Residential Battery Market Global Insights, Status, and Growth Forecast 2021-2026

The Global Residential Battery Market Research Report 2021-2026 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

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Key Players:

ABB Ltd, LG Chem Ltd, Panasonic Corporation, Samsung SDI, Siemens AG, Luminous Power Technologies, Amara Raja Batteries Ltd, Hitachi, Ltd., NEC Corp, Tesla Inc and others.

Key Market Trends

Lithium-ion Battery to Witness the Market Demand

- Among different types of battery technology, lithium-ion battery (LIB) is expected to dominate the residential battery market majorly due to its capacity-to-weight ratio and other factors like better performance, high energy density, and decreasing price.
- In 2019, lithium-ion battery price was around USD 161/kWh, 81.7% lower than the price in 2010. Lithium-ion battery prices are falling continuously and are down by 6.2% in 2019 from 2018 levels; it has witnessed 80% drop since 2010. The average lithium-ion battery pack price is down to USD 209/kWh, and the prices are expected to fall below USD 100/kWh by 2025.
- The price of LIB is usually high, as compared to other batteries. Also, leading players in the market have been investing, in order to gain economies of scale and in R&D activities, to improve LIB's performance and price.
- Lithium-ion batteries find application in a wide range of consumer goods, like smartphones, wearables, laptops, digital cameras, remote controls and gaming devices. Lithium-ion batteries are safer and have higher capacity power packs and are more economical than other alternatives for long-term use.
- Therefore, the emergence of new and exciting markets such as electric vehicle and energy storage systems (ESS), for both commercial and residential applications, is expected to boost the demand for lithium-ion battery during the forecast period.

Asia-Pacific to dominate the Residential Battery Market Growth

- Asia-Pacific has multiple growing economies with substantial natural as well as human resources. The region holds the majority share in terms of revenue, with China and India being the major contributors. These countries are likely to exhibit immense growth potential during the forecast period.
- The Chinese residential battery market is expected to grow during the forecast period, led by the governments policy and regulatory support. The Chinese government has already shown its ability to stimulate high growth in domestic demand for solar-related equipment, through subsidies and installation targets.
- With increasing disposable income in emerging economies of Asia-Pacific, such as China and India, when coupled with the rising need for reliable energy supply is expected to result in a growing demand for residential batteries. Furthermore, Asia-Pacific is home to the fastest urbanizing countries and the expected increase in energy demand is likely not to be met by the increasing energy production.
- China is one of the largest markets for the electric vehicle and has registered ~30 times faster growth than the electric vehicle market in 2018 when compared to 2017.
- Asia-Pacific is home to the fastest urbanising countries and this, in turn, is likely to create an significant demand for residential battery for a wide range of applications including consumer electronics, back-up power supply systems, and electric vehicles.

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What are the market factors that are explained in the report?

Executive Summary: It includes key trends of the global Residential Battery market related to products, applications, and other crucial factors. It also provides an analysis of the competitive landscape and CAGR and market size of the global Personal Protective Equipment market based on production and revenue.

Production and Consumption by Region: It covers all regional markets focusing on the research study. It discusses prices and key players besides production and consumption in each regional market.

Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the global Residential Battery market.

Market Segments: This part of the report discusses product type and application segments of the global Residential Battery market based on market share, CAGR, market size, and various other factors.

Research Methodology: This section discusses the research methodology and approaches Residential Battery used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.

Reasons to Purchase this report:

– The market estimate (ME) sheet in Excel format

– Report customization as per the client’s requirements

– 3 months of analyst support

Finally, the Residential Battery Market report is the believable source for gaining Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and Market development rate and figure, and so on. This report additionally Present a new task SWOT examination, speculation attainability investigation, and venture return investigation.

Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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