Inverter Market Size to Surpass USD 39.6 Billion by 2028, exhibiting a CAGR of 16.0%

According to a latest research report, The Inverter market size is projected to reach USD 39.6 billion by 2028 from an estimated USD 18.9 billion in 2023, at a CAGR of 16.0% during the forecast period. The inverter market is experiencing rapid growth driven by several factors. Increased adoption of renewable energy sources, such as solar and wind power, necessitates inverters to convert generated direct current (DC) into usable alternating current (AC). Technological advancements have enhanced inverter efficiency and affordability, making them integral in diverse applications like residential solar installations, electric vehicles, and industrial machinery. Additionally, the growing demand for uninterrupted power supply and the expansion of smart grids contribute to the market surge. As energy needs evolve towards sustainability and efficiency, the inverter market continues to expand, meeting the demands of a changing energy landscape.

key trends

Increased adoption of renewable energy, technological advancements that improve efficiency, integration into energy storage systems, the emergence of smart features, the popularity of string inverters and microinverters, the development of hybrid inverter systems, contributions to grid modernization, and increased demand for electric vehicles. Manufacturers are also focusing on efficiency improvements and cost reductions to help with the overall transition to sustainable energy solutions.

Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=263171818

This report segments the Inverter market based on inverter type into: solar inverter, vehicle inverter and others. The vehicle inverter segment is expected to be the largest segment in Inverter market in the forecast period. The global need for vehicle inverters is increasing due to the growing popularity of electric cars (EVs). EVs are gaining popularity as the automobile industry swings towards electrification in order to address environmental concerns and lessen reliance on traditional fossil fuels. Vehicle inverters are critical components in electric propulsion systems, converting direct current (DC) from the battery to alternating current (AC) for the electric motor. The growing global demand for EVs is creating a corresponding surge in demand for car inverters to facilitate the move to cleaner, more sustainable transportation.

This report segments the Inverter market by output voltage, has been segmented into 100–300 V, 300–500 V, and Above 500 V. 100-300V is expected to be the fastest growing segment in the market expanding rapidly due to its versatility in covering a wide range of energy requirements. This voltage range is ideal for a variety of applications, including domestic solar installations, where inverters with this output range efficiently convert the generated direct current (DC) from solar panels to usable alternating current (AC). As global demand for distributed energy generation and residential solar systems grows, the 100-300V category meets the needs of these applications, contributing to its position as the fastest-growing market segment in the inverter industry.

Key Stakeholders

• Energy utilities
• Government and research organizations
• Institutional investors
• Investors/shareholders
• Process industries and power and energy associations
• Public and private operators of power plants
• Inverter manufacturers, dealers, and suppliers

Request Sample Pages of the Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=263171818

Numerous interrelated reasons are driving the market for inverters, which is expanding significantly. As renewable energy sources like solar and wind power become more widely used, inverters become more and more necessary to convert DC energy into AC. Increased use of electric vehicles and other forms of electrification accelerates the need for inverters in powertrains and charging infrastructure. Continuous technical developments extend the functionality and efficiency of inverters, increasing their use in a variety of industries. Furthermore, the need for inverters in the residential, commercial, and industrial sectors is driven by the growing emphasis on energy efficiency as well as the necessity for a steady supply of electricity. The inverter market is expanding as sustainability and the energy transition become more and more important worldwide.

Browse Trending Reports

Lithium Iron Phosphate Batteries Market – Global Forecast to 2028

Residential Energy Storage Market – Global Forecast to 2028

Inverter Market SWOT Analysis, Competitive Landscape and Massive Growth 2028

According to a research report "Inverter Market by Type (Solar Inverters, Vehicle Inverter), Output Power Rating (Upto 10 kW, 10-50 kW, 51-100 kW, above 100 kW), End User (PV Plants, Residential, Automotive), Connection, Voltage, Sales Channel & Region - Global Forecast to 2028" published by MarketsandMarkets, the Inverter market is projected to reach USD 39.6 billion by 2028 from USD 18.9 billion in 2023, at a CAGR of 16.0% during the forecast period.

The simplicity of installation for both string and micro inverters is the main factor propelling the global market's expansion. The industry has grown as a result of increased investment in the development of renewable power infrastructure and the rise in demand for electricity from diverse uses. It is projected that the renewable energy and rural electrification sectors would see a sharp increase in investment, which will present profitable prospects for industry participants. The business is growing globally as a result of the increased use of big-sized string inverters in the utility system and other commercial and industrial sectors. These inverters make it easier to install huge solar systems since they can link many solar panels.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=263171818

Above 500 V, by output voltage, is expected to be the second fastest growing segment during the forecast period.

Based on output voltage, the Inverter market has been split into 100-300 V, 300-500 V, and above 500. The above 500 V is expanding mostly as a result of its use in utility-scale renewable energy projects and large-scale industrial applications. For the purpose of converting and controlling the significant power outputs of wind and solar farms, these high-voltage inverters are essential. The global adoption of large-scale renewable energy programmes and high-capacity industrial operations is driving up demand for inverters that operate above 500V. The expansion of this market is a result of the worldwide trend towards large-scale clean energy production and the requirement for strong, high-capacity inverters to enable these powerful and far-reaching applications.

