Market Overview:
The global battery for solar PV inverters market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for renewable energy sources and the rising concerns about climate change. The renewable inverter battery segment is expected to account for the majority of the market share during the forecast period, owing to its ability to store energy from renewable sources such as solar and wind power. The non-renewable inverter battery segment is also expected to grow at a significant rate during the forecast period, due its ability store energy from traditional power sources such as coal and natural gas.
Product Definition:
A battery is a device that converts chemical energy into electrical energy. Batteries are used in solar PV inverters to store the electricity generated by the solar panels. The batteries allow the solar PV inverter to provide power even when there is no sunlight available.
Renewable Inverter Battery:
Renewable inverter battery (RIB) is a secondary battery that can be used for storing energy from renewable sources including solar, wind and water power. It has the ability to store large amounts of energy in a short period. The growing demand for renewable sources of energy along with the need to reduce carbon emission has resulted in an increased focus on developing innovative products such as RIBs.
Non-Renewable Inverter Battery:
Non-renewable inverter battery (NRIB) is a type of secondary battery that uses the chemical reactions between an electrolyte and cathode to store electrical energy. The global NRIB market size was valued at USD 1.1 billion in 2016 and is expected to grow at a CAGR of XX% over the forecast period. Increasing demand for renewable sources of energy along with growing concerns regarding carbon emissions are anticipated to drive growth over the forecast period.
Application Insights:
The utility application segment accounted for the largest revenue share of over 50% in 2017. The growth is attributed to the growing requirement for renewable energy across various countries and regions. For instance, according to a blog by Greentech Media, Morocco installed around 100 MW worth of solar PV capacity in one day on April 10th 2018. Such initiatives are expected to drive demand over the forecast period.
The residential application segment is anticipated to witness significant growth owing to increasing government support & subsidies along with feed-in tariff schemes that offer financial benefits for installing rooftop solar panels systems. In addition, rising awareness about environment protection and carbon emission reduction is likely to propel demand from major markets including U.S., China, India and Germany among others over next few years respectively ¢â‚¬Å“ Solar Energy Industries Association (SEIA).
Regional Analysis:
Asia Pacific region accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing investments in renewable energy infrastructure, growing awareness about climate change, and government initiatives favoring battery-based solar power systems. China is estimated to lead the regional market over the next eight years owing to large scale adoption of these batteries across various commercial sectors including telecom, transportation, and agriculture.
The European market was valued at USD X million in 2017 owing to high penetration rates of solar PV inverters with a declining average selling price trend due to increased competition among manufacturers. Germany emerged as one of the major markets for battery-based solar PV inverters across Europe on account of rising installations supported by supportive government policies encouraging clean energy technologies such as photovoltaic power generation system installation along with rising awareness about climate change issues among people living thereabouts.
Growth Factors:
- Increasing demand for solar PV inverters owing to the growing awareness about the benefits of solar energy
- Rising number of installations of solar PV systems, globally
- Proliferation of smart grids and microgrids that are increasingly using solar PV inverters for power generation
- Growing investments in renewable energy projects, especially in developing countries
- Technological advancements that are resulting in development of more efficient and reliable solar PV inverters
Scope Of The Report
Report Attributes
Report Details
Report Title
Battery for Solar PV Inverters Market Research Report
By Type
Renewable Inverter Battery, Non-Renewable Inverter Battery
By Application
Utility, Residential, Non-residential
By Companies
Eaton, Exide, HOPPECKE Batterien, Microtek, Su-Kam, Eaton
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
190
Number of Tables & Figures
133
Customization Available
Yes, the report can be customized as per your need.
