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

Market Overview:

The global solar battery market reached a value of US$ 156.14 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 358.15 Million by 2027, exhibiting a CAGR of 14.10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

A solar photovoltaic (PV) system is utilized for ensuring a continuous power supply and reducing carbon footprint. It consists of one or more solar panels, electrical and mechanical hardware and an inverter that aids in storing electrical energy in solar batteries. Solar batteries are subjected to frequent charging as well as discharging processes and help provide energy to electrical loads at a stable voltage by suppressing voltage fluctuations in a solar PV system.

 

 
 

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Solar Battery Market Trends:

At present, there is a considerable increase in the utilization of eco-friendly and cost-effective energy solutions around the world on account of stringent regulations imposed by governments of several countries to minimize reliance on exhaustible resources. This represents one of the key factors bolstering the growth of the market. Moreover, solar PV systems find extensive applications in grid systems, which are attached to the local utility grid, to cater to the continuous energy requirements of the global population. They are also used in solar streetlights for providing reliable power to ensure quick payback on large capital projects, which, in turn, is strengthening the market growth. In addition, solar PV systems are utilized in smart grids to offer critical energy back to the grid during peak hours. This, along with the thriving energy sector, is fueling the market growth. Besides this, the adoption of these systems in the residential and commercial sectors is increasing the self-reliance of owners and significantly reducing the monthly electricity bill, which is impelling the market growth. Apart from this, the growing prominence of energy trading using blockchain and artificial intelligence (AI) technologies is projected to offer lucrative growth opportunities to leading players.

Key Market Segmentation:

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

Breakup by Type:

  • Lead Acid
  • Lithium Ion
  • Flow Battery
  • Others
     

Breakup by Capacity:

 

 
 

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  • Below 75 AH
  • 75 To 150 AH
  • Above 150 AH
     

Breakup by End User:

  • Industrial
  • Commercial
  • Residential
     

Breakup by Region:

 

 
 

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  • 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 BAE Batterien GmbH, BYD Co. Ltd., Contemporary Amperex Technology Co. Ltd., EnerSys, Exide Industries Limited, LG Electronics Inc. (LG Corporation), Loom Solar Pvt. Ltd., Luminous Power Technologies Private Limited (Schneider Electric SE), Okaya Power Pvt. Ltd., Panasonic Corporation, SAFT (TotalEnergies SE), Samsung SDI Co. Ltd and Tesla Inc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Million
Segment Coverage Type, Capacity, End User, 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 BAE Batterien GmbH, BYD Co. Ltd., Contemporary Amperex Technology Co. Ltd., EnerSys, Exide Industries Limited, LG Electronics Inc. (LG Corporation), Loom Solar Pvt. Ltd., Luminous Power Technologies Private Limited (Schneider Electric SE), Okaya Power Pvt. Ltd., Panasonic Corporation, SAFT (TotalEnergies SE), Samsung SDI Co. Ltd 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)

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 Solar 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    Lead Acid
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Lithium Ion
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Flow Battery
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Others
        6.4.1 Market Trends
        6.4.2 Market Forecast
7    Market Breakup by Capacity
    7.1    Below 75 AH
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    75 To 150 AH
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Above 150 AH
        7.3.1 Market Trends
        7.3.2 Market Forecast
8    Market Breakup by End User
    8.1    Industrial
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Commercial
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Residential
        8.3.1 Market Trends
        8.3.2 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    BAE Batterien GmbH
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
        14.3.2    BYD Co. Ltd.
           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    Contemporary Amperex Technology Co. Ltd.
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
           14.3.3.3 Financials
        14.3.4    EnerSys
           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    Exide Industries Limited
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
        14.3.6    LG Electronics Inc. (LG Corporation)
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
           14.3.6.3 Financials
           14.3.6.4 SWOT Analysis
        14.3.7    Loom Solar Pvt. Ltd.
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
        14.3.8    Luminous Power Technologies Private Limited (Schneider Electric SE)
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
        14.3.9    Okaya Power Pvt. Ltd.
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
        14.3.10    Panasonic Corporation
           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    SAFT (TotalEnergies SE)
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio
        14.3.12    Samsung SDI Co. Ltd
           14.3.12.1 Company Overview
           14.3.12.2 Product Portfolio
        14.3.13    Tesla Inc.
           14.3.13.1 Company Overview
           14.3.13.2 Product Portfolio
           14.3.13.3 Financials
           14.3.13.4 SWOT Analysis

