New York, June 13, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Inverter Market by Type, Rated Output Power, End User, Connection, Voltage, Sales Channel and Region – Global Forecast to 2027” – https://www.reportlinker.com/p05863998/?utm_source=GNW
Countries’ climate change goals to achieve net zero targets are moving them towards sustainable development, which has increased the demand for electric vehicles and technological advancements in the development of high power density inverters for various power applications. end users are expected to provide lucrative opportunities for the inverter market during the forecast period.
Vehicle Inverters: Fastest Growing Inverter Market Segment, By Inverter Type
The inverter type segment is categorized as solar inverters, vehicle inverters and others. The others segment includes UPS inverters and battery inverters.
The major requirement for in-vehicle electronic applications, rising concerns over ambitious government targets for electric vehicles in countries, and supporting policies that have reduced the costs of electric vehicles are expected to fuel the growth of the segment in during the forecast period.
The residential segment is expected to emerge as the largest end-user based segment
The inverter market has been segmented on the basis of end-user industry into residential, automotive, photovoltaic (PV) and others. The others segment includes commercial, industrial and utility sectors.
The residential segment is expected to hold the largest market share owing to the increase in installations of rooftop solar PV systems. Emerging markets such as Asia-Pacific, South America, the Middle East and Africa, and Europe are expected to be key drivers of this growth, supported by government support programs that subsidize installations .
North America is expected to be the second largest and fastest growing market over the forecast period.
North America is expected to be the second fastest growing market owing to the growing awareness among various sectors about the benefits of solar PV installations. Strict emission standards for vehicles and a transition to sustainable transport through electric vehicles.
Thus propelling the growth of inverters in this region.
Distribution of primaries:
In-depth interviews were conducted with various key industry players, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify information critical qualitative and quantitative, as well as to assess the future prospects of the market. The breakdown of primary interviews is as follows:
• By type of business: Level 1: 47.2%, Level 2: 30.7% and Level 3: 22.1%
• By designation: C level – 42.1%, managers – 39.6% and other – 18.3%
By region: North America – 35%, Europe – 20%, Asia-Pacific – 30%, Middle East and Africa – 10% and South America – 5%
Note: Other includes Product Engineers, Product Specialists, and Technical Managers.
Note: Company tiers are defined based on their total revenue as of 2021. Tier 1: >$1 billion, Tier 2: $500 million to $1 billion, and Tier 3: The inverter market is dominated by a few major players that have a broad regional presence. The major players in the inverter market are Huawei Technologies (China), Sungrow Power Supply (China), SMA Solar Technology (Germany), Power Electronics (Spain), FIMER (Italy).
The report defines, describes and forecasts the global UPS market, by UPS type, output power rating, output voltage, sales channel, connection type, end users, and region. It also offers detailed qualitative and quantitative analysis of the market.
The report provides a comprehensive review of key market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market.
These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future inverter market trends.
Key Benefits of Purchasing the Report
1. The report identifies and discusses the major inverter markets, which would help equipment manufacturers to examine the growth in demand.
2. The report helps system vendors understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players to better understand their competitors’ strategies and help them to make better strategic decisions.
Read the full report: https://www.reportlinker.com/p05863998/?utm_source=GNW
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