openPR Logo
Press release

Solar Battery Market Projected to grow at 15.5% CAGR To 2027

05-30-2024 09:55 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Analytics LLP

Solar Battery Market Projected to grow at 15.5% CAGR To 2027

According to a new report published by Allied Market Research, The global solar battery market size was valued at $113.4 million in 2019, and is projected to reach $360.4 million by 2027, growing at a CAGR of 15.5% from 2020 to 2027.

Some of the key players profiled in the report include BYD Company, Kokam.Co, Carnegie Clean Energy, Primus Power, LG Chem, and EnerSys.

Asia-Pacific dominated the solar battery market with more than 40% market share.

Download Sample PDF: https://www.alliedmarketresearch.com/request-sample/11480

The global solar battery market is heading toward an expansion phase. This is attributed to a significant surge in demand from residential and commercial end-users.

Rise in concern from governments across emerging nations, such as China, India, and South Korea, regarding zero emission norms is expected to drive the market growth.

Growing demand for sustainable energy storage solutions is the major factor driving the solar battery market growth.

As governments across the globe are promoting sustainable energy sources, the demand for solar power battery is expected to increase over the projected timeframe.

The application of solar battery can effectively reduce the demand for coal, oil, and other imported fossil energy resources.

The implementation of solar battery storage systems will provide new employments, which can open new investment opportunities in the economy.

Buy This Report (269 Pages PDF with Insights, Charts, Tables, and Figures): https://bit.ly/3SEDOeO

The Lead Acid battery segment is projected to grow at the highest CAGR of approximately 17.8%, in terms of revenue, during the forecast period.

By end-user, the industrial segment held more than 40% market share with a CAGR of 15.7%, in terms of revenue, during the forecast period.

Solar battery is generally used to store solar power and discharge the power as per requirement. It is made of lithium ion or lead acid. It is rechargeable and can be generally used in solar cell systems to store excess energy.

Some of the major applications of solar battery include solar charging stations, storage for power plants, and storage system for off-grids.

COVID-19 scenario analysis

The global solar battery industry had immediate impact of COVID-19 due to social distancing norms and shortage of manpower. These led to delayed installations and cancellation of new projects.

The upstream and downstream channels have been affected due to restrictions on movement, which lead to increase in the amount of inventories.

Shifting trend toward remote working is considered a vital solution to improve the market conditions. Various automation companies utilize remote connectivity to ensure the access to field operators and service engineers who cannot be on site at this time.

Browse Complete Report: https://www.alliedmarketresearch.com/solar-battery-market-A11115

The sharp decline in consumer expenditure highly affected the demand. Reduced expenditure of consumers during the lockdown highly impacted the solar battery market for solar products, including various solar storage systems.

Trending Reports in Energy and Power Industry:

Solar Battery Market

https://www.globenewswire.com/news-release/2021/05/04/2222956/0/en/Solar-Battery-Market-to-Garner-360-4-Million-by-2027-Allied-Market-Research.html

Lead-Acid Battery Market

https://www.globenewswire.com/news-release/2024/04/08/2859084/0/en/Lead-Acid-Battery-Market-to-Reach-81-4-Billion-Globally-by-2032-at-4-6-CAGR-Allied-Market-Research.html

Battery Technology Market

https://www.globenewswire.com/news-release/2024/01/23/2814125/0/en/Battery-Technology-Market-to-Reach-185-0-Billion-globally-by-2032-at-5-9-CAGR-Allied-Market-Research.html

Forklift Battery Market

https://www.prnewswire.com/news-releases/forklift-battery-market-to-reach-11-2-billion-globally-by-2032-at-6-5-cagr-allied-market-research-302032495.html

Lithium-ion Battery Market

https://www.globenewswire.com/news-release/2023/07/25/2710661/0/en/Lithium-Ion-Battery-Market-to-Reach-189-4-Billion-Globally-by-2032-at-15-2-CAGR-Allied-Market-Research.html

David Correa1209 Orange Street,Corporation Trust Center,Wilmington, New Castle,Delaware 19801 USA.Int'l: +1-503-894-6022Toll Free: +1-800-792-5285Fax: +1-800-792-5285help@alliedmarketresearch.com

Web: www.alliedmarketresearch.com

Allied Market Research Blog:

https://blog.alliedmarketresearch.com

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Solar Battery Market Projected to grow at 15.5% CAGR To 2027 here

News-ID: 3519368 • Views:

