Solar Battery Market: Industry Analysis and Forecast (2021-2027) by Product Type and Application.

Solar Battery Market size was valued at US$ 137.46 Mn. in 2020 and the total revenue is expected to grow at CAGR of 15.80% through 2021 to 2027, reaching nearly US$ 383.83 Mn.

Solar Battery Market Overview:

Solar Battery is also known as a solar panel battery, solar power battery, or solar battery storage. Solar Batteries are designed to store power generated by solar panels throughout the day to use it as per the need. Solar batteries are connected with a solar charger controller or solar inverter for power backup. It is rechargeable and commonly used in solar cell systems to store additional energy. Solar batteries maximize the use of the power generated by solar systems, they have a positive effect on reducing electricity bills and reducing dependence on public energy grids. Some of the major applications of solar battery such as, solar charging stations, storage for power plants, and storage system for off-grids. Solar Battery Market To know about the Research Methodology :- Request Free Sample Report 2020 is considered as a base year to forecast the market from 2021 to 2027. 2020’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2027. 2020 is a year of exception and analyzed especially with the impact of lockdown by region.

Solar Battery Market Dynamics:

Solar Battery Market is continuously showing northward direction growth, thanks to increased demand of Solar Batteries for eco-friendly and cost-effective energy solutions in industrial, commercial and Residential energy storage. Solar Battery is highly effective to reduce carbon footprint. As governments across the globe are promoting sustainable energy sources, the demand for solar battery is expected to increase during the forecast period. 2020 year was the eighth consecutive year in which global investment in renewables exceeded $200 billion. As per International Energy Agency (IEA) report, The China has invested $86.5 billion in solar energy sector during 2020, and produced approximately 53 GW which is more than half the global total. The application of solar battery is effectively reducing the demand for coal, oil, and other fossil energy resources. Thanks to increased use and dependence on Solar Batteries are expected to mitigate climate change along with stimulating economies, creating jobs and increasing grid integrity and security. Growing concerns over the uses of burning fossils, fuels the acceptance of renewable energy sources fuels the solar battery market. In April 2021, Tesla announced that it would bundle its solar products, solar roofs, solar batteries, and solar panels with its Powerwall home battery pack going forward. In 2019, Tesla reported $369 million in revenue from solar and storage. Such developments and huge investment are expected to drive the growth of the global solar battery market during the forecast period. New subsidies and tax credit schemes from governments are expected to attract new end-users in this sector. In addition, rise in concern of zero emission norms in governments across emerging nations, such as China, India, and South Korea, is also expected to drive the market growth. Falling battery prices is expected to create challenges for leading global energy storage companies, including Tesla. Last decade battery prices have fallen nearly 87%, from $1,100/kWh in 2010 to $156/kWh in 2019. It also predicted that average prices to fall further, to $100/kWh by 2023. In addition the initial installation cost and high maintenance cost of solar battery are the major challenges for industry players.

Solar Battery Market Segment Analysis:

Based on the Product Type, the market is segmented into Lithium Ion, Lead Acid, Flow Battery, and Others. Lithium Ion solar battery segment captured the largest market share by xx% in 2020 and is expected to grow with a CAGR of 17.2% during the forecast period. The key benefit of lithium-ion batteries is they have extremely high life-cycle (up to 5000 cycles). Also they have high charging and discharging capabilities that helps in utilizing more energy from the solar panel. As they are Eco-friendly and required low maintenance cost, they are expected to dominate the Solar Battery Market during forecast period. The average efficiency of lithium ion battery is 90-95%, whereas for lead acid it is around 80-85%.The Lead Acid solar battery segment is expected to grow significantly with CAGR of 14.1 % during the forecast period. Lead ensures better battery performance and quality. Lead-acid batteries are easy to maintain, install, and access. Solar Battery Market Based on End-Use, the market is segmented into Industrial, Commercial, and Residential. Industrial End-Use segment has dominated the Solar Battery Market and held the 59.78% of global market share in 2020. Solar batteries harvest large amount of energy from solar panel, which make them essential in industrial end use. These batteries can be used for various Industrial applications ranging from factories to power sources for electronic devices. As demand is growing in industrial end use, manufacturers are focusing on the modification of the product, which fuels a high growth rate for this segment. Commercial End-Use segment is expected to grow rapidly with a CAGR of 12.79% during forecast period. Solar Battery Market

