Solar Energy Storage Market – Global Opportunities & Forecast, 2020-2027

 

The market report studies the impact of COVID-19 on the market while covering many aspects of the industry such as market size, market status, emerging trends, and forecast. The report also offers a brief information of the competitors and the specific growth opportunities, along with key market drivers.

Major Players In Solar Energy Storage Market:

The leading players in the Solar Energy Storage Market:

·         BYD Company Limited

·         Carnegie Clean Energy Ltd.

·         Maxwell Technologies, Inc.

·         Samsung SDI Co., Ltd.

·         EnerSys

·         BAE Batterien GmbH

·         Saft Batteries

·         Vionx Energy Corporation

·         FIAMM Energy Technology Ss.p.A.

·         Adara Power

·         Tata Power Solar Systems Ltd.

Key Drivers Of Solar Energy Storage Market:

The factors contributing to the growth of the global solar energy storage market include the rising environmental concern, coupled with strict regulations to decrease emissions through the conjunction of effective energy conservation measures. Furthermore, up-gradation and several advancements are being done in various industries to build a cost-competitive business scenario. Majority of the solar projects have succeeded over the past decade, which is impacting various industries. The rising usage of electric vehicles to decrease transportation costs and reduce carbon emission has prompted many companies to install a solar integrated EV charging station. These factors are projected to surge the growth of the global solar energy storage market.

The accelerated adoption of solar energy to eliminate the usage of fossils fuels is fuelling market growth. There has been an upsurge in concern associated with the changing environmental conditions due to the depletion of major natural resources used to generate power. This factor has encouraged government agencies and large businesses to opt for different renewable power sources, thus energizing the market’s demand.

Based on the region, Asia-Pacific is anticipated to grow at a higher CAGR during the forecast period due to various countries that have aimed to decrease emissions and have linked these aspirations to partial decarbonization. The growth of solar energy storage in APAC countries is favored by regulatory policies and existing fiscal incentives nationwide. Additionally, prompting medium to long-term policies for supporting renewable growth in the overall energy portfolio by different countries is one of the factors bolstering the growth of the solar energy storage market in Asia-Pacific.

 

Solar Energy Storage Market Segmentation:

The solar energy storage market has been segmented into the following categories:

Solar Energy Storage Market by Composition:

·         Lead Acid

·         Lithium Ion

·         Flow Battery

·         Others

Solar Energy Storage Market by Capacity:

·         Up to 50 KW

·         51 KW to 250 KW

·         251 KW to 500 KW

·         501 KW to 1000 KW

·         1001 KW to 2500 KW

·         2501 KW to 5000 KW

·         5001 KW to 10000 KW

·         > 10000 KW

Solar Energy Storage Market by Installation:

·         On-Grid

·         Off-Grid 

Solar Energy Storage Market by Region:

·         North America

o   United States of America

o   Canada

·         Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·         Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·         RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

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