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Magnetic Components for Photovoltaic & Energy Storage Inverters Analysis Report
According to the new market research report “Magnetic Components for Photovoltaic & Energy Storage Inverters - Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031”, published by QYResearch, the global Magnetic Components for Photovoltaic & Energy Storage Inverters market size is projected to reach USD 3.3 billion by 2031, at a CAGR of 8.0% during the forecast period.
The “magnetic components for photovoltaic (PV) and energy storage (ESS) inverters” referred to in this report specifically refer to a collection of devices that perform electromagnetic functions such as energy storage, filtering, isolation, electromagnetic compatibility, and sensing in the power conversion link, and use ferromagnetic or alloy cores (including powder cores, strips, and sheets) as working media.
Figure00001. Global Magnetic Components for Photovoltaic & Energy Storage Inverters Market Size (US$ Million), 2019-2031
Source: QYResearch, "Magnetic Components for Photovoltaic & Energy Storage Inverters - Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031”
Figure00002. Global Magnetic Components for Photovoltaic & Energy Storage Inverters Top 13 Players Ranking and Market Share (Ranking is based on the revenue of 2024, continually updated)
Source: QYResearch, "Magnetic Components for Photovoltaic & Energy Storage Inverters - Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031”
According to QYResearch Top Players Research Center, the global key manufacturers of Magnetic Components for Photovoltaic & Energy Storage Inverters include TDK, Click Technology, Sunlord Electronics, Würth Elektronik Group, Delta Electronics, Inc., Mentech Optical & Magnetic, Eaglerise, Shenzhen Jingquan Hua Electronics, Pulse Electronics Corporation, Tamura Corporation, etc. In 2024, the global top five players had a share approximately 42.0% in terms of revenue.
Development Status
Market size has grown significantly: With the vigorous development of the global photovoltaic and energy storage industries, the market size of magnetic components for photovoltaic & energy storage inverters has continued to expand. As the world's largest photovoltaic installed capacity market, China's photovoltaic installed capacity has grown rapidly, and the demand for photovoltaic magnetic components has continued to increase. New energy storage has the advantages of flexible site selection and short construction period, and is increasingly widely embedded in the power system source, network, and load. The energy storage inverter is a key component connecting the power supply, battery and grid, and the inductor is an indispensable magnetic component for the energy storage inverter. The growth of the energy storage market has also driven the demand for related magnetic components.
Technical requirements continue to increase: The conversion efficiency of photovoltaic modules has increased, which has increased the performance requirements of the inverter for internal magnetic components. In order to meet the stringent requirements of the inverter in terms of high precision, high stability and low loss, magnetic component companies must carry out in-depth innovations in material selection and manufacturing process optimization. For example, new magnetic materials are needed to improve the performance of magnetic components and optimize the magnetic circuit structure to adapt to bidirectional energy flow. As the development trend of photovoltaic and energy storage integration becomes increasingly clear, photovoltaic inverters need to be compatible with energy storage systems, and magnetic components need to adapt to bidirectional energy flow conditions. Different energy storage application scenarios have different requirements for magnetic components. On the grid side, the energy storage
system balances electricity supply and demand and shaves peaks and fills valleys. The corresponding centralized energy storage inverter requires high-frequency, high-power charging and discharging and stable operation, requiring magnetic components to have super power carrying and rapid heat dissipation capabilities; on the power supply side, magnetic components need to accurately match the characteristics of new energy power generation and adjust key parameters; on the user side, considering miniaturization and convenience, the magnetic components corresponding to the string energy storage inverter are developed towards low loss and lightweight.
Development Trend
High performance: With the improvement of photovoltaic module conversion efficiency and the increase of energy storage system power, the inverter has higher and higher performance requirements for magnetic components. Magnetic components need to have higher precision, stability and lower loss to meet the inverter's efficient operation requirements under different working conditions. For example, the use of new magnetic materials, such as nanocrystals and amorphous alloys, can improve magnetic permeability and reduce iron loss, thereby improving the performance of magnetic components.
Miniaturization and integration: On the one hand, due to the limitation of the installation space of photovoltaic and energy storage systems, magnetic components need to develop in the direction of miniaturization to increase power density. On the other hand, magnetic integration technology, as an advanced magnetic component design concept, can not only effectively reduce the size of the inverter by integrating multiple magnetic components together, but also significantly reduce costs. It is becoming an important research direction and application field in the industry.
Customization: Different photovoltaic and energy storage application scenarios have different requirements for magnetic components. For example, the centralized energy storage inverter on the grid side requires magnetic components to have super strong power carrying and fast heat dissipation capabilities; the string energy storage inverter on the user side requires magnetic components to have low loss and lightweight. Therefore, magnetic component companies need to provide customized products and solutions based on the needs of different customers.
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QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 17 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting (data is widely cited in prospectuses, annual reports and presentations), industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.
QYResearch is a world-renowned large-scale consulting company. The industry covers various high-tech industry chain market segments, spanning the semiconductor industry chain (semiconductor equipment and parts, semiconductor materials, ICs, Foundry, packaging and testing, discrete devices, sensors, optoelectronic devices), photovoltaic industry chain (equipment, cells, modules, auxiliary material brackets, inverters, power station terminals), new energy automobile industry chain (batteries and materials, auto parts, batteries, motors, electronic control, automotive semiconductors, etc.), communication industry chain (communication system equipment, terminal equipment, electronic components, RF front-end, optical modules, 4G/5G/6G, broadband, IoT, digital economy, AI), advanced materials industry Chain (metal materials, polymer materials, ceramic materials, nano materials, etc.), machinery manufacturing industry chain (CNC machine tools, construction machinery, electrical machinery, 3C automation, industrial robots, lasers, industrial control, drones), food, beverages and pharmaceuticals, medical equipment, agriculture, etc.
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