Global Power Inverter Market is expected to foresee significant growth. Asia-Pacific is expected to lead the growth!

The Global Power Inverter Market is expected to grow at a CAGR of around 5% during the forecasted period of 2021-2027. Some of the factors that drive the demand for power inverters are the low value of operation and the removal of the inconveniences related to the change-over switches, unlike the energy generators. Power inverters are applied for operating diverse household appliances and electric products. Moreover, with the consistent growth in electrification rate and urbanization, people rely more on electronic gadgets which enhance their lifestyle and provide them comfort, Also the recognition concerning the numerous types of power inverters present in various power ranges has boosted the demand and sale for power inverters.

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Based on End-use, the market is classified into residential and commercial. In 2020, the market was dominated by the residential sector. The rising demand for power inverters in residential users has been fueled by easy installation, rising rates of electrification, and increasing standards of living. Furthermore, the growing number of residential structures and urbanization are also significant factors driving the use of power inverters in residential units around the world. During the forecast period, the commercial sector is also expected to witness considerable growth due to rising demand for UPS in commercial spaces such as gyms, hotels, and malls which require a continuous flow of electricity. The supply of electricity is expected to be regular for the smooth functioning of the operations.

Based on application, the market is categorized into motor drivers, ups, rail traction, wind turbines, electric vehicles/ hybrid electric vehicles, solar PVs, and others. Motor Drivers held a prominent share in the market in 2020. This can be linked to the growing popularity and adoption of motor drivers over the world. Motor drivers are responsible for 45 percent of total electric energy use across all appliances. The rise of this market is aided by the greater efficiency of motor drivers.

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For a better understanding of the market adoption of the power inverter market, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, and the rest of North America); Europe (Germany, UK, France Italy, Spain, and Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World. The Asia Pacific dominates the market due to increasing investments in the photovoltaic (PV) plants, a rise of installations in the residential sector along with the shift in transportation towards electrical vehicles in countries such as China, India, Australia, and Japan are escalating the adoption of the power inverter. Also, the rapid economic growth and rising disposable incomes of individuals across the globe have enabled them to spend more on products like power inverters and these are some of the major factors that drive the growth of the power inverter market.

Some of the major players operating in the market include Samlex America Inc., Solar Edge Technology Inc., Power Bright, SMA Solar Technology, Magnum Dimensions, Calsonic Kansei, Tabuchi Electric Co., ABB Ltd, Omron Automation Pvt. Ltd, Enphase Energy, Inc
Global Power Inverter Market Segmentation

Market Insight, By Type

• <5KW
• 5KW to 95KW
• 100kw TO 495KW
• Above 500KW

Market Insight, by Application

• Motor Drivers
  • UPS
  • Rail Traction
  • Wind Turbines
  • Electric vehicles/ Hybrid Electric vehicles
  • Solar PV
  • Others

Market Insight, by End-Use Industry

• Residential
• Commercial

Market Insight, by Region

• North America
  • The U.S.
  • Canada
  • Rest of North America
• Europe
  • Germany
  • The U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Rest of the World

Top Company Profiles

• Samlex America Inc.
  • Solar Edge Technology Inc.
  • Power Bright
  • SMA Solar Technology
  • Magnum Dimensions
  • Calsonic Kansei
  • Tabuchi Electric Co.
  • ABB Ltd
  • Omron Automation Pvt. Ltd
  • Enphase Energy, Inc