Residential Solar Energy Storage Market 2020-2024 | The Rising Energy Costs to Boost Growth | Technavio

Technavio has been monitoring the residential solar energy storage market and it is poised to grow by $26.59 bn during 2020-2024, progressing at a CAGR of about 37% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Technavio has announced its latest market research report titled Global Residential Solar Energy Storage Market 2020-2024 (Graphic: Business Wire)

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. East Penn Manufacturing Co. Inc., Enphase Energy Inc., LG Chem Ltd., LG Electronics Inc., Panasonic Corp., redT energy Plc, Royal Dutch Shell Plc, Samsung SDI Co. Ltd., Sony Corp., and TOTAL SA are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The rising energy costs has been instrumental in driving the growth of the market. However, technical challenges associated with battery technology might hamper market growth.

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Residential Solar Energy Storage Market 2020-2024: Segmentation

Residential Solar Energy Storage Market is segmented as below:

  • Technology
  • Li-ion Batteries
  • Lead Acid Batteries
  • Geographic Landscape
  • APAC
  • Europe
  • MEA
  • North America
  • South America

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Residential Solar Energy Storage Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our residential solar energy storage market report covers the following areas:

  • Residential Solar Energy Storage Market Size
  • Residential Solar Energy Storage Market Trends
  • Residential Solar Energy Storage Market Industry Analysis

This study identifies increasing green construction spending and zero energy home as the prime reasons driving the residential solar energy storage market growth during the next few years.

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Residential Solar Energy Storage Market 2020-2024 : Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist residential solar energy storage market growth during the next five years
  • Estimation of the residential solar energy storage market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the residential solar energy storage market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of residential solar energy storage market vendors

Table of Contents:

Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Technology

  • Market segments
  • Comparison by Technology placement
  • Li-ion batteries - Market size and forecast 2019-2024
  • Lead-acid batteries - Market size and forecast 2019-2024
  • Market opportunity by Technology

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers
  • Volume driver - Demand led growth
  • Volume driver - Supply led growth
  • Volume driver - External factors
  • Volume driver - Demand shift in adjacent markets
  • Price driver - Inflation
  • Price driver - Shift from lower to higher-priced units
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • East Penn Manufacturing Co. Inc.
  • Enphase Energy Inc.
  • LG Chem Ltd.
  • LG Electronics, Inc.
  • Panasonic Corp.
  • redT energy Plc
  • Royal Dutch Shell Plc
  • Samsung SDI Co. Ltd.
  • Sony Corp.
  • TOTAL SA

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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