Let us know the opportunity of Inverter Batteries in the International Business Market.
NEW YORK, March 26, 2018 (GLOBE NEWSWIRE) – Energy storage devices like batteries and other systems are used to store energy so that the stored energy can be used when required for the working of various applications. Furthermore, when it comes to the stand-alone power system, energy storage devices like batteries are used when there is a necessity for energy like the solar battery on a non-sunny day and wind on a still day. There are also other types of systems like inverters, which are used to convert the energy from one form to another form. However, in order to convert direct current (DC) electricity from a wind turbine or solar panels into alternating current (AC) mains power, an inverter is connected in a form of a grid in a renewable energy system.
In addition, inverter batteries in INDIA are experiencing major growth factors due to the demand for electric energy across the globe and in order to fill the supply gap of increasing purchasing power of consumers. Also, another factor that is impacting the inverter batteries in INDIA is an increase in the number of solar PV installations. Furthermore, as the lifestyle of people is changing and due to the long cuts of power, there is an increase in the market of inverters.
Battery inverters market is segmented into <450W, 450W-1500W, >1500W. As the market of battery inverters is fragmented, there are a large number of small players manufacturing sub-standard local inverters.
The demand for inverter batteries in INDIA is expected to surge from the growing economies such as North America followed by Europe due to the rising
sustainable power for residential and commercial sectors. Thus, this growing demand impact positively on the inverter battery market.