Power Inverter Market - Forecast(2024 - 2030)

Report Code: EPR 0097 Report Format: PDF + Excel

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.

AttributeSegment

By Type

  • Less than 5 KW

  • 5 KW to 100 KW

  • 100 KW to 500 KW

  • More than 500 KW

 

By End Use

  • Utility

  • Commercial

  • Residential


By Product

  • String Inverter

  • Micro Inverter

  • Central Inverter

  • Others

 

 


By Application                   

  • Motor Drives

  • Rail Traction

  • Uninterruptible Power Supply

  • EVs/HEVs

  • Wind Turbines

  • Solar PVs




By Region

  • North America  (U.S., Canada, Mexico)

  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)

  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)

  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)

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: 


Report MetricDetails

Base Year Considered

2022

Forecast Period

2023 – 2030

CAGR

5%

Market Size in 2030

100 billion


Segment Covered

  • By Type

  • By Product

  • By End User

  • By Application





Geographies Covered

  • North America  (U.S., Canada, Mexico)

  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)

  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)

  • LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)






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)


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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.