Global Power Inverter Market Analysis by Type, Connection Type, Power Rating, Output Voltage, Sales Channel, End User, Application and Region and segments forecast till 2033
The global Power Inverter Market was worth USD 75,250 million in 2022 and is anticipated to amplify at a CAGR of 5.54% over 2023-2033, thereby accumulating USD 115,840 million by end of the analysis timeline.
Market Size in 2022
USD 75,250 Million
Market Forecast in 2033
USD 115,840 Million
CAGR % 2023-2033
Production, Consumption, company share, company heatmap, company production capacity, growth factors and more
Technology, Sensor Technology, Type, Materials, Products, End use
North America, Europe, APAC, South America and Middle East and Africa
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria
Fingerprint Cards AB, Synaptic, Apple Inc., Egis Technology, Crucialtec, Next Biometrics, Novatek Microelectronics, Qualcomm, Q Technology, CMOS Sensor Inc., ELAN Microelectonics, Focaltech, ID3 Technologies, IDEX Biometrics, Japan Display Inc., OXI Technology, Sonavation Inc., Touch Biometrix, Vkansee, and Goodix.
Power inverters are electric devices that transmit Direct Current (DC) into Alternating Current (AC). Unlike generators, power inverters provide low operating cost and quash the inconvenience of using change-over switches. Due to existence of these characteristics, they are utilized to operate several tools, household appliances and other electrical products. Power inverters are conveniently available in a variety of sizes, types and power ranges as per the varied consumer needs and preferences.
Some of these variants consist of modified sine wave power inverters, plug-in grid tie power inverters, and solar power inverters. The layout or circuitry of a power inverter affects the input voltage, frequency, output voltage and overall power handling. Power inverters come in different sizes such as 1000 watts, 3000 watts, and 5000 watts, among which, 3000 watts inverter is the most desirable. Modern power inverters come with USB outlets, mobile phone chargers and digital screens. The major applications of power inverters include commercial, residential and industrial. Additionally, factors like no requirement of fuel, moving parts or lubricants are the major advantages of this product.
The heightening demand for power inverters from the residential sector, owing to the effortless installation, increasing standards of living, rising rates of electrification, and growing investments in the preparedness in case of power cuts, is thriving the market growth. The functional cost of inverter is low, require concentrated maintenance, and are environment friendly, which are likely to be the stimulating factors of the market. The rising commonness of high-end electrical equipment and appliances in the household will robust the demand for the product in the forecast period. Meanwhile, the increasing employment of solar power systems in the commercial and industrial sector is projected to propel the demand for power inverters in the coming years.
The widening economic growth and rising disposable incomes of individuals across the globe have permitted them to spend more on products like power inverters, which magnify their lifestyles and offer comfort. Coupled with rapid urbanization and hiking electrification rates, most people at present are dependent on electronic appliances and gadgets. This has resulted in a notable need for an uninterrupted power supply. In return increasing the sales of power inverters as a substitute backup solution in case of outages. Besides this, they are noise-free and environment-friendly in nature as they do not exhibit carbon emissions and extinguish the need for gasoline, which is required for running generators.
Meanwhile, the increasing adoption of solar power systems in the commercial and industrial sector is propelling the demand for power inverters in the up-coming years. The growth of the market is also thrived by huge inflow of investments in the renewable energy sector and rise in the number of residential solar rooftop installations.
Connection Type Insights
The ultrasonic segment is poised to register notable gains over 2023-2033 due to the ability to authenticate fingerprints by reading the epidermal skin layeSolar inverters are prime elements of solar electric power systems. The DC power, which is generated by solar power plants, is not suitable for common household appliances. Hence, it is necessary to convert this DC power to AC power. Solar inverters transform the variable DC output of PV solar panels into usable AC.
Sensor Output Power Rating Insights
Inverters with power rating below 10 kW are suitable for use in the residential and commercial sectors. Residential solar PV systems are mostly used in rooftop installations, which offer benefits of feed-in tariffs and net metering.
