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Power Inverter Market Overview:
The Power Inverter Market is anticipated to attain a market value of $100 billion by the year 2030, exhibiting a steady compound annual growth rate CAGR of 5% during the forecast period spanning from 2023 to 2030.
The global power inverter market has been experiencing steady growth. This growth can be attributed to several factors, including the increasing demand for uninterrupted power supply, the growth of renewable energy sources, and the expanding automotive and industrial sectors.
Power inverters are electric devices that transform direct current (DC) into alternating current (AC). Unlike generators, power inverters offer low operating costs and eliminate the inconvenience of using change-over switches. Owing to these characteristics, they are used to operate several tools, household appliances, and other electrical products. Power inverters are available in a variety of sizes, types, and power ranges as per the varied consumer needs and preferences. Some of these variants include modified sine wave power inverters, plug-in grid tie power inverters, and solar power inverters.
Market Snapshot:
Power Inverter Market - Report Coverage:
The “Power Inverter Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Power Inverter Market.
Power Inverter Market - Top Trends:
Rise in Renewable Energy Integration: One of the most significant trends in the power inverter market is the increasing integration of renewable energy sources, particularly solar and wind. Power inverters play a vital role in converting the DC power generated by solar panels and wind turbines into usable AC power for homes, businesses, and the grid.
Energy Storage Solutions: The growth of energy storage systems, including residential and commercial battery storage, is driving the demand for power inverters. These inverters are essential for efficiently converting and managing energy stored in batteries, enabling homeowners and businesses to use stored energy when needed.
Electric Vehicles (EVs): With the global shift towards electric vehicles, there's a growing demand for automotive power inverters. These inverters are crucial for converting DC power from batteries into AC power for electric vehicle motors and charging systems.
Advanced Inverter Technologies: Power inverter manufacturers are continually innovating to improve efficiency and performance. This includes the development of advanced inverter technologies such as high-frequency and multi-level inverters, which enhance energy conversion efficiency and reduce losses.
Smart and Grid-Tied Inverters: Smart inverters are becoming more popular, especially in grid-connected solar systems. These inverters offer advanced monitoring and control capabilities, allowing users to optimize energy production and consumption. Grid-tied inverters are designed to synchronize with the grid, facilitating the export of excess energy and grid stability.
Key Market Players:
1. Enphase Energy
2. Fimer Group
3. GOODWE
4. Huawei Technologies Co., Ltd
5. General Electric
6. SMA Solar Technology AG
7. Omron Corporation
8. ABB Ltd
9. Tabuchi Electric Co., Ltd
10. Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC)
Scope of Report:
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1. Power Inverter Market - Overview
1.1. Definitions and Scope
2. Power Inverter Market - Executive Summary
3. Power Inverter Market - Comparative Analysis
3.1. Company Benchmarking - Key Companies
3.2. Global Financial Analysis - Key Companies
3.3. Market Share Analysis - Key Companies
3.4. Patent Analysis
3.5. Pricing Analysis
4. Power Inverter Market - Start-up Companies Scenario
4.1. Key Start-up Company Analysis by
4.1.1. Investment
4.1.2. Revenue
4.1.3. Venture Capital and Funding Scenario
5. Power Inverter Market – Market Entry Scenario Premium
5.1. Regulatory Framework Overview
5.2. New Business and Ease of Doing Business Index
5.3. Case Studies of Successful Ventures
6. Power Inverter Market - Forces
6.1. Market Drivers
6.2. Market Constraints
6.3. Market Challenges
