Technavio has been monitoring the residential solar energy storage market and it is poised to grow by $26.59 bn during 2020-2024, progressing at a CAGR of about 37% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Request for Technavio's latest reports on directly and indirectly impacted markets. Market estimates include pre- and post-COVID-19 impact on the Residential Solar Energy Storage Market. Download free sample report
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. East Penn Manufacturing Co. Inc., Enphase Energy Inc., LG Chem Ltd., LG Electronics Inc., Panasonic Corp., redT energy Plc, Royal Dutch Shell Plc, Samsung SDI Co. Ltd., Sony Corp., and TOTAL SA are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The rising energy costs has been instrumental in driving the growth of the market. However, technical challenges associated with battery technology might hamper market growth.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. https://www.technavio.com/report/global-residential-solar-energy-storage-market-industry-analysis
Residential Solar Energy Storage Market 2020-2024: Segmentation
Residential Solar Energy Storage Market is segmented as below:
- Li-ion Batteries
- Lead Acid Batteries
- Geographic Landscape
- North America
- South America
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Residential Solar Energy Storage Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our residential solar energy storage market report covers the following areas:
- Residential Solar Energy Storage Market Size
- Residential Solar Energy Storage Market Trends
- Residential Solar Energy Storage Market Industry Analysis
This study identifies increasing green construction spending and zero energy home as the prime reasons driving the residential solar energy storage market growth during the next few years.
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Residential Solar Energy Storage Market 2020-2024 : Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist residential solar energy storage market growth during the next five years
- Estimation of the residential solar energy storage market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the residential solar energy storage market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of residential solar energy storage market vendors
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.
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