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Global Battery Market for Solar PV Inverters 2015-2019

Global Battery Market for Solar PV Inverters 2015-2019

Market outlook of the global battery market for solar PV inverters

Technavio’s market research analyst has estimated factors like the rising market competition and growing supply chain efficiency to bolster market growth during the forecast period. These factors help the global battery market for solar PV inverters to grow at a rapid rate during the forecast period and results in its impressive CAGR of nearly 19% by 2019.

Augmented demand for inverter batteries from solar PV systems is the key driver for the growth of this market. Due to depleting fossil fuel reserves and rising fuel prices, many countries across the globe are now adopting renewable power sources for electricity generation. Since the power generated from such sources is intermittent in nature, energy storage systems play a vital role in meeting the rising power demand, which in turn drives the need for inverters and battery systems.

End-user segmentation of the battery market for solar PV inverters

  • Utility
  • Residential
  • Non-residential
In this market research report, Technavio market research analysts estimate the non-residential segment to dominate over all the other sectors during the forecast period. The non-residential sector mainly includes commercial, industrial, and government entities that require energy storage options to enhance their solar generation capacities and mitigate high peak energy demand charges. Factors like the installation of high-capacity battery units in non-residential sectors such as hospitals, government, SMB IT, and telecom are expected to result in its high market share of nearly 43% by 2019.

Geographical segmentation of the battery market for solar PV inverters
  • APAC
  • Americas
  • EMEA
Geographically, the APAC region is estimated to account for more than 50% of the total market share by 2019. Increasing environmental concerns and growing energy demand are the two significant parameters that will drive market growth in this region during the forecast period.

Competitive landscape and key vendors

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.Key vendors analyzed in this market study are -
  • Eaton
  • Enersys
  • Exide
  • HOPPECKE Batterien
  • Microtek
  • Su-Kam
Key questions answered in the report include
  • What will the market size and the growth rate be in 2019?
  • What are the key factors driving the global battery market for solar PV inverters?
  • What are the key market trends impacting the growth of the global battery market for solar PV inverters?
  • What are the challenges to market growth?
  • Who are the key vendors in the global battery market for solar PV inverters?
  • What are the market opportunities and threats faced by the vendors in the global battery market for solar PV inverters?
  • Trending factors influencing the market shares of the EMEA, Americas, and APAC?
  • What are the key outcomes of the five forces analysis of the global battery market for solar PV inverters?
Technavio also offers customization on reports based on specific client requirement.

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


Press Release

Technavio Announces the Publication of its Research Report – Global Battery Market for Solar PV Inverters 2015-2019
Technavio recognizes the following companies as the key players in the Global Battery Market for Solar PV Inverters: Eaton, Enersys, Exide, HOPPECKE Batterien, Microtek and Su-Kam
Commenting on the report, an analyst from Technavio’s team said: “Fossil fuels are the primary sources of energy generation. However, the extensive cycle of construction involved in fossil fuel plants has resulted in increased dependence on distributed energy sources. Many countries are undergoing a transition from centralized power systems to decentralized or distributed generation systems.”
According to the report, owing to depleting fossil fuel reserves and rising fuel prices, countries worldwide are adopting renewable power sources for electricity generation. As renewable power sources such as solar and wind are intermittent in nature, energy storage systems play a vital role in catering to rising power demand. This will drive the need for inverters and battery systems.
Further, the report states that power utilities significantly depend on inverters to ensure reliable and uninterrupted operations. However, the service life of PV inverters is low. The warranty period of an electrolytic capacitor, one of the key components of an inverter, is only three to five years. Therefore, these capacitors need to be replaced regularly, which adds to the maintenance costs.

Companies Mentioned

Eaton, Enersys, Exide, HOPPECKE Batterien, Microtek, Su-Kam

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
  • Market landscape
    • Market overview
      • Table Global battery market for solar PV inverters
    • Market size and forecast
      • Table Global battery market for solar PV inverters by revenue ($ billions)
      • Table Global battery market for solar PV inverters by installed capacity (GW)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by end-user
    • Global battery market for solar PV inverters by end-user application 2014-2019
      • Table Global battery market for solar PV inverters by end-user application 2014
      • Table Global battery market for solar PV inverters by end-user application 2019
      • Table Global battery market for solar PV inverters by end-user application 2014-2019
    • Global battery market for residential solar PV inverters
      • Table Global battery market for residential solar PV inverters ($ billions)
    • Global battery market for non-residential solar PV inverters
      • Table Global battery market for non-residential solar PV inverters ($ billions)
    • Global battery market for solar PV inverters in utilities
      • Table Global battery market for solar PV inverters in utilities ($ billions)
  • Geographical segmentation
    • Global battery market for solar PV inverters by geographical segmentation 2014 and 2019
      • Table Global battery market for solar PV inverters by geographical segmentation 2014
      • Table Global battery market for solar PV inverters by geographical segmentation 2019
      • Table Global battery market for solar PV inverters by geographical segmentation 2014-2019
    • Battery market for solar PV inverters in APAC
      • Table Battery market for solar PV inverters in APAC ($ billions)
    • Battery market for solar PV inverters in EMEA
      • Table Battery market for solar PV inverters in EMEA ($ billions)
    • Battery market for solar PV inverters in the Americas
      • Table Battery market for solar PV inverters in the Americas ($ billions)
  • Key leading countries
    • Table Key leading countries
    • China
      • Table Solar PV installation trend in China 2005-2014 (GW)
    • Japan
      • Table Solar PV installation trend in Japan 2005-2014 (GW)
    • US
      • Table Annual solar PV additions 2014 by top 10 states in the US (GW)
      • Table Solar PV installation trend in the US 2005-2014 (GW)
  • Market drivers
    • Increased demand for inverter batteries from solar PV systems
    • Growing demand for smart inverters and distributed energy
    • Decreasing price of inverter systems
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Changing market dynamics
    • Decreased growth of solar PV market in Europe
    • High maintenance costs
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Growing demand for decentralized power generation
    • Expansion of off-grid towers in telecom sector
    • High demand for clean energy in China
  • Vendor landscape
    • Competitive scenario
  • Key vendor analysis
    • Eaton
      • Table Eaton: Business segmentation 2014 by revenue
      • Table Eaton: Business segmentation by revenue 2013 and 2014 ($ billions)
      • Table Eaton: Geographical segmentation by revenue 2014
    • EnerSys
      • Table EnerSys: Product segmentation by 2015
      • Table EnerSys: Reserve power revenue 2014 and 2015 ($ billions)
      • Table EnerSys: Motive power revenue 2014 and 2015 ($ billions)
      • Table EnerSys: Geographical segmentation by revenue 2015
    • Exide Technologies
      • Table Exide Technologies: Product segmentation
    • HOPPECKE Batterien
      • Table HOPPECKE Batterien: Business offerings
    • Microtek
      • Table Microtek: Product categories
    • Su-Kam Power Systems
      • Table Su-Kam Power Systems: Business segmentation
  • Appendix
    • List of abbreviations
  • Explore Technavio

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