Global Market for Residential Energy Storage is Anticipated to grow at a Significant Pace i.e., USD 2.38 Billion during the Forecast Period 2022-2030

Published Date: Apr, 2023

Florida, USA - VynZ Research, a global market research firm, has released a new report titled "Residential Energy Storage Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2022-2030." The report predicts strong growth for the residential energy storage market during the forecast period, driven by increasing demand for renewable energy sources and the need for energy storage solutions to support intermittent renewable sources.

According to the report, the global residential energy storage market is expected to grow at a CAGR of 22% during the forecast period from 2021 to 2030. The market is expected to reach a value of USD 2.38 billion by 2030, up from USD 0.8 billion in 2020.

The report identifies the lithium-ion battery segment as the largest and fastest-growing technology segment in the residential energy storage market. However, the report also notes the increasing adoption of other technologies such as flow batteries, sodium-ion batteries, and others.

The report highlights North America as the largest regional market for residential energy storage solutions, followed by Europe and Asia Pacific. The growing number of installations of residential solar PV systems and favorable government policies and incentives are the major drivers of the market in these regions.

The report also profiles major players operating in the market, including Tesla, LG Chem, Sonnen, BYD Company, and Enphase Energy. These companies are focusing on product innovation and development, strategic partnerships, and mergers and acquisitions to strengthen their position in the market.

"We are excited to release this report, which highlights the strong growth potential for the residential energy storage market," said a spokesperson for VynZ Research. "The market is being driven by increasing demand for renewable energy sources, favorable government policies and incentives, and the need for energy storage solutions to support intermittent renewable sources. We expect the market to continue to grow at a robust pace during the forecast period."

About VynZ Research:

VynZ Research is a global market research firm that specializes in providing market intelligence and consulting services to clients across a range of industries. The company's team of analysts and experts has extensive experience and expertise in market research and analysis and is committed to providing accurate, reliable, and actionable insights to help clients make informed decisions.

Scope of the Report

Report Metric


Market Size Available for the Years in the Study


Historical Period


Base Year


Forecast Period


Segments Covered in the Study

Technology, Application and Ownership

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Sodexo, Servicon Systems, Inc., HHS, Aramark, ABM, octoclean Franchising Systems, Inc., AVI Foodsystems, Inc., Xanitos, Inc, BRAVO! Building Services, and Jani-King International, Inc.

Global Residential Energy Storage Market Coverage

Technology Insight and Forecast 2018-2030

  • Lithium-ion Batteries
  • Lead-Acid Batteries

Application Insight and Forecast 2018-2030

  • On-Grid
  • Off-Grid

Ownership Insight and Forecast 2018-2030

  • Utility
  • Customer
  • Third-Party

Geographical Segmentation

Anti-Aging Market by Region

North America

  • By Technology
  • By Application
  • By Ownership
  • By Country
    • U.S.
    • Canada
    • Mexico


  • By Technology
  • By Application
  • By Ownership
  • By Country
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe

Asia-Pacific (APAC)

  • By Technology
  • By Application
  • By Ownership
  • By Country
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific

Rest of the World (RoW)

  • By Technology
  • By Application
  • By Ownership
  • By Country
    • Brazil
    • Saudi Arabia
    • South Africa
    • U.A.E.
    • Other Countries