A comprehensive overview of the global power inverter market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Power Inverter market globally. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the global market at regional and country levels. The Global Power Inverter Market is expected to grow at a CAGR of around 5% during the forecasted period of 2021-2027.

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Market Overview

The power inverter market is expected to register significant growth throughout 2021-2027. Some of the factors that drive the demand for power inverters in the market are the primary elements that enhance the adoption of the power inverters throughout the residential and the economic sectors the low value of operation and the removal of the inconveniences related to the change-over switches, unlike the energy generators. Power inverters are applied for operating diverse appliances and electric products. Moreover, with the consistent growth in electrification rate and urbanization, people rely more on electronic gadgets which enhance their lifestyle and provide them comfort. Thus, the rising need for continuous power backup has been driving the market for power inverters, especially in developing countries like China, India, Brazil, and Mexico.

COVID-19 impact

The market for power inverters was significantly impacted by the COVID 19 outbreak; however, the power generation sector was not completely shut down, which had a favorable influence on the power inverter industry, Electronics sectors suffered from the pandemic, and Trade barriers made the prospects for supply and demand even worse. Governments in numerous nations announced a total lockdown and temporary industry shutdown in 2020, which seriously impacted the whole production process. COVID-19 has a significant impact on the economy and consumers. To reduce the transmission of COVID-19 among people, electronic manufacturing hubs were temporarily shut down. The supply chain for power inverters has been severely damaged by this, leading to a lack of raw materials, intermediate components, and completed goods.

The global power inverter market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Applications, the market is primarily segmented into:

·        Motor Drivers

·         UPS

·         Rail Traction

·         Wind Turbines

·         Electric vehicles/ Hybrid Electric vehicles

·         Solar PV

·         Others

Based on application, the market is categorized into motor drivers, ups, rail traction, wind turbines, electric vehicles/ hybrid electric vehicles, solar PVs, and others. Motor Drivers held a prominent share in the market in 2020. This can be linked to the growing popularity and adoption of motor drivers over the world. Motor drivers are responsible for 45% of total electric energy use across all the appliances. The rise of the power inverter market is aided by the greater efficiency of motor drivers.

By End-use, the market is primarily bifurcated into:

·        Residential

·        Commercial

Based on end-use, the market is classified into residential and commercial. The residential sector captured a significant share of the market in 2020. It is mainly owing to the growing number of residential structures and urbanization coupled with the rapid increase of power backup systems in the residential sector.

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Global Power Inverter Market Geographical Segmentation Includes:

·        North America

Ø The U.S.

Ø Canada

Ø Rest of the world

·        Europe

Ø Germany

Ø The U.K.

Ø France

Ø Italy

Ø Spain

Ø Rest of Europe

·        Asia-Pacific

Ø China

Ø India

Ø Japan

Ø Australia

Ø Rest of Asia-Pacific

·        Rest of the World

For a better understanding of the market adoption of power inverter market, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, and rest of North America); Europe (Germany, UK, France Italy, Spain, and Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World. The Asia Pacific dominates the market due to increasing investments in the photovoltaic (PV) plants, the rise of installations in the residential sector along with the shift towards electrical vehicles in countries in developing countries, coupled with growing rapid economic growth and rising disposable incomes of individuals across the globe have enabled them to spend more on products like power inverter and these are some of the major factors that drive the growth of power inverter market.

Some of the major players operating in the market include Samlex America Inc., Solar Edge Technology Inc., Power Bright, SMA Solar Technology, Magnum Dimensions, Calsonic Kansei, Tabuchi Electric Co., ABB Ltd, Omron Automation Pvt. Ltd, Enphase Energy Inc.

The major players targeting the market include:

·        Samlex America Inc.

·        Solar Edge Technology Inc.

·         Power Bright

·         SMA Solar Technology

·         Magnum Dimensions

·        Calsonic Kansei

·         Tabuchi Electric Co.

·         ABB Ltd

·         Omron Automation Pvt. Ltd

·         Enphase Energy, Inc

Competitive Landscape

The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating globally. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the global Power Inverter market. The major players have been analyzed by using research methodologies for getting insight views on market competition.

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Key questions resolved through this analytical market research report include:

·        What are the latest trends, new patterns, and technological advancements in the global Power Inverter market?

·        Which factors are influencing the global Power Inverter market over the forecast period?

·        What are the global challenges, threats, and risks in the global Power Inverter market?

·        Which factors are propelling and restraining the global Power Inverter market?

·        What are the demanding global regions of the global Power Inverter market?

·        What will be the market size in the upcoming years?

·        What are the crucial market acquisition strategies and policies applied by the companies?

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