Solar Battery Market Regional Insights:

The Asia Pacific region held highest market share accounted for 41.8% during 2020. Abundant production facilities, easy access to raw materials, and increased R&D activity are all helping Asia-Pacific to expand. There is rise in concern from governments across Asia Pacific region countries, such as China, India, South Korea, and Japan regarding renewable energy storage, which is expected to grow production during forecast period. China being the largest producer of solar power will positively influence the demand for solar battery in this region. North America has occupied significant Solar Battery Market share accounted 28.92% in 2020. The growth of solar battery market in North America region is being supported by the growing industrial sector. Europe region is expected to grow with CAGR of 8.4% during forecast period, and driven by the presence of well-known Solar Battery manufacturers and increased demand from end-use industries. In addition countries, such as the UK and Portugal, are encouraging capacity auctions for solar battery storage. Solar Battery MarketThe objective of the report is to present a comprehensive analysis of the Solar Battery Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Solar Battery Market dynamic, structure by analyzing the market segments and project the Solar Battery Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Solar Battery Market make the report investor’s guide.

Solar Battery Market Scope: Inquire before buying

Solar Battery Market

Solar Battery Market, by Region

• North America • Europe • Asia Pacific • South America • Middle East and Africa

Solar Battery Market Key Players

TeslaBYD Company • Kokam Co. • Carnegie Clean Energy • Primus Power • EnerSys. • LG • CATL • Panasonic • Loom Solar • BAE Batterien GmbH • Luminous • Okaya • Exide • Amaron • Base Battery • HBL Power • Eastman

Frequently Asked Questions:

