Market Overview:
The global power converter/inverter 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 power converters/inverters in various applications, such as car appliances, outdoor application, and others. Additionally, the growing awareness about energy conservation is also propelling the growth of this market.
Product Definition:
A power converter/inverter is a device that converts one type of electrical energy to another. The most common use for power converters/inverters is to convert direct current (DC) to alternating current (AC), but they can also be used to convert AC to DC or even create different voltages. Power converters/inverters are important because they allow devices that run on one type of energy, such as batteries, to run on another type of energy, such as the electricity from a wall outlet.
12V:
12V is the voltage range that most of the devices work on. It is also known as V DC or VDC. 12V power source is widely used in electronic equipment such as laptops, cell phones, digital cameras, portable gaming systems and some other home appliances like vacuum cleaners and iron & boards etc.
24V:
The 24V power is used in the range of 0.1 to 300 A and it can be utilized for various applications such as electric vehicles, hybrid automobiles, forklifts, industrial machinery and equipment operating at a voltage range of 20-300 V. The increasing adoption rate of electric vehicles along with rising demand for hybrid automobiles is expected to drive the market over the forecast period.
Application Insights:
The car appliances segment accounted for the largest revenue share in 2017 and is anticipated to continue its dominance over the forecast period. The growing automotive industry, especially in countries such as China, Japan and South Korea is expected to drive demand for these products. In addition, government initiatives promoting electric vehicles are further likely to propel market growth over the coming years.
The outdoor application segment was valued at USD 544.5 million in 2017 owing to increasing use of power converters/inverters in industrial applications across various end-use industries such as oil & gas and construction among others which require clean electricity supply with high durability and long-distance transmission capability.
Regional Analysis:
Asia Pacific is expected to be the largest regional market over the forecast period owing to increasing demand for power inverters from various end-use industries. The region accounted for a share of more than 35% in 2017 and is estimated to grow at a CAGR of XX% from 2018 to 2030. Increasing industrialization, rapid urbanization, and growing consumer electronics industry are some major factors driving regional growth.
The Asia Pacific was followed by Europe that accounted for around 28% of global revenue in 2017 due to high demand from several end-use applications such as automotive, household appliances, data centers among others. In addition European countries like Germany have been witnessing increased adoption rates of power converters/inverters owing to strict regulations regarding carbon emission in automobile industry which has led towards higher adoption rate especially with 24V DC models across all segments including heavy commercial vehicles (HVVs) and passenger cars (PCVs).
Growth Factors:
- Increasing demand for electric vehicles
- Rapid growth of renewable energy sources
- Rising demand from the telecommunications and data center sectors
- Proliferation of smart grid technologies
- Growing popularity of microgrids
Scope Of The Report
Report Attributes
Report Details
Report Title
Power Converter/Inverter Market Research Report
By Type
12V, 24V, 48V and Above
By Application
Car Appliances, Outdoor Application, Others
By Companies
Bestek, NFA, Cobra, Kisae Technology, Rally, Energizer, Duracell, Meind, Stanley, Exeltech, Cotek, Samlex, Power Bright, Go Power, Wagan Tech, Magnum Energy, WEHO, Erayak
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
242
Number of Tables & Figures
170
Customization Available
Yes, the report can be customized as per your need.
Global Power Converter/Inverter Market Report Segments:
The global Power Converter/Inverter market is segmented on the basis of:
Types
12V, 24V, 48V and Above
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
Car Appliances, Outdoor 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:
- Bestek
- NFA
- Cobra
- Kisae Technology
- Rally
- Energizer
- Duracell
- Meind
- Stanley
- Exeltech
- Cotek
- Samlex
- Power Bright
- Go Power
- Wagan Tech
- Magnum Energy
- WEHO
- Erayak
Highlights of The Power Converter/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:
- 12V
- 24V
- 48V and Above
- By Application:
- Car Appliances
- Outdoor 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 Converter/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 power converter/inverter is a device that converts AC (alternating current) to DC (direct current) or vice versa. It can also be used to increase the output of an electrical system, by reducing its input voltage.
