Solar Battery Market to Hit $360.4 Million by 2027 at 15.5% CAGR

Asia-Pacific Leads Solar Battery Market Growth with 40% Share 🌏💡

WILMINGTON, DE, UNITED STATES, September 10, 2025 /EINPresswire.com/ --

The global solar battery market is experiencing significant momentum, projected to grow from $113.4 million in 2019 to $360.4 million by 2027. This represents a remarkable CAGR of 15.5% from 2020 to 2027, according to a new report by Allied Market Research titled “Solar Battery Market by Type and End-User: Global Opportunity Analysis and Industry Forecast, 2020–2027.”

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Why Solar Battery Market is Booming 🌞🔋

Solar batteries are essential for storing solar power and discharging it as needed. These batteries, primarily lithium ion or lead acid, play a pivotal role in solar cell systems by storing excess energy. Applications include solar charging stations, off-grid storage solutions, and power plant energy storage systems.

A key driver of solar battery market growth is the global push for sustainable energy solutions. Governments worldwide are actively promoting renewable energy adoption, significantly raising the demand for solar power batteries. By integrating solar battery systems, countries aim to reduce reliance on imported fossil fuels like coal and oil, while fostering local green energy employment opportunities and investment avenues.

Market Segmentation Insights 💡

By Type

Lithium ion batteries led the market in 2019, thanks to their high charge and discharge efficiency. Lithium ion batteries typically operate at 90–95% efficiency, far surpassing the 80–85% efficiency of lead acid batteries. However, the lead acid battery segment is projected to record the highest CAGR of 17.8% during the forecast period, driven by its affordability and broad industrial applications.

By End-User

The industrial segment dominated the market in 2019, accounting for more than 40% of the total revenue share. The surge in industrial demand stems from the growing need for additional energy storage solutions to ensure uninterrupted operations. Furthermore, government incentives and tax credit schemes are expected to attract new industrial end-users, fueling future growth.

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By Region 🌏

Asia-Pacific emerged as the dominant region, holding over 40% of the market share in 2019. Governments in countries like China, India, and South Korea are increasingly focusing on renewable energy storage as a national priority. China’s position as the world’s largest solar power producer further drives the demand for solar batteries in the region.

Impact of COVID-19 on Solar Battery Market 😷

The COVID-19 pandemic brought both challenges and opportunities to the solar battery market. Social distancing norms and manpower shortages led to project delays and cancellations. Consumer spending plummeted during lockdowns, directly impacting demand for solar products and storage solutions. Additionally, heavy reliance on Chinese exports worsened the situation, as Chinese manufacturing was largely paused for several months, severely affecting supply chains in countries like India.

However, the pandemic accelerated the adoption of remote working solutions, which emerged as a key market recovery strategy. Automation companies provided remote access to field operators, service engineers, and control room livestreams, improving real-time process data monitoring and operational insights. This shift is expected to offer new solar battery market opportunities in the post-COVID era.

Key Market Players 🚀

Prominent companies operating in the solar battery industry include:

BYD Company

Kokam.Co

Carnegie Clean Energy

Primus Power

LG Chem

EnerSys

These key players are actively expanding business portfolios, pursuing mergers and acquisitions, and adopting technological innovations to sustain competitive market positioning.

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Future Outlook 🌟

The solar battery market is set for strong growth, driven by the rising global emphasis on renewable energy and sustainability. Government support, industrial demand, and emerging markets in Asia-Pacific will remain the backbone of this growth. The lead acid battery segment is expected to thrive due to its affordability, while lithium ion will remain popular for high-efficiency needs.

As countries ramp up renewable energy adoption and green policies, the solar battery market’s role in stabilizing energy grids and reducing carbon footprints will be pivotal. By 2027, solar batteries will not only power homes and industries but also play a crucial role in achieving global energy security and sustainability goals.

🔋 The solar battery market is not just a growing industry—it’s a green revolution in energy storage solutions. 🌱⚡

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Market Research
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