Market share; Lithium batteries are rapidly developing (with mature technology and declining costs). Due to the impact of battery life, replacement and modification occupy the main market, with a market share of approximately 76.8% in 2020; Lithium batteries are currently mainly used in the aftermarket. RV energy storage is accompanied by the distribution of RV shipments, and currently the main market is Europe and America. With the iterative upgrade of the energy storage system, there is a great opportunity for RV energy storage, and the theoretical ceiling of the RV light storage market is expected to be 193.9 billion US dollars.
Home energy storage market: Large overseas space, strong pain points for emergency power generation
According to QY Research, the global portable generator market size was approximately 18.7 billion in 2020, reaching 30.4 billion by 2026, with a CAGR of 7.2%. At present, the pain points of electricity consumption for overseas users are as follows: ① The overseas power grid is relatively less stable than the domestic power grid and the cost of electricity consumption is high. The American Society of Civil Engineers reported more than 3500 total exports in 2015, last on an average of 49 minutes. ② To address this issue, overseas households are generally equipped with emergency power generation devices, which have the disadvantages of high cost, high noise, and high pollution. Advantages of household energy storage: stable electricity consumption+low cost, with policy subsidies.
At present, the main development market for home energy storage is in Europe, and the foundation of home energy storage systems is mainly electrochemical energy storage. According to the accumulated data of CNESA in 2018, the electrochemical energy storage user side dominates, accounting for 32.6%. Electrochemical energy storage can be further divided into lithium-ion batteries and lead-acid batteries, with lithium-ion batteries dominating; According to CNESA data in 2022, lithium-ion batteries accounted for 88.8% and lead-acid batteries accounted for 10%. According to the announcement by the China Research Institute of Industry that the household energy storage market size was 7.5 billion US dollars in 2020, and the announcement by BNEF that the cost of household energy storage systems in 2020 was 431 US dollars per kilowatt hour, it can be estimated that the installed capacity of household energy storage in 2020 will be approximately 17.4 GWh. Based on the global number of households and the average demand for household energy storage capacity (assuming 15 kWh), we can conclude that the theoretical market space is at least over 1000 GWh, which is huge.
Post time: Jun-29-2023