1	INTRODUCTION	40
1.1	STUDY OBJECTIVES	40
1.2	MARKET DEFINITION	41
1.3	INCLUSIONS AND EXCLUSIONS	41
1.4	STUDY SCOPE	42
1.4.1	RESIDENTIAL ENERGY STORAGE MARKET SEGMENTATION	42
1.4.2	REGIONAL SCOPE	43
1.4.3	YEARS CONSIDERED	43
1.5	CURRENCY CONSIDERED	44
1.6	LIMITATIONS	44
1.7	STAKEHOLDERS	44
1.8	SUMMARY OF CHANGES	45
2	RESEARCH METHODOLOGY	46
2.1	RESEARCH DATA	46
FIGURE 1	RESIDENTIAL ENERGY STORAGE MARKET: RESEARCH DESIGN	46
2.2	MARKET BREAKDOWN AND DATA TRIANGULATION	47
FIGURE 2	DATA TRIANGULATION METHODOLOGY	47
2.2.1	SECONDARY DATA	48
2.2.1.1	Key data from secondary sources	48
2.2.2	PRIMARY DATA	48
2.2.2.1	Key data from primary sources	49
2.2.2.2	Breakdown of primaries	49
FIGURE 3	BREAKDOWN OF PRIMARIES: BY COMPANY, DESIGNATION, AND REGION	50
2.3	MARKET SIZE ESTIMATION	50
2.3.1	BOTTOM-UP APPROACH	50
FIGURE 4	RESIDENTIAL ENERGY STORAGE MARKET: BOTTOM-UP APPROACH	51
2.3.2	TOP-DOWN APPROACH	51
FIGURE 5	RESIDENTIAL ENERGY STORAGE MARKET: TOP-DOWN APPROACH	51
2.3.3	DEMAND-SIDE METRICS	52
FIGURE 6	RESIDENTIAL ENERGY STORAGE MARKET: DEMAND-SIDE ANALYSIS	52
FIGURE 7	METRICS CONSIDERED FOR ANALYZING AND ASSESSING DEMAND FOR RESIDENTIAL ENERGY STORAGE SYSTEMS	52
2.3.3.1	Assumptions for demand-side analysis	53
2.3.3.2	Calculations	53
2.3.4	SUPPLY-SIDE ANALYSIS	54
FIGURE 8	KEY METRICS CONSIDERED FOR ASSESSING SUPPLY OF RESIDENTIAL ENERGY STORAGE	54
FIGURE 9	RESIDENTIAL ENERGY STORAGE MARKET: SUPPLY-SIDE ANALYSIS	55
2.3.4.1	Assumptions and calculations	55
FIGURE 10	COMPANY REVENUE ANALYSIS, 2022	56
2.3.5	FORECAST	56
3	EXECUTIVE SUMMARY	57
TABLE 1	RESIDENTIAL ENERGY STORAGE MARKET SNAPSHOT	57
FIGURE 11	6 TO <10 KW SEGMENT TO ACCOUNT FOR LARGEST SHARE OF RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING, THROUGHOUT FORECAST PERIOD	58
FIGURE 12	LITHIUM-ION BATTERY-POWERED RESIDENTIAL ENERGY STORAGE SYSTEMS TO DOMINATE MARKET THROUGHOUT FORECAST PERIOD	59
FIGURE 13	CUSTOMER-OWNED SEGMENT TO LEAD RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE, DURING FORECAST PERIOD	59
FIGURE 14	SOLAR AND STORAGE SYSTEMS SEGMENT TO ACCOUNT FOR LARGER  MARKET SHARE	60
FIGURE 15	ON-GRID RESIDENTIAL ENERGY STORAGE SYSTEMS TO CAPTURE LARGER MARKET SHARE	60
FIGURE 16	EUROPE DOMINATED RESIDENTIAL ENERGY STORAGE MARKET IN 2022	61
4	PREMIUM INSIGHTS	62
4.1	ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN RESIDENTIAL ENERGY STORAGE MARKET	62
FIGURE 17	DECLINING COSTS OF LITHIUM-ION BATTERIES TO DRIVE RESIDENTIAL ENERGY STORAGE MARKET GROWTH IN COMING YEARS	62
4.2	RESIDENTIAL ENERGY STORAGE MARKET, BY REGION	63
FIGURE 18	NORTH AMERICA TO WITNESS HIGHEST GROWTH IN RESIDENTIAL ENERGY STORAGE MARKET DURING FORECAST PERIOD	63
4.3	RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING	63
FIGURE 19	6 TO <10 KW SEGMENT DOMINATED RESIDENTIAL ENERGY STORAGE  MARKET IN 2022	63
4.4	RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE	64
FIGURE 20	CUSTOMER-OWNED RESIDENTIAL ENERGY STORAGE SYSTEMS HELD LARGEST MARKET SHARE IN 2022	64
4.5	RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE	64
FIGURE 21	ON-GRID SEGMENT ACCOUNTED FOR LARGER MARKET SHARE IN 2022	64
4.6	RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY	65
FIGURE 22	LITHIUM-ION TECHNOLOGY ACCOUNTED FOR LARGER MARKET SHARE IN 2022	65
4.7	RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE	65
FIGURE 23	SOLAR AND STORAGE SYSTEMS HELD LARGER MARKET  SHARE IN 2022	65
5	MARKET OVERVIEW	66
5.1	INTRODUCTION	66
5.2	MARKET DYNAMICS	67
FIGURE 24	RESIDENTIAL ENERGY STORAGE MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES	67
5.2.1	DRIVERS	67
5.2.1.1	Government initiatives pertaining to energy storage projects	67
5.2.1.2	Significant demand for electric vehicles	68
FIGURE 25	GLOBAL ELECTRIC VEHICLE SALES AND MARKET SHARE, 2020–2022	68
5.2.1.3	Increased investments in R&D of lithium-ion batteries	69
FIGURE 26	DECLINING COST OF LITHIUM-ION BATTERIES (2013–2021)	70
5.2.2	RESTRAINTS	70
5.2.2.1	Lack of battery disposal and recycling standards	70
5.2.2.2	High initial investment	70
TABLE 2	COST OF RESIDENTIAL ENERGY STORAGE SYSTEMS OFFERED BY KEY PLAYERS	71
5.2.3	OPPORTUNITIES	71
5.2.3.1	Rising demand for grid energy storage systems	71
5.2.3.2	Increasing installation of solar PV modules	71
FIGURE 27	SOLAR PV INSTALLATION, BY GEOGRAPHY, 2019–2021	72
5.2.4	CHALLENGES	72
5.2.4.1	Safety concerns for lithium-ion batteries	72
5.2.4.2	Aging of lithium-ion batteries	72
5.3	TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES	73
5.3.1	REVENUE SHIFT AND NEW REVENUE POCKETS FOR RESIDENTIAL ENERGY STORAGE SYSTEM PROVIDERS	73
FIGURE 28	NEW REVENUE POCKETS FOR PROVIDERS OF RESIDENTIAL ENERGY STORAGE SYSTEMS	73
5.4	SUPPLY CHAIN ANALYSIS	74
FIGURE 29	RESIDENTIAL ENERGY STORAGE MARKET: SUPPLY CHAIN ANALYSIS	74
5.4.1	RAW MATERIAL SUPPLIERS	74
5.4.2	BATTERY MANUFACTURERS	74
5.4.3	SOFTWARE SUPPLIERS	74
5.4.4	ENERGY STORAGE SYSTEM SUPPLIERS	74
5.5	ECOSYSTEM ANALYSIS	75
