Global Residential Battery Market Size to grow USD 27.8 Billion by 2030 | CAGR of 17.26%

Category: Energy & Power


A PHP Error was encountered

Severity: Notice

Message: Undefined variable: table

Filename: press/detail.php

Line Number: 118


File: /home/admin/web/
Line: 118
Function: _error_handler

File: /home/admin/web/
Line: 652
Function: view

File: /home/admin/web/
Line: 89
Function: view

File: /home/admin/web/
Line: 295
Function: require_once

The Global Residential Battery Market Was Valued At USD 9.87 Billion In 2021, And It Is Anticipated To Reach USD 27.8 Billion By 2030, At A CAGR Of 17.26%. as per the latest research report by Spherical Insights & Consulting.


Batteries are a critical component of energy storage systems and account for a significant fraction of the system's total cost, particularly in residential energy storage systems. The overall installed capacity of renewable energy sources, as well as the installation of solar rooftops on residential structures, is growing rapidly around the world. The demand for battery energy storage is projected to rise in tandem with the development in solar rooftop capacity. As a result, the introduction of new energy storage systems (ESS) for residential applications is likely to raise lithium-ion battery demand over the projection period. Lithium-ion batteries have advantages over other batteries in terms of weight, charging time, number of charging cycles, and cost.

Residential Battery Market

Get more details on this report -

Request Free Sample PDF


Browse key industry insights spread across 195 pages with 119 market data tables and figures & charts from the report “Global Residential Battery Market By Type (Lithium-ion battery, Lead-Acid battery, Others), By Power Rating (3-6 kW, 6-10 kW), By Operation (Standalone, Solar); By Region (U.S., Canada, Mexico, Rest of North America, The UK, France, Germany, Italy, Spain, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, the Netherlands, Luxembourg), Rest of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa, Brazil, Argentina, Rest of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2021-2030” in detail along with the table of contents


Increased demand for continuous power supply has prompted investments in backup power systems at residential sites, which is a key market driver for the residential battery storage industry. Supporting the operational advantages of LI-ion batteries has also had a favourable impact on the market. Other market drivers include the expanding use of renewable energy and the cheap cost of lithium-ion batteries.


The lithium-ion segment is expected to dominate the market share in 2020 of global residential battery market owing to due to the great efficiency offered in comparison to other alternatives In recent years, the market for lithium-ion batteries has been fueled by falling costs. The standalone is expected to dominate the market share in 2020 of global residential battery market owing to due to the solar power was introduced, stand-alone type batteries were being put in residential places. As a result, these stand-alone batteries account for a significant portion of the market.


Residential Battery Market

Get more details on this report -

Request Free Sample PDF

Asia Pacific dominated the global health medicine market owing to the massive growth in demand for uninterrupted electrical supplies from the last decade. As a result, many residential customers have been forced to build separate battery storage devices in the event of a power outage. Battery installations at residential locations in the region have also been fueled by recent investments in solar electricity generating. Customers' installation of these batteries has resulted in fewer outages and lower electricity bills, which has had a favourable impact on the whole market.


Related Report

Global Electric Bus Market Analysis, Forecast 2030

Global Power Bank Rental Services Market Size Growth 2030


Contact Us:

Need help to buy this report?

Inquiry Before Buy
We'll use cookies to improve and customize your experience if you continue to browse. Is it OK if we also use cookies to show you personalized ads?
Learn more and manage your cookies
Yes, Accept Cookies