Market Overview:
The global compact inverter technology market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for energy-efficient and reliable power solutions, especially in developing countries. In addition, the growing awareness about renewable energy sources is also contributing to the growth of this market. The global compact inverter technology market can be segmented on the basis of type into single-phase inverters and three-phase inverters. The single-phase inverter segment is expected to account for a larger share of the global compact inverter technology market than the three-phase inverter segment during the forecast period from 2018 to 2030. This can be attributed to its lower cost and easy installation as compared with three-phase inverters.
Product Definition:
A compact inverter is a type of electrical inverter that is designed to be small and lightweight. They are often used in applications where space and weight are limited, such as in cars, boats, and RVs. Compact inverters typically use less energy than traditional inverters, making them more efficient. They also generate less heat, which can be important in confined spaces.
Single-Phase Inverter:
Single-phase inverter is a type of electric motor that uses the principle of magnetic induction to generate electrical energy. The single-phase inverter has only one windings and no internal resistance, so it can make very small turns compared to a three-phase motor, which makes its operation more efficient.
The single-phase inverter technology is used in various applications such as residential solar systems and stand alone PV systems among others.
Three-Phase Inverter:
A three-phase inverter is a power electronic device that produces direct current and alternating current from the same output terminals. It can be described as a combination of an AC to DC convertor and a rectifier. The three-phase inverter converts the fluctuating electric energy into stableDC energy by using the diode bridge circuit, which has six diodes connected in series for producing one volt.
Application Insights:
In terms of revenue, the commercial application segment dominated the global compact inverter technology market with a share of 33.3% in 2017. The growth can be attributed to increasing government funding and support for renewable energy projects across various countries including China, Germany, India and Brazil. In addition, growing investments by companies such as Siemens AG., ABB Ltd., and Mitsubishi Electric Corporation are expected to propel industry expansion over the forecast period.
The industrial application segment is projected to expand at a CAGR of XX% from 2018 to 2030 owing to rising demand for power generation equipment in industries such as oil & gas, steel manufacturing and pulp & paper manufacturing among others which require large scale electricity requirements on a continuous basis resulting in high product adoption across these sectors over the forecast period.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing region over the forecast period. The growth can be attributed to increasing industrialization and rising commercial construction activities in emerging economies, such as China and India. In addition, growing investments in smart grid projects are also anticipated to drive regional market growth over the next eight years.
The Asia Pacific compact inverter technology market accounted for a revenue share of more than 30% in 2017 owing to its large base of manufacturing companies that export products mainly to developed regions, such as Europe and North America.
Growth Factors:
- Increasing demand for energy-efficient devices: The global market for energy-efficient devices is expected to grow at a CAGR of more than 9% from 2016 to 2020. Compact inverter technology offers high efficiency and helps reduce the overall power consumption of equipment, making it an attractive option for consumers and businesses alike.
- Rising demand for solar PV systems: Solar photovoltaic (PV) systems are becoming increasingly popular due to their ability to generate clean, renewable energy. Compact inverters are well suited for use in solar PV systems as they offer high efficiency and reliability at a lower cost than traditional inverters.
- Growing popularity of electric vehicles: Electric vehicles are becoming more popular as governments around the world work towards reducing emissions from transportation sectors. Compact inverters can be used in electric vehicles to convert DC power from batteries into AC power that can be used to run the vehicle’s electrical system.
Scope Of The Report
Report Attributes
Report Details
Report Title
Compact Inverter Technology Market Research Report
By Type
Single-Phase Inverter, Three-Phase Inverter
By Application
Residential, Commercial, Industrial
By Companies
OMRON Corporation, Growatt New Energy Technology, Tripp Lite, Cobra Electronics, Toshiba Schneider Inverter, Ring Automotive Limited, Eaton (Cooper Bussmann), Movek Group, Mitsubishi Electric Corporation, Zucchetti Centro Sistemi, Hitachi, YASKAWA Europe, Fuji Electric, Panasonic Electric, CE+T Power, Kisae Technology, Xantrex, Samlex America, Wagan Tech, PowerBright
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
150
Number of Tables & Figures
105
Customization Available
Yes, the report can be customized as per your need.
