The global ambulance power inverter market is set to witness an impressive growth rate of 5.5% from 2022 to 2032. The ambulance power inverter market size is anticipated to reach a valuation of around US$ 112 Billion by the end of the year 2032 from the current valuation of US$ 64 Billion in 2022.
Until 2020, the demand for ambulance power inverters was limited to only a small fraction of the total ambulances owned by any public or private healthcare institution. However, when the Covid-19 pandemic overtook the available medical infrastructure of all major economies, the requirement for such inverters increased manifold in those two years, consequently escalating the sales of ambulance power inverter in the global market.
Following the pandemic, several private companies have emerged to provide ambulance services on a private hiring business model. The growing adoption of such service models in different companies has boosted the ambulance power inverter market trends and resulted in its market acceleration.
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According to geographies, the Asia Pacific region is anticipated to dominate the ambulance power inverter market due to the region’s growing need for such modern ambulance features and others, which is driving the market’s expansion. Next to the Asia Pacific, North America is anticipated to have considerable growth in the ambulance power inverter market share due to an increase in new technology adoption and a rise in service providers.
The sales of ambulance power inverters in European countries have improved to certain degrees as governments in various nations take steps to provide improved amenities in the healthcare sector. During the anticipated period, the Middle East and Africa are anticipated to grow slowly as the area develops, adopts new technology, and sees an increase in sales of ambulance multilevel inverters.
Further, the adoption of custom-fitted ambulance power inverters in any other type of emergency vehicle is a growing trend in some parts of the world. Such developments are anticipated to present immense ambulance power inverter market opportunities in the coming days.
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Key Takeaways from Ambulance Power Inverter Market Study
- The overall growth of the global ambulance power inverter market is estimated to be around US$ 48 Billion over the forecast years through 2032, in terms of absolute dollars.
- On the basis of different types of the UPS segment, particularly UPS 650 VA, is the most preferred category for the application of such inverters in emergency vehicles.
- Asia Pacific countries such as China, Japan, and India are the leading regions in the overall sales of ambulance power inverter in the global market and together contribute for almost 23% of it.
- North America holds the second position in the list of leading markets in demand for ambulance power inverter according to various broad geographical regions.
- Europe is recovering from its stagnant period in demand for ambulance power inverter and is expected to grow at a pace of 7% through the forecasted years.
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Competitive Landscape for the Global Ambulance Power Inverter Market
A few of the major companies operating in the ambulance power inverter market are Omron Automation Pvt. Ltd., ABB Ltd., Tabuchi Electric Co., LTD., Samlex America Inc., PowerBright, SMA Solar Technology, Magnum Dimensions, Calsonic Kansei, Samlex America, and Stanley among others.
Presently, leading suppliers of ambulance power inverters are working to improve product dependability and quality by incorporating new technology. It has increased ambulance power inverter efficiency consequently improving its market penetration in last few years.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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