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North America Lithium Ion Solar Energy Storage Market
Updated On

Jan 22 2025

Total Pages

100

North America Lithium Ion Solar Energy Storage Market Growth Opportunities and Market Forecast 2025-2033: A Strategic Analysis

North America Lithium Ion Solar Energy Storage Market by Capacity (≤ 50 kW, 51 to 250 kW, 251 to 500 kW, 501 to 1, 000 kW, 1, 001 to 2, 500 kW, 2, 501 to 5, 000 kW, 5, 001 to 10, 000 kW, > 10, 000 kW), by Installation (On-Grid, Off-Grid), by Application (Residential, Commercial & Industrial, Utility), by North America (U.S., Canada) Forecast 2025-2033

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North America Lithium Ion Solar Energy Storage Market Growth Opportunities and Market Forecast 2025-2033: A Strategic Analysis

The size of the North America Lithium Ion Solar Energy Storage Market was valued at USD XX Billion in 2024 and is projected to reach USD XX Billion by 2033, with an expected CAGR of 12.1% during the forecast period.The North America Lithium Ion Solar Energy Storage Market is witnessing rapid growth, driven by increasing adoption of renewable energy solutions and the need for reliable energy storage systems. Lithium-ion batteries play a crucial role in solar energy storage, enabling grid stability and ensuring energy availability during periods of low sunlight.The U.S. leads the market, supported by federal incentives for renewable energy projects and the growing adoption of residential and commercial solar energy systems. Canada also contributes significantly, focusing on clean energy initiatives and off-grid applications.Key trends include declining battery costs, advancements in energy density, and the integration of smart energy management systems. Challenges such as recycling and raw material supply constraints persist, but ongoing research and development are mitigating these issues.With increasing emphasis on decarbonization and energy independence, the market is expected to grow significantly in the coming years.

North America Lithium Ion Solar Energy Storage Market Research Report - Market Size, Growth & Forecast

North America Lithium Ion Solar Energy Storage Market Concentration & Characteristics

The market displays a moderate level of concentration, with key players holding significant market shares. Innovation is a defining characteristic, driven by continuous research and development efforts to enhance battery efficiency, reduce costs, and expand storage capacity. Government regulations play a pivotal role in shaping the market, setting standards for safety, performance, and environmental compliance. The absence of viable product substitutes further strengthens the market's position.

North America Lithium Ion Solar Energy Storage Market Trends

The market is witnessing a surge in demand for grid-scale energy storage systems to balance intermittent renewable energy sources and enhance grid stability. Additionally, the growing popularity of electric vehicles (EVs) and the need for charging infrastructure are driving the adoption of lithium-ion batteries for residential and commercial applications. Technological advancements, such as the development of solid-state batteries, hold significant promise for further market growth.

North America Lithium Ion Solar Energy Storage Market Growth

Key Region or Country & Segment to Dominate the Market

The United States is the dominant market in North America, accounting for the largest share due to its robust renewable energy industry and government support for energy storage initiatives. The commercial & industrial segment is expected to witness the fastest growth in the coming years, driven by the increasing demand for uninterrupted power supply and the need to reduce operating costs.

North America Lithium Ion Solar Energy Storage Market Product Insights Report Coverage & Deliverables

The report provides comprehensive insights into the North American lithium-ion solar energy storage market, including market size, growth rate, key trends, and competitive landscape. It covers various aspects such as market segmentation, regional analysis, and industry dynamics.

North America Lithium Ion Solar Energy Storage Market Analysis

The market size is projected to reach USD 35.6 billion by 2027, driven by the increasing adoption of renewable energy, government incentives, and technological advancements. Key players are strategically investing in research and development to maintain their market share and meet rising demand.

