+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Solar Energy Storage Market By Type, By Installation: Global Opportunity Analysis and Industry Forecast, 2021-2031

  • PDF Icon

    Report

  • 324 Pages
  • September 2022
  • Region: Global
  • Allied Market Research
  • ID: 5713176
The global solar energy storage market size was valued at $9.8 billion in 2021, and is projected to reach $20.9 billion by 2031, growing at a CAGR of 7.9% from 2022 to 2031.

Solar energy is stored in a battery by pumping solar energy into battery to initiate a chemical reaction among the component of the battery and discharge the power as per requirement. It is made of lithium ion or lead acid. It is rechargeable and can be generally used in solar cell systems to store excess energy. Some of the major installations of solar battery include solar charging stations, storage for power plants, and storage system for off-grids.

The solar energy storage market is segmented on the basis of type, installation, and region. On the basis of type, the market is categorized into lead acid, lithium ion, flow battery, and others. On the basis of installation, the market is divided into on grid and off grid. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

The global solar energy storage market forecast profiles leading players that include ADARA POWER,BASF SE, BMW, ENERSYS, Evonik Industries AG, KOKAM, Leclanché SA, LG CHEM, LG Electronics, MAXWELL TECHNOLOGIES, Owens Corning, PPG Industries, Inc., PRIMUS POWER, SAMSUNG, Siemen, Sumitomo Chemical Co., Ltd, and THE LUBRIZOL CORPORATION. The global solar energy storage market report provides in-depth competitive analysis as well as profiles of these major players.

Rise in demand for eco-friendly and cost-effective energy solutions for industrial and commercial energy storage installation is expected to drive the solar energy storage market growth. Moreover, the installation of solar battery can effectively reduce carbon footprints. Implementation of solar energy storage battery can make a nation energy independent and reduce the dependence on imported fossil energy resources. Furthermore, growing interest of industry players toward renewable energy storage solutions is expected to increase investment opportunities during the forecast timeframe. For instance, countries, such as the UK and Portugal, are encouraging capacity auctions for solar battery storage instead of conventional energy storage systems. Such developments are projected to positively impact the market growth.

However, the initial installation cost is a burden for small & medium-sized enterprises. At the current stage, financing for solar project requires selling of assets to aggregators to maintain sufficient liquid capital to develop the next project and cover operational overhead. These factors together may negatively impact the solar energy storage market growth.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the solar energy storage market analysis from 2021 to 2031 to identify the prevailing solar energy storage market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the solar energy storage market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global solar energy storage market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Type

  • Lead Acid
  • Lithium Ion
  • Flow Battery
  • Others

By Installation

  • On grid
  • Off grid

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • Italy
  • Spain
  • UK
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • South Africa,
  • Saudi Arabia
  • Rest of LAMEA

Key Market Players

  • Enersys
  • Kokam
  • SAMSUNG
  • ADARA POWER
  • BASF SE
  • BMW
  • EVONIK INDUSTRIES AG
  • Leclanché SA
  • LG Chem Ltd
  • LG Electronics Inc.
  • MAXWELL TECHNOLOGIES
  • Owens Corning
  • PPG Industries, Inc.
  • Primus Power
  • Siemens Energy
  • Sumitomo Chemical Co., Ltd
  • The Lubrizol Corporation
Frequently Asked Questions about the Global Solar Energy Storage Market

What is the estimated value of the Global Solar Energy Storage Market?

The Global Solar Energy Storage Market was estimated to be valued at $9.8 billion in 2021.

What is the growth rate of the Global Solar Energy Storage Market?

The growth rate of the Global Solar Energy Storage Market is 7.9%, with an estimated value of $20.9 billion by 2031.

What is the forecasted size of the Global Solar Energy Storage Market?

The Global Solar Energy Storage Market is estimated to be worth $20.9 billion by 2031.

Who are the key companies in the Global Solar Energy Storage Market?

Key companies in the Global Solar Energy Storage Market include Enersys, Kokam, SAMSUNG, ADARA POWER, BASF SE, BMW, EVONIK INDUSTRIES AG, Leclanché SA and LG Electronics Inc..

Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
3.7. Value Chain Analysis
3.8. Key Regulation Analysis
3.9. Patent Landscape
3.10. Pricing Analysis

CHAPTER 4: SOLAR ENERGY STORAGE MARKET, BY TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2 Lead Acid
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Lithium Ion
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Flow Battery
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
4.5 Others
4.5.1 Key market trends, growth factors and opportunities
4.5.2 Market size and forecast, by region
4.5.3 Market analysis by country

CHAPTER 5: SOLAR ENERGY STORAGE MARKET, BY INSTALLATION
5.1 Overview
5.1.1 Market size and forecast
5.2 On grid
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Off grid
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country

CHAPTER 6: SOLAR ENERGY STORAGE MARKET, BY REGION
6.1 Overview
6.1.1 Market size and forecast
6.2 North America
6.2.1 Key trends and opportunities
6.2.2 North America Market size and forecast, by Type
6.2.3 North America Market size and forecast, by Installation
6.2.4 North America Market size and forecast, by country
6.2.4.1 U.S.
6.2.4.1.1 Market size and forecast, by Type
6.2.4.1.2 Market size and forecast, by Installation
6.2.4.2 Canada
6.2.4.2.1 Market size and forecast, by Type
6.2.4.2.2 Market size and forecast, by Installation
6.2.4.3 Mexico
6.2.4.3.1 Market size and forecast, by Type
6.2.4.3.2 Market size and forecast, by Installation
6.3 Europe
6.3.1 Key trends and opportunities
6.3.2 Europe Market size and forecast, by Type
6.3.3 Europe Market size and forecast, by Installation
6.3.4 Europe Market size and forecast, by country
6.3.4.1 Germany
6.3.4.1.1 Market size and forecast, by Type
6.3.4.1.2 Market size and forecast, by Installation
6.3.4.2 France
6.3.4.2.1 Market size and forecast, by Type
6.3.4.2.2 Market size and forecast, by Installation
6.3.4.3 Italy
6.3.4.3.1 Market size and forecast, by Type
6.3.4.3.2 Market size and forecast, by Installation
6.3.4.4 Spain
6.3.4.4.1 Market size and forecast, by Type
6.3.4.4.2 Market size and forecast, by Installation
6.3.4.5 UK
6.3.4.5.1 Market size and forecast, by Type
6.3.4.5.2 Market size and forecast, by Installation
6.3.4.6 Rest of Europe
6.3.4.6.1 Market size and forecast, by Type
6.3.4.6.2 Market size and forecast, by Installation
6.4 Asia-Pacific
6.4.1 Key trends and opportunities
6.4.2 Asia-Pacific Market size and forecast, by Type
6.4.3 Asia-Pacific Market size and forecast, by Installation
6.4.4 Asia-Pacific Market size and forecast, by country
6.4.4.1 China
6.4.4.1.1 Market size and forecast, by Type
6.4.4.1.2 Market size and forecast, by Installation
6.4.4.2 Japan
6.4.4.2.1 Market size and forecast, by Type
6.4.4.2.2 Market size and forecast, by Installation
6.4.4.3 India
6.4.4.3.1 Market size and forecast, by Type
6.4.4.3.2 Market size and forecast, by Installation
6.4.4.4 South Korea
6.4.4.4.1 Market size and forecast, by Type
6.4.4.4.2 Market size and forecast, by Installation
6.4.4.5 Australia
6.4.4.5.1 Market size and forecast, by Type
6.4.4.5.2 Market size and forecast, by Installation
6.4.4.6 Rest of Asia-Pacific
6.4.4.6.1 Market size and forecast, by Type
6.4.4.6.2 Market size and forecast, by Installation
6.5 LAMEA
6.5.1 Key trends and opportunities
6.5.2 LAMEA Market size and forecast, by Type
6.5.3 LAMEA Market size and forecast, by Installation
6.5.4 LAMEA Market size and forecast, by country
6.5.4.1 Brazil
6.5.4.1.1 Market size and forecast, by Type
6.5.4.1.2 Market size and forecast, by Installation
6.5.4.2 South Africa,
6.5.4.2.1 Market size and forecast, by Type
6.5.4.2.2 Market size and forecast, by Installation
6.5.4.3 Saudi Arabia
6.5.4.3.1 Market size and forecast, by Type
6.5.4.3.2 Market size and forecast, by Installation
6.5.4.4 Rest of LAMEA
6.5.4.4.1 Market size and forecast, by Type
6.5.4.4.2 Market size and forecast, by Installation

