Technavio, a tech-focused market research firm, has published a new report on the global inverter market, which is expected to grow at a CAGR of close to 6% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global inverter market into the following key regions: the Americas, APAC, and EMEA.
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Inverter market in APAC: In APAC, the rising use of inverters in manufacturing, solar, railroad, and industrial sectors has had a positive impact on the inverter market. Countries such as Japan, Australia, China, South Korea, Taiwan, India, and Singapore are expected to contribute significantly to the growth of the inverter market.
According to Sayani Roy, an industry expert at Technavio, specializing in research on power, “The demand for renewable energy, including wind power is growing in APAC due to the rise in population and improvements in the standard of living. China and India are likely to deploy lots of installations in the region due to the high wind energy potential in these countries and strong government support.”
Several manufacturing companies from Europe and North America are establishing operations in APAC due to the low manufacturing cost in the region. The upsurge in manufacturing activities in the region is expected to propel the demand for general machinery, thereby driving the demand for industrial UPS systems.
Inverter market in EMEA: The power inverter market in EMEA is anticipated to grow steadily during the forecast period. As UPS systems are merged with inverters to provide stable power, the growth of the UPS market in EMEA will also lead to an increase in the market for inverters. Besides this, the Middle Eastern countries are likely to fuel the growth of the UPS and inverter markets owing to the rise in oil and gas exploration activities in these regions.
Inverter market in the Americas: The inverter market in the Americas is likely to grow steadily during the forecast period due to the surge in investments in solar capacity and growth in solar power plants. North America is expected to have the largest share and dominate the inverter market in the region during the forecast period. This is due to the growing number of solar projects and increase in grants and subsidies offered by the US government.
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The top leading vendors operating in the global inverter market are:
- ABB
- Bonfiglioli
- GE
- Schneider Electric
- SMA Solar Technology
Other prominent vendors in the market include Mitsubishi Electric, Danfoss, ALSTOM, Siemens, Delta Electronics, KACO new energy, Eaton, Power One Micro Systems, Vertiv, OMRON, Enphase Energy, TABUCHI ELECTRIC, Fronius International, Huawei Technologies, Advanced Energy Industries, and Sungrow.
A more detailed analysis is available in the Technavio market research report titled, ‘Global Inverter Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Automotive On-board Power Inverter Market 2017-2021
- Global Inverter Technology Air Conditioner Market 2016-2020
- Global Electrical Resistor Market 2016-2020
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