Dublin, Nov. 03, 2022 (GLOBE NEWSWIRE) -- The "Residential Energy Storage Market by Power Rating (3-6 kW, 6-10 kW, 10-20 kW), Connectivity (On-Grid, Off-Grid), Technology (Lead-Acid, Lithium-Ion), Ownership (Customer, Utility, Third-Party), Operation (Standalone, Solar), Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The residential energy storage market is expected to grow from an estimated in USD 719 million in 2022 to USD 1,828 million by 2027, at a CAGR of 20.5% during the forecast period.
The primary drivers of the market include rising demand for energy production through renewable sources accompanies by the increasing investments in the renewables sector.
The 6 - 10 kW, by power rating, is expected to be the largest and the fastest-growing market from 2022 to 2027
The residential energy storage market, by application, is bifurcated into 3 - 6 kW, 6 - 10 kW, and 10 - 20 kW. The 6 - 10 kW segment is expected to dominate in terms of market share and CAGR during the forecast period and this dominance can be attributed to the decreased dependence on grid supply as storage can provide backup in the event of a grid outage.
The lithium-ion segment, by technology, is expected to be the fastest-growing market from 2022 to 2027
The residential energy storage market by technology is segmented into lithium-ion and lead-acid. The lithium-ion segment is expected to be the fastest growing segment. The high growth rate can be attributed to the increasing number of manufacturing sites and high investment in R & D of lithium-ion batteries
The Customer-owned, by ownership type, is expected to be the largest and the fastest-growing market from 2022 to 2027
The residential energy storage market, by ownership type, is bifurcated into customer-owned, utility-owned, and third-party-owned. The customer-owned segment is expected to be the fastest growing market followed by utility-owned during the forecast period. This dominance can be attributed lower energy bills and are becoming energy independent because of residential energy storage homes.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities for Players in Residential Energy Storage Market
4.2 Residential Energy Storage Market, by Region
4.3 Residential Energy Storage, by Power Rating
4.4 Residential Energy Storage Market, by Ownership Type
4.5 Residential Energy Storage Market, by Connectivity Type
4.6 Residential Energy Storage Market, by Technology
4.7 Residential Energy Storage Market, by Operation Type
5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Government Initiatives Pertaining to Energy Storage Projects
5.1.1.2 Significant Demand for Electric Vehicles
5.1.1.3 Increased Investments in R&D of Lithium-Ion Batteries
5.1.2 Restraints
5.1.2.1 Lack of Battery Disposal and Recycling Standards
5.1.2.2 High Initial Investment
5.1.3 Opportunities
5.1.3.1 Rising Demand for Grid Energy Storage Systems
5.1.3.2 Increasing Installation of Solar Pv Modules
5.1.4 Challenges
5.1.4.1 Safety Concerns for Lithium-Ion Batteries
5.1.4.2 Aging of Lithium-Ion Batteries
5.2 Impact of COVID-19
5.3 Trends/Disruptions Impacting Customer Business
5.4 Supply Chain Analysis
5.5 Ecosystem Analysis
5.6 Trade Analysis
5.7 Market Map
5.8 Technology Analysis
5.8.1 Lithium-Ion
5.8.2 Lead-Acid
5.8.3 Technology Advacements
5.9 Key Conferences and Events, 2022-2023
5.10 Patent Analysis
5.11 Pricing Analysis
5.12 Tariff and Regulatory Landscape
5.13 Case Study Analysis
5.13.1 Cmeec Aims to Energize Customers and Ensure Community Prosperity by Providing Lower-Cost Energy Solutions
