Market Overview:
The global inverter/converter market is expected to grow at a CAGR of 6.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for renewable energy sources and the growing trend of miniaturization and modularization in electronics. Inverters are used to convert direct current (DC) into alternating current (AC), while converters are used to convert AC into DC. Solar panels, fuel cells and UPS, battery storage, and others are some of the major applications of inverters/converters. In terms of type, the inverter segment is expected to dominate the global market during the forecast period owing to its wide application in various end-use industries such as solar panels, fuel cells and UPSs, battery storage systems, among others.
Product Definition:
An inverter is an electronic device that converts direct current (DC) to alternating current (AC). Alternating current is the form of electricity that powers most appliances in the home. The importance of an inverter lies in its ability to convert low-voltage DC power from a battery into high-voltage AC power required by most household appliances.
Inverter:
An inverter is an electrical device that produces alternate current when connected to a battery. The most common application of the inverter is in power tools which are used for changing the direct current (DC) from one voltage level to another. Inverters are also used in solar energy systems, battery chargers, and electric vehicles among others.
Converter:
Converter is an electronic device used to change the frequency, or in other words it converts one form of energy to another. In inverter/converter market, converters are used for converting the alternate current generated by wind and solar power into direct current that can be utilized by appliances. The main function of a converter is to step down (or boost) the high voltage DC from a source of electric power into low/high-voltage AC required by various appliances.
Application Insights:
The solar panels segment dominated the global inverter/converter market in terms of revenue in 2017. The growing demand for clean energy is propelling the growth of this application segment. Solar power has become an economical source of electricity that can provide round-the-clock clean electricity thereby replacing fossil fuels as an integral part of the energy mix with minimal environmental impact.
The fuel cell and UPS segments are anticipated to grow at a significant rate over the forecast period owing to increasing investments in R&D pertaining to electric vehicles and their supporting infrastructure across various regions globally. Increasing government support towards promoting electric vehicles along with favorable regulations aimed at reducing carbon emissions is expected to boost product demand over the forecast period.
Regional Analysis:
Asia Pacific accounted for the largest share of over 45% in 2017. The region is expected to witness significant growth owing to increasing adoption of renewable energy sources, such as solar panels and wind turbines. In addition, rising demand for battery storage systems across various applications will drive the market in Asia Pacific over the forecast period.
The European inverter/converter market is driven by stringent government regulations regarding carbon emissions and emphasis on using eco-friendly technologies across several industries. Europe has a well-established manufacturing base for both traditional as well as renewable energy generation sources, which has led to increased penetration of these devices within the regional power generation sector over the past few years.
Growth Factors:
- Increasing demand for energy-efficient devices: The global market for inverters and converters is expected to grow at a CAGR of more than 7% from 2016 to 2020. This growth can be attributed to the increasing demand for energy-efficient devices across the globe.
- Rising popularity of renewable energy sources: Renewable sources such as solar and wind power are gaining popularity due to their environmental friendliness and cost-effectiveness. Inverters and converters are essential components in these systems, thus driving the market growth.
- Growing investments in smart grid infrastructure: Governments around the world are investing heavily in smart grid infrastructure projects, which is expected to drive the market for inverters and converters significantly over the next few years.
- Proliferation of electric vehicles: With governments around the world pushing for electric vehicle adoption, there is a growing demand for inverter/converter systems that can support these vehicles’ charging needs efficiently . This will spur significant growth in this market segment over time . 5
Scope Of The Report
Report Attributes
Report Details
Report Title
Inverter/Converter Market Research Report
By Type
Inverter, Converter
By Application
Solar Panels, Fuel cells and UPS, Battery Storage, Others
By Companies
ABB, Advanced Energy, Bonfiglioli Riduttori, Eaton, Emerson Electric, Enphase Energy, Fronius International, GE, Mitsubishi Electric, Omron, ABB, Riello, Siemens
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
246
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Inverter/Converter Market Report Segments:
The global Inverter/Converter market is segmented on the basis of:
Types
Inverter, Converter
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
Solar Panels, Fuel cells and UPS, Battery Storage, Others
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:
- ABB
- Advanced Energy
- Bonfiglioli Riduttori
- Eaton
- Emerson Electric
- Enphase Energy
- Fronius International
- GE
- Mitsubishi Electric
- Omron
- ABB
- Riello
- Siemens
Highlights of The Inverter/Converter 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:
- Inverter
- Converter
- By Application:
- Solar Panels
- Fuel cells and UPS
- Battery Storage
- Others
- 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 Inverter/Converter 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?
An inverter/converter is a device that changes an alternating current (AC) into a direct current (DC).
Some of the key players operating in the inverter/converter market are ABB, Advanced Energy, Bonfiglioli Riduttori, Eaton, Emerson Electric, Enphase Energy, Fronius International, GE, Mitsubishi Electric, Omron, ABB, Riello, Siemens.
The inverter/converter 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 Inverter/Converter 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 Inverter/Converter Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Inverter/Converter 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 Inverter/Converter 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 Inverter/Converter Market Size & Forecast, 2020-2028
4.5.1 Inverter/Converter Market Size and Y-o-Y Growth
4.5.2 Inverter/Converter 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 Inverter
5.2.2 Converter
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 Solar Panels
6.2.2 Fuel cells and UPS
6.2.3 Battery Storage
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Inverter/Converter 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 Inverter/Converter 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 Inverter
9.6.2 Converter
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 Solar Panels
9.10.2 Fuel cells and UPS
9.10.3 Battery Storage
9.10.4 Others
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 Inverter
10.6.2 Converter
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 Solar Panels
10.10.2 Fuel cells and UPS
10.10.3 Battery Storage
10.10.4 Others
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 Inverter
11.6.2 Converter
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 Solar Panels
11.10.2 Fuel cells and UPS
11.10.3 Battery Storage
11.10.4 Others
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 Inverter
12.6.2 Converter
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 Solar Panels
12.10.2 Fuel cells and UPS
12.10.3 Battery Storage
12.10.4 Others
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 Inverter
13.6.2 Converter
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 Solar Panels
13.10.2 Fuel cells and UPS
13.10.3 Battery Storage
13.10.4 Others
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 Inverter/Converter Market: Competitive Dashboard
14.2 Global Inverter/Converter Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 Advanced Energy
14.3.3 Bonfiglioli Riduttori
14.3.4 Eaton
14.3.5 Emerson Electric
14.3.6 Enphase Energy
14.3.7 Fronius International
14.3.8 GE
14.3.9 Mitsubishi Electric
14.3.10 Omron
14.3.11 ABB
14.3.12 Riello
14.3.13 Siemens
