Residential Energy Storage Market Outlook 2023 - Huge Growth, Size, Share, Trends, Revenue And In-Depth Analysis 2030 - MarketsandMarkets Blog - 0 views
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Almira Coyne on 16 Jul 24The global residential energy storage market Size is estimated to be valued at USD 898 million in 2023 (Estimate Year) and is projected to reach USD 2,081 million by 2028 (Forecast Year) growing at a CAGR of 18.3% during the forecast period. The growing production of electric vehicles and the rising demand for solar PV systems are expected to be the main drivers of this growth. These factors are expected to act as key catalysts for market expansion, with a compounded annual growth rate (CAGR) of 18.3% throughout the forecast period.The domestic energy storage market is dominated by a select number of large companies with extensive regional reach.