Global Energy Storage Inverters Market Size, Share, Growth Analysis, By Applications(Residential, Commercial), By Type(Central, String)

Description

Global Energy Storage Inverters Market size was valued at USD 10.48 Billion in 2022 and is poised to grow from USD 11.37 Billion in 2023 to USD 21.84 Billion by 2031, at a CAGR of 8.50% during the forecast period (2024-2031).

The global energy storage inverter market serves to offer effective and sustainable solutions for storing energy, aiming to reduce reliance on fossil fuels and cut down carbon emissions. With the increasing adoption of renewable energy sources, there's a rising demand for energy storage solutions like inverters, presenting opportunities for companies such as SMA Solar Technology AG to innovate and introduce new technologies to meet this demand. In 2021, SMA Solar Technology AG unveiled its Sunny Boy Storage inverter tailored for residential and small commercial energy storage systems. This inverter is adaptable to various battery technologies, including lithium-ion and lead-acid batteries, ensuring a dependable and efficient energy storage solution for households and businesses alike. The market holds significant potential, driven by the growing necessity for reliable power source converters, and is expected to witness substantial growth in the coming years due to the escalating demand for battery storage and the capability of grid-forming inverters to substitute various crucial system services previously 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 Segmental Analysis

Global Energy Storage Inverters Market is segmented on the basis of type, applications and region. By type, the market is segmented into central, string, micro, hybrid, others. By applications, the market is segmented into residential, commercial, utility-scale. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Energy Storage Inverters Market

Governments globally have been championing the adoption of renewable energy sources via various policies, subsidies, and incentives. This concerted effort has fostered a conducive regulatory atmosphere, propelling the expansion of the energy storage inverter market by stimulating the uptake of renewable energy technologies.

Restraints in the Global Energy Storage Inverters Market

Competition for energy storage inverters arises from alternative storage solutions like pumped hydro and compressed air energy storage, potentially constraining market expansion, especially in regions where these alternatives have a stronger foothold.

Market Trends of the Global Energy Storage Inverters Market

Microgrids are gaining traction, especially in remote or off-grid regions, due to their ability to offer dependable and economical power solutions. Energy storage inverters play a vital role in microgrid systems, ensuring backup power availability and stabilizing energy fluctuations, thereby enhancing their efficiency and reliability.

Product Code: SQMIG20D2171

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Energy Storage Inverters Market by Applications

Market Overview
Residential
Commercial
Utility-Scale

Global Energy Storage Inverters Market by Type

Market Overview
Central
String
Micro
Hybrid
Others

Global Energy Storage Inverters Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021

Key Company Profiles

SMA Solar Technology AG (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
ABB Ltd. (Switzerland)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Delta Electronics Inc. (Taiwan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Sungrow Power Supply Co., Ltd. (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Tesla, Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Enphase Energy, Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Huawei Technologies Co., Ltd. (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Fronius International GmbH (Austria)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Schneider Electric SE (France)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
KSTAR New Energy Co., Ltd. (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Advanced Energy Industries, Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Ginlong Technologies (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
SolarEdge Technologies Inc. (Israel)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Tabuchi Electric Co., Ltd. (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Delta Energy Systems (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Samil Power Co., Ltd. (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
TBEA SunOasis Co., Ltd. (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Chint Group (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
KACO new energy GmbH (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Power Electronics EspaA+-a, S.L. (Spain)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Energy Storage Inverters Market Size, Share, Growth Analysis, By Applications(Residential, Commercial), By Type(Central, String) - Industry Forecast 2024-2031