$ 20.22 Billion Growth in Inverter Market During 2021-2025 | Featuring Key Vendors Including ABB Ltd., Danfoss AS, and Eaton Corporation Plc | Technavio
NEW YORK, March 26, 2021 /PRNewswire/ --
Technavio announces the release of its latest report on the inverter market. The market is segmented by application (motor drive, renewable energy, and UPS) and geography (APAC, Europe, North America, MEA, and South America). The report offers an in-depth analysis of recent developments, changes in market regulations, product approvals, product launches, and the market behavior across various segments.
Inverter Market: Key Findings
Inverter Market: Growth Drivers
The rise in wind energy consumption is one of the prime factors driving the growth of the market. The rising concern over GHG emissions is increasing investments in renewable energy sources such as wind power. Also, the rising cost of fossil fuels has compelled countries to look for alternate sources of energy such as wind and solar. These factors have increased the number of wind power installations, which is expected to drive the demand for wind power inverters over the forecast period.
"Growing support from governments for solar energy projects and increasing demand for clean power will further boost market growth during the forecast period", says a senior analyst at Technavio.
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Inverter Market: Major Vendors
ABB Ltd. operates its business through segments such as Electrification, Industrial Automation, Motion, Robotics & Discrete Automation, and Corporate and Other. The company offers a comprehensive range of power converters and inverters for use in a wide range of applications across all industries.
Danfoss AS operates its business through segments such as Danfoss Power Solutions, Danfoss Cooling, Danfoss Drives, and Danfoss Heating. The company provides a range of energy-efficient AC Drives for varied applications.
Eaton Corporation Plc
Eaton Corporation Plc operates its business through segments such as Electrical Products, Electrical Systems and Services, Hydraulics, Aerospace, Vehicle, and eMobility. The company provides DC Inverter solutions such as their Telecom Inverter solutions, Matrix 48Vdc Inverter solutions and Matrix 2000 Standalone Inverter.
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Global Motor Lamination Market – Global motor lamination market is segmented by material (silicon steel, cold rolled lamination steel, cobalt alloys, nickel alloys, and others) and geography (APAC, Europe, North America, MEA, and South America).
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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