Global Power Inverter Market size was valued at USD 59.5 Billion in 2024 and is expected to reach USD 110.6 Billion by 2033, at a CAGR of 7.7% during the forecast period 2024 – 2033.

Global Power Inverter Market: Overview

A power inverter is an electronic device that converts direct current (DC) electricity into alternating current (AC) electricity. Power inverters are commonly used in a variety of applications, including off-grid solar power systems, recreational vehicles (RVs), boats, trucks, and backup power systems.

The prominent global trend in power inverters is the increasing adoption of renewable energy sources, particularly solar and wind power.

As countries worldwide strive to reduce their carbon footprint and transition towards sustainable energy systems, growing demand for power inverters to efficiently convert the DC electricity generated by solar panels and wind turbines into AC electricity for use in homes, businesses, and the grid.

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This trend is fueled by advancements in renewable energy technologies, declining costs of solar panels and wind turbines, and supportive government policies incentivizing clean energy adoption.

Additionally, the rise of energy storage systems, such as batteries, further complements the use of power inverters by enabling the storage and utilization of excess renewable energy during periods of low generation or high demand, contributing to a more reliable and resilient energy infrastructure worldwide.

By type, the 5 KW to 100 KW segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. A notable trend in the 5 kW to 100 kW power inverter segment is the increasing demand for advanced features such as high efficiency, compact design, grid integration capabilities, and enhanced monitoring and control functionalities.

CMI has comprehensively analyzed the Global Power Inverter market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict in depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global Power Inverter industry.

The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.

List of the prominent players in the Power Inverter Market:

• ABB Ltd
• Schneider Electric SE
• Siemens AG
• Eaton Corporation PLC
• Delta Electronics Inc.
• SMA Solar Technology AG
• Huawei Technologies Co. Ltd.
• Mitsubishi Electric Corporation
• General Electric Company
• Emerson Electric Co.
• Toshiba Corporation
• Power-One Inc.
• KACO new energy GmbH
• Omron Corporation
• Enphase Energy Inc.
• SolarEdge Technologies Inc.
• Growatt New Energy Technology Co. Ltd.
• Sungrow Power Supply Co. Ltd.
• Chint Group
• Tabuchi Electric Co. Ltd.
• Others

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