The global solar energy storage market size is poised to grow by 24.32 GW during 2019-2023, according to a new report by Technavio, progressing at a CAGR of over 63% during the forecast period. Request Free Sample Pages
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191023005575/en/
Technavio has announced its latest market research report titled global solar energy storage market 2019-2023. (Graphic: Business Wire)
Read the 126-page research report with TOC on “Solar Energy Storage Market Analysis Report by end-users (commercial and industrial, utilities, and residential) and geography (the Americas, APAC, and EMEA).
The market is driven by a rise in global energy demand. Also, the increasing investments in renewable energy sources are anticipated to boost the growth of the solar energy storage market.
The global energy demand grew by over 2% in 2018, led by China and the US. Global electricity demand has also witnessed rapid growth and is expected to grow two-fold compared with global energy demand, driven by emerging economies. The digitalization of modern economies, electrification of transportation and heat sector, and growth in the number of electronically connected devices are a few factors boosting the electrification of global energy systems. The adoption of electric motor systems in industries is propelling the growth in energy demand from the industrial sector.
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
Major Five Solar Energy Storage Companies:
BYD Co. Ltd.
BYD Co. Ltd. operates under three segments, namely rechargeable batteries and photovoltaic business; mobile headset components and assemble service; and automobiles and related products. The company provides PV+ storage, which is aimed at eliminating bottlenecks in traditional PV power generation and meeting diverse market needs.
Fluence Energy LLC
Fluence Energy LLC offers battery-based solar energy storage solutions. In January 2018, the company launched a new platform, SunFlex Energy Storage, which improves and expands the capabilities of solar PV generation.
LG Chem Ltd.
LG Chem Ltd. has business operations under various segments, which include basic materials and chemicals, energy solutions, IT and electronic materials and advanced materials, and life sciences. The company provides optimal battery-based solar energy storage solutions for households using ESS that enables the use of solar power during the night and reduces electricity bills.
Panasonic Corp. operates under various categories, which include appliances, eco-solutions, connected solutions, and automotive and industrial systems, among others. The company’s key offerings include the Harbor Plus smart battery storage system and Harbor Flex smart battery storage system.
Samsung SDI Co. Ltd.
Samsung SDI Co. Ltd. has business operations under two segments, namely energy solutions and electronic material. The company offers lithium-ion battery-based ESS, which complements the intermittency of renewable energy produced by a solar power generation system to meet the various needs of users.
Register for a free trial today and gain instant access to 10,000+ market research reports. Technavio’s SUBSCRIPTION platform
Solar Energy Storage End-User Outlook (Revenue, USD Million, 2019 – 2023)
- Commercial and industrial
Solar Energy Storage Regional Outlook (Revenue, USD Million, 2019 – 2023)
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Related Reports on Utilities are:
Solar Encapsulation Market– Solar Encapsulation Market by product (crystalline silicon PV module, and thin film PV module), and geography (APAC, EMEA, and Americas).
Solar Array Disconnect Switches Market– Solar Array Disconnect Switches Market by application (utility and non-utility) and geography (Americas, APAC, and EMEA).
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.