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Global Residential Energy Storage Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2019 To 2027

  • ID: 4992324
  • Report
  • January 2020
  • Region: Global
  • Acute Market Reports

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FEATURED COMPANIES

  • ABB Ltd.
  • Eaton
  • Huawei Technologies
  • Samsung SDI Co Ltd
  • Siemens AG
  • Tabuchi Electric Co Ltd
  • MORE
The residential energy storage market was valued at US$ 5.99 Bn in 2018 and expected to grow at a CAGR of 16.0% during the forecast period from 2019 to 2027.

Market Insights

Government support along with financial incentives for renewable energy worldwide will enhance the market growth globally

Arising opportunities for battery storage from national policies and government financial initiatives aim to spur the residential energy storage market. Many countries are adopting hybrid energy system like renewables plus storage to lessen their dependence upon energy imports, move toward environmental goals, fill gaps in their generation mix, de-carbonization targets, and enhance the reliability and resiliency of their systems. Furthermore, energy storage will benefit from broad policy mandates linked to quality-of-life goals and urbanization in developing nations.

For Instance, India’s initiatives for the “Smart City” project use a competitive model to support the deployment of smart technologies in 100 cities across the country. Moreover, in order to meet the aggressive policy objectives, India recently launched its first grid-scale battery storage system for peak load management, along with a potential boom for residential energy storage systems.

Increasing demand for Li-Ion batteries and decreasing its cost will ramp up the residential energy storage market

The lithium-ion-based energy storage systems accounted to hold a market share of around 60% in 2018. Li-ion batteries provide various technological advantages like lead-acid batteries. In addition, the increase in the adoption of Li-ion batteries due to their technological advantage is the most energetic rechargeable batteries available. Moreover, the replacement of conventional batteries due to its techno-economic benefits have increased the use of Li-ion batteries globally. For instance, from 2017 the lithium-ion battery prices fall continuously by around 22% in 2017 from 2016 levels.

However, this sustained and sharp cost reduction in Li-ion batteries expected to drive the market for residential energy storage. Furthermore, the growing application of li-ion batteries in new markets like renewables like hydro, solar, wind and paired with the energy storage systems (ESS), for both residential and commercial applications during the forecast period.

Industrial Developments
  • In March 2019, Eguana Technologies and PurePoint Energy jointly collaborated in order to provide smart energy storage systems and services to the household in Connecticut, U.S.
  • In March 2019, Siemens AG moved into the battery storage system with the launch of the Junelight Smart Battery System. This battery system predicts and co-ordinates charging and discharging depending upon the weather conditions.
  • In January 2019, Eguana and Class A Energy Solutions collaborated to deliver the Evolve system, under Home Battery Scheme, owing to provide a complete range of solutions for commercial and residential customers across Australia.
Key Market Movements:
  • Globally, the residential energy storage market is rising at a CAGR of 16.0% for the estimated period from 2019 to 2027.
  • In 2018, Europe has dominated the residential energy storage market owing to witnessing high growth, and rapid adoption of rooftop solar power.
  • The residential energy storage markets in North America is projected to be the second-largest region with countries like the U.S., Mexico, and Canada for a residential energy storage system.
  • The Asia Pacific region projected to hold the fastest growing market for residential energy storage owing to its growing demand towards renewables, rapid economic development and increasing demand for self-sufficient energy.
  • The Middle East and Africa to create a moderate incremental opportunity with increasing use of renewable energy over the forecast period.
  • An increasing number of government initiatives, smart infrastructural development, and increased investments for the use of renewables in the emerging nations will drive the overall demand.
List of Companies Covered:
  • ABB Ltd.
  • Samsung SDI Co Ltd
  • Tesla Inc
  • BYD Co Ltd
  • Eguana Technologies Inc
  • Schneider Electric SE
  • Siemens AG
  • Huawei Technologies
  • Eaton
  • LG Chem Ltd
  • Tabuchi Electric Co Ltd
  • SMA Solar Technology AG
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • ABB Ltd.
  • Eaton
  • Huawei Technologies
  • Samsung SDI Co Ltd
  • Siemens AG
  • Tabuchi Electric Co Ltd
  • MORE
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation

2. Executive Summary
2.1. Market Snapshot: Global Residential Energy Storage (RES) Market
2.2. Global RES Market, by Connectivity Type, 2018 (US$ Bn)
2.3. Global RES Market, by Technology Type, 2018 (US$ Bn)
2.4. Global RES Market, by Operation Type, 2018 (US$ Bn)
2.5. Global RES Market, by Geography, 2018 (US$ Bn)

3. Market Dynamics
3.1. Introduction
3.1.1. Global RES Market Value, 2017-2027, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players

4. Global Residential Energy Storage (RES) Market, by Connectivity Type , 2017-2027 (US$ Bn)
4.1. Overview
4.2. On-Grid
4.3. Off-Grid