TABLE 3	RESIDENTIAL ENERGY STORAGE MARKET: ECOSYSTEM	75
5.6	TRADE ANALYSIS	76
TABLE 4	IMPORT SCENARIO FOR HS CODE 850650, BY COUNTRY, 2020–2022 (USD)	76
FIGURE 30	IMPORT DATA FOR TOP FIVE COUNTRIES, 2018–2022 (USD THOUSAND)	76
TABLE 5	EXPORT SCENARIO FOR HS CODE 850650, BY COUNTRY, 2020–2022 (USD)	77
FIGURE 31	EXPORT DATA FOR TOP FIVE COUNTRIES, 2018–2022 (USD THOUSAND)	77
5.7	MARKET MAP	78
FIGURE 32	RESIDENTIAL ENERGY STORAGE: MARKET MAP	78
5.8	TECHNOLOGY ANALYSIS	78
5.8.1	LITHIUM-ION	78
5.8.2	LEAD-ACID	79
5.8.3	TECHNOLOGICAL ADVANCEMENTS	79
5.9	KEY CONFERENCES AND EVENTS, 2022–2023	80
TABLE 6	RESIDENTIAL ENERGY STORAGE MARKET: LIST OF CONFERENCES AND EVENTS	80
5.10	PATENT ANALYSIS	81
5.10.1	LIST OF MAJOR PATENTS	81
TABLE 7	RESIDENTIAL ENERGY STORAGE SYSTEMS: INNOVATIONS AND PATENT REGISTRATIONS, JUNE 2020–JUNE 2023	81
5.11	PRICING ANALYSIS	83
5.11.1	AVERAGE SELLING PRICE OF ENERGY STORAGE SYSTEMS OFFERED BY KEY PLAYERS, BY POWER RATING	83
5.11.2	AVERAGE SELLING PRICE TREND	83
FIGURE 33	COST OF RESIDENTIAL ENERGY STORAGE SYSTEMS, 2019–2021	83
5.12	TARIFF AND REGULATORY LANDSCAPE	84
5.12.1	REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	84
TABLE 8	NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS	84
TABLE 9	EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS	84
TABLE 10	ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS	85
TABLE 11	GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS	85
5.12.2	STANDARDS AND REGULATIONS	85
TABLE 12	RESIDENTIAL ENERGY STORAGE MARKET: STANDARDS AND REGULATIONS	85
5.13	CASE STUDY ANALYSIS	87
5.13.1	CMEEC AIMS TO ENERGIZE CUSTOMERS AND ENSURE COMMUNITY PROSPERITY BY PROVIDING LOWER-COST ENERGY SOLUTIONS	87
5.13.1.1	Problem statement	87
5.13.1.2	Solution	87
5.13.2	BYD COMPANY LTD. LAUNCHED NEW BATTERY BOX SYSTEM COMPATIBLE WITH ALL PV SOLAR INVERTERS	87
5.13.2.1	Problem statement	87
5.13.2.2	Solution	87
5.13.3	E3/DC FULFILLED DEMAND OF HOMEOWNER WHO WANTED TO ACHIEVE 80% OF ENERGY SELF-SUFFICIENCY WITH SOLAR POWER	87
5.13.3.1	Problem statement	87
5.13.3.2	Solution	88
5.14	PORTER’S FIVE FORCES ANALYSIS	88
FIGURE 34	RESIDENTIAL ENERGY STORAGE MARKET: PORTER’S FIVE FORCES ANALYSIS	88
TABLE 13	RESIDENTIAL ENERGY STORAGE MARKET: PORTER’S FIVE FORCES ANALYSIS	89
5.14.1	THREAT OF NEW ENTRANTS	89
5.14.2	BARGAINING POWER OF BUYERS	89
5.14.3	BARGAINING POWER OF SUPPLIERS	89
5.14.4	THREAT OF SUBSTITUTES	90
5.14.5	INTENSITY OF COMPETITIVE RIVALRY	90
5.15	KEY STAKEHOLDERS AND BUYING CRITERIA	90
5.15.1	KEY STAKEHOLDERS IN BUYING PROCESS	90
FIGURE 35	INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY TECHNOLOGY	90
TABLE 14	INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS OF TOP 2 TECHNOLOGIES (%)	91
5.15.2	BUYING CRITERIA	91
FIGURE 36	KEY BUYING CRITERIA FOR TOP TECHNOLOGY-BASED RESIDENTIAL ENERGY STORAGE SYSTEMS	91
TABLE 15	KEY BUYING CRITERIA, BY TECHNOLOGY	91
6	RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY	92
6.1	INTRODUCTION	93
FIGURE 37	RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2022	93
TABLE 16	RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD MILLION)	93
TABLE 17	RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION)	93
6.2	LITHIUM-ION	94
6.2.1	HIGHER ENERGY DENSITY TO DRIVE GROWTH	94
TABLE 18	LITHIUM-ION: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION,  2018–2022 (USD MILLION)	94
TABLE 19	LITHIUM-ION: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION,  2023–2028 (USD MILLION)	95
6.3	LEAD-ACID	95
6.3.1	LONG LIFESPAN OF LEAD-ACID BATTERIES TO DRIVE GROWTH	95
TABLE 20	LEAD-ACID: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION,  2018–2022 (USD MILLION)	96
TABLE 21	LEAD-ACID: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION,  2023–2028 (USD MILLION)	96
7	RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING	97
7.1	INTRODUCTION	98
FIGURE 38	6 TO <10 KW SEGMENT ACCOUNTED FOR LARGEST SHARE OF RESIDENTIAL ENERGY STORAGE MARKET IN 2022	98
TABLE 22	RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING,  2018–2022 (USD MILLION)	98
TABLE 23	RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING,  2023–2028 (USD MILLION)	99
7.2	3 TO <6 KW	99
7.2.1	GROWING DEMAND FOR SYSTEMS WITH LOWEST POWER INPUT TO STIMULATE MARKET GROWTH	99
TABLE 24	3 TO <6 KW: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION,  2018–2022 (USD MILLION)	100
TABLE 25	3 TO <6 KW: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION,  2023–2028 (USD MILLION)	100
7.3	6 TO <10 KW	100
7.3.1	LONG-DURATION POWER OUTAGES TO PROMOTE USE OF SYSTEMS WITH 6 TO <10 KW POWER RATING	100
TABLE 26	6 TO <10 KW: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION,  2018–2022 (USD MILLION)	101
TABLE 27	6 TO <10 KW: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION,  2023–2028 (USD MILLION)	101
7.4	10 TO 20 KW	102
7.4.1	NEED FOR HIGH-POWER APPLIANCES BOOSTING DEMAND FOR SYSTEMS WITH HIGH POWER RATING	102