List of Figures

Figure 1: Global: Solar Battery Market: Major Drivers and Challenges
Figure 2: Global: Solar Battery Market: Sales Value (in Million US$), 2016-2021
Figure 3: Global: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 4: Global: Solar Battery Market: Breakup by Type (in %), 2021
Figure 5: Global: Solar Battery Market: Breakup by Capacity (in %), 2021
Figure 6: Global: Solar Battery Market: Breakup by End User (in %), 2021
Figure 7: Global: Solar Battery Market: Breakup by Region (in %), 2021
Figure 8: Global: Solar Battery (Lead Acid) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Solar Battery (Lead Acid) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Solar Battery (Lithium Ion) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Solar Battery (Lithium Ion) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Solar Battery (Flow Battery) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Solar Battery (Flow Battery) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Solar Battery (Other Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Solar Battery (Other Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Solar Battery (Below 75 AH) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Solar Battery (Below 75 AH) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Solar Battery (75 To 150 AH) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Solar Battery (75 To 150 AH) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Solar Battery (Above 150 AH) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Solar Battery (Above 150 AH) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Solar Battery (Industrial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Solar Battery (Industrial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Solar Battery (Commercial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Solar Battery (Commercial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Solar Battery (Residential) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Solar Battery (Residential) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: North America: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: North America: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: United States: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: United States: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Canada: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Canada: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Asia-Pacific: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Asia-Pacific: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: China: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: China: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Japan: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Japan: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: India: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: India: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: South Korea: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: South Korea: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Australia: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Australia: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Indonesia: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Indonesia: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Others: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Others: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Europe: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Europe: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Germany: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Germany: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: France: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: France: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: United Kingdom: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: United Kingdom: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Italy: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Italy: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Spain: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Spain: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Russia: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Russia: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Others: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Others: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Latin America: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Latin America: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Brazil: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Brazil: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Mexico: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Mexico: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Others: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Others: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Middle East and Africa: Solar Battery Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Middle East and Africa: Solar Battery Market: Breakup by Country (in %), 2021
Figure 76: Middle East and Africa: Solar Battery Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Global: Solar Battery Industry: SWOT Analysis
Figure 78: Global: Solar Battery Industry: Value Chain Analysis
Figure 79: Global: Solar Battery Industry: Porter's Five Forces Analysis

List of Tables

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

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Key Questions Answered in This Report

The global solar battery market was valued at US$ 156.14 Million in 2021.

We expect the global solar battery market to exhibit a CAGR of 14.10% during 2022-2027.

The extensive utilization of solar battery as eco-friendly energy solution to control carbon emissions
and conserve renewable resources, is primarily driving the global solar battery market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent
lockdown regulations across several nations resulting in temporary closure of numerous
manufacturing units for solar batteries.

Based on the type, the global solar battery market has been categorized into lead acid, lithium ion,
flow battery, and others. Among these, lithium ion type holds the largest market share.

Based on the end user, the global solar battery market can be bifurcated into industrial, commercial,
and residential. Currently, the industrial sector accounts for the majority of the total market share.

On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle
East and Africa, and Latin America, where Asia-Pacific currently dominates the global market.

Some of the major players in the global solar battery market include BAE Batterien GmbH, BYD Co.
Ltd., Contemporary Amperex Technology Co. Ltd., EnerSys, Exide Industries Limited, LG Electronics
Inc. (LG Corporation), Loom Solar Pvt. Ltd., Luminous Power Technologies Private Limited (Schneider
Electric SE), Okaya Power Pvt. Ltd., Panasonic Corporation, SAFT (TotalEnergies SE), Samsung SDI Co.
Ltd, and Tesla Inc.

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