08 April 2021
The new report the Inverter Market Report to 2031: Forecasts by Type (Solar Inverter and Non-solar Inverter), Power Rating (Below 10 kW, 10–50 kW, 50–100 kW, and Above 100 kW), Output Voltage (Less than 300 V, 300–500 V, and Above 500 V), Sales Channel (Offline and Online), End User (Residential, Commercial, and Industrial), by Region, Country, and Profiles of Leading Companies indicates that the Global Inverter Market will see $ XX bn in spending in 2020.
The lead analyst of the report said: "The Inverter Market is about to enter a period of phenomenal growth and innovation. The next ten years will see the upsurge demand of the inverter."
The inverter market is probable to exhibit lucrative growth potential throughout the forecast period. The inverter market's growth is expected to be driven by increasing residential solar rooftop installations and surging demand for various vehicles' household devices. The market also witnesses many opportunities that can be explored by existing and entry-level companies to expand their businesses. Such opportunities include the development of PV hybrid inverter and smart solar inverter during the forecast period.
Anticipated growth in the global inverter market can be attributed to increasing demand for power backup solutions across residential, commercial, and industrial sectors. Moreover, the government's initiatives to improve the global electrification rate, coupled with technological developments, are further expected to influence the global inverter market near the forecast period. Rising demand from tier 2 and tier 3 cities is expected to steer India's growth inverter market over the forecast period.
The eruption of the COVID-19 pandemic is causing a massive drop in the inverters market growth of the global market in 2020 and later. However, it is expected that the investment in solar inverter manufacturing may result in the debilitating effect of COVID-19 (Coronavirus) on the overall market.
The XX page report contains 145 tables and 305 graphs that add visual analysis to explain developing trends within the inverter market. The report provides $ XX bn forecasts during the forecast period 2021-2031 for the Inverter submarkets, namely by power rating, i.e., below 10 kW, 10–50 kW, 50–100 kW, and above 100 kW.
The XX page report offers market forecasts and analysis for 24 leading national markets and the rest of the world market. In addition, the report contains a dedicated leading companies' chapter covering more than 15 companies leading the field in the inverter.
The global inverter market 2021-2031 report will be of value to anyone who wants to understand better the inverter market and its various segments. It will be useful for businesses who wish to comprehend the part of the market better they are already involved in, or those wishing to enter or expand into a different regional or technical aspect of the inverter industry.
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