Canada Residential Lithium-ion Battery Energy Storage Systems Market Size & Outlook
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Canada residential lithium-ion battery energy storage systems market highlights
- The Canada residential lithium-ion battery energy storage systems market generated a revenue of USD 57.2 million in 2022 and is expected to reach USD 780.5 million by 2030.
- The Canada market is expected to grow at a CAGR of 35.7% from 2023 to 2030.
- In terms of segment, 3 kw to 5 kw was the largest revenue generating power rating in 2022.
- Less than 3kW is the most lucrative power rating segment registering the fastest growth during the forecast period.
Residential lithium-ion battery energy storage systems market data book summary
| Market revenue in 2022 | USD 57.2 million |
| Market revenue in 2030 | USD 780.5 million |
| Growth rate | 35.7% (CAGR from 2023 to 2030) |
| Largest segment | 3 kw to 5 kw |
| Fastest growing segment | Less than 3kW |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Less than 3kW, 3 kW to 5 kW |
| Key market players worldwide | Enphase Energy Inc, Panasonic Holdings Corp, Tesla Inc, Hitachi Ltd, Pylon Technologies, LG Chem, Haikai, E3/DC, Sonnen, GoodWe |
Other key industry trends
- In terms of revenue, Canada accounted for 1.3% of the global residential lithium-ion battery energy storage systems market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. residential lithium-ion battery energy storage systems market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 780.5 million by 2030.
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Residential Lithium-ion Battery Energy Storage Systems Market Scope
Residential Lithium-ion Battery Energy Storage Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| GoodWe | View profile | 501-1000 | Suzhou, Jiangsu, China, Asia | https://www.goodwe.com/ |
| Sonnen | View profile | 501-1000 | Wildpoldsried, Bayern, Germany, Europe | https://sonnen.de |
| E3/DC | View profile | 11-50 | Osnabrück, Niedersachsen, Germany, Europe | https://www.e3dc.com |
| Haikai | View profile | 51-100 | Xiamen, Fujian, China, Asia | https://www.haikai-energy.com |
| LG Chem | View profile | 10001+ | Seoul, Seoul-t'ukpyolsi, South Korea, Asia | https://www.lgchem.com |
| Pylon Technologies | View profile | 501-1000 | Zhangjiang, Shanghai, China, Asia | http://www.pylontech.com.cn |
| Tesla Inc | View profile | 140473 | 1 Tesla Road, Austin, TX, United States, 78725 | https://www.tesla.com |
| Enphase Energy Inc | View profile | 3157 | 47281 Bayside Parkway, Fremont, CA, United States, 94538 | https://www.enphase.com |
| Panasonic Holdings Corp | View profile | 230025 | 1006, Oaza Kadoma, Kadoma-shi, Osaka, Japan, 571-8501 | https://holdings.panasonic |
| Hitachi Ltd | View profile | 322525 | 6-6, Marunouchi 1-chome, Chiyoda-ku, Tokyo, Japan, 100-8280 | http://www.hitachi.com |
Canada residential lithium-ion battery energy storage systems market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to residential lithium-ion battery energy storage systems market will help companies and investors design strategic landscapes.
3 kw to 5 kw was the largest segment with a revenue share of 110.49% in 2022. Horizon Databook has segmented the Canada residential lithium-ion battery energy storage systems market based on less than 3kw, 3 kw to 5 kw covering the revenue growth of each sub-segment from 2018 to 2030.
The market is expected to witness policy changes from the government to accelerate the growth of the domestic residential battery energy storage market. Factors such as increasing prices of electricity and government support to reduce the reliance on the national grid are expected to promote the residential battery energy storage systems.
This is anticipated to foster the demand for battery energy storage systems in the country over the forecast period. The government of Canada has implemented a net-metering policy, which enables homeowners to sell the extra energy that is generated back to the national grid which helps the country to keep up with the grown electricity demand and provides a new source of income to homeowners.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada residential lithium-ion battery energy storage systems market , including forecasts for subscribers. This country databook contains high-level insights into Canada residential lithium-ion battery energy storage systems market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada residential lithium-ion battery energy storage systems market size, by connectivity, 2018-2030 (US$M)
Canada Residential Lithium-ion Battery Energy Storage Systems Market Outlook Share, 2022 & 2030 (US$M)
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