Sales Channel Insights
Indirect sales channels or third parties hold a notable share of the inverter market as these channels are adopted by inverter manufacturers to provide their inverter solutions to different end users. Most key players in the market have well-established sales networks and provide their products globally.
The market for global power inverter is segmented into major region- North America, Europe, Asia-Pacific and Middle East and Africa. Increased investments for the deployment of industrial automation solutions, emphasis on regulations that demand operational and workforce safety, expansion of power generation capacities of plants, electrification of the transportation sector, and reduction in the production and operational costs of power plants owing to advancements in technologies in emerging economies of APAC are driving the growth of the solar inverter market in APAC.
The prominent companies operating the marketplace 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, SEHuawei Technologies Co., Ltd., SolarEdge Technologies Inc., Sungrow Power Supply, Power Electronics, Fronius International, Altenergy Power System, Darfon Electronics, Delphi Technology, Schneider Electric, Delta Electronics, Yaskawa Solectria Solar and Kaco New Energy.
Global Power Inverter Market- Segmental Analysis
Based on Type
· Solar Inverters
· Inverter Type
· Central Inverters
· String Inverters
· Micro Inverters
· Hybrid Inverters
· Non Solar Types
· Vehicle Inverters
· Battery Electric Vehicles
· Hybrid Electric Vehicles
· Plug-in Hybrid Vehicles
· Residential Inverters
Based on Output Power Rating
· Below 10 kw
· 10-50 kw
· 50-100 kw
· Above 100 kw
Based on Output Voltage
· 100-300 V
· 300-500 V
· Above 500 V
Based on Sales Channel
Based on End-User
· PV Plants
Based on Application
· Motor Drives
· Uninterruptible Power Supply (UPS)
· Rail Traction
· Wind Turbines
· Electric Vehicles/Hybrid Electric Vehicles (EVs/HEVs)
· Solar PVs
Why to buy this Report?
The report provides quantitative and qualitative aspect for Power Inverter Market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in Power Inverter Market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
• Business Model
• Production Capacity, Revenue, Sales, Gross Margin
• Key Business Strategy
• SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:
• Company Share Analysis from 2020-2022
• Company Analysis by Revenue and Sales
• Company Production Capacity, Gross Margin
• Company Share Analysis by Application/End Use
• Company Share Analysis by Product/Specification
Frequently Asked Questions
• What is the market size and growth projections?
• What is the market size and growth projection for each of the market segments and sub-segments across Countries & Regions?
• What are the top performing segments, and countries / regions of each of the markets?
• What is the market size and growth rate across key countries / regions?
• How big is the global & regional market in terms of revenue and volume?
• How far market will grow in forecast period in terms of revenue and volume?
• What factors will influence demand and supply trends across each markets during the forecast period?
• What are the technology trends shaping various markets?
• Which country / region has more opportunities?
• What is the COVID-19 impact on the market and how long will it take to recover?
• Who are the key competitors of market Players?
• What are the market share (%) of Key Players?
• What are the Merger & Acquisition, New Product Launch, Recent Development within each of the Markets?
• What are PEST analysis, Ecosystem Analysis, Porter's Five Forecast Analysis, Ansoff Matrix, and SWOT Analysis among other analyses for diverse markets?
