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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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