Power Inverter Market
Power Inverter Market Size, Share & Trends Analysis Report by Type (Inverter Source, and Load), and End-User (Automotive, Energy, Telecommunication & IT, Industrial, Healthcare, Infrastructure, Residential, and Others (Education & Research, Healthcare, Robotics & Automation, and Retail & E-Commerce)) Forecast Period (2025-2035)
Industry Overview
Power inverter market is anticipated to grow at a CAGR of 6.7% during the forecast period (2025-2035). Power inverters are gaining traction across diverse sectors from automotive, energy, and IT to manufacturing backed by growing demand for a consistent & reliable power supply, especially in energy-intensive segments. Further, increasing the use of automotive & industrial automation for enhancing utility & energy consumption of the respective devices also contributes to industry growth. However, the market faces considerable friction from supply chain difficulties, which is expected to impact market growth in the short term.
Market Dynamics
Extension in Sectorial Utility of Power Inverters
In recent years, the sectorial utility of power inverters has been a major contributor to growing demand in the global market. This extension in utility includes the incorporation of power inverters in sectors such as automotive (EV charging, & regenerative braking), and industrial automation (motor control, industrial machinery), among others. Further, the market players through innovation, product development, and investment are expected to cater to the changing demand for power inverters across diverse sectors. For instance, the next generation 800V inverter unveiled by GKN Automotive was back in June 2022. Its high-end EV technology gains the OEMs but has increased power output by 20%, power density by 50%, and the power-to-weight ratio by 60%. The amount of copper used has decreased by 63% and it can be applied in both 800V and 400V systems. It promises quicker charging, increased batteries, and far better performance than future EVs.
Supply Chain Complexities with Regards to Raw Materials
The global supply chain complexities have been posing constant impediments to the seamless operations power inverter ecosystem. These complexities include difficulties in raw material procurement, high levels of supplier dependence, price volatility, geopolitical risks, and logistical issues. These factors extensively impact manufacturers in attaining economic moats, operational efficiency, optimum product development, and positive customer relations. Further, the post-pandemic scenario of supply chain dynamics has not remained quite favorable for diverse industries attributing to domestic technological sovereignty prioritization by restricting exports, creating supply chain disruption & pricing volatility globally. For example, the Center for Strategic and International Studies reported semiconductor sales surpassing $500 billion by 2022, accounting for 12% of the GDP of the entire US economy and performing one of the prime roles in industrial manufacturing worldwide. Their effects on the 2021 semiconductor shortages on the US GDP amounted to approximately $240 billion and halted the production of approximately 7.7 million vehicles.
Market Segmentation
- Based on the type, the market is segmented into inverter source (current source inverter, and voltage source inverter), and load (single phase inverter, and three phase inverter).
- Based on the end-user, the market is segmented into automotive, energy, telecommunication & it, industrial, healthcare, infrastructure, residential, and others (education & research, healthcare, robotics & automation, and retail & e-commerce)
Energy to Become a Pivotal Segment
The global dynamics of shifting to renewable energy sources, such as solar and wind, are likely to make energy the leading application of power inverters. This is largely due to global initiatives for carbon neutrality, increased investments in renewable energy projects, and positive regulatory frameworks for transition. The International Energy Agency estimates that global energy investment will exceed $3 trillion in 2024; of that, $2 trillion will be invested in clean energy technologies and infrastructure. In particular, since 2020, investment in clean energy has been on the rise, with more capital being invested in renewable power, grids, and storage than in oil, gas, and coal combined.
