The global market for Power Conditioning System in Energy Storage was estimated to be worth US$ 1215 million in 2024 and is forecast to a readjusted size of US$ 2854 million by 2031 with a CAGR of 12.9% during the forecast period 2025-2031.
Power Conditioning System in Energy Storage is the power electronics interface between energy storage batteries and the grid. It can realize the charge and discharge control and management of the battery, and at the same time realize independent decoupling control of active and reactive power. Specifically, the main functions of the power conditioning system include: Active power control: can automatically adjust the active power output according to the active power control instructions given by the monitoring system. Reactive power control: Automatically adjust reactive power output according to the reactive power instructions and grid-side voltage levels given by the monitoring and dispatching system. In addition, the energy storage system can quickly respond to frequency and power regulation through the power regulation system, helping the power system maintain stable voltage and frequency. It can provide or absorb power in a short period of time to cope with sudden load changes or power fluctuations, improving the reliability and stability of the power grid. In general, the power conditioning system is an indispensable part of the energy storage system. It achieves powerful regulation of the grid load through precise control of battery charge and discharge, thereby balancing grid supply and demand and promoting the sustainable development of energy.
The global market for Power Conditioning Systems (PCS) in energy storage is experiencing robust growth, driven by the accelerating deployment of renewable energy and the rising demand for grid stability and energy efficiency. Power conditioning systems play a vital role in regulating voltage, frequency, and waveform quality, making them a critical component in modern energy storage infrastructures. Leading market participants such as ABB, Meidensha, and Fuji Electric collectively hold approximately 38% of the global market share, reflecting a moderately consolidated competitive landscape. These companies benefit from technological expertise, established grid integration experience, and diversified portfolios catering to both utility-scale and behind-the-meter applications.
Asia has emerged as the dominant regional market, accounting for roughly 61% of global demand. The region's leadership is largely attributed to aggressive investments in battery energy storage systems (BESS), particularly in China, South Korea, and Japan, where government policies, industrial strategies, and grid modernization initiatives are accelerating deployment. North America and Europe follow with 18% and 17% market shares, respectively, fueled by renewable penetration, decarbonization mandates, and utility grid upgrades. Notably, supportive regulatory frameworks such as the Inflation Reduction Act in the U.S. and Fit-for-55 in the EU are expected to further stimulate demand in these regions.
From a product perspective, Three-Phase PCS dominate the market, representing approximately 80% of total shipments. This segment is particularly suited for large-scale and high-capacity applications, offering superior power quality, load balancing, and scalability. With growing deployment of utility-scale battery storage systems, the demand for robust three-phase solutions is expected to intensify. Single-phase systems, while important for residential and small commercial applications, remain a smaller portion of the market and face increasing competition from more cost-effective integrated inverters and hybrid systems.
Looking ahead, innovations in modular PCS designs, integration with hybrid renewable systems, and advancements in control software will be key areas of growth. However, supply chain constraints, pricing volatility in raw materials, and the need for harmonized technical standards may pose challenges to wider adoption across geographies.
This report aims to provide a comprehensive presentation of the global market for Power Conditioning System in Energy Storage, focusing on the total sales revenue, key companies market share and ranking, together with an analysis of Power Conditioning System in Energy Storage by region & country, by Type, and by Application.
The Power Conditioning System in Energy Storage market size, estimations, and forecasts are provided in terms of sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. 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 Conditioning System in Energy Storage.
Market Segmentation
By Company
- ABB
- Meidensha
- Fuji Electric
- GS Yuasa
- Nissin Electric
- Delta Electronics
- Eaton
- Omron
- Sinalda
Segment by Type
Segment by Application
- Utility Scale
- Commercial
- Residential
By Region
- North America
- Asia-Pacific
- China
- Japan
- South Korea
- Southeast Asia
- India
- Australia
- Rest of Asia-Pacific
- Europe
- Germany
- France
- U.K.
