Energy & Power
Global Inverter Market - Industry Trends and Forecast to 2032
REPORT OVERVIEW
Global Inverter Market, By Output Power Rating (Below 10kW, 10-50 kW, 51-100 kW, and Above 100kW), End Use (Residential, Photovoltaic (PV) Plants, Automotive, and Others), Type (Solar Inverter, Vehicle Inverter, and Others), Output Voltage (100-300 V, 301-500 V, and Above 500V), Connection (Standalone and Grid-tied), Sales Channel (Direct and Indirect), Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2032.
Market Insights
The global Inverter market size is valued to be USD xx million in 2023 and is expected to reach USD xx million by 2032, and it is expected to register a CAGR of xx% over the forecast period 2024-2032.
An inverter is an electronic device used to convert direct current (DC) electricity into alternating current (AC) electricity. This conversion process is essential because many electrical devices and appliances operate on AC power, which is the standard form of electricity delivered by the grid. The global inverter market is a critical component of the global power electronics industry, playing a pivotal role in converting direct current (DC) electricity from sources like solar panels, batteries, or wind turbines into alternating current (AC) electricity suitable for use in homes, businesses, and the grid.
The respective global report analyses market trends, consumer behaviour and industry dynamics to guide towards entry into new markets with ease. Also, it assists in tailoring market specific and related products and services to meet the needs, preferences, and expectations of target audience by delving into their psychology. The report also specializes with comprehensive and extensive competitive analysis which offers useful insights into competitor strengths, weaknesses, opportunities, and threats. The respective report offers exclusive insights into the potential impact of disruptive developments and technologies that are expected to completely transform corporate operations. The context includes tailor-made research solutions to create a stronger footprint in their particular industries thereby offering dedicated customized solutions according to the client needs which helps in addressing unique business challenges with more simplified and efficient decision-making solutions.
Market Dynamics
DRIVERS
- Rise of renewable energy integration
- Technological advancements
RESTRAINTS
- Complexity in system integration
- High initial costs
OPPORTUNITIES
- Expansion of electric vehicles and charging infrastructure
- Microgrids and off-grid applications
CHALLENGES
- Ensuring high reliability, quality and durability across global supply chains
- Skills and workforce development
SEGMENTATION
- Output Power Rating
- Below 10kW
- 10-50 kW
- 51-100 kW
- Above 100kW
- End Use
- Residential
- Photovoltaic (PV) Plants
- Automotive
- Others
- Type
- Solar Inverter
- Vehicle Inverter
- Others
- Output Voltage
- 100-300 V
- 301-500 V
- Above 500V
- Connection
- Standalone
- Grid-tied
- Sales Channel
- Direct
- Indirect
The respective global report is completely customizable specific to regions (North America, Europe, Asia-Pacific, South America, Middle East and Africa), countries, and segments as per the client requirements.
REGIONAL SEGMENTATION
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- The Netherlands
- Belgium
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Malaysia
- Australia
- Thailand
- Philippines
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Chile
- Colombia
- Rest of South America
- Middle East and Africa
- Kingdom of Saudi Arabia
- South Africa
- U.A.E.
- Egypt
- Rest of Middle East and Africa
KEY MARKET PLAYERS
- Huawei Technologies Co., Ltd.
- SUNGROW
- SMA Solar Technology AG
- Power Electronics S.L.
- Fimer Group
- Fronius International GmbH
- Altenergy Power System Inc.
- Enphase Energy
- DAFRON
- Delta Electronics, Ltd.
