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Report
Global Power Inverter Market Report and Forecast 2024-2032
Market Report I 2023-12-14 I 198 Pages I EMR Inc.
Global Power Inverter Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the global power inverter market is projected to grow at a substantial rate between 2024 and 2032. Aided by the increasing demands for energy-efficient power solutions and the rapid expansion of renewable energy, the market is expected to grow significantly by 2032.
Power inverters play a crucial role in modern energy systems by converting direct current (DC) to alternating current (AC), making them essential for both domestic and industrial applications. They are pivotal in renewable energy systems, particularly in solar and wind power generation, where they transform DC electricity produced by solar panels or turbines into usable AC power.
The global shift towards renewable energy sources, like solar and wind power, is a significant driver for the power inverter market growth, as these systems require efficient inverters for energy conversion. The automotive sector, especially in electric vehicles (EVs), increasingly relies on power inverters for efficient energy conversion, boosting market growth.
Technological advancements leading to higher efficiency, durability, and reduced costs of power inverters contribute to market expansion. The rising global energy consumption and electrification in developing countries fuel the demand for power inverters. The expansion of off-grid and hybrid renewable energy systems in remote areas offers significant growth prospects for the power inverter market.
Asia-Pacific leads the market, driven by rapid industrialisation, growing renewable energy installations, and increasing adoption of electric vehicles, particularly in China and India. North America and Europe also hold substantial market shares, attributed to their advanced technological infrastructure and strong focus on renewable energy.
As per the power inverter market analysis, the market is characterised by the presence of several leading players who are continuously innovating and expanding their product portfolios to cater to the diverse needs of the market. Strategic partnerships, mergers, acquisitions, and investments in research and development are common strategies employed by these players to maintain their market dominance.
Additionally, the market is poised for significant growth, driven by the ongoing global transition to renewable energy, technological advancements, and increasing applications in various sectors. The growing trend of smart inverters integrated with IoT technology for enhanced performance monitoring and management also contributes to the power inverter market size.
Market Segmentation
The market can be divided based on rating, application, end use, and region.
Market Breakup by Rating
- <5KW
- 5KW to 100W
- 100KW to 500KW
- Above 500KW
Market Breakup by Application
- Motor Drives
- UPS
- Rail Traction
- Wind Turbines
- EVs/HEVs
- Solar PVs
- Others
Market Breakup by End Use
- Utilities
- Residential
- Commercial and Industrial
- Automotive and Transportation
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global power inverter market. Some of the major players explored in the report by Expert Market Research are as follows:
- Huawei Technologies Co., Ltd.
- SMA Solar Technology AG
- Tabuchi Electric Co., Ltd.
- OMRON Corporation
- SolarEdge Technologies Inc.
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Power Inverter Market Analysis
8.1 Key Industry Highlights
8.2 Global Power Inverter Historical Market (2018-2023)
8.3 Global Power Inverter Market Forecast (2024-2032)
8.4 Global Power Inverter Market by Rating
8.4.1 <5KW
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 5kW to 100kW
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 100kW to 500kW
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Above 500kW
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.5 Global Power Inverter Market by Application
8.5.1 Motor Drives
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 UPS
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Rail Traction
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Wind Turbines
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.5.5 EVs/HEVs
8.5.5.2 Historical Trend (2018-2023)
8.5.5.3 Forecast Trend (2024-2032)
8.5.6 Solar PVs
8.5.6.2 Historical Trend (2018-2023)
8.5.6.3 Forecast Trend (2024-2032)
8.5.7 Others
8.6 Global Power Inverter Market by End Use
8.6.1 Utilities
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Residential
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Commercial and Industrial
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.6.3 Automotive and Transportation
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.6.4 Others
8.7 Global Power Inverter Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Power Inverter Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Power Inverter Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Power Inverter Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Power Inverter Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Power Inverter Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Loans and Financial Assistance
17 Project Economics
17.1 Capital Cost of Project
17.2 Techno-Economic Parameters
17.3 Product Pricing and Margins
17.4 Taxation and Depreciation
17.5 Income Projections
17.6 Expenditure Projections
17.7 Financial Projections
17.8 Profit Analysis
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Huawei Technologies Co., Ltd.
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 SMA Solar Technology AG
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Tabuchi Electric Co.,Ltd.
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 OMRON Corporation
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 SolarEdge Technologies Inc.
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.3.6 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Power Inverter Market: Key Industry Highlights, 2017 and 2027
2. Global Power Inverter Historical Market: Breakup by Rating (USD Billion), 2018-2023
3. Global Power Inverter Market Forecast: Breakup by Rating (USD Billion), 2024-2032
4. Global Power Inverter Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Power Inverter Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Power Inverter Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Power Inverter Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Power Inverter Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Power Inverter Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Power Inverter Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Power Inverter Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Power Inverter Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Power Inverter Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Power Inverter Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Power Inverter Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Power Inverter Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Power Inverter Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Power Inverter Market Structure
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