Global Power Inverter Market Status by Top Industry Player, Demand, Growth, Trends & Forecast to 2018-2023

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    Global Power Inverter Market to Reach US
95 Billion by 2023

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Report Description and Highlights
Report Description
Global Power Inverter Market to Reach US 95
Billion by 2023 The global power inverter
market has witnessed a positive growth over the
past several years. This can be attributed to
rapid electrification and urbanization in
emerging regions coupled with the
environment-friendly nature of power
inverters. The latest report by IMARC Group,
titled Power inverter Market Global Industry
Trends, Share, Size, Growth, Opportunity and
Forecast 2018-2023, finds that the global power
inverter market reached a value of US 64 Billion
in 2017, registering a CAGR of 7 during
2010-2017. Power inverter is an electronic device
which changes direct current (DC) from batteries,
solar panels, or high voltage DC transmission
lines to alternating current (AC). It is used to
run devices, tools, and other residential and
commercial electrical appliances. Unlike
conventional generator, power inverter is
generally smaller, lighter and provides more
energy savings. Over the years, power inverters
have gained prominence as they ensure a highly
efficient and reliable power supply, offer low
operating cost, and eliminate inconvenience of
using change-over switches.
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Report Description and Highlights
Report Description
Global Power Inverter Market Trends With
growing electrification and rapid urbanization,
the majority of the population nowadays relies on
electronic appliances and gadgets, such as air
conditioners, televisions, laptops,
refrigerators, etc. This has resulted in a
significant need for power inverters which are
used to provide an uninterrupted power supply and
as an alternate backup power solution in case of
emergencies. Moreover, power inverters produce
zero emission while providing electricity and are
also substantially quieter in operation than
traditional generators. Further, power inverter
manufacturers are investing in RD activities so
as to develop new technologies which will enhance
characteristics associated with the operation of
these inverters. However, low-battery lifespan
coupled with high maintenance cost are the major
factors constraining the demand for power
inverters. Looking forward, the market is
projected to reach a value of US 95 Billion by
2023. Read more here https//www.imarcgroup.co
m/prefeasibility-report-power-inverter-manufacturi
ng-plant
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Report Description
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Report Description and Highlights

• Global Power Inverter Market Summary
• On the basis of type, the market has been
  segmented into lt5KW, 5-95 KW, 100-495 KW and gt500
  KW. Amongst these, 100KW to 495KW represent the
  most popular type of power inverter, holding the
  majority of the global share.
• Based on application, the report finds that motor
  drives account for the largest market share.
  Owing to the high dependency on the electronic
  appliances, the demand for motor drives are
  escalating across the globe. Other major
  application segments include UPS, rail traction,
  wind turbines, EVs/HEVs and solar PVs.
• On a geographical front, Asia-Pacific is the
  leading market for power inverters, accounting
  for nearly a half of the total market share.
  Other major regions are Europe, North America,
  Latin America, and Middle East and Africa.
• The competitive landscape of the market has also
  been examined with some of the key players being
  SMA Solar Technology, Omron Corporation, ABB Ltd,
  Tabuchi Electric Co., Ltd, Tmeic Corporation,
  Advanced Energy Industries, Enphase Energy,
  Schneider Electric, Huawei and SolarEdge.
• Browse More Related Reports 
• Fuel Cell Market https//www.imarcgroup.com/fuel-
  cell-market
• GCC Water Heater Market https//www.imarcgroup.co
  m/gcc-water-heater-market

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Report Description and Highlights
Report Description

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