New York, July 12, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Residential Energy Storage Market by Power Rating, Connectivity, Technology, Ownership, Operation, Region – Global Forecast to 2028” – https://www.reportlinker.com/p05774196/?utm_source=GNWThe residential energy storage market is categorized by application into three segments: 3-6 kW, 6-10 kW, and 10-20 kW.Among these segments, the 6-10 kW segment is projected to hold the largest market share and exhibit a high CAGR during the forecast period.Lithium-ion and lead-acid batteries make up the two technology segments of the residential energy storage market.The market for lithium-ion batteries is expected to grow most rapidly.The residential energy storage market is categorized based on ownership type, including customer-owned, utility-owned, and third-party-owned systems.Among these segments, the customer-owned segment is projected to experience the highest growth rate during the forecast period, closely followed by the utility-owned segment.To gather and authenticate essential qualitative and quantitative information and evaluate future market prospects, comprehensive in-depth interviews have been conducted.These interviews involved key industry participants, subject-matter experts, C-level executives from prominent market players, industry consultants, and other relevant experts.• By Company Type: Tier 1- 65%, Tier 2- 24%, and Tier 3- 11%
• By Designation: C-Level- 30%, Director Level- 25%, and Others- 45%A few key players with extensive regional coverage dominate the residential energy storage market. These leading market players include Tesla (US), VARTA AG (Germany), Enphase Energy (US), BYD Company Ltd (China), Sonnen GmbH (Germany), LG Energy Solution (South Korea), and other notable companies.The report encompasses a comprehensive analysis of the residential energy storage market, covering various aspects such as power rating, connectivity type, operation type, ownership type, technology, and regional forecasts.It provides a detailed qualitative and quantitative assessment of the market, offering a thorough understanding of its dynamics.The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.Market Development: The residential energy storage sector aim to increase the availability of energy storage systems in new geographic regions.Key players are actively expanding their market presence, both domestically and internationally, to access untapped customer bases and leverage regional incentives and policies.Market Diversification: The residential energy storage market involves diversifying the range of products, services, and target customer segments to cater to a wider spectrum of consumer needs and preferences.Tesla holds a significant position in this market, offering the Powerwall product line, which includes various models with different capacities to meet diverse customer requirements.Competitive Assessment: An in-depth assessment reveals the market shares, growth strategies, and service offerings of key players in the residential energy storage market. Prominent companies such as Tesla (US), Sonnen GMBH (Germany), Enphase Energy (US), BYD Company Ltd. (China), and LG Energy Solution (South Korea) among others demonstrate notable positions in the residential energy storage market.
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(GlobeNewsWire)