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Inverter Market (Product Type: PV Inverter System and Battery Inverter; and Load: Single Phase Inverter and Three Phase Inverter) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2023-2031

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KSA 23.10.24

Inverter Market - Scope of Report

TMR's report on the global inverter market studies the past as well as the current growth trends and opportunities to gain valuable insights of the indicators of the market during the forecast period from 2023 to 2031. The report provides revenue of the global inverter market for the period 2017-2031, considering 2023 as the base year and 2031 as the forecast year. The report also provides the compound annual growth rate (CAGR %) of the global inverter market from 2023 to 2031.

The report has been prepared after an extensive research. Primary research involved bulk of the research efforts, wherein analysts carried out interviews with key opinion leaders, industry leaders, and opinion makers. Secondary research involved referring to key players' product literature, annual reports, press releases, and relevant documents to understand the inverter market.

Market Snapshot
Market Value in 2023US$ 15 Bn
Market Value in 2031US$ 25.6 Bn
CAGR6.1%

Secondary research also included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts employed a combination of top-down and bottom-up approaches to study various attributes of the global inverter market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Moreover, the report throws light on the changing competitive dynamics in the global inverter market. These serve as valuable tools for existing market players as well as for entities interested in participating in the global inverter market.

The report delves into the competitive landscape of the global inverter market. Key players operating in the global inverter market have been identified and each one of these has been profiled in terms of various attributes. Company overview, financial standings, recent developments, and SWOT are the attributes of players in the global inverter market profiled in this report.

Key Questions Answered in Global Inverter Market Report:

  • What is the sales/revenue generated by inverter across all regions during the forecast period?
  • What are the opportunities in the global inverter market?
  • What are the major drivers, restraints, opportunities, and threats in the market?
  • Which regional market is set to expand at the fastest CAGR during the forecast period?
  • Which segment is expected to generate the highest revenue globally in 2031?
  • Which segment is projected to expand at the highest CAGR during the forecast period?
  • What are the market positions of different companies operating in the global market?

Inverter Market - Research Objectives and Research Approach

The comprehensive report on the global inverter market begins with an overview, followed by the scope and objectives of the study. The report provides detailed explanation of the objectives behind this study and key vendors and distributors operating in the market and regulatory scenario for approval of products.

For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into smaller ones. The report comprises an exhaustive collection of graphs and tables that are appropriately interspersed. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.

The report analyzes the global inverter market in terms of product, end-user, and region. Key segments under each criterion have been studied at length, and the market share for each of these at the end of 2031 has been provided. Such valuable insights enable market stakeholders in making informed business decisions for investment in the global inverter market.

Table of Contents

1. Preface

  • 1.1. Market Definition and Scope
  • 1.2. Market Segmentation
  • 1.3. Key Research Objectives
  • 1.4. Research Highlights

2. Assumptions

3. Research Methodology

4. Executive Summary

5. Market Overview

  • 5.1. Introduction
  • 5.2. Market Dynamics
    • 5.2.1. Drivers
    • 5.2.2. Restraints
    • 5.2.3. Opportunities
  • 5.3. Key Trends Analysis
    • 5.3.1. Demand Side Analysis
    • 5.3.2. Supply Side Analysis
  • 5.4. Key Market Indicators
  • 5.5. Porter's Five Forces Analysis
  • 5.6. Industry SWOT Analysis
  • 5.7. Value Chain Analysis
  • 5.8. Key Regulatory Framework
  • 5.9. Global Inverter Market Analysis and Forecast, 2017 - 2031
    • 5.9.1. Market Value Projections (US$ Bn)
    • 5.9.2. Market Volume Projections (Units)

6. Global Inverter Market Analysis and Forecast, By Product Type

  • 6.1. Inverter Market Size (US$ Bn and Units) Forecast, By Product Type, 2017 - 2031
    • 6.1.1. PV Inverter System
      • 6.1.1.1. Central Inverter
      • 6.1.1.2. String Inverter
    • 6.1.2. Battery Inverter
  • 6.2. Incremental Opportunity, By Product Type

7. Global Inverter Market Analysis and Forecast, By Load

  • 7.1. Inverter Market Size (US$ Bn and Units) Forecast, Load, 2017 - 2031
    • 7.1.1. Single Phase Inverter
    • 7.1.2. Three Phase Inverter
  • 7.2. Incremental Opportunity, By Load

