What is the Current and Future Size of the Residential Battery Market?
The residential battery market has seen substantial growth in recent years, expanding from $9.66 billion in 2024 to $11.08 billion in 2025 at a Compound Annual Growth Rate (CAGR) of 14.6%. This surge can be accredited to factors such as renewable energy integration, energy storage for backup and grid stability, declining battery costs, government incentives and subsidies, and increasing power outages.
Expected to maintain this upward trajectory, the residential battery market is forecasted to reach $17.96 billion in 2029, growing at a CAGR of 12.8%. This progression will be stimulated by energy independence and self-sufficiency, advanced battery management systems, expansion of microgrid and off-grid systems, integration with smart home technologies, transition to electric heating and cooling, as well as energy efficiency and carbon footprint reduction. Emerging trends within this forecast period include increasing use of lithium-ion and solid-state batteries, virtual power plants and peer-to-peer energy trading, recycling and sustainable battery materials, advanced grid integration solutions, mobile and modular battery solutions, and artificial intelligence for predictive maintenance.
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What Drives the Growth of the Residential Battery Market?
The escalating deployment of solar power generation is propelling the residential battery market’s growth. The installation of solar panels in residential and commercial spaces is on the rise, due to cost-efficiency. The power generated by these panels is stored in residential batteries. For instance, in 2024, the United States installed a record-breaking 31 gigawatts (GW) of solar energy capacity, marking a remarkable 55% surge from the installations in 2022. Everyone, homeowners, renters and businesses, are now able to access the economic and environmental benefits of solar energy generation in the community solar sector. Over the next five years, this sector is projected to install more than 4.3 gigawatts of total capacity, thus further bolstering the residential battery market.
How is The Residential Battery Market Segmented?
– By Type: Lithium-ion Battery, Lead-Acid Battery, Other Types
– By Operation Type: Standalone Systems, Solar and storage
– By Power Rating: 3–6 kW, 6–10 kW
– By End-User: Industrial, Commercial, Residential
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Who are the Major Players in the Residential Battery Market?
Major companies operating in the residential battery market include Amara Raja Batteries Limited, Samsung SDI Co. Ltd., LG Chem Ltd., BYD Company Ltd., Tesla Inc., ABB Ltd., Siemens AG, Luminous Power Technologies Ltd., Contemporary Amperex Technology Co. Limited, Panasonic Corporation, Power-Sonic Corporation, Lishen Battery Co. Ltd., China Baofeng Battery Technology Co. Ltd., Loom Solar Pvt. Ltd., Ruipu Energy Co. Ltd., China Aviation Lithium Battery Co. Ltd., Guoxuan High-tech Power Energy Co. Ltd., Sunwoda Electronic Co. Ltd., Farasis Energy Co. Ltd., Sonnen GmbH, Fluence Energy LLC, Bloom Energy Corporation, Blue Planet Energy, Electrovaya Inc., Enphase Energy Inc., ESS Inc., Evergen Energy Solutions Inc., FIMER SpA, Gotion High-tech Co. Ltd., Murata Manufacturing Co. Ltd., NEC Corporation, NextEra Energy Inc., Powin Energy Corporation, Redflow Limited, SimpliPhi Power Inc., Ultralife Corporation.
What are the Emerging Trends in the Residential Battery Market?
Technological advancements are key trends gaining popularity in the residential battery market. Leading companies are progressively harnessing new technologies and research developments to offer enhanced products to their customers. For instance, in March 2023, Qorvo, a US-based semiconductor company, unveiled two new battery management systems, PAC22140 and PAC25140, that employ single battery management ICs to provide support to up to 20 battery pack cells.
Which Region Dominates the Residential Battery Market?
In 2024, Asia-Pacific was the largest region participating in the residential battery market. Other regions covered in the residential battery market report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Residential Battery Market Report 2025 Offer?
The residential battery refers to the battery used for in-home purposes, storing energy supplied from the power grid or generated from renewable energy sources such as solar and wind. There are different types of battery technology available in the market, but the most commonly used technology is lithium-ion. Lithium-ion batteries serve as rechargeable batteries that connect to power charge and disconnect based on residential usage. Alongside this market definition, The Residential Battery Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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