Report Highlights
The global market for residential energy storage systems (RESSs) should grow from $3.0 billion in 2018 to $11.2 billion by 2023 at a compound annual growth rate (CAGR) of 30.0% for the period of 2018-2023.
Report Includes
- 45 data tables
- A comprehensive overview of the global market for residential energy storage, blockchain and energy sharing systems
- Analyses of global market trends, with data from 2017 to 2018, and projections of compound annual growth rates (CAGRs) through 2023
- Characterization and quantification of market potential for residential energy storage market by product offerings, storage types, applications, end user industries and major geographies
- Assess current market trends and technological updates along with the factors influencing the growth of residential energy storage market
- A relevant patent analysis
- Profiles of top market players within the industry including ACME Cleantech Solutions Pvt. Ltd., BMW Group, DMS Technologies, Exide Technologies GmbH and LG Chem Ltd.
Report Scope
The scope of this market study includes the leading residential energy storage systems technologies that are currently in use globally. Residential home battery technologies are used across a number of industries and applications, such as automotive, renewable energy and telecommunications. The technologies discussed in this report are in use across the industries mentioned above and many more as well, as new sectors driven by product and technological innovation emerge.
The market analysis provided in this report is based on a variety of data sources. These include the most recent government, industry, academic and company data regarding the projected level of demand for residential energy storage systems technologies. This report quantifies battery storage technologies used in residential, including battery storage electrochemistries (e.g., lithium-ion and lead-acid) and all-in-one battery pack storage units (battery, inverter charger and battery management software) for residential electricity storage, as well as RES units that can share stored electricity. It does not include other components such as solar panels and charge controllers. Therefore, this report provides a comprehensive review of available data to provide a realistic and accurate assessment of this evolving market.
BCC Research analyzes each major residential energy storage systems technology, determines its current market status, examines its impact on future markets, and presents forecasts of growth over the next five years. Estimated values used are based on manufacturer’s total revenues. Projected and forecast revenue values are in constant US dollars, unadjusted for inflation. Technological issues, including the latest trends, are assessed and discussed, as are the current and likely-to-appear regulatory environments in support of this industry.
BCC Research analyzes the industry on a worldwide basis in terms of its manufacturing and use of residential energy storage systems. BCC Research examines government roles in support of residential energy storage systems technologies worldwide, including regulatory support and government requirements, for residential energy storage systems technologies. The report provides a review of the most relevant residential energy storage systems, discusses recent trends and sales, and provides industry overviews and market assessments for leading residential energy storage systems.
Analyst Credentials
Christopher Maara holds a Master's degree in Finance and Development (Msc) from University of London's School of Oriental and African Studies (SOAS), and has been a Country Risk, Energy Markets and Lead Analyst with London-based Business Monitor International (BMI) and Visiongain Limited, as well with Investment & Research Ltd based in Nairobi. He is also the Founder and Business Development Manager for Kiri Energy Limited, a renewable energy company based in Nairobi, Kenya, where he has worked on a number small-scale, mini-hydro and solar projects in Kenya involving system design and installation.
Related Reports
The Global Market for Distributed Energy Generation
The global market for distributed energy generation is estimated to increase from $141.3 billion in 2023 to reach $241.6 billion by 2028 with a compound annual growth rate (CAGR) of 11.3% during the forecast period of 2023-2028.
Power Optimizers: Global Market Outlook
This report provides an in-depth assessment of the global market for power optimizers. It includes the market size estimation and forecast, and a detailed analysis of the market player’s products and strategies. The report also covers market projections through 2027, while the revenue forecasts are segmented based on the connectivity type, application, end use, and region.
Building-Integrated Photovoltaics (BIPV): Technologies and Global Markets
The global market for building-integrated photovoltaics (BIPVs) is estimated to increase from $12.4 billion in 2022 to reach $34.8 billion by 2027, at a compound annual growth rate (CAGR) of 22.9% from 2022 through 2027.