TABLE 28	10 TO 20 KW: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION,  2018–2022 (USD MILLION)	102
TABLE 29	10 TO 20 KW: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION,  2023–2028 (USD MILLION)	103
8	RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE	104
8.1	INTRODUCTION	105
FIGURE 39	CUSTOMER-OWNED SEGMENT DOMINATED RESIDENTIAL ENERGY STORAGE MARKET IN 2022	105
TABLE 30	RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE,  2018–2022 (USD MILLION)	105
TABLE 31	RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE,  2023–2028 (USD MILLION)	106
8.2	CUSTOMER-OWNED	106
8.2.1	ABILITY TO RESOLVE ISSUES OF OVERVOLTAGE AND IMBALANCE OF ENERGY SUPPLY AND DEMAND TO DRIVE GROWTH	106
TABLE 32	CUSTOMER-OWNED: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION,  2018–2022 (USD MILLION)	107
TABLE 33	CUSTOMER-OWNED: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION,  2023–2028 (USD MILLION)	107
8.3	UTILITY-OWNED	107
8.3.1	GLOBAL RENEWABLE ENERGY GENERATION INITIATIVES TO BOOST INSTALLATION OF UTILITY-OWNED ESS	107
TABLE 34	UTILITY-OWNED: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION,  2018–2022 (USD MILLION)	108
TABLE 35	UTILITY-OWNED: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION,  2023–2028 (USD MILLION)	108
8.4	THIRD-PARTY-OWNED	109
8.4.1	HIGH UPFRONT COST AND LOW PER CAPITA INCOME TO BOOST DEMAND FOR THIRD-PARTY-OWNED ESS	109
TABLE 36	THIRD-PARTY-OWNED: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION,  2018–2022 (USD MILLION)	109
TABLE 37	THIRD-PARTY-OWNED: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION,  2023–2028 (USD MILLION)	110
9	RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE	111
9.1	INTRODUCTION	112
FIGURE 40	RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE, 2022	112
TABLE 38	RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE,  2018–2022 (USD MILLION)	112
TABLE 39	RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE,  2023–2028 (USD MILLION)	112
9.2	STANDALONE SYSTEMS	113
9.2.1	LOWER UPFRONT COSTS OF STANDALONE SYSTEMS TO DRIVE MARKET GROWTH	113
TABLE 40	STANDALONE SYSTEMS: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION,  2018–2022 (USD MILLION)	113
TABLE 41	STANDALONE SYSTEMS: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION,  2023–2028 (USD MILLION)	114
9.3	SOLAR AND STORAGE SYSTEMS	114
9.3.1	HIGH REQUIREMENT FOR ENERGY SELF-SUFFICIENCY TO BOOST DEMAND FOR SOLAR AND STORAGE SYSTEMS	114
TABLE 42	SOLAR AND STORAGE SYSTEMS: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2018–2022 (USD MILLION)	115
TABLE 43	SOLAR AND STORAGE SYSTEMS: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2023–2028 (USD MILLION)	115
10	RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE	116
10.1	INTRODUCTION	117
FIGURE 41	RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2022	117
TABLE 44	RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD MILLION)	117
TABLE 45	RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD MILLION)	118
10.2	ON-GRID	118
10.2.1	RISING USE OF ON-GRID BATTERY STORAGE SYSTEMS TO REDUCE ENERGY BILLS	118
TABLE 46	ON-GRID: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION,  2018–2022 (USD MILLION)	118
TABLE 47	ON-GRID: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION,  2023–2028 (USD MILLION)	119
10.3	OFF-GRID	119
10.3.1	FOCUS ON ENVIRONMENTAL CONSERVATION TO PROMOTE USE OF OFF-GRID SYSTEMS	119
TABLE 48	OFF-GRID: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION,  2018–2022 (USD MILLION)	120
TABLE 49	OFF-GRID: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION,  2023–2028 (USD MILLION)	120
11	RESIDENTIAL ENERGY STORAGE MARKET, BY REGION	121
11.1	INTRODUCTION	122
FIGURE 42	EUROPE DOMINATED RESIDENTIAL ENERGY STORAGE MARKET IN 2022	122
11.1.1	RECESSION IMPACT: INTRODUCTION	123
TABLE 50	RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2018–2022 (MW)	123
TABLE 51	RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2023–2028 (MW)	123
TABLE 52	RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2018–2022 (USD MILLION)	124
TABLE 53	RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2023–2028 (USD MILLION)	124
11.2	NORTH AMERICA	124
FIGURE 43	NORTH AMERICA: SNAPSHOT OF RESIDENTIAL ENERGY STORAGE  MARKET, 2022	125
11.2.1	RECESSION IMPACT: NORTH AMERICA	125
TABLE 54	NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	126
TABLE 55	NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	126
TABLE 56	NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING,  2018–2022 (USD MILLION)	126
TABLE 57	NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING,  2023–2028 (USD MILLION)	127
TABLE 58	NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE,  2018–2022 (USD MILLION)	127
TABLE 59	NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE,  2023–2028 (USD MILLION)	127
TABLE 60	NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE,  2018–2022 (USD MILLION)	127
