Energy Storage Inverters Market Size, Share, and Growth Analysis, By Product Type (Single-Phase Electric Power, Three-Phase Electric Power), By Application (Residential, Commercial), By Power Rating, By End-User, By Region - Industry Forecast 2025-2032

Global Energy Storage Inverters Market size was valued at USD 12.2 billion in 2023 and is poised to grow from USD 13.31 billion in 2024 to USD 26.72 billion by 2032, growing at a CAGR of 9.1% during the forecast period (2025-2032).

The global energy storage inverter market is poised for significant growth as the demand for efficient and sustainable energy solutions surges, driven by the transition away from fossil fuels and efforts to reduce carbon emissions. With the rising popularity of renewable energy sources, firms like SMA Solar Technology AG are seizing the opportunity to innovate. The introduction of their Sunny Boy Storage inverter in 2021 exemplifies this trend, catering to residential and small commercial sectors and compatible with various battery technologies. The escalating necessity for reliable power converters and the increasing reliance on battery storage solutions underscore the market's potential, particularly as grid-forming inverters step in to fulfill essential system services traditionally provided by thermal plants.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Energy Storage Inverters market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Energy Storage Inverters Market Segments Analysis

Global Energy Storage Inverters Market is segmented by Product Type, Application, Power Rating, End-User and region. Based on Product Type, the market is segmented into Single-Phase Electric Power and Three-Phase Electric Power. Based on Application, the market is segmented into Residential, Commercial, Industrial and Utility-Scale. Based on Power Rating, the market is segmented into Less than 10 kW, 10-30 kW, 30-100 kW and Above 100 kW. Based on End-User, the market is segmented into Utilities, Commercial & Industrial and Residential. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Global Energy Storage Inverters Market

The global push for renewable energy has been significantly bolstered by various governments implementing supportive policies, subsidies, and incentives. This proactive stance has fostered a conducive regulatory framework that promotes the expansion of the energy storage inverter market. As countries increasingly advocate for the integration of renewable energy technologies, the demand for efficient energy storage solutions has surged, driving the market's growth. This environment not only encourages the uptake of renewable energy sources but also accelerates the innovation and deployment of energy storage inverters, which are crucial for optimizing energy use and enhancing grid stability.

Restraints in the Global Energy Storage Inverters Market

The Global Energy Storage Inverters market encounters significant challenges due to competition from alternative energy storage solutions like pumped hydro and compressed air energy storage. These established technologies can hinder the market's expansion, especially in regions where they are well-integrated and widely utilized. As a result, the presence of these competing technologies may restrict the adoption of energy storage inverters, making it difficult for them to penetrate markets where traditional methods dominate. Consequently, this rivalry poses a constraint on the overall growth potential of the energy storage inverters market, affecting its future development and investment opportunities.

Market Trends of the Global Energy Storage Inverters Market

The Global Energy Storage Inverters market is experiencing significant growth, driven by the rising adoption of microgrids, especially in remote and off-grid regions. As these localized energy systems gain traction, they offer a dependable and economically viable power source, necessitating advanced energy storage inverters to ensure stability and efficiency. These inverters play a pivotal role in managing fluctuations in energy supply and providing backup power during outages, making them indispensable for the successful operation of microgrids. The increasing emphasis on renewable energy integration and energy independence further fuels demand, positioning energy storage inverters as a vital element in the evolving energy landscape.