The future of the global solar battery market looks promising with opportunities in the industrial, commercial, and residential markets. The global solar battery market is expected to reach an estimated $0.35 billion by 2030 with a CAGR of 13.5% from 2024 to 2030. The major drivers for this market are augmenting demand for renewable energy, expanding awareness of the benefits of solar batteries, and rising need to reduce carbon emissions.
Some of the key questions
answered in this exclusive report are:
Q.1. What are some of
the most promising, high-growth opportunities for the solar battery market by
type (lead acid, lithium-ion, and flow battery), end use (industrial,
commercial, and residential), and region (North America, Europe, Asia Pacific,
and the Rest of the World)?
Q.2. Which segments will
grow at a faster pace and why?
Q.3. Which region will
grow at a faster pace and why?
Q.4. What are the key
factors affecting market dynamics? What are the key challenges and business
risks in this market?
Q.5. What are the
business risks and competitive threats in this market?
Q.6. What are the
emerging trends in this market and the reasons behind them?
Q.7. What are some of
the changing demands of customers in the market?
Q.8. What are the new
developments in the market? Which companies are leading these developments?
Q.9. Who are the major
players in this market? What strategic initiatives are key players pursuing for
business growth?
Q.10. What are some of
the competing products in this market and how big of a threat do they pose for
loss of market share by material or product substitution?
Q.11. What M&A
activity has occurred in the last 5 years and what has its impact been on the
industry?
Market Segmentation:
In this market, lead
acid, lithium-ion, and flow battery are the major segments of solar battery
market by type. Lucintel forecasts that lithium-ion is expected to witness
highest growth over the forecast period as they are more durable and have a
longer lifespan than traditional lithium-ion batteries. Within this market,
industrial sector will remain the largest segment due to growing adoption of
solar batteries in this setting to reduce reliance on the grid and save money
on energy costs.
APAC is expected to witness
highest growth over the forecast period due to high demand for energy to
support economic growth, and expanding number of solar power projects in the
region.
Enersys, Exide
Industries, LG Electronics, Loom Solar, Luminous, Okaya, Panasonic, SAFT, Samsung,
and BAE Batterien are the major suppliers in the solar battery market.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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