Solar Battery Market
Solar Battery Market by Product (Lead Acid Batteries, Lithium Ion Batteries, Sodium Based Batteries,) by Application (Residential, Industrial Manufacturing, Others,) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028
The global Solar Battery market was valued at USD 113 Million in 2020 and is projected to reach USD 360 Million by 2028, growing at a CAGR of 15.5% from 2021 to 2028.
|Historical Data (Actual Data)||2016-2020|
|Base Year Data||2020|
|Current Year Date||2021|
|Projected year data||2021-2028|
|Annual Market Size (2028)||360 Million|
|Annual Market Size (2021)|
|CAGR (2021 - 2028)||15.5%|
Definition And Overview
Solar battery is generally used to store solar power and discharge the power as per requirement. It is made of lithium ion or lead acid. Solar battery is rechargeable and can be generally used in solar cell systems to store excess energy.
This report provides an analysis of the Solar Battery market for the historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report covers exhaustive analysis on the global Solar Battery industry, which includes market trends, drivers, restraints, opportunities, segmental analysis, regional trends, and competitive landscape among others. The report provides a detailed study on various product types and their applications in different industry verticals at the global/regional/country level. This study comprises the market size in terms of revenue for each segment at the global/regional/country level along with a detailed analysis of growth prospects, challenges, and opportunities. Moreover, it covers an extensive competitive landscape covering key players in the industry and their comparative study on the basis of different parameters such as company overview, product portfolio, market revenue, business, and marketing strategies.
The report includes a separate section covering detailed Solar Battery industry analysis based on various macro/micro factors impacting the growth of the market. This section explains various driving factors, restraints/challenges, and opportunities in detail. In addition to that, the same section provides industry analysis based on several strategic marketing tools such as Cost Structure Analysis, Porter’s Five Forces Analysis, Pricing Analysis, SWOT Analysis, PESTLE Analysis, Player Positioning Analysis, Downstream Buyers, List of distributors, and Value Chain Analysis among others.
The significant surge in demand for eco-friendly energy solutions is is anticipated to augment the growth of the solar battery market during the forecast period.
The increasing interest of industry players toward renewable energy storage solutions and self-reliance of energy owner is also expected to support the growth of the market in the years to come.
The high initial installation and maintenance cost involved is expected to hamper the growth of the solar battery market over the forecast period.
COVID-19 Impact Analysis
When the Covid19 pandemic started in China last year it sends its shock waves to countries across the globe. And as the number of cases was on the rise, it enforced the governments across the world to take severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the impending catastrophe. These actions had a dramatic impact on the economy, as the industrialist across the globe were forced to halt their production, leading to supply chain disruptions and impairing of various industries. Thus, plummeting the global markets. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.
The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:
o Impact Assessment of COVID-19 Pandemic
o Pre & Post COVID-19 Market Size
o Qualitative analysis on the short term & long-term impact of COVID-19 on the market
o The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.
|Market Size Provided for Years||2016-2028|
|Market Size Provided In Terms Of||Revenue & Volume|
|Segments Covered||Product, Application|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Countries Covered||The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Companies Covered||First Solar, East Penn Manufacturing, FerroAmp, BYD, SAFT, Exide Technologies, Renogy, Samsung SDI, Tesla, FullRiver, Pylontech, Narada, BlueNova, GS Yuasa, A123 Systems|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and Asia Pacific, company market share analysis, and COVID-19 impact analysis|
The report delivers an acute breakdown of the market based on various segments such as Product, Application, , and region. All the segments are studied considering historical and future trends across geographies. All the segments are analyzed based on trends, market size, and forecast, and the data is provided for the years 2016–2028. Several growth factors and opportunities impacting various segments have been incorporated in the report.
On the basis of Product, the market is divided into Lead Acid Batteries, Lithium Ion Batteries, Sodium Based Batteries,. Lead Acid Batteries held the largest share in 2020 and is projected to grow at a noteworthy CAGR within the forecast period.
Based on Application, the market is divided into Residential, Industrial Manufacturing, Others,. Commercial attributed to the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.
Global Solar Battery Market: Product Segment Analysis
- Lead Acid Batteries
- Lithium Ion Batteries
- Sodium Based Batteries
Global Solar Battery Market: Application Segment Analysis
- Industrial Manufacturing
Regional Analysis: Preview
Based on the geography, the global Solar Battery market is segmented into North America, Latin America, Asia
Pacific, Europe, and the Middle East & Africa. The report further segments
the regional study into key country-level markets from each region. This section
of the report provides a comprehensive review of the Solar Battery market at the regional and country level. The report covers all the major developments
specific to Solar Battery industry across
geographies and explains its impact on the market. The regional analysis
section also provides analysis of the impact of various factors such as
economies, industry competition, technological advancements, import-export
ratio, and raw material availability among others. The concentration of raw
material suppliers as well as market players in one specific region impacts the
global market scenario and the report covers exclusive information on the
same. Also, the report analyzes the
intensity of competition in each region and its influence on the growth of the
global Solar Battery market.
Market Size, 2021 (USD Billion)
Global Solar Battery Market: Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
The global Solar Battery market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Solar Battery market are First Solar, East Penn Manufacturing, FerroAmp, BYD, SAFT, Exide Technologies, Renogy, Samsung SDI, Tesla, FullRiver, Pylontech, Narada, BlueNova, GS Yuasa, A123 Systems. This section of the report will provide you extensive information on all key players based on business overview, product portfolio, marketing strategies, recent developments, financial performance, and geographical presence among others. Moreover, the report will also include extensive analysis on key strategies adopted by market players such as new product development/launch, merger & acquisitions, partnerships, collaborations & joint ventures, research & development, and regional expansion.
Frequently Asked Questions
the global demand for Solar Battery
in terms of revenue?
The global Solar Battery valued at 113 Million in 2020 and is expected to reach 360 Million in 2028 growing at a CAGR of 15.5%
are the prominent players
in the market?
The prominent players in the market are First Solar, East Penn Manufacturing, FerroAmp, BYD, SAFT, Exide Technologies, Renogy, Samsung SDI, Tesla, FullRiver, Pylontech, Narada, BlueNova, GS Yuasa, A123 Systems.
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 15.5% between 2021 and 2028.
the driving factors
fueling the growth of the market.
The driving factors of the Solar Battery include
- The significant surge in demand for eco-friendly energy solutions is is anticipated to augment the growth of the solar battery market during the forecast period.
- The increasing interest of industry players toward renewable energy storage solutions and self-reliance of energy owner is also expected to support the growth of the market in the years to come.
region accounted for the
largest share in the market?
Asia Pacific was the leading regional segment of the Solar Battery in 2020.