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Inverter Market to Reach USD 55.17 Billion by 2030, Growing at a 16% CAGR

12-13-2024 05:06 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Maximize Market Research Pvt. Ltd.

Inverter Market

Inverter Market

๐ˆ๐ง๐ฏ๐ž๐ซ๐ญ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ - ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ, ๐†๐ซ๐จ๐ฐ๐ญ๐ก, ๐š๐ง๐ ๐“๐ซ๐ž๐ง๐๐ฌ ๐’๐ก๐š๐ฉ๐ข๐ง๐  ๐ญ๐ก๐ž ๐…๐ฎ๐ญ๐ฎ๐ซ๐ž ๐จ๐Ÿ ๐„๐ง๐ž๐ซ๐ ๐ฒ ๐’๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง๐ฌ

๐ˆ๐ง๐ฏ๐ž๐ซ๐ญ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฏ๐ž๐ซ๐ฏ๐ข๐ž๐ฐ

The global inverter market is projected to experience robust growth in the coming years, driven by the increasing demand for renewable energy sources, the rise of electric vehicles (EVs), and significant technological advancements in power electronics. The inverter market is estimated to reach a value of USD 55.17 billion by 2030, growing at a CAGR of 16% during the forecast period of 2024-2030.

Inverters play a crucial role in converting direct current (DC) into alternating current (AC), facilitating the integration of renewable energy sources such as solar and wind power into the grid. Their growing importance in residential, commercial, and industrial applications is making them key players in the broader energy landscape.

๐€๐œ๐œ๐ž๐ฌ๐ฌ ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐œ๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐ญ๐ก๐ข๐ฌ ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐ซ๐ข๐ ๐ก๐ญ ๐ง๐จ๐ฐ: https://www.maximizemarketresearch.com/request-sample/54845/

๐‚๐€๐†๐‘ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐Ÿ ๐ญ๐ก๐ž ๐ˆ๐ง๐ฏ๐ž๐ซ๐ญ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ

According to recent market research, the global inverter market is expected to grow at a CAGR of 16% over the forecast period. This growth is driven by technological advancements in inverter efficiency, the increasing adoption of solar and wind energy, and the rising use of inverters in the electric vehicle (EV) market.

The residential and commercial sectors have shown heightened demand for inverters, particularly in solar power generation. Governments across the globe are also providing incentives and subsidies for renewable energy adoption, which further propels the growth of the inverter market.

๐Š๐ž๐ฒ ๐‘๐ž๐œ๐ž๐ง๐ญ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐ˆ๐ง๐ฏ๐ž๐ซ๐ญ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ

๐‘ป๐’†๐’„๐’‰๐’๐’๐’๐’๐’ˆ๐’Š๐’„๐’‚๐’ ๐‘ฐ๐’๐’๐’๐’—๐’‚๐’•๐’Š๐’๐’๐’”: Recent developments in inverter technology, such as the introduction of multi-level inverters and smart inverters, have made it possible to enhance energy efficiency and reliability in power distribution.
๐‘ท๐’‚๐’“๐’•๐’๐’†๐’“๐’”๐’‰๐’Š๐’‘๐’” & ๐‘ช๐’๐’๐’๐’‚๐’ƒ๐’๐’“๐’‚๐’•๐’Š๐’๐’๐’”:Industry leaders like SMA Solar Technology AG, FIMER, and Sungrow Power Supply Co., Ltd. have engaged in strategic partnerships to expand their product offerings and geographical reach.
๐‘น๐’†๐’ˆ๐’–๐’๐’‚๐’•๐’๐’“๐’š ๐‘ช๐’‰๐’‚๐’๐’ˆ๐’†๐’”: Governments worldwide are introducing stricter environmental regulations, promoting energy-efficient solutions, and incentivizing the use of inverters in renewable energy systems.
๐ˆ๐ง๐ฏ๐ž๐ซ๐ญ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‚๐จ๐ฎ๐ง๐ญ๐ซ๐ฒ-๐’๐ฉ๐ž๐œ๐ข๐Ÿ๐ข๐œ ๐†๐ซ๐จ๐ฐ๐ญ๐ก, ๐“๐ซ๐ž๐ง๐๐ฌ, ๐š๐ง๐ ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ

๐ˆ๐ง๐ฏ๐ž๐ซ๐ญ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐•๐ข๐ž๐ญ๐ง๐š๐ฆ

Vietnam is rapidly emerging as a key player in Southeast Asia's renewable energy landscape, which presents vast opportunities for inverter manufacturers. With the government's strong push towards solar energy adoption and renewable sources, the demand for inverters is expected to see substantial growth. Vietnam's solar power capacity has witnessed a steep rise, with over 12.5 GW of installed solar power capacity by 2023, making it one of the top nations in Southeast Asia for solar energy.

