Europe Batteries For Solar Energy Storage Market
Europe Batteries for Solar Energy Storage Market - By Battery Type (Lead Acid Batteries, Lithium-Ion Batteries, Flow Batteries, Others); By Connectivity (On-grid, Off-grid); By Application (Commercial, Residential, Industrial); By Country (Germany, UK, Italy, France, Spain, Netherlands, Rest of Europe), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
- Published Date: February 2023
- Report ID: BWC23106
- Available Format: PDF
- Page: 240
Report Overview
Growing focus on addressing environmental concerns, increasing adoption of electric vehicles, governments’ supportive incentives and policies, improved solar technology, and rising cost of electricity could boost the growth of the Europe Batteries for Solar Energy Storage Market during the forecast period between 2023 and 2029.
Europe Batteries for Solar Energy Storage Market - Industry Trends & Forecast Report, 2029
Europe batteries for solar energy market size was estimated at USD 562.25 million in 2022. During the forecast period between 2023 and 2029. Europe batteries for solar energy market size is projected to grow at a CAGR of 19.77% reaching a value of USD 1,979.61 million by 2029. Major factor propelling the growth of Europe batteries for solar energy market is the significant increase in demand for eco-friendly and cost-effective energy solutions for industrial and commercial energy storage. It is a highly effective way to reduce one's carbon footprint. As governments across Europe promote sustainable energy sources, the demand for solar batteries is expected to rise during the forecasted timeframe. The use of solar batteries in the residential and commercial sectors makes them energy independent and increases the owner's self-reliance. It can reduce the use of grid power in small-scale applications in residential areas. This strategy can further reduce monthly electricity bills, attracting new customers. Industry players' growing interest in renewable energy storage solutions is expected to secure new investments during the forecast timeframe.
Europe Batteries for Solar Energy Storage Market- Overview
The batteries for solar energy storage market are solar batteries. Solar batteries are commonly used to store solar energy and discharge it as needed. It is constructed of lithium-ion or lead acid. Solar batteries are rechargeable and can be used to store excess energy in solar cell systems. Solar charging stations, power plant storage, and off-grid storage systems are some of the major applications of solar batteries.
Growth Drivers
Increasing Grid Infrastructure to Create New Possibilities
The exponential demand for energy resources in both developing and developed nations, along with the expansion of policies to ensure energy security, are expected to drive market expansion. The need for new grid systems with efficient backup and peak load characteristics has increased due to developments in the rising integration of new power production technologies and renovating current foundations.
Restraints
High start-up costs could slow the market's growth.
The need for significant capital investments is the main factor limiting the growth of the battery energy storage business. These systems are mostly used in large BESS plants to meet peak energy demand. For instance, the World Bank-managed Energy Sector Management Assistance Program (ESMAP) reported that the total installed cost of various energy storage technologies can vary significantly, starting at just over USF 2,000 per kW and rising to about USD 3,300 kW, affecting the initial capital expenditures. Nevertheless, market growth during the forecast period is likely to be offset by ongoing research and development efforts to increase the battery performance features while lowering the capital needed for new systems.
Impact of COVID-19 on Europe Batteries for Solar Energy Storage Market
COVID-19 had an immediate impact on the Europe batteries for solar energy market due to social distancing norms and a labor shortage. This resulted in installation delays and the cancellation of new projects. The sharp drop in consumer spending had a significant impact on demand. Consumer spending cuts during the lockdown had a significant impact on the solar battery market for solar products, including various solar storage systems. The upstream and downstream channels have been impacted by movement restrictions, increasing inventories. However, a shift toward remote working is regarded as a critical solution for improving solar battery market conditions.
Europe Batteries for Solar Energy Storage Market
Segmental Coverage
Europe Batteries for Solar Energy Storage Market - By Battery Type
Europe batteries for solar energy storage market is divided into Lead Acid Batteries, Lithium-Ion Batteries, Flow Batteries, and Others. During the forecast period, the lithium-ion market is expected to grow at the fastest CAGR. Lithium-ion batteries have a higher depth of discharge, a longer lifespan, a higher energy density, high efficiency, and require less maintenance. Lithium-ion batteries have a longer lifespan, are lighter and self-dischargeable, and take up less space than other solar energy storage solutions. They are most commonly found in electronic components, electric vehicles, energy storage systems, and other applications.