Table OF CONTENTS
- SECTION 1 - INTRODUCTION
- 1.1 Taxonomy
- 1.2 Market Overview
- 1.3 Currency and Limitations
- 1.3.1 Currency
- 1.3.2 Limitations
- 1.4 Key Competitors
- SECTION 2 - RESEARCH METHODOLOGY
- 2.1 Research Approach
- 2.2 Data Collection and Validation
- 2.2.1 Secondary Research
- 2.2.2 Primary Research
- 2.3 Market Assessment
- 2.3.1 Market Size Estimation
- 2.3.2 Bottom-up Approach
- 2.3.3 Top-down Approach
- 2.3.4 Growth Forecast
- 2.4 Market Study Assumptions
- 2.5 Data Sources
- SECTION 3 - EXECUTIVE SUMMARY
- 3.1 Global Inverter Market, by Output Power Rating
- 3.2 Global Inverter Market, by End Use
- 3.3 Global Inverter Market, by Type
- 3.4 Global Inverter Market, by Output Voltage
- 3.5 Global Inverter Market, by Connection
- 3.6 Global Inverter Market, by Sales Channel
- 3.7 Global Inverter Market, by Geography
- 3.8 Market Position Grid
- SECTION 4 - PREMIUM INSIGHTS
- 4.1 Regulatory Framework
- 4.1.1 Standards
- 4.1.2 Regulatory Landscape
- 4.2 Value Chain Analysis
- 4.3 Supply Chain Analysis
- 4.4 COVID-19 Impact
- 4.5 Russia-Ukraine War Impact
- 4.6 PORTER's Five Force Analysis
- 4.7 PESTLE Analysis
- 4.8 SWOT Analysis
- 4.9 Go to Market Strategy
- 4.10 Opportunity Orbit
- 4.11 Multivariate Modelling
- 4.12 Pricing Analysis
- SECTION 5 - MARKET DYNAMICS
- 5.1 Trends
- 5.1.1 Electrification trends
- 5.1.2 Smart inverters
- 5.1.3 Trend 3
- 5.2 Drivers
- 5.2.1 Rise of renewable energy integration
- 5.2.2 Technological advancements
- 5.2.3 Driver 3
- 5.2.4 Driver 4
- 5.3 Restraints
- 5.3.1 Complexity in system integration
- 5.3.2 High initial costs
- 5.3.3 Restraint 3
- 5.4 Opportunities
- 5.4.1 Expansion of electric vehicles and charging infrastructure
- 5.4.2 Microgrids and off-grid applications
- 5.4.3 Opportunity 3
- 5.4.4 Opportunity 4
- 5.5 Challenges
- 5.5.1 Ensuring high reliability, quality and durability across global supply chains
- 5.5.2 Skills and workforce development
- 5.5.3 Challenge 3
- SECTION 6 - GLOBAL INVERTER MARKET, BY OUTPUT POWER RATING
- 6.1 Output Power Rating Summary
- 6.2 Market Attractive Index
- 6.3 Global Inverter Market, by Output Power Rating (2019-2032)
- SECTION 7 - GLOBAL INVERTER MARKET, BY END USE
- 7.1 End Use Summary
- 7.2 Market Attractive Index
- 7.3 Global Inverter Market, by End Use (2019-2032)
- SECTION 8 - GLOBAL INVERTER MARKET, BY TYPE
- 8.1 Type Summary
- 8.2 Market Attractive Index
- 8.3 Global Inverter Market, by Type (2019-2032)
- SECTION 9 - GLOBAL INVERTER MARKET, BY OUTPUT VOLTAGE
- 9.1 Output Voltage Summary
- 9.2 Market Attractive Index
- 9.3 Global Inverter Market, by Output Voltage (2019-2032)
- SECTION 10 - GLOBAL INVERTER MARKET, BY CONNECTION
- 10.1 Connection Summary
- 10.2 Market Attractive Index
- 10.3 Global Inverter Market, by Connection (2019-2032)
- SECTION 11 - GLOBAL INVERTER MARKET, BY SALES CHANNEL
- 11.1 Sales Channel Summary
- 11.2 Market Attractive Index
- 11.3 Global Inverter Market, by Sales Channel (2019-2032)
- SECTION 12 - GLOBAL INVERTER MARKET, BY GEOGRAPHY
- 12.1 Regional Summary
- 12.2 Market Attractive Index
- 12.3 Global Inverter Market, by Geography (2019-2032)
- SECTION 13 - NORTH AMERICA INVERTER MARKET
- 13.1 North America Summary
- 13.2 Market Attractive Index
- 13.3 North America Inverter Market, by Output Power Rating (2019-2032)
- 13.4 North America Inverter Market, by End Use (2019-2032)
- 13.5 North America Inverter Market, by Type (2019-2032)
- 13.6 North America Inverter Market, by Output Voltage (2019-2032)
- 13.7 North America Inverter Market, by Connection (2019-2032)
- 13.8 North America Inverter Market, by Sales Channel (2019-2032)
- 13.9 North America Inverter Market, by Country (2019-2032)
- 13.9.1 U.S.
