Solar Battery Market Opportunities 2031
Solar batteries are commonly used to store solar energy and discharge it as needed. Lithium ion or lead acid are used to make it. Sun batteries are rechargeable and can be used to store excess energy in solar cell systems. Solar batteries are used in a variety of applications, including solar charging stations, power plant storage, and off-grid storage. Significant surge in demand for eco-friendly and cost-effective energy solutions for industrial and commercial energy storage is expected to drive the market growth. Moreover, it is highly effective to reduce carbon footprint. As governments across the globe are promoting sustainable energy sources, the demand for solar battery is expected to increase during the projected timeframe. The implementation of solar battery in the residential and commercial sectors makes them energy independent and increase the self-reliance of the owner.
MARKET SCOPE
The "Global Solar battery Market Analysis to 2031" is a specialized and in-depth study of the Solar battery market with a special focus on the global market trend analysis. The report aims to provide an overview of Solar battery market with detailed market segmentation by technology, end-user, and geography. The global Solar battery market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Solar battery market players and offers key trends and opportunities in the Solar battery market.
MARKET SEGMENTATION
- The global solar battery market is segmented on the basis of technology, and end-user.
- On the basis of technology, the market is divided into lead acid batteries, lithium ion batteries, and sodium based batteries.
- On the basis of end-user the market is segmented into residential, industrial, and commercial.
MARKET DYNAMICS
Drivers:
- Significant surge in demand for eco-friendly and cost-effective energy solutions for industrial and commercial energy storage is expected to drive the market growth.
- Growing interest of industry players toward renewable energy storage solutions is expected to secure new investments over the forecast timeframe.
- Initial installation cost and high maintenance cost of solar battery are the major challenges for industry players.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The solar battery market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the solar battery market in these regions.
IMPACT OF COVID-19 ON SOLAR BATTERY MARKET
COVID-19 had an immediate impact on the worldwide solar battery sector due to social distancing norms and a labour shortage. As a result, new projects were cancelled and installations were postponed.
Furthermore, the substantial drop in consumer spending had a significant impact on demand. Consumer spending during the lockout had a significant impact on the solar battery sector, which included a variety of solar storage devices. Furthermore, due to movement restrictions, the upstream and downstream channels have been impacted, resulting in an increase in inventories. Furthermore, the market was harmed by a strong reliance on Chinese solar cell, solar battery, and solar module exports. Around 80% of India's solar products are imported from China. Because China's manufacturing enterprises have been idle for the past 6-7 years.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The solar battery market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the solar battery market in these regions.
IMPACT OF COVID-19 ON SOLAR BATTERY MARKET
COVID-19 had an immediate impact on the worldwide solar battery sector due to social distancing norms and a labour shortage. As a result, new projects were cancelled and installations were postponed.
Furthermore, the substantial drop in consumer spending had a significant impact on demand. Consumer spending during the lockout had a significant impact on the solar battery sector, which included a variety of solar storage devices. Furthermore, due to movement restrictions, the upstream and downstream channels have been impacted, resulting in an increase in inventories. Furthermore, the market was harmed by a strong reliance on Chinese solar cell, solar battery, and solar module exports. Around 80% of India's solar products are imported from China. Because China's manufacturing enterprises have been idle for the past 6-7 years.
MARKET PLAYERS
The report covers key developments in the solar battery market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from solar batterymarket market are anticipated to lucrative growth opportunities in the future with the rising demand for solar battery market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Solar battery market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Bosch Solar Energy
- East Penn Manufacturing
- Exide Technologies
- First Solar, Inc.
- Fusion Power Systems
- GS Yuasa
- LG Chem.
