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Solar Battery Market - Global Industry Analysis

Solar Battery Market by Product Type (Lithium Ion Batteries, Lead Acid Batteries, Sodium Based Batteries and Others), By End User (Residential, Industrial and Commercial): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Published Date: 30-Jun-2021 Category: Semiconductor & Electronics Report Format : PDF Pages: 120 Report Code: ZMR-6353 Status : Published

The global solar battery market accounted for USD 96.3 Million in 2020 and is expected to reach USD 297.1 Million by 2028, growing at a CAGR of 15.8% from 2021 to 2028.

Description

Market Overview

The global solar battery market accounted for USD 96.3 Million in 2020 and is expected to reach USD 297.1 Million by 2028, growing at a CAGR of 15.8% from 2021 to 2028.

A Solar Battery is a device that stores energy for later use and is charged by a solar system linked to it. This electricity which is stored is consumed after sundown at nights, during a power outage or during energy demand peaks. Often, solar batteries are used at residential or commercial structures. Policies adopted by the government of various countries, technological advancements for the development of relatively cheaper, durable and more efficient solar batteries along with the rising concern regarding hazards caused to due conventional power storage options are fueling market growth. Market players are now adopting to manufacture batteries that can cater to different power storage capacities and sizes.

COVID-19 Impact Analysis

The nationwide lockdowns implemented during the COVID-19 pandemic lead to reduced availability of manpower resulting in cancellation of new projects or delayed installations of solar systems. Furthermore as many people lost their jobs or were forced to keep their businesses shut, consumer expenditure sharply declined, affecting the demand.

Moreover, due to restrictions on movement within or between countries lead to an increase in the amount of inventories. Furthermore, the market was negatively impacted by a significant reliance on Chinese exports for solar battery, solar module solar cell.

Growth Factors

Market growth for solar battery is being fueled by rising demand for sustainable energy solutions. The market for solar power batteries is predicted to rise throughout the forecasted timeframe, as governments around the world are promoting the adoption of sustainable energy sources. Solar batteries may effectively reduce demand for coal, oil, and other imported fossil energy resources.

As consumers have become more aware and conscious about their buying choices and effect on the environment, concerns about the dangers of traditional power generating processes are driving up demand for a solar panel system. The need for solar-powered batteries is increasing as a result of this.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Product Type Segment Analysis Preview

Lithium Ion batteries segment held a share of around 30% in 2020. This is attributable to the fact that they require almost no regular maintenance. They also have a greater battery energy density than lead acid batteries, which means they can store more energy in a smaller space. In addition to these characteristics, lithium ion batteries are in demand due to their high charge and discharge efficiencies, which aid in the harvesting of huge amounts of energy. For example, lithium ion batteries have an average efficiency of 90-95 percent, but lead acid batteries have an average efficiency of 80-85 percent.

End User Segment Analysis Preview

The Industrial segment will grow at a CAGR of over 12% from 2021 to 2028. This is attributable to high demand for more energy storage solutions from diverse industrial end-users. Furthermore governments around the world are promoting the adoption of sustainable energy sources. This has resulted in introduction of new government tax credit and incentive programs to incentivize adoption of greener alternatives. All these factors are likely to attract the growth of solar batteries in this segment.

Regional Analysis Preview

North America region held a share of around 25% in 2020. This is attributable to an increase in investments in smart solar power plants as well as an increase in solar capacity and installations in the region. Because of the US government's increased support for the installation of smart solar projects, the US is a key revenue source for the worldwide as well as North American solar battery market.

The Asia Pacific region is projected to grow at a CAGR of around 15% over the forecast period. This surge is due to an increase in government initiatives over renewable energy storage in growing countries such as India, South Korea and China. The market in this region is projected to increase as a result of these factors. Furthermore, being the world's greatest producer of solar energy, China will have a favorable impact on the demand for solar batteries in this region.

Key Market Players & Competitive Landscape

Some of key players in solar battery market are BYD Company, Carnegie Clean Energy, Kokam.Co, LG Chem, Primus Power, Bosch Solar Energy, Samsung SDI, Exide Technologies, Panasonic and EnerSys among others. 

To keep up with the fierce market competition faced in this market, major players across the world have adopted strategies like mergers, acquisitions and business expansion.

