A new Report by Delvens, titled "Inverter Market” offers a comprehensive analysis of the industry, which comprises insights on the Global analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global Inverter Market size is projected to reach a CAGR of 15.7% from 2023-2030.
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Power inverters are electric devices that transform direct current (DC) into alternating current (AC). Unlike generators, power inverters offer low operating costs and eliminate the inconvenience of using change-over switches. Owing to these characteristics, they are used to operate several tools, household appliances, and other electrical products. Power inverters are available in a variety of sizes, types, and power ranges as per the varied consumer needs and preferences. Some of these variants include modified sine wave power inverters, plug-in grid tie power inverters, and solar power inverters.
The rapid economic growth and rising disposable incomes of individuals across the globe have enabled them to spend more on products like power inverters, which enhance their lifestyles and provide comfort.
Delvens Industry Expert's Standpoint
The inverter market has witnessed significant growth in recent years, driven by increasing demand for clean and reliable power sources, rising adoption of renewable energy systems, and growing awareness about energy efficiency. The market has seen technological advancements, such as the development of smart inverters with advanced features like grid connectivity and energy storage integration
Competitive Landscape
- Luminous Power Technologies Pvt. Ltd.
- V-Guard Industries
- Microtek International Private Limited
- Su-Kam Power Systems Limited
- Exide Industries Limited
- Amara Raja Batteries Limited
- Genus Innovation Limited
- Arise India Limited
- Consul Neowatt Power Solutions Private Limited
- Uniline Energy Systems Private Limited
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Asia Pacific to Dominate the Market
- Asia Pacific is expected to dominate the global inverter market between 2023-2030, followed by North America and Europe. The inverter market in the Asia Pacific is witnessing significant developments in the renewable energy sector due to increased initiatives towards climate change and net zero targets, which have supported the demand for inverters across countries of the region.
- The increasing investments in photovoltaic (PV) plants, a rise of installations in the residential sector along with the shift in transportation towards electrical vehicles in countries such as China, India, Australia, and Japan.
Recent Developments
- In March 2022, Huawei Technologies signed a strategic cooperation agreement with Meienergy Technology Co., Ltd for providing smart PV and energy storage systems for the 1 GW utility PV plant and 500 MWh energy storage system in Ghana which is developed by Meienergy.
- In April 2022, Sungrow Power Supply supplied string inverters to a 20.7 MW rooftop PV plant for the electric vehicle manufacturing base of XPENG. The XPENG factory is now powered by 30% of clean electricity.
Reasons to Acquire:
Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
Gain authentic and granular data access for Inverter Market to understand the trends and the factors involved in changing market situations.
Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
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The Report helps to identify the opportunities in Global Regions:
- North America (the United States, Canada, and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
- South America (Brazil etc.)
- The Middle East and Africa (North Africa and GCC Countries)
In addition to the market data for Inverter Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirement.
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