Regional Outlook
The global power inverter market is further divided by geography, including North America (the US and Canada), Asia-Pacific (India, China, Japan, South Korea, Australia and New Zealand, ASEAN Countries, and the Rest of Asia-Pacific), Europe (the UK, Germany, France, Italy, Spain, Russia, and the Rest of Europe), and the Rest of the World (the Middle East & Africa, and Latin America)
Asia-Pacific Region Dominates the Market with Major Share
This region holds a substantial share due to the presence of enormous local manufacturers, like Huawei Technologies Co., Ltd., Sungrow Power Supply Co., Ltd., TDK Corporation, Delta Electronics, and more, which has made this region one of the leading power electronics manufacturers. The area also presents enormous demand from local markets, India and China, that are always seeking to increase their industrial footprint & energy infrastructure. Further, government support through regional initiatives to promote manufacturing & exports has highly contributed to making Asia-Pacific a significant region in the global power inverter market. For example, China Huadian also just put out a tender for 18 GW of string inverters, which it started to take offers on 6 February 2025. China's NDRC and NEA also agreed to ramp up the addition of renewable capacity up to 200 GW per annum by 2027 with 90% national utilization. Huasun has shipped more than 10 GW of HJT solar modules and even set a record 1 GW in December 2024 and achieved above 26% average cell efficiency.
Market Players Outlook
The major companies operating in the global Power Inverter market include ABB Ltd., Huawei Technologies Co., Ltd., Sungrow Power Supply Co., Ltd., TDK Corporation, and Delta Electronics, among others. Market players are leveraging partnerships, collaborations, mergers and acquisition strategies for business expansion and innovative product development to maintain their market positioning.
Recent Developments
- In September 2024, DENSO Corp. began the production of inverters at DENSO Fukushima Co., Ltd., further strengthening its manufacturing capabilities in Japan.
- In March 2024, Sungrow inked a strategic cooperation deal with Gulf Energy Development Plc, GULF to offer PV inverters encompassing liquid-cooled energy storage systems for 3.5GWp projects that the former expects to develop within seven years in Thailand. This will be based on the Power Development Plan for Thailand, which would look into developing energy security, optimization of supply, and development of renewable energy in Southeast Asia.
- In January 2024, FSP Group, the leading power supply company, unveiled a new series of green energy solutions including LightUp, the off-grid PV Inverter, and the EnerX 3000 energy storage system. It is a step in the new developments against climate change and to cut down fossil fuel dependence through the use of renewable energy for self-consumption.
The Report Covers
- Market value data analysis of 2024 and forecast to 2035.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global power inverter market. Based on the availability of data, information related to new products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1.
Report Summary
·
Current
Industry Analysis and Growth Potential Outlook
·
Global Power
Inverter Market Sales
Analysis – Type | End-User ($ Million)
·
Power Inverter Market Sales Performance of Top Countries
1.1.
Research
Methodology
·
Primary
Research Approach
·
Secondary
Research Approach
1.2.
Market Snapshot
2.
Market Overview and Insights
2.1.
Scope of
the Study
2.2.
Analyst
Insight & Current Market Trends
2.2.1.
Key Power
Inverter Industry Trends
2.2.2.
Market Recommendations
2.3.
Porter's
Five Forces Analysis for the Power Inverter Market
2.3.1.
Competitive
Rivalry
2.3.2.
Threat
of New Entrants
2.3.3.
Bargaining
Power of Suppliers
2.3.4.
Bargaining
Power of Buyers
2.3.5.
Threat
of Substitutes
3.
Market Determinants
3.1.
Market Drivers
3.1.1.
Drivers For Global Power Inverter Market:
Impact Analysis
3.2.
Market Pain Points and Challenges
3.2.1.
Restraints For Global Power Inverter Market:
Impact Analysis
3.3.
Market Opportunities
4.
Competitive Landscape
4.1.
Competitive
Dashboard – Power Inverter Market Revenue and Share by Manufacturers
·
Power
Inverter Product Comparison Analysis
·
Top
Market Player Ranking Matrix
4.2.
Key
Company Analysis
4.2.1.
ABB Ltd.
4.2.1.1.
Overview
4.2.1.2.
Product Portfolio
4.2.1.3.
Financial
Analysis (Subject to Data Availability)
4.2.1.4.
SWOT
Analysis
4.2.1.5.
Business
Strategy
4.2.2.
Delta
Electronics, Inc.
4.2.3.
TDK-Lambda Corp.