More Releases from Allied Analytics LLP

The Future of Energy: Trends Shaping the Off-Grid Solar Market
The Future of Energy: Trends Shaping the Off-Grid Solar Market
According to a new report published by Allied Market Research, The off-grid solar market size was valued at $1.9 billion in 2021, and is estimated to reach $5.8 billion by 2031, growing at a CAGR of 12.3% from 2022 to 2031. Off-grid solar refers to a solar power system that operates independently of the electrical grid. It typically includes solar panels, a charge controller, a battery bank, and an inverter. Off-grid
Top Trends in the Solar Landscape Lighting Market
Top Trends in the Solar Landscape Lighting Market
According to a new report published by Allied Market Research, the solar landscape lighting market size valued at $3.0 billion in 2022 and is estimated to reach $5.6 billion by 2032, exhibiting a CAGR of 7.0 % from 2023 to 2032. Solar energy in the form of renewable energy is used in solar landscape lighting products. Solar energy gets converted into electrical energy by photovoltaic cells. During night-time, the lamp starts
Gasification Market Trends: Key Insights and Predictions
Gasification Market Trends: Key Insights and Predictions
According to a new report published by Allied Market Research, the global gasification market size was valued at $472.20 billion in 2022, and is estimated to reach $836.6 billion by 2032, growing at a CAGR of 5.7% from 2023 to 2032. Gasification is a process that converts carbonaceous materials, such as coal, biomass, or municipal solid waste, into a gaseous fuel called syngas (synthetic gas). It involves heating the feedstock at
Trends: The Future of the Lithium-ion Battery Market
Trends: The Future of the Lithium-ion Battery Market
According to a new report published by Allied Market Research, The lithium-ion battery market size was valued at $46.2 billion in 2022, and lithium-ion battery industry is estimated to reach $189.4 billion by 2032, growing at a CAGR of 15.2% from 2023 to 2032. A lithium-ion (Li-ion) battery is a type of rechargeable battery that uses lithium ions to store and release electrical energy. Li-ion batteries have become the dominant technology

All 5 Releases


More Releases for Battery

America SLI Battery Market Segment, Trends and Forecast to 2026 | XS Power Batte …
Global Market Insights has launched a report on America SLI Battery Market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere. Global Market Insights, Inc. forecasts the America SLI Battery Market
Golf Cart Battery Market | Axion Power, Samsung SDI, Dyno Battery, Smart Battery
Global Golf Cart Battery Market: Overview The global market for golf cart batteries is expected to expand at a promising pace in the next few years, with the rising uptake of golf carts as practical transportation modes for elderly in places such as airports, crowded stations, and tourist locations globally expected to act as a key growth factor. The increased usage of golf carts other nonconventional application areas is also expected
Global Power Energy Storage Battery Market 2019 - Lithium Ion Battery,All-vanadi …
Power Energy Storage Battery Market The Global Power Energy Storage Battery Market 2019 Research Report incorporates a total and careful investigation of Power Energy Storage Battery industry covering diverse perspectives like market volume, piece of the overall industry, advertise techniques, Power Energy Storage Battery development patterns, assortment of uses, use volume, request and supply examination, creation limit and Power Energy Storage Battery industry cost structures amid Forecast period from
Space Battery Market analysis report- with Leading players, Types Nickel-based B …
Space Battery Market The Space Battery Market is defined by the presence of some of the leading competitors operating in the market, including the well-established players and new entrants, and the suppliers, vendors, and distributors. The report also analyzes the development proposals and the feasibility of new investments. The Space Battery Market report has been collated in order to provide guidance and direction to the companies and individuals interested in buying this
Global EV Battery Recycling Market : Nickel–Cadmium Battery, Nickel–Metal Hy …
The EV Battery Recycling Market Research Report consists of all the essential information in regards to the global market. This report presents an in-depth analysis of various industry factors, such as the market trends, dynamics, production, estimates, industry development drivers, size, share, investigation, supply, forecast trends, sales, industry demand, as well as several other factors. The Global EV Battery Recycling Market report has been generated leveraging a target amalgamation
Global Lead Acid UPS Battery Market 2017 : Sebang Global Battery, CSB Battery, H …
Global Lead Acid UPS Battery Market 2016-2017 A market study based on the " Lead Acid UPS Battery Market " across the globe, recently added to the repository of Market Research, is titled ‘Global Lead Acid UPS Battery Market 2017’. The research report analyses the historical as well as present performance of the worldwide Lead Acid UPS Battery industry, and makes predictions on the future status of Lead Acid UPS Battery