Exclusive Report on Battery Storage Inverter Market Analysis By Key Players, SWOT Analysis, Growth Factors and Forecast till 2028
Global Battery Storage Inverter Market By Types (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+)), By Applications (Industrial, Commercial and Utility-Scale) and By Geography – COVID-19 Impact Analysis, Post COVID Analysis, Opportunities, Trends and Forecast from 2021 to 2028
As per the study initiated by Evolve Business Intelligence, the global Battery Storage Inverter Market is expected to grow at a CAGR of 11.15% from 2021 to 2028.
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- The temporary lockdown and restriction have led to supply chain disruption, presenting import and export challenges across different sectors.
- The companies operating in the Battery Storage Inverter market have been negatively impacted due to the COVID-19 pandemic resulted in a decrease in the growth of the market for 2020 and 2021.
The major factor that has impacted the growth of the market includes There is a growing demand for grid-connected systems, among others.
Solar and wind energy, which are stored in the grid, are the important types of renewable energy sources. However, variations in the process of energy generation occur to variations in the wind current and the concealment of the sun by clouds. These fluctuations necessitate the use of adaptable grid systems to store energy. When the supply of electricity exceeds the electricity demand, battery storage inverter systems assist grid operators in saving electricity. The use of battery storage inverters improves the reliability and flexibility of electric supply systems in terms of generation, transmission, and distribution.
The Asia Pacific is expected to grow the fastest during the forecast period, owing to rising government initiatives toward renewable energy and the presence of a large number of battery manufacturers in the region. The increasing number of solar installations in China and India, as a result of large investments by key manufacturers, boosts market growth in the Asia Pacific region. Because of the growing need for battery storage inverters to support electrical grids and prevent blackouts, the United States dominates the market in the North American region.
IMP NOTE: All our reports will be updated considering the impact of the COVID-19 scenario before delivery.
The global Battery Storage Inverter market provides an in-depth analysis of key players which includes:
- KACO new energy
- Parker-Hannifin Corporation.
- Robert Bosch GmbH
- Dynapower Company, LLC.
- SMA Solar Technology AG
- Schneider Electric
- Eaton Corporation
- Huawei Technologies Co. Ltd
|Market Size (2020)||$ Billion|
|CAGR (2021 to 2028)||More than 11.15%|
|Market Segmentation||Types, and Application|
|Companies profiled||KACO new energy, Parker-Hannifin Corporation, Robert Bosch, Dynapower Company, ABB, SMA Solar Technology, Sungrow, Schneider Electric, Eaton Corporation, Huawei Technologies Co. Ltd|
|Country Covered||US, Canada, Mexico, UK, Germany, France, Italy, Rest of Europe, China, India, Japan, South Korea, Rest of Asia Pacific, Middle East & Africa, and South America|
|Forecast Years||2022 to 2028|
The global Battery Storage Inverter Market is segmented based on Types, and Applications. Based on Types, the market is segmented as 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+), and based on the Application, the market is analyzed on Industrial, Commercial and Utility-Scale.
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Key Region/ Countries Covered
- North America (US, Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
- Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Rest of the World (the Middle East & Africa and South America)
Key Questioned Answered Through The Report:
- The Impact of COVID-19 on the global market
- What are the potential opportunities for new entrants in the global market
- What is the market Size and Forecast from 2020 to 2028?
- Key Players associated with the global Battery Storage Inverter Market
- Value Chain Analysis of Global Battery Storage Inverter Market
- What is the CAGR of the global Battery Storage Inverter Market from 2021 to 2028
- Major Growth Factor, Challenges, Trends, and Opportunities in the global market
- Key outcomes of SWOT Analysis
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