1. Global Power Inverter Market Introduction and Market Overview
1.1. Objective of the Market Research Study
1.2. Power Inverter Market Definition & Description
1.3. Research Data Parameters & Reporting Timelines
1.3.1. Historical Data Reporting Years – 2020 to 2021
1.3.2. Projected Data Reporting Years – 2022 to 2033
1.3.3. Reporting Data Parameters – Value (US$ Million)
1.4. Global Power Inverter Market Scope and Market Estimation
1.4.1. Global Power Inverter Overall Market Size (US$ Million), Market CAGR (%), Market Estimates & Forecast (2020 to 2033)
1.4.2. Global Power Inverter Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2020 to 2033
1.5. Power Inverter Market Segmentation
1.5.1. Type of Global Power Inverter Market
1.5.2. Output Power of Global Power Inverter Market
1.5.3. Output Voltage of Global Power Inverter Market
1.5.4. Sales Channel of Power Inverter Market
1.5.5. Application of Power Inverter Market
1.5.6. End User of Global Power Inverter Market
1.5.7. Key Regions of Power Inverter Market
2. Global Power Inverter Market - Executive Summary
2.1. Global Power Inverter Market – Summary & Snapshot
2.2. Global Power Inverter Market, By Type (US$ Million)
2.3. Global Power Inverter Market, By Output Power (US$ Million)
2.4. Global Power Inverter Market, By Output Voltage (US$ Million)
2.5. Global Power Inverter Market, By Sales Channel (US$ Million)
2.6. Global Power Inverter Market, By Application (US$ Million)
2.7. Global Power Inverter Market, By End User (US$ Million)
2.8. Global Power Inverter Market, By Geography (US$ Million)
2.9. Global Power Inverter Market Outlook & Future Opportunities
3. Power Inverter Market Trends, Outlook, and Factors Analysis
3.1. Global Power Inverter Market Industry Development Trends under COVID-19 Outbreak
3.1.1. Global COVID-19 Status Overview
3.1.2. Influence of COVID-19 Outbreak on Global Power Inverter Market Industry Development
3.1.3. Pre & Post COVID-19 Trends and Scenarios
3.2. Power Inverter Market Dynamics (Growth Impacting Factors & Rationales)
22.214.171.124. Surging Demand for Various Household Devices in Vehicles
126.96.36.199. enhancement in lifestyles and comfort priority
188.8.131.52. Strain Caused by Inverters on Batteries
184.108.40.206. Restraints 2
220.127.116.11. Restraints 3
18.104.22.168. Development of High-Power Density Inverters Equipped with New Features
22.214.171.124. Opportunities 2
126.96.36.199. Opportunities 3
188.8.131.52. Opportunities 4
3.2.4. Impact Analysis of Drivers and Restraints
3.3. Ecosystem/ Value Chain Analysis
3.4. Porter’s Five Forces Analysis
3.5. SWOT Analysis
3.6. PEST Analysis
3.7. Average Selling Prices and Pricing Trends Analysis of Power Inverter Market
3.8. Technological Roadmap
3.9. Key Investment Pockets of Power Inverter Market
3.9.1. By Type
3.9.2. By Output Power
3.9.3. By Output Voltage
3.9.4. By Sales Channel
3.9.5. By Application
3.9.6. By End User
3.9.7. By Regions
4. Global Power Inverter Market: Estimates & Historic Trend Analysis (2020 to 2021)
4.1. Global Power Inverter Market, 2020 – 2021 (US$ Million)
4.2. Global Power Inverter Market, By Type, 2020 To 2021 (US$ Million)
4.3. Global Power Inverter Market, By Output Power, 2020 To 2021 (US$ Million)
4.4. Global Power Inverter Market, By Output Voltage, 2020 To 2021 (US$ Million)
4.5. Global Power Inverter Market, By Sales Channel 2020 To 2021 (US$ Million)
4.6. Global Power Inverter Market, By Application 2020 To 2021 (US$ Million)
4.7. Global Power Inverter Market, By End User 2020 To 2021 (US$ Million)
4.8. Global Power Inverter Market, By Region, 2020 To 2021 (US$ Million)
5. Global Power Inverter Market Estimates & Forecast Trend Analysis, by Type
