Market Overview:
The global digital inverter market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for renewable energy sources, such as solar and wind power, across the globe. In addition, the growing awareness about the benefits of using digital inverters is also contributing to the growth of this market. The global digital inverter market can be segmented on the basis of type into central inverters, string inverters, and microinverters. Central inverters are expected to account for a major share of this market in 2018 owing to their high efficiency and low cost as compared to other types of digital inverters.
Product Definition:
A digital inverter is a device that converts direct current (DC) to alternating current (AC). It is used to power devices that require AC power, such as televisions and computers. The importance of a digital inverter lies in its ability to provide clean, consistent power without the risk of voltage fluctuations or surges.
Central Inverter:
The global Central Inverter market size was valued at USD 2.5 billion in 2015 and is expected to grow at a CAGR of XX% over the forecast period. The growing demand for renewable energy, mainly from Asia Pacific countries such as China and India, is one of the key factors driving growth in this industry.
String Inverter:
A string inverter is a power electronic device used in an electric generator to convert the rotating electrical energy into mechanical energy. String inverters are mainly used in diesel-electric power plants, where they help in converting the engine’s rotary motion into stationary electricity. Inverter manufacturers use various terms to define different types of products such as string, multi-string and polyphase, etc.
Application Insights:
The utilities application segment led the global digital inverter market in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing demand for power generation from renewable sources such as wind and solar energy. Moreover, growing investments in various countries for enhancing grid infrastructure are expected to drive the industry growth over the coming years.
The commercial sector comprises companies offering products based on their requirements or customized solutions according to customer needs and specifications.
Regional Analysis:
The Asia Pacific regional market accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing adoption of solar energy in countries, such as China and India. In addition, growing investments by governments of developing economies are anticipated to drive demand for DII inverters over the next eight years. For instance, InverterMax has been awarded with a distinction on Energy Conservation Award 2013 by Chinese Government for its innovation in string inverter technology that reduces consumption of energy and increases efficiency.
North America region is projected to witness significant growth from 2018 to 2030 owing to rising installations of commercial buildings especially hotels & restaurants across U.S.
Growth Factors:
- Increasing demand for energy-efficient appliances: The global market for digital inverters is expected to grow at a CAGR of more than 9% from 2016 to 2020. One of the key factors driving this growth is the increasing demand for energy-efficient appliances, especially in developed countries such as the US and Europe. Inverters are becoming an integral part of these appliances as they help save energy by optimizing power consumption.
- Rising awareness about renewable energy sources: Another major factor driving the growth of digital inverters is the rising awareness about renewable energy sources, such as solar and wind power. Inverters play an important role in harnessing these forms of renewable energy and converting them into usable electrical current form homes and businesses alike. This is helping to drive down costs associated with using renewables, thereby boosting their adoption rates worldwide.
Scope Of The Report
Report Attributes
Report Details
Report Title
Digital Inverter Market Research Report
By Type
Central Inverter, String Inverter, Micro Inverter
By Application
Utilities, Commercial, Residential
By Companies
Eaton, Schneider, Siemens, ABB, GE, Enphase Energy, SMA, Vertiv, Leopold Kostal, Growatt New Energy, Eaton
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
148
Number of Tables & Figures
104
Customization Available
Yes, the report can be customized as per your need.
Global Digital Inverter Market Report Segments:
The global Digital Inverter market is segmented on the basis of:
Types
Central Inverter, String Inverter, Micro 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
Utilities, Commercial, Residential
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:
- Eaton
- Schneider
- Siemens
- ABB
- GE
- Enphase Energy
- SMA
- Vertiv
- Leopold Kostal
- Growatt New Energy
- Eaton
Highlights of The Digital Inverter 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:
- Central Inverter
- String Inverter
- Micro Inverter
- By Application:
- Utilities
- Commercial
- Residential
- 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 Digital Inverter 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?
A digital inverter is a device that converts direct current (DC) to alternating current (AC).
Some of the major companies in the digital inverter market are Eaton, Schneider, Siemens, ABB, GE, Enphase Energy, SMA, Vertiv, Leopold Kostal, Growatt New Energy, Eaton.
The digital inverter market is expected to grow at a compound annual growth rate of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Digital Inverter 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 Digital Inverter Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Digital Inverter 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 Digital Inverter 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 Digital Inverter Market Size & Forecast, 2020-2028
4.5.1 Digital Inverter Market Size and Y-o-Y Growth
4.5.2 Digital Inverter Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 Central Inverter
5.2.2 String Inverter
5.2.3 Micro Inverter
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Utilities
6.2.2 Commercial
6.2.3 Residential
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Digital Inverter 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 Digital Inverter 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 Central Inverter
9.6.2 String Inverter
9.6.3 Micro 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 Market Size Forecast by Applications
9.10.1 Utilities
9.10.2 Commercial
9.10.3 Residential
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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 Central Inverter
10.6.2 String Inverter
10.6.3 Micro 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 Market Size Forecast by Applications
10.10.1 Utilities
10.10.2 Commercial
10.10.3 Residential
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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 Central Inverter
11.6.2 String Inverter
11.6.3 Micro 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 Market Size Forecast by Applications
11.10.1 Utilities
11.10.2 Commercial
11.10.3 Residential
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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 Central Inverter
12.6.2 String Inverter
12.6.3 Micro 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 Market Size Forecast by Applications
12.10.1 Utilities
12.10.2 Commercial
12.10.3 Residential
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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 Central Inverter
13.6.2 String Inverter
13.6.3 Micro 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) Market Size Forecast by Applications
13.10.1 Utilities
13.10.2 Commercial
13.10.3 Residential
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 Digital Inverter Market: Competitive Dashboard
14.2 Global Digital Inverter Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Eaton
14.3.2 Schneider
14.3.3 Siemens
14.3.4 ABB
14.3.5 GE
14.3.6 Enphase Energy
14.3.7 SMA
14.3.8 Vertiv
14.3.9 Leopold Kostal
14.3.10 Growatt New Energy
14.3.11 Eaton
