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Solar Energy and Battery Storage Market Size, Share, Growth, Top Manufacturers and Forecasts to 2023

Market Overview:-
The global solar energy and battery storage system market has been segmented based on battery type, solar technology, connection type, application, end-user, and region. Based on battery type, the market is segmented into lead-acid, lithium ion (Li-ion), sodium sulfur, and others. Li-ion dominated the battery type segment of the market. Li-ion batteries are highly efficient and provide an improved energy to density ratio, due to which there will be a high demand for Li-ion batteries to overcome power interruptions. This, in turn, will drive the growth of this market segment during the forecast period.
Presently, zero energy building is one of the latest trends gaining traction in the solar energy and battery storage market. These buildings make use of natural lighting to reduce power consumption and are economically viable. For instance, a store in Peterborough Screwfix is the first zero energy store in the area. The store is Kingfisher owned and uses a mix of solar panels, solar battery storage, and an air source heat pump.
 
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Industry Top Key Players:-

ABB Ltd.
LG Chem, Ltd. 
Samsung SDI Co., Ltd
General Electric Company
Tesla, Inc. 
AEG Power Solutions
eSolar Inc. 
Abengoa S.A. 
BrightSource Energy, Inc.

Scope of the Report:-
The scope of the study segments the solar energy and battery storage system market by its battery type, solar technology, connection type, application, end-user and region.
By Battery Type

Lead-acid
Lithium ion
Sodium sulfur
Others

By Solar technology

Solar Photovoltaic (PV)
Concentrated Solar Power (CSP)
By Connection Type
On-Grid
Off-Grid

By Application

Load leveling
Peak shaving
Power demand
Others

By End-User

Utility
Industrial & Commercial
Residential

By Regions

North America 
Asia Pacific 
 Europe
Rest of the World  

 
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Regional Analysis:-
Asia Pacific region is expected to grow at the highest CAGR during the forecast period. Rising environmental concerns and growing energy demand are the two crucial parameters that will drive the growth of the market in the APAC region. In the region, Japan is contributing hugely to the solar energy battery storage system market. The government of Japan is targeting to make the local companies capable of holding ~50% share of the world’s battery storage market by 2020. Some of the major battery manufacturers providing batteries for the solar energy storage system are Hitachi, Mitsubishi, NEC, Panasonic, and Toshiba for lithium ion; GS Yuasa and Shin-Kobe Electric Machinery for lead-acid batteries; NGK Insulators for sodium sulfur batteries; and Sumitomo Electric for redox flow batteries. North America is another major market for global solar energy and battery storage system. This is mainly attributed to the growing investments in smart solar power plants and the growth in solar capacity and installations in the region. The U.S. is a major revenue generator for global as well as North America solar energy and battery storage system market, owing to the increasing support of the U.S. government towards the installation of smart solar projects.
 
Major Points of TOC:-
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
 
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
 
To be continued...