The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.
The global power inverter market was valued at US$ 68.7 Billion in 2020.
We expect the global power inverter market to exhibit a CAGR of 5.8% during 2021-2026.
The expanding global population, along with the significant need for an uninterrupted power supply, represent some of the factors driving the global power inverter market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting temporary closure of numerous manufacturing units and disrupted supply chains for power inverters.
Based on the type, the global power inverter market can be segmented into <5KW, 5KW to 95KW, 100KW to 495KW, and above 500KW. Among these, 100KW to 495KW holds the majority of the total market share.
Based on the application, the global power inverter market has been divided into motor drives, uninterruptible power supply (UPS), rail traction, wind turbines, electric vehicles/hybrid electric vehicles (EVs/HEVs), solar PVs, and others, where motor drives currently represent the largest segment.
Based on the end-use sector, the global power inverter market can be categorized into utility, residential, and commercial and industrial. Among these, the utility sector exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
Some of the major players in the global power inverter market include 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. etc.
REACH OUT TO US
Call us on
( US: +1-631-791-1145 )
( UK: +44-753-713-2163 )
( India: +91 120 433 0800 )
Drop us an email at