5. Global Residential Energy Storage (RES) Market, by Technology Type, 2017-2027 (US$ Bn)
5.1. Overview
5.2. Lithium Ion
5.3. Lead Acid

6. Global Residential Energy Storage (RES) Market, by Operation Type, 2017-2027 (US$ Bn)
6.1. Overview
6.2. Standalone Systems
6.3. Solar and Storage Systems

7. North America Residential Energy Storage (RES) Market Analysis, 2017-2027 (US$ Bn)
7.1. Overview
7.1.1. North America RES Market Value and Growth, 2017-2027, (US$ Bn)
7.2. North America RES Market Value, By Connectivity Type, 2017-2027 (US$ Bn)
7.2.1. Market Analysis
7.3. North America RES Market Value, By Technology Type, 2017-2027 (US$ Bn)
7.3.1. Market Analysis
7.4. North America RES Market Value, By Operation Type, 2017-2027 (US$ Bn)
7.4.1. Market Analysis
7.5. North America RES Market Value, By Region/Country, 2017-2027 (US$ Bn)
7.5.1. Market Analysis
7.5.2. U.S.
7.5.3. Rest of North America

8. Europe Residential Energy Storage (RES) Market Analysis, 2017-2027 (US$ Bn)
8.1. Overview
8.1.1. Europe RES Market Value and Growth, 2017-2027, (US$ Bn)
8.2. Europe RES Market Value, By Connectivity Type, 2017-2027 (US$ Bn)
8.2.1. Market Analysis
8.3. Europe RES Market Value, By Technology Type, 2017-2027 (US$ Bn)
8.3.1. Market Analysis
8.4. Europe RES Market Value, By Operation Type, 2017-2027 (US$ Bn)
8.4.1. Market Analysis
8.5. Europe RES Market Value, By Region/Country, 2017-2027 (US$ Bn)
8.5.1. Market Analysis
8.5.2. U.K.
8.5.3. Germany
8.5.4. France
8.5.5. Rest of Europe

9. Asia Pacific Residential Energy Storage (RES) Market Analysis, 2017-2027 (US$ Bn)
9.1. Overview
9.1.1. Asia Pacific RES Market Value and Growth, 2017-2027, (US$ Bn)
9.2. Asia Pacific RES Market Value, By Connectivity Type, 2017-2027 (US$ Bn)
9.2.1. Market Analysis
9.3. Asia Pacific RES Market Value, By Technology Type, 2017-2027 (US$ Bn)
9.3.1. Market Analysis
9.4. Asia Pacific RES Market Value, By Operation Type, 2017-2027 (US$ Bn)
9.4.1. Market Analysis
9.5. Asia Pacific RES Market Value, By Region/Country, 2017-2027 (US$ Bn)
9.5.1. Market Analysis
9.5.2. Japan
9.5.3. China
9.5.4. India
9.5.5. Rest of Asia Pacific

10. Rest of the World Residential Energy Storage (RES) Market Analysis, 2017-2027 (US$ Bn)
10.1. Overview
10.1.1. Rest of the World RES Market Value and Growth, 2017-2027, (US$ Bn)
10.2. Rest of the World RES Market Value, By Connectivity Type, 2017-2027 (US$ Bn)
10.2.1. Market Analysis
10.3. Rest of the World RES Market Value, By Technology Type, 2017-2027 (US$ Bn)
10.3.1. Market Analysis
10.4. Rest of the World RES Market Value, By Operation Type, 2017-2027 (US$ Bn)
10.4.1. Market Analysis
10.5. Rest of the World RES Market Value, By Region, 2017-2027 (US$ Bn)
10.5.1. Market Analysis
10.5.2. Middle East & Africa
10.5.3. Latin America

11. Company Profiles
11.1. ABB Ltd.
11.2. Samsung SDI Co Ltd
11.3. Tesla Inc
11.4. BYD Co Ltd
11.5. Eguana Technologies Inc
11.6. Schneider Electric SE
11.7. Siemens AG
11.8. Huawei Technologies
11.9. Eaton
11.10. LG Chem Ltd
11.11. Tabuchi Electric Co Ltd
11.12. SMA Solar Technology AG
* Here we use RES as a short form of Residential Energy Storage

