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Solar Energy Storage Market – 2019 Size, Share, Growth, Trends, Regional Analysis With Global Industry Forecast To 2023

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Solar Energy Storage Market – 2019 Size, Share, Growth, Trends, Regional Analysis With Global Industry Forecast To 2023

April 24
17:49 2020
Solar Energy Storage Market - 2019 Size, Share, Growth, Trends, Regional Analysis With Global Industry Forecast To 2023

“‘Solar Energy Storage Market””
Solar Energy Storage Market 2019 Global Size, Growth Trends, And Regional Outlook to 2023 is latest report published by Market Research Future. Global Solar Energy Storage Market is to grow at healthy 8.89% CAGR by 2023. Global Solar Energy Storage Market by Battery Type (Lead-Acid, Li-ion, NaS), End-User (Utility, Industrial & Commercial, Residential), Solar Technology, Connection Type, Application and Region with Forecast To 2023.

Solar Energy Storage Market 2019 Global Size, Growth Trends, And Regional Outlook to 2023 is latest report published by Market Research Future. Global Solar Energy Storage Market is to grow at healthy 8.89% CAGR by 2023. Global Solar Energy Storage Market by Battery Type (Lead-Acid, Li-ion, NaS), End-User (Utility, Industrial & Commercial, Residential), Solar Technology, Connection Type, Application and Region with Forecast To 2023.

Solar Energy Storage Key Players Analyzed in Report:

LG Chem, Ltd. (South Korea), ABB Ltd. (Switzerland), General Electric Company (U.S.), Samsung SDI Co., Ltd (South Korea), AEG Power Solutions (Germany), Tesla, Inc. (U.S.), Abengoa S.A. (Spain), eSolar Inc. (U.S.), ACCIONA, S.A. (Spain), BrightSource Energy, Inc. (U.S.), Alpha Technologies (U.S.), and EVERGREEN SOLAR INC. (U.S.).

Get Free Sample “Solar Energy Storage Market Research Report-Global Forecast till 2023” at: https://www.marketresearchfuture.com/sample_request/5866

Solar Energy Storage Market Highlights:

Market Research Future published research report on global Solar Energy Storage system market. The Solar Energy Storage system market is expected to grow at 8.89% CAGR during the period 2017 to 2023. Mammoth Demand for Uninterrupted Power Supply Promoting Solar Energy Storage Market.

The surging demand for electricity globally is promoting the growth of the solar energy and battery market. Energy storage is a technology which offers a source of power, and when needed without backsliding to conventional energy sources. These systems are effective and can be used whenever required. Moreover, growing need for an uninterrupted power supply with a substantial increase in power demand throughout the world is driving the global Solar Energy Storage system market. The global growth in industrial development activity and urbanization is making a path for the Solar Energy Storage market. However, high capital investments are restraining the market.

The Solar Energy Storage market is stealing the spotlight across the globe mainly due to the surging demand for electricity across the globe. The government supportive policies are considered one of the crucial drivers promoting the growth of the market across the globe. Solar energy policies constitute of international treaties, legislation, and incentives for investment like financial incentives especially in the U.S. In economies like Germany, India, and the U.K., policies like Renewable Portfolio Standard (RPS), Feed-in-Tariff (FIT), pricing laws, tax credits, quota requirements, production incentives, trading systems are developed and implemented in order to promote the use of solar energy. This is likely to trigger the demand for Solar Energy Storage market across the globe. With the mammoth demand for uninterrupted power supply with subsequent growth in power demand, the market is anticipated to foster in the foreseeable future. Moreover, the boom in urbanization and industrial development activity is further creating path for Solar Energy Storage market.

Global Solar Energy Storage Market Segments:

Global Solar Energy Storage system market has been segmented based on battery type, solar technology, connection type, application, end-user, and region.

Based on connection type, the market is segmented into on-grid and off-grid. The on-grid battery energy storage systems are linked to the utility grid. They use utility grids for delivering electricity to consumers. Load leveling, peak shaving, and power demand management are the key applications of any on-grid connected battery energy storage system installed with electrical grids. These factors contribute to the growth of the market for on-grid battery energy storage systems. The off-grid segment is expected to contribute significantly to the market during the forecast period. An off-grid battery energy storage system, also called stand-alone system, works independently and is not connected to the electricity distribution system.