CHAPTER 7: COMPANY LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Key developments

CHAPTER 8: COMPANY PROFILES
8.1 Enersys
8.1.1 Company overview
8.1.2 Company snapshot
8.1.3 Operating business segments
8.1.4 Product portfolio
8.1.5 Business performance
8.1.6 Key strategic moves and developments
8.2 Kokam
8.2.1 Company overview
8.2.2 Company snapshot
8.2.3 Operating business segments
8.2.4 Product portfolio
8.2.5 Business performance
8.2.6 Key strategic moves and developments
8.3 SAMSUNG
8.3.1 Company overview
8.3.2 Company snapshot
8.3.3 Operating business segments
8.3.4 Product portfolio
8.3.5 Business performance
8.3.6 Key strategic moves and developments
8.4 ADARA POWER
8.4.1 Company overview
8.4.2 Company snapshot
8.4.3 Operating business segments
8.4.4 Product portfolio
8.4.5 Business performance
8.4.6 Key strategic moves and developments
8.5 BASF SE
8.5.1 Company overview
8.5.2 Company snapshot
8.5.3 Operating business segments
8.5.4 Product portfolio
8.5.5 Business performance
8.5.6 Key strategic moves and developments
8.6 BMW
8.6.1 Company overview
8.6.2 Company snapshot
8.6.3 Operating business segments
8.6.4 Product portfolio
8.6.5 Business performance
8.6.6 Key strategic moves and developments
8.7 EVONIK INDUSTRIES AG
8.7.1 Company overview
8.7.2 Company snapshot
8.7.3 Operating business segments
8.7.4 Product portfolio
8.7.5 Business performance
8.7.6 Key strategic moves and developments
8.8 Leclanché SA
8.8.1 Company overview
8.8.2 Company snapshot
8.8.3 Operating business segments
8.8.4 Product portfolio
8.8.5 Business performance
8.8.6 Key strategic moves and developments
8.9 LG Chem Ltd
8.9.1 Company overview
8.9.2 Company snapshot
8.9.3 Operating business segments
8.9.4 Product portfolio
8.9.5 Business performance
8.9.6 Key strategic moves and developments
8.10 LG Electronics Inc.
8.10.1 Company overview
8.10.2 Company snapshot
8.10.3 Operating business segments
8.10.4 Product portfolio
8.10.5 Business performance
8.10.6 Key strategic moves and developments
8.11 MAXWELL TECHNOLOGIES
8.11.1 Company overview
8.11.2 Company snapshot
8.11.3 Operating business segments
8.11.4 Product portfolio
8.11.5 Business performance
8.11.6 Key strategic moves and developments
8.12 Owens Corning
8.12.1 Company overview
8.12.2 Company snapshot
8.12.3 Operating business segments
8.12.4 Product portfolio
8.12.5 Business performance
8.12.6 Key strategic moves and developments
8.13 PPG Industries, Inc.
8.13.1 Company overview
8.13.2 Company snapshot
8.13.3 Operating business segments
8.13.4 Product portfolio
8.13.5 Business performance
8.13.6 Key strategic moves and developments
8.14 Primus Power
8.14.1 Company overview
8.14.2 Company snapshot
8.14.3 Operating business segments
8.14.4 Product portfolio
8.14.5 Business performance
8.14.6 Key strategic moves and developments
8.15 Siemens Energy
8.15.1 Company overview
8.15.2 Company snapshot
8.15.3 Operating business segments
8.15.4 Product portfolio
8.15.5 Business performance
8.15.6 Key strategic moves and developments
8.16 Sumitomo Chemical Co., Ltd
8.16.1 Company overview
8.16.2 Company snapshot
8.16.3 Operating business segments
8.16.4 Product portfolio
8.16.5 Business performance
8.16.6 Key strategic moves and developments
8.17 The Lubrizol Corporation
8.17.1 Company overview
8.17.2 Company snapshot
8.17.3 Operating business segments
8.17.4 Product portfolio
8.17.5 Business performance
8.17.6 Key strategic moves and developments

