Residential Energy Storage Market By Connectivity Type (On-Grid, Off-Grid), By Technology Type (Lithium Ion, Lead Acid), By Operation Type (Standalone Systems, Solar and Storage Systems) - Growth, Share, Opportunities & Competitive Analysis, 2019 -2027

Key Market Insights 

“Growing government regulatory support and financial initiatives will boost the market” 

The global residential energy storage market is growing competently, expected to grow at a CAGR of 16.0% during the estimated period from 2019 to 2027, starting from US$ 5.99 Bn in 2018. 

The growth of residential battery storage in the power sector has engrossed attention for a wide-scale application in the residential and commercial sectors. Most of the attention is focused towards utility-scale batteries and for commercial and industrial customers. In addition, the large batteries are precarious segments for the energy-storage market, along with the swift growth of residential energy storage and household systems will expand the battery market on a global scale. Furthermore, government initiatives and action towards grid reliability and resilience, administer the demand-response program, declining cost of batteries, and need of self-sufficient energy from consumers projected to drive the demand for residential energy storage market over the forecast period. 

The global market for residential energy storage is poised to grow promptly, owing to improved performance and reduced cost of batteries, embarking of grid modernizations, extensive support towards renewables and emissions reduction. According to broadly publicized forecast, the storage market for residential batteries could reach around US $26 billion by 2025. Grid digitization, predictive maintenance, and use of 3 intelligent system configuration is paving ways and creating opportunities for batteries for an improved power quality on a global scale. 

Market Synopsis

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Technology Analysis

“Declining cost of batteries and increasing trend towards new storage technology to boost the market globally” 

Residential energy storage is growing rapidly, owing to new deployment incentives, falling costs and adoption of short-term energy storage technology are fuelling a recorded investments towards energy storage. Rising uptake and increasing growth of renewable energy will drives down the cost through innovation and scale, thereby driving the growth of residential energy storage globally. According to International Energy Agency (IEA) shows in 2019, the lithium-ion batteries dominates the storage technologies among other renewable like pumped hydro. 

Low-cost energy storage through increased competition and economy of scale has dropped the costs of energy storage systems globally. Growing demand for electric vehicles, consumer electronics, and government-supported low-cost financing for renewables will spur investments in battery pack manufacturing, thereby expanding the market for battery storage over the forecasted period. The upcoming latest technology like “vanadium redox/flow battery” projected to grab the market especially because their fully containerized, reduced cost, compact, reusable over semi-infinite cycles, nonflammable, do not degrade for more than 20 years, and 100% discharge of stored energy than other V-flow batteries. 

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Regional Analysis 

“Europe to hold a dominance in residential energy storage market due to government initiatives and policy framework towards energy storage” 

The ongoing dual-price method, increasing cash-out incentives and prices for flexible capacity investments, is potentially expanding the demand for the use of energy storage technologies. Government plays a vital role in steering the transition to clean energy solutions by forming the necessary market regulations, policy framework, financial incentives for private sector, and direct investment on clean energy projects. Furthermore, as a part of green energy initiatives the European Investment Bank Group (EIB) cover equity-type funding, loans, and guarantees to demonstrate the “InnovFin Energy” projects by providing loans, and equity-type financing for energy storage. In addition, in 2017 the transformation of energy mix in Germany have accounted rooftop solar for around 74% of the total solar energy across the country, largely due to advanced supporting mechanisms like grants and loans for roof-top programs.

Moreover, the government of the UK is promoting the adoption of energy storage batteries to meet carbon emission control on a global scale. In 2017, the government of the UK agreed to decrease tax by 5% for the installation of a solar-powered battery system. The aforementioned factors are expected to boost the demand for residential energy storage market over the forecast period.

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List of Companies Covered:

• ABB Ltd.
• Samsung SDI Co Ltd
• Tesla Inc
• BYD Co Ltd
• Eguana Technologies Inc
• Schneider Electric SE
• Siemens AG
• Huawei Technologies
• Eaton
• LG Chem Ltd
• Tabuchi Electric Co Ltd
• SMA Solar Technology AG 

Key Industry Development: 

• In December 2019, Tesla Motors developed a new home energy storage battery system named “Powerwall” in the global market 
• In June 2018, the Samsung SDI unveiled its new residential energy storage system (ESS) at Intersolar Europe Energy Expo-2018 in Munich 
• In March 2018, Samsung SDI showcased its new energy storage system (ESS) products like high-power ESS, ESS cells, residential ESS, and high-capacity ESS at the Energy Storage Europe-2018 
• In September 2019, ABB launches its first residential energy storage system (ESS) at Solar Power International (SPI) conference in Salt Lake City, U.S. 

Historical & Forecast Period 

This study report represents analysis for each segment from 2017 to 2027 considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027. 

Market Segmentation

The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that give a better market understanding of the overall residential energy storage market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.

