Global Residential Battery Market by Type and Geography – Forecast to 2023 –


DUBLIN–()–The “Global Residential Battery Market – Analysis by Type, and Geography – Growth, Trends, and Forecast (2018 – 2023)” report has been added to's offering.

The residential battery market is likely to grow in the near future, owing to increasing deployment of solar power generation, and rising need for energy storage solutions in residential sector across the world.
In addition, the increasing energy demand-supply gap and the growing disposable income, primarily in South America and Asia-Pacific, is expected to increase the adoption of residential battery.
The decline in price of lithium-ion batteries stimulated by technological advancements have resulted in increasing usage of battery storage solutions in the residential sector.

Decline in Lithium-ion Prices to Drive the Market

Manufacturers are focusing on reducing the cost of lithium-ion technology. The price of lithium-ion batteries has fallen steeply in the past 10 years. In 2016, lithium-ion battery price was USD 273 per kWh, 73% lower than the price in 2010. Lithium-ion battery prices are falling continuously and are down by 24% in 2017 from 2016 levels; it has witnessed 80% drop since 2010. The average lithium-ion battery pack price is down to USD 209/kWh, and the prices are expected to fall below USD 100/kWh by 2025.

Moreover, lithium-ion is growing at a fast pace, due to its better performance, higher energy density, and decreasing price. The price of lithium-ion batteries is usually high compared to other batteries. However, leading players in the market have been investing in mass production capacity to achieve economies of scale and R&D activities to improve their performance and prices.

This sharp and sustained cost reduction is expected to help in adoption of lithium-ion as the battery chemistry of choice in residential energy storage market during the forecast period.

Companies Featured
  • ABB Ltd.
  • LG Chem Ltd.
  • Panasonic Corporation
  • Samsung SDI
  • Siemens AG
  • Luminous Power Technologies
  • Amara Raja Batteries Ltd.
  • Hitachi Ltd.
  • NEC Corp.
  • Tesla Inc.

Key Topics Covered

1. Executive Summary

2. Research Methodology

3. Market Overview

4. Market Dynamics

5. Value Chain Analysis

6. Industry Attractiveness – Porter's Five Forces Analysis

7. Market Segmentation and Analysis

8. Regional Market Analysis

9. Key Company Analysis

10. Competitive Landscape