The above 100 kw segment, by output power rating segment, is expected to be the fastest segment during the forecast period.

This report segments the Inverter market based on output power rating into below 10 kw, 10-50 kw, 50-100 kw, and above 100 kw . The above 100 kW output power rating segment in the inverter market is growing due to the escalating demand for high-capacity inverters in large-scale industrial and commercial applications. Industries and enterprises increasingly seek powerful inverters to handle substantial energy loads efficiently. This trend aligns with the expanding adoption of renewable energy solutions, where solar and wind projects demand inverters with capacities exceeding 100 kW to accommodate higher power outputs. As industries prioritize sustainable practices, the growth in this segment reflects the need for robust, high-power inverters to support large-scale clean energy initiatives.

Ask Sample Pages of the Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=263171818

North America is expected to be the second largest region in the Inverter market

Considering many of factors, North America is the second-largest region in the inverter industry. An expanding market for renewable energy, especially in the US and Canada, drives up demand for inverters for solar and wind power systems. The market for inverters is growing as a result of supportive government policies and incentives that encourage the use of renewable energy. Increased inverter deployment is also a result of the region's concentration on grid upgrading and the electrification of numerous sectors. Furthermore, the need for inverters is being driven by a shift towards clean energy and a greater awareness of sustainability, which is why North America is a major player in the worldwide inverter market.

Some of the major players in the Inverter market are Huawei Technologies Co., Ltd. (China), SUNGROW (China), SMA Solar Technology AG (Germany), Power Electronics S.L. (Spain), and Fimer Group (Italy).The major strategies adopted by these players include sales contracts and agreements.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

 Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: newsletter@marketsandmarkets.com

Inverter Market Report Global Industry Statistics & Regional Outlook to 2027

The report "Inverter Market by Type (Solar Inverters, Vehicle Inverter, others), Output Power Rating (Upto 10 kW, 10-50 kW, 51-100 kW, above 100 kW), End User (PV Plants, Residential, Automotive), Connection, Voltage, Sales Channel & Region - Global Forecast to 2027", is expected to grow at a CAGR of 15.7% during the forecast period, from an estimated USD 16.3 billion in 2022 to USD 33.8 billion in 2027. Increasing adoption of inverters worldwide in case of power back-ups, rise in the investments and technological developments in PV systems to generate clean power is fueling demand for inverters. The rise in the roof top installations, and developments in the smart grid infrastructure are creating numerous opportunities for inverter manufacturers.

Browse 174 market data Tables and 59 Figures spread through 223 Pages and in-depth TOC on "Inverter Market - Global Forecast to 2027"

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=263171818

The 100–300 V, by output voltage, is expected to be the largest and fastest inverter market during the forecast period

The 100–300 V holds the largest share of the global inverter market. The increase in the urbanization has increased the electricity demand in the various sectors. One such sector is residential sector where there is increased electricity demand. The AC voltage that is operated in this sector generally lies in between 100–300 V. Due to rise in the number of roof-top solar installations and as well as the power backup systems in households. This is fuelling the demand for inverters which are in connection with the PV systems and power backup systems in the range of 100–300 V in the market.

Above 100 kW segment is anticipated to be the fastest-growing inverter market by output power rating, during the forecast period

Above 100 kW segment is expected to have the largest market share during the forecast period. Government initiatives in increasing the renewable energy mix in their countries contributed to the rise in the developments of PV plants is fuelling the demand for above 100 kW output power rating inverters. The expanding automotive industry towards manufacturing electric vehicles is also contributing to the growth of the segment.

Asia Pacific is expected to dominate the global inverter market during the forecast period

In this report, the inverter market has been analyzed for 5 regions, namely Asia Pacific, North America, Europe, Middle East & Africa, South America. Asia Pacific is expected to lead the market during the forecast period.

The inverter market in Asia Pacific is witnessing significant developments in the renewable energy generation due to climate change actions taken by various countries in the region, which has supported the demand for inverters across countries of the region. China is among the fastest growing economies in the world and the increase automation in the country has tremendously increased power generation and consumption. These factors have made China one of the most lucrative markets for the power industry. Moreover, the government policies and schemes supporting solar energy generation in the country is expected to contribute to the growth of the inverter market in Asia Pacific. Policies like feed-in-tariff, and net metering have also been designed to support the growth of roof top solar installations. These factors are likely to create a huge demand for inverters in the region.

Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=263171818

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the inverter market. These include Huawei Technologies (China), Sungrow Power Supply (China), SMA Solar Technology (Germany), Power Electronics (Spain), FIMER (Italy). The leading players are trying to establish themselves in the markets of developed countries and are adopting various strategies such as product launches, contracts, agreements, partnerships, collaborations, alliances, acquisitions, and expansions to increase their respective market shares.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com