NEW YORK, Feb. 2, 2023 /PRNewswire/ -- The inverter market size is forecasted to increase by USD 30,136.2 million from 2022 to 2027, at a CAGR of 6.7%, according to the recent market study by Technavio.   The report includes historic market data from 2017 to 2021. In 2017, the market was valued at USD 59825.08 million. The growth of the market will be driven by the rise in wind energy consumption, increasing solar energy installation, and growing support from governments for solar energy projects.

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Technavio has extensively analyzed 15 major vendors, including ABB Ltd., Altenergy Power System Inc., Danfoss AS, DARFON ELECTRONICS CORP., Delta Electronics Inc., Eaton Corp. Plc, Enphase Energy Inc., Fronius International GmbH, General Electric Co., Huawei Technologies Co. Ltd., Mitsubishi Electric Corp., OMRON Corp., Powerone Micro Systems Pvt. Ltd., Schneider Electric SE, Shenzen Growatt New Energy Technology Co. Ltd., Siemens AG, SMA Solar Technology AG, SolarEdge Technologies Inc., Sungrow Power Supply Co. Ltd., and Vertiv Holdings Co.

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Key benefits for industry players & stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Customer landscape - Analysis of price sensitivity, adoption lifecycle, customer purchase basket, adoption rates, and purchase criteria by Technavio

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
• Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
• Furthermore, market adoption rates for all regions have been covered.

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The market is segmented by application (motor drive, renewable energy, and UPS) and type (on-grid and off-grid).

Segmentation by application

• Inclusion 
• • Motor Drive:

The motor drive segment showed a gradual increase in the market share of USD 26,574.30 million in 2017 and continued to grow by 2021. Electric motors account for 44% of electricity consumption worldwide. The demand for electricity is rising globally due to factors such as high urbanization rate and rising population. Such factors are expected to increase the demand for electric motor driver inverters during the forecast period. In addition, the need to comply with the higher energy standards set by various regulatory bodies across the world is driving the demand for electric motors. These factors will drive the growth of the segment during the forecast period.

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The photovoltaic inverter market share is expected to increase by USD 1.48 billion from 2020 to 2025, and the market's growth momentum will decelerate at a CAGR of 2.96%. Furthermore, this report extensively covers photovoltaic inverter market segmentation by technology (string inverters, central inverters, and micro-inverters) and geography (APAC, Europe, North America, MEA, and South America). 

The Solar Hybrid Inverter Market is forecasted to grow by USD 76.44 million during 2022-2026, accelerating at a CAGR of 10.19% during the forecast period. Furthermore, this report extensively covers solar hybrid inverter market segmentation by end-user (commercial and residential) and geography (APAC, Europe, North America, MEA, and South America).

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What are the key data covered in this inverter market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the inverter market between 2023 and 2027
• Precise estimation of the inverter market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the inverter industry across APAC, Europe, North America, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of inverter market vendors

Table of Contents:

1 Executive Summary

• 1.1 Market Overview 
• • Exhibit 01: Executive Summary – Chart on Market Overview
  • Exhibit 02: Executive Summary – Data Table on Market Overview
  • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
  • Exhibit 04: Executive Summary – Chart on Market by Geography
  • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
  • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
  • Exhibit 07: Executive Summary – Chart on Incremental Growth
  • Exhibit 08: Executive Summary – Data Table on Incremental Growth
  • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• • Exhibit 10: Parent market
  • Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market Definition 
• • Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• • Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
  • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
  • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
  • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global inverter market 2017 - 2021 
• • Exhibit 18: Historic Market Size – Data Table on Global inverter market 2017 - 2021 ($ million)

• 4.2 Application Segment Analysis 2017 - 2021
• • Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.3 Type Segment Analysis 2017 - 2021 
• • Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments 
• • Exhibit 30: Chart on Application - Market share 2022-2027 (%)
  • Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• • Exhibit 32: Chart on Comparison by Application
  • Exhibit 33: Data Table on Comparison by Application

• 6.3 Motor drive - Market size and forecast 2022-2027
• • Exhibit 34: Chart on Motor drive - Market size and forecast 2022-2027 ($ million)
  • Exhibit 35: Data Table on Motor drive - Market size and forecast 2022-2027 ($ million)
  • Exhibit 36: Chart on Motor drive - Year-over-year growth 2022-2027 (%)
  • Exhibit 37: Data Table on Motor drive - Year-over-year growth 2022-2027 (%)

• 6.4 Renewable energy - Market size and forecast 2022-2027
• • Exhibit 38: Chart on Renewable energy - Market size and forecast 2022-2027 ($ million)
  • Exhibit 39: Data Table on Renewable energy - Market size and forecast 2022-2027 ($ million)
  • Exhibit 40: Chart on Renewable energy - Year-over-year growth 2022-2027 (%)
  • Exhibit 41: Data Table on Renewable energy - Year-over-year growth 2022-2027 (%)

• 6.5 UPS - Market size and forecast 2022-2027
• • Exhibit 42: Chart on UPS - Market size and forecast 2022-2027 ($ million)
  • Exhibit 43: Data Table on UPS - Market size and forecast 2022-2027 ($ million)
  • Exhibit 44: Chart on UPS - Year-over-year growth 2022-2027 (%)
  • Exhibit 45: Data Table on UPS - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Application 
• • Exhibit 46: Market opportunity by Application ($ million)

7 Market Segmentation by Type

• 7.1 Market segments 
• • Exhibit 47: Chart on Type - Market share 2022-2027 (%)
  • Exhibit 48: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type 
• • Exhibit 49: Chart on Comparison by Type
  • Exhibit 50: Data Table on Comparison by Type

• 7.3 On-grid - Market size and forecast 2022-2027
• • Exhibit 51: Chart on On-grid - Market size and forecast 2022-2027 ($ million)
  • Exhibit 52: Data Table on On-grid - Market size and forecast 2022-2027 ($ million)
  • Exhibit 53: Chart on On-grid - Year-over-year growth 2022-2027 (%)
  • Exhibit 54: Data Table on On-grid - Year-over-year growth 2022-2027 (%)

• 7.4 Off-grid - Market size and forecast 2022-2027
• • Exhibit 55: Chart on Off-grid - Market size and forecast 2022-2027 ($ million)
  • Exhibit 56: Data Table on Off-grid - Market size and forecast 2022-2027 ($ million)
  • Exhibit 57: Chart on Off-grid - Year-over-year growth 2022-2027 (%)
  • Exhibit 58: Data Table on Off-grid - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Type 
• • Exhibit 59: Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• • Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• • Exhibit 61: Chart on Market share by geography 2022-2027 (%)
  • Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• • Exhibit 63: Chart on Geographic comparison
  • Exhibit 64: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• • Exhibit 65: Chart on APAC - Market size and forecast 2022-2027 ($ million)
  • Exhibit 66: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
  • Exhibit 67: Chart on APAC - Year-over-year growth 2022-2027 (%)
  • Exhibit 68: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• • Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ million)
  • Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
  • Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
  • Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027
• • Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ million)
  • Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ million)
  • Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
  • Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• • Exhibit 77: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
  • Exhibit 78: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
  • Exhibit 79: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
  • Exhibit 80: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• • Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ million)
  • Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ million)
  • Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
  • Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• • Exhibit 85: Chart on China - Market size and forecast 2022-2027 ($ million)
  • Exhibit 86: Data Table on China - Market size and forecast 2022-2027 ($ million)
  • Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
  • Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027
• • Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ million)
  • Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ million)
  • Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
  • Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• • Exhibit 93: Chart on Germany - Market size and forecast 2022-2027 ($ million)
  • Exhibit 94: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
  • Exhibit 95: Chart on Germany - Year-over-year growth 2022-2027 (%)
  • Exhibit 96: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027
• • Exhibit 97: Chart on Japan - Market size and forecast 2022-2027 ($ million)
  • Exhibit 98: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
  • Exhibit 99: Chart on Japan - Year-over-year growth 2022-2027 (%)
  • Exhibit 100: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027
• • Exhibit 101: Chart on UK - Market size and forecast 2022-2027 ($ million)
  • Exhibit 102: Data Table on UK - Market size and forecast 2022-2027 ($ million)
  • Exhibit 103: Chart on UK - Year-over-year growth 2022-2027 (%)
  • Exhibit 104: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• • Exhibit 105: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• • Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• • Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• • Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks 
• • Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• • Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• • Exhibit 111: Matrix on vendor position and classification

• 12.3 ABB Ltd. 
• • Exhibit 112: ABB Ltd. - Overview
  • Exhibit 113: ABB Ltd. - Business segments
  • Exhibit 114: ABB Ltd. - Key news
  • Exhibit 115: ABB Ltd. - Key offerings
  • Exhibit 116: ABB Ltd. - Segment focus

• 12.4 Altenergy Power System Inc. 
• • Exhibit 117: Altenergy Power System Inc. - Overview
  • Exhibit 118: Altenergy Power System Inc. - Product / Service
  • Exhibit 119: Altenergy Power System Inc. - Key offerings

• 12.5 Danfoss AS 
• • Exhibit 120: Danfoss AS - Overview
  • Exhibit 121: Danfoss AS - Business segments
  • Exhibit 122: Danfoss AS - Key news
  • Exhibit 123: Danfoss AS - Key offerings
  • Exhibit 124: Danfoss AS - Segment focus

