Market Overview:
The global power conversion system market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The market growth is attributed to the increasing demand for power conversion systems from various applications, such as power stations, industrial applications, and others. In addition, the growing demand for renewable energy sources is also contributing to the growth of the market. Based on type, the global power conversion system market can be segmented into less than 500 kW, 500 kW-1 MW and above 1 MW. The less than 500 kW segment is projected to grow at a CAGR of 6% during the forecast period. This growth can be attributed to the increasing demand for small-scale power conversion systems from various end-use industries. Based on application, the global Power Conversion System Market can be divided into three segments: Power Station; Industrial Application; Others (Marine Application). The Power Station segment accounted for majority share in 2017 and is projected grow at a CAGR of 5%. This growth can be attributed rising number of installations across developed countries such as U .S., Germany ,and Japan .
Product Definition:
A power conversion system is a device or set of devices that converts one type of electrical energy into another. The most common use for power conversion systems is to convert AC electricity into DC electricity, which is what most electronic devices require to operate. Power conversion systems are also used to convert mechanical energy into electrical energy and vice versa.
Less than 500KW:
The global L500KW power range is a niche market and it's less than 500KW power range is expected to grow at a CAGR of XX% from 2018 to 2025. The growth can be attributed to the growing demand for compact size systems, which are used in various applications such as UPS, Inverters, Generators and other electrical equipment.
500KW-1MW:
500KW-1MW is the highest power level that can be achieved using a superconducting magnetron. It is also known as the Meissner power level and named after its discoverer Hans Bethe. 500KW-1MW is approximately 10 times more powerful than a typical 1 MW nuclear plant and 100 times more powerful than an aircraft carrier’s electric motor.
Application Insights:
The power station segment accounted for the largest revenue share in 2016 and is projected to witness significant growth over the forecast period. The growing demand for electric power generated from renewable sources, such as wind and solar energy, is expected to drive the demand for GPCS systems at a rapid pace. Furthermore, government initiatives aimed at reducing carbon emissions are likely to increase GPCS system installations in coal-fired power stations across China, India and Europe.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing demand for electricity in countries, such as China and India. In 2016, China accounted for a share of more than 20% of global power consumption and India accounted for a share of about 13% globally. Thus, these countries are anticipated to witness high growth rates owing to rising population along with rapid industrialization and urbanization that is driving up energy demand across various applications including transportation, residential buildings etc.
Growth Factors:
- Increasing demand for electric vehicles: The global market for electric vehicles is expected to grow at a CAGR of more than 20% during the forecast period. This will lead to an increase in the demand for power conversion systems, as they are used in these vehicles to convert electrical energy into mechanical energy.
- Rising investments in renewable energy: Renewable sources of energy such as solar and wind are becoming increasingly popular due to their environmental benefits and falling costs. This is leading to an increase in investments in these technologies, which will drive the growth of the power conversion system market.
- Growing popularity of smart grids: Smart grids are being increasingly adopted across the world as they help reduce wastage of electricity and improve grid reliability and efficiency. This will lead to an increase in demand for power conversion systems, which are used extensively in smart grids applications.
Scope Of The Report
Report Attributes
Report Details
Report Title
Power Conversion System Market Research Report
By Type
Less than 500KW, 500KW-1MW, Above than 1MW
By Application
Power Station, Industrial Application, Others
By Companies
ABB, Nidec Corporation, Sungrow Power Supply Co.,Ltd., Johnson Controls, Parker Hannifin, Delta Electronics, Inc., HNAC Technology Co., Ltd., Destin Power Inc., Jiangsu Linyang Energy Co., Ltd., China Greatwall Technology Group Co., Ltd., Dynapower Company LLC, Shanghai Sermatec Energy Technology Co., ltd., Shenzhen Kstar Science&Technology Co.,Ltd., Soaring, TBEA, Shenzhen Sinexcel Electric Co.,Ltd.
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
163
Number of Tables & Figures
115
Customization Available
Yes, the report can be customized as per your need.
Global Power Conversion System Market Report Segments:
The global Power Conversion System market is segmented on the basis of:
Types
Less than 500KW, 500KW-1MW, Above than 1MW
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
Power Station, Industrial Application, 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
- Nidec Corporation
- Sungrow Power Supply Co.,Ltd.
- Johnson Controls
- Parker Hannifin
- Delta Electronics, Inc.
- HNAC Technology Co., Ltd.
- Destin Power Inc.
- Jiangsu Linyang Energy Co., Ltd.
- China Greatwall Technology Group Co., Ltd.