5.1. Global Power Inverter Market Share (%) Estimates and Forecasts, by Type, 2022 & 2033
5.2. Global Power Inverter Market Revenue (US$ Million) Estimates and Forecasts, by Type, 2022 to 2033
5.2.1. Solar Inverters
184.108.40.206. By Inverter Type
220.127.116.11.1. Central Inverters
18.104.22.168.2. String Inverters
22.214.171.124.3. Hybrid Inverters
126.96.36.199.4. Micro Inverters
188.8.131.52. By Connection Type
5.2.2. Non-solar Inverters
184.108.40.206. Vehicle Inverters
220.127.116.11.1. By Vehicle Type
18.104.22.168.1.1. Battery Electric Vehicles (BEVs)
22.214.171.124.1.2. Hybrid Electric Vehicles (HEVs)
126.96.36.199.1.3. Plug-in Hybrid Electric Vehicles (PHEVs)
188.8.131.52. Residential Inverters
6. Global Power Inverter Market Estimates & Forecast Trend Analysis, by Output Power
6.1. Global Power Inverter Market Share (%) Estimates and Forecasts, By Output Power, 2022 & 2033
6.2. Global Power Inverter Market Revenue (US$ Million) Estimates and Forecasts, by Output Power, 2022 to 2033
6.2.1. Below 10 kW
6.2.2. 10–50 kW
6.2.3. 50–100 kW
6.2.4. Above 100 kW
7. Global Power Inverter Market Estimates & Forecast Trend Analysis, by Output Voltage
7.1. Global Power Inverter Market Share (%) Estimates and Forecasts, By Output Voltage, 2022 & 2033
7.2. Global Power Inverter Market Revenue (US$ Million) Estimates and Forecasts, by Output Voltage, 2022 to 2033
7.2.1. 100–300 V
7.2.2. 300–500 V
7.2.3. Above 500 V
8. Global Power Inverter Market Estimates & Forecast Trend Analysis, by Sales Channel
8.1. Global Power Inverter Market Share (%) Estimates and Forecasts, By Sales Channel, 2022 & 2033
8.2. Global Power Inverter Market Revenue (US$ Million) Estimates and Forecasts, by Sales Channel, 2022 to 2033
9. Global Power Inverter Market Estimates & Forecast Trend Analysis, by Application
9.1. Global Power Inverter Market Share (%) Estimates and Forecasts, By Application, 2022 & 2033
9.2. Global Power Inverter Market Revenue (US$ Million) Estimates and Forecasts, by Application, 2022 to 2033
9.2.1. Motor Drives
9.2.2. Uninterruptible Power Supply (UPS)
9.2.3. Rail Traction
9.2.4. Wind Turbines
9.2.5. Electric Vehicles/Hybrid Electric Vehicles (EVs/HEVs)
9.2.6. Solar PVs
10. Global Power Inverter Market Estimates & Forecast Trend Analysis, by End User
10.1. Global Power Inverter Market Share (%) Estimates and Forecasts, By End User, 2022 & 2033
10.2. Global Power Inverter Market Revenue (US$ Million) Estimates and Forecasts, by End User, 2022 to 2033
10.2.1. PV Plants
10.2.3. Commercial & Industrial
11. Global Power Inverter Market Analysis and Forecast, by Region
11.1. Global Power Inverter Market Share (%) Estimates and Forecasts, By Region, 2022 & 2033
11.2. Global Power Inverter Market Revenue (US$ Million) Estimates and Forecasts, By Region, 2022 To 2033
11.2.1. North America
11.2.3. Asia Pacific
11.2.4. Middle East and Africa
11.2.5. Latin America
12. North America Power Inverter Market: Estimates & Forecast Trend Analysis
12.1. North America Power Inverter Market Assessments & Key Findings
12.2. North America Power Inverter Market Share (%) Estimates and Forecasts, 2022 & 2033
12.3. North America Power Inverter Market Size Estimates and Forecast (US$ Million) (2022 To 2033)
12.3.1. By Type
12.3.2. By Output Power
12.3.3. By Output Voltage
12.3.4. By Sales Channel
12.3.5. By Application
12.3.6. By End User
12.3.7. By Major Country
184.108.40.206. The U.S.
13. Europe Power Inverter Market: Estimates & Forecast Trend Analysis
13.1. Europe Power Inverter Market Assessments & Key Findings
13.2. Europe Power Inverter Market Share (%) Estimates and Forecasts, 2022 & 2033
13.3. Europe Power Inverter Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
13.3.1. By Type
13.3.2. By Output Power
13.3.3. By Output Voltage
