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Classified in: Environment, Covid-19 virus
Subject: MRR

Solar Batteries Market to record USD 7.89 Bn growth | Evolving Opportunities with A123 Systems LLC and Alpha ESS Co. Ltd.


NEW YORK, Sept. 25, 2022 /PRNewswire/ -- The solar batteries market size is expected to grow by USD 7.89 billion, accelerating at a CAGR of 15.46% during the forecast period. The market is fragmented and is characterized by the presence of well-diversified international vendors. The market comprises many small-scale manufacturers that produce and sell batteries. Large players with diversified business operations can manage their profitability during the volatile demand for batteries because revenues from other sources offset the decline in battery revenues. The requirement of high initial investments is limiting the entry of new players into the market. Get deeper insights into the vendor landscape, successful strategies adopted by vendors, and other important aspects. Buy Report Now

The market is driven by the implementation of solar-plus-storage systems. In addition, increasing investments in renewable energy are anticipated to further boost the growth of the solar batteries market.

Solar-plus-storage systems, also known as PV systems are charged by a linked solar system. These systems monitor and divert excess energy to the batteries instead of sending them back to the grid. Such benefits are increasing their popularity among end-users. The adoption of these systems is expected to increase over the forecast period with advancements in research and declining costs. All these factors are expected to foster the growth of the global solar batteries market during the forecast period.

Major Solar Batteries Manufacturers:

Solar Batteries Market Segmentation by Technology

The market growth in the Li-ion segment will be significant over the forecast period. The segment is driven by the benefits of Li-ion batteries such as Higher depth of discharge, long lifespan, higher energy density, high efficiency, and less maintenance.

Solar Batteries Market Segmentation by Geography

APAC will emerge as the dominant region, occupying 41% of the global market share. The growth of the regional market can be attributed to growing environmental concerns and rising demand for energy. The rising demand for solar batteries from the residential and utility sectors will also contribute to the growth of the solar batteries market in APAC during the forecast period.

Technavio's sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request Sample Report Here

Related Reports:

Solar Batteries Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 15.46%

Market growth 2022-2026

USD 7.89 billion

Market structure

Fragmented

YoY growth (%)

11.59

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 41%

Key consumer countries

US, China, South Korea, Japan, and India

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

A123 Systems LLC, Alpha ESS Co. Ltd., GS Yuasa Corp., BYD Co. Ltd., Contemporary Amperex Technology Co. Ltd., East Penn Manufacturing Co. Inc., EnerSys, Exide Industries Ltd., Inti Photovoltaics S.L., LG Energy Solution Ltd., Loom Solar Pvt. Ltd., Primus Power Solutions, Renon Power Technology Inc., Robert Bosch GmbH, Samsung SDI Co. Ltd., SolarEdge Technologies Inc., Sunergy Solar, Tesla Inc., Panasonic Corp, and BAE Batterien GmbH

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Technology

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

SOURCE Technavio


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News published on 25 september 2022 at 23:00 and distributed by: