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Power Inverter Market Analysis, Key Company Profiles, Types, Applications and Forecast to 2030

By 1 year ago
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The global power inverter market reached a value of US$ 75.25 Billion in 2022 and the market is expected to reach US$ 115.84 Billion by 2030, exhibiting a CAGR of 5.54%.

Power Inverter Market Introuction:-

A power inverter is a mechanical device that is equipped with the ability to transform DC power from battery into AC power that can be used to operate any electrical equipment. These inverters draw their power from 12 Volt batteries which need to be charged at regular intervals. These batteries can be charged using solar panels, automobile motors, gas generators or any other power source.

A power inverter is an electrical circuit that changes Direct Current (DC) to Alternating Current (AC). The design of the electrical circuit determines the frequency, power, input, and output. The power inverter is less expensive to operate than a generator and makes change-over switches easier to use. Power inverters are used in several tools, electrical goods, and home appliances as a result of these qualities. Power inverters come in a wide variety of styles, dimensions, and power capacities. A few of them include plug-in grid-tie power inverters, sine wave power inverters, and solar power inverters. Power inverters are utilised in commercial, industrial, and residential settings.

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Segmental assessment of global power inverter market

Based on type

  • 100-495 KW
  • 5-95 KW
  • More than 500 KW
  • less than 5 KW

Among these, 5-95 KW segment is poised to garner significant returns over the assessment timeline ascribing to the rapid adoption of power inverters of this range in residential sectors.

By end use

  • commercial
  • residential
  • utility

The commercial segment is expected to amass notable gains over 2022-2030. This attributed to the escalating demand for continuous power supply in commercial complexes such as malls, gyms, among others.

On the basis of application

  • EVs/HEVs
  • rail traction
  • solar PVs
  • uninterruptible power supply
  • wind turbines
  • motor drives
  • others

Among these, the motor drive segment is predicted to capture a substantial revenue share over the stipulated timeline. This is credited to the rising adoption of motor drives across the world.

Which is the fastest growing region in the market?

The major regions defining the geographical terrain of global power inverter market are North America, Middle East & Africa, Asia Pacific, Europe, and Latin America. Asia Pacific is poised to showcase lucrative growth trends over the forecast period of 2022-2030. This is ascribed to the widespread industrialization, increasing government initiatives towards the electrification of rural locations, and lifestyle improvements driven by disposable income growth.

Expounding the competitive landscape of the industry

The prominent players defining the competitive ambit of this business sphere are ABB Ltd., SMA Solar Technology, Huawei Technologies Co., Schneider Electric SE, Toshiba Mitsubishi Electric Industrial Systems Corporation, Omron Corporation, Enphase Energy, Inc., Tabuchi Electric Co., Ltd., Advanced Energy Industries, Inc., and SolarEdge Technologies, Inc.

The aforementioned companies are constantly engaging in various business expansion activities such as mergers & acquisitions, new product launches, collaboration deals, partnerships, R&D investments, among others to stay ahead of the competitors and amplify their customer base across the globe.

Top Key Players:-

  • Omron Corporation
  • ABB Ltd
  • Tabuchi Electric Co., Ltd
  • Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC)
  • Advanced Energy Industries, Inc
  • Enphase Energy, Inc
  • Schneider Electric SE
  • Huawei Technologies Co., Ltd
  • SolarEdge Technologies Inc
  • Sungrow Power Supply
  • Power Electronics
  • Fronius International
  • Altenergy Power System
  • Darfon Electronics
  • Delphi Technologies
  • Schneider Electric
  • Delta Electronics
  • Yaskawa Solectria Solar
  • Kaco New Energy

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