Asia Pacific Batteries for Solar Energy Storage Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Battery Type (Lead acid, Lithium-Ion, Nickel Cadmium, and Others), Application (Residential, Commercial, and Industrial), and Connectivity (Off-Grid and On-Grid)

Code: BMIRE00027309 | Pages: 130 | Industry: Energy and Power | Date: Nov 2022 | Type: Regional

The batteries for solar energy storage market in Asia Pacific is expected to grow from US$  1,597.44 million in 2022 to US$ 5,058.12 million by 2028; it is estimated to grow at a CAGR of 21.2% from 2022 to 2028.

 

 The expansion of grid infrastructure projects is leading to a rise in demand for grid energy storage systems, further driving the batteries for solar energy storage market. For instance, in March 2022, Power Grid Corporation of India announced that it had approved investments on five projects worth US$ 103.42 million (INR 821.29 crore) across India. Similarly, in June 2022, the State Grid Corporation of China planned to invest an all-time high of about US$ 74.5 billion in power grid projects. Thus, such upcoming investment in grid expansion projects is propelling the demand for grid energy storage systems. The growing investment in the grid-scale battery storage system is fueling the market’s growth. For instance, in July 2022, Solar Energy Corp. and NTPC successfully executed the tenders for standalone energy storage systems. This initiative would accelerate investment, support domestic manufacturing, and facilitate the development of new business models.  In March 2021, Tata Power—in collaboration with Nexcharge, a lithium-ion battery and storage company—installed a 150 KW (kilowatt)/528 kWh (kilowatt hour) battery storage system offering six-hour storage to enhances the supply reliability at the distribution side and reduces the peak load on the distribution transformers. These factors mentioned above are propelling the market growth.

 

With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific batteries for solar energy storage market at a substantial CAGR during the forecast period.

 

 Asia Pacific Batteries for solar energy storage market Revenue and Forecast to 2028 (US$ Million) 

 Asia Pacific Batteries for solar energy storage market Revenue and Forecast to 2028 (US$ Million) 

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Asia Pacific Batteries for solar energy storage market Segmentation

 

The Asia Pacific batteries for solar energy storage market is segmented on the basis of battery type, application, connectivity, and country. 

Based on battery type, the market is segmented into lead acid, lithium-ion, nickel cadmium, and others. In 2022, the lithium-ion segment held a larger share of the market. And others segment is expected to register a higher CAGR during the forecast period. Based on application, the Asia Pacific batteries for solar energy storage market is segmented into residential, commercial, and industrial. The industrial segment held the largest market share in 2022 and commercial is expected to register the highest CAGR in the market during the forecast period. Based on connectivity, the Asia Pacific batteries for solar energy storage market is segmented into on-grid and off-grid. The on-grid segment held the largest market share in 2022 and the off-grid segment is expected to register the highest CAGR in the market during the forecast period. Based on country, the Asia Pacific batteries for solar energy storage market is segmented into China, Japan, India, South Korea, Australia, and Rest of APAC. In 2022, China held a larger market share. On the other side, and the same segment is expected to register a higher CAGR during the forecast period.

 

EnerSys; LECLANCHE; LG Electronics; Samsung SDI Co., Ltd.; Kokam; and Alpha ESS Co., Ltd. are among the leading companies in  the Asia Pacific batteries for solar energy storage market.

