Chan Ye Xin Xi Wang·2025-05-15 01:20Industry Overview - The energy storage inverter is a device that converts direct current (DC) from batteries into alternating current (AC), playing a crucial role in energy storage systems and enabling bidirectional energy flow between storage systems and the grid [1][4] - The market for energy storage inverters in China is rapidly growing, with the market size projected to increase from 2.21 billion yuan in 2020 to 12.098 billion yuan in 2024 [1][14] - The energy storage industry in China is entering the GWh era, with significant projects being launched, including 10 GWh-level lithium battery projects and 2 300MW compressed air storage projects [8][20] Policy Environment - Multiple policies have been issued to promote the development of new energy storage technologies and products, which will benefit the energy storage inverter industry [10][12] - The government aims to achieve a new energy storage installed capacity of over 30GW by 2025, supported by subsidies and price mechanisms [23] Market Dynamics - The energy storage inverter market is characterized by high concentration, with the top five companies (CR5) holding an 82% market share [14][21] - Major players in the market include Sungrow Power Supply, Kehua Data, and SINE, with Sungrow leading with a market share of 29% [14][16] Technological Trends - The industry is experiencing accelerated technological iteration, focusing on high conversion efficiency, high power density, and intelligent control [20] - Current mainstream products have achieved conversion efficiencies exceeding 98%, with future targets aiming for over 99% [20] Competitive Landscape - The competitive landscape is evolving, with leading companies integrating vertically and horizontally to enhance their capabilities in energy storage solutions [21][22] - Domestic companies are expanding into international markets, leveraging cost and technological advantages to compete globally [22] Application Scenarios - The application scenarios for energy storage inverters are diversifying, with increasing demand in grid-side applications, commercial sectors, and residential markets [23] - The integration of energy storage systems with renewable energy sources is becoming more prevalent, driving the need for efficient and compact inverters [23]