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Primary Catalyst Driving Residential Battery Market Evolution in 2025: Elevating Demand For Residential Batteries Driven By Solar Power Adoption Driver
Residential Battery Market
The growth of the domestic battery market is predicted to be fueled by the escalating utilization of solar power generation. Solar panels are being increasingly installed in residential and commercial settings due to their cost-effectiveness. These residential batteries serve as storage systems for the power produced by solar panels. The World Resources Institute, a non-profit organization based in the U.S, revealed that in 2023, the country experienced a record installation of 31 gigawatts (GW) of solar energy capacity, a considerable increase of 55% from 2022's installations and exceeded the previous record set in 2021. Community solar provides equal opportunities for homeowners, tenants, and businesses to reap the financial and environmental perks of solar energy generation, independent of the physical attributes or possession of their homes or enterprises. In addition, the community solar sector in America anticipates the installation of more than 4.3 gigawatts of total capacity in the coming five years. This escalating demand for solar power generation is propelling the growth of the residential battery market.
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What is the projected compound annual growth rate (CAGR) of the residential battery market from 2025 to 2034, and what factors influence it?
In the past few years, the dimension of the residential battery market has expanded significantly. The market is forecasted to surge from a value of $9.66 billion in 2024 to approximately $11.08 billion in 2025, displaying a compound annual growth rate (CAGR) of 14.6%. The historical growth witnessed in the market is attached to several factors including integration of renewable energy, provision of energy storage for backup and grid stability, reducing battery costs, governmental motivations and financial aid, as well as a spike in power outages.
The residential battery market is predicted to witness a significant expansion in the forthcoming years, escalating to a value of $17.96 billion by 2029, marking a compound annual growth rate (CAGR) of 12.8%. Several factors driving this growth in the predicted timeline involve the aspiration for energy autonomy and self-reliance, advanced battery administration structures, the broadening of microgrid and off-grid systems, incorporation with smart home solutions, the shift towards electric heating and cooling, improved energy efficacy, and reduction in carbon footprint. Key trends to watch out for in this anticipated period involve increased applications of lithium-ion and solid-state batteries, virtual power plants and peer-to-peer energy trading, recycling and eco-friendly battery materials, advanced methods for grid integration, portable and modular battery solutions, and utilization of artificial intelligence for predictive maintenance.
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How are the latest trends influencing the growth of the residential battery market?
The rise of technological innovations is a significant trend gaining traction in the residential battery market. Leading firms in the battery sector are progressing with cutting-edge technologies and R&D efforts in order to deliver superior products to their clientele. For instance, in March 2023, Qorvo, an American semiconductor enterprise that provides solutions for the communication sector, launched two new battery management systems, namely PAC22140 and PAC25140, that utilize single battery management ICs to accommodate up to 20 battery pack cells.
What are the major segments of the residential battery market and their role in driving growth?
The residential battery market covered in this report is segmented -
1) By Type: Lithium-ion Battery, Lead-Acid Battery, Other Types
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
Subsegments:
1) By Lithium-Ion Battery: Lithium Iron Phosphate (LiFePO4), Lithium Nickel Manganese Cobalt (NMC), Lithium Nickel Cobalt Aluminum Oxide (NCA)
2) By Lead-Acid Battery: Flooded Lead-Acid Battery, Sealed Lead-Acid Battery (SLA), Gel Lead-Acid Battery
3) By Other Types: Flow Batteries, Sodium-Ion Batteries, Zinc-Based Batteries
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Which regions are key players in the growth of the residential battery market?
Asia-Pacific was the largest region in the residential battery market in 2024. The regions covered in the residential battery market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Who are the key firms paving the way for growth in the residential battery market?
Major companies operating in the residential battery market include Amara Raja Batteries Limited, Samsung SDI Co. Ltd., LG Chem Ltd., BYD Company Ltd., Tesla Inc., ABB Ltd., Siemens AG, Luminous Power Technologies Ltd., Contemporary Ampere*x Technology Co. Limited, Panasonic Corporation, Power-Sonic Corporation, Lishen Battery Co. Ltd., China Baofeng Battery Technology Co. Ltd., Loom Solar Pvt. Ltd., Ruipu Energy Co. Ltd., China Aviation Lithium Battery Co. Ltd., Guoxuan High-tech Power Energy Co. Ltd., Sunwoda Electronic Co. Ltd., Farasis Energy Co. Ltd., Sonnen GmbH, Fluence Energy LLC, Bloom Energy Corporation, Blue Planet Energy, Electrovaya Inc., Enphase Energy Inc., ESS Inc., Evergen Energy Solutions Inc., FIMER SpA, Gotion High-tech Co. Ltd., Murata Manufacturing Co. Ltd., NEC Corporation, NextEra Energy Inc., Powin Energy Corporation, Redflow Limited, SimpliPhi Power Inc., Ultralife Corporation
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What Is Covered In The Residential Battery Global Market Report?
•Market Size Forecast: Examine the residential battery market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the residential battery market for a structured understanding.
•Key Players Overview: Analyze major players in the residential battery market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the residential battery market.
•Segment Contributions: Evaluate how different segments drive overall growth in the residential battery market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the residential battery market.
•Industry Challenges: Identify potential risks and obstacles affecting the residential battery market.
•Competitive Landscape: Review strategic developments in the residential battery market, including expansions, agreements, and new product launches.
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