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

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Power Inverter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview 2022-2027:

The global power inverter market reached a value of US$ 71.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 99.3 Billion by 2027, exhibiting a CAGR of 5.54% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor. 

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.

Global Power Inverter Market Trends and Drivers: 

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:

IMARC Group provides an analysis of the key trends in each sub-segment of the global power inverter market, along with forecasts at the global and regional level from 2022-2027. Our 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.
     

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion, MW
Segment Coverage Type, Application, End-Use Sector, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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), 2016-2021
Figure 3: Global: Power Inverter Market: Sales Value (in Billion US$), 2016-2021
Figure 4: Power Inverter Market: Price Structure (US$/MW)
Figure 5: Global: Power Inverter Market: Production Breakup by Region (in %), 2021
Figure 6: Global: Power Inverter Market: Breakup by Type (in %), 2021
Figure 7: Global: Power Inverter Market: Breakup by Application (in %), 2021
Figure 8: Global: Power Inverter Market: Breakup by End-Use Sector (in %), 2021
Figure 9: Global: Power Inverter Market Forecast: Sales Volume (in MW), 2022-2027
Figure 10: Global: Power Inverter Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 11: Global: Power Inverter Industry: SWOT Analysis
Figure 12: Global: Power Inverter Industry: Value Chain Analysis 
Figure 13: Global: Power Inverter Industry: Porter’s Five Forces Analysis
Figure 14: Asia Pacific: Power Inverter Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Asia Pacific: Power Inverter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Europe: Power Inverter Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Europe: Power Inverter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: North America: Power Inverter Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: North America: Power Inverter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Latin America: Power Inverter Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Latin America: Power Inverter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Middle East and Africa: Power Inverter Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Middle East and Africa: Power Inverter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Power Inverter Market (<5KW): Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Power Inverter Market Forecast (<5KW): Sales Value (in Million US$), 2022-2027
Figure 26: Global: Power Inverter Market (5KW to 95KW): Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Power Inverter Market Forecast (5KW to 95KW): Sales Value (in Million US$), 2022-2027
Figure 28: Global: Power Inverter Market (100KW to 495KW): Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Power Inverter Market Forecast (100KW to 495KW): Sales Value (in Million US$), 2022-2027
Figure 30: Global: Power Inverter Market (Above 500KW): Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Power Inverter Market Forecast (Above 500KW): Sales Value (in Million US$), 2022-2027
Figure 32: Global: Power Inverter Market (in Motor Drives): Sales Value (in Million US$), 2016 & 2021
Figure 33: Global: Power Inverter Market Forecast (in Motor Drives): Sales Value (in Million US$), 2022-2027
Figure 34: Global: Power Inverter Market (in UPS): Sales Value (in Million US$), 2016 & 2021
Figure 35: Global: Power Inverter Market Forecast (in UPS): Sales Value (in Million US$), 2022-2027
Figure 36: Global: Power Inverter Market (in Rail Traction): Sales Value (in Million US$), 2016 & 2021
Figure 37: Global: Power Inverter Market Forecast (in Rail Traction): Sales Value (in Million US$), 2022-2027
Figure 38: Global: Power Inverter Market (in Wind Turbines): Sales Value (in Million US$), 2016 & 2021
Figure 39 Global: Power Inverter Market Forecast (in Wind Turbines): Sales Value (in Million US$), 2022-2027
Figure 40: Global: Power Inverter Market (in EVs/HEVs): Sales Value (in Million US$), 2016 & 2021
Figure 41: Global: Power Inverter Market Forecast (in EVs/HEVs): Sales Value (in Million US$), 2022-2027
Figure 42: Global: Power Inverter Market (in Solar PVs): Sales Value (in Million US$), 2016 & 2021
Figure 43: Global: Power Inverter Market Forecast (in Solar PVs): Sales Value (in Million US$), 2022-2027
Figure 44: Global: Power Inverter Market (Other Applications): Sales Value (in Million US$), 2016 & 2021
Figure 45: Global: Power Inverter Market Forecast (Other Applications): Sales Value (in Million US$), 2022-2027
Figure 46: Global: Power Inverter Market (End-Use in Utility Sector): Sales Value (in Million US$), 2016 & 2021
Figure 47: Global: Power Inverter Market Forecast (End-Use in Utility Sector): Sales Value (in Million US$), 2022-2027
Figure 48: Global: Power Inverter Market (End-Use in Residential Sector): Sales Value (in Million US$), 2016 & 2021
Figure 49: Global: Power Inverter Market Forecast (End-Use in Residential Sector): Sales Value (in Million US$), 2022-2027
Figure 50: Global: Power Inverter Market (End-Use in Commercial and Industrial Sector): Sales Value (in Million US$), 2016 & 2021
Figure 51: Global: Power Inverter Market Forecast (End-Use in Commercial and Industrial Sector): Sales Value (in Million US$), 2022-2027
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, 2021 and 2027
Table 2: Global: Power Inverter Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 3: Global: Power Inverter Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 4: Global: Power Inverter Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 5: Global: Power Inverter Market Forecast: Breakup by End-Use Sector (in Million US$), 2022-2027
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$)
Table 25: Power Inverter Manufacturing Plant: Profit and Loss Account (in US$)

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Key Questions Answered in This Report

The global power inverter market was valued at US$ 71.3 Billion in 2021. 

We expect the global power inverter market to exhibit a CAGR of 5.54% during 2022-2027. 

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., and SolarEdge Technologies Inc. etc.

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