North America Lithium Ion Solar Energy Storage Market Regional Insights

  • United States:
    • Leading market with strong government support and a significant renewable energy sector
    • Key states include California, Texas, and New York
  • Canada:
    • Growing market with increasing focus on sustainability
    • Key provinces include Ontario and Quebec

Driving Forces: What's Propelling the North America Lithium Ion Solar Energy Storage Market

  • Rising demand for renewable energy integration
  • Government incentives and subsidies
  • Declining battery costs
  • Technological advancements
  • Increasing adoption of EVs and charging infrastructure

Challenges and Restraints in North America Lithium Ion Solar Energy Storage Market

  • Supply chain disruptions and raw material price fluctuations
  • Safety concerns associated with lithium-ion batteries
  • Grid integration challenges
  • Competition from other storage technologies

Emerging Trends in North America Lithium Ion Solar Energy Storage Market

  • Development of solid-state batteries
  • Integration of artificial intelligence (AI) and machine learning for battery management
  • Demand for long-duration energy storage systems
  • Growing adoption of microgrids and distributed energy systems

North America Lithium Ion Solar Energy Storage Industry News

  • March 2024: Schneider Electric and Hy Stor Energy partner to advance the Mississippi Clean Hydrogen Hub, providing safety and automation solutions for hydrogen storage.
  • December 2023: Leclanché SA unveils plans for a solar and storage project in St. Kitts, with 35.7 MW of solar capacity and 43.6 MWh of battery storage.

Leading Players in the North America Lithium Ion Solar Energy Storage Market

North America Lithium Ion Solar Energy Storage Market Segmentation

  • 1. Capacity
    • 1.1. ≤ 50 kW
    • 1.2. 51 to 250 kW
    • 1.3. 251 to 500 kW
    • 1.4. 501 to 1,000 kW
    • 1.5. 1,001 to 2,500 kW
    • 1.6. 2,501 to 5,000 kW
    • 1.7. 5,001 to 10,000 kW
    • 1.8. > 10,000 kW
  • 2. Installation
    • 2.1. On-Grid
    • 2.2. Off-Grid
  • 3. Application
    • 3.1. Residential
    • 3.2. Commercial & Industrial
    • 3.3. Utility

