Picture

Questions?

+1-866-353-3335

SEARCH
What are you looking for?
Need help finding what you are looking for? Contact Us
Compare

PUBLISHER: SkyQuest | PRODUCT CODE: 1463533

Cover Image

PUBLISHER: SkyQuest | PRODUCT CODE: 1463533

Global Inverters Market Size, Share, Growth Analysis, By Type(Vehicle, Solar), By Connection Type(On-grid, and Off-grid) - Industry Forecast 2024-2031

PUBLISHED:
PAGES: 202 Pages
DELIVERY TIME: 3-5 business days
SELECT AN OPTION
PDF & Excel (Single User License)
USD 5300
PDF & Excel (Multiple User License)
USD 6200
PDF & Excel (Enterprise License)
USD 7100

Add to Cart

Global inverters market size was valued at USD 17.17 billion in 2022 and is poised to grow from USD 19.92 billion in 2023 to USD 65.30 billion by 2031, at a CAGR of 16% during the forecast period (2024-2031).

The primary objective of the inverter market is to furnish efficient and dependable power conversion solutions across diverse applications. With the burgeoning demand for renewable energy sources and the escalating adoption of electric vehicles, there is an anticipated substantial surge in the demand for inverters in the foreseeable future. The upsurge in demand for renewable energy sources, encompassing solar and wind power, stands as a key driver propelling the inverter market forward. Additionally, the increasing adoption of electric vehicles serves as another catalyst fuelling the demand for inverters. Furthermore, the growing necessity for dependable power backup solutions and the escalating demand for high-efficiency power conversion technologies further contribute to the expansion of the inverter market. However, several factors restrain the growth of the inverter market, notably the elevated cost of these devices, rendering them financially inaccessible for many consumers. Moreover, the presence of low-cost alternatives such as generators poses a significant challenge for the inverter market. The absence of standardized regulations in the industry also emerges as a significant restraining factor impeding market growth. A notable challenge confronting the inverter market is the lack of standardization, which renders it arduous for manufacturers to produce high-quality and reliable inverters capable of catering to diverse applications. Despite these challenges, the increasing demand for renewable energy sources like solar and wind power is poised to drive market growth in the upcoming years. Moreover, the rising adoption of electric vehicles and the growing need for dependable power backup solutions are anticipated to present significant growth opportunities in the market. The global inverter market, playing a pivotal role in the conversion of DC to AC power for various applications, is witnessing rapid growth. Despite the challenges it faces, the escalating demand for renewable energy sources and the increasing adoption of electric vehicles are projected to fuel substantial growth in the market in the forthcoming years.

Top-down and bottom-up approaches were used to estimate and validate the size of the global inverters market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Inverters Market Segmental Analysis

The global inverters market is segmented based on the product, application and region. By type, the market is segmented into vehicle, solar, and others. By connection type, the market is segmented into on-grid, and off-grid. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Inverters Market

The surge in demand for clean and sustainable energy sources is a key driver propelling the growth of the inverter market. Inverters play a pivotal role in converting DC power generated from renewable sources like solar panels into AC power, which can be utilized in households or fed back into the grid. The escalating adoption of solar power systems and wind turbines is anticipated to drive the demand for inverters in the forthcoming years.

Restraints in the Global Inverters Market

One of the primary constraints for the market is the substantial installation and maintenance expenses linked with inverters. The installation process necessitates specialized equipment and skilled professionals, consequently elevating the overall system cost. Furthermore, regular maintenance is imperative to uphold the optimal performance of inverters, thereby contributing to additional expenses.

Market Trends of the Global Inverters Market

With the increasing awareness of the detrimental effects of fossil fuels on the environment, there is a surging demand for renewable energy sources like solar and wind energy. Inverters play a pivotal role in renewable energy systems by converting the direct current (DC) produced by these sources into alternating current (AC), which is indispensable for powering homes and businesses.

Product Code: SQMIG20D2127

Table of Contents

Executive Summary

  • Market Overview
  • Wheel of Fortune

Research Methodology

  • Information Procurement
  • Secondary & Primary Data Sources
  • Market Size Estimation
  • Market Assumptions & Limitations

Parent Market Analysis

  • Market Overview
  • Market Size
  • Market Dynamics
    • Drivers
    • Opportunities
    • Restraints
    • Challenges

Key Market Insights

  • Technology Analysis
  • Pricing Analysis
  • Supply Chain Analysis
  • Value Chain Analysis
  • Ecosystem of the Market
  • IP Analysis
  • Trade Analysis
  • Startup Analysis
  • Raw Material Analysis
  • Innovation Matrix
  • Pipeline Product Analysis
  • Macroeconomic Indicators
  • Top Investment Analysis
  • Key Success Factor
  • Degree of Competition

Market Dynamics & Outlook

  • Market Dynamics
    • Drivers
    • Opportunities
    • Restraints
    • Challenges
  • Regulatory Landscape
  • Porters Analysis
    • Competitive rivalry
    • Threat of Substitute Products
    • Bargaining Power of Buyers
    • Threat of New Entrants
    • Bargaining Power of Suppliers
  • Skyquest Special Insights on Future Disruptions
    • Political Impact
    • Economic Impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Global Inverters Market by Type

  • Market Overview
  • Vehicle
  • Solar
  • and Others

Global Inverters Market by Connection Type

  • Market Overview
  • On-grid
  • and Off-grid

Global Inverters Market Size by Region

  • Market Overview
  • North America
    • USA
    • Canada
  • Europe
    • Germany
    • Spain
    • France
    • UK
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC Countries
    • South Africa
    • Rest of MEA

Competitive Landscape

  • Top 5 Player Comparison
  • Market Positioning of Key Players, 2021
  • Strategies Adopted by Key Market Players
  • Top Winning Strategies
    • By Development
    • By Company
    • By Year
  • Recent Activities in the Market
  • Key Companies Market Share (%), 2021

Key Company Profiles

  • SMA Solar Technology AG (Germany)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • ABB Ltd. (Switzerland)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Huawei Technologies Co. Ltd. (China)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Siemens AG (Germany)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Schneider Electric SE (France)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Enphase Energy Inc. (US)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • TMEIC Corporation (Japan)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Omron Corporation (Japan)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Delta Electronics Inc. (Taiwan)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • SolarEdge Technologies Inc. (Israel)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • KACO new energy GmbH (Germany)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Sungrow Power Supply Co. Ltd. (China)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Fronius International GmbH (Austria)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Mitsubishi Electric Corporation (Japan)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Power-One Inc. (US)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Advanced Energy Industries Inc. (US)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Growatt New Energy Technology Co. Ltd. (China)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Hitachi Hi-Rel Power Electronics Pvt. Ltd. (India)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Tabuchi Electric Co. Ltd. (Japan)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Yaskawa Electric Corporation (Japan)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
Have a question?
Picture

Jeroen Van Heghe

Manager - EMEA

+32-2-535-7543

Picture

Christine Sirois

Manager - Americas

+1-860-674-8796

Questions? Please give us a call or visit the contact form.
Hi, how can we help?
Contact us!