TABLE 61	NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE,  2023–2028 (USD MILLION)	128
TABLE 62	NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	128
TABLE 63	NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	128
TABLE 64	NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY,  2018–2022 (MW)	128
TABLE 65	NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY,  2023–2028 (MW)	129
TABLE 66	NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY,  2018–2022 (USD THOUSAND)	129
TABLE 67	NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY,  2023–2028 (USD THOUSAND)	129
11.2.2	US	130
11.2.2.1	High sales of solar and storage systems to boost market growth	130
TABLE 68	US: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	130
TABLE 69	US: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	131
TABLE 70	US: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	131
TABLE 71	US: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	131
11.2.3	CANADA	132
11.2.3.1	Supportive policies promoting installation of ESS to drive market growth	132
TABLE 72	CANADA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	132
TABLE 73	CANADA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	133
TABLE 74	CANADA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	133
TABLE 75	CANADA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	133
11.2.4	MEXICO	134
11.2.4.1	Strong focus on improving power quality and reducing electricity costs to drive market growth	134
TABLE 76	MEXICO: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	134
TABLE 77	MEXICO: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	135
TABLE 78	MEXICO: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	135
TABLE 79	MEXICO: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	135
11.3	ASIA PACIFIC	136
FIGURE 44	ASIA PACIFIC: SNAPSHOT OF RESIDENTIAL ENERGY STORAGE MARKET, 2022	137
11.3.1	RECESSION IMPACT: ASIA PACIFIC	137
TABLE 80	ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	138
TABLE 81	ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	138
TABLE 82	ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING,  2018–2022 (USD MILLION)	138
TABLE 83	ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING,  2023–2028 (USD MILLION)	139
TABLE 84	ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE,  2018–2022 (USD MILLION)	139
TABLE 85	ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE,  2023–2028 (USD MILLION)	139
TABLE 86	ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE,  2018–2022 (USD MILLION)	139
TABLE 87	ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE,  2023–2028 (USD MILLION)	140
TABLE 88	ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	140
TABLE 89	ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	140
TABLE 90	ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2018–2022 (MW)	141
TABLE 91	ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2023–2028 (MW)	141
TABLE 92	ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY,  2018–2022 (USD MILLION)	141
TABLE 93	ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY,  2023–2028 (USD MILLION)	142
11.3.2	CHINA	142
11.3.2.1	Rising need for grid stability to boost market	142
TABLE 94	CHINA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	143
TABLE 95	CHINA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	143
TABLE 96	CHINA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	143
TABLE 97	CHINA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	144
11.3.3	INDIA	144
11.3.3.1	Utilization of distributed renewables energy technology to spur demand for ESS	144
TABLE 98	INDIA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	145
TABLE 99	INDIA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	145
TABLE 100	INDIA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	145
TABLE 101	INDIA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	146
11.3.4	JAPAN	146
11.3.4.1	R&D efforts by battery providers to support market growth	146
TABLE 102	JAPAN: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	147
TABLE 103	JAPAN: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	147
TABLE 104	JAPAN: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	147
TABLE 105	JAPAN: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	148
11.3.5	SOUTH KOREA	148
11.3.5.1	Need to improve power quality and reliability to drive market	148
TABLE 106	SOUTH KOREA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	148
TABLE 107	SOUTH KOREA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	149
TABLE 108	SOUTH KOREA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	149
TABLE 109	SOUTH KOREA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	149
11.3.6	AUSTRALIA	150
11.3.6.1	Launch of incentives to install battery-powered energy storage systems to drive market growth	150
TABLE 110	AUSTRALIA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	150
