The energy storage systems are used by the residential sector, to guarantee continuous and cost-efficient power to the household units. The suitability of a storage technology is determined primarily by its power and energy capacity and the rate at which they can be stored and delivered. With the rapid growth of renewable energy, such as photovoltaic generation, the use of energy storage systems is expected to spread significantly and meet with growing social needs. With the increasing residential solar power generation, the market for the household energy storage industry is accelerating. The Global Home Energy Storage System Market was valued at US$ 61.62 Bn in 2020 and is expected to reach US$ 83.83 Bn by 2030 during the forecast period.
Top Key Players includes: ABB, ChargeSync, Enphase Energy, Inc., LG Chem, Mercedes Benz Energy, Moixa Energy Holdings Ltd., Nissan, Panasonic Corporation, Pika Energy Inc., General Electric, Powervault, Samsung SDI Co. Ltd., SOLARWATT, Sonnen, Tabuchi Electric Co., Ltd., Tesla, and VARTA AG amongst others.
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Home Energy Storage System Market, By Connection Type
The market for on-grid connection is expected to flourish at the highest rate during the forecast period. The on-grid home energy storage systems use the utility networks for providing power to consumers, which also reduces the electricity bills. The load leveling, peak shaving, and power demand management are the primary uses of any on-grid connected home energy storage system installed with electrical grids. These components contribute in the development of the market for on-grid connected home energy storage systems.
Home Energy Storage System Market, By Region
APAC includes China, India, Japan, South Korea, and the Rest of APAC (RoAPAC). APAC is gradually turning into a center point for the home energy storage system industry. The demand for home energy storage systems from China, India, and Japan is slowly expanding. The power demand in China is increasing due to increase in the population rate in the country. To achieve the increasing demand from the rapidly growing population, the public-sector state Grid corporation of China, the world's largest distributor, has positioned energy storage systems to give subordinate services all through its grid.
Objectives of the Study:
- To define, describe, and analyze the global conducting polymers market by type, application, and region
- To forecast and analyze the market size (in terms of value and volume) and submarkets in five regions such as Asia Pacific, Europe, North America, Central & South America, and the Middle East & Africa
- To forecast Country-level market and analysis for each region.
- To strategically analyze each submarket with respect to individual growth trends and its contribution to the global market of conducting polymers
- To analyze market opportunities for stakeholders by identifying fast-growing segments of the global conductive polymer market.
- To identify trends and factors that drive or hinder the growth of markets and submarkets.
- To analyze competitive developments, such as expansions, new product developments, mergers & acquisitions, and contracts & agreements in the global conducting polymers market
- Strategically profile key market players and comprehensively analyze their growth strategies.
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