8. Global Inverter Market Analysis and Forecast, By Capacity

  • 8.1. Inverter Market Size (US$ Bn and Units) Forecast, Capacity, 2017 - 2031
    • 8.1.1. Up to 10kW
    • 8.1.2. 10kW-15kW
    • 8.1.3. 15kW-20kW
    • 8.1.4. Above 20kW
  • 8.2. Incremental Opportunity, By Capacity

9. Global Inverter Market Analysis and Forecast, By Installation

  • 9.1. Inverter Market Size (US$ Bn and Units) Forecast, Installation, 2017 - 2031
    • 9.1.1. Indoor
    • 9.1.2. Outdoor
  • 9.2. Incremental Opportunity, By Installation

10. Global Inverter Market Analysis and Forecast, By End-user

  • 10.1. Inverter Market Size (US$ Bn and Units) Forecast, End User, 2017 - 2031
    • 10.1.1. Residential
    • 10.1.2. Commercial
      • 10.1.2.1. Offices
      • 10.1.2.2. Institutions
      • 10.1.2.3. Malls
      • 10.1.2.4. Theaters
      • 10.1.2.5. Others
    • 10.1.3. Industrial
      • 10.1.3.1. Renewable Energy
      • 10.1.3.2. Automotive
      • 10.1.3.3. Food & Beverage
      • 10.1.3.4. Others
  • 10.2. Incremental Opportunity, By End-user

11. Global Inverter Market Analysis and Forecast, By Distribution Channel

  • 11.1. Inverter Market Size (US$ Bn and Units) Forecast, Distribution Channel, 2017 - 2031
    • 11.1.1. Direct Sales
    • 11.1.2. Indirect Sales
  • 11.2. Incremental Opportunity, By Distribution Channel

12. Global Inverter Market Analysis and Forecast, By Region

  • 12.1. Inverter Market Size (US$ Bn and Units) Forecast, By Region, 2017 - 2031
    • 12.1.1. North America
    • 12.1.2. Europe
    • 12.1.3. Asia Pacific
    • 12.1.4. Middle East & Africa
    • 12.1.5. South America
  • 12.2. Incremental Opportunity, By Region

13. North America Inverter Market Analysis and Forecast

  • 13.1. Regional Snapshot
  • 13.2. Macroeconomic Scenario
  • 13.3. Key Brand Analysis
  • 13.4. Price Trend Analysis
    • 13.4.1. Weighted Average Price
  • 13.5. Key Trends Analysis
    • 13.5.1. Demand Side
    • 13.5.2. Supplier Side
  • 13.6. Inverter Market Size (US$ Bn and Units) Forecast, By Product Type, 2017 - 2031
    • 13.6.1. PV Inverter System
      • 13.6.1.1. Central Inverter
      • 13.6.1.2. String Inverter
    • 13.6.2. Battery Inverter
  • 13.7. Inverter Market Size (US$ Bn and Units) Forecast, Load, 2017 - 2031
    • 13.7.1. Single Phase Inverter
    • 13.7.2. Three Phase Inverter
  • 13.8. Inverter Market Size (US$ Bn and Units) Forecast, Capacity, 2017 - 2031
    • 13.8.1. Up to 10kW
    • 13.8.2. 10kW-15kW
    • 13.8.3. 15kW-20kW
    • 13.8.4. Above 20kW
  • 13.9. Inverter Market Size (US$ Bn and Units) Forecast, Installation, 2017 - 2031
    • 13.9.1. Indoor
    • 13.9.2. Outdoor
  • 13.10. Inverter Market Size (US$ Bn and Units) Forecast, End-user, 2017 - 2031
    • 13.10.1. Residential
    • 13.10.2. Commercial
      • 13.10.2.1. Offices
      • 13.10.2.2. Institutions
      • 13.10.2.3. Malls
      • 13.10.2.4. Theaters
      • 13.10.2.5. Others
    • 13.10.3. Industrial
      • 13.10.3.1. Renewable Energy
      • 13.10.3.2. Automotive
      • 13.10.3.3. Food & Beverage
      • 13.10.3.4. Others
  • 13.11. Inverter Market Size (US$ Bn and Units) Forecast, Distribution Channel, 2017 - 2031
    • 13.11.1. Direct Sales
    • 13.11.2. Indirect Sales
  • 13.12. Inverter Market Size (US$ Bn and Units) Forecast, By Country/Sub-region, 2017 - 2031
    • 13.12.1. U.S
    • 13.12.2. Canada
    • 13.12.3. Rest of North America
  • 13.13. Incremental Opportunity Analysis