TABLE 111	AUSTRALIA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	151
TABLE 112	AUSTRALIA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	151
TABLE 113	AUSTRALIA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	151
11.3.7	REST OF ASIA PACIFIC	152
TABLE 114	REST OF ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	152
TABLE 115	REST OF ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	152
TABLE 116	REST OF ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	153
TABLE 117	REST OF ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	153
11.4	EUROPE	153
FIGURE 45	EUROPE: SNAPSHOT OF RESIDENTIAL ENERGY STORAGE MARKET, 2022	155
11.4.1	RECESSION IMPACT: EUROPE	156
TABLE 118	EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	156
TABLE 119	EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	156
TABLE 120	EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING,  2018–2022 (USD MILLION)	156
TABLE 121	EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING,  2023–2028 (USD MILLION)	157
TABLE 122	EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE,  2018–2022 (USD MILLION)	157
TABLE 123	EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE,  2023–2028 (USD MILLION)	157
TABLE 124	EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE,  2018–2022 (USD MILLION)	157
TABLE 125	EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE,  2023–2028 (USD MILLION)	158
TABLE 126	EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	158
TABLE 127	EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	158
TABLE 128	EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2018–2022 (KW)	159
TABLE 129	EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2023–2028 (KW)	160
TABLE 130	EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY,  2018–2022 (USD THOUSAND)	161
TABLE 131	EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY,  2023–2028 (USD THOUSAND)	162
11.4.2	GERMANY	162
11.4.2.1	Adoption of rooftop solar energy systems to accelerate market growth	162
TABLE 132	GERMANY: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	163
TABLE 133	GERMANY: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	163
TABLE 134	GERMANY: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	163
TABLE 135	GERMANY: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	164
11.4.3	ITALY	164
11.4.3.1	Superbonus 110% scheme to accelerate market growth	164
TABLE 136	ITALY: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	165
TABLE 137	ITALY: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	165
TABLE 138	ITALY: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	165
TABLE 139	ITALY: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	166
11.4.4	UK	166
11.4.4.1	Strong focus on achieving grid independence to drive demand for residential energy systems	166
TABLE 140	UK: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	166
TABLE 141	UK: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	167
TABLE 142	UK: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	167
TABLE 143	UK: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	167
11.4.5	AUSTRIA	168
11.4.5.1	High difference between retail electricity prices and subsidized feed-in tariff to foster market growth	168
TABLE 144	AUSTRIA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	168
TABLE 145	AUSTRIA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	169
TABLE 146	AUSTRIA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	169
TABLE 147	AUSTRIA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	169
11.4.6	FRANCE	169
11.4.6.1	Significant efforts to reduce greenhouse gas emissions to propel market growth	169
TABLE 148	FRANCE: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	170
TABLE 149	FRANCE: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	170
TABLE 150	FRANCE: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	170
TABLE 151	FRANCE: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	171
11.4.7	NETHERLANDS	171
11.4.7.1	Withdrawing from net-metering schemes to support installation of ESS	171
TABLE 152	NETHERLANDS: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	171
TABLE 153	NETHERLANDS: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	172
TABLE 154	NETHERLANDS: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	172
TABLE 155	NETHERLANDS: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	172
11.4.8	SWITZERLAND	173
11.4.8.1	Government incentives and supportive policy framework to drive market growth	173
TABLE 156	SWITZERLAND: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	173
TABLE 157	SWITZERLAND: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	173
TABLE 158	SWITZERLAND: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	174
TABLE 159	SWITZERLAND: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	174
11.4.9	SPAIN	174
11.4.9.1	Favorable national incentive package to install PV modules to fuel market growth	174
TABLE 160	SPAIN: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	175
TABLE 161	SPAIN: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	175
TABLE 162	SPAIN: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	175
TABLE 163	SPAIN: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	176
11.4.10	BELGIUM	176
11.4.10.1	Investment in virtual power plants to boost market growth	176
TABLE 164	BELGIUM: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	176
TABLE 165	BELGIUM: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	177
TABLE 166	BELGIUM: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	177
TABLE 167	BELGIUM: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	177
11.4.11	POLAND	178
11.4.11.1	Government subsidies to install solar panels to support market growth	178
TABLE 168	POLAND: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	178
TABLE 169	POLAND: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	178
TABLE 170	POLAND: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	179
TABLE 171	POLAND: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	179
11.4.12	CZECH REPUBLIC	179
11.4.12.1	Favorable regulations for installation of smart home energy management systems to stimulate market growth	179
TABLE 172	CZECH REPUBLIC: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	180
TABLE 173	CZECH REPUBLIC: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	180
TABLE 174	CZECH REPUBLIC: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	180
TABLE 175	CZECH REPUBLIC: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	181
11.4.13	BULGARIA	181
11.4.13.1	High investment in renewable energy projects to propel market growth	181
TABLE 176	BULGARIA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	181
TABLE 177	BULGARIA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	182
TABLE 178	BULGARIA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	182
TABLE 179	BULGARIA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	182
11.4.14	HUNGARY	183
11.4.14.1	Increased installed capacity of solar power plants to drive market	183
TABLE 180	HUNGARY: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	183
TABLE 181	HUNGARY: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	183
TABLE 182	HUNGARY: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	184
TABLE 183	HUNGARY: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	184
11.4.15	ROMANIA	184
11.4.15.1	Advancements in battery technology to spur demand for battery-powered ESS	184
TABLE 184	ROMANIA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2018–2022 (USD THOUSAND)	185
TABLE 185	ROMANIA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY,  2023–2028 (USD THOUSAND)	185
TABLE 186	ROMANIA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2018–2022 (USD THOUSAND)	185
TABLE 187	ROMANIA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE,  2023–2028 (USD THOUSAND)	186
FIGURE 46 MIDDLE EAST & AFRICA: SNAPSHOT OF RESIDENTIAL ENERGY STORAGE MARKET, 2022 187
11.5.1 RECESSION IMPACT: MIDDLE EAST & AFRICA 187
TABLE 188 MIDDLE EAST & AFRICA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND) 188
TABLE 189 MIDDLE EAST & AFRICA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND) 188
TABLE 190 MIDDLE EAST & AFRICA: RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING, 2018–2022 (USD MILLION) 188
TABLE 191 MIDDLE EAST & AFRICA: RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING, 2023–2028 (USD MILLION) 189
TABLE 192 MIDDLE EAST & AFRICA: RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE, 2018–2022 (USD MILLION) 189
TABLE 193 MIDDLE EAST & AFRICA: RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE, 2023–2028 (USD MILLION) 189
TABLE 194 MIDDLE EAST & AFRICA: RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE, 2018–2022 (USD MILLION) 189
TABLE 195 MIDDLE EAST & AFRICA: RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE, 2023–2028 (USD MILLION) 190
TABLE 196 MIDDLE EAST & AFRICA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND) 190
TABLE 197 MIDDLE EAST & AFRICA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND) 190
TABLE 198 MIDDLE EAST & AFRICA: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2018–2022 (MW) 191
TABLE 199 MIDDLE EAST & AFRICA: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2023–2028 (MW) 191
TABLE 200 MIDDLE EAST & AFRICA: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2018–2022 (USD THOUSAND) 191
TABLE 201 MIDDLE EAST & AFRICA: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2023–2028 (USD THOUSAND) 192
11.5.2 SAUDI ARABIA 192
11.5.2.1 Increasing energy prices and rising need for renewable power generation to boost market growth 192
TABLE 202 SAUDI ARABIA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND) 192
TABLE 203 SAUDI ARABIA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND) 193
