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Digital Inverter Market Status (2018-2022) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2022-2030

Format: PDF | Pages: 388 | Report ID: MRS1249


Report Description

The global Digital Inverter market size was valued at USD 6,909.2 million in 2022, expanding at a CAGR of 7.2% from 2023-2030 to reach 12,800.7 Million USD in 2030.

Market Dynamics

The Digital Inverter market is expected to witness substantial growth over the forecast period. As the essential building component for many binary devices, the digital inverter accepts a binary input and outputs another binary. It is implanted with parts like the compressor, which is utilized to create the DC output and when used in compressors, also aids in lowering energy usage and aids in temperature control. Increased demand from both the commercial and industrial sectors, increased significant capital inflows into the renewable energy sector, increased demand from both the commercial and industrial sectors, increased need for the durability of the products, increased limitations of conventional products such as disruptive noises, and others are all contributing to an acceleration of market growth. Additionally, rising reliability and safety increased output, and increased cost-efficiency boosted market growth.

But as a result of their limited availability in the market, there needs to be more awareness about such superior products, which is hurting sales and acting as one of the major factors limiting the market growth. This will further challenge the growth of the digital inverter market during the forecast period mentioned above. 

Regional Insights

North America currently holds a dominant position in the digital inverter market as a result of the region's rising rate of technological adoption, expanding use of digital inverters in a variety of applications, rising demand from both the commercial and industrial sectors, and rising limitations of conventional products like disruptive noises and abrupt starts. Due to the potential expanding opportunities in the region's emerging economies, including China, India, and Japan, Asia-Pacific is likely to see growth.

Segment Dynamics

The Digital Inverter market is fragmented into the type and applications segments. Based on the type, the central inverter segment is anticipated to dominate the market. By application, the utility segment of the market is projected to grow at the highest CAGR during the forecasted period. 

Competitive Insights

The competition in the Digital Inverter market is intense, with both local and international players vying for a share. Industry leaders are engaging in mergers and acquisitions, partnerships, and product launches to maintain their competitive edge. For instance, in September 2022, Samsung introduced its EcoBubble range of fully automatic washing machines, which use Digital Inverter Technology to provide up to 20% better fabric care and energy savings. Meanwhile, Haier launched its new digital inverter refrigerator series in April 2022.

This report provides an overview of industry structure and environment, as well as market analysis and forecasting of Digital Inverters by type, region, and application. It includes market competition analysis, vendor profiles, and price and value chain analysis.

Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products, etc.):

  • Schneider Electric
  • KOSTAL Solar Electric GmbH
  • SUNGROW
  • Carrier Airconditioning & Refrigeration Ltd. India
  • Advanced Energy Industries, Inc.
  • Cognito Quam Electrotechnologies Ltd.
  • Protonix Fortuner India Private Limited
  • Lzen Electronics India.
  • Instant Power Engineering, India Power System
  • Solarstate Technologies
  • M/S Sherin Enterprises
  • Win Min E Power Systems
  • Purevolt Products Private Limited
  • Power Consilium System
  • Narson Enterprises

Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Central Inverter
  • String Inverter
  • Micro Inverter

Application Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Utilities
  • Commercial
  • Residential

Region Coverage (Regional Consumption, Demand & Forecast by Countries, etc.):

  • North America (U.S., and Canada)
  • Europe (Germany, U.K., France, Italy, Spain, etc.)
  • Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
  • South America (Brazil, Mexico, Argentina, etc.)
  • Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa, etc.)

Frequently Asked Questions

The global Digital Inverter market size was valued at USD 6,909.2 million in 2022, expanding at a CAGR 7.2% from 2022-2030 to reach 12,800.7 Million USD in 2030.
North America captured the highest revenue in 2021 and is projected to continue its dominance during the study period.
The global Digital Inverter market is expanding at a CAGR 7.2% from 2022-2030 to reach 12,800.7 Million USD in 2030.
Asia Pacific (especially China, and India) region is projected to grow at the fastest growth rate during the study period.
The competition in the Digital Inverter market is intense, with both local and international players vying for a share. Industry leaders are engaging in mergers and acquisitions, partnerships, and product launches to maintain their competitive edge. For instance, in September 2022, Samsung introduced its EcoBubble range of fully automatic washing machines, which use Digital Inverter Technology to provide up to 20% better fabric care and energy savings. Meanwhile, Haier launched its new digital inverter refrigerator series in April 2022.

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