6.4. Porter's Five Force Model
6.4.1. Bargaining Power of Suppliers
6.4.2. Bargaining Powers of Customers
6.4.3. Threat of New Entrants
6.4.4. Rivalry Among Existing Players
6.4.5. Threat of Substitutes
7. Power Inverter Market – Strategic Analysis
7.1. Value Chain Analysis
7.2. Opportunities Analysis
7.3. Market Life Cycle
8. Power Inverter Market – By Type (Market Size – $Million/$Billion)
8.1. Less than 5 KW
8.1.1. Market Trends by Region
8.1.2. Market Share & Forecast by Region
8.2. 5 KW to 100 KW
8.2.1. Market Trends by Region
8.2.2. Market Share & Forecast by Region
8.3. 100 KW to 500 KW
8.3.1. Market Trends by Region
8.3.2. Market Share & Forecast by Region
8.4. More than 500 KW
8.4.1. Market Trends by Region
8.4.2. Market Share & Forecast by Region
9. Power Inverter Market – By End Use (Market Size – $Million/$Billion)
9.1. Utility
9.1.1. Market Trends by Region
9.1.2. Market Share & Forecast by Region
9.2. Commercial
9.2.1. Market Trends by Region
9.2.2. Market Share & Forecast by Region
9.3. Residential
9.3.1. Market Trends by Region
9.3.2. Market Share & Forecast by Region
10. Power Inverter Market – By Product (Market Size – $Million/$Billion)
10.1. String Inverter
10.1.1. Market Trends by Region
10.1.2. Market Share & Forecast by Region
10.2. Micro Inverter
10.2.1. Market Trends by Region
10.2.2. Market Share & Forecast by Region
10.3. Central Inverter
10.3.1. Market Trends by Region
10.3.2. Market Share & Forecast by Region
10.4. Others
10.4.1. Market Trends by Region
10.4.2. Market Share & Forecast by Region
11. Power Inverter Market – By Application (Market Size – $Million/$Billion)
11.1. Motor Drives
11.1.1. Market Trends by Region
11.1.2. Market Share & Forecast by Region
11.2. Motor Drives
11.2.1. Market Trends by Region
11.2.2. Market Share & Forecast by Region
11.3. Uninterruptible Power Supply
11.3.1. Market Trends by Region
11.3.2. Market Share & Forecast by Region
11.4. EVs/HEVs
11.4.1. Market Trends by Region
11.4.2. Market Share & Forecast by Region
11.5. Wind Turbines
11.5.1. Market Trends by Region
11.5.2. Market Share & Forecast by Region
11.6. Solar PVs
11.6.1. Market Trends by Region
11.6.2. Market Share & Forecast by Region
14. Power Inverter Market – by Geography (Market Size – $Million/$Billion)
14.1. North America
14.1.1. The U.S.
14.1.2. Canada
14.2. Europe
14.2.1. UK
14.2.2. Germany
14.2.3. France
14.2.4. Italy
14.2.5. Spain
14.2.6. Russia
14.2.7. Rest of Europe
14.3. Asia-Pacific
14.3.1. China
14.3.2. India
14.3.3. Japan
14.3.4. South Korea
14.3.5. Australia & New Zealand
14.3.6. Rest of Asia-Pacific
14.4. South America
14.4.1. Brazil
14.4.2. Argentina
14.4.3. Chile
14.4.4. Colombia
14.4.5. Rest of South America
14.5. Rest of the World
14.5.1. Middle East
14.5.2. Africa
15. Power Inverter Market – Entropy
15.1. New product launches
15.2. M&A’s, collaborations, JVs and partnerships
16. Power Inverter Market – Industry/Segment Competition Landscape
16.1. Market Share Analysis
16.1.1. Market Share by Product Type – Key Companies
16.1.2. Market Share by Region – Key Companies
16.1.3. Market Share by Country – Key Companies
16.2. Competition Matrix
16.3. Best Practices for Companies
17. Power Inverter Market – Key Company List by Country Premium
18. Power Inverter Market - Company Analysis
18. 1. Enphase Energy
18. 2. Fimer Group
18.3. GOODWE
18.4. Huawei Technologies Co., Ltd
18.5. General Electric
18.6. SMA Solar Technology AG
18.7. Omron Corporation
18.8. ABB Ltd
18.9. Tabuchi Electric Co., Ltd
18.10. Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC)
18.11. Advanced Energy Industries, Inc.
18.12. Enphase Energy, Inc.
18.13. Schneider Electric SE
18.14. Growatt New Energy
18.15. Luminous India
18.16. KACO New Energy
18.17. SolarEdge Technologies Inc.
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The Power Inverter Market is projected to grow at 5% CAGR during the forecast period 2023-2030.
Power Inverter Market size is Estimated to reach 100 billion by 2030
The Top Companies in the Power Inverter Market are Enphase Energy, Fimer Group, GOODWE, Huawei Technologies Co., Ltd, General Electric and others.