TABLE 204 SAUDI ARABIA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND) 193
TABLE 205 SAUDI ARABIA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND) 193
11.5.3 UAE 194
11.5.3.1 Grid stability and flexibility through ESS to accelerate market growth 194
TABLE 206 UAE: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND) 194
TABLE 207 UAE: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND) 194
TABLE 208 UAE: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND) 195
TABLE 209 UAE: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND) 195
11.5.4 SOUTH AFRICA 195
11.5.4.1 Grid connectivity and proposed solar and storage projects to fuel market 195
TABLE 210 SOUTH AFRICA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND) 196
TABLE 211 SOUTH AFRICA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND) 196
TABLE 212 SOUTH AFRICA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND) 196
TABLE 213 SOUTH AFRICA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND) 197
11.5.5 REST OF MIDDLE EAST & AFRICA 197
TABLE 214 REST OF MIDDLE EAST & AFRICA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND) 197
TABLE 215 REST OF MIDDLE EAST & AFRICA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND) 198
TABLE 216 REST OF MIDDLE EAST & AFRICA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND) 198
TABLE 217 REST OF MIDDLE EAST & AFRICA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND) 198
11.6 SOUTH AMERICA 199
FIGURE 47 SOUTH AMERICA: SNAPSHOT OF RESIDENTIAL ENERGY STORAGE MARKET, 2022 199
11.6.1 RECESSION IMPACT: SOUTH AMERICA 200
TABLE 218 SOUTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND) 200
TABLE 219 SOUTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND) 200
TABLE 220 SOUTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING, 2018–2022 (USD MILLION) 200
TABLE 221 SOUTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING, 2023–2028 (USD MILLION) 201
TABLE 222 SOUTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE, 2018–2022 (USD MILLION) 201
TABLE 223 SOUTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE, 2023–2028 (USD MILLION) 201
TABLE 224 SOUTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE, 2018–2022 (USD MILLION) 201
TABLE 225 SOUTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE, 2023–2028 (USD MILLION) 202
TABLE 226 SOUTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND) 202
TABLE 227 SOUTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND) 202
TABLE 228 SOUTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2018–2022 (MW) 203
TABLE 229 SOUTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2023–2028 (MW) 203
TABLE 230 SOUTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 203
TABLE 231 SOUTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 204
11.6.2 BRAZIL 204
11.6.2.1 Need to handle power outages to create demand for ESS 204
TABLE 232 BRAZIL: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND) 204
TABLE 233 BRAZIL: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND) 205
TABLE 234 BRAZIL: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND) 205
TABLE 235 BRAZIL: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND) 205
11.6.3 CHILE 205
11.6.3.1 Need for energy backup to spur demand for ESS 205
TABLE 236 CHILE: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND) 206
TABLE 237 CHILE: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND) 206
TABLE 238 CHILE: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND) 206
TABLE 239 CHILE: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND) 207
11.6.4 REST OF SOUTH AMERICA 207
TABLE 240 REST OF SOUTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND) 207
TABLE 241 REST OF SOUTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND) 208
TABLE 242 REST OF SOUTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND) 208
TABLE 243 REST OF SOUTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND) 208
12 COMPETITIVE LANDSCAPE 209
12.1 OVERVIEW 209
TABLE 244 KEY DEVELOPMENTS IN RESIDENTIAL ENERGY STORAGE MARKET, 2019 TO 2023 209
12.2 MARKET EVALUATION FRAMEWORK 210
TABLE 245 MARKET EVALUATION FRAMEWORK, 2019–2023 210
12.3 SHARE ANALYSIS OF KEY PLAYERS, 2022 211
TABLE 246 RESIDENTIAL ENERGY STORAGE MARKET: DEGREE OF COMPETITION 212
FIGURE 48 MARKET SHARE ANALYSIS OF TOP PLAYERS IN RESIDENTIAL ENERGY STORAGE MARKET, 2022 213
12.4 SEGMENTAL REVENUE ANALYSIS OF TOP MARKET PLAYERS 214
FIGURE 49 SEGMENTAL REVENUE ANALYSIS, 2018–2022 214
12.5 RECENT DEVELOPMENTS 215
12.5.1 DEALS 215
TABLE 247 RESIDENTIAL ENERGY STORAGE MARKET: DEALS, 2019–2023 215
12.5.2 OTHER DEVELOPMENTS 216
TABLE 248 RESIDENTIAL ENERGY STORAGE MARKET: OTHER DEVELOPMENTS, 2019–2023 216
12.5.3 PRODUCT LAUNCHES/DEVELOPMENTS 217
TABLE 249 RESIDENTIAL ENERGY STORAGE MARKET: PRODUCT LAUNCHES/DEVELOPMENTS, 2019–2023 217
12.6 COMPANY EVALUATION MATRIX 217
12.6.1 STARS 217