Key questions answered in this report

• What are the current market trends and dynamics in the residential energy storage market and valuable opportunities for emerging players?
• Which segment accounts for the fastest CAGR during the forecast period?
• Which repair type segment holds a larger market share and why?
• Are low and middle-income economies investing in the residential energy storage market?
• What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation

2. Executive Summary
2.1. Market Snapshot: Global Residential Energy Storage (RES) Market
2.2. Global RES Market, by Connectivity Type, 2018 (US$ Bn)
2.3. Global RES Market, by Technology Type, 2018 (US$ Bn)
2.4. Global RES Market, by Operation Type, 2018 (US$ Bn)
2.5. Global RES Market, by Geography, 2018 (US$ Bn)

3. Market Dynamics
3.1. Introduction
3.1.1. Global RES Market Value, 2017-2027, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players

4. Global Residential Energy Storage (RES) Market, by Connectivity Type , 2017-2027 (US$ Bn)
4.1. Overview
4.2. On-Grid
4.3. Off-Grid

5. Global Residential Energy Storage (RES) Market, by Technology Type, 2017-2027 (US$ Bn)
5.1. Overview
5.2. Lithium Ion
5.3. Lead Acid

6. Global Residential Energy Storage (RES) Market, by Operation Type, 2017-2027 (US$ Bn)
6.1. Overview
6.2. Standalone Systems
6.3. Solar and Storage Systems

7. North America Residential Energy Storage (RES) Market Analysis, 2017-2027 (US$ Bn)
7.1. Overview
7.1.1. North America RES Market Value and Growth, 2017-2027, (US$ Bn)
7.2. North America RES Market Value, By Connectivity Type, 2017-2027 (US$ Bn)
7.2.1. Market Analysis
7.3. North America RES Market Value, By Technology Type, 2017-2027 (US$ Bn)
7.3.1. Market Analysis
7.4. North America RES Market Value, By Operation Type, 2017-2027 (US$ Bn)
7.4.1. Market Analysis
7.5. North America RES Market Value, By Region/Country, 2017-2027 (US$ Bn)
7.5.1. Market Analysis
7.5.2. U.S.
7.5.3. Rest of North America

8. Europe Residential Energy Storage (RES) Market Analysis, 2017-2027 (US$ Bn)
8.1. Overview
8.1.1. Europe RES Market Value and Growth, 2017-2027, (US$ Bn)
8.2. Europe RES Market Value, By Connectivity Type, 2017-2027 (US$ Bn)
8.2.1. Market Analysis
8.3. Europe RES Market Value, By Technology Type, 2017-2027 (US$ Bn)
8.3.1. Market Analysis
8.4. Europe RES Market Value, By Operation Type, 2017-2027 (US$ Bn)
8.4.1. Market Analysis
8.5. Europe RES Market Value, By Region/Country, 2017-2027 (US$ Bn)
8.5.1. Market Analysis
8.5.2. U.K.
8.5.3. Germany
8.5.4. France
8.5.5. Rest of Europe

9. Asia Pacific Residential Energy Storage (RES) Market Analysis, 2017-2027 (US$ Bn)
9.1. Overview
9.1.1. Asia Pacific RES Market Value and Growth, 2017-2027, (US$ Bn)
9.2. Asia Pacific RES Market Value, By Connectivity Type, 2017-2027 (US$ Bn)
9.2.1. Market Analysis
9.3. Asia Pacific RES Market Value, By Technology Type, 2017-2027 (US$ Bn)
9.3.1. Market Analysis
9.4. Asia Pacific RES Market Value, By Operation Type, 2017-2027 (US$ Bn)
9.4.1. Market Analysis
9.5. Asia Pacific RES Market Value, By Region/Country, 2017-2027 (US$ Bn)
9.5.1. Market Analysis
9.5.2. Japan
9.5.3. China
9.5.4. India
9.5.5. Rest of Asia Pacific

10. Rest of the World Residential Energy Storage (RES) Market Analysis, 2017-2027 (US$ Bn)
10.1. Overview
10.1.1. Rest of the World RES Market Value and Growth, 2017-2027, (US$ Bn)
10.2. Rest of the World RES Market Value, By Connectivity Type, 2017-2027 (US$ Bn)
10.2.1. Market Analysis
10.3. Rest of the World RES Market Value, By Technology Type, 2017-2027 (US$ Bn)
10.3.1. Market Analysis
10.4. Rest of the World RES Market Value, By Operation Type, 2017-2027 (US$ Bn)
10.4.1. Market Analysis
10.5. Rest of the World RES Market Value, By Region, 2017-2027 (US$ Bn)
10.5.1. Market Analysis
10.5.2. Middle East & Africa
10.5.3. Latin America

11. Company Profiles
11.1. ABB Ltd.
11.2. Samsung SDI Co Ltd
11.3. Tesla Inc
11.4. BYD Co Ltd
11.5. Eguana Technologies Inc
11.6. Schneider Electric SE
11.7. Siemens AG
11.8. Huawei Technologies
11.9. Eaton
11.10. LG Chem Ltd
11.11. Tabuchi Electric Co Ltd
11.12. SMA Solar Technology AG

