Middle East & Africa Residential Lithium-ion Battery Energy Storage Systems Market Size & Outlook
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MEA residential lithium-ion battery energy storage systems market highlights
- The MEA residential lithium-ion battery energy storage systems market generated a revenue of USD 96.6 million in 2022.
- The market is expected to grow at a CAGR of 26.8% 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.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2023 to 2030.
MEA data book summary
| Market revenue in 2022 | USD 96.6 million |
| Market revenue in 2030 | USD 624.7 million |
| Growth rate | 26.8% (CAGR from 2023 to 2030) |
| Largest segment | 3 kw to 5 kw |
| Fastest growing segment | Less than 3kW |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 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, MEA region accounted for 2.1% of the global residential lithium-ion battery energy storage systems market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 7,891.9 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 |
Middle East & Africa 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 74.33% in 2022. Horizon Databook has segmented the Middle East & Africa 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 regional residential lithium ion battery energy storage systems market is led by UAE owing to the supportive government policies, rising demand for renewable energy, growing efforts to reduce GHG emissions, and declining cost of batteries.
Increasing energy demand due to population growth and rapid industrialization is expected to stimulate the growth of the regional residential battery storage system. However, relatively high prices of the battery energy storage systems are coupled with low solar penetration in the region is expected to boost the market in the forecast period.
The residential lithium ion battery energy storage systems market has been restricted due to the lack of favorable government regulations promoting the adoption of solar panels and energy storage in the region.
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Our clientele includes a mix of residential lithium-ion battery energy storage systems market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa residential lithium-ion battery energy storage systems market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa residential lithium-ion battery energy storage systems market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA residential lithium-ion battery energy storage systems market size, by country, 2018-2030 (US$M)
Middle East & Africa Residential Lithium-ion Battery Energy Storage Systems Market Outlook Share, 2022 & 2030 (US$M)
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