Global Power Inverter Market Report and Forecast 2023-2028
Global Power Inverter Market Report and Forecast 2023-2028
Abstract
Global Power Inverter Market Report and Forecast 2023-2028
Market Outlook
According to the report by Expert Market Research (EMR), the global power inverter market attained a value of USD 83.05 billion in 2022. Aided by the growing demand for clean energy solutions and the increasing adoption of electric vehicles, the market is projected to further grow at a CAGR of 12.4% between 2023 and 2028 to reach a value of USD 173.05 billion by 2028.
Power inverters are electronic devices that transform direct current (DC) into alternating current (AC) from sources like batteries, solar panels, or fuel cells for use in a variety of applications, such as home appliances, electric vehicles, and industrial equipment. Power inverters come in various types, such as pure sine wave, modified sine wave, and square wave inverters, catering to different requirements and applications.
The increasing demand for clean energy solutions is a key factor driving the global power inverter market growth. As countries worldwide strive to reduce their dependence on fossil fuels and transition towards renewable energy sources, the adoption of power inverters in solar power systems has increased significantly.
Another factor propelling the power inverter market expansion is the rising adoption of electric vehicles (EVs). Power inverters are essential components in EVs as they convert the DC from the battery to AC, which is required to power the electric motor. With governments across the globe implementing policies and incentives to promote the adoption of EVs, the demand for power inverters is expected to grow substantially during the forecast period.
The incorporation of digital signal processing (DSP) technology in power inverters has enhanced their control and monitoring capabilities, enabling real-time monitoring, protection, and performance optimisation. This technology also facilitates remote monitoring and control, providing better insights into system performance and diagnostics.
The expanding use of power inverters in industrial applications is also propelling the growth of the power inverter market. Inverters are widely used in motor drives for industrial machinery, providing precise control of speed and torque, resulting in increased energy efficiency and reduced maintenance costs. The rapid industrialisation in emerging economies, coupled with the need for energy-efficient solutions, is expected to boost the demand for power inverters in industrial applications, thereby boosting the power inverter market demand.
Market Breakup by Rating
•<5KW
•5kW to 100kW
•100kW to 500kW
•Above 500kW
Market Breakup by Application
•Motor Drives
•UPS
•Rail Traction
•Wind Turbines
•EVs/HEVs
•Solar PVs
•Others
Market Breakup by End Use
•Utilities
•Residential
•Commercial and Industrial
•Automotive and Transportation
•Others
Market Breakup by Region
•North America
•Europe
•Asia Pacific
•Latin America
•Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global power inverter companies. Some of the major key players explored in the report by Expert Market Research are as follows:
•Huawei Technologies Co., Ltd.
•SMA Solar Technology AG
•Tabuchi Electric Co., Ltd.
•OMRON Corporation
•SolarEdge Technologies Inc.
•Others
*We at Expert Market Research always strive to provide you with may be different from the actual report.
Content
Table of Contents
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Power Inverter Market Analysis
8.1 Key Industry Highlights
8.2 Global Power Inverter Historical Market (2018-2022)
8.3 Global Power Inverter Market Forecast (2023-2028)
8.4 Global Power Inverter Market by Rating
8.4.1 <5KW
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 5kW to 100kW
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 100kW to 500kW
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Above 500kW
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.5 Global Power Inverter Market by Application
8.5.1 Motor Drives
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 UPS
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Rail Traction
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Wind Turbines
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 EVs/HEVs
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
8.5.6 Solar PVs
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2018-2022)
8.5.6.3 Forecast Trend (2023-2028)
8.5.7 Others
8.6 Global Power Inverter Market by End Use
8.6.1 Utilities
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Residential
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Commercial and Industrial
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.3 Automotive and Transportation
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Others
8.7 Global Power Inverter Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Market (2018-2022)
9.3.2 Market Forecast (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Loans and Financial Assistance
13 Project Economics
13.1 Capital Cost of Project
13.2 Techno-Economic Parameters
13.3 Product Pricing and Margins
13.4 Taxation and Depreciation
13.5 Income Projections
13.6 Expenditure Projections
13.7 Financial Projections
13.8 Profit Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Huawei Technologies Co., Ltd.
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Financial Summary
14.2.1.5 Certifications
14.2.2 SMA Solar Technology AG
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Financial Summary
14.2.2.5 Certifications
14.2.3 Tabuchi Electric Co.,Ltd.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Financial Summary
14.2.3.5 Certifications
14.2.4 OMRON Corporation
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Financial Summary
14.2.4.5 Certifications
14.2.5 SolarEdge Technologies Inc.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Financial Summary
14.2.5.5 Certifications
14.2.6 Others
15 Industry Events and Developments
Market Outlook
According to the report by Expert Market Research (EMR), the global power inverter market attained a value of USD 83.05 billion in 2022. Aided by the growing demand for clean energy solutions and the increasing adoption of electric vehicles, the market is projected to further grow at a CAGR of 12.4% between 2023 and 2028 to reach a value of USD 173.05 billion by 2028.