- 13.9.2 Canada
- 13.9.3 Mexico
- 13.9.4 Rest of North America
- SECTION 14 - EUROPE INVERTER MARKET
- 14.1 Europe Summary
- 14.2 Market Attractive Index
- 14.3 Europe Inverter Market, by Output Power Rating (2019-2032)
- 14.4 Europe Inverter Market, by End Use (2019-2032)
- 14.5 Europe Inverter Market, by Type (2019-2032)
- 14.6 Europe Inverter Market, by Output Voltage (2019-2032)
- 14.7 Europe Inverter Market, by Connection (2019-2032)
- 14.8 Europe Inverter Market, by Sales Channel (2019-2032)
- 14.9 Europe Inverter Market, by Country (2019-2032)
- 14.9.1 Germany
- 14.9.2 U.K.
- 14.9.3 France
- 14.9.4 Italy
- 14.9.5 Spain
- 14.9.6 Russia
- 14.9.7 The Netherlands
- 14.9.8 Belgium
- 14.9.9 Turkey
- 14.9.10 Rest of Europe
- SECTION 15 - ASIA-PACIFIC INVERTER MARKET
- 15.1 Asia-Pacific Summary
- 15.2 Market Attractive Index
- 15.3 Asia-Pacific Inverter Market, by Output Power Rating (2019-2032)
- 15.4 Asia-Pacific Inverter Market, by End Use (2019-2032)
- 15.5 Asia-Pacific Inverter Market, by Type (2019-2032)
- 15.6 Asia-Pacific Inverter Market, by Output Voltage (2019-2032)
- 15.7 Asia-Pacific Inverter Market, by Connection (2019-2032)
- 15.8 Asia-Pacific Inverter Market, by Sales Channel (2019-2032)
- 15.9 Asia-Pacific Inverter Market, by Country (2019-2032)
- 15.9.1 China
- 15.9.2 India
- 15.9.3 Japan
- 15.9.4 South Korea
- 15.9.5 Singapore
- 15.9.6 Malaysia
- 15.9.7 Australia
- 15.9.8 Thailand
- 15.9.9 Philippines
- 15.9.10 Rest of Asia-Pacific
- SECTION 16 - SOUTH AMERICA INVERTER MARKET
- 16.1 South America Summary
- 16.2 Market Attractive Index
- 16.3 South America Inverter Market, by Output Power Rating (2019-2032)
- 16.4 South America Inverter Market, by End Use (2019-2032)
- 16.5 South America Inverter Market, by Type (2019-2032)
- 16.6 South America Inverter Market, by Output Voltage (2019-2032)
- 16.7 South America Inverter Market, by Connection (2019-2032)
- 16.8 South America Inverter Market, by Sales Channel (2019-2032)
- 16.9 South America Inverter Market, by Country (2019-2032)
- 16.9.1 Brazil
- 16.9.2 Argentina
- 16.9.3 Chile
- 16.9.4 Colombia
- 16.9.5 Rest of South America
- SECTION 17 - MIDDLE EAST AND AFRICA INVERTER MARKET
- 17.1 Middle East and Africa Summary
- 17.2 Market Attractive Index
- 17.3 Middle East and Africa Inverter Market, by Output Power Rating (2019-2032)
- 17.4 Middle East and Africa Inverter Market, by End Use (2019-2032)
- 17.5 Middle East and Africa Inverter Market, by Type (2019-2032)
- 17.6 Middle East and Africa Inverter Market, by Output Voltage (2019-2032)
- 17.7 Middle East and Africa Inverter Market, by Connection (2019-2032)
- 17.8 Middle East and Africa Inverter Market, by Sales Channel (2019-2032)
- 17.9 Middle East and Africa Inverter Market, by Country (2019-2032)
- 17.9.1 Kingdom of Saudi Arabia
- 17.9.2 South Africa
- 17.9.3 U.A.E.
- 17.9.4 Egypt
- 17.9.5 Rest of Middle East and Africa
- SECTION 18 - COMPANY SHARE ANALYSIS
- 18.1 Global Inverter Market, Company Share Analysis
- 18.2 North America Inverter Market, Company Share Analysis
- 18.3 Europe Inverter Market, Company Share Analysis
- 18.4 Asia-Pacific Inverter Market, Company Share Analysis
- SECTION 19 - COMPANY PROFILES
- 19.1 Huawei Technologies Co., Ltd.
- 19.1.1 Company Snapshot
- 19.1.2 Financial Overview
- 19.1.3 Product Portfolio
- 19.1.4 Recent Developments
- 19.2 SUNGROW
- 19.2.1 Company Snapshot
- 19.2.2 Financial Overview
- 19.2.3 Product Portfolio
- 19.2.4 Recent Developments
- 19.3 SMA Solar Technology AG
- 19.3.1 Company Snapshot
- 19.3.2 Financial Overview
- 19.3.3 Product Portfolio
- 19.3.4 Recent Developments
- 19.4 Power Electronics S.L.
