Solar Energy Storage Market Demand & Future Scope Including Top Players BMW Group, BYD, Carnegie Clean Energy, Primus Power Corporation, Maxwell Technologies, Samsung SDI, LG Chem, EnerSys, Leclanch� SA, Saft, VIONX Energy Corporation

Increasing adoption of solar energy by utilities to replace fossil fuels will considerably thrust global solar energy storage market revenues. There has been a growing concern with regards to the rapid environmental changes taking place which have resulted from the use and subsequent depletion of major natural resources that help in power generation. The support from large businesses and government agencies for exploring different power sources and their storage has contributed to the development of novel energy storage systems.

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The demand for electric batteries to help reduce transportation costs has been on a rise due to the proliferation of electrical vehicles, which has driven companies to integrate storage units that are performance-oriented. Many companies are focused on solar integrated EV charging stations which will encourage the growth of systems having supporting both stationary and mobile batteries, further pushing solar energy storage market over the forecast period.

The Major Key Players in the Market are as follows:
o BMW Group
o BYD
o Carnegie Clean Energy
o Primus Power Corporation
o Maxwell Technologies
o Samsung SDI
o LG Chem
o EnerSys
o Leclanch� SA
o Saft
o VIONX Energy Corporation

The Li-ion batteries require low maintenance and do not require scheduled recycling. Their self-discharge technique is less as compared to other batteries making them well suited for modern fuel gauge applications. Several automotive companies are preferring Li-ion batteries, for instance, Toyota has deployed solar rooftops at its facilities and aims to explore synergies with lithium ion batteries. These module-based batteries will be provided with stationary storage for solar energy which may reduce the cost of energy storage. The need to store solar energy for further use by way of charging the electric vehicles will propel solar energy storage market outlook over the forecast years.

In recent times, the implementation of roof top solar systems across residential and commercial spaces has fueled the product demand. For instance, India's Ministry of New and Renewable Energy, under its National Solar Mission - aims to achieve 40-GW worth of power through solar rooftops by the year 2022. Owing to numerous advantages of rooftop solar panels such as cost savings, reduced carbon footprints, and relatively lower maintenance cost, several builders of residential or commercial establishments are installing solar rooftops. The need to store solar energy across these establishments is contributing to the overall solar energy storage market share.

Speaking in terms of regional growth, Asia Pacific solar energy storage market share has witnessed a commendable expansion over the last few years owing to several government policies directed toward increasing the use of renewable sources of energy in these countries. Additionally, due to the increase in industrial sector, the builders/establishment owners are resorting to renewable sources for electricity due to its cost effectiveness and easy maintenance.

Owing to an increase in realization among the nations regarding climate change and its impact, there has been a considerable shift towards the adaption of renewable energy sources. Hence, with the rise in usage of natural source of energy like solar power there arises a need for storage in order to facilitate continuous usage.

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Similarly, the adaption of solar power ranging from the production of electricity to its usage in electric cars has further steered solar energy storage market trends. Several investments from major companies like Samsung, LG Chem, BMW, Maxwell Technologies, Primus Power and others have eased the availability of efficient storage solutions and created future opportunities in the sector. Solar energy storage market is estimated to exceed an annual installation of 3 GW by 2025.

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