Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Power Converter/Inverter Market by Type (12V, 24V, 48V and Above), By Application (Car Appliances, Outdoor Application, Others) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Power Converter/Inverter Market by Type (12V, 24V, 48V and Above), By Application (Car Appliances, Outdoor Application, Others) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 137873 3300 Energy & Power 377 242 Pages 4.6 (49)

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.

Global Power Converter/Inverter Industry Outlook

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 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.


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


Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year


Number of Pages


Number of Tables & Figures


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:


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.


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:

  1. Bestek
  2. NFA
  3. Cobra
  4. Kisae Technology
  5. Rally
  6. Energizer
  7. Duracell
  8. Meind
  9. Stanley
  10. Exeltech
  11. Cotek
  12. Samlex
  13. Power Bright
  14. Go Power
  15. Wagan Tech
  16. Magnum Energy
  17. WEHO
  18. Erayak

Global Power Converter/Inverter Market Overview

Highlights of The Power Converter/Inverter Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. 12V
    2. 24V
    3. 48V and Above
  1. By Application:

    1. Car Appliances
    2. Outdoor Application
    3. Others
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. 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

Global Power Converter/Inverter Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. 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 Overview Financials Developments Strategic Outlook
      14.4.2. NFA Overview Financials Developments Strategic Outlook
      14.4.3. Cobra Overview Financials Developments Strategic Outlook
      14.4.4. Kisae Technology Overview Financials Developments Strategic Outlook
      14.4.5. Rally Overview Financials Developments Strategic Outlook
      14.4.6. Energizer Overview Financials Developments Strategic Outlook
      14.4.7. Duracell Overview Financials Developments Strategic Outlook
      14.4.8. Meind Overview Financials Developments Strategic Outlook
      14.4.9. Stanley Overview Financials Developments Strategic Outlook
      14.4.10. Exeltech Overview Financials Developments Strategic Outlook
      14.4.11. Cotek Overview Financials Developments Strategic Outlook
      14.4.12. Samlex Overview Financials Developments Strategic Outlook
      14.4.13. Power Bright Overview Financials Developments Strategic Outlook
      14.4.14. Go Power Overview Financials Developments Strategic Outlook
      14.4.15. Wagan Tech Overview Financials Developments Strategic Outlook
      14.4.16. Magnum Energy Overview Financials Developments Strategic Outlook
      14.4.17. WEHO Overview Financials Developments Strategic Outlook
      14.4.18. Erayak Overview Financials Developments Strategic Outlook
      14.4.19. COMPANY 19 Overview Financials Developments Strategic Outlook
      14.4.20. COMPANY 20 Overview Financials Developments Strategic Outlook

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