14. Europe Inverter Market Analysis and Forecast

  • 14.1. Regional Snapshot
  • 14.2. Macroeconomic Scenario
  • 14.3. Key Brand Analysis
  • 14.4. Price Trend Analysis
    • 14.4.1. Weighted Average Price
  • 14.5. Key Trends Analysis
    • 14.5.1. Demand Side
    • 14.5.2. Supplier Side
  • 14.6. Inverter Market Size (US$ Bn and Units) Forecast, By Product Type, 2017 - 2031
    • 14.6.1. PV Inverter System
      • 14.6.1.1. Central Inverter
      • 14.6.1.2. String Inverter
    • 14.6.2. Battery Inverter
  • 14.7. Inverter Market Size (US$ Bn and Units) Forecast, Load, 2017 - 2031
    • 14.7.1. Single Phase Inverter
    • 14.7.2. Three Phase Inverter
  • 14.8. Inverter Market Size (US$ Bn and Units) Forecast, Capacity, 2017 - 2031
    • 14.8.1. Up to 10 kW
    • 14.8.2. 10kW-15kW
    • 14.8.3. 15kW-20kW
    • 14.8.4. Above 20kW
  • 14.9. Inverter Market Size (US$ Bn and Units) Forecast, Installation, 2017 - 2031
    • 14.9.1. Indoor
    • 14.9.2. Outdoor
  • 14.10. Inverter Market Size (US$ Bn and Units) Forecast, End-user, 2017 - 2031
    • 14.10.1. Residential
    • 14.10.2. Commercial
      • 14.10.2.1. Offices
      • 14.10.2.2. Institutions
      • 14.10.2.3. Malls
      • 14.10.2.4. Theaters
      • 14.10.2.5. Others
    • 14.10.3. Industrial
      • 14.10.3.1. Renewable Energy
      • 14.10.3.2. Automotive
      • 14.10.3.3. Food & Beverage
      • 14.10.3.4. Others
  • 14.11. Inverter Market Size (US$ Bn and Units) Forecast, Distribution Channel, 2017 - 2031
    • 14.11.1. Direct Sales
    • 14.11.2. Indirect Sales
  • 14.12. Inverter Market Size (US$ Bn and Units) Forecast, By Country/Sub-region, 2017 - 2031
    • 14.12.1. U.K
    • 14.12.2. Germany
    • 14.12.3. France
    • 14.12.4. Rest of Europe
  • 14.13. Incremental Opportunity Analysis

15. Asia Pacific Inverter Market Analysis and Forecast

  • 15.1. Regional Snapshot
  • 15.2. Macroeconomic Scenario
  • 15.3. Key Brand Analysis
  • 15.4. Key Trends Analysis
    • 15.4.1. Demand Side
    • 15.4.2. Supplier Side
  • 15.5. Inverter Market Size (US$ Bn and Units) Forecast, By Product Type, 2017 - 2031
    • 15.5.1. PV Inverter System
      • 15.5.1.1. Central Inverter
      • 15.5.1.2. String Inverter
    • 15.5.2. Battery Inverter
  • 15.6. Inverter Market Size (US$ Bn and Units) Forecast, Load, 2017 - 2031
    • 15.6.1. Single Phase Inverter
    • 15.6.2. Three Phase Inverter
  • 15.7. Inverter Market Size (US$ Bn and Units) Forecast, Capacity, 2017 - 2031
    • 15.7.1. Up to 10kW
    • 15.7.2. 10kW-15 kW
    • 15.7.3. 15kW-20kW
    • 15.7.4. Above 20kW
  • 15.8. Inverter Market Size (US$ Bn and Units) Forecast, Installation, 2017 - 2031
    • 15.8.1. Indoor
    • 15.8.2. Outdoor
  • 15.9. Inverter Market Size (US$ Bn and Units) Forecast, End-user, 2017 - 2031
    • 15.9.1. Residential
    • 15.9.2. Commercial
      • 15.9.2.1. Offices
      • 15.9.2.2. Institutions
      • 15.9.2.3. Malls
      • 15.9.2.4. Theaters
      • 15.9.2.5. Others
    • 15.9.3. Industrial
      • 15.9.3.1. Renewable Energy
      • 15.9.3.2. Automotive
      • 15.9.3.3. Food & Beverage
      • 15.9.3.4. Others
  • 15.10. Inverter Market Size (US$ Bn and Units) Forecast, Distribution Channel, 2017 - 2031
    • 15.10.1. Direct Sales
    • 15.10.2. Indirect Sales
  • 15.11. Inverter Market Size (US$ Bn and Units) Forecast, By Country/Sub-region, 2017 - 2031
    • 15.11.1. India
    • 15.11.2. China
    • 15.11.3. Japan
    • 15.11.4. Rest of Asia Pacific
  • 15.12. Incremental Opportunity Analysis