4.2.3.1.
Overview
4.2.3.2.
Product Portfolio
4.2.3.3.
Financial
Analysis (Subject to Data Availability)
4.2.3.4.
SWOT
Analysis
4.2.3.5.
Business
Strategy
4.2.4.
Huawei Technologies
Co., Ltd.
4.2.4.1.
Overview
4.2.4.2.
Product Portfolio
4.2.4.3.
Financial
Analysis (Subject to Data Availability)
4.2.4.4.
SWOT
Analysis
4.2.4.5.
Business
Strategy
4.2.5.
Sungrow Power Supply Co., Ltd.
4.2.5.1.
Overview
4.2.5.2.
Product Portfolio
4.2.5.3.
Financial
Analysis (Subject to Data Availability)
4.2.5.4.
SWOT
Analysis
4.2.5.5.
Business
Strategy
4.3.
Top
Winning Strategies by Market Players
4.3.1.
Merger
and Acquisition
4.3.2.
Product
Launch
4.3.3.
Partnership
And Collaboration
5.
Global Power Inverter Market
Sales Analysis by Type ($
Million)
5.1.
Inverter Source
5.1.1.
Current Source Inverter
5.1.2.
Voltage Source Inverter
5.2.
Load
5.2.1.
Single Phase Inverter
5.2.2.
Three Phase Inverter
6.
Global Power Inverter
Market Sales Analysis by End-User ($
Million)
6.1.
Automotive
6.2.
Energy
6.3.
Telecommunication
& IT
6.4.
Industrial
6.5.
Healthcare
6.6.
Infrastructure
6.7.
Residential
6.8.
Others
(Education & Research, Healthcare, Robotics & Automation, and Retail
& E-Commerce)
7.
Regional Analysis
7.1.
North
American Power Inverter Market Sales Analysis – Type | End-User | Country ($
Million)
·
Macroeconomic Factors for North
America
7.1.1.
United
States
7.1.2.
Canada
7.2.
European
Power Inverter Market Sales Analysis – Type | End-User | Country ($ Million)
1.
Global Power Inverter Market Research
And Analysis By Type, 2024-2035 ($ Million)
2. Global Power Inverter Market Research
And Analysis By Source, 2024-2035 ($ Million)
3. Global Current Source Inverter Market Research And Analysis By Region, 2024-2035 ($
Million)
4. Global Voltage Source Inverter Market Research And Analysis By Region, 2024-2035 ($
Million)
5. Global Power Inverter Market
Research And Analysis By Load, 2024-2035 ($ Million)
6. Global Single Phase Inverter Market Research And Analysis By Region, 2024-2035 ($
Million)
7. Global Three-Phase Inverter Market Research And Analysis By Region, 2024-2035 ($
Million)
8.
Global Power Inverter Market
Research And Analysis By End-User, 2024-2035 ($ Million)
9.
Global Power Inverter For Automotive
Market Research And Analysis By Region, 2024-2035 ($ Million)
10.
Global Power Inverter For Energy
Market Research And Analysis By Region, 2024-2035 ($ Million)
11.
Global Power Inverter For Telecommunication
& IT Market Research And Analysis By Region, 2024-2035 ($ Million)
12.
Global Power Inverter For Healthcare
Market Research And Analysis By Region, 2024-2035 ($ Million)
13.
Global Power Inverter For Infrastructure
Market Research And Analysis By Region, 2024-2035 ($ Million)
14.
Global Power Inverter For Residential
Market Research And Analysis By Region, 2024-2035 ($ Million)
15.
Global Power Inverter Market Research
And Analysis By Region, 2024-2035 ($ Million)
16.
North American Power Inverter Market
Research And Analysis By Country, 2024-2035 ($ Million)
17.
North American Power Inverter Market
Research And Analysis By Type, 2024-2035 ($ Million)
18.
North American Power Inverter
Market Research And Analysis By End-User, 2024-2035 ($ Million)
19.