The global Solar Battery system market is segmented as follows:

By Technology

  • Lithium Ion Batteries
  • Lead Acid Batteries
  • Sodium Based Batteries

By End-User

  • Residential
  • Industrial
  • Commercial

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1. Report Description and Scope
    • 1.2. Research Scope
    • 1.3. Research Methodology
      • 1.3.1. Market Research Type
      • 1.3.2. Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1. Pharmaceutical Logistics Market, 2016–2026(USD Billion)
    • 2.2. Pharmaceutical Logistics Market: Snapshot
  • Chapter 3. Global Pharmaceutical Logistics Market– Industry Analysis
    • 3.1. Pharmaceutical Logistics Market: Market Dynamics
    • 3.2. Market Drivers
      • 3.2.1. . Rise in prevalence of chronic diseases and increase in the target patient population base will steer market trends.
      • 3.2.2. Burgeoning consumption of over the counter medicines like vitamins, supplements, and minerals will open new vistas of growth for pharmaceutical logistics industry over the upcoming years.
    • 3.3. Porter’s Five Forces Analysis
    • 3.4. Market Attractiveness Analysis
      • 3.4.1. Market attractiveness analysis By Type
      • 3.4.2. Market attractiveness analysis By Component
  • Chapter 4. Global Pharmaceutical Logistics Market– Competitive Landscape
    • 4.1. Company market share analysis
      • 4.1.1. Global Pharmaceutical Logistics Market: company market share, 2019
    • 4.2. Strategic development
      • 4.2.1. Acquisitions & mergers
      • 4.2.2. New Service launches
      • 4.2.3. Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4. Research and development and Regional expansion
    • 4.3. Price trend analysis
  • Chapter 5. Global Pharmaceutical Logistics Market– Type Analysis
    • 5.1. Global Pharmaceutical Logistics Market overview: By Type
      • 5.1.1. Global Pharmaceutical Logistics Market share, By Type , 2019 and 2026
    • 5.2. Culd Chain Logistics
      • 5.2.1. Global Pharmaceutical Logistics Market by Culd Chain Logistics, 2016–2026(USD Billion)
    • 5.3. Non-Culd Chain Logistics
      • 5.3.1. Global Pharmaceutical Logistics Market by Non-Culd Chain Logistics, 2016–2026(USD Billion)
  • Chapter 6. Global Pharmaceutical Logistics Market– Component Analysis
    • 6.1. Global Pharmaceutical Logistics Market overview: By Component
      • 6.1.1. Global Pharmaceutical Logistics Market share, By Component, 2019 and 2026
    • 6.2. Storage
      • 6.2.1. Global Pharmaceutical Logistics Market by Storage, 2016–2026(USD Billion)
    • 6.3. Transportation
      • 6.3.1. Global Pharmaceutical Logistics Market by Transportation, 2016–2026(USD Billion)
  • Chapter 7. Company Profiles
    • 7.1. CEVA Logistics
      • 7.1.1. Overview
      • 7.1.2. Financials
      • 7.1.3. Service Portfolio
      • 7.1.4. Business Strategy
      • 7.1.5. Recent Developments
    • 7.2. AmerisourceBergen Corporation
      • 7.2.1. Overview
      • 7.2.2. Financials
      • 7.2.3. Service Portfolio
      • 7.2.4. Business Strategy
      • 7.2.5. Recent Developments
    • 7.3. Agility
      • 7.3.1. Overview
      • 7.3.2. Financials
      • 7.3.3. Service Portfolio
      • 7.3.4. Business Strategy
      • 7.3.5. Recent Developments
        • 7.4. C.H. Robinson Worldwide, Inc.
      • 7.4.1. Overview
      • 7.4.2. Financials
      • 7.4.3. Service Portfolio
      • 7.4.4. Business Strategy
      • 7.4.5. Recent Development
    • 7.5. Air Canada
      • 7.5.1. Overview
      • 7.5.2. Financials
      • 7.5.3. Service Portfolio
      • 7.5.4. Business Strategy
      • 7.5.5. Recent Development
    • 7.6. FedEx
      • 7.6.1. Overview
      • 7.6.2. Financials
      • 7.6.3. Service Portfolio
      • 7.6.4. Business Strategy
      • 7.6.5. Recent Development
    • 7.7. United Parcel Service of America, Inc.
      • 7.7.1. Overview
      • 7.7.2. Financials
      • 7.7.3. Service Portfolio
      • 7.7.4. Business Strategy
      • 7.7.5. Recent Development
    • 7.8. PCI Pharma Services
      • 7.8.1. Overview
      • 7.8.2. Financials
      • 7.8.3. Service Portfolio
      • 7.8.4. Business Strategy
      • 7.8.5. Recent Development
    • 7.9. Stellar Value Chain Sulutions Pvt. Ltd.
      • 7.9.1. Overview
      • 7.9.2. Financials
      • 7.9.3. Service Portfolio
      • 7.9.4. Business Strategy
      • 7.9.5. Recent Development
    • 7.10. Continental Cargo OÜ
      • 7.10.1. Overview
      • 7.10.2. Financials
      • 7.10.3. Service Portfolio
      • 7.10.4. Business Strategy
      • 7.10.5. Recent Development
    • 7.11. DSV
      • 7.11.1. Overview
      • 7.11.2. Financials
      • 7.11.3. Service Portfolio
      • 7.11.4. Business Strategy
      • 7.11.5. Recent Development
    • 7.12. Kuehne+Nagel
      • 7.12.1. Overview
      • 7.12.2. Financials
      • 7.12.3. Service Portfolio
      • 7.12.4. Business Strategy
      • 7.12.5. Recent Development
    • 7.13. AGRO Merchants Group
      • 7.13.1. Overview
      • 7.13.2. Financials
      • 7.13.3. Service Portfolio
      • 7.13.4. Business Strategy
      • 7.13.5. Recent Development
    • 7.14. LifeConEx
      • 7.14.1. Overview
      • 7.14.2. Financials
      • 7.14.3. Service Portfolio
      • 7.14.4. Business Strategy
      • 7.14.5. Recent Development
    • 7.15. KERRY LOGISTICS NETWORK LIMITED
      • 7.15.1. Overview
      • 7.15.2. Financials
      • 7.15.3. Service Portfolio
      • 7.15.4. Business Strategy
      • 7.15.5. Recent Development
    • 7.16. YUSEN LOGISTICS CO, LTD.
      • 7.16.1. Overview
      • 7.16.2. Financials
      • 7.16.3. Service Portfolio
      • 7.16.4. Business Strategy
      • 7.16.5. Recent Development
    • 7.17. VersaCuld Logistics Services
      • 7.17.1. Overview
      • 7.17.2. Financials
      • 7.17.3. Service Portfolio
      • 7.17.4. Business Strategy
      • 7.17.5. Recent Development
    • 7.18. MARKEN
      • 7.18.1. Overview
      • 7.18.2. Financials
      • 7.18.3. Service Portfolio
      • 7.18.4. Business Strategy
      • 7.18.5. Recent Development
    • 7.19. Panalpina World Transport (Hulding) Ltd.
      • 7.19.1. Overview
      • 7.19.2. Financials
      • 7.19.3. Service Portfolio
      • 7.19.4. Business Strategy
      • 7.19.5. Recent Development
    • 7.20. SF Express
      • 7.20.1. Overview
      • 7.20.2. Financials
      • 7.20.3. Service Portfolio
      • 7.20.4. Business Strategy
      • 7.20.5. Recent Development