Global Compact Inverter Technology Market Report Segments:
The global Compact Inverter Technology market is segmented on the basis of:
Types
Single-Phase Inverter, Three-Phase Inverter
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Residential, Commercial, Industrial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- OMRON Corporation
- Growatt New Energy Technology
- Tripp Lite
- Cobra Electronics
- Toshiba Schneider Inverter
- Ring Automotive Limited
- Eaton (Cooper Bussmann)
- Movek Group
- Mitsubishi Electric Corporation
- Zucchetti Centro Sistemi
- Hitachi
- YASKAWA Europe
- Fuji Electric
- Panasonic Electric
- CE+T Power
- Kisae Technology
- Xantrex
- Samlex America
- Wagan Tech
- PowerBright
Highlights of The Compact Inverter Technology Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Single-Phase Inverter
- Three-Phase Inverter
- By Application:
- Residential
- Commercial
- Industrial
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Compact Inverter Technology Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Compact inverter technology is a type of energy conversion technology that uses smaller, more efficient inverters to convert electrical energy into mechanical or thermal energy. Compact inverters are often used in applications where space is at a premium, such as in portable electronics and vehicles.
Some of the major players in the compact inverter technology market are OMRON Corporation, Growatt New Energy Technology, Tripp Lite, Cobra Electronics, Toshiba Schneider Inverter, Ring Automotive Limited, Eaton (Cooper Bussmann), Movek Group, Mitsubishi Electric Corporation, Zucchetti Centro Sistemi, Hitachi, YASKAWA Europe, Fuji Electric, Panasonic Electric, CE+T Power, Kisae Technology, Xantrex, Samlex America, Wagan Tech, PowerBright.
The compact inverter technology market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Compact Inverter Technology Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Compact Inverter Technology Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Compact Inverter Technology Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Compact Inverter Technology Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Compact Inverter Technology Market Size & Forecast, 2018-2028
4.5.1 Compact Inverter Technology Market Size and Y-o-Y Growth
4.5.2 Compact Inverter Technology Market Absolute $ Opportunity
Chapter 5 Global Compact Inverter Technology Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Compact Inverter Technology Market Size Forecast by Type
5.2.1 Single-Phase Inverter
5.2.2 Three-Phase Inverter
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Compact Inverter Technology Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Compact Inverter Technology Market Size Forecast by Applications
6.2.1 Residential
6.2.2 Commercial
6.2.3 Industrial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Compact Inverter Technology Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Compact Inverter Technology Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Compact Inverter Technology Analysis and Forecast
9.1 Introduction
9.2 North America Compact Inverter Technology Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Compact Inverter Technology Market Size Forecast by Type
9.6.1 Single-Phase Inverter
9.6.2 Three-Phase Inverter
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Compact Inverter Technology Market Size Forecast by Applications
9.10.1 Residential
9.10.2 Commercial
9.10.3 Industrial
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Compact Inverter Technology Analysis and Forecast
10.1 Introduction
10.2 Europe Compact Inverter Technology Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Compact Inverter Technology Market Size Forecast by Type
10.6.1 Single-Phase Inverter
10.6.2 Three-Phase Inverter
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Compact Inverter Technology Market Size Forecast by Applications
10.10.1 Residential
10.10.2 Commercial
10.10.3 Industrial
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Compact Inverter Technology Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Compact Inverter Technology Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Compact Inverter Technology Market Size Forecast by Type
11.6.1 Single-Phase Inverter
11.6.2 Three-Phase Inverter
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Compact Inverter Technology Market Size Forecast by Applications
11.10.1 Residential
11.10.2 Commercial
11.10.3 Industrial
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Compact Inverter Technology Analysis and Forecast
12.1 Introduction
12.2 Latin America Compact Inverter Technology Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Compact Inverter Technology Market Size Forecast by Type
12.6.1 Single-Phase Inverter
12.6.2 Three-Phase Inverter
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Compact Inverter Technology Market Size Forecast by Applications
12.10.1 Residential
12.10.2 Commercial
12.10.3 Industrial
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Compact Inverter Technology Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Compact Inverter Technology Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Compact Inverter Technology Market Size Forecast by Type
13.6.1 Single-Phase Inverter
13.6.2 Three-Phase Inverter
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Compact Inverter Technology Market Size Forecast by Applications
13.10.1 Residential
13.10.2 Commercial
13.10.3 Industrial
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Compact Inverter Technology Market: Competitive Dashboard
14.2 Global Compact Inverter Technology Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 OMRON Corporation
14.3.2 Growatt New Energy Technology
14.3.3 Tripp Lite
14.3.4 Cobra Electronics
14.3.5 Toshiba Schneider Inverter
14.3.6 Ring Automotive Limited
14.3.7 Eaton (Cooper Bussmann)
14.3.8 Movek Group
14.3.9 Mitsubishi Electric Corporation
14.3.10 Zucchetti Centro Sistemi
14.3.11 Hitachi
14.3.12 YASKAWA Europe
14.3.13 Fuji Electric
14.3.14 Panasonic Electric
14.3.15 CE+T Power
14.3.16 Kisae Technology
14.3.17 Xantrex
14.3.18 Samlex America
14.3.19 Wagan Tech
14.3.20 PowerBright