North America Lithium Ion Solar Energy Storage Market Segmentation By Geography

  • 1. North America
    • 1.1. U.S.
    • 1.2. Canada

North America Lithium Ion Solar Energy Storage Market Regional Share

North America Lithium Ion Solar Energy Storage Market REPORT HIGHLIGHTS

AspectsDetails
Study Period 2019-2033
Base Year 2024
Estimated Year 2025
Forecast Period2025-2033
Historical Period2019-2024
Growth RateCAGR of 12.1% from 2019-2033
Segmentation
    • By Capacity
      • ≤ 50 kW
      • 51 to 250 kW
      • 251 to 500 kW
      • 501 to 1,000 kW
      • 1,001 to 2,500 kW
      • 2,501 to 5,000 kW
      • 5,001 to 10,000 kW
      • > 10,000 kW
    • By Installation
      • On-Grid
      • Off-Grid
    • By Application
      • Residential
      • Commercial & Industrial
      • Utility
  • By Geography
    • North America
      • U.S.
      • Canada
Table Of Content
  1. 1. Introduction
    • 1.1. Research Scope
    • 1.2. Market Segmentation
    • 1.3. Research Methodology
    • 1.4. Definitions and Assumptions
  2. 2. Executive Summary
    • 2.1. Introduction
  3. 3. Market Dynamics
    • 3.1. Introduction
      • 3.2. Market Drivers
        • 3.2.1 Declining battery costs
        • 3.2.2 Favourable regulations toward sustainable energy
        • 3.2.3 Increasing electricity demand
      • 3.3. Market Restrains
        • 3.3.1. Availability of alternative technologies
      • 3.4. Market Trends
  4. 4. Market Factor Analysis
    • 4.1. Porters Five Forces
    • 4.2. Supply/Value Chain
    • 4.3. PESTEL analysis
    • 4.4. Market Entropy
    • 4.5. Patent/Trademark Analysis
  5. 5. North America Lithium Ion Solar Energy Storage Market Analysis, Insights and Forecast, 2019-2031
    • 5.1. Market Analysis, Insights and Forecast - by Capacity
      • 5.1.1. ≤ 50 kW
      • 5.1.2. 51 to 250 kW
      • 5.1.3. 251 to 500 kW
      • 5.1.4. 501 to 1,000 kW
      • 5.1.5. 1,001 to 2,500 kW
      • 5.1.6. 2,501 to 5,000 kW
      • 5.1.7. 5,001 to 10,000 kW
      • 5.1.8. > 10,000 kW
    • 5.2. Market Analysis, Insights and Forecast - by Installation
      • 5.2.1. On-Grid
      • 5.2.2. Off-Grid
    • 5.3. Market Analysis, Insights and Forecast - by Application
      • 5.3.1. Residential
      • 5.3.2. Commercial & Industrial
      • 5.3.3. Utility
    • 5.4. Market Analysis, Insights and Forecast - by Region
      • 5.4.1. North America
  6. 6. Competitive Analysis
    • 6.1. Market Share Analysis 2024
      • 6.2. Company Profiles
        • 6.2.1 ABB
          • 6.2.1.1. Overview
          • 6.2.1.2. Products
          • 6.2.1.3. SWOT Analysis
          • 6.2.1.4. Recent Developments
          • 6.2.1.5. Financials (Based on Availability)
        • 6.2.2 BMW Group
          • 6.2.2.1. Overview
          • 6.2.2.2. Products
          • 6.2.2.3. SWOT Analysis
          • 6.2.2.4. Recent Developments
          • 6.2.2.5. Financials (Based on Availability)
        • 6.2.3 BYD Company
          • 6.2.3.1. Overview
          • 6.2.3.2. Products
          • 6.2.3.3. SWOT Analysis
          • 6.2.3.4. Recent Developments
          • 6.2.3.5. Financials (Based on Availability)
        • 6.2.4 ENERSYS
          • 6.2.4.1. Overview
          • 6.2.4.2. Products
          • 6.2.4.3. SWOT Analysis
          • 6.2.4.4. Recent Developments
          • 6.2.4.5. Financials (Based on Availability)
        • 6.2.5 ESS
          • 6.2.5.1. Overview
          • 6.2.5.2. Products
          • 6.2.5.3. SWOT Analysis
          • 6.2.5.4. Recent Developments
          • 6.2.5.5. Financials (Based on Availability)
        • 6.2.6 Honeywell International
          • 6.2.6.1. Overview
          • 6.2.6.2. Products
          • 6.2.6.3. SWOT Analysis
          • 6.2.6.4. Recent Developments
          • 6.2.6.5. Financials (Based on Availability)
        • 6.2.7 Huawei
          • 6.2.7.1. Overview
          • 6.2.7.2. Products
          • 6.2.7.3. SWOT Analysis
          • 6.2.7.4. Recent Developments
          • 6.2.7.5. Financials (Based on Availability)
        • 6.2.8 Leclanché SA
          • 6.2.8.1. Overview
          • 6.2.8.2. Products
          • 6.2.8.3. SWOT Analysis
          • 6.2.8.4. Recent Developments
          • 6.2.8.5. Financials (Based on Availability)
        • 6.2.9 LG Electronics
          • 6.2.9.1. Overview
          • 6.2.9.2. Products
          • 6.2.9.3. SWOT Analysis
          • 6.2.9.4. Recent Developments
          • 6.2.9.5. Financials (Based on Availability)
        • 6.2.10 Maxwell Technologies
          • 6.2.10.1. Overview
          • 6.2.10.2. Products
          • 6.2.10.3. SWOT Analysis
