According to Stratistics MRC, the Global Solar Battery Market is accounted for $130.98 million in 2020 and is expected to reach $475.88 million by 2028 growing at a CAGR of 17.5% during the forecast period. Rising concerns regarding conventional power generation, Growing demand for sustainable energy storage solutions are driving the market growth. However, high initial installation and maintenance costs are hampering the growth of the market.
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Based on the technology, the lithium ion (Li-Ion) solar batteries segment is going to have lucrative growth during the forecast period as these batteries help in harvesting large amount of energy this is attributed to high charge and discharge efficiencies of lithium ion batteries. By geography, Asia Pacific is going to have high growth during the forecast period owing to rise in concern from governments across emerging nations, such as South Korea, India, and China, regarding renewable energy storage. Moreover, China being the largest producer of solar power will positively influence the demand for solar battery in Asia Pacific region.
Some of the key players profiled in the Solar Battery Market include Carnegie Clean Energy, Samsung SDI, LG Chem, East Penn Manufacturing, Exide Technologies, Kokam.Co, HOPPECKE Batterien GmbH & Co. KG, Alpha Technologies, A123 Systems, Panasonic, Bosch Solar Energy, Radiant Solar Technology, First Solar and BAE Batterien.
Technologies Covered:
• Flow Batteries
• Sodium Based Batteries
• Lead Acid Batteries
• Lithium Ion (Li-Ion) Solar Batteries
Applications Covered:
• Communication Field
• Meteorological Field
• Transportation Field
• Aerospace and Defense Field
• Photovoltaic Power Station
• User Solar Power
End Users Covered:
• Commercial
• Residential
• Industrial
• Consumer
• Civilian
• Government
• Military
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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