Global Residential Battery Energy Storage Market 2022-2028
Battery storage, or battery energy storage systems (BESS), are devices that enable energy from renewables, like solar and wind, to be stored and then released when customers need power most. Projected to expand at a CAGR of 8.8% from 2022 to 2028, the global residential battery energy storage market will worth USD 6,277 million by 2028-end, according to Gen Consulting Company.
The report provides in-depth analysis and insights regarding the current global market scenario, latest trends and drivers into global residential battery energy storage market. It offers an exclusive insight into various details such as market size, key trends, competitive landscape, growth rate and market segments. This study also provides an analysis of the impact of the COVID-19 crisis on the residential battery energy storage industry.
This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the battery technology, application, and region. The global market for residential battery energy storage can be segmented by battery technology: lead-acid, lithium-ion, others. The lithium-ion segment captured the largest share of the market in 2021. Residential battery energy storage market is further segmented by application: rooftop photovoltaics (RTPV), back-up power, electric vehicle charging, others. Based on region, the residential battery energy storage market is segmented into: North America, Asia Pacific, Europe, Rest of the World (ROW).
By battery technology:
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