# Grid Flexibility and Power Components Utility storage, microgrids, grid software, UPS and power conversion. Theme: Electrification (Energy and resources). Page: https://thematiq.io/themes/electrification/grid-flexibility-and-power-components/ ## Key facts - **The market: 247.0 GWh** Battery storage additions, expected for 2025 (installations, not dollars) (BloombergNEF, 2025) - **The build: 3** of the 8 parts in the Electrification Supercycle bill of materials, each traced to the companies that supply it (ThematIQ research) - **The companies: 24** companies worth $279 billion, earning on average 64% of their revenue here (Annual reports and exchange data, 2026-10-28) ## What it holds Listed companies that earn their revenue supplying these parts of the Electrification Supercycle bill of materials, each read from its own reports. | Part | Covers | |---|---| | Energy Storage & Grid Flexibility | utility battery storage, energy storage integration, microgrids, distributed generation | | Energy and Grid Software | grid management software, smart metering | | Power Solutions & Components | UPS systems, power conversion components, sic power semis | ## Largest companies | Company | Listing | Market value | |---|---|---| | Diodes | DIOD.XNAS | $4 billion | | Itron | ITRI.XNAS | $4 billion | | Power Integrations | POWI.XNAS | $3 billion | | Fuelcell Energy | FCEL.XNAS | $990 million | | Wolfspeed | WOLF.XNYS | $1 billion | | On Semiconductor | ON.XNAS | $29 billion | | Alpha & Omega Semiconductor | AOSL.XNAS | $746 million | | Sunrun | RUN.XNAS | $2 billion | | Generac Holdings | GNRC.XNYS | $12 billion | | Bloom Energy | BE.XNYS | $67 billion | | Eos Energy Enterprises | EOSE.XNAS | $710 million | | Energy Vault Holdings | NRGV.XNYS | $586 million | | Fluence Energy | FLNC.XNAS | $1 billion | | Infineon Technologies AG | IFX.XETRA | $78 billion | | Sungrow Power Supply | 300274.SHE | $21 billion | By listing country: United States 69%, China 22%, Germany 4%, Switzerland 4%. ## The market - Utility and stationary battery additions, expected in 2024 (installations, not dollars): 169.0 GWh (2024), BloombergNEF - Stationary storage installations (not dollars): 170.0 GWh (2024), BloombergNEF (as reported by Energy-Storage.news) - Battery storage additions, expected for 2025 (installations, not dollars): 247.0 GWh (2025), BloombergNEF - Energy storage additions worldwide (installations, not dollars): 175.4 GWh (2024), InfoLink - Battery energy storage systems generally: $51bn (2025), MarketsandMarkets - Battery energy storage systems generally (growth, a year): +16% (2025-2030), MarketsandMarkets - Grid-scale battery storage only: $15bn (2025), Market.us - Grid-scale battery storage only (growth, a year): +25% (2025-2035), Market.us - Microgrids: $36bn (2024), Straits Research - Microgrids (growth, a year): +6.2% (2025-2033), Straits Research - Microgrids: $90bn (2024), Introspective Market Research - Microgrids: $51bn (2025), Precedence Research - Microgrids: 17,845.0 USD million (2024), Credence Research - Grid-connected microgrids only: $16bn (2024), GM Insights - Smart meters: $27bn (2024), IMARC Group - Smart meters: 24,009.6 USD million (2024), Market Research Future - Smart meters: 25,166.0 USD million (2024), Credence Research - Utility-scale smart meters only: $4.0bn (2023), GM Insights - Grid management software: $8.2bn (2025), Marketintelo - Grid operations management software: $2.9bn (2025), Dataintelo - Grid operations management software: $4.8bn (2026), Markwide Research - Distribution management systems: $18bn (2025), Dataintelo - Advanced distribution management systems (2030 forecast, no base-year size given): $7.4bn (2030), MarketsandMarkets - Grid congestion management software only: $1.9bn (2025), SNS Insider - UPS systems: $10bn (2024), Precise View Reports - UPS systems: $13bn (2024), SkyQuest - Data center UPS only: $3.9bn (not stated), GM Insights - Data center UPS only: $7.2bn (not stated), Databridge - Data center UPS only: 14,000.0 USD million (2023), Valuates - UPS batteries only, not whole UPS systems: $6.6bn (2024), Market.us - Silicon carbide semiconductor devices: $2.1bn (2024), GM Insights - SiC power semiconductors: $2.9bn (2024), Market Research Future - SiC power devices: $3.0bn (2024), SNS Insider - SiC power semiconductors: $3.6bn (2024), TechSci Research - SiC power semiconductors (outlier, reason unknown): $23bn (2024), Straits Research No whole-segment or power-conversion-components estimate was found, and the figures measure different parts of the segment with different definitions, so they should not be added. Microgrid, grid software, UPS and SiC estimates disagree mainly because of scope, and the storage installation figures (GWh, not dollars) cannot be compared directly with the dollar market sizes. ### What is Grid Flexibility and Power Components? Utility storage, microgrids, grid software, UPS and power conversion. ### What does Grid Flexibility and Power Components hold? Listed companies that earn their revenue from the parts it takes to build Electrification Supercycle: Energy Storage & Grid Flexibility, Energy and Grid Software, Power Solutions & Components. 24 companies as of 2026-10-28. ### What is not in Grid Flexibility and Power Components? Utility battery energy storage systems including their power conversion: Energy Storage & Grid Flexibility, not Power Solutions & Components Gas turbines and reciprocating gas gensets: Fossil Fuel Generation, not Energy Storage & Grid Flexibility; only behind-the-meter systems sold as a microgrid package: Energy Storage & Grid Flexibility Solar panels, inverters and wind turbines: Renewable Power Generation, not Energy Storage & Grid Flexibility; distributed generation holds only non-renewable onsite generation and integrated systems ## What it is not - Utility battery energy storage systems including their power conversion: Energy Storage & Grid Flexibility, not Power Solutions & Components - Gas turbines and reciprocating gas gensets: Fossil Fuel Generation, not Energy Storage & Grid Flexibility; only behind-the-meter systems sold as a microgrid package: Energy Storage & Grid Flexibility - Solar panels, inverters and wind turbines: Renewable Power Generation, not Energy Storage & Grid Flexibility; distributed generation holds only non-renewable onsite generation and integrated systems - Solar and wind inverters and converters: Renewable Power Generation, not Power Solutions & Components; UPS, data center power supplies and discrete semiconductors: Power Solutions & Components - HVDC converter systems: Transmission Infrastructure, not Power Solutions & Components; standalone SiC and power semiconductors supplied to them: Power Solutions & Components - Smart meters and AMI: Energy and Grid Software, not Distribution Infrastructure - Standalone control and energy management software: Energy and Grid Software, not Energy Storage & Grid Flexibility; microgrids sold as complete physical systems: Energy Storage & Grid Flexibility Data as of 2026-10-28. Source: ThematIQ (industry research, company filings, exchange data), ETFIQ (fund counts), and the publishers linked above. Not investment advice.