NEW YORK, March 26, 2018 (GLOBE NEWSWIRE) — Batteries and other energy storage devices are used for storing energy so that it can be used when required. In a stand-alone power system, the energy stored in batteries can be used when the demand of energy exceeds the output from renewable energy sources like solar (e.g. on a cloudy day) and wind (e.g. on a still day).Devices Like inverters are used for the conversion of the energy from one form to another. An inverter in a grid connected renewable energy system converts direct current (DC) electricity from solar panels or a wind turbine into alternating current (AC) mains power.
The Major growth factor for Inverter Battery Market has been attributed to the demand and supply gap between electric energy around the globe and the increasing purchasing power of consumers. The rising number of solar PV installations is also a key factor impacting the inverter battery market.. Market of inverter is growing due to change in lifestyle of people leaving in rural and urban areas, Tolerance for Long cuts among consumer is decreasing.
The market for battery inverters is segmented into <450W, 450W-1500W, >1500W. The market for battery inverters is fragmented and there exist a large number of small unorganized players manufacturing sub-standard and local inverters. However, the market is dominated by a few leading brands including SMA Solar Technology AG
Xantrex Technology, Okaya, Exide, Duracell PowerMat, Schneider Electric, Amaron Batteries, TATA AutoComp GY Batteries Pvt, Sensata Technologies, Inc, Mahindra Powerol Ltd, Southern Batteries Pvt. Ltd, Enersys.
The demand for inverters is expected to surge from the growing economies such as North America followed by Europe due to the rising demand for sustainable power for residential and commercial sectors. This growing demand is likely to put forth a positive impact on the inverter battery market.
Inverter Battery Market: Product Type
Inverter Battery Market: End User / Application
Inverter Battery Market: Companies Covered
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