๐‘ฒ๐’†๐’š ๐‘ซ๐’†๐’—๐’†๐’๐’๐’‘๐’Ž๐’†๐’๐’•๐’”:Local companies such as VietSolar are contributing to the growth of the inverter market by collaborating with international partners to improve the efficiency of solar energy systems.

๐ˆ๐ง๐ฏ๐ž๐ซ๐ญ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‚๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐“๐ก๐š๐ข๐ฅ๐š๐ง๐

Thailand's inverter market has become increasingly consolidated due to the involvement of both local and international players, which are partnering to optimize solar energy systems. The government's 2030 energy plan, which aims to increase renewable energy's share in the national grid to 30%, will likely accelerate demand for inverters.

๐‘น๐’†๐’„๐’†๐’๐’• ๐‘ด๐’†๐’“๐’ˆ๐’†๐’“๐’” ๐’‚๐’๐’… ๐‘จ๐’„๐’’๐’–๐’Š๐’”๐’Š๐’•๐’Š๐’๐’๐’”: Companies like ๐ƒ๐ž๐ฅ๐ญ๐š ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐จ๐ง๐ข๐œ๐ฌ (๐“๐ก๐š๐ข๐ฅ๐š๐ง๐) and ๐’๐ฎ๐ง๐ ๐ซ๐จ๐ฐ ๐๐จ๐ฐ๐ž๐ซ ๐’๐ฎ๐ฉ๐ฉ๐ฅ๐ฒ ๐‚๐จ., ๐‹๐ญ๐. are strengthening their presence in the country through strategic acquisitions and investments.

๐ˆ๐ง๐ฏ๐ž๐ซ๐ญ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ ๐š๐ง๐ ๐ˆ๐ง๐ง๐จ๐ฏ๐š๐ญ๐ข๐จ๐ง๐ฌ ๐ข๐ง ๐‰๐š๐ฉ๐š๐ง

Japan's inverter market is expected to experience steady growth, driven by the government's long-term commitment to renewable energy and energy efficiency. With a focus on high-efficiency, smart grid-connected inverters, Japan continues to be a leader in inverter technology innovation.

๐‘น๐’†๐’„๐’†๐’๐’• ๐‘ซ๐’†๐’—๐’†๐’๐’๐’‘๐’Ž๐’†๐’๐’•๐’”: ๐๐š๐ง๐š๐ฌ๐จ๐ง๐ข๐œ ๐‚๐จ๐ซ๐ฉ๐จ๐ซ๐š๐ญ๐ข๐จ๐ง has recently unveiled a next-generation hybrid inverter designed to work seamlessly with solar and battery storage systems, providing optimal energy management for residential applications.
๐‘ถ๐’‘๐’‘๐’๐’“๐’•๐’–๐’๐’Š๐’•๐’š: The upcoming 2025 World Expo in Osaka is likely to provide additional opportunities for inverter manufacturers to showcase their latest technologies to global audiences.

๐ˆ๐ง๐ฏ๐ž๐ซ๐ญ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐”๐ฉ๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐’๐จ๐ฎ๐ญ๐ก ๐Š๐จ๐ซ๐ž๐š

South Korea's inverter market is being driven by its ambitious green energy transition, with the government targeting a 20% share of renewable energy by 2030. This has led to a surge in demand for efficient inverters, particularly in the solar sector.

๐‘ฒ๐’†๐’š ๐‘ท๐’๐’‚๐’š๐’†๐’“๐’”: Companies like ๐‡๐ฒ๐ฎ๐ง๐๐š๐ข ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ and ๐‹๐† ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐จ๐ง๐ข๐œ๐ฌ are innovating rapidly to meet domestic and international demand. South Korea's advancements in smart inverter technology are setting new standards in the global market.