* Here we use RES as a short form of Residential Energy Storage

FIG. 1 Global Residential Energy Storage (RES) Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global RES Market Segmentation
FIG. 4 Global RES Market, by Connectivity Type, 2018 (US$ Bn)
FIG. 5 Global RES Market, by Technology Type, 2018 (US$ Bn)
FIG. 6 Global RES Market, by Operation Type, 2018 (US$ Bn)
FIG. 7 Global RES Market, by Geography, 2018 (US$ Bn)
FIG. 8 Attractive Investment Proposition, by Geography, 2018
FIG. 9 Global Market Positioning of Key RES Market Manufacturers, 2018
FIG. 10 Global RES Market Value Contribution, By Connectivity Type, 2018 & 2027 (Value %)
FIG. 11 Global RES Market, by On-Grid, Value, 2017–2027 (US$ Bn)
FIG. 12 Global RES Market, by Off-Grid, Value, 2017–2027 (US$ Bn)
FIG. 13 Global RES Market Value Contribution, By Technology Type, 2018 & 2027 (Value %)
FIG. 14 Global RES Market, by Lithium Ion, Value, 2017–2027 (US$ Bn)
FIG. 15 Global RES Market, by Lead Acid, Value, 2017–2027 (US$ Bn)
FIG. 16 Global RES Market Value Contribution, By Operation Type, 2018 & 2027 (Value %)
FIG. 17 Global RES Market, by Standalone Systems, Value, 2017–2027 (US$ Bn)
FIG. 18 Global RES Market, by Solar and Storage Systems, Value, 2017–2027 (US$ Bn)
FIG. 19 U.S. RES Market, 2017–2027 (US$ Bn)
FIG. 20 Rest of North America RES Market, 2017–2027 (US$ Bn)
FIG. 21 U.K. RES Market, 2017–2027 (US$ Bn)
FIG. 22 Germany RES Market, 2017–2027 (US$ Bn)
FIG. 23 France RES Market, 2017–2027 (US$ Bn)
FIG. 24 Rest of Europe RES Market, 2017–2027 (US$ Bn)
FIG. 25 Japan RES Market, 2017–2027 (US$ Bn)
FIG. 26 China RES Market, 2017–2027 (US$ Bn)
FIG. 27 India RES Market, 2017–2027 (US$ Bn)
FIG. 28 Rest of Asia Pacific RES Market, 2017–2027 (US$ Bn)
FIG. 29 Middle East & Africa RES Market, 2017–2027 (US$ Bn)
FIG. 30 Latin America RES Market, 2017–2027 (US$ Bn)

TABLE 1 Market Snapshot: Global Residential Energy Storage (RES) Market
TABLE 2 Global RES Market, by Connectivity Type, 2017–2027 (US$ Bn)
TABLE 3 Global RES Market, by Technology Type, 2017–2027 (US$ Bn)
TABLE 4 Global RES Market, by Operation Type, 2017–2027 (US$ Bn)
TABLE 5 Global RES Market, by Geography, 2017–2027 (US$ Bn)
TABLE 6 North America RES Market, by Connectivity Type, 2017–2027 (US$ Bn)
TABLE 7 North America RES Market, by Technology Type, 2017–2027 (US$ Bn)
TABLE 8 North America RES Market, by Operation Type, 2017–2027 (US$ Bn)
TABLE 9 North America RES Market, by Country, 2017–2027 (US$ Bn)
TABLE 10 Europe RES Market, by Connectivity Type, 2017–2027 (US$ Bn)
TABLE 11 Europe RES Market, by Technology Type, 2017–2027 (US$ Bn)
TABLE 12 Europe RES Market, by Operation Type, 2017–2027 (US$ Bn)
TABLE 13 Europe RES Market, by Country/Region, 2017–2027 (US$ Bn)
TABLE 14 Asia Pacific RES Market, by Connectivity Type, 2017–2027 (US$ Bn)
TABLE 15 Asia Pacific RES Market, by Technology Type, 2017–2027 (US$ Bn)
TABLE 16 Asia Pacific RES Market, by Operation Type, 2017–2027 (US$ Bn)
TABLE 17 Asia Pacific RES Market, by Country/Region, 2017–2027 (US$ Bn)
TABLE 18 RoW RES Market, by Connectivity Type, 2017–2027 (US$ Bn)
TABLE 19 RoW RES Market, by Technology Type, 2017–2027 (US$ Bn)
TABLE 20 RoW RES Market, by Operation Type, 2017–2027 (US$ Bn)
TABLE 21 RoW RES Market, by Country/Region, 2017–2027 (US$ Bn)
TABLE 22 ABB: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 23 Samsung SDI Co., Ltd.: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 24 Tesla: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 25 BDY Company Limited: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 26 Eguana Technologies: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 27 Schneider Electric: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 28 Siemens AG: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 29 Huawei: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 30 Eaton: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 31 LG Chem: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 32 Tabuchi Electric: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 33 SMA Solar Technology: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)