List of Tables
Table 1. Global Solar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 2. Global Solar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 3. Solar Energy Storage Market, for Lead Acid, by Region, 2021-2031 ($Million)
Table 4. Solar Energy Storage Market, for Lead Acid, by Region, 2021-2031 (Mwh)
Table 5. Solar Energy Storage Market for Lead Acid, by Country, 2021-2031 ($Million)
Table 6. Solar Energy Storage Market for Lead Acid, by Country, 2021-2031 (Mwh)
Table 7. Solar Energy Storage Market, for Lithium Ion, by Region, 2021-2031 ($Million)
Table 8. Solar Energy Storage Market, for Lithium Ion, by Region, 2021-2031 (Mwh)
Table 9. Solar Energy Storage Market for Lithium Ion, by Country, 2021-2031 ($Million)
Table 10. Solar Energy Storage Market for Lithium Ion, by Country, 2021-2031 (Mwh)
Table 11. Solar Energy Storage Market, for Flow Battery, by Region, 2021-2031 ($Million)
Table 12. Solar Energy Storage Market, for Flow Battery, by Region, 2021-2031 (Mwh)
Table 13. Solar Energy Storage Market for Flow Battery, by Country, 2021-2031 ($Million)
Table 14. Solar Energy Storage Market for Flow Battery, by Country, 2021-2031 (Mwh)
Table 15. Solar Energy Storage Market, for Others, by Region, 2021-2031 ($Million)
Table 16. Solar Energy Storage Market, for Others, by Region, 2021-2031 (Mwh)
Table 17. Solar Energy Storage Market for Others, by Country, 2021-2031 ($Million)
Table 18. Solar Energy Storage Market for Others, by Country, 2021-2031 (Mwh)
Table 19. Global Solar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 20. Global Solar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 21. Solar Energy Storage Market, for on Grid, by Region, 2021-2031 ($Million)
Table 22. Solar Energy Storage Market, for on Grid, by Region, 2021-2031 (Mwh)
Table 23. Solar Energy Storage Market for on Grid, by Country, 2021-2031 ($Million)
Table 24. Solar Energy Storage Market for on Grid, by Country, 2021-2031 (Mwh)
Table 25. Solar Energy Storage Market, for Off Grid, by Region, 2021-2031 ($Million)
Table 26. Solar Energy Storage Market, for Off Grid, by Region, 2021-2031 (Mwh)
Table 27. Solar Energy Storage Market for Off Grid, by Country, 2021-2031 ($Million)
Table 28. Solar Energy Storage Market for Off Grid, by Country, 2021-2031 (Mwh)
Table 29. Solar Energy Storage Market, by Region, 2021-2031 ($Million)
Table 30. Solar Energy Storage Market, by Region, 2021-2031 (Mwh)
Table 31. North America Solar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 32. North America Solar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 33. North America Solar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 34. North America Solar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 35. North America Solar Energy Storage Market, by Country, 2021-2031 ($Million)
Table 36. North America Solar Energy Storage Market, by Country, 2021-2031 (Mwh)
Table 37. U.S. Solar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 38. U.S. Solar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 39. U.S. Solar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 40. U.S. Solar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 41. Canada Solar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 42. Canada Solar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 43. Canada Solar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 44. Canada Solar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 45. Mexico Solar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 46. Mexico Solar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 47. Mexico Solar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 48. Mexico Solar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 49. Europe Solar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 50. Europe Solar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 51. Europe Solar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 52. Europe Solar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 53. Europe Solar Energy Storage Market, by Country, 2021-2031 ($Million)
Table 54. Europe Solar Energy Storage Market, by Country, 2021-2031 (Mwh)
