Energy Storage Battery Inverter Market by Type, Application and Overview - Global Forecast to 2025
The global energy storage battery
inverter market size is projected to surpass USD 40 billion by 2025, driven by
the increasing need for uninterrupted power supply (UPS) and increasing adoption
of renewable energy sources. Infrastructure development, as part of various
smart city initiatives across the world, has led to the rise of energy
consumption levels. This has led to an increased load on the grids resulting in
frequent power outages. Therefore, the need to store energy to prevent power
outages have led to the rapid deployment of battery inverters, thereby, driving
the growth of the global energy storage systems market.
Request PDF Sample
Copy of Energy Storage Battery Inverter Market Report at: https://www.adroitmarketresearch.com/contacts/request-sample/79
Developing economies around the
globe are focusing on renewable energy sources to generate electricity as part
of clean energy initiatives. This has led to the development of the global
battery storage systems market throughout the globe. For instance, India is
planning to increase renewable energy capacity from 57 GW to 175 GW by the year
2022. Increasing investments in the renewable energy sector are expected to
augment the demand for large-scale solar PV plants.
Battery storage systems help in
providing backup in residential, commercial and utility-scale segments. Energy
storage inverters are being increasingly installed in homes as they help in
providing power backup at times of power outage.
The utility-scale segment is
anticipated to witness significant growth over the forecast period attributed
to the development of large-scale PV projects across the globe. Additionally,
government support towards installations of solar plants is set to drive the
solar inverter market demand in utility-scale applications. Additionally,
installations of utility-scale energy storage battery inverters are expected to
increase rapidly during the forecast period at an anticipated CAGR of 9.7%,
globally.
Read more details of
the report at: https://www.adroitmarketresearch.com/industry-reports/energy-storage-battery-inverter-market
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+) are the types of energy storage inverters used across multiple
industries. In 2017, three-phase low power (10 kW to 35 kW) dominated the
global energy storage battery inverter market, accounting for approximately
48.8% share. Rising demand for extreme power supply (EPS) in residential and
commercial sectors is the major factor contributing towards the growth of this
inverter type.
North America is projected to be
the second largest region in the global energy storage battery inverter market
over the forecast period. This growth can be attributed to the growing number
of installations in utility and residential applications in the region. For
instance, according to energy storage association (ESA), new energy storage
installations in the U.S. to reach 35 GW by 2025.
On the other hand, Asia Pacific
which accounted for 50.8% of the total installations in 2017 is likely to
witness the fastest growth up to 2025 due to huge investments made by various
governments to increase renewable energy sector. Huge investments by key
manufacturers and new product launches are the other factors contributing to
the growth of the segment and overall solar inverter market. For instance,
SolarEdge manufactures 10kW three-phase inverter which is small, lightest in
its class and easy to install.
The global energy storage battery
inverter market is highly fragmented owing to the presence of several players.
Companies including Dynapower Company, LLC, Robert Bosch GmbH, SMA Solar
Technology AG, KACO new energy GmbH, Parker-Hannifin Corporation, ABB,
Princeton Power Systems, Inc., Eaton Corporation, Sungrow Power Supply Co.,
Ltd., Guangdong Zhicheng Champion Group Co., Ltd., Schneider Electric S.E.,
SolarEdge Technologies, Inc., Huawei Technologies Co., Ltd. have a presence
within the global market.
Key Segments of the Global Energy Storage Battery Inverter Market
Type Overview, 2015-2025 (MW) (USD Million)
·
Single-Phase Electric Power
·
Three-Phase Low Power (10 kW to 35 kW)
·
Three-Phase Medium Power (36 kW to 250 kW)
·
Three-Phase High Power (251 kW+)
Application Overview, 2015-2025 (MW) (USD Million)
·
Residential
·
Commercial
·
Utility Scale
Regional Overview, 2015-2025 (MW) (USD Million)
·
North America
o
U.S.
o
Canada
·
Europe
o
France
o
UK
o
Germany
o
Rest of Europe
·
Asia Pacific
o
India
o
Japan
o
China
o
Australia
o
Rest of APAC
·
Latin America
o
Brazil
o
Rest of Latin America
·
Middle East & Africa
o
Saudi Arabia
o
Rest of MEA
Enquire more details
of the report at:
About Us:
Adroit Market Research is an
India-based business analytics and consulting company incorporated in 2018. Our
target audience is a wide range of corporations, manufacturing companies,
product/technology development institutions and industry associations that
require understanding of a market’s size, key trends, participants and future
outlook of an industry. We intend to become our clients’ knowledge partner and
provide them with valuable market insights to help create opportunities that
increase their revenues. We follow a code– Explore, Learn and Transform. At our
core, we are curious people who love to identify and understand industry
patterns, create an insightful study around our findings and churn out money-making
roadmaps.
Contact Information:
Ryan Johnson
Account Manager Global
3131 McKinney Ave Ste 600,
Dallas,
TX75204, U.S.A.
Phone No.: USA: +1 (214) 884-6068 / +91 9665341414
Comments
Post a Comment