Press release
Residential Energy Storage Lithium-ion Battery Market
The global Residential Energy Storage Lithium-ion Battery market was valued at US$ 2500 million in 2022 and is anticipated to reach US$ 130620 million by 2029, witnessing a CAGR of 69.5% during the forecast period 2023-2029.
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Residential Energy Storage Lithium-ion Battery Market Share
A BESS is an energy storage system (ESS) that captures energy from different sources, accumulates this energy, and stores it in rechargeable batteries for later use. Residential Battery Energy Storage Systems (BESS) is a home electricity storage product designed to store energy from solar or the grid which helps all households use energy more efficiently.
The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Global key players of Residential Energy Storage Lithium-ion Battery include Tesla, Pylontech, BYD, Huawei, Alpha ESS, etc. The top five players hold a share over 57%.
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By Type
• LFP Battery
• Ternary Lithium Battery
• Others
By Application
• Below 10kWh
• Above 10kWh
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