The global battery storage inverter market revenue was around US$ 3.0 billion in 2023 and is estimated to reach US$ 6.5 billion by 2032, growing at a compound annual growth rate (CAGR) of 8.8% during the forecast period from 2024 to 2032.

Battery storage inverters, also called hybrid inverters or battery inverters, are devices utilized in energy storage systems to transform direct current (DC) electricity from batteries into alternating current (AC) electricity, which is the sort of electricity utilized in most electrical systems. They are an important component of battery energy storage systems, allowing for the efficient usage and integration of stored energy.

Factors Influencing Market Growth

- Manufacturers are continually enhancing the functionality, efficiency, and scalability of these inverters, developing their applications and pushing the growth of the battery storage inverter market.

- Battery storage inverters are a critical part of modern energy systems, allowing businesses and homeowners to harness the advantages of energy storage and renewable energy sources like solar power. This will propel the growth of the battery storage inverter industry during the forecast period.

- The battery storage inverter market has certainly encountered a rise in demand due to the increasing requirement for a sustainable power supply.

Regional Analysis

In 2023, the Asia-Pacific region dominated the global battery storage inverter market in terms of revenue, owing to many countries in this region having ambitious renewable energy marks to decrease greenhouse gas emissions and improve energy security. Battery storage inverters play a key role in incorporating intermittent renewable sources like wind and solar into the grid.

Leading Companies

The leading prominent companies profiled in the global battery storage inverter market are: -

- KACO new energy GmbH
- SMA Solar Technology AG
- Sensata Technologies, Inc.
- Ingeteam
- SolaX Power
- Poweroneups
- GOODWE
- Eaton
- SUNGROW
- Guangdong Zhicheng Champion Group Co., Ltd.
- SolarEdge
- Enphase Energy
- SMA Solar Technology
- ABB
- Fronius
- LG Chem
- Schneider Electric
- OutBack Power
- Other prominent key players

Segmentation Outline

The global battery storage inverter market segmentation focuses on Type, End Use Industry, and Region.

Segmentation based on Type

- Single-Phase Electric Power
- three-Phase Electric Power

Segmentation based on End Use Industry

- Residential
- Commercial
- Utility Scale

Segmentation based on Region
- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa