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Power Inverter Market Report by Type, Application, End-Use Sector, and Region 2024-2032

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    Report

  • 146 Pages
  • March 2024
  • Region: Global
  • IMARC Group
  • ID: 5946812
Description Jump to:
The global power inverter market size reached US$ 80.0 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 121.7 Billion by 2032, exhibiting a growth rate (CAGR) of 4.8% during 2023-2032.

Power inverters are electric devices that transform direct current (DC) into alternating current (AC). Unlike generators, power inverters offer low operating cost and eliminate the inconvenience of using change-over switches. Owing to these characteristics, they are used to operate several tools, household appliances and other electrical products. Power inverters are available in a variety of sizes, types and power ranges as per the varied consumer needs and preferences. Some of these variants include modified sine wave power inverters, plug-in grid tie power inverters, and solar power inverters.

Power Inverter Market Trends:

The rapid economic growth and rising disposable incomes of individuals across the globe have enabled them to spend more on products like power inverters, which enhance their lifestyles and provide comfort. Along with this, with rapid urbanization and growing electrification rates, most people nowadays rely on electronic appliances and gadgets. This has resulted in a significant need for an uninterrupted power supply, in turn increasing the sales of power inverters as an alternate backup solution in case of outages. Besides this, they are noise-free and environment-friendly in nature as they do not emit carbon emissions and eliminate the need for gasoline, which is required for running generators. Moreover, manufacturers are investing in research and development (R&D) activities to introduce new technologies and enhance their operational characteristics. For instance, they have recently invented a new class of power inverters, which use a single switching transistor and generate infinite levels of voltage, as compared to inverters that use multiple transistors and provide only one voltage level.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global power inverter market report, along with forecasts at the global and regional level from 2024-2032. The report has categorized the market based on type, application and end-use sector.

Breakup by Type:

  • < 5KW
  • 5KW to 95KW
  • 100KW to 495KW
  • Above 500KW
On the basis of the type, power inverters with a rating between 100KW to 495KW represent the most preferred segment.

Breakup by Application:

  • Motor Drives
  • Uninterruptible Power Supply (UPS)
  • Rail Traction
  • Wind Turbines
  • Electric Vehicles/Hybrid Electric Vehicles (EVs/HEVs)
  • Solar PVs
  • Others
Amongst these, motor drives are the largest application segment.

Breakup by End-Use Sector:

  • Utility
  • Residential
  • Commercial and Industrial
Based on the end-use sector, the report finds that the utility sector dominates the market. There are many ongoing development projects undertaken by various nations, which require a continuous flow of electricity. Owing to this, there is a rising demand for power inverters in this sector.

Regional Insights:

  • Asia Pacific
  • North America
  • Europe
  • Middle East and Africa
  • Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.

Competitive Landscape:

The market is fragmented in nature with the presence of various large and small manufacturers present in the industry. Some of the leading players are:

  • SMA Solar Technology AG
  • 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

Key Questions Answered in This Report

1. What is the size of the global power inverter market?
2. What is the expected growth rate of the global power inverter market?
3. What are the key factors driving the global power inverter market?
4. What has been the impact of COVID-19 on the global power inverter market?
5. What is the breakup of the global power inverter market based on the type?
6. What is the breakup of the global power inverter market based on the application?
7. What is the breakup of the global power inverter market based on the end-use sector?
8. What are the key regions in the global power inverter market?
9. Who are the key players/companies in the global power inverter market?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Power Inverter Market
5.1 Market Overview
5.2 Market Performance
5.2.1 Volume Trends
5.2.2 Value Trends
5.3 Impact of COVID-19
5.4 Price Analysis
5.4.1 Key Price Indicators
5.4.2 Price Structure
5.4.3 Margin Analysis
5.5 Market Breakup by Region
5.6 Market Breakup by Type
5.7 Market Breakup by Application
5.8 Market Breakup by End-Use Sector
5.9 Market Forecast
5.10 SWOT Analysis
5.10.1 Overview
5.10.2 Strengths
5.10.3 Weaknesses
5.10.4 Opportunities
5.10.5 Threats
5.11 Value Chain Analysis
5.11.1 Overview
5.11.2 Research and Development
5.11.3 Raw Material Procurement
5.11.4 Manufacturing
5.11.5 Marketing
5.11.6 Distribution
5.11.7 End-Use
5.12 Porters Five Forces Analysis
5.12.1 Overview
5.12.2 Bargaining Power of Buyers
5.12.3 Bargaining Power of Suppliers
5.12.4 Degree of Rivalry
5.12.5 Threat of New Entrants
5.12.6 Threat of Substitutes
5.13 Key Market Drivers and Challenges
6 Market by Key Region
6.1 Asia Pacific
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Europe
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 North America
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Latin America
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Middle East and Africa
6.5.1 Market Trends
6.5.2 Market Forecast
7 Market Breakup by Type
7.1 < 5KW
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 5KW to 95KW
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 100KW to 495KW
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Above 500KW
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Application
8.1 Motor Drives
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 UPS
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Rail Traction
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Wind Turbines
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 EVs/HEVs
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Solar PVs
8.6.1 Market Trends
8.6.2 Market Forecast
8.7 Others
8.7.1 Market Trends
8.7.2 Market Forecast
9 Market Breakup by End-Use Sector
9.1 Utility
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Residential
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Commercial and Industrial
9.3.1 Market Trends
9.3.2 Market Forecast
10 Competitive Landscape
10.1 Market Structure
10.2 Key Players
11 Power Inverter Manufacturing Process
11.1 Product Overview
11.2 Detailed Process Flow
11.3 Various Types of Units Operations Involved
11.4 Mass Balance and Raw Material Requirements
12 Project Details, Requirements and Costs Involved
12.1 Land Requirements and Expenditures
12.2 Construction Requirements and Expenditures
12.3 Plant Machinery
12.4 Machinery Pictures
12.5 Raw Material Requirements and Expenditures
12.6 Raw Material Pictures
12.7 Packaging Requirements and Expenditures
12.8 Transportation Requirements and Expenditures
12.9 Utility Requirements and Expenditures
12.10 Manpower Requirements and Expenditures
12.11 Other Capital Investments
13 Loans and Financial Assistance
14 Project Economics
14.1 Capital Cost of the Project
14.2 Techno-Economic Parameters
14.3 Product Pricing and Margins Across Various Levels of the Supply Chain
14.4 Income Projections
14.5 Expenditure Projections
14.6 Taxation and Depreciation
14.7 Financial Analysis
14.8 Profit Analysis
15 Key Player Profiles
List of Figures
Figure 1: Global: Power Inverter Market: Major Drivers and Challenges
Figure 2: Global: Power Inverter Market: Sales Volume (in MW), 2018-2023
Figure 3: Global: Power Inverter Market: Sales Value (in Billion US$), 2018-2023
Figure 4: Power Inverter Market: Price Structure
Figure 5: Global: Power Inverter Market: Production Breakup by Region (in %), 2023
Figure 6: Global: Power Inverter Market: Breakup by Type (in %), 2023
Figure 7: Global: Power Inverter Market: Breakup by Application (in %), 2023
Figure 8: Global: Power Inverter Market: Breakup by End-Use Sector (in %), 2023
Figure 9: Global: Power Inverter Market Forecast: Sales Volume (in MW), 2024-2032
Figure 10: Global: Power Inverter Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 11: Global: Power Inverter Industry: SWOT Analysis
Figure 12: Global: Power Inverter Industry: Value Chain Analysis
Figure 13: Global: Power Inverter Industry: Porter’s Five Forces Analysis
Figure 14: Asia Pacific: Power Inverter Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Asia Pacific: Power Inverter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Europe: Power Inverter Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Europe: Power Inverter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: North America: Power Inverter Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: North America: Power Inverter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Latin America: Power Inverter Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Latin America: Power Inverter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Middle East and Africa: Power Inverter Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Middle East and Africa: Power Inverter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: Power Inverter Market (< 5KW): Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: Power Inverter Market Forecast (< 5KW): Sales Value (in Million US$), 2024-2032
Figure 26: Global: Power Inverter Market (5KW to 95KW): Sales Value (in Million US$), 2018 & 2023
Figure 27: Global: Power Inverter Market Forecast (5KW to 95KW): Sales Value (in Million US$), 2024-2032
Figure 28: Global: Power Inverter Market (100KW to 495KW): Sales Value (in Million US$), 2018 & 2023
Figure 29: Global: Power Inverter Market Forecast (100KW to 495KW): Sales Value (in Million US$), 2024-2032
Figure 30: Global: Power Inverter Market (Above 500KW): Sales Value (in Million US$), 2018 & 2023
Figure 31: Global: Power Inverter Market Forecast (Above 500KW): Sales Value (in Million US$), 2024-2032
Figure 32: Global: Power Inverter Market (in Motor Drives): Sales Value (in Million US$), 2018 & 2023
Figure 33: Global: Power Inverter Market Forecast (in Motor Drives): Sales Value (in Million US$), 2024-2032
Figure 34: Global: Power Inverter Market (in UPS): Sales Value (in Million US$), 2018 & 2023
Figure 35: Global: Power Inverter Market Forecast (in UPS): Sales Value (in Million US$), 2024-2032
Figure 36: Global: Power Inverter Market (in Rail Traction): Sales Value (in Million US$), 2018 & 2023
Figure 37: Global: Power Inverter Market Forecast (in Rail Traction): Sales Value (in Million US$), 2024-2032
Figure 38: Global: Power Inverter Market (in Wind Turbines): Sales Value (in Million US$), 2018 & 2023
Figure 39: Global: Power Inverter Market Forecast (in Wind Turbines): Sales Value (in Million US$), 2024-2032
Figure 40: Global: Power Inverter Market (in EVs/HEVs): Sales Value (in Million US$), 2018 & 2023
Figure 41: Global: Power Inverter Market Forecast (in EVs/HEVs): Sales Value (in Million US$), 2024-2032
Figure 42: Global: Power Inverter Market (in Solar PVs): Sales Value (in Million US$), 2018 & 2023
Figure 43: Global: Power Inverter Market Forecast (in Solar PVs): Sales Value (in Million US$), 2024-2032
Figure 44: Global: Power Inverter Market (Other Applications): Sales Value (in Million US$), 2018 & 2023
Figure 45: Global: Power Inverter Market Forecast (Other Applications): Sales Value (in Million US$), 2024-2032
Figure 46: Global: Power Inverter Market (End-Use in Utility Sector): Sales Value (in Million US$), 2018 & 2023
Figure 47: Global: Power Inverter Market Forecast (End-Use in Utility Sector): Sales Value (in Million US$), 2024-2032
Figure 48: Global: Power Inverter Market (End-Use in Residential Sector): Sales Value (in Million US$), 2018 & 2023
Figure 49: Global: Power Inverter Market Forecast (End-Use in Residential Sector): Sales Value (in Million US$), 2024-2032
Figure 50: Global: Power Inverter Market (End-Use in Commercial and Industrial Sector): Sales Value (in Million US$), 2018 & 2023
Figure 51: Global: Power Inverter Market Forecast (End-Use in Commercial and Industrial Sector): Sales Value (in Million US$), 2024-2032
Figure 52: Global: Power Inverter Market: Breakup by Key Players (in %)
Figure 53: Power Inverter Manufacturing Plant: Detailed Process Flow
Figure 54: Power Inverter Manufacturing Process: Conversion Rate of Feedstocks
Figure 55: Power Inverter Manufacturing Plant: Breakup of Capital Costs (in %)
Figure 56: Power Inverter Industry: Margins Across Various Stages of the Supply Chain
Figure 57: Power Inverter Production: Manufacturing Cost Breakup (in %)
List of Tables
Table 1: Global: Power Inverter Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Power Inverter Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 3: Global: Power Inverter Market Forecast: Breakup by Type (in Million US$), 2024-2032
Table 4: Global: Power Inverter Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 5: Global: Power Inverter Market Forecast: Breakup by End-Use Sector (in Million US$), 2024-2032
Table 6: Global: Power Inverter Market: Competitive Structure
Table 7: Global: Power Inverter Market: Key Manufacturers
Table 8: Power Inverter Manufacturing Plant: Raw Material Requirements (in Units/Day)
Table 9: Power Inverter Manufacturing Plant: Costs Related to Land and Site Development (in US$)
Table 10: Power Inverter Manufacturing Plant: Costs Related to Civil Works (in US$)
Table 11: Power Inverter Manufacturing Plant: Machinery Costs (in US$)
Table 12: Power Inverter Manufacturing Plant: Raw Material Requirements (in Units/Day) and Expenditures (US$/Unit)
Table 13: Power Inverter Manufacturing Plant: Costs Related to Utilities
Table 14: Power Inverter Manufacturing Plant: Costs Related to Salaries and Wages (in US$)
Table 15: Power Inverter Manufacturing Plant: Costs Related to Other Capital Investments (in US$)
Table 16: Details of Financial Assistance Offered by Financial Institutions
Table 17: Power Inverter Manufacturing Plant: Capital Costs (in US$)
Table 18: Power Inverter Manufacturing Plant: Techno-Economic Parameters
Table 19: Power Inverter Manufacturing Plant: Income Projections (in US$)
Table 20: Power Inverter Manufacturing Plant: Expenditure Projections (in US$)
Table 21: Power Inverter Manufacturing Plant: Taxation (in US$)
Table 22: Power Inverter Manufacturing Plant: Depreciation (in US$)
Table 23: Power Inverter Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability (in US$)
Table 24: Power Inverter Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability (in US$)
Table 25: Power Inverter Manufacturing Plant: Profit and Loss Account (in US$)

Companies Mentioned

  • SMA Solar Technology AG
  • 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.

Methodology

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Table Information

Report AttributeDetails
No. of Pages146
PublishedMarch 2024
Forecast Period2023 - 2032
Estimated Market Value ( USD ) in 2023 $ 80 Billion
Forecasted Market Value ( USD ) by 2032 $ 121.7 Billion
Compound Annual Growth Rate4.8%
Regions CoveredGlobal
No. of Companies Mentioned10

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About the Power Inverter Market

A power inverter is a device that converts direct current (DC) electricity into alternating current (AC) electricity. It is commonly used to provide AC power to devices that require it, such as computers, televisions, and other electronic equipment. Power inverters are also used to convert DC power from sources such as batteries, solar panels, and fuel cells into AC power for use in homes and businesses. Power inverters are an important part of the electricity market, as they allow for the efficient conversion of DC power into AC power. This allows for the use of renewable energy sources, such as solar and wind, to be used in homes and businesses. Additionally, power inverters can be used to provide backup power in the event of a power outage. Some companies in the power inverter market include Schneider Electric, ABB, Eaton, and Siemens. Show Less Read more

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