Global Battery Storage Inverter Market Size Study, by Types (Single-Phase Electric Power, Three-Phase Electric Power), by End-Use Industry (Residential, Commercial, Utility Scale), and Regional Forecasts 2022-2032

Description

Global Battery Storage Inverter Market is valued at approximately USD 3.05 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 8.8% over the forecast period 2024-2032. Battery storage inverters, also known as battery inverters or hybrid inverters, are crucial components in energy storage systems, converting direct current (DC) electricity from batteries into alternating current (AC) electricity. This conversion enables the efficient use and integration of stored energy into most electrical systems. Modern battery storage inverters are designed to optimize self-consumption, manage battery charging and discharging, and provide data monitoring capabilities through mobile apps or web interfaces. These inverters minimize energy losses during the conversion process, ensuring high efficiency and reliability.

The surge in demand for clean energy, driven by the global transition towards renewable energy sources such as solar and wind power, propels the growth of the battery storage inverter market. These inverters are essential for storing and managing the intermittent electricity generated by renewable sources, ensuring a steady and reliable power supply. Moreover, advancements in battery technology, economies of scale, and increased competition have reduced the costs of battery storage systems, making them more affordable for residential, commercial, and utility-scale applications. As battery storage inverters become more economically viable, homeowners and businesses seek energy independence and resilience against power outages, further driving market growth.

The residential sector has witnessed significant growth in solar photovoltaic (PV) installations, fueled by technological advancements and cost reductions. Battery storage inverters enable homeowners to store excess solar energy, providing backup power during grid outages and optimizing energy usage during high-demand periods. This enhances energy security and reduces electricity bills, contributing to the market expansion. However, environmental concerns related to industrial discharges and solid wastes pose challenges to the battery storage inverter industry. Despite these challenges, favorable government policies and initiatives aimed at promoting renewable energy and energy storage solutions present lucrative opportunities for market growth.

The key regions considered for the global Battery Storage Inverter Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-Pacific is a dominating region in the Battery Storage Inverter Market in terms of revenue. Many countries in the region have set ambitious renewable energy targets to reduce greenhouse gas emissions and enhance energy security. Battery storage inverters play a vital role in integrating intermittent renewable sources like solar and wind into the grid, supporting the region's renewable energy goals. The market in North America is also expected to witness significant growth, driven by increasing investments in renewable energy infrastructure and supportive government policies.

Major market players included in this report are:

Sensata Technologies, Inc.
SMA Solar Technology AG
SUNGROW
Ingeteam
Eaton
Poweroneups
Guangdong Zhicheng Champion Group Co., Ltd.
SolaX Power
KACO new energy
GOODWE

The detailed segments and sub-segment of the market are explained below:

By Type:

Single-Phase Electric Power
Three-Phase Electric Power

By End Use Industry:

Residential
Commercial
Utility Scale

By Region:

North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
Latin America
- Brazil
- Mexico
- RoLA
Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Battery Storage Inverter Market Executive Summary

1.1. Global Battery Storage Inverter Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Type
- 1.3.2. By End-Use Industry
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Battery Storage Inverter Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Battery Storage Inverter Market Dynamics

3.1. Market Drivers
- 3.1.1. Increase in Demand for Clean Energy
- 3.1.2. Advancements in Battery Technology
- 3.1.3. Growing Adoption in Residential Sector
3.2. Market Challenges
- 3.2.1. Environmental Concerns
- 3.2.2. High Initial Investment Costs
3.3. Market Opportunities
- 3.3.1. Government Initiatives and Support
- 3.3.2. Technological Innovations
- 3.3.3. Expansion in Emerging Markets

Chapter 4. Global Battery Storage Inverter Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Battery Storage Inverter Market Size & Forecasts by Type 2022-2032

5.1. Segment Dashboard
5.2. Global Battery Storage Inverter Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Single-Phase Electric Power
- 5.2.2. Three-Phase Electric Power

Chapter 6. Global Battery Storage Inverter Market Size & Forecasts by End-Use Industry 2022-2032

6.1. Segment Dashboard
6.2. Global Battery Storage Inverter Market: End-Use Industry Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Residential
- 6.2.2. Commercial
- 6.2.3. Utility Scale

Chapter 7. Global Battery Storage Inverter Market Size & Forecasts by Region 2022-2032

7.1. North America Battery Storage Inverter Market
- 7.1.1. U.S. Battery Storage Inverter Market
  - 7.1.1.1. Type breakdown size & forecasts, 2022-2032
  - 7.1.1.2. End-Use Industry breakdown size & forecasts, 2022-2032
- 7.1.2. Canada Battery Storage Inverter Market
7.2. Europe Battery Storage Inverter Market
- 7.2.1. U.K. Battery Storage Inverter Market
- 7.2.2. Germany Battery Storage Inverter Market
- 7.2.3. France Battery Storage Inverter Market
- 7.2.4. Spain Battery Storage Inverter Market
- 7.2.5. Italy Battery Storage Inverter Market
- 7.2.6. Rest of Europe Battery Storage Inverter Market
7.3. Asia-Pacific Battery Storage Inverter Market
- 7.3.1. China Battery Storage Inverter Market
- 7.3.2. India Battery Storage Inverter Market
- 7.3.3. Japan Battery Storage Inverter Market
- 7.3.4. Australia Battery Storage Inverter Market
- 7.3.5. South Korea Battery Storage Inverter Market
- 7.3.6. Rest of Asia Pacific Battery Storage Inverter Market
7.4. Latin America Battery Storage Inverter Market
- 7.4.1. Brazil Battery Storage Inverter Market
- 7.4.2. Mexico Battery Storage Inverter Market
- 7.4.3. Rest of Latin America Battery Storage Inverter Market
7.5. Middle East & Africa Battery Storage Inverter Market
- 7.5.1. Saudi Arabia Battery Storage Inverter Market
- 7.5.2. South Africa Battery Storage Inverter Market
- 7.5.3. Rest of Middle East & Africa Battery Storage Inverter Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. Sensata Technologies, Inc.
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Market Strategies
- 8.3.2. SMA Solar Technology AG
- 8.3.3. SUNGROW
- 8.3.4. Ingeteam
- 8.3.5. Eaton
- 8.3.6. Poweroneups
- 8.3.7. Guangdong Zhicheng Champion Group Co., Ltd.
- 8.3.8. SolaX Power
- 8.3.9. KACO new energy
- 8.3.10. GOODWE

Chapter 9. Research Process

9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes