Global Battery Storage Inverter Market Highlights
The Global Battery Storage Inverter Market Size is expected to cross USD 45.27 billion, at a CAGR of 11.45% during the forecast period 2022-2030.
Our Market Overview and Regional Analysis provide an understanding of the industries, companies and products within the market. Our Trends section provides an analysis of how the market is currently performing and looks set to perform in the future. Our Growth Forecast section gives you an idea about how our Market Analysis works, by giving us further details on how we can build our Market Forecast model for a particular domain within this report. Lastly, in our Metrics section we outline important data points relating to each of these sections as well as our current forecasted price range.
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In 2018, Asia-Pacific dominated the global battery storage inverter market in terms of share: MRFR
The battery storage inverter market in North America is dominated by the US, owing to the increasing need for battery storage inverter market to support electrical grids, especially under highly stressed conditions and to avoid power blackouts in the country. For instance, in 2015, 221 MW of storage capacity was installed in the US. Such developments are expected to drive the battery storage inverter market in the US during the forecast period.
The battery storage inverter market in Europe is expected to be dominated by Germany owing to the increase in storage requirements in data centers in the country.
The battery storage inverter market in South America is dominated by Brazil due to the rising demand for renewable energy, which has contributed to the growth of the battery storage inverter market in the last few years, and this growth is expected to continue over the forecast period.
The global battery storage inverter market has been segmented based on type, application, and region. Based on type, the global market is divided into single-phase electric power and three-phase electric power. The single-phase electric power segment is expected to dominate the global market and is likely to grow with the highest CAGR. Based on the application, the global market is segmented as utility-scale, commercial, and residential. The utility-scale segment is expected to grow with the highest CAGR during the forecast period.
Market Segmentation:
- Type
- Single-Phase Electric Power
- Three-Phase Electric Power
- Application
- Utility Scale
- Commercial
- Residential
- By Region
- North America
- Asia-Pacific
- Europe
- Middle East & Africa
- South America
Key Players
The key players operating in the Global Battery Storage Inverter Market are SUNGROW (China), Zhicheng Champion (China), Robert Bosch GmbH (Germany), Parker-Hannifin Corporation (US), KACO (Germany), ABB (Switzerland), CLOU (China), TRIED (US), Dynapower (US), Princeton (US), SMA (Germany), and Eaton (Ireland).
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