Microinverters: Global Markets
The global market for microinverters is estimated to increase from $3.7 billion in 2022 to reach $8.1 billion by 2027, at a compound annual growth rate (CAGR) of 17.3% from 2022 through 2027.
Recent Reports
Sodium-ion Batteries: Materials, Technologies and Global Markets to 2029
The global market for sodium-ion batteries (SIB) is estimated to increase from $318.0 million in 2023 to reach $838.5 million by 2029, at a compound annual growth rate (CAGR) of 18.6% from 2024 through 2029.
Electric Vehicles and Fuel Cell Vehicles: Global Markets
The global market for electric vehicles and fuel cell vehicles was valued at $655.9 billion in 2023. The market is expected to grow from $758.0 billion in 2024 to $1.8 trillion by 2029, at a compound annual growth rate (CAGR) of 18.6% from 2024 to 2029.
Global Market for PEM Electrolyzer
The global market for proton exchange membrane (PEM) electrolyzer was valued at $60.2 million in 2023. The market is expected to grow from $83.7 million in 2024 to $507.6 million by 2029, at a compound annual growth rate (CAGR) of 43.4% from 2024 to 2029.
Solid State Batteries: Global Markets
The global market for solid state batteries is estimated to increase from $274.0 million in 2023 to reach $1.7 billion by 2029, at a compound annual growth rate (CAGR) of 36.7% from 2024 through 2029.
E-Bike: Global Markets
The global market for e-bikes is expected to grow from $44.9 billion in 2023 and projected to reach $77.6 billion by the end of 2028, at a compound annual growth rate (CAGR) of 11.6% from 2023 through 2028.
Top Trending Reports
Point-of-Care Diagnostics: Technologies and Global Markets
The global market for point-of-care diagnostics was valued at $36.9 billion in 2023. It is expected to grow from $40.6 billion in 2024 to $65.9 billion by the end of 2029, at a compound annual growth rate (CAGR) of 10.2% from 2024 through 2029.
AI in Clinical and Molecular Diagnostics Market
The global market for AI in clinical and molecular diagnostics is expected to grow from $2.6 billion in 2024 and is projected to reach $8.9 billion by the end of 2029, at a compound annual growth rate (CAGR) of 27.6% during the forecast period of 2024 to 2029.
Medical Devices: Technologies and Global Markets
The global market for medical devices reached $739.6 billion in 2023. It is expected to grow from $810.4 billion in 2024 to $1.3 trillion by the end of 2029, at a compound annual growth rate (CAGR) of 9.8% from 2024 through 2029.
Global Artificial Intelligence (AI) Market: Investments vs Potential
The global market for artificial intelligence (AI) is estimated to increase from $148.8 billion in 2023 to reach $1.1 trillion by 2029, at a compound annual growth rate (CAGR) of 39.7% from 2024 through 2029.
Global Oncology Pharmaceuticals Market
The global market for oncology pharmaceuticals is estimated to increase from $196.4 billion in 2023 to reach $401.4 billion by 2029, at a compound annual growth rate (CAGR) of 12.7% from 2024 through 2029.
Become A Member
BCC Research offers a comprehensive library of reports, granting members unlimited access to data, insights, and market intelligence for informed business decisions, while actively supporting members in their evolving journeys and prioritizing high-quality, relevant topics based on continuous engagement with the research community.
Find Out MoreCustom Consulting
BCC Research emphasizes the importance of organizations leveraging highly customized market insights aligned with specific strategic business objectives through direct engagement with primary sources and proprietary forecasting models for profitable decision-making in maximizing growth opportunities and minimizing risks.
Customize NowScorecard
The Venture Scorecard provides commercialization offices and decision makers with expert analysis, offering strategic insights crucial for aligning objectives with market realities at various stages of commercializing new products or evaluating investment opportunities, from opportunity assessment to growth planning.
Find Out MoreInnovation Spotlight
Our industry experts offer strategic guidance to maximize the market potential of commercialized products, patents, and IP by providing insights into market trends, competitive dynamics, and effective positioning, using the Innovation Spotlight service for enhanced exposure to thought leaders and the wider community.
Find Out More