[Latest] Global Power Inverter Market Size/Share Worth USD

Austin, TX, USA, July 17, 2024 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Power Inverter Market Size, Trends and Insights By Type (Less than 5 KW, 5 KW to 100 KW, 100 KW to 500 KW, More than 500 KW), By Application (Motor Drives, Wind Turbines, Rail Traction, Electric Vehicle, UPS, Solar PV, Others), By End User (Residential, Commercial and Industrial, Utility), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” in its research database.

“According to the latest research study, the demand of global Power Inverter Market size & share was valued at approximately USD 54.1 Billion in 2023 and is expected to reach USD 59.5 Billion in 2024 and is expected to reach a value of around USD 110.6 Billion by 2033, at a compound annual growth rate (CAGR) of about 7.7% during the forecast period 2024 to 2033.”

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Global Power Inverter Market: Overview

A power inverter is an electronic device that converts direct current (DC) electricity into alternating current (AC) electricity. Power inverters are commonly used in a variety of applications, including off-grid solar power systems, recreational vehicles (RVs), boats, trucks, and backup power systems.

The prominent global trend in power inverters is the increasing adoption of renewable energy sources, particularly solar and wind power.

As countries worldwide strive to reduce their carbon footprint and transition towards sustainable energy systems, growing demand for power inverters to efficiently convert the DC electricity generated by solar panels and wind turbines into AC electricity for use in homes, businesses, and the grid.

This trend is fueled by advancements in renewable energy technologies, declining costs of solar panels and wind turbines, and supportive government policies incentivizing clean energy adoption.

Additionally, the rise of energy storage systems, such as batteries, further complements the use of power inverters by enabling the storage and utilization of excess renewable energy during periods of low generation or high demand, contributing to a more reliable and resilient energy infrastructure worldwide.

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By type, the 5 KW to 100 KW segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. A notable trend in the 5 kW to 100 kW power inverter segment is the increasing demand for advanced features such as high efficiency, compact design, grid integration capabilities, and enhanced monitoring and control functionalities.

By application, the motor drives segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. The trend in motor drives is shifting towards higher efficiency, compact design, and integration with IoT for enhanced monitoring and control, as industries prioritize energy savings and smart automation solutions.

By end user, the utility segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. One prominent trend in the utility sector is the increasing integration of renewable energy sources like solar and wind power into the grid, driven by environmental concerns and advancements in technology.

In the Asia-Pacific region, the trend in the power inverter market is driven by rapid industrialization, urbanization, renewable energy adoption, and government initiatives promoting energy infrastructure development and clean energy solutions.

Schneider Electric SE is a French multinational company that specializes in digital automation and energy management. It addresses homes, buildings, data centers, infrastructure and industries, by combining energy technologies, real-time automation, software, and services.

Report Scope

Feature of the Report	Details
Market Size in 2024	USD 59.5 Billion
Projected Market Size in 2033	USD 110.6 Billion
Market Size in 2023	USD 54.1 Billion
CAGR Growth Rate	7.7% CAGR
Base Year	2023
Forecast Period	2024-2033
Key Segment	By Type, Application, End User and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the Power Inverter report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

Introduction, Overview, and in-depth industry analysis are all included in the 2024 updated report.
The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request.
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2024
Includes Tables and figures have been updated.
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Custom Market Insights (CMI) research methodology

(Please note that the sample of the Power Inverter report has been modified to include the COVID-19 impact study prior to delivery.)

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CMI has comprehensively analyzed the Global Power Inverter market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict in depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global Power Inverter industry.

The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.

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Key questions answered in this report:

What is the size of the Power Inverter market and what is its expected growth rate?
What are the primary driving factors that push the Power Inverter market forward?
What are the Power Inverter Industry's top companies?
What are the different categories that the Power Inverter Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the Power Inverter market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2024−2033
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Power Inverter Market: Regional Analysis

By region, Power Inverter market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. The Asia-Pacific dominated the global Power Inverter market in 2023 with a market share of 42.3% and is expected to keep its dominance during the forecast period 2024-2033.

The Asia-Pacific rapid industrialization and urbanization across countries like China, India, and Southeast Asian nations have led to increased demand for reliable and efficient power solutions. This demand extends across various sectors including manufacturing, infrastructure development, and telecommunications, driving the need for power inverters to convert DC electricity into AC for a wide range of applications.

Additionally, the burgeoning renewable energy sector in the region, particularly in countries like China and India, has further propelled the growth of the power inverter market. With a shift towards clean energy sources such as solar and wind power, inverters play a crucial role in converting the DC electricity generated by these sources into usable AC electricity for both grid-connected and off-grid systems.

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Browse the full “Power Inverter Market Size, Trends and Insights By Type (Less than 5 KW, 5 KW to 100 KW, 100 KW to 500 KW, More than 500 KW), By Application (Motor Drives, Wind Turbines, Rail Traction, Electric Vehicle, UPS, Solar PV, Others), By End User (Residential, Commercial and Industrial, Utility), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” Report at https://www.custommarketinsights.com/report/global-power-inverter-market/

List of the prominent players in the Power Inverter Market:

ABB Ltd
Schneider Electric SE
Siemens AG
Eaton Corporation PLC
Delta Electronics Inc.
SMA Solar Technology AG
Huawei Technologies Co. Ltd.
Mitsubishi Electric Corporation
General Electric Company
Emerson Electric Co.
Toshiba Corporation
Power-One Inc.
KACO new energy GmbH
Omron Corporation
Enphase Energy Inc.
SolarEdge Technologies Inc.
Growatt New Energy Technology Co. Ltd.
Sungrow Power Supply Co. Ltd.
Chint Group
Tabuchi Electric Co. Ltd.
Others

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The Power Inverter Market is segmented as follows:

By Type

Less than 5 KW
5 KW to 100 KW
100 KW to 500 KW
More than 500 KW

By Application

Motor Drives
Wind Turbines
Rail Traction
Electric Vehicle
UPS
Solar PV
Others

By End User

Residential
Commercial and Industrial
Utility

Click Here to Get a Free Sample Report of the Global Power Inverter Market @ https://www.custommarketinsights.com/report/global-power-inverter-market

Regional Coverage:

North America

U.S.
Canada
Mexico
Rest of North America

Europe

Germany
France
U.K.
Russia
Italy
Spain
Netherlands
Rest of Europe

Asia Pacific

China
Japan
India
New Zealand
Australia
South Korea
Taiwan
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

This Power Inverter Market Research/Analysis Report Contains Answers to the following Questions.

Which Trends Are Causing These Developments?
Who Are the Global Key Players in This Power Inverter Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Global Market Status of the Power Inverter Market? What Was the Capacity, Production Value, Cost and PROFIT of the Power Inverter Market?
What Is the Current Market Status of the Power Inverter Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Power Inverter Market by Considering Applications and Types?
What Are Projections of the Global Power Inverter Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is Power Inverter Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On Power Inverter Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are Market Dynamics of Power Inverter Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Power Inverter Industry?

Click Here to Access a Free Sample Report of the Global Power Inverter Market @ https://www.custommarketinsights.com/report/global-power-inverter-market

Reasons to Purchase Power Inverter Market Report

Power Inverter Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
Power Inverter Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
Power Inverter Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Power Inverter Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

The study provides a thorough overview of the global Power Inverter market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

Buy this Premium Power Inverter Research Report | Fast Delivery Available - [220+ Pages] @ https://www.custommarketinsights.com/report/global-power-inverter-market

What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Power Inverter market analysis.

The competitive environment of current and potential participants in the Power Inverter market is covered in the report, as well as those companies' strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

Participants and stakeholders worldwide Power Inverter market should find this report useful. The research will be useful to all market participants in the Power Inverter industry.
Managers in the Power Inverter sector are interested in publishing up-to-date and projected data about the worldwide Power Inverter market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Power Inverter products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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