Europe Batteries for Solar Energy Storage Market - By Connectivity
On basis of connectivity, Europe batteries for solar energy storage market is divided into On-grid and Off-grid. The ongoing introduction of BESS expansion projects by numerous large and small utility providers is expected to increase the size of the on-grid BESS market. The section situation is expected to be favored by the expanding construction of enormous electrical networks by public and private utility firms, as well as the rising investment in revolutionary grid infrastructure.
Europe Batteries for Solar Energy Storage Market - By Application
On basis of application, the Europe batteries for solar energy storage market is divided into Commercial, Residential, and Industrial. The industrial segment holds the highest market share. This is due to a high demand for additional energy storage solutions from various industrial end-users. Also, new government incentives and tax credit schemes will attract new end-users in this sector.
Europe Batteries for Solar Energy Storage Market - By Region
On basis of region, Europe batteries for solar energy storage market is divided into Germany, UK, Italy, France, Spain, Netherlands, Rest of Europe. Germany dominates the market share. Due to increased government concern about renewable energy storage in developed and developing regions across Germany. This is expected to fuel the market expansion for solar batteries.
Competitive Landscape
Europe batteries for solar energy storage market is fiercely competitive, with Solarcentury, Schneider Electric, SunPower, Soltec, Trina Solar, Canadian Solar, Aleo Solar, Ecolibrium Solar, Heliatek, Jinko Solar, LG Solar, Miasole, NEXTracker, PV Cynergy, Risen Energy, SunEdison, and Yingli Solar. The key strategies used by these market leaders are new product launches, mergers & acquisitions, and alliances. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.
Scope of the Report
Attributes |
Details |
Years Considered |
Historical Data – 2019–2022 |
Base Year – 2022 |
|
Estimated Year – 2023 |
|
Forecast Period – 2023–2029 |
|
Facts Covered |
Revenue in USD Million |
Market Coverage |
Germany, UK, Italy, France, Spain, Netherlands, Rest of Europe |
Product/ Service Segmentation |
Battery Type, Connectivity, Application, Region |
Key Players |
Solarcentury, Schneider Electric, SunPower, Soltec, Trina Solar, Canadian Solar, Aleo Solar, Ecolibrium Solar, Heliatek, Jinko Solar, LG Solar, Miasole, NEXTracker, PV Cynergy, Risen Energy, SunEdison, Yingli Solar |
By Battery Type
-
Lead Acid Batteries
-
Lithium-Ion Batteries
-
Flow Batteries
-
Others
By Connectivity
-
On-grid
-
Off-grid
By Application
-
Commercial
-
Residential
-
Industrial
By Country
-
Germany
-
UK
-
Italy
-
France
-
Spain
-
Netherlands
-
Rest of Europe
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- Europe Batteries for Solar Energy Storage Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Growing environmental concerns
- Increasing adoption of electric vehicles
- Government incentives and policies
- Restraints
- High initial cost of installation
- Limited financing options
- Opportunity
- Improved solar technology
- Rising cost of electricity
- Challenges
- Limited installation space
- Planning & permitting issues
- Growth Drivers
- Product Advancements/Recent Developments
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Europe Batteries for Solar Energy Storage Market Overview
- Market Size & Forecast, 2019–2029
- By Value (USD Million)
- Market Share & Forecast
- By Battery Type
- Lead Acid Batteries
- Lithium-Ion Batteries
- Flow Batteries
- Others
- By Connectivity
- On-grid
- Off-grid
- By Application
- Commercial
- Residential
- Industrial
- By Country