European Power Inverter Market
Research And Analysis By Country, 2024-2035 ($ Million)
20.
European Power Inverter Market
Research And Analysis By Type, 2024-2035 ($ Million)
21.
European Power Inverter Market
Research And Analysis By End-User, 2024-2035 ($ Million)
22.
Asia-Pacific Power Inverter Market
Research And Analysis By Country, 2024-2035 ($ Million)
23.
Asia-Pacific Power Inverter Market
Research And Analysis By Type, 2024-2035 ($ Million)
24.
Asia-Pacific Power Inverter
Market Research And Analysis By End-User, 2024-2035 ($ Million)
25.
Rest Of The World Power
Inverter Market Research And Analysis By Region, 2024-2035 ($ Million)
26.
Rest Of The World Power
Inverter Market Research And Analysis By Type, 2024-2035 ($ Million)
27.
Rest Of The World Power
Inverter Market Research And Analysis By End-User, 2024-2035 ($ Million)
1.
Global Power Inverter Market
Share By Type, 2024 Vs 2035 (%)
2.
Global Power Inverter Market
Share By Source, 2024 Vs 2035 (%)
3.
Global Current Source Inverter
Market Share By Region, 2024 Vs 2035 (%)
4.
Global Voltage Source Inverter
Market Share By Region, 2024 Vs 2035 (%)
5.
Global Power Inverter Software Market
Share By Load, 2024 Vs 2035 (%)
6.
Global Single Phase Inverter Market
Share By Region, 2024 Vs 2035 (%)
7.
Global Three-Phase Inverter Market
Share By Region, 2024 Vs 2035 (%)
8.
Global Power Inverter Market
Share By End-User, 2024 Vs 2035 (%)
9.
Global Power Inverter For
Automotive Market Share By Region, 2024 Vs 2035 (%)
10.
Global Power Inverter For Energy
Market Share By Region, 2024 Vs 2035 (%)
11.
Global Power Inverter For Telecommunication
& IT Market Share By Region, 2024 Vs 2035 (%)
12.
Global Power Inverter For Industrial
Market Share By Region, 2024 Vs 2035 (%)
13.
Global Power Inverter For Healthcare
Market Share By Region, 2024 Vs 2035 (%)
14.
Global Power Inverter For Infrastructure
Market Share By Region, 2024 Vs 2035 (%)
15.
Global Power Inverter For Residential
Market Share By Region, 2024 Vs 2035 (%)
16.
Global Power Inverter Market Share By
Region, 2024 Vs 2035 (%)
17.
US Power Inverter Market Size, 2024-2035
($ Million)
18.
Canada Power Inverter Market
Size, 2024-2035 ($ Million)
19.
UK Power Inverter Market Size, 2024-2035
($ Million)
20.
France Power Inverter Market
Size, 2024-2035 ($ Million)
21.
Germany Power Inverter Market
Size, 2024-2035 ($ Million)
22.
Italy Power Inverter Market
Size, 2024-2035 ($ Million)
23.
Spain Power Inverter Market
Size, 2024-2035 ($ Million)
24.
Russia Power Inverter Market
Size, 2024-2035 ($ Million)
25.
Rest Of Europe Power Inverter Market
Size, 2024-2035 ($ Million)
26.
India Power Inverter Market
Size, 2024-2035 ($ Million)
27.
China Power Inverter Market
Size, 2024-2035 ($ Million)
28.
Japan Power Inverter Market
Size, 2024-2035 ($ Million)
29.
South Korea Power Inverter Market
Size, 2024-2035 ($ Million)
30.
ASEAN Power Inverter Market
Size, 2024-2035 ($ Million)
31.
Australia and New Zealand Power
Inverter Market Size, 2024-2035 ($ Million)
32.
Rest Of Asia-Pacific Power
Inverter Market Size, 2024-2035 ($ Million)
33.
Latin America Power Inverter Market
Size, 2024-2035 ($ Million)
34. Middle East And Africa Power Inverter Market Size, 2024-2035 ($ Million)
