Summary

The global power inverter market size reached US$ 80.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 121.7 Billion by 2032, exhibiting a growth rate (CAGR) of 4.6% during 2024-2032.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.Power Inverter Market Trends: 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 report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on type, application and end-use sector.Breakup by Type:<5KW5KW to 95KW100KW to 495KWAbove 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 DrivesUninterruptible Power Supply (UPS)Rail TractionWind TurbinesElectric Vehicles/Hybrid Electric Vehicles (EVs/HEVs)Solar PVsOthersAmongst these, motor drives are the largest application segment.Breakup by End-Use Sector:UtilityResidentialCommercial 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 PacificNorth AmericaEuropeMiddle East and AfricaLatin 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 AGOmron CorporationABB LtdTabuchi Electric Co., LtdToshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC)Advanced Energy Industries, Inc.Enphase Energy, Inc.Schneider Electric SEHuawei Technologies Co., Ltd.SolarEdge Technologies Inc.Key Questions Answered in This Report1. What is the size of the global power inverter market?2. What is the expected growth rate of the global power inverter market?3. What are the key factors driving the global power inverter market?4. What has been the impact of COVID-19 on the global power inverter market?5. What is the breakup of the global power inverter market based on the type?6. What is the breakup of the global power inverter market based on the application?7. What is the breakup of the global power inverter market based on the end-use sector?8. What are the key regions in the global power inverter market?9. Who are the key players/companies in the global power inverter market?

