Battery Storage Inverter Market is estimated to be US$ 6.65 billion by 2030 with a CAGR of 16.4% during the forecast period

Published Date: May 2023

A battery storage inverter is a grid-connected inverter that can also function as a bi-directional inverter. Battery storage inverters are mostly used in commercial, residential and utility-scale sectors. Presently this inverter is used in photovoltaic power generation sector.

The revenue of the battery storage market will increase during the forecast period as the market is poised to witness significant growth during this period. The growth of the battery storage inverter market during this period is attributed to several factors such as increasing demand for sustainable power supply followed by increased demand for DC/AC inverters clustered around substations or storage batteries.

The report “Battery Storage Inverter Market, By Type (Single-Phase Electric Power, Three-Phase Low Power (10 kW to 35 kW), Three-Phase Medium Power (36 kW to 250 kW), and Three-Phase High Power (251 kW )), By Application (Residential, Commercial, and Utility Scale), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) - Trends, Analysis, and Forecast till 2029”

Key Highlights:

  • In August 2022, Kehua Tech launched its latest all-in-one residential energy system, the iStorageE series. By incorporating a hybrid inverter and battery pack, iStorageE provides users with a simple, safe and smart solution to increase home power security.
  • In June 2022, battery manufacturer, Natural Battery Technologies announced a lithium0ion (Li-ion) based inverter battery for home and commercial use that doubles as a solar-energy storage system. It can act as a small household inverter for a large-scale grid energy storage system.
  • In October 2022, AUTEL launched new energy storage solutions for energy storage systems, commercial and industrial applications and residential uses at eMove360 Degrees Europe 2022.

Analyst View:

The market will be influenced by a number of factors, including a decline in the price per watt of energy storage capacity, an increase in investments and funding for renewable electricity projects, government initiatives aimed at increasing the use of battery storage systems in power generation, etc. In order to meet the growing demand for energy storage systems, substantial initial capital expenditures are necessary, which limits the supply of affordable batteries with the necessary properties, such as a long life cycle, a good depth of discharge capability, or both.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Battery Storage Inverter Market , By Type (Single-Phase Electric Power, Three-Phase Low Power (10 kW to 35 kW), Three-Phase Medium Power (36 kW to 250 kW), and Three-Phase High Power (251 kW )), By Application (Residential, Commercial, and Utility Scale), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) - Trends, Analysis, and Forecast till 2029

Key Market Insights from the report:

Battery Storage Inverter Market accounted for US$ 1.4 billion in 2020 and is estimated to be US$ 6.65 billion by 2030 and is anticipated to register a CAGR of 16.4%. The Battery Storage Inverter market is segmented based on type, Application and region.

  • Based on Type, Battery Storage Inverter market is segmented into Single Phase Electric Power, Three Phase Low Power(10KW to 35KW ),Three-Phase Medium Power (36KW to250KW), and Three Phase High Power (251KW ).
  • Based on Application, Battery Storage Inverter market is segmented into Residential, Commercial and Utility Scale.
  • Based on By Region, the Battery Storage Inverter market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Battery Storage Inverter Market:

The prominent players operating in the Battery Storage Inverter Market include Dynapower Company, LLC, Robert Bosch GmbH, SMA Solar Technology AG, KACO new energy GmbH, Parker-Hannifin Corporation, ABB Ltd., Princeton Power Systems, Inc., Eaton Corporation, Sungrow Power Supply Co. Ltd., Guangdong Zhicheng Champion Group Co., Ltd., Schneider Electric S.E., SolarEdge Technologies, Inc., and Huawei Technologies Co., Ltd.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning

Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.

Detailed analysis of the market revenue over the forecasted period.

Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.

Study on the segments that are anticipated to dominate the market.

Study on the regional analysis that is expected to register the highest growth over the forecast period

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