List of Figures

FIG NO. 1. Market Attractiveness Analysis, By Product
FIG NO. 2. Market Attractiveness Analysis, By End User
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Global Solar Battery Market Revenue, 2016 – 2028 (USD Million)
FIG NO. 5. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6. Market Revenue Share, By Product, 2020 & 2028
FIG NO. 7. Global Solar Battery Market for Lithium Ion Batteries, Revenue (USD Million) 2016 – 2028
FIG NO. 8. Comparative Revenue Analysis of Solar Battery Market for Lithium Ion Batteries, By Country, 2020 & 2028
FIG NO. 9. Global Solar Battery Market for Lead Acid Batteries, Revenue (USD Million) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Solar Battery Market for Lead Acid Batteries, By Country, 2020 & 2028
FIG NO. 11. Global Solar Battery Market for Sodium Based Batteries, Revenue (USD Million) 2016 – 2028
FIG NO. 12. Comparative Revenue Analysis of Solar Battery Market for Sodium Based Batteries, By Country, 2020 & 2028
FIG NO. 13. Global Solar Battery Market for Others, Revenue (USD Million) 2016 – 2028
FIG NO. 14. Comparative Revenue Analysis of Solar Battery Market for Others, By Country, 2020 & 2028
FIG NO. 15. Market Revenue Share, By End User, 2020 & 2028
FIG NO. 16. Global Solar Battery Market for Residential, Revenue (USD Million) 2016 – 2028
FIG NO. 17. Comparative Revenue Analysis of Solar Battery Market for Residential, By Country, 2020 & 2028
FIG NO. 18. Global Solar Battery Market for Industrial, Revenue (USD Million) 2016 – 2028
FIG NO. 19. Comparative Revenue Analysis of Solar Battery Market for Industrial, By Country, 2020 & 2028
FIG NO. 20. Global Solar Battery Market for Commercial, Revenue (USD Million) 2016 – 2028
FIG NO. 21. Comparative Revenue Analysis of Solar Battery Market for Commercial, By Country, 2020 & 2028
FIG NO. 22. Global Solar Battery Market Revenue Share, By Region, 2020 & 2028
FIG NO. 23. North America Solar Battery Market Revenue, 2016 - 2028 (USD Million)
FIG NO. 24. Porter’s Five Forces Analysis for Global Solar Battery Market
FIG NO. 25. PEST Analysis for Global Solar Battery Market
FIG NO. 26. Pricing Analysis for Global Solar Battery Market
FIG NO. 27. Value Chain Analysis for Global Solar Battery Market
FIG NO. 28. Company Share Analysis, 2019
FIG NO. 29. Radar Determinant Chart, 2019
FIG NO. 30. Company Strategic Developments – Heat Map Analysis
FIG NO. 31. BYD Company Business Segment Revenue Share, 2020 (%)
FIG NO. 32. BYD Company Geographical Segment Revenue Share, 2020 (%)
FIG NO. 33. Market Channels
FIG NO. 34. Marketing Channel Development Trend
FIG NO. 35. Growth in World Gross Product, 2008-2018
FIG NO. 36. Research Methodology – Detailed View
FIG NO. 37. Research Methodology
 


