This market research presents detailed segmentation of the global battery market for solar PV inverters by end user and includes sectors like utility, residential, and non-residential. It also provides an analysis of the key geographical regions such as APAC, Americas, and EMEA. Leading vendors are Eaton, Enersys, Exide, HOPPECKE Batterien, Microtek, and Su-Kam.
Technavio has released updated information on the solar PV market, with the publication of its new market research report, global battery market for solar PV inverters. The global battery market for solar PV inverters is expected to grow at a high CAGR of 19% between 2015 and 2019. Augmented demand for inverter batteries from solar PV systems is the key driver for the growth of this market.
“Growing demand for smart inverters and distributed energy is a major propelling factor of this market. Distributed energy generation comprises small-scale generation technologies such as solar PV, waste-to-energy, stationary fuel cell, small wind, micro CHP, and micro-hydro. The growing need for distributed energy generation is fuelling the demand for smart inverters. These inverters are more efficient with advanced features like frequency ride-through, reactive power and voltage control, advanced two-way control capabilities, and storage integration and data streaming,” says Navin Rajendra, Lead Analyst, Energy, Technavio Research.
Non-residential users lead the battery market for solar PV inverters, in terms of market revenue. Much of this segment’s growth can be attributed to factors like higher capacity installation of solar PV inverters for hospitals, government, SMB IT, and telecom etc. which require more battery units. The growing requirement for energy storage options has fuelled the demand for solar PV inverters among these commercial users.
The leading vendors in the global battery market for solar PV inverters include Eaton, Enersys, Exide, HOPPECKE Batterien, Microtek, and Su-Kam. This market is highly diverse and consists of numerous international and domestic players that form strong partnerships with automotive, industrial, and commercial companies in order to survive in the market. This market is highly vulnerable to technical and financial challenges, which facilitates inorganic growth within the market.
A more detailed analysis is available in the Technavio report, Global Battery Market for Solar PV Inverters 2015-2019.
We can customize this reports by other regions and specific segments upon request.
Other Related Reports:
- Global Solar PV Inverter Market: Research Scope 2015-2019
- Solar PV Market in Asia 2015-2019
- Global Battery Energy Storage Market for Renewables 2015-2019
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