Research Nester published a report titled “DC/AC Inverter Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global DC/AC inverter market in terms of market segmentation by module type, installation, output power rating, sales channel, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global DC/AC inverter market is estimated to occupy a sizeable revenue by growing at a CAGR of ~6% during the forecast period, i.e., 2022 – 2030, owing to the growing adoption of renewables for energy generation, and rapid growth of urbanization across the globe. Apart from these, growing dependability of people on electronic gadgets and appliances is also expected to drive market growth in the upcoming years.
The market is segmented by module type, installation, output power rating and sales channel. Based on output power rating, the below 10 kW segment is anticipated to grab the largest market share during the forecast period on the back of rise in installation of residential solar PV systems on rooftops. Additionally, by sales channel, the indirect segment is projected to gather the largest share over the forecast period in view of the presence of well-established sales networks of major players in the market.
Geographically, the global DC/AC inverter market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. Asia Pacific is evaluated to grab the largest share and witness noteworthy growth in the market during the forecast period attributing to the increasing demand for electricity in developing countries, surging trend of green energy, and promising growth of industrialization in the region. The population in China consumed about 7,510 terawatt hours of electricity in 2020, increasing up from 7,200 terawatt hours of electricity consumption in the year 2019.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Adoption of Renewables for Energy Generation Worldwide to Boost Market Growth
Rise in emphasis on emission-free production of energy, as a result of mounting pollution, is evaluated to impel the demand for renewable energy sources to generate electricity. Solar energy is one such renewable which is extensively being adopted for energy generation over the last few years. As DC/AC inverters have largescale applications with different types of solar installations all around the world, the market is projected to witness robust growth over the forecast period.
However, high maintenance cost of AC/DC inverters is expected to operate as key restraint to the growth of the global DC/AC inverter market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global DC/AC inverter market which includes company profiling of SMA Solar Technology AG, Omron Corporation, Huawei Technologies Co., Ltd., TMEIC, ABB Ltd., Schneider Electric SE, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global DC/AC inverter market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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