North America Batteries for Solar Energy Storage Market Report 2022: Decline in Prices of Lithium-Ion Batteries Presents Opportunities

DUBLIN, March 27, 2023 /PRNewswire/ -- The "North America Batteries for Solar Energy Storage Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Battery Type, Application, and Connectivity" report has been added to  ResearchAndMarkets.com's offering.

The batteries for solar energy storage market in North America is expected to grow from US$ 665.88 million in 2022 to US$ 1,876.17 million by 2028; it is estimated to grow at a CAGR of 18.8% from 2022 to 2028.

With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America batteries for solar energy storage market at a substantial CAGR during the forecast period.

North America Batteries for solar energy storage market Revenue and Forecast to 2028

North America Batteries for solar energy storage market Segmentation

The North America batteries for solar energy storage market is segmented on the basis of battery type, application, connectivity, and country.

Based on battery type, the market is segmented into lead acid, lithium-ion, nickel cadmium, and others. In 2022, the lithium-ion segment held a larger share of the market. And others segment is expected to register a higher CAGR during the forecast period.

Based on application, the North America batteries for solar energy storage market is segmented into residential, commercial, and industrial. The industrial segment held the largest market share in 2022 and commercial is expected to register the highest CAGR in the market during the forecast period.

Based on connectivity, the North America batteries for solar energy storage market is segmented into on-grid and off-grid. The on-grid segment held the largest market share in 2022 and the off-grid segment is expected to register the highest CAGR in the market during the forecast period.

Based on country, the North America batteries for solar energy storage market is segmented into the US, Canada, and Mexico. In 2022, the US held a larger market share. On the other side, and it is also expected to register a higher CAGR during the forecast period.

Market Dynamics

Market Drivers

• Growing Number of Renewable and Solar Energy Projects

Market Restraints

• Higher Initial Investment in Battery Manufacturing

Market Opportunities

• Decline in Prices of Lithium-Ion Batteries

Future Trends

• Raising Awareness About Renewable Energy and Supportive Government Incentives and Regulatory Policies

Key Topics Covered:

1. Introduction

2. Key Takeaways

3. Research Methodology

4. North America Batteries for Solar Energy Storage Market Landscape

5. North America Batteries for Solar Energy Storage Market - Key Market Dynamics

6. North America Batteries for Solar Energy Storage - Market Analysis

7. North America Batteries for Solar Energy Storage Market Analysis - by Battery Type

8. North America Battery for Solar Energy Storage Market Analysis - by Application

9. North America Battery for Solar Energy Storage Market Analysis - by Connectivity

10. North America Batteries for Solar Energy Storage Market - Country Analysis

11. Industry Landscape

12. Company Profiles

13. Appendix

A selection of companies mentioned in this report includes

• BYD Company Ltd
• EnerSys
• LECLANCHE
• LG Electronics
• Samsung SDI Co., Ltd.
• Kokam
• SimpliPhi Power
• Sonnen Group
• Alpha ESS Co., Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/yaexw0

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]   

For E.S.T Office Hours Call +1-917-300-0470 
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716 

Logo:  https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg 

SOURCE Research and Markets