12.6.2 EMERGING LEADERS 217
12.6.3 PERVASIVE COMPANIES 217
12.6.4 PARTICIPANTS 217
FIGURE 50 RESIDENTIAL ENERGY STORAGE MARKET: COMPANY EVALUATION MATRIX, 2022 218
TABLE 250 POWER RATING FOOTPRINT OF COMPANIES 219
TABLE 251 TECHNOLOGY FOOTPRINT OF COMPANIES 220
TABLE 252 OWNERSHIP TYPE FOOTPRINT OF COMPANIES 221
TABLE 253 CONNECTIVITY TYPE FOOTPRINT OF COMPANIES 222
TABLE 254 OPERATION TYPE FOOTPRINT OF COMPANIES 223
TABLE 255 REGIONAL FOOTPRINT OF COMPANIES 224
12.7 STARTUP/SME EVALUATION MATRIX 225
12.7.1 PROGRESSIVE COMPANIES 225
12.7.2 RESPONSIVE COMPANIES 225
12.7.3 DYNAMIC COMPANIES 225
12.7.4 STARTING BLOCKS 225
FIGURE 51 RESIDENTIAL ENERGY STORAGE MARKET: STARTUP/SME EVALUATION MATRIX, 2022 226
12.8 COMPETITIVE BENCHMARKING 227
TABLE 256 RESIDENTIAL ENERGY STORAGE MARKET: LIST OF KEY STARTUPS/SMES 227
TABLE 257 OWNERSHIP TYPE FOOTPRINT OF COMPANIES (STARTUPS) 227
TABLE 258 TECHNOLOGY FOOTPRINT OF COMPANIES (STARTUPS) 228
TABLE 259 POWER RATING FOOTPRINT OF COMPANIES (STARTUPS) 228
TABLE 260 OPERATION TYPE FOOTPRINT OF COMPANIES (STARTUPS) 228
TABLE 261 CONNECTIVITY TYPE FOOTPRINT OF COMPANIES (STARTUPS) 229
TABLE 262 REGIONAL FOOTPRINT OF COMPANIES (STARTUPS) 229
13 COMPANY PROFILES 230
(Business Overview, Products Offered, Recent Developments, MnM View Right to win, Strategic choices made, Weaknesses and competitive threats) *
13.1 KEY PLAYERS 230
13.1.1 TESLA 230
TABLE 263 TESLA: BUSINESS OVERVIEW 230
FIGURE 52 TESLA: COMPANY SNAPSHOT 231
TABLE 264 TESLA: PRODUCT LAUNCHES/PRODUCT DEVELOPMENTS 232
TABLE 265 TESLA: DEALS 232
TABLE 266 TESLA: OTHER DEVELOPMENTS 233
13.1.2 PANASONIC HOLDINGS CORPORATION 234
TABLE 267 PANASONIC HOLDINGS CORPORATION: BUSINESS OVERVIEW 234
FIGURE 53 PANASONIC HOLDINGS CORPORATION: COMPANY SNAPSHOT 235
TABLE 268 PANASONIC HOLDINGS CORPORATION: DEALS 236
13.1.3 BYD COMPANY LTD. 238
TABLE 269 BYD COMPANY LTD.: BUSINESS OVERVIEW 238
FIGURE 54 BYD COMPANY LTD.: COMPANY SNAPSHOT 239
TABLE 270 BYD COMPANY LTD.: PRODUCT LAUNCHES/PRODUCT DEVELOPMENTS 240
TABLE 271 BYD COMPANY LTD.: DEALS 241
13.1.4 ENPHASE ENERGY 243
TABLE 272 ENPHASE ENERGY: BUSINESS OVERVIEW 243
FIGURE 55 ENPHASE ENERGY: COMPANY SNAPSHOT 244
TABLE 273 ENPHASE ENERGY: DEALS 245
TABLE 274 ENPHASE ENERGY: OTHER DEVELOPMENTS 245
13.1.5 SONNEN GMBH 247
TABLE 275 SONNEN GMBH: BUSINESS OVERVIEW 247
TABLE 276 SONNEN GMBH: PRODUCT LAUNCHES/PRODUCT DEVELOPMENT 247
TABLE 277 SONNEN GMBH: DEALS 248
TABLE 278 SONNEN GMBH: OTHER DEVELOPMENTS 248
13.1.6 VARTA AG 250
TABLE 279 VARTA AG: BUSINESS OVERVIEW 250
FIGURE 56 VARTA AG: COMPANY SNAPSHOT 251
13.1.7 DELTA ELECTRONICS, INC. 253
TABLE 280 DELTA ELECTRONICS, INC.: BUSINESS OVERVIEW 253
FIGURE 57 DELTA ELECTRONICS, INC.: COMPANY SNAPSHOT 254
13.1.8 HUAWEI TECHNOLOGIES CO., LTD. 255
TABLE 281 HUAWEI TECHNOLOGIES CO., LTD.: BUSINESS OVERVIEW 255
FIGURE 58 HUAWEI TECHNOLOGIES CO., LTD.: COMPANY SNAPSHOT 256
TABLE 282 HUAWEI TECHNOLOGIES CO., LTD.: PRODUCT LAUNCHES/PRODUCT DEVELOPMENTS 257
TABLE 283 HUAWEI TECHNOLOGIES CO., LTD.: DEALS 258
13.1.9 EATON 259
TABLE 284 EATON: BUSINESS OVERVIEW 259
FIGURE 59 EATON: COMPANY SNAPSHOT 260
TABLE 285 EATON: DEALS 261
TABLE 286 EATON: PRODUCT DEVELOPMENTS/PRODUCT LAUNCHES 261
13.1.10 SMA SOLAR TECHNOLOGY AG 262
TABLE 287 SMA SOLAR TECHNOLOGY AG: BUSINESS OVERVIEW 262
FIGURE 60 SMA SOLAR TECHNOLOGY AG: COMPANY SNAPSHOT 263
TABLE 288 SMA SOLAR TECHNOLOGY AG: PRODUCT LAUNCHES/PRODUCT DEVELOPMENTS 264
TABLE 289 SMA SOLAR TECHNOLOGY AG: OTHER DEVELOPMENTS 264
13.1.11 LG ENERGY SOLUTION 265
TABLE 290 LG ENERGY SOLUTION: BUSINESS OVERVIEW 265
FIGURE 61 LG ENERGY SOLUTION: COMPANY SNAPSHOT 266
13.1.12 GOODWE 267
TABLE 291 GOODWE: BUSINESS OVERVIEW 267
13.1.13 E3/DC 268
TABLE 292 E3/DC: BUSINESS OVERVIEW 268
13.1.14 ALPHA ESS CO., LTD. 269
TABLE 293 ALPHA ESS CO., LTD.: BUSINESS OVERVIEW 269
TABLE 294 ALPHA ESS CO., LTD.: DEALS 270
13.1.15 RCT–POWER 271
TABLE 295 RCT–POWER: BUSINESS OVERVIEW 271
13.1.16 SOLARWATT 272
TABLE 296 SOLARWATT: BUSINESS OVERVIEW 272
TABLE 297 SOLARWATT: DEALS 272
TABLE 298 SOLARWATT: OTHER DEVELOPMENTS 273
13.1.17 SENEC 274
TABLE 299 SENEC: BUSINESS OVERVIEW 274
TABLE 300 SENEC: PRODUCT LAUNCHES/PRODUCT DEVELOPMENTS 274
13.1.18 SHANGHAI PYTES ENERGY CO., LTD. 275
TABLE 301 SHANGHAI PYTES ENERGY CO., LTD.: BUSINESS OVERVIEW 275
13.2 OTHER PLAYERS 276
13.2.1 PYLON TECHNOLOGIES CO., LTD. 276
13.2.2 VICTRON ENERGY 276
13.2.3 DYNESS 277
13.2.4 TESVOLT AG 277
13.2.5 TURBO ENERGY – SOLAR INNOVATION 278
13.2.6 BST POWER (SHENZHEN) LIMITED 278
13.2.7 WECO SRL 279
13.2.8 POWERVAULT 279
*Details on Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies.
14 APPENDIX 280
14.1 INSIGHTS FROM INDUSTRY EXPERTS 280
14.2 DISCUSSION GUIDE 281
14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 288
14.4 CUSTOMIZATION OPTIONS 290
14.5 RELATED REPORTS 290
14.6 AUTHOR DETAILS 291
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