Solar Batteries Market to record USD 7.89 Bn growth | Evolving Opportunities with A123 Systems LLC and Alpha ESS Co. Ltd.


NEW YORK, Sept. 25, 2022 /PRNewswire/ — The solar batteries market size is expected to grow by USD 7.89 billion, accelerating at a CAGR of 15.46% during the forecast period. The market is fragmented and is characterized by the presence of well-diversified international vendors. The market comprises many small-scale manufacturers that produce and sell batteries. Large players with diversified business operations can manage their profitability during the volatile demand for batteries because revenues from other sources offset the decline in battery revenues. The requirement of high initial investments is limiting the entry of new players into the market. Get deeper insights into the vendor landscape, successful strategies adopted by vendors, and other important aspects. Buy Report Now

The market is driven by the implementation of solar-plus-storage systems. In addition, increasing investments in renewable energy are anticipated to further boost the growth of the solar batteries market.

Solar-plus-storage systems, also known as PV systems are charged by a linked solar system. These systems monitor and divert excess energy to the batteries instead of sending them back to the grid. Such benefits are increasing their popularity among end-users. The adoption of these systems is expected to increase over the forecast period with advancements in research and declining costs. All these factors are expected to foster the growth of the global solar batteries market during the forecast period.

Major Solar Batteries Manufacturers:

  • A123 Systems LLC
  • Alpha ESS Co. Ltd.
  • GS Yuasa Corp.
  • BYD Co. Ltd.
  • Contemporary Amperex Technology Co. Ltd.
  • East Penn Manufacturing Co. Inc.
  • EnerSys
  • Exide Industries Ltd.
  • Inti Photovoltaics S.L.
  • LG Energy Solution Ltd.
  • Loom Solar Pvt. Ltd.
  • Primus Power Solutions
  • Renon Power Technology Inc.
  • Robert Bosch GmbH
  • Samsung SDI Co. Ltd.
  • SolarEdge Technologies Inc.
  • Sunergy Solar
  • Tesla Inc.
  • Panasonic Corp
  • BAE Batterien GmbH

Solar Batteries Market Segmentation by Technology

  • Li-ion – size and forecast 2021-2026
  • Lead acid – size and forecast 2021-2026
  • Sodium-based – size and forecast 2021-2026
  • Others – size and forecast 2021-2026

The market growth in the Li-ion segment will be significant over the forecast period. The segment is driven by the benefits of Li-ion batteries such as Higher depth of discharge, long lifespan, higher energy density, high efficiency, and less maintenance.

Solar Batteries Market Segmentation by Geography

  • APAC – size and forecast 2021-2026
  • North America – size and forecast 2021-2026
  • Europe – size and forecast 2021-2026
  • Middle East and Africa – size and forecast 2021-2026
  • South America – size and forecast 2021-2026

APAC will emerge as the dominant region, occupying 41% of the global market share. The growth of the regional market can be attributed to growing environmental concerns and rising demand for energy. The rising demand for solar batteries from the residential and utility sectors will also contribute to the growth of the solar batteries market in APAC during the forecast period.

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Solar Batteries Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 15.46%

Market growth 2022-2026

USD 7.89 billion

Market structure

Fragmented

YoY growth (%)

11.59

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 41%

Key consumer countries

US, China, South Korea, Japan, and India

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

A123 Systems LLC, Alpha ESS Co. Ltd., GS Yuasa Corp., BYD Co. Ltd., Contemporary Amperex Technology Co. Ltd., East Penn Manufacturing Co. Inc., EnerSys, Exide Industries Ltd., Inti Photovoltaics S.L., LG Energy Solution Ltd., Loom Solar Pvt. Ltd., Primus Power Solutions, Renon Power Technology Inc., Robert Bosch GmbH, Samsung SDI Co. Ltd., SolarEdge Technologies Inc., Sunergy Solar, Tesla Inc., Panasonic Corp, and BAE Batterien GmbH

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

1 Executive Summary

  • 1.1 Market overview 
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Technology
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem 
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition 
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026 
    • Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ million)
    • Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary 
    • Exhibit 17: Five forces analysis – Comparison between 2021 and 2026
  • 4.2 Bargaining power of buyers 
    • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
  • 4.3 Bargaining power of suppliers 
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants 
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes 
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry 
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition 
    • Exhibit 23: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by Technology