- Germany
- UK
- Italy
- France
- Spain
- The Netherlands
- Rest of Europe
- By Battery Type
- Market Size & Forecast, 2019–2029
- Germany Batteries for Solar Energy Storage Market Overview
- Market Size & Forecast, 2019–2029
- By Value (USD Million)
- Market Share & Forecast
- By Battery Type
- By Connectivity
- By Application
- Market Size & Forecast, 2019–2029
- UK Batteries for Solar Energy Storage Market Overview
- Market Size & Forecast, 2019–2029
- By Value (USD Million)
- Market Share & Forecast
- By Battery Type
- By Connectivity
- By Application
- Market Size & Forecast, 2019–2029
- Italy Batteries for Solar Energy Storage Market Overview
- Market Size & Forecast, 2019–2029
- By Value (USD Million)
- Market Share & Forecast
- By Battery Type
- By Connectivity
- By Application
- Market Size & Forecast, 2019–2029
- France Batteries for Solar Energy Storage Market Overview
- Market Size & Forecast, 2019–2029
- By Value (USD Million)
- Market Share & Forecast
- By Battery Type
- By Connectivity
- By Application
- Market Size & Forecast, 2019–2029
- Spain Batteries for Solar Energy Storage Market Overview
- Market Size & Forecast, 2019–2029
- By Value (USD Million)
- Market Share & Forecast
- By Battery Type
- By Connectivity
- By Application
- Market Size & Forecast, 2019–2029
- The Netherlands Batteries for Solar Energy Storage Market Overview
- Market Size & Forecast, 2019–2029
- By Value (USD Million)
- Market Share & Forecast
- By Battery Type
- By Connectivity
- By Application
- Market Size & Forecast, 2019–2029
- Rest of Europe Batteries for Solar Energy Storage Market Overview
- Market Size & Forecast, 2019–2029
- By Value (USD Million)
- Market Share & Forecast
- By Battery Type
- By Connectivity
- By Application
- Market Size & Forecast, 2019–2029
- Competitive Landscape
- List of Key Players and Their Offerings
- Europe Batteries for Solar Energy Storage Company Market Share Analysis, 2022
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Developments (Mergers, Acquisitions, Partnerships)
- Impact of Covid-19 on Europe Batteries for Solar Energy Storage Market
- Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- Solarcentury
- Schneider Electric
- SunPower
- Soltec
- Trina Solar
- Canadian Solar
- Aleo Solar
- Ecolibrium Solar
- Heliatek
- Jinko Solar
- LG Solar
- Miasole
- NEXTracker
- PV Cynergy
- Risen Energy
- SunEdison
- Yingli Solar
- Other Prominent Players
- Key Strategic Recommendations
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Country
- Assumptions & Limitations
- Qualitative Research
*Financial information in case of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
List of Figures
Figure 1 Europe Batteries for Solar Energy Storage Segmentation
Figure 2 Europe Batteries for Solar Energy Storage Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2022
Figure 4 Europe Batteries for Solar Energy Storage Market Size, By Value (USD Million), 2019–2029
Figure 5 Europe Batteries for Solar Energy Storage Market Share, By Battery Type, By Value, 2019–2029
Figure 6 Europe Batteries for Solar Energy Storage Market Share, By Connectivity, By Value, 2019–2029
Figure 7 Europe Batteries for Solar Energy Storage Market Share, By Application, By Value, 2019–2029
Figure 8 Europe Batteries for Solar Energy Storage Market Share, By Country, By Value, 2019–2029
Figure 9 Germany Batteries for Solar Energy Storage Market Size, By Value (USD Million), 2019–2029
Figure 10 Germany Batteries for Solar Energy Storage Market Share, By Battery Type, By Value, 2019–2029
Figure 11 Germany Batteries for Solar Energy Storage Market Share, By Connectivity, By Value, 2019–2029
Figure 12 Germany Batteries for Solar Energy Storage Market Share, By Application, By Value, 2019–2029
