Global Energy Storage Bidirectional AC and DC Converter Market Growth 2024-2030

Global Energy Storage Bidirectional AC and DC Converter Market Growth 2024-2030

In energy storage systems, bidirectional alternating current (AC) and direct current (DC) converters are key devices used to convert between AC and DC for efficient energy transmission and management.

The global Energy Storage Bidirectional AC and DC Converter market size is projected to grow from US$ 631 million in 2024 to US$ 1289 million in 2030; it is expected to grow at a CAGR of 12.7% from 2024 to 2030.

LP Information, Inc. (LPI) ' newest research report, the “Energy Storage Bidirectional AC and DC Converter Industry Forecast” looks at past sales and reviews total world Energy Storage Bidirectional AC and DC Converter sales in 2023, providing a comprehensive analysis by region and market sector of projected Energy Storage Bidirectional AC and DC Converter sales for 2024 through 2030. With Energy Storage Bidirectional AC and DC Converter sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Energy Storage Bidirectional AC and DC Converter industry.

This Insight Report provides a comprehensive analysis of the global Energy Storage Bidirectional AC and DC Converter landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Energy Storage Bidirectional AC and DC Converter portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Energy Storage Bidirectional AC and DC Converter market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Energy Storage Bidirectional AC and DC Converter and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Energy Storage Bidirectional AC and DC Converter.

In February 2023, the Standardization Administration of China and the National Energy Administration issued the Guidelines on the Construction of New Energy Storage Standard System, which included 205 new energy storage standards. In the 14th Five-Year Plan and the 2035 Vision Target Outline, the energy storage industry, energy storage capacity, energy storage projects have been made requirements. In 2021, China issued the Guiding Opinions on Accelerating the Development of New Energy Storage, which specified a clear path for the development of energy storage industry. According to the data of CEC, the cumulative installed capacity of electrochemical energy storage power stations that put into operation was mainly distributed in the power side, and the total energy is 6.80 GWh, which accounted for 48.40% by the end of 2022.

According to CNESA, by the end of 2022, the cumulative installed capacity of power energy storage projects which has put into operation in the world was 237.2GW, with an annual growth rate of 15%. The cumulative installed capacity of new energy storage reached 45.7GW, which has nearly twice of the same period last year, with an annual growth rate of 80%. The lithium-ion battery occupied an absolute dominant position, with an annual growth rate of more than 85%. The global energy storage market developed rapidly, and the installed capacity of new power energy storage projects is 30.7GW, with a year-on-year growth of 98%. China, Europe and the United States continued to lead the development of the global energy storage market, collectively accounting for 86% of the global market.

According to CNESA statistics, by the end of 2022, the total installed capacity of power energy storage projects put into operation in China was 59.8GW, accounting for 25% of the total global market scale, with an annual growth rate of 38%. The cumulative installed capacity of new energy storage exceeded 10GW for the first time, reaching 13.1GW / 27.1, GWh. And the annual growth rate of power scale reached 128%, while the annual growth rate of energy scale reached 141%. The installed capacity of newly added power energy storage projects in China reached 16.5GW for the first time, among which the new capacity of pumped storage was 9.1GW. Among the new energy storage, lithium-ion battery occupied an absolute dominant position, accounting for 136%.

This report presents a comprehensive overview, market shares, and growth opportunities of Energy Storage Bidirectional AC and DC Converter market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Below 500KW
500KW-1MW
Above 1MW

Segmentation by Application:
Commercial
Industrial
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
ABB
Nidec Corporation
Sungrow Power Supply Co.,Ltd.
Johnson Controls
Parker Hannifin
Delta Electronics, Inc.
HNAC Technology Co., Ltd.
Destin Power Inc.
Jiangsu Linyang Energy Co., Ltd.
China Greatwall Technology Group Co., Ltd.
Dynapower Company LLC
Shanghai Sermatec Energy Technology Co., ltd.
Shenzhen Kstar Science&Technology Co.,Ltd.
Soaring
TBEA
Shenzhen Sinexcel Electric Co.,Ltd.

Key Questions Addressed in this Report

What is the 10-year outlook for the global Energy Storage Bidirectional AC and DC Converter market?

What factors are driving Energy Storage Bidirectional AC and DC Converter market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Energy Storage Bidirectional AC and DC Converter market opportunities vary by end market size?

How does Energy Storage Bidirectional AC and DC Converter break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.