The global power inverter market size reached a value of about USD 72.70 Billion in 2024. The market is further expected to increase at a CAGR of about 5.20% between 2025 and 2034 to reach a value of approximately USD 120.70 Billion by 2034.
Base Year
Historical Period
Forecast Period
Compound Annual Growth Rate
5.2%
Value in USD Billion
2025-2034
Power Inverter Market Outlook
*this image is indicative*
The global power inverter market is being dominated by the Asia Pacific region owing to the increased establishment of multinational companies in the region, due to low manufacturing costs and readily available cheap labour.
There are currently a variety of favourable factors driving the power inverter market. The industry growth is also boosted by technological innovations that have led to portable inverters that could be used to charge cell phones and tablets while commuting. Based on rating, 100KW to 495KW accounts for the largest share of the global power inverter market. On the basis of the application, the EMR report finds that motor drives account for the highest profit margins. Due to the high reliance on electronic devices, the market for motor drives is on the rise throughout the globe. The utilities sector, meanwhile, dominates the end-use sector.
Power inverter refers to an electronic system that converts direct current (DC) from solar panels, batteries, or high voltage DC transmission lines to alternating current (AC). It is used to run machines, equipment, as well as other residential and commercial electrical appliances. Unlike traditional generators, the inverter is usually smaller, lighter, and more energy-saving. Throughout the years, they have gained popularity by providing a highly efficient and reliable power source, offering low operating costs and reducing the inconvenience of switching.
On the basis of rating, the power inverter market can be divided into:
It finds wide application in the following sectors:
It finds its end-uses in the following sectors:
On the basis of region, the power inverter market can be divided into:
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With growing electrification as well as rapid urbanisation, most of the population is now dependent on electronic appliances and devices, including air conditioners, televisions, computers, and refrigerators, among others. It has resulted in a major demand for power inverters to provide an uninterrupted electricity source and an effective backup solution in the case of emergencies. In addition, inverters generate zero emissions while generating energy and are also substantially quieter in operation than standard generators. The manufacturers in the industry are making investments in R&D activities to develop new technologies that will improve the characteristics associated with the use of these inverters.
The report gives a detailed analysis of the following key players in the global power inverter market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
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In 2024, the global power inverter market attained a value of nearly USD 72.70 Billion.
In the forecast period of 2025-2034, the market is projected to grow at a CAGR of almost 5.20%.
By 2034, the market is estimated to reach a value of about USD 120.70 Billion.
The major drivers of the market include the growing popularity of portable inverters, the rising reliance on electronic devices, and the surging use of power inverters in the utility sector.
The key trends guiding the market are rapid electrification and urbanisation, the sustainable benefits of power inverters, and increasing investments in the development of new inverter technologies.
The major regions in the market are Latin America, North America, the Middle East and Africa, Europe, and the Asia Pacific.
The various rating segments considered in the market report are <5KW, 5kW to 100kW, 100kW to 500kW, and above 500kW.
The major applications of power inverter are motor drives, UPS, rail traction, wind turbines, EVs/HEVs, and solar PVs, among others.
The significant end uses of power inverter include utilities, residential, commercial and industrial, and automotive and transportation, among others.
The leading players in the market are Huawei Technologies Co., Ltd., SMA Solar Technology AG, Tabuchi Electric Co.,Ltd., OMRON Corporation, and SolarEdge Technologies Inc., among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Rating |
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| Breakup by Application |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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