Residential Energy Storage Market is estimated to reach US$ 2,762.08 million by 2031 | Major players - ABB Ltd., Samsung Sdi Co., Ltd., BYD Company Limited

Market Size and Growth:

The Global Residential Energy Storage Market size was worth US$ 893.01 million in 2023 and is estimated to reach US$ 2,762.08 million by 2031, growing at a CAGR of 15.16% during the forecast period (2024-2031). The Market is growing due to rising demand for reliable backup power and the increasing adoption of rooftop solar systems, driven by declining battery costs and supportive energy policies. According to DataM Intelligence Report.

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The Residential Energy Storage Market refers to the industry focused on home-based battery systems that store electricity for later use. These solutions help homeowners manage energy consumption, reduce electricity bills, enhance backup power during outages, and support renewable integration. The market includes technologies, equipment, and services enabling efficient, reliable, and scalable energy storage for residential applications.

United States: Recent Developments of Residential Energy Storage Market

✅ September 2025: Industry data on Q2 2025 showed U.S. residential storage installations reaching roughly 600 MW in the quarter, more than doubling year-on-year, driven mainly by high home-battery uptake in states like California, Arizona, and Illinois.​

✅ October 2025: Market outlooks released in early Q4 highlighted that residential solar-plus-storage in top U.S. states is now achieving payback periods of around 4-7 years, helped by falling battery cell prices (below about 100 USD/kWh) and growing household electricity demand from EVs and heat pumps.​

✅ November 2025: Updated U.S. storage market assessments emphasized that residential batteries are expected to remain the most resilient segment through 2029, supported by virtual power plant models, third‐party ownership structures, and continued federal tax incentives, even as some solar-only incentives tighten.

Japan: Recent Developments of Residential Energy Storage Market

✅ September 2025: Japan's environment ministry opened applications for new 2025 subsidy programs that support early deployment of perovskite solar plus battery storage, covering a large share of installation costs and explicitly promoting integrated solar-and-storage projects.​

✅ October 2025: Policy and market overviews published in autumn 2025 underlined that Japan's residential lithium‐ion storage segment is one of the country's fastest‐growing battery markets, backed by Tokyo's 2025 rule requiring solar on most new homes and national efforts to build virtual power plant platforms using household batteries.​

✅ November 2025: Late‐2025 Japanese market news reported fresh investments and project pipelines for battery storage, with analysts projecting several gigawatts of capacity under construction or planned and highlighting household demand and corporate ESG pressures as key drivers for continued residential storage adoption.

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Major Players:

Key companies in the Residential Energy Storage market include:

ABB Ltd.
Samsung Sdi Co., Ltd.
BYD Company Limited
Eguana Technologies
Schneider Electric
Siemens AG
LG Chem
Tabuchi Electric
SMA Solar Technology
Eaton Corporation.

Market Growth Drivers:

✅ Rising adoption of rooftop solar PV systems: Homeowners pair solar panels with storage batteries to capture excess daytime energy for nighttime use or outages, boosting self-consumption and energy independence.​

✅ Declining battery costs, especially lithium-ion: Falling prices due to technological advances and scaled production make residential systems more affordable, accelerating widespread adoption.​

✅ Demand for energy reliability and grid independence: Frequent power outages, rising electricity prices, and extreme weather drive need for backup power and reduced grid reliance.

Segments Covered in the Residential Energy Storage Market:

By Technology: Lithium-ion, Lead-acid.

By Ownership: Customer-owned, Utility-owned, Third party-owned.

By Connectivity: On-grid, Off-grid.

By Operation: Standalone Systems, Solar & Storage.

Regional Analysis for Residential Energy Storage Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Chapter Outline:

⏩ Market Overview: It contains five chapters, as well as information about the research scope, major manufacturers covered, market segments, Residential Energy Storage market segments, study objectives, and years considered.

⏩ Market Landscape: The competition in the Global Residential Energy Storage Market is evaluated here in terms of value, turnover, revenues, and market share by organization, as well as market rate, competitive landscape, and recent developments, transaction, growth, sale, and market shares of top companies.

⏩ Companies Profiles: The global Residential Energy Storage market's leading players are studied based on sales, main products, gross profit margin, revenue, price, and growth production.

⏩ Market Outlook by Region: The report goes through gross margin, sales, income, supply, market share, CAGR, and market size by region in this segment. North America, Europe, Asia Pacific, Middle East & Africa, and South America are among the regions and countries studied in depth in this study.

⏩ Market Segments: It contains the deep research study which interprets how different end-user/application/type segments contribute to the Residential Energy Storage Market.

⏩ Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

⏩ Research Findings: This section of the report showcases the findings and analysis of the report.

⏩ Conclusion: This portion of the report is the last section of the report where the conclusion of the research study is provided.

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Frequently asked questions:

➠ What is the global sales value, production value, consumption value, import and export of Residential Energy Storage market?

➠ Who are the global key manufacturers of the Residential Energy Storage Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?

➠ What are the Residential Energy Storage market opportunities and threats faced by the vendors in the global Residential Energy Storage Industry?

➠ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?

➠ What focused approach and constraints are holding the Residential Energy Storage market?

➠ What are the different sales, marketing, and distribution channels in the global industry?

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