- Samsung SDI
- Schneider Electric
- SMA Solar Technology AG.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Solar Battery Market - By Technology
1.3.2 Solar Battery Market - By End-User
1.3.3 Solar Battery Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SOLAR BATTERY MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. SOLAR BATTERY MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. SOLAR BATTERY MARKET - GLOBAL MARKET ANALYSIS
6.1. SOLAR BATTERY - GLOBAL MARKET OVERVIEW
6.2. SOLAR BATTERY - GLOBAL MARKET AND FORECAST TO 2027
6.3. MARKET POSITIONING/MARKET SHARE
7. SOLAR BATTERY MARKET - REVENUE AND FORECASTS TO 2027 - TECHNOLOGY
7.1. OVERVIEW
7.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
7.3. LEAD ACID BATTERIES
7.3.1. Overview
7.3.2. Lead Acid Batteries Market Forecast and Analysis
7.4. LITHIUM ION BATTERIES
7.4.1. Overview
7.4.2. Lithium Ion Batteries Market Forecast and Analysis
7.5. SODIUM BASED BATTERIES
7.5.1. Overview
7.5.2. Sodium Based Batteries Market Forecast and Analysis
8. SOLAR BATTERY MARKET - REVENUE AND FORECASTS TO 2027 - END-USER
8.1. OVERVIEW
8.2. END-USER MARKET FORECASTS AND ANALYSIS
8.3. RESIDENTIAL
8.3.1. Overview
8.3.2. Residential Market Forecast and Analysis
8.4. INDUSTRIAL
8.4.1. Overview
8.4.2. Industrial Market Forecast and Analysis
8.5. COMMERCIAL
8.5.1. Overview
8.5.2. Commercial Market Forecast and Analysis
9. SOLAR BATTERY MARKET REVENUE AND FORECASTS TO 2027 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Solar Battery Market Overview
9.1.2 North America Solar Battery Market Forecasts and Analysis
9.1.3 North America Solar Battery Market Forecasts and Analysis - By Technology
9.1.4 North America Solar Battery Market Forecasts and Analysis - By End-User
9.1.5 North America Solar Battery Market Forecasts and Analysis - By Countries
9.1.5.1 United States Solar Battery Market
9.1.5.1.1 United States Solar Battery Market by Technology
9.1.5.1.2 United States Solar Battery Market by End-User
9.1.5.2 Canada Solar Battery Market
9.1.5.2.1 Canada Solar Battery Market by Technology
9.1.5.2.2 Canada Solar Battery Market by End-User
9.1.5.3 Mexico Solar Battery Market
9.1.5.3.1 Mexico Solar Battery Market by Technology
9.1.5.3.2 Mexico Solar Battery Market by End-User
9.2. EUROPE
9.2.1 Europe Solar Battery Market Overview
9.2.2 Europe Solar Battery Market Forecasts and Analysis
9.2.3 Europe Solar Battery Market Forecasts and Analysis - By Technology
9.2.4 Europe Solar Battery Market Forecasts and Analysis - By End-User
9.2.5 Europe Solar Battery Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Solar Battery Market
9.2.5.1.1 Germany Solar Battery Market by Technology
9.2.5.1.2 Germany Solar Battery Market by End-User
9.2.5.2 France Solar Battery Market
9.2.5.2.1 France Solar Battery Market by Technology
9.2.5.2.2 France Solar Battery Market by End-User
9.2.5.3 Italy Solar Battery Market
9.2.5.3.1 Italy Solar Battery Market by Technology
9.2.5.3.2 Italy Solar Battery Market by End-User
9.2.5.4 United Kingdom Solar Battery Market
9.2.5.4.1 United Kingdom Solar Battery Market by Technology
9.2.5.4.2 United Kingdom Solar Battery Market by End-User
9.2.5.5 Russia Solar Battery Market
9.2.5.5.1 Russia Solar Battery Market by Technology
9.2.5.5.2 Russia Solar Battery Market by End-User
9.2.5.6 Rest of Europe Solar Battery Market
9.2.5.6.1 Rest of Europe Solar Battery Market by Technology
9.2.5.6.2 Rest of Europe Solar Battery Market by End-User
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Solar Battery Market Overview
9.3.2 Asia-Pacific Solar Battery Market Forecasts and Analysis
9.3.3 Asia-Pacific Solar Battery Market Forecasts and Analysis - By Technology
9.3.4 Asia-Pacific Solar Battery Market Forecasts and Analysis - By End-User
9.3.5 Asia-Pacific Solar Battery Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Solar Battery Market
9.3.5.1.1 Australia Solar Battery Market by Technology
9.3.5.1.2 Australia Solar Battery Market by End-User
