A recent study by Future Market Insights titled “Digital Inverter Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)” examines a number of aspects of the worldwide market for inverters. Important insights have been achieved by filtering and organising the raw material from secondary research in a methodical manner.
The market is carefully examined to gather information about the different trends that are reshaping the industry, the factors propelling market expansion, the prospects influencing market trajectory, and the obstacles impeding the global digital inverter market’s expansion.
These various facets have been analysed across the key regions of North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan and the Middle East and Africa (MEA) to gauge their intensity and impact on the overall market expansion. Based on historical data and the current scenario, future insights on the market based on value and volume projections for a period of 10 years have been included in this research report across each segment of the global digital inverter market.
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Global Digital Inverter Market: Forecast
The global digital inverter market is expected to grow at a high rate to register a CAGR of 7.1% during the period of forecast. The global market is estimated to be valued at around US$ 5.5 Billion in 2017 and is expected to touch about US$ 11 Billion by the end of the year of assessment (2027).
Global Digital Inverter Market: Factors Influencing Growth
Aspects such as increase in disposable income, favorable government regulations, development of plug and play type inverters, high conversion efficiencies, increasing demand from commercial and industrial sectors, increasing consolidation, development of solar projects by governments, the transition from developed to emerging markets and establishment of sound sales channels are driving the growth of the global digital inverter market.
However, factors such as increasing DC optimiser adoption, high costs and errors in digital inverter software are restricting the growth of the global digital inverter market.
Global Digital Inverter Market: Segmental Forecasts
The global digital inverter market has been segmented by product type, by region, by end user and by power source.
- By product type, string inverters segment is estimated to be the largest in terms of value share and is expected to cross US$ 4.2 Bn by the end of the assessment year. This segment is also projected to grow at the fastest rate during the forecast period.
- By end user, utilities segment is the most lucrative and is expected to soar at a high CAGR of 7.4% during the period of forecast to reach a significant value by the end of the assessment period.
- By power source, solar inverters are gaining high traction and the solar inverter segment is poised to register a 7.6% CAGR. The battery inverter segment, however, stays ahead in valuation thus dominating the global market.
- By region, Asia Pacific excluding Japan (APEJ) is the largest region in terms of growth and market value. The digital inverter market in the APEJ region is predicted to soar at a high CAGR of 7.5% during the period of forecast to reach a high valuation of close to US$ 4.5 Bn by the end of the assessment year.
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Global Digital Inverter Market: Company Assessment
The research report on the global digital inverter market encompasses in-depth assessment on various key players dealing with digital inverters.
Profiles of major companies such as Eaton Corporation, Schneider Electric SE, Siemens AG, ABB Ltd., General Electric Co., Enphase Energy, Inc., SMA Solar Technology AG, Vertiv Group Corporation, Leopold Kostal GmbH & Co. KG, Growatt New Energy Co.,Ltd., ReGen Powertech Private Ltd,. Fronius International GmbH, SMA New Energy Technology (Jiangsu) Co., Ltd., and Toshiba Mitsubishi-Electric Industrial Systems Corporation have been included in the competitive assessment chapter of the research report.
Detailed Market Segmentation
By End User
- Utilities
- Commercial
- Residential
By Power Source
- Battery Inverter
- Solar Inverter
By Product Type
- Central Inverter
- String Inverter
- Micro Inverter
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Japan
- Middle East and Africa (MEA)
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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