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Power Inverter Market

Power Inverter Market

Power Inverter Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

171

Base Year:

2021

Date

Apr - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1492

Segments Covered
  • By Type <5KW, 5KW to 95KW, 100KW to 495KW, Above 500KW
  • By Application Motor Drives, Uninterruptible Power Supply (UPS), Rail Traction, Wind Turbines, Electric Vehicles/Hybrid Electric Vehicles, Solar PVs, Others
  • By End Use Utility, Residential, Commercial and Industrial
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 70.5 Billion
Revenue 2028Revenue 2028: USD 95 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 5.1%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Power Inverter Market Share

Market Synopsis:

The Global Power Inverter Market is valued at USD 70.5 Billion in the year 2021 and is projected to reach a value of USD 95 Billion by the year 2028. The Global Market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 5.1% over the forecast period.

Power Inverter Market Size, 2021 To 2028 (USD Billion)

An electrical system that transforms direct current (DC) from solar panels, batteries, or high voltage DC transmission lines to alternating current (AC) is known as a Power Inverter (AC). It is used to power machines, equipment, and other electrical appliances in both household and commercial settings. In comparison to traditional generators, inverters are often smaller, lighter, and more energy efficient. The Power Inverter industry is currently being driven by a number of favorable aspects. Technological advancements have led to portable inverters that can be used to charge cell phones and tablets while commuting, boosting the industry's growth. Motor drives are becoming more popular around the world as people become more reliant on electronic devices.

The majority of the population is now reliant on electronic equipment and devices, such as air conditioners, televisions, computers, and refrigerators, as a result of increasing electrification and fast urbanization. It has resulted in a significant increase in the need for Power Inverters to provide an uninterrupted electricity supply as well as a reliable backup option in the event of a power outage. Furthermore, inverters produce no emissions when generating energy and are significantly quieter than traditional generators. Manufacturers in the sector are investing in research and development to develop new technologies that will improve the features of these inverters. They are both noiseless and environmentally favorable. They produce no CO2 and do not require the gasoline that generators do. The Power Inverter is quite expensive and has a relatively short lifespan. These issues may limit Power Inverter expansion. If the battery degeneration is severe, the inverters cannot be used continuously. The market for Power Inverters has several issues.

Market Segmentation:

The Power Inverter Market is segmented on the basis of Type, Application and End-Use Sector. On the basis of Type, the market is segmented into <5KW, 5KW to 95KW, 100KW to 495KW and Above 500KW. On the basis of Application, the market is segmented into Motor Drives, Uninterruptible Power Supply (UPS), Rail Traction, Wind Turbines, Electric Vehicles/Hybrid Electric Vehicles (EVs/HEVs), Solar PVs and Others. On the basis of End-Use Sector, the market is segmented Utility, Residential and Commercial and Industrial.

Based on Type:

On the basis of Application, the market is segmented into Motor Drives, Uninterruptible Power Supply (UPS), Rail Traction, Wind Turbines, Electric Vehicles/Hybrid Electric Vehicles (EVs/HEVs), Solar PVs and Others. In 2021, the motor drive segment dominated the Global Power Inverter Market. This is due to the increased popularity and adoption of motor drives around the world. Motor drives account for approximately 45% of total electric energy consumption across all electric appliances. The increased efficiency of motor drives has fueled this segment's growth in the Global Power Inverters market.

Below tree is interactive. You can click the nodes to get more information.

Based on End-Use Sector:

On the basis of End-Use Sector, the market is segmented Utility, Residential and Commercial and Industrial. In 2021 the worldwide Power Inverter Market was dominated by the residential segment. The use of Power Inverters among residential users has been fueled by increased government expenditure on infrastructure and electricity. A major element driving the deployment of Power Inverters in residential units around the world is the growing number of residential structures and urbanization. Furthermore, as the demand for various consumer gadgets grows among household users, so will the demand for Power Inverters in the residential sector.

Asia Pacific Holds the Largest Market Share in Terms of Revenue

Asia Pacific is projected to acquire the largest market share during the year 2021 with a share of 38.4%. The electric vehicle Power Inverter Market is led by Asia-Pacific. Electric vehicle sales in China are increasing at a rapid rate. The epidemic had a negative impact on the world economy, yet despite this, electric car sales in China soared. China's government intends to quadruple the rate at which electric vehicles are produced and sold in the country. These government promises, as well as growing public interest in electric vehicles, are luring global vehicle manufacturers to set up manufacturing in China, bolstering the country's Power Inverter industry. Japan's automobile industry is one of the most well-known in the world, with powerful automobile manufacturers offering Japanese products all over the world. Electric car and component sales are predicted to increase in Japan as a result of several collaborations and joint ventures.

Competitive Landscape:

Key players operating in the Global Power Inverter Market include- SMA Solar Technology AG, Omron Corporation, ABB Ltd, Tabuchi Electric Co. Ltd, Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC), Advanced Energy Industries Inc., Enphase Energy Inc., Schneider Electric SE, Huawei Technologies Co. Ltd., SolarEdge Technologies Inc. and others.

Segmentation of the Global Power Inverter Market:

Parameter Details
Segments Covered
  • Type (<5KW, 5KW to 95KW, 100KW to 495KW, Above 500KW)
  • Application (Motor Drives, Uninterruptible Power Supply (UPS), Rail Traction, Wind Turbines, Electric Vehicles/Hybrid Electric Vehicles, Solar PVs, Others)
  • End Use (Utility, Residential, Commercial and Industrial)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • SMA Solar Technology AG
  • Omron Corporation
  • ABB Ltd
  • Tabuchi Electric Co. Ltd
  • Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC)
  • Advanced Energy Industries Inc.
  • Enphase Energy Inc.
  • Schneider Electric SE
  • Huawei Technologies Co. Ltd.
  • SolarEdge Technologies Inc.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Power Inverter Market to Reach Valuation of USD 95 Billion by 2028 - Increasing adoption of electronic devices to Drive the Market Growth
From the period 2022 to 2028, the Global Power Inverter Market is expected to reach USD 95 Billion in terms of revenue, growing at a Compound Annual Growth Rate (CAGR) of 5.1%. Individuals around the world have been able to spend more on things like Power Inverter Markets, which improve their life...
FAQ
Frequently Asked Question
  • The global Power Inverter valued at USD 70.5 Billion in 2020 and is expected to reach USD 95 Billion in 2028 growing at a CAGR of 5.1%.

  • The prominent players in the market are SMA Solar Technology AG, Omron Corporation, ABB Ltd, Tabuchi Electric Co. Ltd, Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC), Advanced Energy Industries Inc., Enphase Energy Inc., Schneider Electric SE, Huawei Technologies Co. Ltd., SolarEdge Technologies Inc..

  • The market is project to grow at a CAGR of 5.1% between 2021 and 2028.

  • The driving factors of the Power Inverter include

    • The rapid economic growth and rising disposable incomes of individuals

  • Asia Pacific was the leading regional segment of the Power Inverter in 2020.