13.3.4. By Sales Channel
13.3.5. By Application
13.3.6. By End User
13.3.7. By Major Country
220.127.116.11. The U.K.
18.104.22.168. Rest of Europe (includes all other European countries)
14. Asia Pacific Power Inverter Market: Estimates & Forecast Trend Analysis
14.1. Asia Pacific Power Inverter Market Assessments & Key Findings
14.2. Asia Pacific Power Inverter Market Share (%) Estimates and Forecasts, 2022 & 2033
14.3. Asia Pacific Power Inverter Market Size Estimates and Forecast (US$ Million) (2022 To 2033)
14.3.1. By Type
14.3.2. By Output Power
14.3.3. By Output Voltage
14.3.4. By Sales Channel
14.3.5. By Application
14.3.6. By End User
14.3.7. By Major Country
22.214.171.124. South Korea
126.96.36.199. Rest of Asia Pacific (includes all other Asia Pacific countries)
15. Middle East & Africa Power Inverter Market: Estimates & Forecast Trend Analysis
15.1. Middle East & Africa Power Inverter Market Assessments & Key Findings
15.2. Middle East & Africa Power Inverter Market Share (%) Estimates and Forecasts, 2022 & 2033
15.3. Middle East & Africa Power Inverter Market Size Estimates and Forecast (US$ Million) (2022 To 2033)
15.3.1. By Type
15.3.2. By Output Power
15.3.3. By Output Voltage
15.3.4. By Sales Channel
15.3.5. By Application
15.3.6. By End User
15.3.7. By Major Country
188.8.131.52. South Africa
184.108.40.206. Rest of Middle East & Africa (includes all other Middle East & Africa countries)
16. Latin America Power Inverter Market: Estimates & Forecast Trend Analysis
16.1. Latin America Market Assessments & Key Findings
16.2. Latin America Power Inverter Market Share (%) Estimates and Forecasts, 2022 & 2033
16.3. Latin America Power Inverter Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
16.3.1. By Type
16.3.2. By Output Power
16.3.3. By Output Voltage
16.3.4. By Sales Channel
16.3.5. By Application
16.3.6. By End User
16.3.7. By Major Country
220.127.116.11. Rest of Latin America (includes all other Latin America countries)
17. Competitive Landscape
17.1. Power Inverter Market Revenue Share Analysis (%), By Major Players (2021)
17.2. Power Inverter Market Competition Matrix, By Leading Players
17.3. Power Inverter List of Emerging, Prominent & Leading Players
17.4. Major Mergers & Acquisitions, Partnership, Joint Venture, Expansions, Deals, Recent Developments, Etc.
18. Company Profiles
18.1. SMA Solar Technology AG
18.1.1. Company Overview & Insights
18.1.2. Financial Performance
18.1.3. Product / Service Portfolio
18.1.4. Geographical Footprint & Share
18.1.5. Strategic Initiatives & Key Developments
*Similar details would be provided for all the players mentioned below
18.2. Omron Corporation
18.3. ABB Ltd
18.4. Tabuchi Electric Co., Ltd
18.5. Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC)
18.6. Advanced Energy Industries, Inc
18.7. Enphase Energy, Inc
18.8. Schneider Electric SE
18.9. Huawei Technologies Co., Ltd
18.10. SolarEdge Technologies Inc
18.11. Sungrow Power Supply
18.12. Power Electronics
18.13. Fronius International
18.14. Altenergy Power System
18.15. Darfon Electronics
18.16. Delphi Technologies
18.17. Schneider Electric
18.18. Delta Electronics
18.19. Yaskawa Solectria Solar
18.20. Kaco New Energy
19. Assumptions and Research Methodology
19.1. Data Mining
19.2. Secondary Research
19.3. Primary Research
19.4. Subject Matter Expert Advice
19.5. Quality Check
19.6. Final Review
19.7. Data Triangulation
19.8. Bottom-Up Approach
19.9. Top Down Approach
19.10. Research Flow
19.11. Key Insights from Industry Experts
19.12. Data Sources
20. Conclusions and Recommendations
20.1. Key Research Findings and Conclusion
20.2. Key Insights & Recommendations from Analysts
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