A report on the global inverter market 2017-2021
08 February 2017
Technavio’s market research analyst predicts the global inverter market will grow steadily at a Compound Annual Growth Rate (CAGR) of 6 percent by 2021.
The report states that one of the reasons for this growth in market is the rise of wind energy. Countries are now focusing on the use of renewable sources to reduce power and wind is the most efficient source of power generation. This growing focus on wind energy will fuel the demand for wind turbine inverters because they can increase the rotational speed and energy output whilst ensuring a high rate of return for investors.
End-users are also embracing alternative forms of energy instead of depending on power generators that operate on fossil fuels. According to the report, solar power, wind power, and other forms of renewable energy are gaining popularity among all categories of electricity end-users. This shift of end-users coupled with various government initiatives will drive the inverter market in the coming years.
Technavio’s research identifies suppliers like ABB, Bonfiglioli, GE, Schneider Electric, and SMA Solar Technology to be key vendors in the global inverter market. Other prominent vendors in the inverter market include Mitsubishi Electric, Danfoss, ALSTOM, Siemens, Delta Electronics, KACO new energy, Eaton, Power One Micro Systems, Vertiv, OMRON, Enphase Energy, TABUCHI ELECTRIC, Fronius International, Huawei Technologies, Advanced Energy Industries, and Sungrow.
It also presents a detailed segmentation of the global market by application (motor drive, renewable energy, UPS, and others) and by geography (the Americas, APAC, and EMEA).
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