1.           Introduction

1.1         Study Scope

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

2.           Key Takeaways

3.        Research Methodology

3.1         Coverage

3.2         Secondary Research

3.3         Primary Research

4.           Asia Pacific Batteries for Solar Energy Storage Market Landscape

4.1         Market Overview

4.2         PEST Analysis

4.3         Ecosystem Analysis

4.4         Expert Opinion

5.           Asia Pacific Batteries for Solar Energy Storage Market – Key Market Dynamics

5.1         Market Drivers

5.1.1        Burgeoning Number of Renewable and Solar Energy Projects

5.1.2        Elevating Grid Infrastructure Projects

5.2         Market Restraints

5.2.1        Rise in Initial Investment in Battery Manufacturing

5.3         Market Opportunities

5.3.1        Decreasing in Prices of Lithium-Ion Batteries

5.4         Future Trends

5.4.1        Growing Awareness About Renewable Energy and Supportive Government Incentives and Regulatory Policies

5.5         Impact Analysis of Drivers and Restraints

6.           Asia Pacific Batteries for Solar Energy Storage – Market Analysis

6.1         Asia Pacific Batteries for Solar Energy Storage Market Overview

6.2         Asia Pacific Batteries for Solar Energy Storage Market Revenue Forecast and Analysis

7.           Asia Pacific Batteries for Solar Energy Storage Market Analysis – by Battery Type

7.1         Overview

7.2         Asia Pacific Batteries for Solar Energy Storage Market Breakdown, by Battery Type

7.3         Lead Acid

7.3.1        Overview

7.3.2        Lead Acid: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)

7.4         Lithium-Ion

7.4.1        Overview

7.4.2        Lithium-Ion: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)

7.5         Nickel Cadmium

7.5.1        Overview

7.5.2        Nickel Cadmium: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)

7.6         Others

7.6.1        Overview

7.6.2        Others: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)

8.           Asia Pacific Battery for Solar Energy Storage Market Analysis – by Application

8.1         Overview

8.2         Asia Pacific Batteries for Solar Energy Storage Market Breakdown, by Application

8.3         Residential

8.3.1        Overview

8.3.2        Residential: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)

8.4         Commercial

8.4.1        Overview

8.4.2        Commercial: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)

8.5         Industrial

8.5.1        Overview

8.5.2        Industrial: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)

9.           Asia Pacific Battery for Solar Energy Storage Market Analysis – by Connectivity

9.1         Overview

9.2         Asia Pacific Batteries for Solar Energy Storage Market Breakdown, by Connectivity

9.3         Off-Grid

9.3.1        Overview

9.3.2        Off-Grid: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)

9.4         On-Grid

9.4.1        Overview

9.4.2        On-Grid: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)

10.        Asia Pacific Batteries for Solar Energy Storage Market – Country Analysis

10.1      Overview

10.1.1     APAC Batteries for Solar Energy Storage Market Breakdown, by Country

10.1.1.1       Australia Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 (US$ million)

10.1.1.1.1       Australia Batteries for Solar Energy Storage Market Breakdown, by Battery Type

10.1.1.1.2       Australia Batteries for Solar Energy Storage Market Breakdown, by Application

10.1.1.1.3       Australia Batteries for Solar Energy Storage Market Breakdown, by Connectivity

10.1.1.2       China Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 (US$ million)

10.1.1.2.1       China Batteries for Solar Energy Storage Market Breakdown, by Battery Type

10.1.1.2.2       China Batteries for Solar Energy Storage Market Breakdown, by Application

10.1.1.2.3       China Batteries for Solar Energy Storage Market Breakdown, by Connectivity

10.1.1.3       India Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 (US$ million)

10.1.1.3.1       India Batteries for Solar Energy Storage Market Breakdown by Battery Type

10.1.1.3.2       India Batteries for Solar Energy Storage Market Breakdown, by Application

10.1.1.3.3       India Batteries for Solar Energy Storage Market Breakdown, by Connectivity

10.1.1.4       Japan Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 (US$ million)

10.1.1.4.1       Japan Batteries for Solar Energy Storage Market Breakdown, by Battery Type

10.1.1.4.2       Japan Batteries for Solar Energy Storage Market Breakdown, by Application

10.1.1.4.3       Japan Batteries for Solar Energy Storage Market Breakdown, by Connectivity

10.1.1.5       South Korea Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 (US$ million)

10.1.1.5.1       South Korea Batteries for Solar Energy Storage Market Breakdown, by Battery Type

10.1.1.5.2       South Korea Batteries for Solar Energy Storage Market Breakdown, by Application

10.1.1.5.3       South Korea Batteries for Solar Energy Storage Market Breakdown, by Connectivity

10.1.1.6       Rest of APAC Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 (US$ million)

10.1.1.6.1       Rest of APAC Batteries for Solar Energy Storage Market Breakdown, by Battery Type

10.1.1.6.2       Rest of APAC Batteries for Solar Energy Storage Market Breakdown, by Application

10.1.1.6.3       Rest of APAC Batteries for Solar Energy Storage Market Breakdown, by Connectivity

11.        Industry Landscape

11.1      Market Initiative

11.2      New Development

12.        Company Profiles

12.1      BYD Company Ltd

12.1.1     Key Facts

12.1.2     Business Description

12.1.3     Products and Services

12.1.4     Financial Overview

12.1.5     SWOT Analysis

12.1.6     Key Developments

12.2      EnerSys

12.2.1     Key Facts

12.2.2     Business Description

12.2.3     Products and Services

12.2.4     Financial Overview

12.2.5     SWOT Analysis

12.2.6     Key Developments

12.3      LECLANCHE

12.3.1     Key Facts

12.3.2     Business Description

12.3.3     Products and Services

12.3.4     Financial Overview

12.3.5     SWOT Analysis

12.3.6     Key Developments

12.4      LG Electronics

12.4.1     Key Facts

12.4.2     Business Description

12.4.3     Products and Services

12.4.4     Financial Overview

12.4.5     SWOT Analysis

12.4.6     Key Developments

12.5      Samsung SDI Co., Ltd.

12.5.1     Key Facts