- Italy
- Netherlands
- Nordic Countries
- Rest of Europe
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size. This chapter also provides 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 2: Detailed analysis of Power Conditioning System in Energy Storage company competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: 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 4: 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 5: Revenue of Power Conditioning System in Energy Storage in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Revenue of Power Conditioning System in Energy Storage in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
Table of Contents
1 Market Overview
- 1.1 Power Conditioning System in Energy Storage Product Introduction
- 1.2 Global Power Conditioning System in Energy Storage Market Size Forecast (2020-2031)
- 1.3 Power Conditioning System in Energy Storage Market Trends & Drivers
- 1.3.1 Power Conditioning System in Energy Storage Industry Trends
- 1.3.2 Power Conditioning System in Energy Storage Market Drivers & Opportunity
- 1.3.3 Power Conditioning System in Energy Storage Market Challenges
- 1.3.4 Power Conditioning System in Energy Storage Market Restraints
- 1.4 Assumptions and Limitations
- 1.5 Study Objectives
- 1.6 Years Considered
2 Competitive Analysis by Company
- 2.1 Global Power Conditioning System in Energy Storage Players Revenue Ranking (2024)
- 2.2 Global Power Conditioning System in Energy Storage Revenue by Company (2020-2025)
- 2.3 Key Companies Power Conditioning System in Energy Storage Manufacturing Base Distribution and Headquarters
- 2.4 Key Companies Power Conditioning System in Energy Storage Product Offered
- 2.5 Key Companies Time to Begin Mass Production of Power Conditioning System in Energy Storage
- 2.6 Power Conditioning System in Energy Storage Market Competitive Analysis
- 2.6.1 Power Conditioning System in Energy Storage Market Concentration Rate (2020-2025)
- 2.6.2 Global 5 and 10 Largest Companies by Power Conditioning System in Energy Storage Revenue in 2024
- 2.6.3 Global Top Companies by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Power Conditioning System in Energy Storage as of 2024)
- 2.7 Mergers & Acquisitions, Expansion
3 Segmentation by Type
- 3.1 Introduction by Type
- 3.1.1 Three-Phase
- 3.1.2 Single-Phase
- 3.2 Global Power Conditioning System in Energy Storage Sales Value by Type
- 3.2.1 Global Power Conditioning System in Energy Storage Sales Value by Type (2020 VS 2024 VS 2031)
- 3.2.2 Global Power Conditioning System in Energy Storage Sales Value, by Type (2020-2031)
- 3.2.3 Global Power Conditioning System in Energy Storage Sales Value, by Type (%) (2020-2031)
4 Segmentation by Application
- 4.1 Introduction by Application
- 4.1.1 Utility Scale
- 4.1.2 Commercial
- 4.1.3 Residential
- 4.2 Global Power Conditioning System in Energy Storage Sales Value by Application
- 4.2.1 Global Power Conditioning System in Energy Storage Sales Value by Application (2020 VS 2024 VS 2031)
- 4.2.2 Global Power Conditioning System in Energy Storage Sales Value, by Application (2020-2031)
- 4.2.3 Global Power Conditioning System in Energy Storage Sales Value, by Application (%) (2020-2031)
5 Segmentation by Region
- 5.1 Global Power Conditioning System in Energy Storage Sales Value by Region
- 5.1.1 Global Power Conditioning System in Energy Storage Sales Value by Region: 2020 VS 2024 VS 2031
- 5.1.2 Global Power Conditioning System in Energy Storage Sales Value by Region (2020-2025)
- 5.1.3 Global Power Conditioning System in Energy Storage Sales Value by Region (2026-2031)