Figure 13 UK Batteries for Solar Energy Storage Market Size, By Value (USD Million), 2019–2029
Figure 14 UK Batteries for Solar Energy Storage Market Share, By Battery Type, By Value, 2019–2029
Figure 15 UK Batteries for Solar Energy Storage Market Share, By Connectivity, By Value, 2019–2029
Figure 16 UK Batteries for Solar Energy Storage Market Share, By Application, By Value, 2019–2029
Figure 17 Italy Batteries for Solar Energy Storage Market Size, By Value (USD Million), 2019–2029
Figure 18 Italy Batteries for Solar Energy Storage Market Share, By Battery Type, By Value, 2019–2029
Figure 19 Italy Batteries for Solar Energy Storage Market Share, By Connectivity, By Value, 2019–2029
Figure 20 Italy Batteries for Solar Energy Storage Market Share, By Application, By Value, 2019–2029
Figure 21 France Batteries for Solar Energy Storage Market Size, By Value (USD Million), 2019–2029
Figure 22 France Batteries for Solar Energy Storage Market Share, By Battery Type, By Value, 2019–2029
Figure 23 France Batteries for Solar Energy Storage Market Share, By Connectivity, By Value, 2019–2029
Figure 24 France Batteries for Solar Energy Storage Market Share, By Application, By Value, 2019–2029
Figure 25 Spain Batteries for Solar Energy Storage Market Size, By Value (USD Million), 2019–2029
Figure 26 Spain Batteries for Solar Energy Storage Market Share, By Battery Type, By Value, 2019–2029
Figure 27 Spain Batteries for Solar Energy Storage Market Share, By Connectivity, By Value, 2019–2029
Figure 28 Spain Batteries for Solar Energy Storage Market Share, By Application, By Value, 2019–2029
Figure 29 Netherlands Batteries for Solar Energy Storage Market Size, By Value (USD Million), 2019–2029
Figure 30 Netherlands Batteries for Solar Energy Storage Market Share, By Battery Type, By Value, 2019–2029
Figure 31 Netherlands Batteries for Solar Energy Storage Market Share, By Connectivity, By Value, 2019–2029
Figure 32 Netherlands Batteries for Solar Energy Storage Market Share, By Application, By Value, 2019–2029
Figure 33 Rest of Europe Batteries for Solar Energy Storage Market Size, By Value (USD Million), 2019–2029
Figure 34 Rest of Europe Batteries for Solar Energy Storage Market Share, By Battery Type, By Value, 2019–2029
Figure 35 Rest of Europe Batteries for Solar Energy Storage Market Share, By Connectivity, By Value, 2019–2029
Figure 36 Rest of Europe Batteries for Solar Energy Storage Market Share, By Application, By Value, 2019–2029
List of Tables
Table 1 Europe Batteries for Solar Energy Storage Market Size, By Value (USD Million), 2019–2029
Table 2 Europe Batteries for Solar Energy Storage Market Size, By Battery Type, By Value, 2019–2029
Table 3 Europe Batteries for Solar Energy Storage Market Size, By Connectivity, By Value, 2019–2029
Table 4 Europe Batteries for Solar Energy Storage Market Size, By Application, By Value, 2019–2029
Table 5 Europe Batteries for Solar Energy Storage Market Size, By Country, By Value, 2019–2029
Table 6 Germany Batteries for Solar Energy Storage Market Size, By Value (USD Million), 2019–2029
Table 7 Germany Batteries for Solar Energy Storage Market Size, By Battery Type, By Value, 2019–2029
Table 8 Germany Batteries for Solar Energy Storage Market Size, By Connectivity, By Value, 2019–2029
Table 9 Germany Batteries for Solar Energy Storage Market Size, By Application, By Value, 2019–2029
Table 10 UK Batteries for Solar Energy Storage Market Size, By Value (USD Million), 2019–2029
Table 11 UK Batteries for Solar Energy Storage Market Size, By Battery Type, By Value, 2019–2029
Table 12 UK Batteries for Solar Energy Storage Market Size, By Connectivity, By Value, 2019–2029
Table 13 UK Batteries for Solar Energy Storage Market Size, By Application, By Value, 2019–2029