List of Figures
FIG. 1 Global Residential Energy Storage (RES) Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global RES Market Segmentation
FIG. 4 Global RES Market, by Connectivity Type, 2018 (US$ Bn)
FIG. 5 Global RES Market, by Technology Type, 2018 (US$ Bn)
FIG. 6 Global RES Market, by Operation Type, 2018 (US$ Bn)
FIG. 7 Global RES Market, by Geography, 2018 (US$ Bn)
FIG. 8 Attractive Investment Proposition, by Geography, 2018
FIG. 9 Global Market Positioning of Key RES Market Manufacturers, 2018
FIG. 10 Global RES Market Value Contribution, By Connectivity Type, 2018 & 2027 (Value %)
FIG. 11 Global RES Market, by On-Grid, Value, 2017–2027 (US$ Bn)
FIG. 12 Global RES Market, by Off-Grid, Value, 2017–2027 (US$ Bn)
FIG. 13 Global RES Market Value Contribution, By Technology Type, 2018 & 2027 (Value %)
FIG. 14 Global RES Market, by Lithium Ion, Value, 2017–2027 (US$ Bn)
FIG. 15 Global RES Market, by Lead Acid, Value, 2017–2027 (US$ Bn)
FIG. 16 Global RES Market Value Contribution, By Operation Type, 2018 & 2027 (Value %)
FIG. 17 Global RES Market, by Standalone Systems, Value, 2017–2027 (US$ Bn)
FIG. 18 Global RES Market, by Solar and Storage Systems, Value, 2017–2027 (US$ Bn)
FIG. 19 U.S. RES Market, 2017–2027 (US$ Bn)
FIG. 20 Rest of North America RES Market, 2017–2027 (US$ Bn)
FIG. 21 U.K. RES Market, 2017–2027 (US$ Bn)
FIG. 22 Germany RES Market, 2017–2027 (US$ Bn)
FIG. 23 France RES Market, 2017–2027 (US$ Bn)
FIG. 24 Rest of Europe RES Market, 2017–2027 (US$ Bn)
FIG. 25 Japan RES Market, 2017–2027 (US$ Bn)
FIG. 26 China RES Market, 2017–2027 (US$ Bn)
FIG. 27 India RES Market, 2017–2027 (US$ Bn)
FIG. 28 Rest of Asia Pacific RES Market, 2017–2027 (US$ Bn)
FIG. 29 Middle East & Africa RES Market, 2017–2027 (US$ Bn)
FIG. 30 Latin America RES Market, 2017–2027 (US$ Bn)

List of Tables
TABLE 1 Market Snapshot: Global Residential Energy Storage (RES) Market
TABLE 2 Global RES Market, by Connectivity Type, 2017–2027 (US$ Bn)
TABLE 3 Global RES Market, by Technology Type, 2017–2027 (US$ Bn)
TABLE 4 Global RES Market, by Operation Type, 2017–2027 (US$ Bn)
TABLE 5 Global RES Market, by Geography, 2017–2027 (US$ Bn)
TABLE 6 North America RES Market, by Connectivity Type, 2017–2027 (US$ Bn)
TABLE 7 North America RES Market, by Technology Type, 2017–2027 (US$ Bn)
TABLE 8 North America RES Market, by Operation Type, 2017–2027 (US$ Bn)
TABLE 9 North America RES Market, by Country, 2017–2027 (US$ Bn)
TABLE 10 Europe RES Market, by Connectivity Type, 2017–2027 (US$ Bn)
TABLE 11 Europe RES Market, by Technology Type, 2017–2027 (US$ Bn)
TABLE 12 Europe RES Market, by Operation Type, 2017–2027 (US$ Bn)
TABLE 13 Europe RES Market, by Country/Region, 2017–2027 (US$ Bn)
TABLE 14 Asia Pacific RES Market, by Connectivity Type, 2017–2027 (US$ Bn)
TABLE 15 Asia Pacific RES Market, by Technology Type, 2017–2027 (US$ Bn)
TABLE 16 Asia Pacific RES Market, by Operation Type, 2017–2027 (US$ Bn)
TABLE 17 Asia Pacific RES Market, by Country/Region, 2017–2027 (US$ Bn)
TABLE 18 RoW RES Market, by Connectivity Type, 2017–2027 (US$ Bn)
TABLE 19 RoW RES Market, by Technology Type, 2017–2027 (US$ Bn)
TABLE 20 RoW RES Market, by Operation Type, 2017–2027 (US$ Bn)
TABLE 21 RoW RES Market, by Country/Region, 2017–2027 (US$ Bn)
TABLE 22 ABB: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 23 Samsung SDI Co., Ltd.: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 24 Tesla: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 25 BDY Company Limited: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 26 Eguana Technologies: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 27 Schneider Electric: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 28 Siemens AG: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 29 Huawei: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 30 Eaton: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 31 LG Chem: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 32 Tabuchi Electric: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 33 SMA Solar Technology: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
Note: Product cover images may vary from those shown
  • ABB Ltd.
  • Samsung SDI Co Ltd
  • Tesla Inc
  • BYD Co Ltd
  • Eguana Technologies Inc
  • Schneider Electric SE
  • Siemens AG
  • Huawei Technologies
  • Eaton
  • LG Chem Ltd
  • Tabuchi Electric Co Ltd
  • SMA Solar Technology AG
Note: Product cover images may vary from those shown
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