Based on solar technology, the market is segmented into solar photovoltaic (PV) and Concentrated Solar Power (CSP). Among these, the solar PV is an important segment of the market. Solar PV had the highest installed capacity of 306.5 GW, till 2016, and many solar PV projects are under construction.

Based on battery type, the market is segmented into lead-acid, lithium ion (Li-ion), sodium sulfur, and others. Li-ion segment will account for the major market share and dominate this market by the end of the forecast period.

By mode of end-users, the market comprises industrial & commercial, utility, and residential. Among these, the utility segment is likely to acquire the largest market share and has experienced growth in both mature and new markets. Regions of North America and Europe has contributed to the growth of the utility Solar Energy Storage system market which is further driven by innovative vendors, regulations, and project developers. Meanwhile, the residential segment is likely to experience a steady momentum due to increasing electricity prices and surging demand for residential energy consumption.

Global Solar Energy Storage Market Regional Overview:

Geographically, the Solar Energy Storage market has been studied under regions namely, Europe, North America, Asia Pacific, and the Middle East & Africa.

Considering the global scenario, the European region is likely to dominate the global market and has a cumulative energy storage capacity of 30 GW. Solar energy is considered one of the major renewable energy sources in the countries of the region and contributed around 6.4% of the overall energy production. Several power projects in this region are under construction which fuels the growth in this region.

The Asia Pacific region is anticipated to expand at the highest CAGR in the foreseeable future due to the growing concerns related to the environment coupled with the surging demand for energy. Japan is likely to contribute a substantially as the government in this country is aiming towards making the local companies capable of acquiring a 50% share of the world’s battery storage market. Some of the industry bigshots like Mitsubishi, Hitachi, Panasonic, NEC, and Toshiba are offering batteries for solar energy storage system, which is further contributing to the growth of the market.

TABLE OF CONTENTS:

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market Size Estimation

2.5 Forecast Model

3 Market Landscape

3.1 Porter’s Five Forces Analysis

3.1.1 Threat Of New Entrants

3.1.2 Bargaining Power Of Buyers

3.1.3 Bargaining Power Of Suppliers

3.1.4 Threat Of Substitutes

3.1.5 Segment Rivalry

3.2 Value Chain/Supply Chain Analysis

4 Market Dynamics

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

4.5 Market Trends

5 Global Solar Energy Storage System Market, By Battery Type

Continued…

List Of Tables:

Table 1 Global Solar Energy Storage System Market: By Region, 2017-2023

Table 2 North America Solar Energy Storage System Market: By Country, 2017-2023

Table 3 Europe Solar Energy Storage System Market: By Country, 2017-2023

Table 4 Asia-Pacific Solar Energy Storage System Market: By Country, 2017-2023

Table 5 RoW Solar Energy Storage System Market: By Country, 2017-2023

Table 6 Global Solar Energy Storage System Market, By Battery Type, By Regions, 2017-2023

Table 7 North America Solar Energy Storage System Market, By Battery Type, By Country, 2017-2023

Table 8 Europe Solar Energy Storage System Market, By Battery Type, By Country, 2017-2023

Table 9 Asia-Pacific Solar Energy Storage System Market By Battery Type, By Country, 2017-2023

Continued…

LIST OF FIGURES:

FIGURE 1 RESEARCH PROCESS OF MRFR

FIGURE 2 TOP DOWN & BOTTOM UP APPROACH

FIGURE 3 MARKET DYNAMICS

FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS

FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS

FIGURE 6 PORTER’S FIVE FORCES ANALYSIS

FIGURE 7 VALUE CHAIN ANALYSIS

FIGURE 8 GLOBAL SOLAR ENERGY STORAGE SYSTEM MARKETSHARE, BY BATTERY TYPE, 2016 (%)

FIGURE 9 GLOBAL SOLAR ENERGY STORAGE SYSTEM MARKET, BY BATTERY TYPE, 2015-2023 (USD MILLION)

Continued…

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
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Phone: +1 646 845 9312
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City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/solar-energy-battery-storage-market-5866


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