The global Power Conversion System market was valued at US$ 508.6 million in 2023 and is anticipated to reach US$ 1141.8 million by 2030, witnessing a CAGR of 12.2% during the forecast period 2024-2030.
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 aims to provide a comprehensive presentation of the global market for Power Conversion System, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Power Conversion System.
Report Scope
The Power Conversion System market size, estimations, and forecasts are provided in terms of output/shipments (MW) and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Power Conversion System market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Power Conversion System manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
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.
Segment by Type
Less than 500KW
500KW-1MW
Above than 1MW
Segment by Application
Power Station
Industrial Application
Others
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
China Taiwan
Southeast Asia
India
Latin America, Middle East & Africa
Mexico
Brazil
Turkey
GCC Countries
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Detailed analysis of Power Conversion System manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Production/output, value of Power Conversion System by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 4: Consumption of Power Conversion System in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and production of each country in the world.
Chapter 5: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 6: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: The main points and conclusions of the report.
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1 Power Conversion System Market Overview
1.1 Product Definition
1.2 Power Conversion System Segment by Type
1.2.1 Global Power Conversion System Market Value Growth Rate Analysis by Type 2023 VS 2030
1.2.2 Less than 500KW
1.2.3 500KW-1MW
1.2.4 Above than 1MW
1.3 Power Conversion System Segment by Application
1.3.1 Global Power Conversion System Market Value Growth Rate Analysis by Application: 2023 VS 2030
1.3.2 Power Station
1.3.3 Industrial Application
1.3.4 Others
1.4 Global Market Growth Prospects
1.4.1 Global Power Conversion System Production Value Estimates and Forecasts (2019-2030)
1.4.2 Global Power Conversion System Production Capacity Estimates and Forecasts (2019-2030)
1.4.3 Global Power Conversion System Production Estimates and Forecasts (2019-2030)
1.4.4 Global Power Conversion System Market Average Price Estimates and Forecasts (2019-2030)
1.5 Assumptions and Limitations
2 Market Competition by Manufacturers
2.1 Global Power Conversion System Production Market Share by Manufacturers (2019-2024)
2.2 Global Power Conversion System Production Value Market Share by Manufacturers (2019-2024)
2.3 Global Key Players of Power Conversion System, Industry Ranking, 2022 VS 2023 VS 2024
2.4 Global Power Conversion System Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.5 Global Power Conversion System Average Price by Manufacturers (2019-2024)
2.6 Global Key Manufacturers of Power Conversion System, Manufacturing Base Distribution and Headquarters
2.7 Global Key Manufacturers of Power Conversion System, Product Offered and Application
2.8 Global Key Manufacturers of Power Conversion System, Date of Enter into This Industry
2.9 Power Conversion System Market Competitive Situation and Trends
2.9.1 Power Conversion System Market Concentration Rate
2.9.2 Global 5 and 10 Largest Power Conversion System Players Market Share by Revenue
2.10 Mergers & Acquisitions, Expansion
3 Power Conversion System Production by Region
3.1 Global Power Conversion System Production Value Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
3.2 Global Power Conversion System Production Value by Region (2019-2030)
3.2.1 Global Power Conversion System Production Value Market Share by Region (2019-2024)
3.2.2 Global Forecasted Production Value of Power Conversion System by Region (2025-2030)
3.3 Global Power Conversion System Production Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
3.4 Global Power Conversion System Production by Region (2019-2030)
3.4.1 Global Power Conversion System Production Market Share by Region (2019-2024)
3.4.2 Global Forecasted Production of Power Conversion System by Region (2025-2030)
3.5 Global Power Conversion System Market Price Analysis by Region (2019-2024)
3.6 Global Power Conversion System Production and Value, Year-over-Year Growth
3.6.1 North America Power Conversion System Production Value Estimates and Forecasts (2019-2030)
3.6.2 Europe Power Conversion System Production Value Estimates and Forecasts (2019-2030)
3.6.3 China Power Conversion System Production Value Estimates and Forecasts (2019-2030)
3.6.4 Japan Power Conversion System Production Value Estimates and Forecasts (2019-2030)
4 Power Conversion System Consumption by Region
4.1 Global Power Conversion System Consumption Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
4.2 Global Power Conversion System Consumption by Region (2019-2030)
4.2.1 Global Power Conversion System Consumption by Region (2019-2024)
4.2.2 Global Power Conversion System Forecasted Consumption by Region (2025-2030)
4.3 North America
4.3.1 North America Power Conversion System Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.3.2 North America Power Conversion System Consumption by Country (2019-2030)
4.3.3 United States
4.3.4 Canada
4.4 Europe
4.4.1 Europe Power Conversion System Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.4.2 Europe Power Conversion System Consumption by Country (2019-2030)