๐ˆ๐ง๐ฏ๐ž๐ซ๐ญ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐’๐ข๐ง๐ ๐š๐ฉ๐จ๐ซ๐ž

Singapore has made significant strides in the adoption of solar energy, with one of the highest solar energy penetration rates in the world. As the demand for solar energy solutions continues to rise, inverters are becoming essential for energy conversion.

๐‘ถ๐’‘๐’‘๐’๐’“๐’•๐’–๐’๐’Š๐’•๐’š: The Singapore government's aggressive policies aimed at reducing carbon emissions and increasing clean energy usage provide a fertile ground for inverter companies, with organizations like Sunseap Group playing a pivotal role in market expansion.

๐ˆ๐ง๐ฏ๐ž๐ซ๐ญ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ ๐š๐ง๐ ๐‚๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐”๐ง๐ข๐ญ๐ž๐ ๐’๐ญ๐š๐ญ๐ž๐ฌ

The United States remains one of the largest markets for inverters, with substantial growth projected across both residential and commercial segments. The solar industry, driven by a robust policy framework under the Biden administration, is expected to significantly contribute to the growth of the inverter market.

๐‘ด๐’†๐’“๐’ˆ๐’†๐’“๐’” ๐’‚๐’๐’… ๐‘จ๐’„๐’’๐’–๐’Š๐’”๐’Š๐’•๐’Š๐’๐’๐’”: Recently, ๐„๐ง๐ฉ๐ก๐š๐ฌ๐ž ๐„๐ง๐ž๐ซ๐ ๐ฒ acquired ๐’๐จ๐ฅ๐š๐ซ๐„๐๐ ๐ž ๐“๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐ž๐ฌ to diversify their product portfolio and expand market reach, positioning themselves as major players in the global inverter space.
๐‘ฎ๐’๐’—๐’†๐’“๐’๐’Ž๐’†๐’๐’• ๐‘บ๐’–๐’‘๐’‘๐’๐’“๐’•:The Inflation Reduction Act (IRA), passed in 2022, has provided substantial tax incentives for clean energy systems, including solar inverters, giving a boost to the market.

๐ˆ๐ง๐ฏ๐ž๐ซ๐ญ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐š๐ง๐ ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ฒ ๐ข๐ง ๐„๐ฎ๐ซ๐จ๐ฉ๐ž

The European inverter market is seeing rapid growth, particularly with the rise in adoption of solar energy systems in countries like Germany, Spain, and Italy. The European Green Deal and ambitious climate goals are catalyzing market growth.

๐‘ฒ๐’†๐’š ๐‘ป๐’“๐’†๐’๐’…๐’”: Innovations in microinverters and power optimizers are shaping the European inverter landscape. Companies like FIMER and SMA Solar Technology AG are leading the way in product development and market share expansion.
๐‘ถ๐’‘๐’‘๐’๐’“๐’•๐’–๐’๐’Š๐’•๐’š: As part of its Green Deal, Europe is expected to heavily invest in renewable energy, which will further fuel demand for inverters, particularly in the residential and commercial sectors.

๐‚๐ฎ๐ซ๐ข๐จ๐ฎ๐ฌ ๐ญ๐จ ๐ฉ๐ž๐ž๐ค ๐ข๐ง๐ฌ๐ข๐๐ž? ๐†๐ซ๐š๐› ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐œ๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐ญ๐ก๐ข๐ฌ ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐ง๐จ๐ฐ: https://www.maximizemarketresearch.com/request-sample/54845/

๐ˆ๐ง๐ฏ๐ž๐ซ๐ญ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ:

๐’ƒ๐’š ๐‘ป๐’š๐’‘๐’†๐’”

Solar Inverter
String Inverters
Central
Inverters Microinverters
Others
Vehicle Inverter
Others