Table 55. Germany Solar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 56. Germany Solar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 57. Germany Solar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 58. Germany Solar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 59. France Solar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 60. France Solar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 61. France Solar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 62. France Solar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 63. Italy Solar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 64. Italy Solar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 65. Italy Solar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 66. Italy Solar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 67. Spain Solar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 68. Spain Solar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 69. Spain Solar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 70. Spain Solar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 71. U.S.lar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 72. U.S.lar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 73. U.S.lar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 74. U.S.lar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 75. Rest of Europe Solar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 76. Rest of Europe Solar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 77. Rest of Europe Solar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 78. Rest of Europe Solar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 79. Asia-Pacific Solar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 80. Asia-Pacific Solar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 81. Asia-Pacific Solar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 82. Asia-Pacific Solar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 83. Asia-Pacific Solar Energy Storage Market, by Country, 2021-2031 ($Million)
Table 84. Asia-Pacific Solar Energy Storage Market, by Country, 2021-2031 (Mwh)
Table 85. China Solar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 86. China Solar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 87. China Solar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 88. China Solar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 89. Japan Solar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 90. Japan Solar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 91. Japan Solar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 92. Japan Solar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 93. India Solar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 94. India Solar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 95. India Solar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 96. India Solar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 97. South Korea Solar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 98. South Korea Solar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 99. South Korea Solar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 100. South Korea Solar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 101. Australia Solar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 102. Australia Solar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 103. Australia Solar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 104. Australia Solar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 105. Rest of Asia-Pacific Solar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 106. Rest of Asia-Pacific Solar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 107. Rest of Asia-Pacific Solar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 108. Rest of Asia-Pacific Solar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 109. LAMEA Solar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 110. LAMEA Solar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 111. LAMEA Solar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 112. LAMEA Solar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 113. LAMEA Solar Energy Storage Market, by Country, 2021-2031 ($Million)
Table 114. LAMEA Solar Energy Storage Market, by Country, 2021-2031 (Mwh)
