Residential Battery Market Forecast 2022-2031 | By Top Key Players, Share, Trends And Growth

The global residential battery market report by the business research company identifies the increasing deployment of solar power generation is expected to be a major growth driver for the residential battery market. Many people are deploying solar panels in their houses and commercial spaces as it is cost-efficient. To store this power generated by solar panels, residential batteries are used. According to the Solar Energy Industries Association (SEIA), a national non-profit trade association of the solar-energy industry in the United States, the United States of America has installed a 4.6 GW of solar community energy in the year 2021. Regardless of the physical qualities or ownership of their house or company, community solar gives homeowners, renters, and companies equitable access to the economic and environmental benefits of solar energy generation. Moreover, over the next five years, the community solar sector in the USA will install more than 4.3 gigawatts of total capacity. Such rising demand for solar power generation is driving the residential batteries market.

The global residential battery market size is expected to grow from $6.36 billion in 2021 to $7.29 billion in 2022 at a compound annual growth rate (CAGR) of 14.7%. The residential batteries market size is expected to grow to $13.38 billion in 2026 at a CAGR of 16.4%.

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Asia Pacific was the largest region in the residential battery market in 2021. The regions covered in the residential batteries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Major players in the residential battery market are Amara Raja Batteries Ltd, Samsung SDI Co. Ltd, LG Chem Ltd, BYD Company, Tesla, ABB Ltd, Siemens AG, Luminous Power Technologies, Contemporary, Panasonic, Power-Sonic Corporation, Lishen, CBAK, Loom Solar, and Ruipu Energy Co.

The global residential battery market is segmented -
1) By Type: Lithium-Ion Battery, Lead-Acid Battery, Others

2) By Operation Type: Standalone Systems, Solar and Storage

3) By Power Rating: 3-6 kW, 6-10 kW

4) By End-User: Industrial, Commercial, Residential

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The Residential Battery Market Report Contents Include
1. Executive Summary
2. Residential Battery Market Characteristics
3. Residential Battery Market Trends And Strategies
4. Impact Of COVID-19 On Residential Battery
5. Residential Battery Market Size And Growth
....
26. Africa Residential Battery Market
27. Residential Battery Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Residential Battery Market
29. Residential Battery Market Future Outlook and Potential Analysis
30. Appendix

This report covers the trends and market dynamics of the residential battery market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.

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