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Report
Residential Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Report I 2023-10-15 I 140 Pages I IMARC Group
Market Overview:
The global residential battery market size reached US$ 12.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 28.3 Billion by 2028, exhibiting a growth rate (CAGR) of 13.78% during 2023-2028.
A residential battery refers to an in-home energy unit used to store the energy supplied from the power grid or generated from renewable energy sources like solar and wind. They are mainly made up of lithium-ion (Li-ion) or lead-acid composition to effectively handle charging and discharging cycles. They comprise an anode, electrolyte, separator, and cathode. Residential batteries are deployed in smart meters and are extremely useful in remote areas deprived of a stable grid connection. They are durable, cost-effective, safe, lightweight, stable, and have a low charging time. Besides this, residential batteries help reduce carbon footprint, save electricity costs, maximize power consumption, and keep the home's electricity resilient.
Residential Battery Market Trends:
The significant growth of solar power generation across the globe is creating a positive outlook for the market. In line with this, the increasing inclination toward deploying solar panels in houses and commercial spaces due to their cost-effectiveness is favoring the market growth. Moreover, the widespread adoption of li-ion batteries over lead-acid batteries to maintain voltage throughout the discharge cycle and allow greater and longer-lasting efficiency of electrical components is acting as another growth-inducing factor. Apart from this, the introduction of smart residential batteries that can be integrated with smartphones, assisting in managing and monitoring the equipment according to the preferences of consumers, is providing an impetus to the market growth. Additionally, the development of residential batteries made with enhanced battery materials and reduced non-active materials that offer improved battery performance, cell design, and production yield are propelling the market growth. Other factors, including rising expenditure capacities of consumers, extensive research and development (R&D) activities, and increasing demand for backup power, are anticipated to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global residential battery market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, power rating and operation.
Breakup by Type:
Lithium-ion Battery
Lead-acid Battery
Others
Breakup by Power Rating:
3-6 kW
6-10 kW
More than 10 kW
Breakup by Operation:
Standalone
Solar
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Amara Raja Batteries Limited, Delta Electronics Inc., Eaton Corporation plc, Energizer Holdings Inc., FIMER S.p.A., LG Energy Solution Ltd., Luminous Power Technologies Pvt. Ltd. (Schneider Electric SE), Panasonic Corporation, Samsung SDI Co. Ltd., SMA Solar Technology AG and Tesla Inc.
Key Questions Answered in This Report:
How has the global residential battery market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global residential battery market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the power rating?
What is the breakup of the market based on the operation?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global residential battery market and who are the key players?
What is the degree of competition in the industry?
1 Preface
2 Scope and Methodology
2.1Objectives of the Study
2.2Stakeholders
2.3Data Sources
2.3.1Primary Sources
2.3.2Secondary Sources
2.4Market Estimation
2.4.1Bottom-Up Approach
2.4.2Top-Down Approach
2.5Forecasting Methodology
3 Executive Summary
4 Introduction
4.1Overview
4.2Key Industry Trends
5 Global Residential Battery Market
5.1Market Overview
5.2Market Performance
5.3Impact of COVID-19
5.4Market Forecast
6 Market Breakup by Type
6.1Lithium-ion Battery
6.1.1 Market Trends
6.1.2 Market Forecast
6.2Lead-acid Battery
6.2.1 Market Trends
6.2.2 Market Forecast
6.3Others
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Power Rating
7.13-6 kW
7.1.1 Market Trends
7.1.2 Market Forecast
7.26-10 kW
7.2.1 Market Trends
7.2.2 Market Forecast
7.3More than 10 kW
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Operation
8.1Standalone
8.1.1 Market Trends
8.1.2 Market Forecast
8.2Solar
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Region
9.1North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1Overview
10.2Strengths
10.3Weaknesses
10.4Opportunities
10.5Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1Overview
12.2Bargaining Power of Buyers
12.3Bargaining Power of Suppliers
12.4Degree of Competition
12.5Threat of New Entrants
12.6Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1Market Structure
14.2Key Players
14.3Profiles of Key Players
14.3.1Amara Raja Batteries Limited
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.2Delta Electronics Inc.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.2.4 SWOT Analysis
14.3.3Eaton Corporation plc
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.3.4 SWOT Analysis
14.3.4Energizer Holdings Inc.
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.4.4 SWOT Analysis
14.3.5FIMER S.p.A.
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.6LG Energy Solution Ltd.
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.7Luminous Power Technologies Pvt. Ltd. (Schneider Electric SE)
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.8Panasonic Corporation
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.8.4 SWOT Analysis
14.3.9Samsung SDI Co. Ltd.
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.9.4 SWOT Analysis
14.3.10SMA Solar Technology AG
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.10.4 SWOT Analysis
14.3.11Tesla Inc.
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.11.3 Financials
14.3.11.4 SWOT Analysis
Figure 1: Global: Residential Battery Market: Major Drivers and Challenges
Figure 2: Global: Residential Battery Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Residential Battery Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Residential Battery Market: Breakup by Type (in %), 2022
Figure 5: Global: Residential Battery Market: Breakup by Power Rating (in %), 2022
Figure 6: Global: Residential Battery Market: Breakup by Operation (in %), 2022
Figure 7: Global: Residential Battery Market: Breakup by Region (in %), 2022
Figure 8: Global: Residential Battery (Lithium-ion Battery) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Residential Battery (Lithium-ion Battery) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Residential Battery (Lead-acid Battery) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Residential Battery (Lead-acid Battery) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Residential Battery (Other Types) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Residential Battery (Other Types) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Residential Battery (3-6 kW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Residential Battery (3-6 kW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Residential Battery (6-10 kW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Residential Battery (6-10 kW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Residential Battery (More than 10 kW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Residential Battery (More than 10 kW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Residential Battery (Standalone) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Residential Battery (Standalone) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Residential Battery (Solar) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Residential Battery (Solar) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: North America: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: North America: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: United States: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: United States: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Canada: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Canada: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Asia-Pacific: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Asia-Pacific: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: China: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: China: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Japan: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Japan: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: India: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: India: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: South Korea: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: South Korea: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Australia: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Australia: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Indonesia: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Indonesia: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Others: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Others: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Europe: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Europe: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Germany: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Germany: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: France: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: France: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: United Kingdom: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: United Kingdom: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Italy: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Italy: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Spain: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Spain: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Russia: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Russia: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Others: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Others: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Latin America: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Latin America: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Brazil: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Brazil: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Mexico: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Mexico: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Others: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Others: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Middle East and Africa: Residential Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Middle East and Africa: Residential Battery Market: Breakup by Country (in %), 2022
Figure 72: Middle East and Africa: Residential Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Global: Residential Battery Industry: SWOT Analysis
Figure 74: Global: Residential Battery Industry: Value Chain Analysis
Figure 75: Global: Residential Battery Industry: Porter's Five Forces Analysis
Table 1: Global: Residential Battery Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Residential Battery Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 3: Global: Residential Battery Market Forecast: Breakup by Power Rating (in Million US$), 2023-2028
Table 4: Global: Residential Battery Market Forecast: Breakup by Operation (in Million US$), 2023-2028
Table 5: Global: Residential Battery Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Residential Battery Market: Competitive Structure
Table 7: Global: Residential Battery Market: Key Players
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