- The key vendors in the global battery market for invertors 2015-2019 are East Penn Manufacturing, Eaton, EnerSys, Exide Technologies, HOPPECKE Batterien and Su-Kam Power Systems.
London, 19 October 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global battery market for invertors 2015-2019. Growing battery demand for non-renewable inverters is one of the key trends upcoming in this market. These inverters are in much demand in regions where power infrastructure is still unreliable and grid power is unavailable. To meet growing demands and bridge the demand-supply gap, governments and companies are looking at alternative renewable power sources such as solar and wind inverter systems, or conventional inverter battery systems. These systems are eco-friendly and ideal for storing power that can be used during outages or peak demand. The global inverter battery market is expected to grow at a CAGR of 12.6% during the forecast period of 2014-2019.
APAC is the fastest growing market for both non-renewable and renewable inverter batteries. The region’s poor power infrastructure has surged power outages, which has subsequently resulted in increased number of solar installations and high demand for non-renewable inverter batteries. Indonesia, Malaysia, Thailand, Vietnam, and India are seeing rising demand for sustainable power for residential and commercial sectors.
“Many residential, commercial, and industrial campuses have initiated installation of rooftop solar PV modules, which is driving the demand for battery storage,” says Faisal Ghaus, Vice President of Technavio Research.
“Increased solar PV installations worldwide have resulted in high solar PV inverter battery demand. Decreasing solar PV inverter prices will foster solar PV battery-based installations worldwide.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Battery Market for Invertors 2015-2019, please send an e-mail to media@TechNavio.com
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