The global solar energy storage market is estimated to grow in the forecast period of 2023-2028 at a CAGR of 61%. The market is driven by the rising demand for global energy.
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The solar energy storage is referred to as the device which works by discarding excess electricity and then storing it.
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The market is segmented based on storage materials, technology, applications, and end-uses.
Based on the storage material, the industry is segmented into:
Based on technology, the industry is categorised into:
Based on applications, the industry is divided into:
Based on end-uses, the industry is divided into:
The EMR report looks into the regional markets of solar energy storage like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
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The global solar energy storage market is being driven by the escalated energy demand globally. The industry is further enhanced by the rising investments in renewable energy sources. China and the United States represent the largest energy demand. The industry growth is expected to be enhanced by the predicted demand from the emerging economies. The electrification of transportation and heat sector, the digitalization of modern economies, and an increase in the number of electronically connected devices is expected to accelerate the industry growth of solar energy storage. The industries are adopting electric motor systems, further propelling the industry growth.
The report presents a detailed analysis of the following key players in the global solar energy storage market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
|Scope of the Report||Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Storage Material, Technology, Application, End Use, Region|
|Breakup by Storage Material||Water, Molten Salt, PCM, Others|
|Breakup by Technology||Sensible Heat, Latent Heat, Thermochemical, Others|
|Breakup by Application||Power Generation, District Heating & Cooling, Process Heating & Cooling|
|Breakup by End Use||Residential & Commercial, Industrial, Utility|
|Breakup by Region||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Market Dynamics||SWOT, Porter's Five Forces, Key Indicators for Price and Demand|
|Competitive Landscape||Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications|
|Companies Covered||BYD Motors Inc., LG Chem, EnerSys, Leclanché, Saft, Adara Power, Others|
|Report Price and Purchase Option||Explore our purchase options that are best suited to your resources and industry needs.|
|Delivery Format||Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
7 Industry Opportunities and Challenges
8 Global Solar Energy Storage Market Analysis
8.1 Key Industry Highlights
8.2 Global Solar Energy Storage Historical Market (2018-2022)
8.3 Global Solar Energy Storage Market Forecast (2023-2028)
8.4 Global Solar Energy Storage Market by Storage Material
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
8.4.2 Molten Salt
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
8.5 Global Solar Energy Storage Market by Technology
8.5.1 Sensible Heat
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
8.5.2 Latent Heat
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
8.6 Global Solar Energy Storage Market by Application
8.6.1 Power Generation
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
8.6.2 District Heating and Cooling
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
8.6.3 Process Heating and Cooling
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
8.7 Global Solar Energy Storage Market by End Use
8.7.1 Residential and Commercial
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
8.8 Global Solar Energy Storage Market by Region
8.8.1 Market Share
18.104.22.168 North America
22.214.171.124 Asia Pacific
126.96.36.199 Latin America
188.8.131.52 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
184.108.40.206 United States of America
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
220.127.116.11 United Kingdom
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
18.104.22.168 Saudi Arabia
22.214.171.124 United Arab Emirates
126.96.36.199 South Africa
10 Market Dynamics
10.1 SWOT Analysis
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 BYD Motors Inc.
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
12.2.2 LG Chem
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
12.2.6 Adara Power
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Solar Energy Storage Market: Key Industry Highlights, 2018 and 2028
2. Global Solar Energy Storage Historical Market: Breakup by Storage Material (USD Billion), 2018-2022
3. Global Solar Energy Storage Market Forecast: Breakup by Storage Material (USD Billion), 2023-2028
4. Global Solar Energy Storage Historical Market: Breakup by Technology (USD Billion), 2018-2022
5. Global Solar Energy Storage Market Forecast: Breakup by Technology (USD Billion), 2023-2028
6. Global Solar Energy Storage Historical Market: Breakup by Application (USD Billion), 2018-2022
7. Global Solar Energy Storage Market Forecast: Breakup by Application (USD Billion), 2023-2028
8. Global Solar Energy Storage Historical Market: Breakup by End Use (USD Billion), 2018-2022
9. Global Solar Energy Storage Market Forecast: Breakup by End Use (USD Billion), 2023-2028
10. Global Solar Energy Storage Historical Market: Breakup by Region (USD Billion), 2018-2022
11. Global Solar Energy Storage Market Forecast: Breakup by Region (USD Billion), 2023-2028
12. North America Solar Energy Storage Historical Market: Breakup by Country (USD Billion), 2018-2022
13. North America Solar Energy Storage Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Europe Solar Energy Storage Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Europe Solar Energy Storage Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Asia Pacific Solar Energy Storage Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Asia Pacific Solar Energy Storage Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Latin America Solar Energy Storage Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Latin America Solar Energy Storage Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Middle East and Africa Solar Energy Storage Historical Market: Breakup by Country (USD Billion), 2018-2022
21. Middle East and Africa Solar Energy Storage Market Forecast: Breakup by Country (USD Billion), 2023-2028
22. Global Solar Energy Storage Market Structure
The market is estimated to grow at a CAGR of 61% between 2023 and 2028.
The major market drivers include the growing demand for energy across the globe, the rising adoption of electric motor systems, and the surging investments in renewable energy sources in both developed and developing countries.
The key trends guiding the market include the electrification of heat and transportation sector, the increasing number of electronically connected devices, and the digitalisation of modern economies.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major storage materials considered in the market report are water, molten salt, and PCM, among others.
The various technologies of solar energy storage considered in the market report include sensible heat, latent heat, and thermochemical, among others.
The significant applications of solar energy storage in the market are power generation, district heating and cooling, and process heating and cooling.
The several end uses of solar energy storage include residential and commercial, industrial, and utility.
The major players in the market are BYD Motors Inc., LG Chem, EnerSys, Leclanché, Saft, and Adara Power, among others.
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