Renewable Battery Storage Market Analysis

The global renewable battery storage market is segmented on the basis of battery type into lithium-ion batteries, lead-acid batteries, flow batteries, and others. Amongst these segments, the lithium-ion batteries segment is anticipated to hold the largest market share throughout the forecast period and further attain a market revenue share of 5.1% by the end of 2036 by growing at a CAGR of 27.53% during the forecast period. Lithium-ion batteries are known to have high energy efficiency, long life cycle, and high energy density. Further, the lowering price of lithium-ion batteries over the years is also anticipated to contribute to the growth of the segment in the coming years. The renewable battery storage market is further segmented by element into battery and other element, out of which, the battery segment is anticipated to hold the largest market share throughout the forecast period.

On the basis of connection type, the renewable battery storage market is segmented into on-grid and off-grid connection, out of which, the on-grid connection segment is anticipated to grow with the highest CAGR of 37.66% during the forecast period. Further, the market is segmented by ownership into customer-owned, third-party owned, and utility-owned. Amongst these three segments, the customer-owned segment is projected to grab the largest market revenue of USD 998.0 Million by the end of 2021. By energy capacity, the market is segmented into below 100MWh, between 100 and 500MWh, and above 500MWh, out of which, the below 100MWh segment is projected to grow at a significant rate during the forecast period. Moreover, the market is also segmented by application into residential, commercial, and utilities, out of which, the utilities segment is anticipated to attain the largest revenue share of 3.3% by the end of 2036.

Our in-depth analysis of the global renewable battery storage market includes the following segments