๐’ƒ๐’š ๐‘ถ๐’–๐’•๐’‘๐’–๐’• ๐‘ท๐’๐’˜๐’†๐’“ ๐‘น๐’‚๐’•๐’Š๐’๐’ˆ

Below 10 kW
10-50 kW
51-100 kW
Above 100 kW

๐’ƒ๐’š ๐‘ช๐’๐’๐’๐’†๐’„๐’•๐’Š๐’๐’ ๐‘ป๐’š๐’‘๐’†

Grid-Tied
Off-grid
Others

๐’ƒ๐’š ๐‘ฌ๐’๐’…-๐‘ผ๐’”๐’†๐’“

Residential
Commercial
Industrial

The market is divided into three segments based on type: solar inverters, vehicle inverters, and others. Solar inverters are likely to dominate the inverter market throughout the forecast period. Solar inverters are further classified as string inverters, central inverters, microinverters, and others. As the world's use of solar energy to mitigate climate change and reduce reliance on fossil fuels grows, so does the need for solar power systems, necessitating the use of efficient solar inverters. These assist in converting the direct current (DC) generated by solar panels into alternating current (AC), which is compatible with the electrical grid and may power homes, companies, and industries. Technological developments have improved efficiency, dependability, and cost-effectiveness, making solar inverters more important.

๐…๐จ๐ซ ๐š๐๐๐ข๐ญ๐ข๐จ๐ง๐š๐ฅ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐ข๐ง๐ญ๐จ ๐ญ๐ก๐ข๐ฌ ๐ฌ๐ญ๐ฎ๐๐ฒ, ๐ฉ๐ฅ๐ž๐š๐ฌ๐ž ๐ซ๐ž๐Ÿ๐ž๐ซ ๐ญ๐จ: https://www.maximizemarketresearch.com/request-sample/54845/

๐ˆ๐ง๐ฏ๐ž๐ซ๐ญ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ:

1. Solar Edge Technologies (Milpitas, California, USA)
2. SunPower Corporation ( San Jose, California, USA)
3. Schneider Electric (Andover, Massachusetts, USA)
4. General Electric (GE Renewable Energy)
5. TBEA Sunoasis Co., Ltd. (Urumqi, China)
6. Sungrow Power Supply Co., Ltd. v Hefei, China)
7. Huawei Technologies (Shenzhen, China)
8. SMA Solar Technology AG (Niestetal, Germany)
9. Fronius International GmbH (Pettenbach, Austria)
10. ABB (Zurich, Switzerland)
11. Ingeteam (Zamudio, Spain)
12. Siemens (Munich, Germany)
13. Kostal Solar Electric (Freiburg, Germany)
14. FIMER (Terranuova Bracciolini, Italy)
15. Delta Electronics (Hoofddorp, Netherlands)
16. Kaco New Energy (Neckarsulm, Germany)
17. Enphase Energy (Petaluma, California, USA)
18. Trina Solar Limited (Changzhou, China)
19. Risen Energy Co., Ltd. (Ningbo, China)
20. GCL-Poly Energy Holdings Limited (Jiangsu, China)
21. Victron Energy (Almere, Netherlands)

๐„๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ž ๐ญ๐ก๐ž ๐ญ๐ซ๐ž๐ง๐๐ข๐ง๐  ๐ซ๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐Ÿ๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐Ÿ๐ซ๐จ๐ฆ ๐Œ๐š๐ฑ๐ข๐ฆ๐ข๐ณ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐ญ๐ก๐š๐ญ ๐š๐ซ๐ž ๐ฆ๐š๐ค๐ข๐ง๐  ๐ฐ๐š๐ฏ๐ž๐ฌ:

Global Silver Nanoparticles Market https://www.maximizemarketresearch.com/market-report/global-silver-nanoparticles-market/70861/

Global Boron Trifluoride Market https://www.maximizemarketresearch.com/market-report/global-boron-trifluoride-market/64257/

Biomass Gasification Market https://www.maximizemarketresearch.com/market-report/biomass-gasification-market/66858/

Global Female Stress Urinary Incontinence Treatment Devices Market https://www.maximizemarketresearch.com/market-report/global-female-stress-urinary-incontinence-treatment-devices-market/86777/

Global Robotic Grippers Market https://www.maximizemarketresearch.com/market-report/global-robotic-grippers-market/119521/

Global Aerospace Interior Market https://www.maximizemarketresearch.com/market-report/aerospace-interior-market/146727/

SelfHealing Grid Market https://www.maximizemarketresearch.com/market-report/self-healing-grid-market/758/

Energy bar Market https://www.maximizemarketresearch.com/market-report/energy-bar-market/129300/

Dairy Protein Market https://www.maximizemarketresearch.com/market-report/global-dairy-protein-market/101734/

Holographic AR Display Market https://www.maximizemarketresearch.com/market-report/holographic-ar-display-market/215464/

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ ๐”๐ฌ

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