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Solar Battery Market Report by Type (Lead Acid, Lithium Ion, Flow Battery, and Others), Capacity (Below 75 AH, 75 To 150 AH, Above 150 AH), End User (Industrial, Commercial, Residential), and Region 2024-2032
Market Report I 2024-07-01 I 144 Pages I IMARC Group
The global solar battery market size reached US$ 204.2 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 590.0 Million by 2032, exhibiting a growth rate (CAGR) of 12.3% during 2024-2032.
A solar photovoltaic (PV) system is utilized for ensuring a continuous power supply and reducing carbon footprint. It consists of one or more solar panels, electrical and mechanical hardware and an inverter that aids in storing electrical energy in solar batteries. Solar batteries are subjected to frequent charging as well as discharging processes and help provide energy to electrical loads at a stable voltage by suppressing voltage fluctuations in a solar PV system.
Solar Battery Market Trends:
At present, there is a considerable increase in the utilization of eco-friendly and cost-effective energy solutions around the world on account of stringent regulations imposed by governments of several countries to minimize reliance on exhaustible resources. This represents one of the key factors bolstering the growth of the market. Moreover, solar PV systems find extensive applications in grid systems, which are attached to the local utility grid, to cater to the continuous energy requirements of the global population. They are also used in solar streetlights for providing reliable power to ensure quick payback on large capital projects, which, in turn, is strengthening the market growth. In addition, solar PV systems are utilized in smart grids to offer critical energy back to the grid during peak hours. This, along with the thriving energy sector, is fueling the market growth. Besides this, the adoption of these systems in the residential and commercial sectors is increasing the self-reliance of owners and significantly reducing the monthly electricity bill, which is impelling the market growth. Apart from this, the growing prominence of energy trading using blockchain and artificial intelligence (AI) technologies is projected to offer lucrative growth opportunities to leading players.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global solar battery market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type, capacity and end user.
Breakup by Type:
Lead Acid
Lithium Ion
Flow Battery
Others
Breakup by Capacity:
Below 75 AH
75 To 150 AH
Above 150 AH
Breakup by End User:
Industrial
Commercial
Residential
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 BAE Batterien GmbH, BYD Co. Ltd., Contemporary Amperex Technology Co. Ltd., EnerSys, Exide Industries Limited, LG Electronics Inc. (LG Corporation), Loom Solar Pvt. Ltd., Luminous Power Technologies Private Limited (Schneider Electric SE), Okaya Power Pvt. Ltd., Panasonic Corporation, SAFT (TotalEnergies SE), Samsung SDI Co. Ltd and Tesla Inc.
Key Questions Answered in This Report
1. What was the size of the global solar battery market in 2023?
2. What is the expected growth rate of the global solar battery market during 2024-2032?
3. What are the key factors driving the global solar battery market?
4. What has been the impact of COVID-19 on the global solar battery market?
5. What is the breakup of the global solar battery market based on the type?
6. What is the breakup of the global solar battery market based on the end user?
7. What are the key regions in the global solar battery market?
8. Who are the key players/companies in the global solar battery market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Solar Battery Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Lead Acid
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Lithium Ion
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Flow Battery
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Capacity
7.1 Below 75 AH
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 75 To 150 AH
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Above 150 AH
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by End User
8.1 Industrial
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Commercial
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Residential
8.3.1 Market Trends
8.3.2 Market Forecast
9 Market Breakup by Region
9.1 North 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
9.2 Asia-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
9.3 Europe
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
9.4 Latin 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
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 BAE Batterien GmbH
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.2 BYD Co. Ltd.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.2.4 SWOT Analysis
14.3.3 Contemporary Amperex Technology Co. Ltd.
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.4 EnerSys
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.4.4 SWOT Analysis
14.3.5 Exide Industries Limited
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.6 LG Electronics Inc. (LG Corporation)
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 Loom Solar Pvt. Ltd.
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.8 Luminous Power Technologies Private Limited (Schneider Electric SE)
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9 Okaya Power Pvt. Ltd.
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.10 Panasonic Corporation
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.10.4 SWOT Analysis
14.3.11 SAFT (TotalEnergies SE)
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.12 Samsung SDI Co. Ltd
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
14.3.13 Tesla Inc.
14.3.13.1 Company Overview
14.3.13.2 Product Portfolio
14.3.13.3 Financials
14.3.13.4 SWOT Analysis
Figure 1: Global: Solar Battery Market: Major Drivers and Challenges
Figure 2: Global: Solar Battery Market: Sales Value (in Million US$), 2018-2023
Figure 3: Global: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 4: Global: Solar Battery Market: Breakup by Type (in %), 2023
Figure 5: Global: Solar Battery Market: Breakup by Capacity (in %), 2023
Figure 6: Global: Solar Battery Market: Breakup by End User (in %), 2023
Figure 7: Global: Solar Battery Market: Breakup by Region (in %), 2023
Figure 8: Global: Solar Battery (Lead Acid) Market: Sales Value (in Million US$), 2018 & 2023
Figure 9: Global: Solar Battery (Lead Acid) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 10: Global: Solar Battery (Lithium Ion) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: Solar Battery (Lithium Ion) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Global: Solar Battery (Flow Battery) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Solar Battery (Flow Battery) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: Solar Battery (Other Types) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: Solar Battery (Other Types) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: Solar Battery (Below 75 AH) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: Solar Battery (Below 75 AH) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: Solar Battery (75 To 150 AH) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: Solar Battery (75 To 150 AH) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: Solar Battery (Above 150 AH) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: Solar Battery (Above 150 AH) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: Solar Battery (Industrial) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: Solar Battery (Industrial) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: Solar Battery (Commercial) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: Solar Battery (Commercial) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: Global: Solar Battery (Residential) Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: Global: Solar Battery (Residential) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: North America: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: North America: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: United States: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: United States: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: Canada: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: Canada: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: Asia-Pacific: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: Asia-Pacific: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: China: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: China: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: Japan: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: Japan: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: India: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: India: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: South Korea: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: South Korea: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: Australia: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: Australia: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: Indonesia: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: Indonesia: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: Others: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: Others: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: Europe: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: Europe: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: Germany: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: Germany: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: France: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: France: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: United Kingdom: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: United Kingdom: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 58: Italy: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 59: Italy: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 60: Spain: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 61: Spain: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 62: Russia: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 63: Russia: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 64: Others: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 65: Others: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 66: Latin America: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 67: Latin America: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 68: Brazil: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 69: Brazil: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 70: Mexico: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 71: Mexico: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 72: Others: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 73: Others: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 74: Middle East and Africa: Solar Battery Market: Sales Value (in Million US$), 2018 & 2023
Figure 75: Middle East and Africa: Solar Battery Market: Breakup by Country (in %), 2023
Figure 76: Middle East and Africa: Solar Battery Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 77: Global: Solar Battery Industry: SWOT Analysis
Figure 78: Global: Solar Battery Industry: Value Chain Analysis
Figure 79: Global: Solar Battery Industry: Porter's Five Forces Analysis
Table 1: Global: Solar Battery Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Solar Battery Market Forecast: Breakup by Type (in Million US$), 2024-2032
Table 3: Global: Solar Battery Market Forecast: Breakup by Capacity (in Million US$), 2024-2032
Table 4: Global: Solar Battery Market Forecast: Breakup by End User (in Million US$), 2024-2032
Table 5: Global: Solar Battery Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 6: Global: Solar Battery Market: Competitive Structure
Table 7: Global: Solar Battery Market: Key Players
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