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Table of Contents

1 Preface2 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 Methodology3 Executive Summary4 Introduction 4.1 Overview 4.2 Key Industry Trends5 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 Challenges6 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 Forecast7 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 Forecast8 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 Forecast9 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 Forecast10 Competitive Landscape 10.1 Market Structure 10.2 Key Players11 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 Requirements12 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 Investments13 Loans and Financial Assistance14 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 Analysis15 Key Player ProfilesList of FiguresFigure 1: Global: Power Inverter Market: Major Drivers and ChallengesFigure 2: Global: Power Inverter Market: Sales Volume (in MW), 2018-2023Figure 3: Global: Power Inverter Market: Sales Value (in Billion US$), 2018-2023Figure 4: Power Inverter Market: Price StructureFigure 5: Global: Power Inverter Market: Production Breakup by Region (in %), 2023Figure 6: Global: Power Inverter Market: Breakup by Type (in %), 2023Figure 7: Global: Power Inverter Market: Breakup by Application (in %), 2023Figure 8: Global: Power Inverter Market: Breakup by End-Use Sector (in %), 2023Figure 9: Global: Power Inverter Market Forecast: Sales Volume (in MW), 2024-2032Figure 10: Global: Power Inverter Market Forecast: Sales Value (in Billion US$), 2024-2032Figure 11: Global: Power Inverter Industry: SWOT AnalysisFigure 12: Global: Power Inverter Industry: Value Chain Analysis Figure 13: Global: Power Inverter Industry: Porter’s Five Forces AnalysisFigure 14: Asia Pacific: Power Inverter Market: Sales Value (in Million US$), 2018 & 2023Figure 15: Asia Pacific: Power Inverter Market Forecast: Sales Value (in Million US$), 2024-2032Figure 16: Europe: Power Inverter Market: Sales Value (in Million US$), 2018 & 2023Figure 17: Europe: Power Inverter Market Forecast: Sales Value (in Million US$), 2024-2032Figure 18: North America: Power Inverter Market: Sales Value (in Million US$), 2018 & 2023Figure 19: North America: Power Inverter Market Forecast: Sales Value (in Million US$), 2024-2032Figure 20: Latin America: Power Inverter Market: Sales Value (in Million US$), 2018 & 2023Figure 21: Latin America: Power Inverter Market Forecast: Sales Value (in Million US$), 2024-2032Figure 22: Middle East and Africa: Power Inverter Market: Sales Value (in Million US$), 2018 & 2023Figure 23: Middle East and Africa: Power Inverter Market Forecast: Sales Value (in Million US$), 2024-2032Figure 24: Global: Power Inverter Market (<5KW): Sales Value (in Million US$), 2018 & 2023Figure 25: Global: Power Inverter Market Forecast (<5KW): Sales Value (in Million US$), 2024-2032Figure 26: Global: Power Inverter Market (5KW to 95KW): Sales Value (in Million US$), 2018 & 2023Figure 27: Global: Power Inverter Market Forecast (5KW to 95KW): Sales Value (in Million US$), 2024-2032Figure 28: Global: Power Inverter Market (100KW to 495KW): Sales Value (in Million US$), 2018 & 2023Figure 29: Global: Power Inverter Market Forecast (100KW to 495KW): Sales Value (in Million US$), 2024-2032Figure 30: Global: Power Inverter Market (Above 500KW): Sales Value (in Million US$), 2018 & 2023Figure 31: Global: Power Inverter Market Forecast (Above 500KW): Sales Value (in Million US$), 2024-2032Figure 32: Global: Power Inverter Market (in Motor Drives): Sales Value (in Million US$), 2018 & 2023Figure 33: Global: Power Inverter Market Forecast (in Motor Drives): Sales Value (in Million US$), 2024-2032Figure 34: Global: Power Inverter Market (in UPS): Sales Value (in Million US$), 2018 & 2023Figure 35: Global: Power Inverter Market Forecast (in UPS): Sales Value (in Million US$), 2024-2032Figure 36: Global: Power Inverter Market (in Rail Traction): Sales Value (in Million US$), 2018 & 2023Figure 37: Global: Power Inverter Market Forecast (in Rail Traction): Sales Value (in Million US$), 2024-2032Figure 38: Global: Power Inverter Market (in Wind Turbines): Sales Value (in Million US$), 2018 & 2023Figure 39: Global: Power Inverter Market Forecast (in Wind Turbines): Sales Value (in Million US$), 2024-2032Figure 40: Global: Power Inverter Market (in EVs/HEVs): Sales Value (in Million US$), 2018 & 2023Figure 41: Global: Power Inverter Market Forecast (in EVs/HEVs): Sales Value (in Million US$), 2024-2032Figure 42: Global: Power Inverter Market (in Solar PVs): Sales Value (in Million US$), 2018 & 2023Figure 43: Global: Power Inverter Market Forecast (in Solar PVs): Sales Value (in Million US$), 2024-2032Figure 44: Global: Power Inverter Market (Other Applications): Sales Value (in Million US$), 2018 & 2023Figure 45: Global: Power Inverter Market Forecast (Other Applications): Sales Value (in Million US$), 2024-2032Figure 46: Global: Power Inverter Market (End-Use in Utility Sector): Sales Value (in Million US$), 2018 & 2023Figure 47: Global: Power Inverter Market Forecast (End-Use in Utility Sector): Sales Value (in Million US$), 2024-2032Figure 48: Global: Power Inverter Market (End-Use in Residential Sector): Sales Value (in Million US$), 2018 & 2023Figure 49: Global: Power Inverter Market Forecast (End-Use in Residential Sector): Sales Value (in Million US$), 2024-2032Figure 50: Global: Power Inverter Market (End-Use in Commercial and Industrial Sector): Sales Value (in Million US$), 2018 & 2023Figure 51: Global: Power Inverter Market Forecast (End-Use in Commercial and Industrial Sector): Sales Value (in Million US$), 2024-2032Figure 52: Global: Power Inverter Market: Breakup by Key Players (in %)Figure 53: Power Inverter Manufacturing Plant: Detailed Process FlowFigure 54: Power Inverter Manufacturing Process: Conversion Rate of FeedstocksFigure 55: Power Inverter Manufacturing Plant: Breakup of Capital Costs (in %)Figure 56: Power Inverter Industry: Margins Across Various Stages of the Supply ChainFigure 57: Power Inverter Production: Manufacturing Cost Breakup (in %)List of TablesTable 1: Global: Power Inverter Market: Key Industry Highlights, 2023 and 2032Table 2: Global: Power Inverter Market Forecast: Breakup by Region (in Million US$), 2024-2032Table 3: Global: Power Inverter Market Forecast: Breakup by Type (in Million US$), 2024-2032Table 4: Global: Power Inverter Market Forecast: Breakup by Application (in Million US$), 2024-2032Table 5: Global: Power Inverter Market Forecast: Breakup by End-Use Sector (in Million US$), 2024-2032Table 6: Global: Power Inverter Market: Competitive Structure Table 7: Global: Power Inverter Market: Key ManufacturersTable 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 UtilitiesTable 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 InstitutionsTable 17: Power Inverter Manufacturing Plant: Capital Costs (in US$)Table 18: Power Inverter Manufacturing Plant: Techno-Economic ParametersTable 19: Power Inverter Manufacturing Plant: Income Projections (in US$)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$)Table 25: Power Inverter Manufacturing Plant: Profit and Loss Account (in US$)