Market Overview:
The global solar power system batteries market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for solar energy across the globe. Solar energy is a renewable source of energy that can be harnessed through photovoltaic (PV) cells. PV cells convert sunlight into electrical energy, which can be used for various applications such as residential, commercial, and industrial purposes. The global solar power system batteries market has been segmented on the basis of type, application, and region. On the basis of type, the market has been segmented into lithium-ion batteries, lead-acid batteries, and others. Lithium-ion batteries are expected to dominate the global solar power system battery market during the forecast period owing to their high efficiency and long life cycle as compared to other types of battery systems available in the market.
Product Definition:
A solar power system battery is a device that stores energy from a solar panel. The energy can be used to power devices such as lights or electrical equipment. Solar power system batteries are important because they allow people to use solar energy even when the sun isn't shining.
Lithium-ion Batteries:
Lithium-ion batteries are rechargeable batteries made from lithium and ion. These are different from the Nickel-Cadmium or conventional battery as they have higher energy density, less self-discharge rate and can be used in any environment. Lithium iron phosphate is the most common raw material used for manufacturing these batteries. The other raw materials include graphite, cobalt, manganese, aluminum and titanium among others.
Lead-acid Batteries:
Lead-acid batteries are the most commonly used type of battery in solar power system batteries market. They have a higher energy density than any other battery and hence can be used to store large amounts of electrical energy. Lead-acid batteries are also inexpensive, easy to manufacture, and durable which makes them suitable for numerous applications including starting systems in automobiles and electric vehicles as well as storage units for electricity generated from photovoltaic cells.
Application Insights:
PV power station was the largest application segment in 2017 and is expected to maintain its dominance over the forecast period. Increasing demand for clean energy owing to rising environmental concerns has been a major factor driving this market. The commercial application segment is also estimated to witness significant growth during the same period owing to growing investments in renewable energy infrastructure across various countries, including China, India and Australia.
The residential sector is likely to exhibit rapid growth over the forecast period due largelyto increasing urbanization trends across various regions ofthe world coupled with government initiatives promoting home solar systems as an affordable source of electricity generation.
Regional Analysis:
Asia Pacific regional solar power system batteries market is anticipated to witness significant growth over the forecast period. The region accounted for a share of more than 30% in 2016 and is estimated to grow at a CAGR of XX% from 2017 to 2030 owing to increasing investments in renewable energy infrastructure, growing PV installations, and rising demand for electric vehicles.
The European regional market captured a significant share in 2016 owing to the high penetration rate of solar panels across countries such as Germany, Italy, Spain etc., which has resulted into increased demand for battery systems that can be used during cloudy or windless conditions. Moreover, technological advancements related to lithium-ion battery cells have led towards cost-effective production resulting into increased adoption across end-use industries such as telecom & IT and automotive among others in Europe region thereby driving the global industry growth over the forecast period.
Growth Factors:
- Increasing demand for solar power systems owing to the growing awareness about the benefits of renewable energy sources
- Favorable government policies and regulations supporting the deployment of solar power systems
- Reduction in battery prices due to technological advancements and economies of scale
- Growing demand from developing countries for off-grid solar applications
- Proliferation of smart grids and energy storage technologies
Scope Of The Report
Report Attributes
Report Details
Report Title
Solar Power System Batteries Market Research Report
By Type
Lithium-ion Batteries, Lead-acid Batteries, Others
By Application
PV Power Station, Commercial, Residential
By Companies
Samsung SDI, LG Energy Solution, Tesla, Sacred Sun, BYD, Kokam, Alpha ESS, VARTA, NGK Insulators, Sonnen, E3/DC
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
219
Number of Tables & Figures
154
Customization Available
Yes, the report can be customized as per your need.
Global Solar Power System Batteries Market Report Segments:
The global Solar Power System Batteries market is segmented on the basis of:
Types
Lithium-ion Batteries, Lead-acid Batteries, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
PV Power Station, Commercial, Residential
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Samsung SDI
- LG Energy Solution
- Tesla
- Sacred Sun
- BYD
- Kokam
- Alpha ESS
- VARTA
- NGK Insulators
- Sonnen
- E3/DC
Highlights of The Solar Power System Batteries Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Lithium-ion Batteries
- Lead-acid Batteries
- Others
- By Application:
- PV Power Station
- Commercial
- Residential
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Solar Power System Batteries Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A solar power system batteries is a device that stores energy from the sun to be used later. This can be done in many ways, but typically it involves using lead acid or nickel-cadmium batteries.
Some of the major players in the solar power system batteries market are Samsung SDI, LG Energy Solution, Tesla, Sacred Sun, BYD, Kokam, Alpha ESS, VARTA, NGK Insulators, Sonnen, E3/DC.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Solar Power System Batteries Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Solar Power System Batteries Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Solar Power System Batteries Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Solar Power System Batteries Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Solar Power System Batteries Market Size & Forecast, 2020-2028
4.5.1 Solar Power System Batteries Market Size and Y-o-Y Growth
4.5.2 Solar Power System Batteries Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Lithium-ion Batteries
5.2.2 Lead-acid Batteries
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 PV Power Station
6.2.2 Commercial
6.2.3 Residential
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Solar Power System Batteries Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Solar Power System Batteries Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Lithium-ion Batteries
9.6.2 Lead-acid Batteries
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 PV Power Station
9.10.2 Commercial
9.10.3 Residential
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Lithium-ion Batteries
10.6.2 Lead-acid Batteries
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 PV Power Station
10.10.2 Commercial
10.10.3 Residential
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Lithium-ion Batteries
11.6.2 Lead-acid Batteries
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 PV Power Station
11.10.2 Commercial
11.10.3 Residential
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Lithium-ion Batteries
12.6.2 Lead-acid Batteries
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 PV Power Station
12.10.2 Commercial
12.10.3 Residential
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Lithium-ion Batteries
13.6.2 Lead-acid Batteries
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 PV Power Station
13.10.2 Commercial
13.10.3 Residential
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Solar Power System Batteries Market: Competitive Dashboard
14.2 Global Solar Power System Batteries Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Samsung SDI
14.3.2 LG Energy Solution
14.3.3 Tesla
14.3.4 Sacred Sun
14.3.5 BYD
14.3.6 Kokam
14.3.7 Alpha ESS
14.3.8 VARTA
14.3.9 NGK Insulators
14.3.10 Sonnen
14.3.11 E3/DC
