Transition to Sustainable Energy Sources Propels Power Inverter Market Growth
An electric circuit that converts direct current to alternating current is known as a power inverter. The frequency, power, input, and output depend on the design of the electric circuit. As compared to the generator, the power inverter is the low-cost operator and is convenient for the usage of change-over switches. Because of these characteristics, power inverters are used in many tools, electric products, and many household appliances. As per consumer needs, power inverters are available in many types and power ranges. Power inverters are used in residential, commercial, and industrial usage. The application of a power inverter is a motor drive, rail traction, wind turbines, electric vehicles, and solar PV.The power inverter market size was valued at $68.2 billion in 2021, and the power inverter industry is estimated to reach $112.7 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐จ๐ซ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ : https://www.alliedmarketresearch.com/request-sample/12443
Increasing utilization of many electronic gadgets such as laptops, refrigerators, air conditioners, and televisions how increased the demand for uninterrupted power supply, and this will boost the growth of the power inverter market. Schools, corporate offices, and commercial places have a high demand for uninterrupted power supply hence there is an increase in demand for power inverters as an alternate backup solution. In addition, the increase in rural electrification and urbanization in the Asia-Pacific region stimulates the growth of the power inverter market. Furthermore, the presence of a gradual shift from conventional vehicles to electric vehicles in the transportation sector has increased the demand for electric motors which has a positive impact on the power inverter market growth.
The rise in the utilization of renewable energy resources such as solar and wind power has led to an increase in demand for various electronic equipment used in the construction of renewable power plants. The increase in awareness among the people regarding the environment has a significant impact on the development of renewable energy resources, as we can see there is a gradual increase in investment toward the construction of solar and wind power plants across the globe. In addition, most of the developed and developing countries such as the U.S., Germany, China, India, the UK, and others, have taken initiatives to move toward zero carbon emission by 2050. The above-mentioned initiatives and investments have boosted the demand for the power inverter market opportunities.
๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ: https://www.alliedmarketresearch.com/power-inverter-market-A12078
The high-voltage functioning of power inverters might possibly pose a fire danger. Equipment that isn't rated for the necessary current may heat up to the point where it melts or catches fire. The battery's combustible component may be set on fire utilizing the stored energy. The demand for electric vehicles has significantly increased in developing countries like India in recent years, especially in 2021-2022. However, there is a lack of infrastructure and knowledge about the use of electric vehicles, which has led to severe fire threats. Despite an increase in the usage of power inverters in the transportation industry, power production, and several other industries, there are still obstacles that would hinder the market's expansion.
๐๐จ๐ฆ๐ฉ๐๐ญ๐ข๐ญ๐ข๐ฏ๐ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
The Power Inverter industry's key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.
๐๐จ๐ฆ๐ ๐จ๐ ๐ญ๐ก๐ ๐ฆ๐๐ฃ๐จ๐ซ ๐ค๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐ ๐ฅ๐จ๐๐๐ฅ ๐๐จ๐ฐ๐๐ซ ๐๐ง๐ฏ๐๐ซ๐ญ๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐ข๐ง๐๐ฅ๐ฎ๐๐,
Huawei Technologies Co., Ltd.
SMA Solar Technology ag
Toshiba Mitsubishi Electric Industrial Systems Corporation
ABB Ltd.
Enphase Energy, Inc.
Omron Corporation
Sungrow Power Supply Co., Ltd
Advanced Energy Industries, Inc.
SolarEdge Technologies
Schneider Electric
In May 2021, Robert Bosch, in association with Porsche and Fraunhofer Institute for Reliability and Micro integration (Fraunhofer IZM) in Berlin, announced a new project aimed at increasing the range of electric vehicles (EVs) by enhancing the performance of power inverters in vehicles. In May 2022, Toyota Group revealed plans to invest $624 million in India to manufacture electric vehicle components. The presence of the above-mentioned trends and investments for the development of electric vehicles have a significant impact on the development of the power inverter market.
๐๐ซ๐๐ฌ๐ฌ ๐๐๐ฅ๐๐๐ฌ๐: https://www.alliedmarketresearch.com/press-release/power-inverter-market.html
The global power inverter market forecast is segmented on the basis of type, application, end use, and region. On the basis of type, the market is segmented into less than 5KW, 5 KW to 100 KW, 100 KW to 500 KW, and more than 500 KW. On the basis of application, the market is segmented into motor drives, wind turbines, rail traction, electric vehicle, UPS, solar PV, and others. In addition, on the basis of end use, the market is segmented into residential, commercial and industrial, and utility. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest share of the market, followed by Asia-Pacific Europe, and LAMEA.
The 5 KW to 100 KW segment dominates the global power inverter market. 5 KW to 100 KW power inverters are primarily used in electric vehicles, and rail traction. An Electric car requires around 30 KW of energy to drive around 100 miles, hence the electric vehicles launched in 2022 provide around 400 miles which require about 100 KW of electricity. The utilization of 100 KW of electricity in electric vehicles will boost the demand for power inverters.
The motor drives segment dominates the global Power inverter market. Motor drives refer to a drive used to control a motor and therefore, gets interchanged with VFD or VSD. A Variable Frequency Drive (VFD) or Variable Speed Drive (VSD) describes the electronic portion of the system that controls the speed of the motor. More generally, the term drive describes equipment used to control the speed of machinery.
The utility segment dominates the global power inverter market. Utilities have gained importance in solar power generation for feeding main grid sources and also in off-grid connections in remote and rural areas. Thus, there is an increase in the demand for power inverters in utility-scale solar and wind power projects.
