The demand for electricity is increasing due to rise in standardization and urbanization, which is creating a challenge for the electricity producer to generate electricity with respect to the required demand. Pertaining to incompatible in demand and supply of electricity, many a places witnesses’ long power cuts. So to avoid power cut and to receive uninterrupted power supply, the demand and usage of power Inverter has been increased significantly.
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Power Inverter Market: Drivers and Restraints
Owing to the increase in demand for the uninterrupted power supply to run an electronic gadgets such as television, laptops, air conditioners, and refrigerators is the major factor spurring the growth of power inverter market.
In addition increase in urbanization in emerging economies such as India and increase in rural electrification projects (such as lighting Africa) are coupled together to surge the growth of the power inverter market during the forecast period.
Also, the demand for uninterrupted power supply in corporate offices, schools and other commercial places is the piloting the growth of the power inverter market.
High product cost paired with low battery lifespan is the major factor restraining the adoption of power inverter in forth coming years. If battery attached with power inverters are not in continuous use, the chances of battery deterioration are high, which is another challenge associated with the power inverter.
Global Power Inverter Market: Regional Trend
Increase in urbanization and rural electrification rates are coupled together to spur the growth of power inverter market in the Asia Pacific region.
Early adopters of technology; North America and Europe are the mature markets with respect to the power inverter market, owing to which, these regions are anticipated to showcase moderate growth rate with respect to power inverter market.
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Global Power Inverter Market: Competitive Landscape
Key Players
The major player operating in Power Inverter market includes Omron Automation Pvt Ltd, TMEIC, Tabuchi Electric Co., LTD., SMA Solar Technology, ABB Ltd., Samlex America Inc., Thor Manufactures, and PowerBright.
Key Contracts
In August 2016, energy management and automation solutions provider; Schneider Electric SE Installed a 1,800-Watt power inverter on all new Schneider’s tractors to provide enhance the electrical capacity of the tractor.
The report covers exhaustive analysis on:
- Global Power Inverter Market Segments
- Global Power Inverter Market Dynamics
- Historical Actual Market Size, 2012 – 2016
- Global Power Inverter Market Size & Forecast 2017 to 2027
- Supply & Demand Value Chain for Power Inverter Market
- Global Power Inverter Market Current Trends/Issues/Challenges
- Competition & Companies involved in Power Inverter Market
- Power Inverter Market Solutions Technology
- Value Chain of Power Inverter Market
- Global Power Inverter Market Drivers and Restraints
Regional analysis for Global Power Inverter Market includes
- North America Market
- US
- Canada
- Latin America Market
- Argentina
- Mexico
- Brazil
- Rest of Latin America
- Western Europe Market
- Germany
- France
- U.K.
- Spain
- Italy
- Nordic
- Benelux
- Rest of Western Europe
- Eastern Europe Market
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific Market
- Australia and New Zealand (A&NZ)
- China
- India
- ASEAN
- Rest of Asia Pacific
- Japan Market
- Middle East and Africa Market
- GCC Countries
- North Africa
- South Africa
- Rest of MEA
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Global Power Inverter Market can be divided into three segments, on the base of Product Type, Application, and Region.
Segmentation on the basis of the voltage type for Power Inverter Market as:-
- Less than 5KW
- 5-95 KW
- 100-495 KW
- More than 500 KW
Segmentation on the basis of the application for Power Inverter Market as:-
- Solar PVs
- Motor Drives
- EVs/HEVs
- Rail Traction
- UPS
- Wind Turbines
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Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.