Solar Battery Market Share

Asia Pacific Market Forecast

Asia Pacific solar battery market is set to capture revenue share of over 33.6% by 2037. The swift industrial activities, increasing popularity of smart home systems, and tax benefits on cleaner energy use are augmenting the sales of solar batteries in the region. India, China, Japan, and South Korea are some of the high-earning marketplaces in Asia Pacific.

In India, the increasing investments in the solar grid infrastructure are positively boosting the sales of solar batteries. For instance, according to the India Brand Equity report, in the interim budget 2024-2025, the fiscal allocation for solar grid infrastructure development increased to USD 1.02 billion compared to previous years which was USD 600 million. Furthermore, the country’s installed renewable energy capacity is set to rise to around 170 GW in March 2025 from 136.57 GW by December 2023. Such aspects are generating high-potential opportunities for solar battery producers.

China’s net-zero carbon emission goals are driving the demand for renewable energy sources including solar energy systems. The government is offering supportive policies in the form of subsidies to encourage solar panel and battery adoption. Financial incentives, tax credits, and schemes are appealing to individuals to invest in clean energy production and storage systems, contributing to the overall market growth.

Europe Market Statistics

By the end of 2037, Asia Pacific solar battery market is projected to hold over 25.8% revenue share. The high investments in renewable energy sources to comply with carbon emission regulations and initiatives are significantly fueling the sales of solar batteries in Europe. For instance, according to the SolarPower Europe analysis, in 2023, the region installed 17.2 GWh of new battery energy storage systems, a 94% rise compared to the previous year. The residential sector accounted for a major 63% of this capacity. These statistics underscore how profitable is the Europe solar battery market for solar battery producers. 

Germany’s strong commitment towards Energiewende is creating a favorable environment for solar energy and storage system market players. To comply with the Carbon neutrality by 2045 initiatives, the country is also pushing the adoption of solar energy and battery systems by offering several tax benefits.

In Italy, the current energy crisis is boosting the clean energy transition to enhance energy security in the country. The government is investing heavily in solar PV to enhance the energy supply. For instance, the total battery storage capacity in Italy reached 3.7 GWh (+86%) in 2023. Thus, the increasing adoption of solar panels in the country is directly influencing the demand for energy storage systems such as solar batteries.