Dublin, Aug. 10, 2023 (GLOBE NEWSWIRE) -- The "Solar Batteries - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global solar batteries market is experiencing significant growth, driven by increasing demand for renewable energy sources and a shift towards sustainable practices.
Key geographic regions, such as the USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, the Middle East, and Africa, are witnessing rising adoption of solar batteries.
The market analysis covers various battery technologies, including lithium-ion, lead-acid, and other battery technologies, with a focus on different capacity ranges. The USA, Japan, China, and Europe are among the prominent players in the solar batteries market.
Factors like technological advancements, government incentives, and environmental awareness are contributing to the expansion of this market. As the world progresses towards a greener future, solar batteries are expected to play a crucial role in energy storage and the continued growth of renewable energy sources.
Global Solar Batteries Market to Reach $442.2 Million by 2030
In the changed post COVID-19 business landscape, the global market for Solar Batteries estimated at US$172.1 Million in the year 2022, is projected to reach a revised size of US$442.2 Million by 2030, growing at a CAGR of 12.5% over the analysis period 2022-2030.
Lithium-Ion, one of the segments analyzed in the report, is projected to record 13.8% CAGR and reach US$202.1 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Lead-Acid segment is readjusted to a revised 13.2% CAGR for the next 8-year period.
The U.S. Market is Estimated at $46.3 Million, While China is Forecast to Grow at 16.8% CAGR
The Solar Batteries market in the U.S. is estimated at US$46.3 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$103.8 Million by the year 2030 trailing a CAGR of 16.8% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.3% and 10.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 10% CAGR.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
A selection of companies mentioned in this report includes
- ABB Ltd.
- ABB S.p.A
- Ahorrosolar SL
- Artesyn Embedded Power
- BAE Batterien GmbH
- Battery Energy Power Solutions Pty
- Battery Wholesale of Toledo, Inc.
- Battery-Biz Inc.
- BatteryDukaan
- BELECTRIC Solar & Battery GmbH
For more information about this report visit https://www.researchandmarkets.com/r/9pztpp
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