North America segment dominated the global Power inverter market. North America represents one of the largest markets for power inverters accounting for several initiatives for energy conservation by switching to sustainable energy sources. In addition to this, various regulatory measures, in order to reduce the carbon footprints have boosted the sales of power inverters in the region. Increasing infrastructural advancements across the region will continue to spur demand in the upcoming years.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/12443
๐๐๐ฒ ๐๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐ฌ๐ญ๐ฎ๐๐ฒ:
- As per power inverter market analysis, region wise, North America holds a dominant position in 2021 and will continue to maintain the lead over the forecast period.
- By type, 5 KW to 100 KW segment for the largest power inverter market share in 2021.
- By application, the motor drives segment was the leading segment in 2021.
- By end use, the utility segment for the largest market share in 2021.
๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ฌ:
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Transition to Sustainable Energy Sources Propels Power Inverter Market Growth here
News-ID: 3279011 • Views: โฆ
More Releases from Allied Market Research
Fan Market is Poised to Surpass US$ 16.9 Billion by 2031, Showcasing a CAGR of 4 โฆ
According to a new report published by Allied Market Research, titled, "Fan Market by Product Type, by End User, by Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2022-2031". The report offers an exhaustive examination of prime investment opportunities, successful strategies, key drivers, potential openings, market size projections, competitive dynamics, and evolving market trends.
Download Sample Report @https://www.alliedmarketresearch.com/request-sample/12770
Innovations in fan technology, such as energy-efficient designs, smart features, and improved materials, canโฆ
Cosmetics Face Serum Market Share Reach US$ 5.6 Billion by 2031, Key Factors Beh โฆ
According to a new report published by Allied Market Research, titled, "Cosmetics Face Serum Market by Product Type, by Price Point, by Gender, by Application, by Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031". The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends. The global cosmetics face serum market size wasโฆ
MICE Industry to See Stunning Growth: $2,309.4 Billion with a CAGR of 11.6% From โฆ
According to a new report published by Allied Market Research, titled, "MICE Industry by Event Type (Meeting, Incentive, Conventions, and Exhibitions): Global Opportunity Analysis and Industry Forecast 2021-2031 Market," The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Download Sample Report @https://www.alliedmarketresearch.com/request-sample/2433
Social media is very influential on society in both positive and negativeโฆ
Pet Training Services Market Share Reach US$ 6.84 Billion by 2031, Key Factors B โฆ
According to a new report published by Allied Market Research, titled, "Pet Training Services Market by Pet Type, by Purpose, by Branch, by Training Method: Global Opportunity Analysis and Industry Forecast, 2021-2031". The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends. The global pet training services market size was valued at $3.83โฆ
More Releases for Power
Japan Power Market Outlook to 2030, Update 2018 โ The Kansai Electric Power, C โฆ
Japan Power Market
This report elaborates Japan's power market structure and provides historical and forecast numbers for capacity, generation, and consumption up to 2030. Detailed analysis of the Japanese power market's regulatory structure, import and export trends, competitive landscape, and power projects at various stages of the supply chain is provided. The report also gives a snapshot of the power sector in Japan on broad parameters of macroeconomics, supply security, generationโฆ
Global Power Rental Market Insight Report 2018 - Rental Power Solutions, Power E โฆ
The global "Power Rental" Market research report gives point to point breakdown along with the data of Power Rental marketโs analytical study, regional analysis, growth factors and leading companies. The research report about the market provides the data about the aspects which drive the expansion of Power Rental industry. The Power Rental market consists of large key companies who play a vital role in the production, manufacturing, sales and distributionโฆ
Japan: Geothermal Power Market Power Plants, Regulations and Company Profiles 20 โฆ
"Geothermal Power in Japan, Market Outlook to 2030, Update 2018-Capacity, Generation, Power Plants, Regulations and Company Profiles", is the latest report from Publisher, the industry analysis specialists that offer comprehensive information and understanding of the Geothermal market in Japan.
The report provides an in-depth analysis on global renewable power market and global Geothermal market with forecasts up to 2030. The report analyzes the power market scenario in Japan (includes conventional Hydro,โฆ
Temporary Power Generation/Power Rental Market Analysis by Leading Manufacturers โฆ
A new research study from HTF MI with title Global Temporary Power Generation/Power Rental Market Size, Status and Forecast 2025 provides an in-depth assessment of the Temporary Power Generation/Power Rental including key market trends, upcoming technologies, industry drivers, challenges, regulatory policies, key players company profiles and strategies. The research study provides forecasts for Temporary Power Generation/Power Rental investments till 2022.
Access Sample Copy @: https://www.htfmarketreport.com/sample-report/1191683-global-temporary-power-generation-power-rental-market-2
If you are involved inโฆ
DC Power Connectors ,DC Power Connectors industry, DC Power Connectors market tr โฆ
Global DC Power Connectors Industry
New Study on โ2018-2025 DC Power Connectors Market Global Key Player, Demand, Growth, Opportunities and Analysis Forecastโ added to Wise Guy Reports Database
This report studies the global DC Power Connectors market status and forecast, categorizes the global DC Power Connectors market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in North America, Europe, Japan, China, and otherโฆ
Global Temporary Power Generation/Power Rental Market 2017 - Aggreko, HSS, Power โฆ
Increasing power consumption for industrial and commercial applications has built up a demand-supply gap in the power market. This gap is even more evident during the peak hours for electricity consumption. This has led to the development of power rental systems which are capable of providing temporary power during phases of the low power supply.
Scope of the Report:
This report focuses on the Temporary Power Generation/Power Rental in Global market, especiallyโฆ