12.5.2     Business Description

12.5.3     Products and Services

12.5.4     Financial Overview

12.5.5     SWOT Analysis

12.5.6     Key Developments

12.6      Kokam

12.6.1     Key Facts

12.6.2     Business Description

12.6.3     Products and Services

12.6.4     Financial Overview

12.6.5     SWOT Analysis

12.6.6     Key Developments

12.7      E3/DC GmbH

12.7.1     Key Facts

12.7.2     Business Description

12.7.3     Products and Services

12.7.4     Financial Overview

12.7.5     SWOT Analysis

12.7.6     Key Developments

12.8      SimpliPhi Power

12.8.1     Key Facts

12.8.2     Business Description

12.8.3     Products and Services

12.8.4     Financial Overview

12.8.5     SWOT Analysis

12.8.6     Key Developments

12.9      Sonnen Group

12.9.1     Key Facts

12.9.2     Business Description

12.9.3     Products and Services

12.9.4     Financial Overview

12.9.5     SWOT Analysis

12.9.6     Key Developments

12.10   Alpha ESS Co., Ltd.

12.10.1  Key Facts

12.10.2  Business Description

12.10.3  Products and Services

12.10.4  Financial Overview

12.10.5  SWOT Analysis

12.10.6  Key Developments

13.        Appendix

13.1      About The Insight Partners

13.2      Word Index

 

 

LIST OF TABLES

Table 1.             Asia Pacific Batteries for Solar Energy Storage Market Revenue Forecast and Forecast to 2028 (US$ Million)

Table 2.             APAC Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – By Country (US$ million)

Table 3.             Australia Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Battery Type (US$ million)

Table 4.             Australia Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Application (US$ million)

Table 5.             Australia Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Connectivity (US$ million)

Table 6.             China Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Battery Type (US$ million)

Table 7.             China Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Application (US$ million)

Table 8.             China Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Connectivity (US$ million)

Table 9.             India Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Battery Type (US$ million)

Table 10.          India Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Application (US$ million)

Table 11.          India Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Connectivity (US$ million)

Table 12.          Japan Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Battery Type (US$ million)

Table 13.          Japan Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Application (US$ million)

Table 14.          Japan Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Connectivity (US$ million)

Table 15.          South Korea Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Battery Type (US$ million)

Table 16.          South Korea Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Application (US$ million)

Table 17.          South Korea Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Connectivity (US$ million)

Table 18.          Rest of APAC Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Battery Type (US$ million)

Table 19.          Rest of APAC Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Application (US$ million)

Table 20.          Rest of APAC Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 – by Connectivity (US$ million)

Table 21.          List of Abbreviation

 

 

LIST OF FIGURES

Figure 1.           Asia Pacific Batteries for Solar Energy Storage Market Segmentation

Figure 2.           Asia Pacific Batteries for Solar Energy Storage Market Segmentation – By Country

Figure 3.           Asia Pacific Batteries for Solar Energy Storage Market Overview

Figure 4.           Asia Pacific Batteries for Solar Energy Storage Market, by Battery type

Figure 5.           Asia Pacific Batteries for Solar Energy Storage Market, by Country

Figure 6.           Asia Pacific: PEST Analysis

Figure 7.           Asia Pacific Batteries for Solar Energy Storage Market- Ecosystem Analysis

Figure 8.           Expert Opinion

Figure 9.           Asia Pacific Batteries for Solar Energy Storage Market: Impact Analysis of Drivers and Restraints

Figure 10.        Asia Pacific Batteries for Solar Energy Storage Market Revenue Forecast and Analysis (US$ Million)

Figure 11.        Asia Pacific Batteries for Solar Energy Storage Market Breakdown, by Battery Type, 2021 & 2028 (%)

Figure 12.        Lead Acid: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)

Figure 13.        Lithium-Ion: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)

Figure 14.        Nickel Cadmium: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)

Figure 15.        Others: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)

Figure 16.        Asia Pacific Batteries for Solar Energy Storage Market Breakdown, by Application, 2021 & 2028 (%)

Figure 17.        Residential: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)

Figure 18.        Commercial: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)

Figure 19.        Industrial: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)

Figure 20.        Asia Pacific Batteries for Solar Energy Storage Market Breakdown, by Connectivity, 2021 & 2028 (%)

Figure 21.        Off-Grid: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)

Figure 22.        On-Grid: Battery for Solar Energy Storage Market Revenue and Forecast to 2028 (US$ Million)

Figure 23.        Geographic Overview of Asia Pacific Batteries for Solar Energy Storage Market

Figure 24.        APAC Batteries for Solar Energy Storage Market Breakdown, by Country, 2021 & 2028 (%)

Figure 25.        Australia Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 (US$ million)

Figure 26.        China Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 (US$ million)

Figure 27.        India Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 (US$ million)

Figure 28.        Japan Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 (US$ million)

Figure 29.        South Korea Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 (US$ million)

Figure 30.        Rest of APAC Batteries for Solar Energy Storage Market, Revenue and Forecast to 2028 (US$ million)

  1. EnerSys
  2. LECLANCHE
  3. LG Electronics
  4. Samsung SDI Co., Ltd.
  5. Kokam                            
  6. Sonnen Group                       
  7. Alpha ESS Co., Ltd.        
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