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$ 20.22 Billion Growth in Inverter Market During 2021-2025 | Featuring Key Vendors Including ABB Ltd., Danfoss AS, and Eaton Corporation Plc | Technavio
[March 26, 2021]

$ 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.

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Inverter Market: Key Findings

  • Inverter market value to grow by USD 20.22 billion at almost 5% CAGR during 2021-2025
  • Based on the application, the motor drive segment will offer maximum opportunities for vendors during the forecast period
  • Based on the geography, APAC dominated the market with a 41% share in 2020
  • Inverter market is expected to have a negative impact due to the spread of COVID-19

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.


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

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.

Related Reports on Industrials Include:

Global Automotive On-board Power Inverter Market – Global automotive on-board power inverter market is segmented by power range (up to 150W and more than 150W), application (passenger cars and LCVs), and geography (APAC, Europe, MEA, North America, and South America). 

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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). 

Get an Exclusive Free Sample Report

About Technavio

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.

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Report: www.technavio.com/report/inverter-market-industry-analysis

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SOURCE Technavio


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