Inverter Market Size to Grow by USD 20.22 Bn | Technavio

NEW YORK, Jan. 13, 2022 /PRNewswire/ -- The inverter market is expected to grow by USD 20.22 billion from 2020 to 2025. The market's growth momentum will accelerate at a CAGR of 4.89% during this period. The year-over-year growth rate of the market in 2021 will be 1%.

Attractive Opportunities in Inverter Market by Application and Geography - Forecast and Analysis 2021-2025

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Drivers and Trends
The rise in the consumption of wind energy is one of the key factors driving the growth of the inverter market. Countries across the globe are shifting their focus toward the use of renewable sources to produce power due to the depleting conventional sources of energy and growing concerns regarding greenhouse gas (GHG) emissions. The rising awareness about the benefits of wind energy is propelling the demand for wind turbine inverters. This is because these inverters can increase the rotational speed and energy output while ensuring a high rate of return for investors from wind projects. The growing cost of fossil fuels is encouraging consumers to shift toward renewable wind energy solutions. Wind turbines will face a rapid growth rate, which will propel the growth of wind turbines.

The increasing demand for clean power is one of the key trends in the inverter market. Climate change policies and improvements in technology have shifted the generation of power to low-carbon or no-carbon technologies such as solar, wind, and hydropower. The number of countries implementing renewable targets and policies is growing. Hence, there has been an increase in renewable power production. This necessitates the presence of adequate and reliable power transmission, such as that provided by a smart grid. End-users have adopted alternative forms of energy instead of depending on power generators that operate on fossil fuels. This shift of end-users, coupled with various government initiatives, will drive the inverter market in the coming years.

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Top 4 Inverter Market Players

  • ABB Ltd. -  The company offers a comprehensive range of power converters and inverters for use in a wide range of applications across all industries.
  • Danfoss AS - The company provides a range of energy-efficient AC Drives for varied applications.
  • Eaton Corporation Plc - The company provides DC Inverter solutions such as their Telecom Inverter solutions, Matrix 48Vdc Inverter solutions, and Matrix 2000 Standalone Inverter.
  • General Electric Co. - The company offers its GEs LV5 Solar Power system, which comprises their LV5 1500 V solar inverter with medium voltage power transformer, optional MV Ring Main Unit (RMU), auxiliary transformer, and various options into a single, standard 20ft ISO high cube container.
  • Huawei Investment & Holding Co. Ltd. - The company offers leading Smart PV solutions wherein the latest ICT technologies are combined with PV for optimal power generation and backup.

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Inverter Market 2021-2025: Segmentation

  • Application
    • Motor Drive
    • Renewable Energy
    • UPS
  • Geography
    • APAC
    • Europe
    • North America
    • MEA
    • South America

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Inverter Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5%

Market growth 2021-2025

USD 20.22 billion

Market structure

Fragmented

YoY growth (%)

1.00

Regional analysis

APAC, Europe, North America, MEA, and South America

Performing market contribution

APAC at 41%

Key consumer countries

US, China, Germany, UK, Japan, and France

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ABB Ltd., Danfoss AS, Eaton Corporation Plc, General Electric Co., Huawei Investment & Holding Co. Ltd., Mitsubishi Electric Corp., Schneider Electric SE, Siemens AG, SMA Solar Technology AG, and Vertiv Group Corp.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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