Global Battery for Solar PV Inverters Market Report Segments:
The global Battery for Solar PV Inverters market is segmented on the basis of:
Types
Renewable Inverter Battery, Non-Renewable Inverter Battery
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Utility, Residential, Non-residential
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Eaton
- Exide
- HOPPECKE Batterien
- Microtek
- Su-Kam
- Eaton
Highlights of The Battery for Solar PV Inverters Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Renewable Inverter Battery
- Non-Renewable Inverter Battery
- By Application:
- Utility
- Residential
- Non-residential
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Battery for Solar PV Inverters Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A battery is an energy storage device that helps to smooth out the flow of electricity from solar panels. When the sun isn't shining, or during periods of high demand, such as at night when many people are using appliances, a battery can help to provide a steady stream of power for your home or business.
Some of the key players operating in the battery for solar pv inverters market are Eaton, Exide, HOPPECKE Batterien, Microtek, Su-Kam, Eaton.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Battery for Solar PV Inverters Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Battery for Solar PV Inverters Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Battery for Solar PV Inverters Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Battery for Solar PV Inverters Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Battery for Solar PV Inverters Market Size & Forecast, 2018-2028
4.5.1 Battery for Solar PV Inverters Market Size and Y-o-Y Growth
4.5.2 Battery for Solar PV Inverters Market Absolute $ Opportunity
Chapter 5 Global Battery for Solar PV Inverters Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Battery for Solar PV Inverters Market Size Forecast by Type
5.2.1 Renewable Inverter Battery
5.2.2 Non-Renewable Inverter Battery
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Battery for Solar PV Inverters Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Battery for Solar PV Inverters Market Size Forecast by Applications
6.2.1 Utility
6.2.2 Residential
6.2.3 Non-residential
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Battery for Solar PV Inverters Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Battery for Solar PV Inverters Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Battery for Solar PV Inverters Analysis and Forecast
9.1 Introduction
9.2 North America Battery for Solar PV Inverters Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Battery for Solar PV Inverters Market Size Forecast by Type
9.6.1 Renewable Inverter Battery
9.6.2 Non-Renewable Inverter Battery
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Battery for Solar PV Inverters Market Size Forecast by Applications
9.10.1 Utility
9.10.2 Residential
9.10.3 Non-residential
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Battery for Solar PV Inverters Analysis and Forecast
10.1 Introduction
10.2 Europe Battery for Solar PV Inverters Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Battery for Solar PV Inverters Market Size Forecast by Type
10.6.1 Renewable Inverter Battery
10.6.2 Non-Renewable Inverter Battery
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Battery for Solar PV Inverters Market Size Forecast by Applications
10.10.1 Utility
10.10.2 Residential
10.10.3 Non-residential
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Battery for Solar PV Inverters Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Battery for Solar PV Inverters Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Battery for Solar PV Inverters Market Size Forecast by Type
11.6.1 Renewable Inverter Battery
11.6.2 Non-Renewable Inverter Battery
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Battery for Solar PV Inverters Market Size Forecast by Applications
11.10.1 Utility
11.10.2 Residential
11.10.3 Non-residential
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Battery for Solar PV Inverters Analysis and Forecast
12.1 Introduction
12.2 Latin America Battery for Solar PV Inverters Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Battery for Solar PV Inverters Market Size Forecast by Type
12.6.1 Renewable Inverter Battery
12.6.2 Non-Renewable Inverter Battery
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Battery for Solar PV Inverters Market Size Forecast by Applications
12.10.1 Utility
12.10.2 Residential
12.10.3 Non-residential
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Battery for Solar PV Inverters Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Battery for Solar PV Inverters Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Battery for Solar PV Inverters Market Size Forecast by Type
13.6.1 Renewable Inverter Battery
13.6.2 Non-Renewable Inverter Battery
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Battery for Solar PV Inverters Market Size Forecast by Applications
13.10.1 Utility
13.10.2 Residential
13.10.3 Non-residential
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Battery for Solar PV Inverters Market: Competitive Dashboard
14.2 Global Battery for Solar PV Inverters Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Eaton
14.3.2 Exide
14.3.3 HOPPECKE Batterien
14.3.4 Microtek
14.3.5 Su-Kam
14.3.6 Eaton