Some of the key players operating in the power converter/inverter market are Bestek, NFA, Cobra, Kisae Technology, Rally, Energizer, Duracell, Meind, Stanley, Exeltech, Cotek, Samlex, Power Bright, Go Power, Wagan Tech, Magnum Energy, WEHO, Erayak.
The power converter/inverter market is expected to register a CAGR of 6.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Power Converter/Inverter Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Power Converter/Inverter Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Power Converter/Inverter Market - Supply Chain
4.5. Global Power Converter/Inverter Market Forecast
4.5.1. Power Converter/Inverter Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Power Converter/Inverter Market Size (000 Units) and Y-o-Y Growth
4.5.3. Power Converter/Inverter Market Absolute $ Opportunity
5. Global Power Converter/Inverter Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Power Converter/Inverter Market Size and Volume Forecast by Type
5.3.1. 12V
5.3.2. 24V
5.3.3. 48V and Above
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Power Converter/Inverter Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Power Converter/Inverter Market Size and Volume Forecast by Application
6.3.1. Car Appliances
6.3.2. Outdoor Application
6.3.3. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Power Converter/Inverter Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Power Converter/Inverter Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Power Converter/Inverter Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Power Converter/Inverter Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Power Converter/Inverter Demand Share Forecast, 2019-2029
9. North America Power Converter/Inverter Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Power Converter/Inverter Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Power Converter/Inverter Market Size and Volume Forecast by Application
9.4.1. Car Appliances
9.4.2. Outdoor Application
9.4.3. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Power Converter/Inverter Market Size and Volume Forecast by Type
9.7.1. 12V
9.7.2. 24V
9.7.3. 48V and Above
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Power Converter/Inverter Demand Share Forecast, 2019-2029
10. Latin America Power Converter/Inverter Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Power Converter/Inverter Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Power Converter/Inverter Market Size and Volume Forecast by Application
10.4.1. Car Appliances
10.4.2. Outdoor Application
10.4.3. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Power Converter/Inverter Market Size and Volume Forecast by Type
10.7.1. 12V
10.7.2. 24V
10.7.3. 48V and Above
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Power Converter/Inverter Demand Share Forecast, 2019-2029
11. Europe Power Converter/Inverter Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Power Converter/Inverter Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Power Converter/Inverter Market Size and Volume Forecast by Application
11.4.1. Car Appliances
11.4.2. Outdoor Application
11.4.3. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Power Converter/Inverter Market Size and Volume Forecast by Type
11.7.1. 12V
11.7.2. 24V
11.7.3. 48V and Above
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Power Converter/Inverter Demand Share, 2019-2029
12. Asia Pacific Power Converter/Inverter Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Power Converter/Inverter Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Power Converter/Inverter Market Size and Volume Forecast by Application
12.4.1. Car Appliances
12.4.2. Outdoor Application
12.4.3. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Power Converter/Inverter Market Size and Volume Forecast by Type
12.7.1. 12V
12.7.2. 24V
12.7.3. 48V and Above
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Power Converter/Inverter Demand Share, 2019-2029
13. Middle East & Africa Power Converter/Inverter Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Power Converter/Inverter Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Power Converter/Inverter Market Size and Volume Forecast by Application
13.4.1. Car Appliances
13.4.2. Outdoor Application
13.4.3. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Power Converter/Inverter Market Size and Volume Forecast by Type
13.7.1. 12V
13.7.2. 24V
13.7.3. 48V and Above
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Power Converter/Inverter Demand Share, 2019-2029
14. Competition Landscape
14.1. Global Power Converter/Inverter Market: Market Share Analysis
14.2. Power Converter/Inverter Distributors and Customers
14.3. Power Converter/Inverter Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Bestek
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. NFA
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Cobra
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Kisae Technology
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Rally
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Energizer
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Duracell
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Meind
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Stanley
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Exeltech
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Cotek
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Samlex
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Power Bright
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Go Power
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Wagan Tech
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Magnum Energy
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. WEHO
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Erayak
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