16. Middle East & Africa Inverter Market Analysis and Forecast

  • 16.1. Regional Snapshot
  • 16.2. Macroeconomic Scenario
  • 16.3. Key Brand Analysis
  • 16.4. Price Trend Analysis
    • 16.4.1. Weighted Average Price
  • 16.5. Key Trends Analysis
    • 16.5.1. Demand Side
    • 16.5.2. Supplier Side
  • 16.6. Inverter Market Size (US$ Bn and Units) Forecast, By Product Type, 2017 - 2031
    • 16.6.1. PV Inverter System
      • 16.6.1.1. Central Inverter
      • 16.6.1.2. String Inverter
    • 16.6.2. Battery Inverter
  • 16.7. Inverter Market Size (US$ Bn and Units) Forecast, Load, 2017 - 2031
    • 16.7.1. Single Phase Inverter
    • 16.7.2. Three Phase Inverter
  • 16.8. Inverter Market Size (US$ Bn and Units) Forecast, Capacity, 2017 - 2031
    • 16.8.1. Up to 10kW
    • 16.8.2. 10kW-15kW
    • 16.8.3. 15kW-20kW
    • 16.8.4. Above 20kW
  • 16.9. Inverter Market Size (US$ Bn and Units) Forecast, Installation, 2017 - 2031
    • 16.9.1. Indoor
    • 16.9.2. Outdoor
  • 16.10. Inverter Market Size (US$ Bn and Units) Forecast, End-user, 2017 - 2031
    • 16.10.1. Residential
    • 16.10.2. Commercial
      • 16.10.2.1. Offices
      • 16.10.2.2. Institutions
      • 16.10.2.3. Malls
      • 16.10.2.4. Theaters
      • 16.10.2.5. Others
    • 16.10.3. Industrial
      • 16.10.3.1. Renewable Energy
      • 16.10.3.2. Automotive
      • 16.10.3.3. Food & Beverage
      • 16.10.3.4. Others
  • 16.11. Inverter Market Size (US$ Bn and Units) Forecast, Distribution Channel, 2017 - 2031
    • 16.11.1. Direct Sales
    • 16.11.2. Indirect Sales
  • 16.12. Inverter Market Size (US$ Bn and Units) Forecast, By Country/Sub-region, 2017 - 2031
    • 16.12.1. GCC
    • 16.12.2. South Africa
    • 16.12.3. Rest of MEA
  • 16.13. Incremental Opportunity Analysis

