Global Power Inverter Market to Reach US$ 99.3 Billion by 2027, Bolstered by Increasing Need for Uninterrupted Power Supply

September 12, 2018

As per the latest report by IMARC Group, titled “Power Inverter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global power inverter market reached a value of US$ 71.3 Billion in 2021. Power inverters are electronic devices that are used to change direct current (DC) from batteries, solar panels and high voltage DC transmission lines to alternating current (AC). Solar power inverters and modified sine wave power inverters are the most commonly used variants. Unlike conventional generators, power inverters are highly efficient and a reliable source of power supply that offers low operating costs and eliminates the inconvenience of using change-over switches. Nowadays, they are available in various sizes, types and power ranges, which are used for operating different tools, household appliances and electrical equipment.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Power Inverter Market Trends:

A significant increase in the use of electronic appliances and gadgets, such as air conditioners, televisions, laptops and refrigerators, due to rapid electrification and urbanization are propelling the market growth. Power inverters provide an uninterrupted power supply and act as an alternate backup power solution in case of emergencies. Besides this, with the growing environmental concerns, power inverters are gaining traction over traditional generators, as they produce zero-emissions while providing electricity and functioning quietly. Furthermore, the development of new technologies with enhanced features associated with the operation of these inverters, like extended-battery lifespan and low maintenance costs, is also bolstering the market growth. Looking forward, the market value is expected to reach US$ 99.3 Billion by 2027, exhibiting a CAGR of 5.54% during the forecast period (2022-2027).

Market Summary:

  • Based on the type, the market has been segmented into <5KW, 5-95 KW, 100-495 KW and above 500 KW. Among these, the 100 KW to 495 KW segment represents the most preferred type.
  • On the basis of the application, motor drives dominate the market, holding the largest market share. Other major application areas include UPS, rail traction, wind turbines, EVs/HEVs, and solar PVs.
  • The market has been segmented based on the end-use sector into utility, residential, and commercial and industrial. Amongst these, the utility sector accounts for the majority of the overall market share.
  • On the geographical front, Asia Pacific holds the leading position in the market. Other major regions are Europe, North America, Latin America, and Middle East and Africa.
  • The competitive landscape of the market has been examined, with some key players being 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., and SolarEdge Technologies Inc.


About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us

IMARC Group
USA: +1-631-791-1145
Email: sales@imarcgroup.com
Website: https://www.imarcgroup.com
Follow us on twitter : @imarcglobal

Global Power Inverter Market to Reach US$ 99.3 Billion by 2027, Bolstered by Increasing Need for Uninterrupted Power Supply
Select Licence Type



Benefits of Customization

Personalize This Research

Triangulate with your Data

Get Data as per your Format and Definition

Gain a Deeper Dive into a Specific Application, Geography, Customer or Competitor

Any level of Personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Bayer AH

It was indeed a great experience to work with IMARC on the assignment on Aqua market. The team had done a fantastic job in terms of what was expected, what was assured and what was the result… the report gave us many insights and market know how which allowed us to work on our strength and define exact strategies…

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More