- 5.1.4 Global Power Conditioning System in Energy Storage Sales Value by Region (%), (2020-2031)
- 5.2 North America
- 5.2.1 North America Power Conditioning System in Energy Storage Sales Value, 2020-2031
- 5.2.2 North America Power Conditioning System in Energy Storage Sales Value by Country (%), 2024 VS 2031
- 5.3 Europe
- 5.3.1 Europe Power Conditioning System in Energy Storage Sales Value, 2020-2031
- 5.3.2 Europe Power Conditioning System in Energy Storage Sales Value by Country (%), 2024 VS 2031
- 5.4 Asia Pacific
- 5.4.1 Asia Pacific Power Conditioning System in Energy Storage Sales Value, 2020-2031
- 5.4.2 Asia Pacific Power Conditioning System in Energy Storage Sales Value by Region (%), 2024 VS 2031
- 5.5 South America
- 5.5.1 South America Power Conditioning System in Energy Storage Sales Value, 2020-2031
- 5.5.2 South America Power Conditioning System in Energy Storage Sales Value by Country (%), 2024 VS 2031
- 5.6 Middle East & Africa
- 5.6.1 Middle East & Africa Power Conditioning System in Energy Storage Sales Value, 2020-2031
- 5.6.2 Middle East & Africa Power Conditioning System in Energy Storage Sales Value by Country (%), 2024 VS 2031
6 Segmentation by Key Countries/Regions
- 6.1 Key Countries/Regions Power Conditioning System in Energy Storage Sales Value Growth Trends, 2020 VS 2024 VS 2031
- 6.2 Key Countries/Regions Power Conditioning System in Energy Storage Sales Value, 2020-2031
- 6.3 United States
- 6.3.1 United States Power Conditioning System in Energy Storage Sales Value, 2020-2031
- 6.3.2 United States Power Conditioning System in Energy Storage Sales Value by Type (%), 2024 VS 2031
- 6.3.3 United States Power Conditioning System in Energy Storage Sales Value by Application, 2024 VS 2031
- 6.4 Europe
- 6.4.1 Europe Power Conditioning System in Energy Storage Sales Value, 2020-2031
- 6.4.2 Europe Power Conditioning System in Energy Storage Sales Value by Type (%), 2024 VS 2031
- 6.4.3 Europe Power Conditioning System in Energy Storage Sales Value by Application, 2024 VS 2031
- 6.5 China
- 6.5.1 China Power Conditioning System in Energy Storage Sales Value, 2020-2031
- 6.5.2 China Power Conditioning System in Energy Storage Sales Value by Type (%), 2024 VS 2031
- 6.5.3 China Power Conditioning System in Energy Storage Sales Value by Application, 2024 VS 2031
- 6.6 Japan
- 6.6.1 Japan Power Conditioning System in Energy Storage Sales Value, 2020-2031
- 6.6.2 Japan Power Conditioning System in Energy Storage Sales Value by Type (%), 2024 VS 2031
- 6.6.3 Japan Power Conditioning System in Energy Storage Sales Value by Application, 2024 VS 2031
- 6.7 South Korea
- 6.7.1 South Korea Power Conditioning System in Energy Storage Sales Value, 2020-2031
- 6.7.2 South Korea Power Conditioning System in Energy Storage Sales Value by Type (%), 2024 VS 2031
- 6.7.3 South Korea Power Conditioning System in Energy Storage Sales Value by Application, 2024 VS 2031
- 6.8 Southeast Asia
- 6.8.1 Southeast Asia Power Conditioning System in Energy Storage Sales Value, 2020-2031
- 6.8.2 Southeast Asia Power Conditioning System in Energy Storage Sales Value by Type (%), 2024 VS 2031
- 6.8.3 Southeast Asia Power Conditioning System in Energy Storage Sales Value by Application, 2024 VS 2031
- 6.9 India
- 6.9.1 India Power Conditioning System in Energy Storage Sales Value, 2020-2031
- 6.9.2 India Power Conditioning System in Energy Storage Sales Value by Type (%), 2024 VS 2031
- 6.9.3 India Power Conditioning System in Energy Storage Sales Value by Application, 2024 VS 2031
7 Company Profiles
