The global Power Inverters market was valued at US$ 213 million in 2023 and is projected to reach US$ 258.7 million by 2029, at a CAGR of 2.8% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
A power inverter, or inverter, is an electronic device or circuitry that changes direct current (DC) to alternating current (AC). This Report is aimed at the portable power inverter market. This report mainly covers non-embedded inverters largely for the lower-end 12/24/48V devices that would be used to invert DC to AC for power tools, appliances, TVs, computers, etc., and the inverter/charger market in the same sort of categories.
This report aims to provide a comprehensive presentation of the global market for Power Inverters, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Power Inverters. This report contains market size and forecasts of Power Inverters in global, including the following market information:
- Global Power Inverters Market Revenue, 2018-2023, 2024-2029, ($ millions)
- Global Power Inverters Market Sales, 2018-2023, 2024-2029, (K Units)
- Global top five Power Inverters companies in 2023 (%)
Global Power Inverter key players include NFA, Bestek, Rally, Cobra, Duracell, etc. Global top five manufacturers hold a share over 70%. China is the largest market, with a share over 45%, followed by North America and Europe, total have a share about 40 percent. In terms of product, 12V is the largest segment, with a share about 80%. And in terms of application, the largest application is Car Appliances, followed by Outdoor Application.
Power inverters, devices that convert direct current (DC) to alternating current (AC), are essential in various applications.
Commercial Sector
- Market Share: The commercial sector accounts for approximately 35% of the total power inverter market.
- Investment Trends: Businesses, particularly in the retail and hospitality industries, are increasingly investing in power inverters to ensure uninterrupted operations.
- System Capacity: Commercial power inverters typically range from 5 kW to 50 kW, depending on the size and power requirements of the establishment.
- Return on Investment (ROI): Companies report an average ROI of 12-18 months due to energy savings and operational continuity.
Industrial Sector
- Utilization Rate: Nearly 85% of manufacturing plants incorporate power inverters to maintain continuous production and protect sensitive equipment.
- Power Demand: Industrial power inverters often exceed 100 kW, with heavy industries requiring up to several megawatts.
- Efficiency Gains: The use of power inverters has led to a 20-30% increase in energy efficiency in various industrial processes.
- Sector Growth: The industrial power inverter market is expected to grow at a CAGR of 7.5% from 2024 to 2030, driven by advancements in inverter technology and the rise of smart factories.
Renewable Energy Integration
- Solar Power Systems: Over 70% of solar power systems globally use power inverters, essential for converting DC from solar panels to AC for grid compatibility.
- Wind Energy: Approximately 60% of wind turbines are equipped with power inverters to manage energy conversion and grid integration.
- Energy Storage Systems: The use of power inverters in battery storage systems has increased by 50% in the last five years, driven by the need for efficient energy management.
Regional Insights
- North America: Holds a 30% market share, with significant adoption in both residential and commercial sectors. The region's focus on renewable energy sources drives the demand for power inverters.
- Europe: Accounts for 25% of the market, with stringent energy regulations and a strong push for sustainable energy solutions.
- Asia-Pacific: The fastest-growing region, projected to expand at a CAGR of 9.2% from 2024 to 2030. High demand from emerging economies and industrial expansion fuels this growth.
- Rest of the World: Includes Latin America, the Middle East, and Africa, collectively holding a 15% market share. Increasing infrastructure development and energy projects are key growth drivers.
Power inverters play a critical role across various sectors, providing reliable power solutions and enabling the integration of renewable energy sources.
We surveyed the Power Inverters manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Power Inverters Market, by Type, 2018-2023, 2024-2029 ($ Millions) & (K Units)
Global Power Inverters Market Segment Percentages, by Type, 2023 (%)
- 12 V
- 24 V
- 200 to 400 V
- 300 to 450 V
Global Power Inverters Market, by Application, 2018-2023, 2024-2029 ($ Millions) & (K Units)
Global Power Inverters Market Segment Percentages, by Application, 2023 (%)
- Automotive
- Home Use
- Industrial
Global Power Inverters Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions) & (K Units)
Global Power Inverters Market Segment Percentages, By Region and Country, 2023 (%)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Russia
- Nordic Countries
- Benelux
- Rest of Europe
- Asia
- China
- Japan
- South Korea
- Southeast Asia
- India
- Rest of Asia
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Turkey
- Israel
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
- Key companies Power Inverters revenues in global market, 2018-2023 (Estimated), ($ millions)
- Key companies Power Inverters revenues share in global market, 2023 (%)
- Key companies Power Inverters sales in global market, 2018-2023 (Estimated), (K Units)
- Key companies Power Inverters sales share in global market, 2023 (%)
Further, the report presents profiles of competitors in the market, key players include:
- ABB
- Siemens
- Akowa Electronics
- TDK-Lambda
- Mascot
- Mean Well USA
- TE Connectivity
- Custom Power Design
- Tektronix
- Tripp Lite
- Schaffner
- Pico Technology
- Bel Power Solutions
Outline of Major Chapters:
Chapter 1: Introduces the definition of Power Inverters, market overview.
Chapter 2: Global Power Inverters market size in revenue and volume.
Chapter 3: Detailed analysis of Power Inverters manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Power Inverters in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Global Power Inverters capacity by region & country.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 11: The main points and conclusions of the report.
