Residential Energy Storage Market Report, History And Forecast 2020-2028, Breakdown Data By Manufacturers, Key Regions, Types And Application
A recent assessment study of the global Residential Energy Storage market brings in the best of both qualitative as well as quantitative research techniques to analyze the competitive landscape for the forecast period 2020 to 2028.
The global residential energy storage market size reached USD 6.97 Billion in 2020, and is expected to register a double-digit CAGR of 20.8% during the forecast period. Market revenue growth is primarily driven by decreasing cost of batteries. Development of battery storage in the power industry is driving increasing demand for lithium-ion batteries in residential energy storage systems. Increasing installations of residential energy storage systems in developed countries as consumers want added reliability, control, and resilience from the battery, is contributing to growth of the global residential energy storage market. The high value that customers are placing on having their own storage systems is driving up number of installations of residential energy storage systems, which is exceeding the utility-scale storage installations. Reduction in the per-kilowatt-hour cost of a residential energy storage system in recent years is contributing to growing demand for residential energy storage systems. Increasing need of grid resilience during mass-grid outages is a key factor contributing to growing demand for energy storage in the residential sector in developed countries. Rising incidence of severe weather conditions such as hurricanes or storms cause disruptions in power supply. As a result, storm affected states and wildfire prone areas are experiencing increasing installations of home batteries for better reliability.
The study also focuses on the major driving forces and the restrains shaping the progress of the industry across different regions. The report entails both, investigative and discovery research methods to examine the performance of the prominent market players and their winning strategies to stay ahead in the competition.
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The SWOT analysis carried out during the study sheds light on the strengths, weaknesses, opportunities and threats encountered by the prominent vendors. Expert insights on past, present and future trends covered by the study further aims to provide clarity on the future prospects of the industry.
The major manufacturers covered in this report:
ABB, Samsung SDI Co, Tesla, Inc., BYD Company, Eguana Technologies, Schneider Electric, Siemens, Huawei, Eaton Corporation plc, and LG Chem
The research analyzes market segmentation based on product type, application, sale and geographical regions. All different parameters known to impact the Residential Energy Storage market are assessed in this research report and have also been accounted for, examined in detail, analyzed through qualitative and quantitative research and weighed upon to get actionable data.
Segments Covered in this report are:
Technology Outlook (Revenue, USD Billion; 2018–2028)
- Lithium-ion batteries
- Lead-acid batteries
Ownership type Outlook (Revenue, USD Billion; 2018–2028)
- Utility owned
- Customer owned
- Third-party owned
Connectivity type Outlook (Revenue, USD Billion; 2018–2028)
- On-grid
- Off-grid
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The key regions included here contribute significantly to the worldwide market share. The report also gives a competitive analysis of the Residential Energy Storage market. The study categorizes the global market to project the total revenue and examine the past, present as well as emerging trends in sub segments such as types, size, vertical, consumers and geography.
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
United States
Europe
China
Japan
Southeast Asia
India
Scope Of The Report:
This extensive analysis sheds light on an array of intangible aspects connected with the business such as important definitions, end use and total revenue garnered across different regions. The researcher has taken a conscious effort to get a closer look at some of the top performers of the Residential Energy Storage industry. Other essential aspects evaluated during research include import and export, demand and supply, distribution channel, gross margin and supply chain management.
To add more credibility to the research the study examines the winning strategies adopted by the prominent vendors to maintain competitive edge worldwide. Vital statistics on the business performance is projected using self-explanatory resources charts, tables and graphic images.
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This report strategically examines the micro-markets and brings to light the impact of technology upgrades on the performance of the Residential Energy Storage market. Researchers conducting the research also carry out a comprehensive analysis of the recent amendments in the government regulation and their impact on the competitive landscape of the industry.
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The research assesses the recent progress in the competitive landscape including collaborations, joint ventures, product launches, acquisitions and mergers as well as investments in the sector for research and development.
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