4.4.3 Germany
4.4.4 France
4.4.5 U.K.
4.4.6 Italy
4.4.7 Russia
4.5 Asia Pacific
4.5.1 Asia Pacific Power Conversion System Consumption Growth Rate by Region: 2019 VS 2023 VS 2030
4.5.2 Asia Pacific Power Conversion System Consumption by Region (2019-2030)
4.5.3 China
4.5.4 Japan
4.5.5 South Korea
4.5.6 China Taiwan
4.5.7 Southeast Asia
4.5.8 India
4.6 Latin America, Middle East & Africa
4.6.1 Latin America, Middle East & Africa Power Conversion System Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.6.2 Latin America, Middle East & Africa Power Conversion System Consumption by Country (2019-2030)
4.6.3 Mexico
4.6.4 Brazil
4.6.5 Turkey
5 Segment by Type
5.1 Global Power Conversion System Production by Type (2019-2030)
5.1.1 Global Power Conversion System Production by Type (2019-2024)
5.1.2 Global Power Conversion System Production by Type (2025-2030)
5.1.3 Global Power Conversion System Production Market Share by Type (2019-2030)
5.2 Global Power Conversion System Production Value by Type (2019-2030)
5.2.1 Global Power Conversion System Production Value by Type (2019-2024)
5.2.2 Global Power Conversion System Production Value by Type (2025-2030)
5.2.3 Global Power Conversion System Production Value Market Share by Type (2019-2030)
5.3 Global Power Conversion System Price by Type (2019-2030)
6 Segment by Application
6.1 Global Power Conversion System Production by Application (2019-2030)
6.1.1 Global Power Conversion System Production by Application (2019-2024)
6.1.2 Global Power Conversion System Production by Application (2025-2030)
6.1.3 Global Power Conversion System Production Market Share by Application (2019-2030)
6.2 Global Power Conversion System Production Value by Application (2019-2030)
6.2.1 Global Power Conversion System Production Value by Application (2019-2024)
6.2.2 Global Power Conversion System Production Value by Application (2025-2030)
6.2.3 Global Power Conversion System Production Value Market Share by Application (2019-2030)
6.3 Global Power Conversion System Price by Application (2019-2030)
7 Key Companies Profiled
7.1 ABB
7.1.1 ABB Power Conversion System Corporation Information
7.1.2 ABB Power Conversion System Product Portfolio
7.1.3 ABB Power Conversion System Production, Value, Price and Gross Margin (2019-2024)
7.1.4 ABB Main Business and Markets Served
7.1.5 ABB Recent Developments/Updates
7.2 Nidec Corporation
7.2.1 Nidec Corporation Power Conversion System Corporation Information
7.2.2 Nidec Corporation Power Conversion System Product Portfolio
7.2.3 Nidec Corporation Power Conversion System Production, Value, Price and Gross Margin (2019-2024)
7.2.4 Nidec Corporation Main Business and Markets Served
7.2.5 Nidec Corporation Recent Developments/Updates
7.3 Sungrow Power Supply Co.,Ltd.
7.3.1 Sungrow Power Supply Co.,Ltd. Power Conversion System Corporation Information
7.3.2 Sungrow Power Supply Co.,Ltd. Power Conversion System Product Portfolio
