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Global Residential Energy Storage Market By Power Rating (3-6 KW, 6-10 KW), By Connectivity (On-Grid Connected, Off-Grid), By Technology (Lithium-ion Battery, Lead-acid Battery), By Region–Forecast & Opportunities to 2026

Report Description

Residential energy storage market was valued USD 6.3 billion in 2019. This market is estimated to register growth at a CAGR of 12.5% for the period of 2020-2026.

Covid19 has impacted the market of residential energy storage. It has hit the market in a negative manner. Due to lockdown many industries has stopped working for few months are unable to make any profits which has lower down their market growth.

Definition:

Residential energy storage is defined as the system installed in various residential areas or households. It used batteries to store energy which can be further used when required for various purposes. The residential energy storage helps in providing backup power at the time of power outages. RES can be used in residential, commercial and industrial sectors.

Market Dynamics (Drivers/Opportunities):

The decline in cost of residential energy storage setup has played a vital role in improving the market growth in this sector. As the cost barrier declined people are adapting this technology, owing to hue increment in this sector.

As we know the government is promoting electric vehicles in every region. Hence the utilization of electric vehicle has been increasing rapidly. The increase in electric vehicle use will create great opportunities in residential energy storage market during the forecast period. Regulatory and financial support is also provided by government leading to rise in this sector.

The residential energy storage helps in providing backup power at the time of power outages. Hence it is very vital for energy industry. This feature is in demand by many industries and essential for various purposes. Thus drive market to huge growth in near future.

Market Insights, by Power rating

Based on power rating, the RES market has been segmented into 3-6 kW and 6-10 kW. The 3-6kW power rating is expected to dominate the market and projected to register growth at highest CAGR. EVs and solar PV are charged using 3-6 kW power rating batteries.

Market Insights, by Connectivity

Based on connectivity, The RESS is segmented into On-Grid and Off-Grid. The On-Grid segment has accounted for maximum market share in year 2019. However the OFF- Grid market is now expanding very rapidly and it is expected to grow at a highest CAGR for the forecast period. The main factors that are driving Off-grid sectors are the need for self-sufficiency and portability.

 

Market Insights, by Technology

Based on technology RES market is segmented into Li-ion and Lead-acid. The lithium-ion market is expected to register growth at highest CAGR. This segment is a fastest growing segment and expected to account for highest market share.

Regional Insights

Based on region, the residential energy storage market has been segmented into North America, South America, Europe, Asia- pacific and Middle East & Africa. Europe has dominated the market in the year 2018. Europe region was accounted for maximum market share in 2019.

Asia-Pacific is expected to register growth at highest CAGR during the period of 2020-2026. Countries like China, Japan and Australia in Asia-Pacific region are driving the growth in this region. These countries are installing storage solution systems for residential users. These countries have witness rapid growth in residential storage system over the few years and expected to continue the growth.

Key Companies & Market Share Insights

The key players in RESS market are Huawei, Samsung SDI Co., Tesla, LG Chem, SMA Solar Technology, BYD, Siemens, Eaton, Schneider Electric, Panasonic, Sonnen, Saft Groupe, Hitachi, Sunverge Energy LLC and ABB.

Segments Covered in the Report

This report forecasts The Residential Energy Storage Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the residential energy storage market report on the basis of Power rating, Vehicle type, Technology and Region.

Residential Energy Storage Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  3. Executive Summary
    • Market Snapshot
  4. Industry Insights
    • Industry ecosystem analysis
      • ValueChain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Residential Energy Storage Market, By Power Rating, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • 3-6 kW
  • 6-10 kW
  1. Residential Energy Storage, By Connectivity, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • On-Grid
  • Off-Grid
  1. Residential Energy Storage, By Technology, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Lithium-ion
  • Lead-acid
  1. Residential Energy Storage, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Power Rating
    • By Connectivity
    • By Technology
    • By Country
      • USA
        • By Technology
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Power Rating
      • By Connectivity
      • By Technology
      • By Country
        • Brazil
          • By Technology
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Power Rating
        • By Connectivity
        • By Technology
        • By Country
          • UK
            • By Technology
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Power Rating
          • By Connectivity
          • By Technology
          • By Country
            • China
              • By Technology
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Power Rating
            • By Connectivity
            • By Technology
            • By Country
              • Saudi Arabia
                • By Technology
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • ABB
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • Center Glass Co.
    • Huawei
    • Samsung SDI Co.
    • Tesla
    • LG Chem
    • SMA Solar Technology
    • BYD, Siemens
    • Eaton,
    • Schneider Electric
    • Panasonic
    • Sonnen
    • Saft Groupe
    • Hitachi,
    • Sunverge Energy LLC
  2. Appendix
    • Interrelated Market

 

 

Q Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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