CHICAGO, Feb. 13, 2020 /PRNewswire/ -- According to the new market research report "Inverter Market by Type (Solar Inverters, Non-solar Inverters), Output Power Rating, Output Voltage, Sales Channel (Direct, Indirect), End User (PV Plants, Residential, Commercial, Automotive), and Geography - Global Forecast to 2025", published by MarketsandMarkets, the Inverter Market is projected to grow from USD 12.8 billion in 2020 to USD 26.5 billion by 2025; it is expected to grow at a CAGR of 15.6% from 2020 to 2025. The inverter market is likely to exhibit lucrative growth potential during the forecast period. The growth of the inverter market is expected to be driven by rising number of residential solar rooftop installations and surging demand for various household devices in vehicles. The market also has several opportunities that can be explored by existing and entry-level companies to expand their businesses.
Ask for PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=263171818
The non-solar inverters segment of the inverter market is projected to grow at a higher CAGR than the solar inverters segment during the forecast period.
The growth of this segment can be attributed to the introduction of hybrid electric and electric vehicles that has brought new opportunities and challenges in the power electronics industry, especially in terms of the development of the main traction motor drives. The multilevel inverter structure allows these vehicles to reach to high voltages and power levels without using transformers. Moreover, limited installation spaces have also led to the requirement for energy-efficient inverters.
Among end users, the residential segment held the largest share of the inverter market in 2019.
Rising energy costs, coupled with supportive government policies worldwide, have led to the increasing adoption of energy conservation measures such as solar rooftop PV installations for controlling the increased energy expenditure in residential applications. Countries such as the US, Australia, and the Netherlands, which are among the prominent markets for residential rooftop PV installations, have widely adopted solar inverters over conventional non-solar inverters. In addition, countries such as India, Mexico, the UK, and Brazil are currently witnessing significant growth in the residential solar energy market.
Browse in-depth TOC on "Inverter Market"
110 - Tables
62 - Figures
179 - Pages
Inquiry Before Buying:
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=263171818
"The solar inverter market in APAC projected to grow at the highest growth rate during the forecast period.
In APAC, several operational solar inverter installations are carried out for residential, commercial, and PV power plant applications. Japan and Australia are major adopters of solar inverters, especially micro inverters in APAC. Moreover, the rise in the number of residential rooftop solar PV installations in India and Japan is encouraging inverter manufacturers to cater to the requirements of potential customers in this region.
Huawei Technologies (China), Sungrow Power Supply (China), SMA Solar Technology (Germany), Power Electronics (Spain), and ABB (Switzerland) are the major players operating in the inverter market.
Please Explore Relevant Report:
Micro-Inverter Market by Component (Hardware, Software, and Services), Type (Single Phase and Three Phase), Communication Technology, Sales Channel, Application (Residential, Commercial, and PV Power Plant), and Geography - Global Forecast to 2023
About MarketsandMarkets
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Sanjay Gupta
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/inverter-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source : https://www.marketsandmarkets.com/PressReleases/inverter.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
