Energy Storage Inverters Market Size, Share, and Growth Analysis, By Product Type (Single-Phase Electric Power, Three-Phase Electric Power), By Application (Residential, Commercial), By Power Rating, By End-User, By Region - Industry Forecast 2025-2032
TMEIC(Toshiba Mitsubishi-Electric Industrial Systems Corporation)(Japan)
Eaton Corporation plc(Ireland)
Siemens AG(Germany)
Power Electronics(Spain)
Kehua Tech(China)
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Global Energy Storage Inverters Market size was valued at USD 12.2 billion in 2023 and is poised to grow from USD 13.31 billion in 2024 to USD 26.72 billion by 2032, growing at a CAGR of 9.1% during the forecast period (2025-2032).
The global energy storage inverter market is poised for significant growth as the demand for efficient and sustainable energy solutions surges, driven by the transition away from fossil fuels and efforts to reduce carbon emissions. With the rising popularity of renewable energy sources, firms like SMA Solar Technology AG are seizing the opportunity to innovate. The introduction of their Sunny Boy Storage inverter in 2021 exemplifies this trend, catering to residential and small commercial sectors and compatible with various battery technologies. The escalating necessity for reliable power converters and the increasing reliance on battery storage solutions underscore the market's potential, particularly as grid-forming inverters step in to fulfill essential system services traditionally 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 Segments Analysis
Global Energy Storage Inverters Market is segmented by Product Type, Application, Power Rating, End-User and region. Based on Product Type, the market is segmented into Single-Phase Electric Power and Three-Phase Electric Power. Based on Application, the market is segmented into Residential, Commercial, Industrial and Utility-Scale. Based on Power Rating, the market is segmented into Less than 10 kW, 10-30 kW, 30-100 kW and Above 100 kW. Based on End-User, the market is segmented into Utilities, Commercial & Industrial and Residential. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Global Energy Storage Inverters Market
The global push for renewable energy has been significantly bolstered by various governments implementing supportive policies, subsidies, and incentives. This proactive stance has fostered a conducive regulatory framework that promotes the expansion of the energy storage inverter market. As countries increasingly advocate for the integration of renewable energy technologies, the demand for efficient energy storage solutions has surged, driving the market's growth. This environment not only encourages the uptake of renewable energy sources but also accelerates the innovation and deployment of energy storage inverters, which are crucial for optimizing energy use and enhancing grid stability.
Restraints in the Global Energy Storage Inverters Market
The Global Energy Storage Inverters market encounters significant challenges due to competition from alternative energy storage solutions like pumped hydro and compressed air energy storage. These established technologies can hinder the market's expansion, especially in regions where they are well-integrated and widely utilized. As a result, the presence of these competing technologies may restrict the adoption of energy storage inverters, making it difficult for them to penetrate markets where traditional methods dominate. Consequently, this rivalry poses a constraint on the overall growth potential of the energy storage inverters market, affecting its future development and investment opportunities.
Market Trends of the Global Energy Storage Inverters Market
The Global Energy Storage Inverters market is experiencing significant growth, driven by the rising adoption of microgrids, especially in remote and off-grid regions. As these localized energy systems gain traction, they offer a dependable and economically viable power source, necessitating advanced energy storage inverters to ensure stability and efficiency. These inverters play a pivotal role in managing fluctuations in energy supply and providing backup power during outages, making them indispensable for the successful operation of microgrids. The increasing emphasis on renewable energy integration and energy independence further fuels demand, positioning energy storage inverters as a vital element in the evolving energy landscape.
Table of Contents
Introduction
Objectives of the Study
Scope of the Report
Definitions
Research Methodology
Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations
Executive Summary
Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis
Market Dynamics & Outlook
Market Overview
Market Size
Market Dynamics
Drivers & Opportunities
Restraints & Challenges
Porters Analysis
Competitive rivalry
Threat of substitute
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
Key Market Insights
Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2024
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Global Energy Storage Inverters Market Size by Product Type & CAGR (2025-2032)
Market Overview
Single-Phase Electric Power
Three-Phase Electric Power
Global Energy Storage Inverters Market Size by Application & CAGR (2025-2032)
Market Overview
Residential
Commercial
Industrial
Utility-Scale
Global Energy Storage Inverters Market Size by Power Rating & CAGR (2025-2032)
Market Overview
Less than 10 kW
10-30 kW
30-100 kW
Above 100 kW
Global Energy Storage Inverters Market Size by End-User & CAGR (2025-2032)
Market Overview
Utilities
Commercial & Industrial
Residential
Global Energy Storage Inverters Market Size & CAGR (2025-2032)
North America (Product Type, Application, Power Rating, End-User)
US
Canada
Europe (Product Type, Application, Power Rating, End-User)
Germany
Spain
France
UK
Italy
Rest of Europe
Asia Pacific (Product Type, Application, Power Rating, End-User)
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America (Product Type, Application, Power Rating, End-User)
Brazil
Rest of Latin America
Middle East & Africa (Product Type, Application, Power Rating, End-User)
GCC Countries
South Africa
Rest of Middle East & Africa
Competitive Intelligence
Top 5 Player Comparison
Market Positioning of Key Players, 2024
Strategies Adopted by Key Market Players
Recent Developments in the Market
Company Market Share Analysis, 2024
Company Profiles of All Key Players
Company Details
Product Portfolio Analysis
Company's Segmental Share Analysis
Revenue Y-O-Y Comparison (2022-2024)
Key Company Profiles
SMA Solar Technology AG (Germany)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
SolarEdge Technologies (Israel)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Huawei Technologies Co., Ltd. (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Sungrow Power Supply 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
Delta Electronics, Inc. (Taiwan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Schneider Electric SE (France)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
ABB Ltd (Switzerland)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Generac Power Systems, Inc. (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Enphase Energy, Inc. (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Pylon Technologies Co., Ltd. (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Growatt New Energy Technology Co., Ltd. (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
GoodWe Technologies Co., Ltd. (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Ginlong Technologies Co., Ltd. (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
TMEIC (Toshiba Mitsubishi-Electric Industrial Systems Corporation) (Japan)