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APAC Solar Energy and Battery Storage Market
ID: MRFR/EnP/53937-HCR
200 Pages
June 2025
APAC Solar Energy and Battery Storage Market Research Report: By Application (Residential, Commercial, Utility), By Battery Type (Lithium-Ion, Lead-Acid, Flow Battery, Nickel-Cadmium), By Technology (Solar Photovoltaic, Concentrated Solar Power, Solar Thermal), By End Use (Grid-tied, Off-grid, Hybrid) andBy Regional (China, India, Japan, South Korea, Malaysia, Thailand, Indonesia, Rest of APAC)- Forecast to 2035 APAC Solar Energy and Battery Storage Market Overview: As per MRFR analysis, the APAC Solar Energy and Battery Storage Market Siz... read more
Industry Developments
Recent developments in the APAC Solar Energy and Battery Storage Market have been significantly dynamic, particularly with advancements in technology and policy support. Countries like China, India, and Japan are witnessing substantial growth in solar-generated electricity, spurred by government initiatives and increased investment in renewable energy technology. First Solar and LONGi Green Energy have fortified their positions in the market, with First Solar expanding its production capacity for solar panels. In terms of battery storage, CATL is making strides in the manufacturing of EV batteries, enhancing storage capabilities across the region. The merger and acquisition landscape has also seen notable activity; in May 2023, LG Energy Solution acquired a stake in a lithium mining operation, bolstering its supply chain for battery production. Furthermore, as of August 2023, SunPower announced a collaboration with Hanwha Q CELLS to develop integrated solar and storage solutions, reflecting an ongoing trend towards synergy among key players. In the past two years, the APAC solar market has seen more than 20% compound annual growth, significantly transforming energy regulations and setting ambitious targets for sustainability across the region.
Report Scope
Report Scope:
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2018 | 67.39(USD Billion) |
| MARKET SIZE 2024 | 74.92(USD Billion) |
| MARKET SIZE 2035 | 240.08(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 11.168% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Billion |
| KEY COMPANIES PROFILED | First Solar, SMA Solar Technology, LONGi Green Energy, Sharp, SunPower, Chilwee Energy Technology, CATL, Trina Solar, JinkoSolar, Tesla, Sungrow Power Supply, Enphase Energy, Risen Energy, LG Energy Solution, Hanwha Q CELLS |
| SEGMENTS COVERED | Application, Battery Type, Technology, End Use, Regional |
| KEY MARKET OPPORTUNITIES | Increasing renewable energy adoption, Government incentives for solar installations, Advancements in battery technology, Growing demand for energy storage, Rising utility-scale solar projects |
| KEY MARKET DYNAMICS | Government incentives and subsidies, Rising demand for renewable energy, Technological advancements in solar storage, Decreasing battery costs, Increasing energy efficiency regulations |
| COUNTRIES COVERED | China, India, Japan, South Korea, Malaysia, Thailand, Indonesia, Rest of APAC |
FAQs
What is the expected market size of the APAC Solar Energy and Battery Storage Market in 2024?
The APAC Solar Energy and Battery Storage Market is expected to be valued at 74.92 billion USD in 2024.
What is the projected market size for the APAC Solar Energy and Battery Storage Market by 2035?
By 2035, the projected market size for the APAC Solar Energy and Battery Storage Market is expected to reach 240.08 billion USD.
What is the expected compound annual growth rate (CAGR) for the APAC Solar Energy and Battery Storage Market from 2025 to 2035?
The expected CAGR for the APAC Solar Energy and Battery Storage Market from 2025 to 2035 is 11.168 percent.
Which country is expected to have the largest market share in the APAC Solar Energy and Battery Storage Market in 2024?
In 2024, China is expected to have the largest market share with a valuation of 40.0 billion USD.
How much is the Residential segment of the APAC Solar Energy and Battery Storage Market valued at in 2024?
The Residential segment is valued at approximately 22.0 billion USD in 2024.
What is the expected market value for the Commercial segment by 2035?
The Commercial segment is anticipated to reach a market value of 84.0 billion USD by 2035.
Which key players are dominating the APAC Solar Energy and Battery Storage Market?
Major players in the market include First Solar, LONGi Green Energy, CATL, and Tesla among others.
How much is the Utility segment of the APAC Solar Energy and Battery Storage Market valued at for the year 2024?
The Utility segment is valued at around 26.92 billion USD in 2024.
What is the projected market growth for India in the APAC Solar Energy and Battery Storage Market by 2035?
India's market is expected to grow to 50.0 billion USD by 2035.
What are the emerging trends driving growth in the APAC Solar Energy and Battery Storage Market?
Key emerging trends include advancements in battery technology, increasing government support, and growing environmental awareness.
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