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Stock Code: 831010

Home Energy Storage Battery Market Distribution

by YINTOM 20 Jun 2024 0 Comments
Home Energy Storage Battery Market Distribution

The distribution of the household energy storage market is mainly concentrated in Europe, the United States, Japan, Australia and other regions, with the European market accounting for a particularly high proportion.

The household energy storage system market is dominated by overseas markets, and the European region is currently the world's largest household energy storage market. According to BNEF estimates, the global installed capacity of residential energy storage reached 4.36GWh in 2021, and it is expected that the market size of the residential energy storage sector will continue to show rapid growth from 2021 to 2025. Market participants include battery vendors with layout of residential energy storage battery business and residential energy storage inverter vendors, such as domestic vendors as well as foreign vendors. In terms of market share, in 2021, Pai Energy Technology's household energy storage battery market share was 14%, while Goodway's household energy storage inverter shipments reached 60,800 units, with a market share of 9.8% respectively. In addition, Europe, the United States, Japan, Australia is the world's most important household storage market, the new installed capacity in 2022 accounted for a total of about 60%. Among them, the new installed capacity of household energy storage in Europe accounts for 36.4% of the global market.

In addition, emerging markets such as South Africa, Southeast Asia, etc. also showed high growth trend, or for the future of the global household storage industry to provide new increment. As the global energy transition strategy continues to promote, electricity supply and demand there is a spatial and temporal mismatch, superimposed on the aging of the power grid, local conflicts, extreme weather and other issues to exacerbate the conflict, driving high demand for household energy storage. At the same time, governments are strongly supporting household energy storage, which makes the economy of residential storage distribution improve.

The household energy storage system market is mainly distributed overseas, mainly in overseas Europe, the United States, Australia and other regions with high energy prices and high residential electricity prices. Compared with the overseas market, the Chinese market is mainly dominated by power generation side energy storage projects at this stage, mainly because domestic residential electricity prices are substantially lower than those in foreign regions, especially substantially lower than those in Europe, the United States, Australia and other regions, and the domestic residential should be used by users of energy storage systems for the user's economic enhancement is not prominent. At present, Europe is the world's largest household energy storage market, its market size is still in the rapid growth stage.

With the vigorous promotion of renewable energy, the continued implementation of incentive policies, the continuous increase in the installed capacity of household PV systems, and factors such as rising energy prices, high residential electricity prices and the increase in the difference between peak and valley electricity prices, the energy storage project on the electricity consumption side has exploded on a global scale.

In 2022, the European household energy storage installation showed high growth, of which the German market has become the world's largest household energy storage market, other Italy, the United Kingdom, the Czech Republic, Poland and other European countries, the installed size of household energy storage systems is also accelerating growth. It is expected that in 2022 and 2023, the installed capacity of European residential energy storage market will reach 10GWh and 23GWh respectively.

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