9.3.5.2 China Solar Battery Market
9.3.5.2.1 China Solar Battery Market by Technology
9.3.5.2.2 China Solar Battery Market by End-User
9.3.5.3 India Solar Battery Market
9.3.5.3.1 India Solar Battery Market by Technology
9.3.5.3.2 India Solar Battery Market by End-User
9.3.5.4 Japan Solar Battery Market
9.3.5.4.1 Japan Solar Battery Market by Technology
9.3.5.4.2 Japan Solar Battery Market by End-User
9.3.5.5 South Korea Solar Battery Market
9.3.5.5.1 South Korea Solar Battery Market by Technology
9.3.5.5.2 South Korea Solar Battery Market by End-User
9.3.5.6 Rest of Asia-Pacific Solar Battery Market
9.3.5.6.1 Rest of Asia-Pacific Solar Battery Market by Technology
9.3.5.6.2 Rest of Asia-Pacific Solar Battery Market by End-User
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Solar Battery Market Overview
9.4.2 Middle East and Africa Solar Battery Market Forecasts and Analysis
9.4.3 Middle East and Africa Solar Battery Market Forecasts and Analysis - By Technology
9.4.4 Middle East and Africa Solar Battery Market Forecasts and Analysis - By End-User
9.4.5 Middle East and Africa Solar Battery Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Solar Battery Market
9.4.5.1.1 South Africa Solar Battery Market by Technology
9.4.5.1.2 South Africa Solar Battery Market by End-User
9.4.5.2 Saudi Arabia Solar Battery Market
9.4.5.2.1 Saudi Arabia Solar Battery Market by Technology
9.4.5.2.2 Saudi Arabia Solar Battery Market by End-User
9.4.5.3 U.A.E Solar Battery Market
9.4.5.3.1 U.A.E Solar Battery Market by Technology
9.4.5.3.2 U.A.E Solar Battery Market by End-User
9.4.5.4 Rest of Middle East and Africa Solar Battery Market
9.4.5.4.1 Rest of Middle East and Africa Solar Battery Market by Technology
9.4.5.4.2 Rest of Middle East and Africa Solar Battery Market by End-User
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Solar Battery Market Overview
9.5.2 South and Central America Solar Battery Market Forecasts and Analysis
9.5.3 South and Central America Solar Battery Market Forecasts and Analysis - By Technology
9.5.4 South and Central America Solar Battery Market Forecasts and Analysis - By End-User
9.5.5 South and Central America Solar Battery Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Solar Battery Market
9.5.5.1.1 Brazil Solar Battery Market by Technology
9.5.5.1.2 Brazil Solar Battery Market by End-User
9.5.5.2 Argentina Solar Battery Market
9.5.5.2.1 Argentina Solar Battery Market by Technology
9.5.5.2.2 Argentina Solar Battery Market by End-User
9.5.5.3 Rest of South and Central America Solar Battery Market
9.5.5.3.1 Rest of South and Central America Solar Battery Market by Technology
9.5.5.3.2 Rest of South and Central America Solar Battery Market by End-User
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. SOLAR BATTERY MARKET, KEY COMPANY PROFILES
11.1. BOSCH SOLAR ENERGY
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. EAST PENN MANUFACTURING
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. EXIDE TECHNOLOGIES
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. FIRST SOLAR, INC.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. FUSION POWER SYSTEMS
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. GS YUASA
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. LG CHEM
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SAMSUNG SDI
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SCHNEIDER ELECTRIC
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. SMA SOLAR TECHNOLOGY AG
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1.Bosch Solar Energy
2.East Penn Manufacturing
3.Exide Technologies
4.First Solar, Inc.
5.Fusion Power Systems
6.GS Yuasa
7.LG Chem
8.Samsung SDI
9.Schneider Electric
10.SMA Solar Technology AG
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone 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: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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