7.3.3 Sungrow Power Supply Co.,Ltd. Power Conversion System Production, Value, Price and Gross Margin (2019-2024)
7.3.4 Sungrow Power Supply Co.,Ltd. Main Business and Markets Served
7.3.5 Sungrow Power Supply Co.,Ltd. Recent Developments/Updates
7.4 Johnson Controls
7.4.1 Johnson Controls Power Conversion System Corporation Information
7.4.2 Johnson Controls Power Conversion System Product Portfolio
7.4.3 Johnson Controls Power Conversion System Production, Value, Price and Gross Margin (2019-2024)
7.4.4 Johnson Controls Main Business and Markets Served
7.4.5 Johnson Controls Recent Developments/Updates
7.5 Parker Hannifin
7.5.1 Parker Hannifin Power Conversion System Corporation Information
7.5.2 Parker Hannifin Power Conversion System Product Portfolio
7.5.3 Parker Hannifin Power Conversion System Production, Value, Price and Gross Margin (2019-2024)
7.5.4 Parker Hannifin Main Business and Markets Served
7.5.5 Parker Hannifin Recent Developments/Updates
7.6 Delta Electronics, Inc.
7.6.1 Delta Electronics, Inc. Power Conversion System Corporation Information
7.6.2 Delta Electronics, Inc. Power Conversion System Product Portfolio
7.6.3 Delta Electronics, Inc. Power Conversion System Production, Value, Price and Gross Margin (2019-2024)
7.6.4 Delta Electronics, Inc. Main Business and Markets Served
7.6.5 Delta Electronics, Inc. Recent Developments/Updates
7.7 HNAC Technology Co., Ltd.
7.7.1 HNAC Technology Co., Ltd. Power Conversion System Corporation Information
7.7.2 HNAC Technology Co., Ltd. Power Conversion System Product Portfolio
7.7.3 HNAC Technology Co., Ltd. Power Conversion System Production, Value, Price and Gross Margin (2019-2024)
7.7.4 HNAC Technology Co., Ltd. Main Business and Markets Served
7.7.5 HNAC Technology Co., Ltd. Recent Developments/Updates
7.8 Destin Power Inc.
7.8.1 Destin Power Inc. Power Conversion System Corporation Information
7.8.2 Destin Power Inc. Power Conversion System Product Portfolio
7.8.3 Destin Power Inc. Power Conversion System Production, Value, Price and Gross Margin (2019-2024)
7.8.4 Destin Power Inc. Main Business and Markets Served
7.7.5 Destin Power Inc. Recent Developments/Updates
7.9 Jiangsu Linyang Energy Co., Ltd.
7.9.1 Jiangsu Linyang Energy Co., Ltd. Power Conversion System Corporation Information
7.9.2 Jiangsu Linyang Energy Co., Ltd. Power Conversion System Product Portfolio
7.9.3 Jiangsu Linyang Energy Co., Ltd. Power Conversion System Production, Value, Price and Gross Margin (2019-2024)
7.9.4 Jiangsu Linyang Energy Co., Ltd. Main Business and Markets Served
7.9.5 Jiangsu Linyang Energy Co., Ltd. Recent Developments/Updates
7.10 China Greatwall Technology Group Co., Ltd.
7.10.1 China Greatwall Technology Group Co., Ltd. Power Conversion System Corporation Information
7.10.2 China Greatwall Technology Group Co., Ltd. Power Conversion System Product Portfolio
7.10.3 China Greatwall Technology Group Co., Ltd. Power Conversion System Production, Value, Price and Gross Margin (2019-2024)
