Product Code: SR112024A347
The global power inverter market size reached USD 83.7 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 123.8 Billion by 2033, exhibiting a growth rate (CAGR) of 4.4% during 2025-2033.
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:
Breakup by Type:
<5KW
5KW to 95KW
100KW to 495KW
Above 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 Drives
Uninterruptible Power Supply (UPS)
Rail Traction
Wind Turbines
Electric Vehicles/Hybrid Electric Vehicles (EVs/HEVs)
Solar PVs
Others
Amongst these, motor drives are the largest application segment.
Breakup by End-Use Sector:
Utility
Residential
Commercial 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 Pacific
- North America
- Europe
- Middle East and Africa
- Latin 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 AG
- Omron Corporation
- ABB Ltd
- Tabuchi Electric Co., Ltd
- Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC)
- Advanced Energy Industries, Inc.
- Enphase Energy, Inc.
- Schneider Electric SE
- Huawei Technologies Co., Ltd.
- SolarEdge Technologies Inc.
Key Questions Answered in This Report
- 1. 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?
Table of Contents
1 Preface
2 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 Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 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 Challenges
6 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 Forecast
7 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 Forecast
8 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 Forecast
9 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 Forecast
10 Competitive Landscape
- 10.1 Market Structure
- 10.2 Key Players
11 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 Requirements
12 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 Investments
13 Loans and Financial Assistance
14 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 Analysis
15 Key Player Profiles