Table 115. Brazil Solar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 116. Brazil Solar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 117. Brazil Solar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 118. Brazil Solar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 119. South Africa, Solar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 120. South Africa, Solar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 121. South Africa, Solar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 122. South Africa, Solar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 123. Saudi Arabia Solar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 124. Saudi Arabia Solar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 125. Saudi Arabia Solar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 126. Saudi Arabia Solar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 127. Rest of LAMEA Solar Energy Storage Market, by Type, 2021-2031 ($Million)
Table 128. Rest of LAMEA Solar Energy Storage Market, by Type, 2021-2031 (Mwh)
Table 129. Rest of LAMEA Solar Energy Storage Market, by Installation, 2021-2031 ($Million)
Table 130. Rest of LAMEA Solar Energy Storage Market, by Installation, 2021-2031 (Mwh)
Table 131. Enersys: Company Snapshot
Table 132. Enersys: Operating Segments
Table 133. Enersys: Product Portfolio
Table 134. Enersys: Net Sales
Table 135. Enersys: Key Strategies
Table 136. Kokam: Company Snapshot
Table 137. Kokam: Operating Segments
Table 138. Kokam: Product Portfolio
Table 139. Kokam: Net Sales
Table 140. Kokam: Key Strategies
Table 141. Samsung: Company Snapshot
Table 142. Samsung: Operating Segments
Table 143. Samsung: Product Portfolio
Table 144. Samsung: Net Sales
Table 145. Samsung: Key Strategies
Table 146. Adara Power: Company Snapshot
Table 147. Adara Power: Operating Segments
Table 148. Adara Power: Product Portfolio
Table 149. Adara Power: Net Sales
Table 150. Adara Power: Key Strategies
Table 151. BASF SE: Company Snapshot
Table 152. BASF SE: Operating Segments
Table 153. BASF SE: Product Portfolio
Table 154. BASF SE: Net Sales
Table 155. BASF SE: Key Strategies
Table 156. BMW: Company Snapshot
Table 157. BMW: Operating Segments
Table 158. BMW: Product Portfolio
Table 159. BMW: Net Sales
Table 160. BMW: Key Strategies
Table 161. Evonik Industries AG: Company Snapshot
Table 162. Evonik Industries AG: Operating Segments
Table 163. Evonik Industries AG: Product Portfolio
Table 164. Evonik Industries AG: Net Sales
Table 165. Evonik Industries AG: Key Strategies
Table 166. Leclanché SA: Company Snapshot
Table 167. Leclanché SA: Operating Segments
Table 168. Leclanché SA: Product Portfolio
Table 169. Leclanché SA: Net Sales
Table 170. Leclanché SA: Key Strategies
Table 171. LG Chem Ltd.: Company Snapshot
Table 172. LG Chem Ltd.: Operating Segments
Table 173. LG Chem Ltd.: Product Portfolio
Table 174. LG Chem Ltd.: Net Sales
Table 175. LG Chem Ltd.: Key Strategies
Table 176. Lg Electronics Inc.: Company Snapshot
Table 177. Lg Electronics Inc.: Operating Segments
Table 178. Lg Electronics Inc.: Product Portfolio
Table 179. Lg Electronics Inc.: Net Sales
Table 180. Lg Electronics Inc.: Key Strategies
Table 181. Maxwell Technologies: Company Snapshot
Table 182. Maxwell Technologies: Operating Segments
Table 183. Maxwell Technologies: Product Portfolio
Table 184. Maxwell Technologies: Net Sales
Table 185. Maxwell Technologies: Key Strategies
Table 186. Owens Corning: Company Snapshot
Table 187. Owens Corning: Operating Segments
Table 188. Owens Corning: Product Portfolio
Table 189. Owens Corning: Net Sales
Table 190. Owens Corning: Key Strategies
Table 191. Ppg Industries, Inc.: Company Snapshot
Table 192. Ppg Industries, Inc.: Operating Segments
Table 193. Ppg Industries, Inc.: Product Portfolio
Table 194. Ppg Industries, Inc.: Net Sales
Table 195. Ppg Industries, Inc.: Key Strategies
Table 196. Primus Power: Company Snapshot
Table 197. Primus Power: Operating Segments
Table 198. Primus Power: Product Portfolio
Table 199. Primus Power: Net Sales
Table 200. Primus Power: Key Strategies
Table 201. Siemens Energy: Company Snapshot
Table 202. Siemens Energy: Operating Segments
Table 203. Siemens Energy: Product Portfolio
Table 204. Siemens Energy: Net Sales
Table 205. Siemens Energy: Key Strategies
Table 206. Sumitomo Chemical Co. Ltd.: Company Snapshot
Table 207. Sumitomo Chemical Co. Ltd.: Operating Segments
Table 208. Sumitomo Chemical Co. Ltd.: Product Portfolio
Table 209. Sumitomo Chemical Co. Ltd.: Net Sales
Table 210. Sumitomo Chemical Co. Ltd.: Key Strategies
Table 211. the Lubrizol Corporation: Company Snapshot
Table 212. the Lubrizol Corporation: Operating Segments
Table 213. the Lubrizol Corporation: Product Portfolio
Table 214. the Lubrizol Corporation: Net Sales
Table 215. the Lubrizol Corporation: Key Strategies