1] What segments are covered in Solar Battery Market report? Ans. The segments covered in the Solar Battery Market report are based on Product Type and End-User. 2] Which region is expected to hold the highest share in the Solar Battery Market? Ans. Asia Pacific Region is expected to hold the highest share in the Solar Battery Market. 3] What is the market size of Solar Battery Marketby2027? Ans. The market size of Solar Battery Marketby2027 is US $ 383.83 Mn. 4] Who are the top key players in the Solar Battery Market? Ans. Tesla, BYD Company, Kokam Co., Carnegie Clean Energy, Primus Power, EnerSys. LG, CATL, Panasonic, Loom Solar, BAE Batterien GmbH, Luminous, Okaya, Exide, Amaron, Base Battery, HBL Power, Eastman. 5] What was the market size of Solar Battery Market in 2020? Ans. The market size of Solar Battery Market in 2020 was US $ 137.46 Mn.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Solar Battery Market Size, by Market Value (US$ Bn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2020 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Solar Battery Market 3.4. Geographical Snapshot of the Solar Battery Market, By Manufacturer share 4. Solar Battery Market Overview, 2020-2027 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porter Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. The threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Solar Battery Market 5. Supply Side and Demand Side Indicators 6. Solar Battery Market Analysis and Forecast, 2020-2027 6.1. Solar Battery Market Size & Y-o-Y Growth Analysis. 7. Solar Battery Market Analysis and Forecasts, 2020-2027 7.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 7.1.1. Lithium Ion 7.1.2. Lead Acid 7.1.3. Flow Battery 7.1.4. Others. 7.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 7.2.1. Industrial 7.2.2. Commercial 7.2.3. Residential 7.3. Market Size (Value) Estimates & Forecast By Region, 2020-2027 7.3.1. North America 7.3.2. Europe 7.3.3. Asia-Pacific 7.3.4. Middle East & Africa 7.3.5. South America 8. Solar Battery Market analysis and Forecasts, by Region 8.1. Market Size (Value) Estimates & Forecast by Region, 2020-2027 8.1.1. North America 8.1.2. Europe 8.1.3. Asia Pacific 8.1.4. Middle East and Africa 8.1.5. South America 9. North America Solar Battery Market Analysis and Forecasts, 2020-2027 9.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 9.1.1. Lithium Ion 9.1.2. Lead Acid 9.1.3. Flow Battery 9.1.4. Others. 9.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 9.2.1. Industrial 9.2.2. Commercial 9.2.3. Residential 10. North America Solar Battery Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2020-2027 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Solar Battery Market Analysis and Forecasts, 2020-2027 11.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 11.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 12. Canada Solar Battery Market Analysis and Forecasts, 2020-2027 12.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 12.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 13. Mexico Solar Battery Market Analysis and Forecasts, 2020-2027 13.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 13.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 14. Europe Solar Battery Market Analysis and Forecasts, 2020-2027 14.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 14.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 15. Europe Solar Battery Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2020-2027 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Solar Battery Market Analysis and Forecasts, 2020-2027 16.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 16.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 17. France Solar Battery Market Analysis and Forecasts, 2020-2027 17.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 17.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 18. Germany Solar Battery Market Analysis and Forecasts, 2020-2027 18.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 18.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 19. Italy Solar Battery Market Analysis and Forecasts, 2020-2027 19.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 19.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 20. Spain Solar Battery Market Analysis and Forecasts, 2020-2027 20.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 20.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 21. Sweden Solar Battery Market Analysis and Forecasts, 2020-2027 21.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 21.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 22. CIS Countries Solar Battery Market Analysis and Forecasts, 2020-2027 22.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 22.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 23. Rest of Europe Solar Battery Market Analysis and Forecasts, 2020-2027 23.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 23.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 24. Asia Pacific Solar Battery Market Analysis and Forecasts, 2020-2027 24.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 24.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 25. Asia Pacific Solar Battery Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates &Forecast By Country, 2020-2027 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Solar Battery Market Analysis and Forecasts, 2020-2027 26.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 26.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 27. India Solar Battery Market Analysis and Forecasts, 2020-2027 27.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 27.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 28. Japan Solar Battery Market Analysis and Forecasts, 2020-2027 28.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 28.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 29. South Korea Solar Battery Market Analysis and Forecasts, 2020-2027 29.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 29.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 30. Australia Solar Battery Market Analysis and Forecasts, 2020-2027 30.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 30.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 31. ASEAN Solar Battery Market Analysis and Forecasts, 2020-2027 31.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 31.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 32. Analysis and Forecasts, 2020-2027 32.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 32.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 33. Middle East Africa Solar Battery Market Analysis and Forecasts, 2020-2027 33.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 33.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 34. Middle East Africa Solar Battery Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2020-2027 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Solar Battery Market Analysis and Forecasts, 2020-2027 35.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 35.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 36. GCC Countries Solar Battery Market Analysis and Forecasts, 2020-2027 36.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 36.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 37. Egypt Solar Battery Market Analysis and Forecasts, 2020-2027 37.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 37.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 38. Nigeria Solar Battery Market Analysis and Forecasts, 2020-2027 38.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 38.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 39. Rest of ME&A Solar Battery Market Analysis and Forecasts, 2020-2027 39.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 39.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 40. South America Solar Battery Market Analysis and Forecasts, 2020-2027 40.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 40.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 41. South America Solar Battery Market Analysis and Forecast, by country 41.1. Market Size (Value) Estimates & Forecast by Country, 2020-2027 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Solar Battery Market Analysis and Forecasts, 2020-2027 42.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 42.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 43. Argentina Solar Battery Market Analysis and Forecasts, 2020-2027 43.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 43.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 44. Rest of South America Solar Battery Market Analysis and Forecasts, 2020-2027 44.1. Market Size (Value) Estimates & Forecast By Product type, 2020-2027 44.2. Market Size (Value) Estimates & Forecast By End-User, 2020-2027 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Solar Battery Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile : Key Players 45.3.1. Tesla 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. BYD Company 45.3.3. Kokam Co. 45.3.4. Carnegie Clean Energy 45.3.5. Primus Power 45.3.6. EnerSys. 45.3.7. LG 45.3.8. CATL 45.3.9. Panasonic 45.3.10. Loom Solar 45.3.11. BAE Batterien GmbH 45.3.12. Luminous 45.3.13. Okaya 45.3.14. Exide 45.3.15. Amaron 45.3.16. Base Battery 45.3.17. HBL Power 45.3.18. Eastman 46. Primary Key Insights

About This Report

Report ID123257
Category Material & Chemical
Published DateOct 2021
Updated Date
Contact Us