• 12.6 DARFON ELECTRONICS CORP. 
• • Exhibit 125: DARFON ELECTRONICS CORP. - Overview
  • Exhibit 126: DARFON ELECTRONICS CORP. - Product / Service
  • Exhibit 127: DARFON ELECTRONICS CORP. - Key offerings

• 12.7 Delta Electronics Inc. 
• • Exhibit 128: Delta Electronics Inc. - Overview
  • Exhibit 129: Delta Electronics Inc. - Business segments
  • Exhibit 130: Delta Electronics Inc. - Key offerings
  • Exhibit 131: Delta Electronics Inc. - Segment focus

• 12.8 Eaton Corp. Plc 
• • Exhibit 132: Eaton Corp. Plc - Overview
  • Exhibit 133: Eaton Corp. Plc - Business segments
  • Exhibit 134: Eaton Corp. Plc - Key news
  • Exhibit 135: Eaton Corp. Plc - Key offerings
  • Exhibit 136: Eaton Corp. Plc - Segment focus

• 12.9 Enphase Energy Inc. 
• • Exhibit 137: Enphase Energy Inc. - Overview
  • Exhibit 138: Enphase Energy Inc. - Product / Service
  • Exhibit 139: Enphase Energy Inc. - Key offerings

• 12.10 Fronius International GmbH 
• • Exhibit 140: Fronius International GmbH - Overview
  • Exhibit 141: Fronius International GmbH - Product / Service
  • Exhibit 142: Fronius International GmbH - Key offerings

• 12.11 General Electric Co. 
• • Exhibit 143: General Electric Co. - Overview
  • Exhibit 144: General Electric Co. - Business segments
  • Exhibit 145: General Electric Co. - Key news
  • Exhibit 146: General Electric Co. - Key offerings
  • Exhibit 147: General Electric Co. - Segment focus

• 12.12 Huawei Technologies Co. Ltd. 
• • Exhibit 148: Huawei Technologies Co. Ltd. - Overview
  • Exhibit 149: Huawei Technologies Co. Ltd. - Business segments
  • Exhibit 150: Huawei Technologies Co. Ltd. - Key news
  • Exhibit 151: Huawei Technologies Co. Ltd. - Key offerings
  • Exhibit 152: Huawei Technologies Co. Ltd. - Segment focus

• 12.13 Mitsubishi Electric Corp. 
• • Exhibit 153: Mitsubishi Electric Corp. - Overview
  • Exhibit 154: Mitsubishi Electric Corp. - Business segments
  • Exhibit 155: Mitsubishi Electric Corp. - Key news
  • Exhibit 156: Mitsubishi Electric Corp. - Key offerings
  • Exhibit 157: Mitsubishi Electric Corp. - Segment focus

• 12.14 Schneider Electric SE 
• • Exhibit 158: Schneider Electric SE - Overview
  • Exhibit 159: Schneider Electric SE - Business segments
  • Exhibit 160: Schneider Electric SE - Key news
  • Exhibit 161: Schneider Electric SE - Key offerings
  • Exhibit 162: Schneider Electric SE - Segment focus

• 12.15 Siemens AG 
• • Exhibit 163: Siemens AG - Overview
  • Exhibit 164: Siemens AG - Business segments
  • Exhibit 165: Siemens AG - Key news
  • Exhibit 166: Siemens AG - Key offerings
  • Exhibit 167: Siemens AG - Segment focus

• 12.16 SMA Solar Technology AG 
• • Exhibit 168: SMA Solar Technology AG - Overview
  • Exhibit 169: SMA Solar Technology AG - Business segments
  • Exhibit 170: SMA Solar Technology AG - Key offerings
  • Exhibit 171: SMA Solar Technology AG - Segment focus

• 12.17 Vertiv Holdings Co. 
• • Exhibit 172: Vertiv Holdings Co. - Overview
  • Exhibit 173: Vertiv Holdings Co. - Business segments
  • Exhibit 174: Vertiv Holdings Co. - Key news
  • Exhibit 175: Vertiv Holdings Co. - Key offerings
  • Exhibit 176: Vertiv Holdings Co. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• • Exhibit 177: Inclusions checklist
  • Exhibit 178: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• • Exhibit 179: Currency conversion rates for US$

• 13.4 Research methodology 
• • Exhibit 180: Research methodology
  • Exhibit 181: Validation techniques employed for market sizing
  • Exhibit 182: Information sources

• 13.5 List of abbreviations 
• • Exhibit 183: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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