7.10.4 China Greatwall Technology Group Co., Ltd. Main Business and Markets Served
7.10.5 China Greatwall Technology Group Co., Ltd. Recent Developments/Updates
7.11 Dynapower Company LLC
7.11.1 Dynapower Company LLC Power Conversion System Corporation Information
7.11.2 Dynapower Company LLC Power Conversion System Product Portfolio
7.11.3 Dynapower Company LLC Power Conversion System Production, Value, Price and Gross Margin (2019-2024)
7.11.4 Dynapower Company LLC Main Business and Markets Served
7.11.5 Dynapower Company LLC Recent Developments/Updates
7.12 Shanghai Sermatec Energy Technology Co., ltd.
7.12.1 Shanghai Sermatec Energy Technology Co., ltd. Power Conversion System Corporation Information
7.12.2 Shanghai Sermatec Energy Technology Co., ltd. Power Conversion System Product Portfolio
7.12.3 Shanghai Sermatec Energy Technology Co., ltd. Power Conversion System Production, Value, Price and Gross Margin (2019-2024)
7.12.4 Shanghai Sermatec Energy Technology Co., ltd. Main Business and Markets Served
7.12.5 Shanghai Sermatec Energy Technology Co., ltd. Recent Developments/Updates
7.13 Shenzhen Kstar Science&Technology Co.,Ltd.
7.13.1 Shenzhen Kstar Science&Technology Co.,Ltd. Power Conversion System Corporation Information
7.13.2 Shenzhen Kstar Science&Technology Co.,Ltd. Power Conversion System Product Portfolio
7.13.3 Shenzhen Kstar Science&Technology Co.,Ltd. Power Conversion System Production, Value, Price and Gross Margin (2019-2024)
7.13.4 Shenzhen Kstar Science&Technology Co.,Ltd. Main Business and Markets Served
7.13.5 Shenzhen Kstar Science&Technology Co.,Ltd. Recent Developments/Updates
7.14 Soaring
7.14.1 Soaring Power Conversion System Corporation Information
7.14.2 Soaring Power Conversion System Product Portfolio
7.14.3 Soaring Power Conversion System Production, Value, Price and Gross Margin (2019-2024)
7.14.4 Soaring Main Business and Markets Served
7.14.5 Soaring Recent Developments/Updates
7.15 TBEA
7.15.1 TBEA Power Conversion System Corporation Information
7.15.2 TBEA Power Conversion System Product Portfolio
7.15.3 TBEA Power Conversion System Production, Value, Price and Gross Margin (2019-2024)
7.15.4 TBEA Main Business and Markets Served
7.15.5 TBEA Recent Developments/Updates
7.16 Shenzhen Sinexcel Electric Co.,Ltd.
7.16.1 Shenzhen Sinexcel Electric Co.,Ltd. Power Conversion System Corporation Information
7.16.2 Shenzhen Sinexcel Electric Co.,Ltd. Power Conversion System Product Portfolio
7.16.3 Shenzhen Sinexcel Electric Co.,Ltd. Power Conversion System Production, Value, Price and Gross Margin (2019-2024)
7.16.4 Shenzhen Sinexcel Electric Co.,Ltd. Main Business and Markets Served
7.16.5 Shenzhen Sinexcel Electric Co.,Ltd. Recent Developments/Updates
8 Industry Chain and Sales Channels Analysis
8.1 Power Conversion System Industry Chain Analysis
8.2 Power Conversion System Key Raw Materials
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.3 Power Conversion System Production Mode & Process
8.4 Power Conversion System Sales and Marketing
8.4.1 Power Conversion System Sales Channels
8.4.2 Power Conversion System Distributors
8.5 Power Conversion System Customers
9 Power Conversion System Market Dynamics
9.1 Power Conversion System Industry Trends
9.2 Power Conversion System Market Drivers
9.3 Power Conversion System Market Challenges
9.4 Power Conversion System Market Restraints
10 Research Finding and Conclusion
11 Methodology and Data Source
11.1 Methodology/Research Approach
11.1.1 Research Programs/Design
11.1.2 Market Size Estimation
11.1.3 Market Breakdown and Data Triangulation
11.2 Data Source
11.2.1 Secondary Sources
11.2.2 Primary Sources
11.3 Author List
11.4 Disclaimer
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.
听
听
*If Applicable.