PUBLISHER: IMARC | PRODUCT CODE: 1298811
PUBLISHER: IMARC | PRODUCT CODE: 1298811
Solar Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global solar battery market size reached US$ 179.3 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 407.2 Million by 2028, exhibiting a growth rate (CAGR) of 13.9% during 2023-2028.
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 2023-2028. 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 2022?
2. What is the expected growth rate of the global solar battery market during 2023-2028?
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?
Table of Contents
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
- 9.1.1 United States
- 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
- 9.2.1 China
- 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
- 9.3.1 Germany
- 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
- 9.4.1 Brazil
- 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
- 14.3.1 BAE Batterien GmbH
List of Figures
- Figure 1: Global: Solar Battery Market: Major Drivers and Challenges
- Figure 2: Global: Solar Battery Market: Sales Value (in Million US$), 2017-2022
- Figure 3: Global: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 4: Global: Solar Battery Market: Breakup by Type (in %), 2022
- Figure 5: Global: Solar Battery Market: Breakup by Capacity (in %), 2022
- Figure 6: Global: Solar Battery Market: Breakup by End User (in %), 2022
- Figure 7: Global: Solar Battery Market: Breakup by Region (in %), 2022
- Figure 8: Global: Solar Battery (Lead Acid) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 9: Global: Solar Battery (Lead Acid) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 10: Global: Solar Battery (Lithium Ion) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: Global: Solar Battery (Lithium Ion) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: Global: Solar Battery (Flow Battery) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: Global: Solar Battery (Flow Battery) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: Global: Solar Battery (Other Types) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: Global: Solar Battery (Other Types) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Global: Solar Battery (Below 75 AH) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Global: Solar Battery (Below 75 AH) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Global: Solar Battery (75 To 150 AH) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Global: Solar Battery (75 To 150 AH) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: Global: Solar Battery (Above 150 AH) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: Global: Solar Battery (Above 150 AH) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: Global: Solar Battery (Industrial) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: Global: Solar Battery (Industrial) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: Global: Solar Battery (Commercial) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: Global: Solar Battery (Commercial) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: Global: Solar Battery (Residential) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: Global: Solar Battery (Residential) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: North America: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: North America: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: United States: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: United States: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: Canada: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: Canada: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: Asia-Pacific: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: Asia-Pacific: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: China: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: China: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: Japan: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: Japan: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 40: India: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 41: India: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: South Korea: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 43: South Korea: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 44: Australia: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 45: Australia: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 46: Indonesia: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 47: Indonesia: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 48: Others: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 49: Others: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 50: Europe: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 51: Europe: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 52: Germany: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 53: Germany: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 54: France: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 55: France: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 56: United Kingdom: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 57: United Kingdom: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 58: Italy: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 59: Italy: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 60: Spain: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 61: Spain: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 62: Russia: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 63: Russia: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 64: Others: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 65: Others: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 66: Latin America: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 67: Latin America: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 68: Brazil: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 69: Brazil: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 70: Mexico: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 71: Mexico: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 72: Others: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 73: Others: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 74: Middle East and Africa: Solar Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 75: Middle East and Africa: Solar Battery Market: Breakup by Country (in %), 2022
- Figure 76: Middle East and Africa: Solar Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- 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
List of Tables
- Table 1: Global: Solar Battery Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Solar Battery Market Forecast: Breakup by Type (in Million US$), 2023-2028
- Table 3: Global: Solar Battery Market Forecast: Breakup by Capacity (in Million US$), 2023-2028
- Table 4: Global: Solar Battery Market Forecast: Breakup by End User (in Million US$), 2023-2028
- Table 5: Global: Solar Battery Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 6: Global: Solar Battery Market: Competitive Structure
- Table 7: Global: Solar Battery Market: Key Players
