Raipur, Nov. 07, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Solar Energy Storage Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
Click here to get the free sample pdf:
https://www.stratviewresearch.com/Request-Sample/1927/solar-energy-storage-market.html#form
How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Solar Energy Storage Market is driven by a host of factors, some of which are noted below:
- Increasing concern toward environmental problems and stringent governments’ regulations to reduce carbon emission and energy conservation.
- Growing utilization of non-conventional energy sources, increasing demand for electricity, competition for lower cost energy, etc.
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Solar Energy Storage Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
- By Composition Type (Lead Acid, Lithium Ion, Flow Battery, and Others),
- By Capacity Type (Up to 50kW, 51 to 250 kW, 251 to 500 kW, 501 to 1000 kW, 1001 to 2500 kW, 2501 to 5000 kW, 5001 to 10000 kW, and >10000 kW),
- By Installation Type (On-grid and and Off-grid),
- By Region (North America, Europe, Asia-Pacific, and Rest of the World).
Solar Energy Storage Market Insights
Market Trends by Composition Type
The market is segmented as lead acid, lithium-ion, flow battery, and others. The lead acid battery storage segment is expected to witness significant growth rate in the market during the forecast period owing to its good cost-performance ratio across a broad range of applications. Furthermore, lead acid batteries are the first rechargeable batteries to be deployed in wide-scale uses, thereby driving the growth of the segment.
Market Trends by Capacity Type
The market is segmented as up to 50kW, 51 to 250 kW, 251 to 500 kW, 501 to 1000 kW, 1001 to 2500 kW, 2501 to 5000 kW, 5001 to 10000 kW, and >10000 kW. The >10000 kW capacity type is expected to register high growth rate in the market owing to the increasing support of governments from large number of countries for variable renewable energy. Unification of ancillary services to grids will stimulate the market growth.
Market Trends by Installation Type
The market is segmented as on-grid and off-grid. Off-grid installation is estimated to account for the major share of the market during the forecast period on account of being a cost-effective solution fulfilling the demand for electricity. Due to low technological cost, this installation is developing rapidly. Optimistic outlook of the industry owing to positive response from consumers for sustainable energy usage will boost the market growth.
Which region offers the best opportunity and growth?
Asia-Pacific is expected to lead the market during the forecast period.
- The region’s market is driven by rising environmental concerns and growing energy demand, which being the two crucial parameters expected to drive the growth of the market in the Asia-Pacific region.
- China and India are the growth engines of the region. In addition, Japan is contributing enormously to the solar energy battery storage system market.
- The government of Japan is aiming to make the local companies capable of holding ~50% share of the world’s battery storage market by 2020.
- North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
COVID-19 Impact on the Solar Energy Storage Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
https://www.stratviewresearch.com/Request-Sample/1927/solar-energy-storage-market.html#form
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -
- BMW
- BYD
- Kokam
- Carnegie Clean Energy
- Primus Power
- Maxwell Technologies
- Samsung
- LG Chem
- EnerSys
- Leclanche
- BAE
- Saft
- FIAMM
- Vionx
- Adara Power
- Aquion
- Ecoult.
What deliverables will you get in this report?
- In-depth analysis of the Solar Energy Storage Market
- Detailed market segmentation.
- Competitive-landscape analysis.
- Historical, present, and future market size analysis.
- Industry trends, technologies, and advancements.
- Growth and operation strategies adopted by key players.
- Potential segments/regions offering promising growth.
- Geographical presence of the key players.
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