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Inverter Market Size, Share Analysis, Growth And Industry Forecast 2023-2032
Inverter Market Report
Inverter Market Size, Growth Rate, And Forecast:
The global inverter market size is expected to grow from $14.63 billion in 2022 to $17.45 billion in 2023, at a compound annual growth rate (CAGR) of 19.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The inverter market size is expected to grow to $32.33 million in 2027 at a CAGR of 16.7%.
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Inverter Market Drivers:
The growing demand for electric vehicles (EVs) is expected to propel the growth of the inverter market going forward. Electric vehicles are vehicles that consist of a motor that is powered by electricity stored in batteries and that operates on electric motors and charges its batteries with electricity rather than utilizing fossil fuels. An inverter is used in an EV that changes the speed at which the motor rotates by adjusting the frequency of the alternating current.
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Inverter Market Segments
•By Inverter Type: Solar Inverter, Vehicle Inverter, Other Types
•By Connection Type: On-Grid, Off-Grid
•By Phase: Single Phase, Three Phase
•By Sales Channel: Direct, Indirect
•By End-User: Residential, Industrial, Commercial
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the inverter market.
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Inverter Market Key Players:
Major competitors in the inverter market include Huawei Technologies Co. Ltd., Sungrow Power Supply Co. Ltd., SMA Solar Technology AG, OMRON Corporation, Schneider Electric SE, Sunpower Corporation, Fronius International GmbH, Altenergy Power System Inc., Enphase Energy, Darfon Electronics Corporation, Delta Electronics Inc., Solar Edge Technologies, Tabuchi Electric Co. Ltd., and Bongfiglioli Transmission Pvt. Ltd.
The Business Research Company's "Global Inverter Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Inverter Market Include:
1. Executive Summary
2. Inverter Market Characteristics
3. Inverter Market Trends And Strategies
4. Inverter Market - Macro Economic Scenario
5. Inverter Market Size And Growth
....
26. Africa Inverter Market
27. Inverter Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Inverter Market
29. Inverter Market Future Outlook and Potential Analysis
30. Appendix
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