- Dynapower Company LLC
- Shanghai Sermatec Energy Technology Co., ltd.
- Shenzhen Kstar Science&Technology Co.,Ltd.
- Soaring
- TBEA
- Shenzhen Sinexcel Electric Co.,Ltd.
Highlights of The Power Conversion System 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:
- Less than 500KW
- 500KW-1MW
- Above than 1MW
- By Application:
- Power Station
- Industrial Application
- 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 Power Conversion System 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
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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 power conversion system (PCS) is a subsystem of a vehicle that converts mechanical energy from the engine into electrical energy and vice versa.
Some of the major companies in the power conversion system market are ABB, Nidec Corporation, Sungrow Power Supply Co.,Ltd., Johnson Controls, Parker Hannifin, Delta Electronics, Inc., HNAC Technology Co., Ltd., Destin Power Inc., Jiangsu Linyang Energy Co., Ltd., China Greatwall Technology Group Co., Ltd., Dynapower Company LLC, Shanghai Sermatec Energy Technology Co., ltd., Shenzhen Kstar Science&Technology Co.,Ltd., Soaring, TBEA, Shenzhen Sinexcel Electric Co.,Ltd..
The power conversion system market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Power Conversion System 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 Power Conversion System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Power Conversion System 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 Power Conversion System 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 Power Conversion System Market Size & Forecast, 2018-2028
4.5.1 Power Conversion System Market Size and Y-o-Y Growth
4.5.2 Power Conversion System Market Absolute $ Opportunity
Chapter 5 Global Power Conversion System 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 Power Conversion System Market Size Forecast by Type
5.2.1 Less than 500KW
5.2.2 500KW-1MW
5.2.3 Above than 1MW
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Power Conversion System 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 Power Conversion System Market Size Forecast by Applications
6.2.1 Power Station
6.2.2 Industrial Application
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Power Conversion System 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 Power Conversion System 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 Power Conversion System Analysis and Forecast
9.1 Introduction
9.2 North America Power Conversion System 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 Power Conversion System Market Size Forecast by Type
9.6.1 Less than 500KW
9.6.2 500KW-1MW
9.6.3 Above than 1MW
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 Power Conversion System Market Size Forecast by Applications
9.10.1 Power Station
9.10.2 Industrial Application
9.10.3 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 Power Conversion System Analysis and Forecast
10.1 Introduction
10.2 Europe Power Conversion System 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 Power Conversion System Market Size Forecast by Type
10.6.1 Less than 500KW
10.6.2 500KW-1MW
10.6.3 Above than 1MW
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 Power Conversion System Market Size Forecast by Applications
10.10.1 Power Station
10.10.2 Industrial Application
10.10.3 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 Power Conversion System Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Power Conversion System 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 Power Conversion System Market Size Forecast by Type
11.6.1 Less than 500KW
11.6.2 500KW-1MW
11.6.3 Above than 1MW
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 Power Conversion System Market Size Forecast by Applications
11.10.1 Power Station
11.10.2 Industrial Application
11.10.3 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 Power Conversion System Analysis and Forecast
12.1 Introduction
12.2 Latin America Power Conversion System 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 Power Conversion System Market Size Forecast by Type
12.6.1 Less than 500KW
12.6.2 500KW-1MW
12.6.3 Above than 1MW
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 Power Conversion System Market Size Forecast by Applications
12.10.1 Power Station
12.10.2 Industrial Application
12.10.3 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) Power Conversion System Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Power Conversion System 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) Power Conversion System Market Size Forecast by Type
13.6.1 Less than 500KW
13.6.2 500KW-1MW
13.6.3 Above than 1MW
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) Power Conversion System Market Size Forecast by Applications
13.10.1 Power Station
13.10.2 Industrial Application
13.10.3 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 Power Conversion System Market: Competitive Dashboard
14.2 Global Power Conversion System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 Nidec Corporation
14.3.3 Sungrow Power Supply Co.,Ltd.
14.3.4 Johnson Controls
14.3.5 Parker Hannifin
14.3.6 Delta Electronics, Inc.
14.3.7 HNAC Technology Co., Ltd.
14.3.8 Destin Power Inc.
14.3.9 Jiangsu Linyang Energy Co., Ltd.
14.3.10 China Greatwall Technology Group Co., Ltd.
14.3.11 Dynapower Company LLC
14.3.12 Shanghai Sermatec Energy Technology Co., ltd.
14.3.13 Shenzhen Kstar Science&Technology Co.,Ltd.
14.3.14 Soaring
14.3.15 TBEA
14.3.16 Shenzhen Sinexcel Electric Co.,Ltd.