List of Figures
Figure 1. Solar Energy Storage Market Segmentation
Figure 2. Solar Energy Storage Market, 2021-2031
Figure 3. Solar Energy Storage Market, 2021-2031
Figure 4. Top Investment Pockets, by Region
Figure 5. Porter Five-1
Figure 6. Porter Five-2
Figure 7. Porter Five-3
Figure 8. Porter Five-4
Figure 9. Porter Five-5
Figure 10. Top Player Positioning
Figure 11. Solar Energy Storage Mark.:Drivers, Restraints and Opportunities
Figure 12. Value Chain Analysis
Figure 13. Key Regulation Analysis
Figure 14. Patent Analysis by Company
Figure 15. Patent Analysis by Country
Figure 16. Pricing Analysis
Figure 17. Solar Energy Storage Market, By Type, 2021(%)
Figure 18. Comparative Share Analysis of Lead Acid Solar Energy Storage Market, 2021-2031(%)
Figure 19. Comparative Share Analysis of Lithium Ion Solar Energy Storage Market, 2021-2031(%)
Figure 20. Comparative Share Analysis of Flow Battery Solar Energy Storage Market, 2021-2031(%)
Figure 21. Comparative Share Analysis of Others Solar Energy Storage Market, 2021-2031(%)
Figure 22. Solar Energy Storage Market, By Installation, 2021(%)
Figure 23. Comparative Share Analysis of on Grid Solar Energy Storage Market, 2021-2031(%)
Figure 24. Comparative Share Analysis of Off Grid Solar Energy Storage Market, 2021-2031(%)
Figure 25. Solar Energy Storage Market by Region, 2021
Figure 26. U.S. Solar Energy Storage Market, 2021-2031($Million)
Figure 27. Canada Solar Energy Storage Market, 2021-2031($Million)
Figure 28. Mexico Solar Energy Storage Market, 2021-2031($Million)
Figure 29. Germany Solar Energy Storage Market, 2021-2031($Million)
Figure 30. France Solar Energy Storage Market, 2021-2031($Million)
Figure 31. Italy Solar Energy Storage Market, 2021-2031($Million)
Figure 32. Spain Solar Energy Storage Market, 2021-2031($Million)
Figure 33. Uk Solar Energy Storage Market, 2021-2031($Million)
Figure 34. Rest of Europe Solar Energy Storage Market, 2021-2031($Million)
Figure 35. China Solar Energy Storage Market, 2021-2031($Million)
Figure 36. Japan Solar Energy Storage Market, 2021-2031($Million)
Figure 37. India Solar Energy Storage Market, 2021-2031($Million)
Figure 38. South Korea Solar Energy Storage Market, 2021-2031($Million)
Figure 39. Australia Solar Energy Storage Market, 2021-2031($Million)
Figure 40. Rest of Asia-Pacific Solar Energy Storage Market, 2021-2031($Million)
Figure 41. Brazil Solar Energy Storage Market, 2021-2031($Million)
Figure 42. South Africa, Solar Energy Storage Market, 2021-2031($Million)
Figure 43. Saudi Arabia Solar Energy Storage Market, 2021-2031($Million)
Figure 44. Rest of LAMEA Solar Energy Storage Market, 2021-2031($Million)
Figure 45. Top Winning Strategies, by Year
Figure 46. Top Winning Strategies, by Development
Figure 47. Top Winning Strategies, by Company
Figure 48. Product Mapping of Top 10 Players
Figure 49. Competitive Dashboard
Figure 50. Competitive Heatmap of Top 10 Key Players
Figure 51. Enersy.: Net Sales, ($Million)
Figure 52. Koka.: Net Sales, ($Million)
Figure 53. Samsun.: Net Sales, ($Million)
Figure 54. Adara Powe.: Net Sales, ($Million)
Figure 55. Basf S.: Net Sales, ($Million)
Figure 56. Bm.: Net Sales, ($Million)
Figure 57. Evonik Industries A.: Net Sales, ($Million)
Figure 58. Leclanché S.: Net Sales, ($Million)
Figure 59. Lg Chem Lt.: Net Sales, ($Million)
Figure 60. Lg Electronics Inc.: Net Sales, ($Million)
Figure 61. Maxwell Technologie.: Net Sales, ($Million)
Figure 62. Owens Cornin.: Net Sales, ($Million)
Figure 63. Ppg Industries, Inc.: Net Sales, ($Million)
Figure 64. Primus Powe.: Net Sales, ($Million)
Figure 65. Siemens Energ.: Net Sales, ($Million)
Figure 66. Sumitomo Chemical Co. Lt.: Net Sales, ($Million)
Figure 67. The Lubrizol Corporatio.: Net Sales, ($Million)

