“According to the research report, the global inverter market was valued at USD 14.27 billion in 2021 and is expected to reach USD 52.90 billion by 2030, to grow at a CAGR of 15.8% during the forecast period.”
The latest study released by Polaris Market Research titled Inverter Market: By Size, Latest Trends, Share, Huge Growth, Segments, Analysis and Forecast, 2032 evaluates market size, trend, and forecast. The report deeps dive into market data by covering key business segments and wide scope geographies.
The report delivers significant research data and proof to be a ready-to-access and self-analyzed study for managers, analysts, industry experts, and other key people, assisting them in making crucial business decisions. The report comprises qualitative and quantitative information on the Inverter Market that provides historical data and growth forecast. It covers recent developments, technologies, and the changing investment structure of the market. The report is showcased with self-explained tables and charts in a presentable format.
Manufacturers aim to design inverters that are cost-efficient and lightweight. Automobile manufacturers are investing in the creation of new technologies and expanding their production capabilities to meet the demand created by the surge in sales of electric vehicles. Therefore, demand for power inverters is expected to increase simultaneously with the growth in the trend of hybrid and electric vehicle sales around the globe during the forecast period.
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The significant growth rate in the renewable energy sector is expected to drive the growth of the market during the forecast period. Asia-Pacific has registered the highest growth rate and market share in renewable energy, owing to the increase in investment in renewable energy projects along with increased capacity and utilization.
Emerging economies such as China, India, Japan, South Korea, and Brazil are the fastest growing economies, which are engaged in investing in the electrification of remote and rural areas. An increase in population and massive urbanization are the primary drivers for the increase in the electrification rate, which fuels the demand for solar energy in these countries, thereby driving the growth of the industry.
Countries such as India, Nepal, and others in Asia-Pacific registered the highest electrification growth rates in the past five years with the help of on-grid and off-grid system solutions. An increase in solar inverter demand from emerging economies is expected to provide potential opportunities for industry expansion during the forecast period.
Top Key Players:
- Aptiv PLC
- Changsha BYD
- Continental AG
- Delta Electronics
- Inc.
- DENSO Corporation
- FIMER S.P.A
- Hitachi Astemo Ltd
- Huawei Technologies Co. Ltd.
- Lear Corporation
- Mitsubishi Electric Corporation
- Nissan Motor Co.Ltd.
- Robert Bosch GmbH
- Siemens AG
- SMA Solar Technology AG
- Sungrow Power Supply Co. Ltd
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Inverter Market Report Highlights
- The vehicle inverter segment is expected to be the fastest growing during the forecast period. This is due to the surge in demand for high efficiency and high-power density products for longer battery life and compactness
- On-grid segment accounted for the largest revenue share owing to easy feeding of energy, cost-efficiency, and high electricity requirement
- By phase, the market is categorized single phase, and three phase. The single-phase segment is expected to be the fastest growing segment during the forecast period on account of greater application in residential & small commercial applications
- Residential segment accounted for the largest revenue share. Rise in demand for the industry to energize home appliances such as lights and pumps drives the growth of this segment
- Asia-Pacific region will lead the global market by 2030. This is due to rise in need for continuous and stable power supply to address greater requirement of increasing population
Polaris Market Research has segmented the inverter market report based on based on type, connection type, phase, end-use, and region.
Inverter, Type Outlook (Revenue – USD Billion)
- Vehicle
- Solar
- Others
Inverter, Connection Type Outlook (Revenue – USD Billion)
- On grid
- Off-grid
Inverter, Phase Outlook (Revenue – USD Billion)
- Single Phase
- Three Phase
Inverter, End-Use Outlook (Revenue – USD Billion)
- Commercial
- Residential
- Industrial
Inverter, Regional Outlook (Revenue – USD Billion)
- North America
- U.S
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Key Questions Answered with This Study
- What makes the market feasible for long-term investment?
- What geographic region would have better demand for products/services?
- What opportunity emerging territory would offer to established and new entrants in the market?
- How influencing factors driving the demand for Inverter Market in the next few years?
- What is the impact analysis of various factors in the market growth?
- What strategies of major players help them acquire share in a mature market?
- What are the recent trends in the regional market?
- What will be the market-based future possibilities, development patterns, and Inverter Market elements?
Report Summary
Moreover, the study estimates the price and trend forecast, the sales and growth rate forecast, and the forecast of the production growth rate of the global and regional markets for Inverter Market for the forecast period. The analysis of the main raw materials, the analysis of the production cost structure, the analysis of the manufacturing process, and the analysis of the industrial chain have been given. Also, data points related to the product consumption value and the product consumption volume, along with the import and export status of the products, are included in this article.
Browse market data Tables and Figures and in-depth TOC on Inverter Market Forecast Report (2023-2032) @ https://www.polarismarketresearch.com/industry-analysis/inverter-market
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