Market Overview:
The global power 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 inverters in various applications, such as car appliances, outdoor application, and others. Additionally, the growing demand for renewable energy sources is also contributing to the growth of this market. Based on type, the global power inverter market can be segmented into 12V, 24V, 48V and 48V and above segments. The 12 V segment is expected to account for a major share of the global power inverter market during the forecast period owing to its low cost and easy installation process.
Product Definition:
Power inverters are devices that convert direct current (DC) to alternating current (AC). They are commonly used in a variety of settings, including homes, vehicles and boats. Inverters can be used to power a wide range of appliances, including televisions, lights and fans.
12V:
12V is the voltage range that most of the products use to run. It is also known as V DC or V battery. 12V power inverter are widely used in solar systems, security systems, and other electronic gadgets. The usage of these devices has increased over time owing to their ability to provide higher output power with less weight and size compared to 24V products which makes them more suitable for various applications such as portable electronics, emergency lighting system etc.
24V:
The 24V power inverter is used to convert the low voltage DC electricity into high voltage AC electricity. The normal range of commercial and industrial power sources provides a range of 12-24 volts. In order to provide higher voltages (up to 48V) an additional step up/step down transformer is required, generally known as a multi-phase pluggable Transformer (MTP).
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 inverter technology has been witnessing significant adoption in various other appliances such as household, office and industrial applications. In addition, it is also used in power tools for outdoor applications owing to its small size, lightweight properties and high efficiency.
The outdoor application segment is expected to register a CAGR of XX% from 2018 to 2030 owing to increasing demand from construction industry equipment such as electric saws, nail guns and drills among others. Moreover, the technology offers enhanced performance at lower costs which will further drive its demand over the forecast period. Increasing investments by governments across various regions are likely to boost renewable energy generation including solar photovoltaic systems which will further propel market growth over the coming years.
Regional Analysis:
Asia Pacific region accounted for the largest market share in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing industrialization, rising disposable income of consumers, and government support for manufacturing activities. China is one of the major countries investing heavily in power inverter production as well as consumption. For instance, SEGWAY INC., a U.S.-based company has entered into a partnership with XINDAI ELECTRONIC CO., LTD., headquartered in Chongqing, China to produce solar-powered electric scooters under brand name ‘WALKMOBILE’ These electric scooters are manufactured using power inverters based on renewable energy source such as solar panels or batteries thus reducing carbon emission by 80%.
Europe was another significant regional segment that accounted for more than 20% revenue share in 2017 owing to growing demand from several end-use industries including transportation.
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 inverters, as they are used in electric vehicles to convert direct current (DC) into alternating current (AC).
- Rising demand from renewable energy sector: The global renewable energy market is expected to grow at a CAGR of more than 15% during the forecast period. This will lead to an increase in the demand for power inverters, as they are used in renewable energy systems to convert DC into AC.
- Growing popularity of solar PV systems: Solar photovoltaic (PV) systems are becoming increasingly popular due to their low cost and environmental benefits. This is driving the growth of the global solar PV market, which is projected to grow at a CAGR of more than 20% during the forecast period. Power inverters are essential components of solar PV systems and will therefore experience high growth rates over this period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Power Inverter Market Research Report
By Type
12V, 24V, 48V, 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
236
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Power Inverter Market Report Segments:
The global Power Inverter market is segmented on the basis of:
Types
12V, 24V, 48V, 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 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
- 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 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 inverter is a device that converts direct current (DC) into alternating current (AC). This is useful when you need to use an AC outlet in a place where there are only DC outlets.
Some of the major companies in the power 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 inverter market is expected to grow at a compound annual growth rate of 6.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Power 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 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 Inverter Market - Supply Chain
4.5. Global Power Inverter Market Forecast
4.5.1. Power Inverter Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Power Inverter Market Size (000 Units) and Y-o-Y Growth
4.5.3. Power Inverter Market Absolute $ Opportunity
5. Global Power 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 Inverter Market Size and Volume Forecast by Type
5.3.1. 12V
5.3.2. 24V
5.3.3. 48V
5.3.4. 48V and above
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Power 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 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 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 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 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 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 Inverter Demand Share Forecast, 2019-2029
9. North America Power 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 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 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 Inverter Market Size and Volume Forecast by Type
9.7.1. 12V
9.7.2. 24V
9.7.3. 48V
9.7.4. 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 Inverter Demand Share Forecast, 2019-2029
10. Latin America Power 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 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 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 Inverter Market Size and Volume Forecast by Type
10.7.1. 12V
10.7.2. 24V
10.7.3. 48V
10.7.4. 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 Inverter Demand Share Forecast, 2019-2029
11. Europe Power 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 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 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 Inverter Market Size and Volume Forecast by Type
11.7.1. 12V
11.7.2. 24V
11.7.3. 48V
11.7.4. 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 Inverter Demand Share, 2019-2029
12. Asia Pacific Power 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 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 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 Inverter Market Size and Volume Forecast by Type
12.7.1. 12V
12.7.2. 24V
12.7.3. 48V
12.7.4. 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 Inverter Demand Share, 2019-2029
13. Middle East & Africa Power 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 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 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 Inverter Market Size and Volume Forecast by Type
13.7.1. 12V
13.7.2. 24V
13.7.3. 48V
13.7.4. 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 Inverter Demand Share, 2019-2029
14. Competition Landscape
14.1. Global Power Inverter Market: Market Share Analysis
14.2. Power Inverter Distributors and Customers
14.3. Power 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
