Battery Storage Inverter Market is estimated to be US$ 6.65 billion by 2030 with a CAGR of 16.4% during the forecast period

[Amar Yadav]

Global Battery Storage Inverter Market accounted for US$ 1.4 billion in 2020 and is estimated to be US$ 6.65 billion by 2030 and is anticipated to register a CAGR of 16.4%. The battery storage Inverter is the grid-connected inverter that can also act as a bi-directional inverter and it also helps to store electric energy .It is mostly used in commercial, residential, and utility-scale sectors. At present this inverter is used in the field of photovoltaic power generation. A battery storage inverter is a device that draws energy from a battery .This device manages the battery charge through an onboard charger. These inverters are supplying AC energy, such type of inverters manage the charging and discharging of a battery bank. The market is divided into single-phase electric power and three-phase electric power. The single-phase electric power segment is expected to dominate the global market. Three-phase electric power is used to generate, transmit & distribute AC electricity.