1. Market Research
  2. > Energy & Environment
  3. > Energy
  4. > Electric Power
  5. > Energy Storage
  6. > Battery Market Trends
Residential Battery Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Residential Battery Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • June 2021
  • 189 pages
  • ID: 6036752
  • Format: PDF
  • Mordor Intelligence LLP
Up to $750 off Until Jul 31st 2021


Table of Contents

Search Inside

The global residential battery market was valued at USD 9.87 billion in 2020, and it is anticipated to reach USD 23.03 billion by 2026, at a CAGR of 15.84% during 2021-2026. The COVID-19 pandemic is expected to moderately impact the market due to the decrease in electricity consumption from industrial & commercial sectors and the reduction in the economic growth of the world. The negative growth is more prominent in many of the major economies of the world such as the United Kingdom, United States, and India which are also among the largest user of residential batteries. This is expected to directly impact the market in the coming years. On the other side - the residential battery market is likely to grow in the coming years, owing to the increasing deployment of solar power generation and the rising need for energy storage solutions in the residential sector across the world. The steady improvement of battery performance achieved through sustained R&D, aimed at improving battery materials, reducing the amount of non-active materials and the cost of materials, improving cell design and production yield, and increasing production speed.? Therefore, the decline in lithium-ion battery prices is expected to drive the market over the forecast period. However, factors such as complexity, short life span, and failure due to deep and continuous cycling, etc. are hindering the growth of the market.

- Lithium-ion batteries is expected to dominate the market majorly due to their favorable capacity-to-weight ratio and other factors like declining prices, better performance etc.
- The rising use of energy storage systems is expected to create immense opportunities for the residential battery market especially with the increasing usage of distributed renewable energies.
- Asia-Pacific is expected to dominate the market with the majority of the demand coming from the countries such as China and India.

Key Market Trends
Lithium-ion Battery to Witness the Highest Market Demand Growth

- Among different types of battery technology, lithium-ion battery (LIB) is expected to dominate the residential battery market majorly due to its capacity-to-weight ratio and other factors like better performance, high energy density, and decreasing price.
- In 2020, lithium-ion battery price was around USD 137/kWh, 79.5% lower than the price in 2010. Lithium-ion battery prices are falling continuously and are down by 12.7% in 2020 from 2019 levels.
- The price of LIB is usually high, as compared to other batteries. Also, leading players in the market have been investing, in order to gain economies of scale and in R&D activities, to improve LIB’s performance and price.
- Lithium-ion batteries find application in a wide range of consumer goods, like smartphones, wearables, laptops, digital cameras, remote controls and gaming devices. Lithium-ion batteries are safer and have higher capacity power packs and are more economical than other alternatives for long-term use.
- Therefore, the emergence of new and exciting markets such as electric vehicle and energy storage systems (ESS), for both commercial and residential applications, is expected to boost the demand for lithium-ion battery during the forecast period.

Asia-Pacific to Dominate the Market

- Asia-Pacific has multiple growing economies with substantial natural as well as human resources. The region holds the majority share in terms of revenue, with China and India being the major contributors. These countries are likely to exhibit immense growth potential during the forecast period.
- The Chinese residential battery market is expected to grow during the forecast period, led by the government’s policy and regulatory support. The Chinese government has already shown its ability to stimulate high growth in domestic demand for solar-related equipment, through subsidies and installation targets.
- Also, China is home to some of the major battery manufacturing companies, such as BYD and Amperex Technology, and these companies benefit because of preferential domestic treatments over their Japanese and Korean competitors.? The country aims at further developing its domestics battery manufacturing sector. The country already dominates the lithium-ion battery supply chain and controls 80% of the world’s raw material refining, 77% of the world’s cell capacity, and 60% of the world’s component manufacturing.
- Another important country in the region is India, which accounts for the fifth largest power generation capacity in the world, with an installed capacity of 36.9 GW as November 2020. India is the third largest power producer, with a production of 1,558 TWh. However, India faces power outages, and the Indian government has aimed to supply electricity 24 hours a day, by making a significant addition of renewable energy generation capacity, including rooftop solar power, which is likely to increase the demand for residential batteries. Although new energy addition witnessed a slowdown in 2020 and is expected to witness a slowdown during the initial years of the forecast period due to the outbreak of COVID-19, the market is expected to witness significant growth during the latter parts of the forecast period.
- Asia-Pacific is home to the fastest urbanising countries and this, in turn, is likely to create an significant demand for residential battery for a wide range of applications including consumer electronics, back-up power supply systems, and electric vehicles.

Competitive Landscape
The residential battery market is fragmented. Some of the major companies in the market include FIMER SpA, Amara Raja Batteries Ltd, Samsung SDI, NEC Corp., and LG Chem Ltd.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
10% Off


  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Thin Film and Printed Battery Market with COVID-19 Impact, by Type, Voltage, Capacity, Rechargeability, Application And Geography - Global Forecast to 2025

  • $ 4950
  • December 2020
  • 204 pages

The global thin film and printed battery market size is projected to grow from USD 98 million in 2020 to USD 296 million by 2025; it is expected to grow at a CAGR of 24.7% from 2020 to 2025. The growth ...

  • World
  • North America
  • Battery
  • Industry analysis
  • Battery Production
  • Greenhouse Gas Emissions


Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on