5.13.1.1 Problem Statement
5.13.1.2 Solution
5.13.2 Byd Company Ltd. Launched New Battery Box System Compatible with All Pv Solar Inverters
5.13.2.1 Problem Statement
5.13.2.2 Solution
5.13.3 E3/Dc Fulfilled Demand of Homeowner Who Wanted to Achieve 80% of Energy Self-Sufficiency with Solar Power
5.13.3.1 Problem Statement
5.13.3.2 Solution
5.14 Porter's Five Forces Analysis
5.15 Key Stakeholders and Buying Criteria
6 Residential Energy Storage Market, by Technology
6.1 Introduction
6.2 Lithium-Ion
6.2.1 Have Higher Energy Density Than Lead-Acid Batteries
6.3 Lead-Acid
6.3.1 Long Lifespan of Lead-Acid Batteries to Drive Market
7 Residential Energy Storage Market, by Power Rating
7.1 Introduction
7.2 3 to <6 Kw
7.2.1 Growing Demand for Systems with Lowest Power Input to Stimulate Market Growth
7.3 6 to <10 Kw
7.3.1 Long-Duration Power Outages to Promote Use of Systems with 6 to <10 Kw Power Rating
7.4 10 to 20 Kw
7.4.1 Need for High-Power Appliances Boosts Demand for Systems with High Power Rating
8 Residential Energy Storage Market, by Ownership Type
8.1 Introduction
8.2 Customer-Owned
8.2.1 Resolve Issues of Overvoltage and Imbalance of Energy Supply and Demand
8.3 Utility-Owned
8.3.1 Global Renewable Energy Generation Initiatives to Boost Installation of Utility-Owned Ess
8.4 Third-Party-Owned
8.4.1 High Upfront Cost and Low Per Capita Income to Boost Demand for Third-Party-Owned Ess
9 Residential Energy Storage Market, by Operation Type
9.1 Introduction
9.2 Standalone Systems
9.2.1 Lower Upfront Costs of Standalone Systems to Drive Market Growth
9.3 Solar and Storage Systems
9.3.1 High Requirement for Energy Self-Sufficiency to Boost Demand for Solar and Storage Systems
10 Residential Energy Storage Market, by Connectivity Type
10.1 Introduction
10.2 On-Grid
10.2.1 Rising Use of On-Grid Battery Storage Systems to Reduce Energy Bills
10.3 Off-Grid
10.3.1 Need to Keep Environment Clean and Safe to Promote Use of Off-Grid Systems
11 Residential Energy Storage Market, by Region
12 Competitive Landscape
12.1 Overview
12.2 Market Evaluation Framework
12.3 Share Analysis of Key Players, 2021
12.4 Segmental Revenue Analysis of Top Market Players
12.5 Recent Developments
12.5.1 Deals
12.5.1.1 Residential Energy Storage Market: Deals, 2018-2022
12.5.2 Others
12.5.2.1 Residential Energy Storage Market: Others, 2018-2022
12.5.3 Product Launches/Developments
12.5.3.1 Residential Energy Storage Market: Product Launches/Developments, 2018-2022
12.6 Company Evaluation Quadrant
12.6.1 Stars
12.6.2 Emerging Leaders
12.6.3 Pervasive Companies
12.6.4 Participants
12.7 Startup/Sme Evaluation Quadrant
12.7.1 Progressive Companies
12.7.2 Responsive Companies
12.7.3 Dynamic Companies
12.7.4 Starting Blocks
12.8 Competitive Benchmarking
13 Company Profiles
13.1 Key Players
13.1.1 Tesla
13.1.2 Panasonic Holdings Corporation
13.1.3 Byd Company Ltd.
13.1.4 Enphase Energy
13.1.5 Sonnen Gmbh
13.1.6 Varta Ag
13.1.7 Delta Electronics, Inc.
13.1.8 Huawei Technologies Co. Ltd.
13.1.9 Eaton
13.1.10 Sma Solar Technology Ag
13.1.11 Lg Energy Solution
13.1.12 Goodwe
13.1.13 E3/Dc
13.1.14 Alpha Ess Co. Ltd.
13.1.15 Rct-Power
13.1.16 Solarwatt
13.1.17 Senec
13.1.18 Shanghai Pytes Energy Co. Ltd.
13.2 Other Players
13.2.1 Pylon Technologies Co. Ltd.
13.2.2 Victron Energy
13.2.3 Dyness
13.2.4 Tesvolt Ag
13.2.5 Turbo Energy - Solar Innovation
13.2.6 Bst Power (Shenzhen) Limited
13.2.7 Weco Srl
13.2.8 Powervault
14 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/ggbapv
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