          • 6.2.10.4. Recent Developments
          • 6.2.10.5. Financials (Based on Availability)
        • 6.2.11 NextEra Energy
          • 6.2.11.1. Overview
          • 6.2.11.2. Products
          • 6.2.11.3. SWOT Analysis
          • 6.2.11.4. Recent Developments
          • 6.2.11.5. Financials (Based on Availability)
        • 6.2.12 Panasonic
          • 6.2.12.1. Overview
          • 6.2.12.2. Products
          • 6.2.12.3. SWOT Analysis
          • 6.2.12.4. Recent Developments
          • 6.2.12.5. Financials (Based on Availability)
        • 6.2.13 Primus Power
          • 6.2.13.1. Overview
          • 6.2.13.2. Products
          • 6.2.13.3. SWOT Analysis
          • 6.2.13.4. Recent Developments
          • 6.2.13.5. Financials (Based on Availability)
        • 6.2.14 SAMSUNG SDI CO.
          • 6.2.14.1. Overview
          • 6.2.14.2. Products
          • 6.2.14.3. SWOT Analysis
          • 6.2.14.4. Recent Developments
          • 6.2.14.5. Financials (Based on Availability)
        • 6.2.15 Schneider Electric
          • 6.2.15.1. Overview
          • 6.2.15.2. Products
          • 6.2.15.3. SWOT Analysis
          • 6.2.15.4. Recent Developments
          • 6.2.15.5. Financials (Based on Availability)
        • 6.2.16 Siemens Energy
          • 6.2.16.1. Overview
          • 6.2.16.2. Products
          • 6.2.16.3. SWOT Analysis
          • 6.2.16.4. Recent Developments
          • 6.2.16.5. Financials (Based on Availability)
        • 6.2.17 Tesla
          • 6.2.17.1. Overview
          • 6.2.17.2. Products
          • 6.2.17.3. SWOT Analysis
          • 6.2.17.4. Recent Developments
          • 6.2.17.5. Financials (Based on Availability)
        • 6.2.18 Toshiba Corporation
          • 6.2.18.1. Overview
          • 6.2.18.2. Products
          • 6.2.18.3. SWOT Analysis
          • 6.2.18.4. Recent Developments
          • 6.2.18.5. Financials (Based on Availability)
List of Figures
  1. Figure 1: North America Lithium Ion Solar Energy Storage Market Revenue Breakdown (Billion, %) by Product 2024 & 2032
  2. Figure 2: North America Lithium Ion Solar Energy Storage Market Share (%) by Company 2024
List of Tables
  1. Table 1: North America Lithium Ion Solar Energy Storage Market Revenue Billion Forecast, by Region 2019 & 2032
  2. Table 2: North America Lithium Ion Solar Energy Storage Market Revenue Billion Forecast, by Capacity 2019 & 2032
  3. Table 3: North America Lithium Ion Solar Energy Storage Market Revenue Billion Forecast, by Installation 2019 & 2032
  4. Table 4: North America Lithium Ion Solar Energy Storage Market Revenue Billion Forecast, by Application 2019 & 2032
  5. Table 5: North America Lithium Ion Solar Energy Storage Market Revenue Billion Forecast, by Region 2019 & 2032
  6. Table 6: North America Lithium Ion Solar Energy Storage Market Revenue Billion Forecast, by Capacity 2019 & 2032
  7. Table 7: North America Lithium Ion Solar Energy Storage Market Revenue Billion Forecast, by Installation 2019 & 2032
  8. Table 8: North America Lithium Ion Solar Energy Storage Market Revenue Billion Forecast, by Application 2019 & 2032
  9. Table 9: North America Lithium Ion Solar Energy Storage Market Revenue Billion Forecast, by Country 2019 & 2032
  10. Table 10: U.S. North America Lithium Ion Solar Energy Storage Market Revenue (Billion) Forecast, by Application 2019 & 2032
  11. Table 11: Canada North America Lithium Ion Solar Energy Storage Market Revenue (Billion) Forecast, by Application 2019 & 2032

STEP 1 - Identification of Relevant Samples Size from Population Database

Step Chart
bar chart
method chart

STEP 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

approach chart
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segemnts, product and application.

Note* : In applicable scenarios

STEP 3 - Data Sources

Primary Research

  • Web Analytics
  • Survey Reports
  • Research Institute
  • Latest Research Reports
  • Opinion Leaders

Secondary Research

  • Annual Reports
  • White Paper
  • Latest Press Release
  • Industry Association
  • Paid Database
  • Investor Presentations
approach chart

STEP 4 - Data Triangulation

Involves using different sources of information in order to increase the validity of a study

These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally after gathering mix and scattered data from wide range of sources, data is triangull- ated and correlated to come up with estimated figures which are further validated through primary mediums, or industry experts, opinion leader.

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