Table 14 Italy Batteries for Solar Energy Storage Market Size, By Value (USD Million), 2019–2029
Table 15 Italy Batteries for Solar Energy Storage Market Size, By Battery Type, By Value, 2019–2029
Table 16 Italy Batteries for Solar Energy Storage Market Size, By Connectivity, By Value, 2019–2029
Table 17 Italy Batteries for Solar Energy Storage Market Size, By Application, By Value, 2019–2029
Table 18 France Batteries for Solar Energy Storage Market Size, By Value (USD Million), 2019–2029
Table 19 France Batteries for Solar Energy Storage Market Size, By Battery Type, By Value, 2019–2029
Table 20 France Batteries for Solar Energy Storage Market Size, By Connectivity, By Value, 2019–2029
Table 21 France Batteries for Solar Energy Storage Market Size, By Application, By Value, 2019–2029
Table 22 Spain Batteries for Solar Energy Storage Market Size, By Value (USD Million), 2019–2029
Table 23 Spain Batteries for Solar Energy Storage Market Size, By Battery Type, By Value, 2019–2029
Table 24 Spain Batteries for Solar Energy Storage Market Size, By Connectivity, By Value, 2019–2029
Table 25 Spain Batteries for Solar Energy Storage Market Size, By Application, By Value, 2019–2029
Table 26 Netherlands Batteries for Solar Energy Storage Market Size, By Value (USD Million), 2019–2029
Table 27 Netherlands Batteries for Solar Energy Storage Market Size, By Battery Type, By Value, 2019–2029
Table 28 Netherlands Batteries for Solar Energy Storage Market Size, By Connectivity, By Value, 2019–2029
Table 29 Netherlands Batteries for Solar Energy Storage Market Size, By Application, By Value, 2019–2029
Table 30 Rest of Europe Batteries for Solar Energy Storage Market Size, By Value (USD Million), 2019–2029
Table 31 Rest of Europe Batteries for Solar Energy Storage Market Size, By Battery Type, By Value, 2019–2029
Table 32 Rest of Europe Batteries for Solar Energy Storage Market Size, By Connectivity, By Value, 2019–2029
Table 33 Rest of Europe Batteries for Solar Energy Storage Market Size, By Application, By Value, 2019–2029
Table 34 Solarcentury Company Overview
Table 35 Solarcentury Financial Overview
Table 36 Schneider Electric Company Overview
Table 37 Schneider Electric Financial Overview
Table 38 SunPower Company Overview
Table 39 SunPower Financial Overview
Table 40 Soltec Company Overview
Table 41 Soltec Financial Overview
Table 42 Trina Solar Company Overview
Table 43 Trina Solar Financial Overview
Table 44 Canadian Solar Company Overview
Table 45 Canadian Solar Financial Overview
Table 46 Aleo Solar Company Overview
Table 47 Aleo Solar Financial Overview
Table 48 Ecolibrium Solar Company Overview
Table 49 Ecolibrium Solar Financial Overview
Table 50 Heliatek Company Overview
Table 51 Heliatek Financial Overview
Table 52 Jinko Solar Company Overview
Table 53 Jinko Solar Financial Overview
Table 54 LG Solar Company Overview
Table 55 LG Solar Financial Overview
`Table 56 Miasole Company Overview
Table 57 Miasole Financial Overview
Table 58 NEXTracker Company Overview
Table 59 NEXTracker Financial Overview
Table 60 PV Cynergy Company Overview
Table 61 PV Cynergy Financial Overview
Table 62 Risen Energy Company Overview
Table 63 Risen Energy Financial Overview
Table 64 SunEdison Company Overview
Table 65 SunEdison Financial Overview
Table 66 Yingli Solar Company Overview
Table 67 Yingli Solar Financial Overview
Market Segmentation
By Battery Type
-
Lead Acid Batteries
-
Lithium-Ion Batteries
-
Flow Batteries
-
Others
By Connectivity
-
On-grid
-
Off-grid
By Application
-
Commercial
-
Residential
-
Industrial
By Country
-
Germany
-
UK
-
Italy
-
France
-
Spain
-
Netherlands
-
Rest of Europe
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