Report Overview

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

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

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Europe Batteries for Solar Energy Storage Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Growing environmental concerns
         2. Increasing adoption of electric vehicles
         3. Government incentives and policies
      2. Restraints
         1. High initial cost of installation
         2. Limited financing options
      3. Opportunity
         1. Improved solar technology
         2. Rising cost of electricity
      4. Challenges
         1. Limited installation space
         2. Planning & permitting issues
   3. Product Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Europe Batteries for Solar Energy Storage Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Battery Type
         1. Lead Acid Batteries
         2. Lithium-Ion Batteries
         3. Flow Batteries
         4. Others
      2. By Connectivity
         1. On-grid
         2. Off-grid
      3. By Application
         1. Commercial
         2. Residential
         3. Industrial
      4. By Country
         1. Germany
         2. UK
         3. Italy
         4. France
         5. Spain
         6. The Netherlands
         7. Rest of Europe
5. Germany Batteries for Solar Energy Storage Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Battery Type
      2. By Connectivity
      3. By Application
6. UK Batteries for Solar Energy Storage Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Battery Type
      2. By Connectivity
      3. By Application
7. Italy Batteries for Solar Energy Storage Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Battery Type
      2. By Connectivity
      3. By Application
8. France Batteries for Solar Energy Storage Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Battery Type
      2. By Connectivity
      3. By Application
9. Spain Batteries for Solar Energy Storage Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Battery Type
      2. By Connectivity
      3. By Application
10. The Netherlands Batteries for Solar Energy Storage Market Overview
    1. Market Size & Forecast, 2019–2029
       1. By Value (USD Million)
    2. Market Share & Forecast
       1. By Battery Type
       2. By Connectivity
       3. By Application
11. Rest of Europe Batteries for Solar Energy Storage Market Overview
    1. Market Size & Forecast, 2019–2029
       1. By Value (USD Million)
    2. Market Share & Forecast
       1. By Battery Type
       2. By Connectivity
       3. By Application
12. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Europe Batteries for Solar Energy Storage Company Market Share Analysis, 2022
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
13. Impact of Covid-19 on Europe Batteries for Solar Energy Storage Market
14. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. Solarcentury
    2. Schneider Electric
    3. SunPower
    4. Soltec
    5. Trina Solar
    6. Canadian Solar
    7. Aleo Solar
    8. Ecolibrium Solar
    9. Heliatek
    10. Jinko Solar
    11. LG Solar
    12. Miasole
    13. NEXTracker
    14. PV Cynergy
    15. Risen Energy
    16. SunEdison
    17. Yingli Solar
    18. Other Prominent Players
15. Key Strategic Recommendations
16. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
       1. Secondary Research
       2. Primary Research
    4. Breakdown of Primary Research Respondents, By Country
    5. Assumptions & Limitations

*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