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Residential Solar Energy Storage Market by Technology and Geography - Forecast and Analysis 2020-2024

  • Published: May 2020
  • Pages: 120
  • SKU: IRTNTR41401
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To help clients improve their market position, the residential solar energy storage market report for 2020-2024 provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • East Penn Manufacturing Co. Inc.
  • Enphase Energy Inc.
  • LG Chem Ltd.
  • LG Electronics Inc.
  • Panasonic Corp.
  • redT energy Plc
  • Royal Dutch Shell Plc
  • Samsung SDI Co. Ltd.
  • Sony Corp.
  • TOTAL SA

Market Overview

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This residential solar energy storage market analysis report provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

The residential solar energy storage market size will likely grow by USD 26.59 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. This report provides a detailed analysis of the market by technology (Li-ion batteries and lead-acid batteries) and geography (APAC, Europe, MEA, North America, and South America).

The market is fragmented. The rising energy costs will offer immense growth opportunities. However, technical challenges associated with battery technology may impede the market growth. To make the most of the opportunities, vendors should focus on growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Residential Solar Energy Storage Market: Segmentation by Geography

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The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. APAC had the largest market share in the residential solar energy storage market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Increasing green construction spending and zero energy home will significantly influence residential solar energy storage market growth in this region.

51% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for residential solar energy storage market in APAC. The growth of the residential solar energy storage market size in this region will be faster than the growth of the market in other regions. This report provides an accurate prediction of the contribution of all segments to the growth of the residential solar energy storage market size.

Residential Solar Energy Storage Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive residential solar energy storage market growth during the next five years
  • Precise estimation of the residential solar energy storage market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the residential solar energy storage industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of residential solar energy storage market vendors

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Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Technology

  • Market segments
  • Comparison by Technology placement
  • Li-ion batteries - Market size and forecast 2019-2024
  • Lead-acid batteries - Market size and forecast 2019-2024
  • Market opportunity by Technology

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers
  • Volume driver - Demand led growth
  • Volume driver - Supply led growth
  • Volume driver - External factors
  • Volume driver - Demand shift in adjacent markets
  • Price driver - Inflation
  • Price driver - Shift from lower to higher-priced units
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • East Penn Manufacturing Co. Inc.
  • Enphase Energy Inc.
  • LG Chem Ltd.
  • LG Electronics, Inc.
  • Panasonic Corp.
  • redT energy Plc
  • Royal Dutch Shell Plc
  • Samsung SDI Co. Ltd.
  • Sony Corp.
  • TOTAL SA

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The residential solar energy storage market growth will increase by $26.59 billion during 2019-2024.
The residential solar energy storage market is expected to grow at a CAGR of 37.00% during 2019-2024.
Technavio has segmented the residential solar energy storage market by technology (Li-ion batteries and Lead acid batteries) and geographic (APAC, North America, Europe, and South America).
East Penn Manufacturing Co. Inc., Enphase Energy Inc., LG Chem Ltd., LG Electronics Inc., Panasonic Corp., redT energy Plc, Royal Dutch Shell Plc, Samsung SDI Co. Ltd., Sony Corp., TOTAL SA are a few of the key vendors in the residential solar energy storage market.
APAC will register the highest growth rate of 52.40% among the other regions. Therefore, the residential solar energy storage market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the residential solar energy storage market growth are:
  • Reduction in PV and energy storage systems costs
  • Residential energy storage as virtual power plants
The residential solar energy storage market vendors should focus on grabbing business opportunities from the li-ion batteries segment as it accounted for the largest market share in the base year.
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