- 7.1 ABB
- 7.1.1 ABB Profile
- 7.1.2 ABB Main Business
- 7.1.3 ABB Power Conditioning System in Energy Storage Products, Services and Solutions
- 7.1.4 ABB Power Conditioning System in Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.1.5 ABB Recent Developments
- 7.2 Meidensha
- 7.2.1 Meidensha Profile
- 7.2.2 Meidensha Main Business
- 7.2.3 Meidensha Power Conditioning System in Energy Storage Products, Services and Solutions
- 7.2.4 Meidensha Power Conditioning System in Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.2.5 Meidensha Recent Developments
- 7.3 Fuji Electric
- 7.3.1 Fuji Electric Profile
- 7.3.2 Fuji Electric Main Business
- 7.3.3 Fuji Electric Power Conditioning System in Energy Storage Products, Services and Solutions
- 7.3.4 Fuji Electric Power Conditioning System in Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.3.5 Fuji Electric Recent Developments
- 7.4 GS Yuasa
- 7.4.1 GS Yuasa Profile
- 7.4.2 GS Yuasa Main Business
- 7.4.3 GS Yuasa Power Conditioning System in Energy Storage Products, Services and Solutions
- 7.4.4 GS Yuasa Power Conditioning System in Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.4.5 GS Yuasa Recent Developments
- 7.5 Nissin Electric
- 7.5.1 Nissin Electric Profile
- 7.5.2 Nissin Electric Main Business
- 7.5.3 Nissin Electric Power Conditioning System in Energy Storage Products, Services and Solutions
- 7.5.4 Nissin Electric Power Conditioning System in Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.5.5 Nissin Electric Recent Developments
- 7.6 Delta Electronics
- 7.6.1 Delta Electronics Profile
- 7.6.2 Delta Electronics Main Business
- 7.6.3 Delta Electronics Power Conditioning System in Energy Storage Products, Services and Solutions
- 7.6.4 Delta Electronics Power Conditioning System in Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.6.5 Delta Electronics Recent Developments
- 7.7 Eaton
- 7.7.1 Eaton Profile
- 7.7.2 Eaton Main Business
- 7.7.3 Eaton Power Conditioning System in Energy Storage Products, Services and Solutions
- 7.7.4 Eaton Power Conditioning System in Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.7.5 Eaton Recent Developments
- 7.8 Omron
- 7.8.1 Omron Profile
- 7.8.2 Omron Main Business
- 7.8.3 Omron Power Conditioning System in Energy Storage Products, Services and Solutions
- 7.8.4 Omron Power Conditioning System in Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.8.5 Omron Recent Developments
- 7.9 Sinalda
- 7.9.1 Sinalda Profile
- 7.9.2 Sinalda Main Business
- 7.9.3 Sinalda Power Conditioning System in Energy Storage Products, Services and Solutions
- 7.9.4 Sinalda Power Conditioning System in Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.9.5 Sinalda Recent Developments
8 Industry Chain Analysis
- 8.1 Power Conditioning System in Energy Storage Industrial Chain
- 8.2 Power Conditioning System in Energy Storage Upstream Analysis
- 8.2.1 Key Raw Materials
- 8.2.2 Raw Materials Key Suppliers
- 8.2.3 Manufacturing Cost Structure
- 8.3 Midstream Analysis
- 8.4 Downstream Analysis (Customers Analysis)
- 8.5 Sales Model and Sales Channels
- 8.5.1 Power Conditioning System in Energy Storage Sales Model
- 8.5.2 Sales Channel
- 8.5.3 Power Conditioning System in Energy Storage Distributors
9 Research Findings and Conclusion
10 Appendix
- 10.1 Research Methodology
- 10.1.1 Methodology/Research Approach
- 10.1.1.1 Research Programs/Design
- 10.1.1.2 Market Size Estimation
- 10.1.1.3 Market Breakdown and Data Triangulation
- 10.1.2 Data Source
- 10.1.2.1 Secondary Sources
- 10.1.2.2 Primary Sources
- 10.2 Author Details
- 10.3 Disclaimer