17. South America Inverter Market Analysis and Forecast

  • 17.1. Regional Snapshot
  • 17.2. Macroeconomic Scenario
  • 17.3. Key Brand Analysis
  • 17.4. Price Trend Analysis
    • 17.4.1. Weighted Average Price
  • 17.5. Key Trends Analysis
    • 17.5.1. Demand Side
    • 17.5.2. Supplier Side
  • 17.6. Inverter Market Size (US$ Bn and Units) Forecast, By Product Type, 2017 - 2031
    • 17.6.1. PV Inverter System
      • 17.6.1.1. Central Inverter
      • 17.6.1.2. String Inverter
    • 17.6.2. Battery Inverter
  • 17.7. Inverter Market Size (US$ Bn and Units) Forecast, Load, 2017 - 2031
    • 17.7.1. Single Phase Inverter
    • 17.7.2. Three Phase Inverter
  • 17.8. Inverter Market Size (US$ Bn and Units) Forecast, Capacity, 2017 - 2031
    • 17.8.1. Up to 10kW
    • 17.8.2. 10kW-15kW
    • 17.8.3. 15kW-20kW
    • 17.8.4. Above 20kW
  • 17.9. Inverter Market Size (US$ Bn and Units) Forecast, Installation, 2017 - 2031
    • 17.9.1. Indoor
    • 17.9.2. Outdoor
  • 17.10. Inverter Market Size (US$ Bn and Units) Forecast, End-user, 2017 - 2031
    • 17.10.1. Residential
    • 17.10.2. Commercial
      • 17.10.2.1. Offices
      • 17.10.2.2. Institutions
      • 17.10.2.3. Malls
      • 17.10.2.4. Theaters
      • 17.10.2.5. Others
    • 17.10.3. Industrial
      • 17.10.3.1. Renewable Energy
      • 17.10.3.2. Automotive
      • 17.10.3.3. Food & Beverage
      • 17.10.3.4. Others
  • 17.11. Inverter Market Size (US$ Bn and Units) Forecast, Distribution Channel, 2017 - 2031
    • 17.11.1. Direct Sales
    • 17.11.2. Indirect Sales
  • 17.12. Inverter Market Size (US$ Bn and Units) Forecast, By Country/Sub-region, 2017 - 2031
    • 17.12.1. Brazil
    • 17.12.2. Rest of South America
  • 17.13. Incremental Opportunity Analysis

18. Competition Landscape

  • 18.1. Market Player - Competition Dashboard
  • 18.2. Market Share Analysis (%), by Company, (2022)
  • 18.3. Company Profiles (Details - Company Overview, Sales Area/Geographical Presence, Revenue, Strategy & Business Overview)
    • 18.3.1. Delta Electronics, Inc.
      • 18.3.1.1. Company Overview
      • 18.3.1.2. Sales Area/Geographical Presence
      • 18.3.1.3. Revenue
      • 18.3.1.4. Strategy & Business Overview
    • 18.3.2. Enphase Energy
      • 18.3.2.1. Company Overview
      • 18.3.2.2. Sales Area/Geographical Presence
      • 18.3.2.3. Revenue
      • 18.3.2.4. Strategy & Business Overview
    • 18.3.3. Fronius International GmbH
      • 18.3.3.1. Company Overview
      • 18.3.3.2. Sales Area/Geographical Presence
      • 18.3.3.3. Revenue
      • 18.3.3.4. Strategy & Business Overview
    • 18.3.4. General Electric Company
      • 18.3.4.1. Company Overview
      • 18.3.4.2. Sales Area/Geographical Presence
      • 18.3.4.3. Revenue
      • 18.3.4.4. Strategy & Business Overview
    • 18.3.5. GoodWe
      • 18.3.5.1. Company Overview
      • 18.3.5.2. Sales Area/Geographical Presence
      • 18.3.5.3. Revenue
      • 18.3.5.4. Strategy & Business Overview
    • 18.3.6. KACO new energy GmbH
      • 18.3.6.1. Company Overview
      • 18.3.6.2. Sales Area/Geographical Presence
      • 18.3.6.3. Revenue
      • 18.3.6.4. Strategy & Business Overview
    • 18.3.7. Mitsubishi Electric Corporation
      • 18.3.7.1. Company Overview
      • 18.3.7.2. Sales Area/Geographical Presence
      • 18.3.7.3. Revenue
      • 18.3.7.4. Strategy & Business Overview
    • 18.3.8. Schneider Electric
      • 18.3.8.1. Company Overview
      • 18.3.8.2. Sales Area/Geographical Presence
      • 18.3.8.3. Revenue
      • 18.3.8.4. Strategy & Business Overview
    • 18.3.9. SolarEdge
      • 18.3.9.1. Company Overview
      • 18.3.9.2. Sales Area/Geographical Presence
      • 18.3.9.3. Revenue
      • 18.3.9.4. Strategy & Business Overview
    • 18.3.10. TMEIC
      • 18.3.10.1. Company Overview
      • 18.3.10.2. Sales Area/Geographical Presence
      • 18.3.10.3. Revenue
      • 18.3.10.4. Strategy & Business Overview

19. Go to Market Strategy

  • 19.1. Identification of Potential Market Spaces
    • 19.1.1. By Product Type
    • 19.1.2. By Load
    • 19.1.3. By Capacity
    • 19.1.4. By Installation
    • 19.1.5. By End-user
    • 19.1.6. By Distribution Channel
    • 19.1.7. By Region
  • 19.2. Preferred Sales & Marketing Strategy
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