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Residential Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global residential battery market size reached US$ 10.48 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 24.76 Billion by 2027, exhibiting a growth rate (CAGR) of 14.20% during 2022-2027.

A residential battery refers to an in-home energy unit used to store the energy supplied from the power grid or generated from renewable energy sources like solar and wind. They are mainly made up of lithium-ion (Li-ion) or lead-acid composition to effectively handle charging and discharging cycles. They comprise an anode, electrolyte, separator, and cathode. Residential batteries are deployed in smart meters and are extremely useful in remote areas deprived of a stable grid connection. They are durable, cost-effective, safe, lightweight, stable, and have a low charging time. Besides this, residential batteries help reduce carbon footprint, save electricity costs, maximize power consumption, and keep the home's electricity resilient.

Residential Battery Market Trends:

The significant growth of solar power generation across the globe is creating a positive outlook for the market. In line with this, the increasing inclination toward deploying solar panels in houses and commercial spaces due to their cost-effectiveness is favoring the market growth. Moreover, the widespread adoption of li-ion batteries over lead-acid batteries to maintain voltage throughout the discharge cycle and allow greater and longer-lasting efficiency of electrical components is acting as another growth-inducing factor. Apart from this, the introduction of smart residential batteries that can be integrated with smartphones, assisting in managing and monitoring the equipment according to the preferences of consumers, is providing an impetus to the market growth. Additionally, the development of residential batteries made with enhanced battery materials and reduced non-active materials that offer improved battery performance, cell design, and production yield are propelling the market growth. Other factors, including rising expenditure capacities of consumers, extensive research and development (R&D) activities, and increasing demand for backup power, are anticipated to drive the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global residential battery market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, power rating and operation.

Breakup by Type:

  • Lithium-ion Battery
  • Lead-acid Battery
  • Others
     

Breakup by Power Rating:

  • 3-6 kW
  • 6-10 kW
  • More than 10 kW
     

Breakup by Operation:

  • Standalone
  • Solar
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Amara Raja Batteries Limited, Delta Electronics Inc., Eaton Corporation plc, Energizer Holdings Inc., FIMER S.p.A., LG Energy Solution Ltd., Luminous Power Technologies Pvt. Ltd. (Schneider Electric SE), Panasonic Corporation, Samsung SDI Co. Ltd., SMA Solar Technology AG and Tesla Inc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Type, Power Rating, Operation, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Amara Raja Batteries Limited, Delta Electronics Inc., Eaton Corporation plc, Energizer Holdings Inc., FIMER S.p.A., LG Energy Solution Ltd., Luminous Power Technologies Pvt. Ltd. (Schneider Electric SE), Panasonic Corporation, Samsung SDI Co. Ltd., SMA Solar Technology AG and Tesla Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Key Questions Answered in This Report:

  • How has the global residential battery market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global residential battery market?
  • What are the key regional markets?
  • What is the breakup of the market based on the type?
  • What is the breakup of the market based on the power rating?
  • What is the breakup of the market based on the operation?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global residential battery market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Residential Battery Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Type
    6.1    Lithium-ion Battery
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Lead-acid Battery
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Others
        6.3.1 Market Trends
        6.3.2 Market Forecast
7    Market Breakup by Power Rating
    7.1    3-6 kW
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    6-10 kW
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    More than 10 kW
        7.3.1 Market Trends
        7.3.2 Market Forecast
8    Market Breakup by Operation
    8.1    Standalone
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Solar
        8.2.1 Market Trends
        8.2.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia-Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis

    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape

    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Amara Raja Batteries Limited
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
           14.3.1.3 Financials
        14.3.2    Delta Electronics Inc.
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
           14.3.2.3 Financials
           14.3.2.4 SWOT Analysis
        14.3.3    Eaton Corporation plc
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
           14.3.3.3 Financials
           14.3.3.4 SWOT Analysis
        14.3.4    Energizer Holdings Inc.
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio
           14.3.4.3 Financials
           14.3.4.4 SWOT Analysis
        14.3.5    FIMER S.p.A.
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
        14.3.6    LG Energy Solution Ltd.
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
           14.3.6.3 Financials
        14.3.7    Luminous Power Technologies Pvt. Ltd. (Schneider Electric SE)
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
        14.3.8    Panasonic Corporation
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
           14.3.8.3 Financials
           14.3.8.4 SWOT Analysis
        14.3.9    Samsung SDI Co. Ltd.
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
           14.3.9.3 Financials
           14.3.9.4 SWOT Analysis
        14.3.10    SMA Solar Technology AG
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio
           14.3.10.3 Financials
           14.3.10.4 SWOT Analysis
        14.3.11    Tesla Inc.
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio
           14.3.11.3 Financials
           14.3.11.4 SWOT Analysis

List of Figures

Figure 1: Global: Residential Battery Market: Major Drivers and Challenges
Figure 2: Global: Residential Battery Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Residential Battery Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Residential Battery Market: Breakup by Type (in %), 2021
Figure 5: Global: Residential Battery Market: Breakup by Power Rating (in %), 2021
Figure 6: Global: Residential Battery Market: Breakup by Operation (in %), 2021
Figure 7: Global: Residential Battery Market: Breakup by Region (in %), 2021
Figure 8: Global: Residential Battery (Lithium-ion Battery) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Residential Battery (Lithium-ion Battery) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Residential Battery (Lead-acid Battery) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Residential Battery (Lead-acid Battery) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Residential Battery (Other Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Residential Battery (Other Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Residential Battery (3-6 kW) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Residential Battery (3-6 kW) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Residential Battery (6-10 kW) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Residential Battery (6-10 kW) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Residential Battery (More than 10 kW) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Residential Battery (More than 10 kW) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Residential Battery (Standalone) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Residential Battery (Standalone) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Residential Battery (Solar) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Residential Battery (Solar) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: North America: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: North America: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: United States: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: United States: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Canada: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Canada: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Asia-Pacific: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Asia-Pacific: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: China: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: China: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Japan: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Japan: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: India: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: India: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: South Korea: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: South Korea: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Australia: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Australia: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Indonesia: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Indonesia: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Others: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Others: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Europe: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Europe: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Germany: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Germany: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: France: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: France: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: United Kingdom: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: United Kingdom: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Italy: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Italy: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Spain: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Spain: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Russia: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Russia: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Others: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Others: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Latin America: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Latin America: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Brazil: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Brazil: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Mexico: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Mexico: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Others: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Others: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Middle East and Africa: Residential Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Middle East and Africa: Residential Battery Market: Breakup by Country (in %), 2021
Figure 72: Middle East and Africa: Residential Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Global: Residential Battery Industry: SWOT Analysis
Figure 74: Global: Residential Battery Industry: Value Chain Analysis
Figure 75: Global: Residential Battery Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Residential Battery Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Residential Battery Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: Global: Residential Battery Market Forecast: Breakup by Power Rating (in Million US$), 2022-2027
Table 4: Global: Residential Battery Market Forecast: Breakup by Operation (in Million US$), 2022-2027
Table 5: Global: Residential Battery Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Residential Battery Market: Competitive Structure
Table 7: Global: Residential Battery Market: Key Players


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