Power inverters are electronic devices that transform direct current (DC) into alternating current (AC) from sources like batteries, solar panels, or fuel cells for use in a variety of applications, such as home appliances, electric vehicles, and industrial equipment. Power inverters come in various types, such as pure sine wave, modified sine wave, and square wave inverters, catering to different requirements and applications.
The increasing demand for clean energy solutions is a key factor driving the global power inverter market growth. As countries worldwide strive to reduce their dependence on fossil fuels and transition towards renewable energy sources, the adoption of power inverters in solar power systems has increased significantly.
Another factor propelling the power inverter market expansion is the rising adoption of electric vehicles (EVs). Power inverters are essential components in EVs as they convert the DC from the battery to AC, which is required to power the electric motor. With governments across the globe implementing policies and incentives to promote the adoption of EVs, the demand for power inverters is expected to grow substantially during the forecast period.
The incorporation of digital signal processing (DSP) technology in power inverters has enhanced their control and monitoring capabilities, enabling real-time monitoring, protection, and performance optimisation. This technology also facilitates remote monitoring and control, providing better insights into system performance and diagnostics.
The expanding use of power inverters in industrial applications is also propelling the growth of the power inverter market. Inverters are widely used in motor drives for industrial machinery, providing precise control of speed and torque, resulting in increased energy efficiency and reduced maintenance costs. The rapid industrialisation in emerging economies, coupled with the need for energy-efficient solutions, is expected to boost the demand for power inverters in industrial applications, thereby boosting the power inverter market demand.
Market Breakup by Rating
•<5KW
•5kW to 100kW
•100kW to 500kW
•Above 500kW
Market Breakup by Application
•Motor Drives
•UPS
•Rail Traction
•Wind Turbines
•EVs/HEVs
•Solar PVs
•Others
Market Breakup by End Use
•Utilities
•Residential
•Commercial and Industrial
•Automotive and Transportation
•Others
Market Breakup by Region
•North America
•Europe
•Asia Pacific
•Latin America
•Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global power inverter companies. Some of the major key players explored in the report by Expert Market Research are as follows:
•Huawei Technologies Co., Ltd.
•SMA Solar Technology AG
•Tabuchi Electric Co., Ltd.
•OMRON Corporation
•SolarEdge Technologies Inc.
•Others
*We at Expert Market Research always strive to provide you with may be different from the actual report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Power Inverter Market Analysis
8.1 Key Industry Highlights
8.2 Global Power Inverter Historical Market (2018-2022)
8.3 Global Power Inverter Market Forecast (2023-2028)
8.4 Global Power Inverter Market by Rating
8.4.1 <5KW
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 5kW to 100kW
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 100kW to 500kW
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Above 500kW
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.5 Global Power Inverter Market by Application
8.5.1 Motor Drives
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 UPS
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Rail Traction
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Wind Turbines
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 EVs/HEVs
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
8.5.6 Solar PVs
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2018-2022)
8.5.6.3 Forecast Trend (2023-2028)
8.5.7 Others
8.6 Global Power Inverter Market by End Use
8.6.1 Utilities
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Residential
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Commercial and Industrial
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.3 Automotive and Transportation
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Others
8.7 Global Power Inverter Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Market (2018-2022)
9.3.2 Market Forecast (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Loans and Financial Assistance
13 Project Economics
13.1 Capital Cost of Project
13.2 Techno-Economic Parameters
13.3 Product Pricing and Margins
13.4 Taxation and Depreciation
13.5 Income Projections
13.6 Expenditure Projections
13.7 Financial Projections
13.8 Profit Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Huawei Technologies Co., Ltd.
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Financial Summary
14.2.1.5 Certifications
14.2.2 SMA Solar Technology AG
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Financial Summary
14.2.2.5 Certifications
14.2.3 Tabuchi Electric Co.,Ltd.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Financial Summary
14.2.3.5 Certifications
14.2.4 OMRON Corporation
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Financial Summary
14.2.4.5 Certifications
14.2.5 SolarEdge Technologies Inc.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Financial Summary
14.2.5.5 Certifications
14.2.6 Others
15 Industry Events and Developments
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