List of Tables

TABLE NO. 1. Global Solar Battery Market: Snapshot
TABLE NO. 2. Quarterly Solar Battery Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Solar Battery Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
TABLE NO. 6. Global Solar Battery Market for Lithium Ion Batteries, by Region, 2016 – 2028 (USD Million)
TABLE NO. 7. Global Solar Battery Market for Lead Acid Batteries, by Region, 2016 – 2028 (USD Million)
TABLE NO. 8. Global Solar Battery Market for Sodium Based Batteries, by Region, 2016 – 2028 (USD Million)
TABLE NO. 9. Global Solar Battery Market for Others, by Region, 2016 – 2028 (USD Million)
TABLE NO. 10. Global Solar Battery Market for Residential, by Region, 2016 – 2028 (USD Million)
TABLE NO. 11. Global Solar Battery Market for Industrial, by Region, 2016 – 2028 (USD Million)
TABLE NO. 12. Global Solar Battery Market for Commercial, by Region, 2016 – 2028 (USD Million)
TABLE NO. 13. Global Solar Battery Market Revenue, By Region, 2016 – 2028 (USD Million)
TABLE NO. 14. North America Solar Battery Market Revenue, By Country, 2016 – 2028 (USD Million)
TABLE NO. 15. North America Solar Battery Market Revenue, By Product, 2016 – 2028 (USD Million)
TABLE NO. 16. North America Solar Battery Market Revenue, By End User, 2016 – 2028 (USD Million)
TABLE NO. 17. U.S. Solar Battery Market Revenue, By Product, 2016 – 2028 (USD Million)
TABLE NO. 18. U.S. Solar Battery Market Revenue, By End User, 2016 – 2028 (USD Million)
TABLE NO. 19. Canada Solar Battery Market Revenue, By Product, 2016 – 2028 (USD Million)
TABLE NO. 20. Canada Solar Battery Market Revenue, By End User, 2016 – 2028 (USD Million)
TABLE NO. 21. Mexico Solar Battery Market Revenue, By Product, 2016 – 2028 (USD Million)
TABLE NO. 22. Mexico Solar Battery Market Revenue, By End User, 2016 – 2028 (USD Million)
TABLE NO. 23. Drivers for the Solar Battery Market: Impact Analysis
TABLE NO. 24. Restraints for the Solar Battery Market: Impact Analysis
TABLE NO. 25. Major Buyers of Solar Battery
TABLE NO. 26. Distributors/Traders List of Solar Battery
TABLE NO. 27. Global Solar Battery Market, Company Market Revenue, 2016 – 2019 (USD Million)
TABLE NO. 28. Global Solar Battery Market, Company Y-o-Y Growth, 2017 – 2019 (USD Million)
 

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FrequentlyAsked Questions

The global solar battery market was valued at USD 96.3 Million in 2020.

The global solar battery market is expected to reach USD 297.1 Million by 2028, growing at a CAGR of 15.8% between 2021 to 2028.

Some of the key factors driving the global solar battery market growth are policies adopted by the government of various countries, technological advancements for the development of relatively cheaper, durable and more efficient solar batteries along with the rising concern regarding hazards caused to due conventional power storage options.

North America region held a substantial share of the solar battery market in 2020. This is attributable to an increase in investments in smart solar power plants as well as an increase in solar capacity and installations in the region. Another additional factor is the US government's increased support for the installation of smart solar projects.

Some of the major companies operating in the solar battery market are BYD Company, Carnegie Clean Energy, Kokam.Co, LG Chem, Primus Power, Bosch Solar Energy, Samsung SDI, Exide Technologies, Panasonic and EnerSys among others.

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