  • 5.1 Market segments 
    • Exhibit 24: Chart on Technology – Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Technology – Market share 2021-2026 (%)
  • 5.2 Comparison by Technology 
    • Exhibit 26: Chart on Comparison by Technology
    • Exhibit 27: Data Table on Comparison by Technology
  • 5.3 Li-ion – Market size and forecast 2021-2026
    • Exhibit 28: Chart on Li-ion – Market size and forecast 2021-2026 ($ million)
    • Exhibit 29: Data Table on Li-ion – Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Chart on Li-ion – Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Li-ion – Year-over-year growth 2021-2026 (%)
  • 5.4 Lead acid – Market size and forecast 2021-2026
    • Exhibit 32: Chart on Lead acid – Market size and forecast 2021-2026 ($ million)
    • Exhibit 33: Data Table on Lead acid – Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Chart on Lead acid – Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Lead acid – Year-over-year growth 2021-2026 (%)
  • 5.5 Sodium-based – Market size and forecast 2021-2026
    • Exhibit 36: Chart on Sodium-based – Market size and forecast 2021-2026 ($ million)
    • Exhibit 37: Data Table on Sodium-based – Market size and forecast 2021-2026 ($ million)
    • Exhibit 38: Chart on Sodium-based – Year-over-year growth 2021-2026 (%)
    • Exhibit 39: Data Table on Sodium-based – Year-over-year growth 2021-2026 (%)
  • 5.6 Others – Market size and forecast 2021-2026
    • Exhibit 40: Chart on Others – Market size and forecast 2021-2026 ($ million)
    • Exhibit 41: Data Table on Others – Market size and forecast 2021-2026 ($ million)
    • Exhibit 42: Chart on Others – Year-over-year growth 2021-2026 (%)
    • Exhibit 43: Data Table on Others – Year-over-year growth 2021-2026 (%)
  • 5.7 Market opportunity by Technology 
    • Exhibit 44: Market opportunity by Technology ($ million)

