Bonn. Despite all obstacles already today the transformation towards a global CO2 free energy industry is an ecological and economic reality. The installation numbers of photovoltaic systems show an ongoing growth path and reached 500 GW at the end of 2018. Energy storage systems are necessary to integrate the fluctuating electricity generation of photovoltaic plants. Using an energy storage system will increase the share of self-consumed solar electricity, corresponding to a reduction of the grid load.
Within the new study „Global Analysis of Leading Providers of Residential Energy Storage Systems 2019“ the Bonn based market and economic research company EuPD Research analyzed the worldwide market of residential energy storage systems in a holistic approach. Based on 162,000 global installations in 2018 the forecast figures show a sixfold increase of new annual installations within the next decade until 2030. This results in a cumulated number of eight million residential energy storage installations on a global level at the end of 2030.
Today, more than 100 companies are active within the field of residential energy storage solutions. New providers are still entering this market as the current involvement of the technology group Siemens shows. Before the background of significant financial requirements for the implementation of a global presence, it is a crucial factor to know who the providers with an ongoing growth on an international level on mid- and long term basis are.
“The current global sales market only includes a few country markets. Already today, we realize the high costs of international market development. Beside building up an on-site sales network, country specific regulations for residential energy storage products have to be implemented.” comments Dr. Martin Ammon, study director at EuPD Research.
Based on global framework conditions the report “Global Analysis of Leading Providers of Residential Energy Storage Systems 2019“ describes current, as well as future core markets for the residential energy storage industry, shows the distribution of storage solutions and the buying process of end costumers. Based on this information, success factors to analyze the global top 20 providers were established within the report. Finally, the study provides a clustering of the top 20 providers.
For further information about this study and EuPD Research please contact Senior Consultant Saif Islam (s.islam[at]eupd-research.com).