Inverter Market Share Will Grow to USD 52.90 Billion By 2030, at 15.8% CAGR, According to Polaris Market Research

The global inverter market size is expected to reach USD 52.90 billion by 2030, according to a new study by Polaris Market Research.

Get an exclusive sample PDF report of Inverter Market @ https://www.polarismarketresearch.com/industry-analysis/inverter-market/request-for-sample

Manufacturers aim to design inverters that are cost-efficient and lightweight. Automobile manufacturers are investing in the creation of new technologies and expanding their production capabilities to meet the demand created by the surge in sales of electric vehicles. Therefore, demand for power inverters is expected to increase simultaneously with the growth in the trend of hybrid and electric vehicle sales around the globe during the forecast period.

The significant growth rate in the renewable energy sector is expected to drive the growth of the market during the forecast period. Asia-Pacific has registered the highest growth rate and market share in renewable energy, owing to the increase in investment in renewable energy projects along with increased capacity and utilization.

Emerging economies such as China, India, Japan, South Korea, and Brazil are the fastest growing economies, which are engaged in investing in the electrification of remote and rural areas. An increase in population and massive urbanization are the primary drivers for the increase in the electrification rate, which fuels the demand for solar energy in these countries, thereby driving the growth of the industry.

Countries such as India, Nepal, and others in Asia-Pacific registered the highest electrification growth rates in the past five years with the help of on-grid and off-grid system solutions. An increase in solar inverter demand from emerging economies is expected to provide potential opportunities for industry expansion during the forecast period.

Customize this report according to your requirements @ https://www.polarismarketresearch.com/industry-analysis/inverter-market/request-for-customization

Inverter Market Report Highlights
• The vehicle inverter segment is expected to be the fastest growing during the forecast period. This is due to the surge in demand for high efficiency and high-power density products for longer battery life and compactness
• On-grid segment accounted for the largest revenue share owing to easy feeding of energy, cost-efficiency, and high electricity requirement
• By phase, the market is categorized single phase, and three phase. The single-phase segment is expected to be the fastest growing segment during the forecast period on account of greater application in residential & small commercial applications
• Residential segment accounted for the largest revenue share. Rise in demand for the industry to energize home appliances such as lights and pumps drives the growth of this segment
• Asia-Pacific region will lead the global market by 2030. This is due to rise in need for continuous and stable power supply to address greater requirement of increasing population
• The global market is highly competitive owing to the existence of large industry players with global presence including Aptiv PLC, Changsha BYD, Continental AG, Delta Electronics, Inc., DENSO Corporation, FIMER S.P.A, and Hitachi Astemo Ltd.

Inquire To Know Additional List of Market Players Included, Request Here @ https://www.polarismarketresearch.com/industry-analysis/inverter-market/inquire-before-buying

Polaris Market Research has segmented the inverter market report based on based on type, connection type, phase, end-use, and region.

Inverter, Type Outlook (Revenue - USD Billion, 2018 - 2030)
• Vehicle
• Solar
• Others

Inverter, Connection Type Outlook (Revenue - USD Billion, 2018 - 2030)
• On grid
• Off-grid

Inverter, Phase Outlook (Revenue - USD Billion, 2018 - 2030)
• Single Phase
• Three Phase

Inverter, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
• Commercial
• Residential
• Industrial

Browse detailed report with in-depth TOC @ https://www.polarismarketresearch.com/industry-analysis/inverter-market

Contact Us:
Polaris Market Research
Email: sales@polarismarketresearch.com
Ph: +1-929 297-9727

About Us:
Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

This release was published on openPR.