Market Overview

The Global Residential Battery Market was valued at USD 15,381.5 million in 2023 and is expected to reach USD 57,426.0 million by 2031 while growing at a CAGR of 17.9% during the forecast period (2024-2031).

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Market Dynamics

This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global residential battery market growth. A residential battery, also called a home energy storage system, stores electricity generated on-site for later use, optimizing renewable energy in homes and providing backup power during outages.

Increasing demand for energy independence and technological advancements in energy storage drive the growth of the residential battery market. However, obstacles such as high initial costs, regulatory, and policy uncertainty may hinder market expansion.

Furthermore, the global residential battery industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.

Segmentation – By Type Analysis

The Global Residential Battery Market is segmented among Lithium-ion Battery, Lead-acid Battery, and Other Types, based on Type. In 2023, Lithium-ion Battery accounted for the majority of the market share*.

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Global Residential Battery Market: Regional Analysis

Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, Asia Pacific dominated the market with the highest market share, while North America is expected to grow with the highest CAGR during the forecast period (2024 – 2031).

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Competitive Landscape

Some of the key players operating in the market are Duracell Inc., Energizer Holding Inc., BYD Co. Ltd, FIMER SpA, LG Energy Solution Ltd, Panasonic Corporation, Samsung SDI Co. Ltd, Siemens AG, Luminous Power Technologies Pvt. Ltd, Amara Raja Batteries Ltd, and Delta Electronics Ltd. 

Table of Contents:

1. Research Methodology and Market Scope

• Research Methodology

• Market Scope

2. Executive Summary

3. Global Residential Battery Market Dynamics

• Drivers

• Restraints

• Opportunity

4. Global Residential Battery Industry Analysis

• PEST Analysis

• Porter's Five Force Analysis

• Recent Deals Analysis

5. Global Residential Battery Market Segmentation, By Type  

• Global Residential Battery Market Share Analysis, By Type  

• Global Residential Battery Market Growth Analysis, By Type  

• Global Residential Battery Market Trends, By Type  

o Lithium-ion Battery

o Lead-acid Battery

o Other Types

6. Global Residential Battery Market Segmentation, By Region

• Global Residential Battery Market Share Analysis, By Region

• Global Residential Battery Market Growth Analysis, By Region

• Global Residential Battery Market Trends, By Region

o North America

o Europe

o Asia Pacific

o Latin America

o Middle East

o Africa

7. Competitive Landscape

• Duracell Inc.*

o Company Overview

o Financial Performance

o Key Development/Strategies

o SWOT Analysis

• Energizer Holding Inc.

• BYD Co. Ltd

• FIMER SpA

• LG Energy Solution Ltd

• Panasonic Corporation

• Samsung SDI Co. Ltd

• Siemens AG

• Luminous Power Technologies Pvt. Ltd

• Amara Raja Batteries Ltd

• Delta Electronics Ltd

 *Similar analysis will be provided for each company listed above.