- 19.4.1 Company Snapshot
- 19.4.2 Financial Overview
- 19.4.3 Product Portfolio
- 19.4.4 Recent Developments
- 19.5 Fimer Group
- 19.5.1 Company Snapshot
- 19.5.2 Financial Overview
- 19.5.3 Product Portfolio
- 19.5.4 Recent Developments
- 19.6 Fronius International GmbH
- 19.6.1 Company Snapshot
- 19.6.2 Financial Overview
- 19.6.3 Product Portfolio
- 19.6.4 Recent Developments
- 19.7 Altenergy Power System Inc.
- 19.7.1 Company Snapshot
- 19.7.2 Financial Overview
- 19.7.3 Product Portfolio
- 19.7.4 Recent Developments
- 19.8 Enphase Energy
- 19.8.1 Company Snapshot
- 19.8.2 Financial Overview
- 19.8.3 Product Portfolio
- 19.8.4 Recent Developments
- 19.9 DAFRON
- 19.9.1 Company Snapshot
- 19.9.2 Financial Overview
- 19.9.3 Product Portfolio
- 19.9.4 Recent Developments
- 19.10 Delta Electronics, Ltd.
- 19.10.1 Company Snapshot
- 19.10.2 Financial Overview
- 19.10.3 Product Portfolio
- 19.10.4 Recent Developments
- SECTION 20 - RELATED REPORTS
- SECTION 21 - DISCLAIMER
RESEARCH METHODOLOGY
The research methodology employed in Uniprism Market Research involves four basic steps namely research and data collection, data pre-processing, modeling and forecasting, quality assurance and output.
RESEARCH AND DATA COLLECTION
A tripod model research technique is followed for research and data collection in which various approaches such as primary research, secondary research, and product mapping are considered.
Primary research basically involves the process of conducting personalized interviews with market related professionals of major market players, investors, distributors, vendors and many more.
The secondary research include data published by government, annual reports, press releases, investor presentations of companies, white papers, certified publications, annual manufacturing limit of the respective industries related to the market, production consumption analysis of certain products respective to the market and many more.
Below mention are few of the sources which we have considered while estimating the market size:
For instance,
- Research articles published on Technium
- Science and MDPI
- Research publications by government approved associations and societies
Product mapping means the process of mapping the list of products that a key player contributes to the market as well as estimating the revenue of those products in order to define the Global Company share analysis of the respective Global Company in global, regional, and country level markets.
DATA PRE-PROCESSING
The term "data pre-processing" refers to the collection of procedures and methods used to clean, modify, and make ready for analysis the raw data gathered during research and data collection. The completion of this phase is necessary to guarantee that the data are reliable, consistent, and appropriate for statistical analysis and other data-driven tasks. The data pre-processing ensures that the information gathered from research and data collection is comparable and expressed in standard units, by the integration of missing data pointers and algorithmic approaches.
MODELING AND FORECASTING
The process of developing mathematical, statistical, or computational representations of real-world occurrences or relationships is known as modelling. These models are intended to replicate and explain market interactions, interdependence, and dynamics. These models are used by Uniprism Market Research to acquire a better knowledge of numerous market characteristics such as customer preferences, pricing elasticity, competition dynamics, and more. Depending on the individual study aims, many types of models are utilized, such as regression models, econometric models, decision tree models, and machine learning models.
Forecasting is the process of predicting future market conditions, trends, and occurrences using past data and models. Forecasting is used by Uniprism Market Research to estimate future sales, demand for products or services, market growth, and other important performance metrics. Forecasting accurately can assist organizations in making educated decisions about resource allocation, pricing, inventory management, and marketing tactics.
We create standardized bottom-up or top-down models that scale by leveraging data science and machine learning technology. All our market models consider the unique market characteristics of each country. Forecasting is based on major market indicators and a combination of traditional methodologies, such as exponential smoothing, time series analysis, regression analysis, and more modern techniques such as machine learning algorithms are all forecasting methodologies. The method chosen is determined on the nature of the data and the specific forecasting aims.
QUALITY ASSURANCE AND OUTPUT
Quality assurance and output involves the process of validation, adjustments, further publications of key market indicators. Extensive plausibility and consistency tests are performed on derived time series to ensure the high degree of quality of our market analysis. This quality assurance procedure also includes rigorous inspection, validation, and editing by an experienced management team to assure the dependability of the published data.