Executive Summary

According to the report, “Solar Energy Storage Market," the solar energy storage market size was valued at $9.8 billion in 2021, and is estimated to reach $20.9 billion by 2031, growing at a CAGR of 7.9% from 2022 to 2031.

Solar energy is stored in a battery by pumping solar energy into battery to initiate a chemical reaction among the component of the battery and discharge the power as per requirement. It is made of lithium ion or lead acid. It is rechargeable and can be generally used in solar cell systems to store excess energy. Some of the major installations of solar battery include solar charging stations, storage for power plants, and storage system for off-grids.

Growing demand for sustainable energy storage solutions is the major factor driving the market growth. As governments across the globe are promoting sustainable energy sources, the demand for solar battery is expected to increase over the projected timeframe.

However, the installments of solar energy storage systems in remote locations is difficult as they are difficult to reach. The remote locations usually include islands and off-grid remote locations, which face various challenges owing to variable generation and supply of power from renewable energy sources. Challenges may include natural calamity, temperature variation, and others. This may be anticipated to hinder the solar energy storage market growth.

The rise in population, increase in disposable income, and growing residential activities has surged the demand for solar energy storage. The installation of solar battery can effectively reduce the demand for coal, oil, and other imported fossil energy resources. Additionally, the implementation of solar battery storage systems will provide new employments, which can open new investment opportunities in the economy.

The Solar energy storage market analysis is segmented on the basis of by type, by installations, and region. By type, the market is segregated into lead acid, lithium ion, flow battery, and others. The lithium ion type segment dominated the global market, in terms of revenue in 2021, with 44% of the total share. This is attributed to the fact that rise in industrialization, urbanization, and growing consumer demand for various electric-based devices, vehicles, and growing prominence of sustainable energy solutions.

By installation, the market is fragmented into on grid and off grid. On grid installation segment dominated the global market, with 62% of the total share in 2021. This is attributed to the rise in the urbanization, advancement in technology in the field of solar energy storage, and increase in the number of installments of on-grid solar energy system in both developed and developing economies such as the U.S., China, and India.

Region-wise, the solar energy storage market forecast is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific solar energy storage market size is projected to grow at the highest CAGR during the forecast period, and accounted 35% of solar energy market share in 2021, owing to rise in concern from governments across emerging nations, such as China, India, and South Korea, regarding zero emission norms has increased the demand for solar energy storage batteries, thus, several manufacturer have put more emphasis on increasing the production capacities for solar energy storage batteries in the region.

Key players operating in the global solar energy storage market ADARA POWER,BASF SE, BMW, ENERSYS, Evonik Industries AG, KOKAM, Leclanché SA, LG CHEM, LG Electronics, MAXWELL TECHNOLOGIES, Owens Corning, PPG Industries, Inc., PRIMUS POWER, SAMSUNG, Siemen AG, Sumitomo Chemical Co., Ltd, and THE LUBRIZOL CORPORATION.

Impact of COVID-19 on the global solar energy storage market industry

Reduced expenditure of consumers during the lockdown highly impacted the market for solar products, including various solar energy storage systems. Moreover, the upstream and downstream channels have been affected due to restrictions on movement, which lead to increase in the amount of inventories. Furthermore, high dependency on Chinese exports for solar cell, solar energy storage, and solar module negatively impacted the market. India imports around 80% of its solar products from China. As the manufacturing firms in China were idle for the last 6-7 months, it highly impacted the production process in India.

However, shifting trend toward remote working is considered a vital solution to improve the market conditions. Various automation companies utilize remote connectivity to ensure the access to field operators and service engineers who cannot be on site at this time. In the 2nd quarter of COVID-19, approximately 20% of people preferred electric micro mobility devices which are working on lithium ion battery.

Key Findings of the Study

  • In terms of type, lithium ion segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of % from 2022 to 2031.
  • In terms of installation, on grid segment is anticipated to register the highest CAGR of 8.2% during the forecast period.
  • By region, the Europe garnered the highest share of 35% in 2021, in terms of revenue, growing at a CAGR of 8.6%.

Companies Mentioned

  • Enersys
  • Kokam
  • SAMSUNG
  • ADARA POWER
  • BASF SE
  • BMW
  • EVONIK INDUSTRIES AG
  • Leclanché SA
  • LG Chem Ltd
  • LG Electronics Inc.
  • MAXWELL TECHNOLOGIES
  • Owens Corning
  • PPG Industries, Inc.
  • Primus Power
  • Siemens Energy
  • Sumitomo Chemical Co., Ltd
  • The Lubrizol Corporation

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

Loading
LOADING...