Industry Background:
In the Residential Energy Storage market regions such as Germany, Australia, Japan, and the US are expected to account for 71%. Asia Pacific region is aiming to be the highest market share in the residential energy storage market. The residential energy storage market in this region is mainly driven by seaborne trade, which led to an increase in demand for ships used to transport manufactured goods to various regions worldwide.This growth is primarily driven by Growing Regulatory Focus toward Minimising Carbon Emissions, Rising Concern over Climate Change and Global Movement toward Renewables.
Globally, a noticeable market trend is evident Storage-As-A-Service
. Major Manufacturers, such as LG Electronics (South Korea), Enphase Energy (United States), SolarCraft (United States), Huawei (China), Samsung SDI Co. Ltd. (South Korea), Tesla (US), LG Chem (South Korea), SMA Solar Technology (Germany), BYD (China) and Siemens (Germany) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In Apr 2019, Enphase Energy Inc. revealed that updating their storage solution with a new battery cell supplier and improved time-of-use software for customers in Australia, New Zealand, and Europe.
Market Drivers
- Growing Regulatory Focus toward Minimising Carbon Emissions
- Rising Concern over Climate Change
- Global Movement toward Renewables
Market Trend
- Storage-As-A-Service
- The rise in Smart Home Innovators
Restraints
- Price Sensitivity in Developing Countries
- Lack of Standards & Interoperability
Opportunities
Strong Opportunity in United States Due To Increasing Penetration of Solar PV Levels Along With Introduction of Supportive Policies and Energy Storage Subsidies
Challenges
Perceptions of High Prices and Lack of Standardization
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Residential Energy Storage Study Sheds Light on
The Residential Energy Storage Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Residential Energy Storage industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Residential Energy Storage industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.