6 Customer Landscape

  • 6.1 Customer landscape overview 
    • Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation 
    • Exhibit 46: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 47: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison 
    • Exhibit 48: Chart on Geographic comparison
    • Exhibit 49: Data Table on Geographic comparison
  • 7.3 APAC – Market size and forecast 2021-2026
    • Exhibit 50: Chart on APAC – Market size and forecast 2021-2026 ($ million)
    • Exhibit 51: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
    • Exhibit 52: Chart on APAC – Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on APAC – Year-over-year growth 2021-2026 (%)
  • 7.4 North America – Market size and forecast 2021-2026
    • Exhibit 54: Chart on North America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on North America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on North America – Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on North America – Year-over-year growth 2021-2026 (%)
  • 7.5 Europe – Market size and forecast 2021-2026
    • Exhibit 58: Chart on Europe – Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on Europe – Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on Europe – Year-over-year growth 2021-2026 (%)
  • 7.6 Middle East and Africa – Market size and forecast 2021-2026 
    • Exhibit 62: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
    • Exhibit 63: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
    • Exhibit 64: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)
  • 7.7 South America – Market size and forecast 2021-2026
    • Exhibit 66: Chart on South America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 67: Data Table on South America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 68: Chart on South America – Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on South America – Year-over-year growth 2021-2026 (%)
  • 7.8 US – Market size and forecast 2021-2026
    • Exhibit 70: Chart on US – Market size and forecast 2021-2026 ($ million)
    • Exhibit 71: Data Table on US – Market size and forecast 2021-2026 ($ million)
    • Exhibit 72: Chart on US – Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on US – Year-over-year growth 2021-2026 (%)
  • 7.9 China – Market size and forecast 2021-2026
    • Exhibit 74: Chart on China – Market size and forecast 2021-2026 ($ million)
    • Exhibit 75: Data Table on China – Market size and forecast 2021-2026 ($ million)
    • Exhibit 76: Chart on China – Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on China – Year-over-year growth 2021-2026 (%)
  • 7.10 South Korea – Market size and forecast 2021-2026
    • Exhibit 78: Chart on South Korea – Market size and forecast 2021-2026 ($ million)
    • Exhibit 79: Data Table on South Korea – Market size and forecast 2021-2026 ($ million)
    • Exhibit 80: Chart on South Korea – Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on South Korea – Year-over-year growth 2021-2026 (%)
  • 7.11 Japan – Market size and forecast 2021-2026
    • Exhibit 82: Chart on Japan – Market size and forecast 2021-2026 ($ million)
    • Exhibit 83: Data Table on Japan – Market size and forecast 2021-2026 ($ million)
    • Exhibit 84: Chart on Japan – Year-over-year growth 2021-2026 (%)
    • Exhibit 85: Data Table on Japan – Year-over-year growth 2021-2026 (%)
  • 7.12 India – Market size and forecast 2021-2026
    • Exhibit 86: Chart on India – Market size and forecast 2021-2026 ($ million)
    • Exhibit 87: Data Table on India – Market size and forecast 2021-2026 ($ million)
    • Exhibit 88: Chart on India – Year-over-year growth 2021-2026 (%)
    • Exhibit 89: Data Table on India – Year-over-year growth 2021-2026 (%)
  • 7.13 Market opportunity by geography 
    • Exhibit 90: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges 
    • Exhibit 91: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape 
    • Exhibit 92: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption 
    • Exhibit 93: Overview on factors of disruption
  • 9.4 Industry risks 
    • Exhibit 94: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered 
    • Exhibit 95: Vendors covered
  • 10.2 Market positioning of vendors 
    • Exhibit 96: Matrix on vendor position and classification
  • 10.3 BAE Batterien GmbH 
    • Exhibit 97: BAE Batterien GmbH – Overview
    • Exhibit 98: BAE Batterien GmbH – Product / Service
    • Exhibit 99: BAE Batterien GmbH – Key offerings
  • 10.4 BYD Co. Ltd. 
    • Exhibit 100: BYD Co. Ltd. – Overview
    • Exhibit 101: BYD Co. Ltd. – Business segments
    • Exhibit 102: BYD Co. Ltd. – Key news
    • Exhibit 103: BYD Co. Ltd. – Key offerings
    • Exhibit 104: BYD Co. Ltd. – Segment focus
  • 10.5 East Penn Manufacturing Co. Inc. 
    • Exhibit 105: East Penn Manufacturing Co. Inc. – Overview
    • Exhibit 106: East Penn Manufacturing Co. Inc. – Product / Service
    • Exhibit 107: East Penn Manufacturing Co. Inc. – Key news
    • Exhibit 108: East Penn Manufacturing Co. Inc. – Key offerings
  • 10.6 EnerSys 
    • Exhibit 109: EnerSys – Overview
    • Exhibit 110: EnerSys – Business segments
    • Exhibit 111: EnerSys – Key news
    • Exhibit 112: EnerSys – Key offerings
    • Exhibit 113: EnerSys – Segment focus
  • 10.7 GS Yuasa Corp. 
    • Exhibit 114: GS Yuasa Corp. – Overview
    • Exhibit 115: GS Yuasa Corp. – Business segments
    • Exhibit 116: GS Yuasa Corp. – Key news
    • Exhibit 117: GS Yuasa Corp. – Key offerings
    • Exhibit 118: GS Yuasa Corp. – Segment focus
  • 10.8 LG Energy Solution Ltd. 
    • Exhibit 119: LG Energy Solution Ltd. – Overview
    • Exhibit 120: LG Energy Solution Ltd. – Product / Service
    • Exhibit 121: LG Energy Solution Ltd. – Key offerings
  • 10.9 Primus Power Solutions 
    • Exhibit 122: Primus Power Solutions – Overview
    • Exhibit 123: Primus Power Solutions – Product / Service
    • Exhibit 124: Primus Power Solutions – Key offerings
  • 10.10 Robert Bosch GmbH 
    • Exhibit 125: Robert Bosch GmbH – Overview
    • Exhibit 126: Robert Bosch GmbH – Business segments
    • Exhibit 127: Robert Bosch GmbH – Key news
    • Exhibit 128: Robert Bosch GmbH – Key offerings
    • Exhibit 129: Robert Bosch GmbH – Segment focus
  • 10.11 Samsung SDI Co. Ltd. 
    • Exhibit 130: Samsung SDI Co. Ltd. – Overview
    • Exhibit 131: Samsung SDI Co. Ltd. – Business segments
    • Exhibit 132: Samsung SDI Co. Ltd. – Key offerings
    • Exhibit 133: Samsung SDI Co. Ltd. – Segment focus
  • 10.12 SolarEdge Technologies Inc. 
    • Exhibit 134: SolarEdge Technologies Inc. – Overview
    • Exhibit 135: SolarEdge Technologies Inc. – Business segments
    • Exhibit 136: SolarEdge Technologies Inc. – Key news
    • Exhibit 137: SolarEdge Technologies Inc. – Key offerings
    • Exhibit 138: SolarEdge Technologies Inc. – Segment focus

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist 
    • Exhibit 139: Inclusions checklist
    • Exhibit 140: Exclusions checklist
  • 11.3 Currency conversion rates for US$ 
    • Exhibit 141: Currency conversion rates for US$
  • 11.4 Research methodology 
    • Exhibit 142: Research methodology
    • Exhibit 143: Validation techniques employed for market sizing
    • Exhibit 144: Information sources
  • 11.5 List of abbreviations 
    • Exhibit 145: List of abbreviations
About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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