Digital Inverter Market Status (2018-2022) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2022-2030
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.)
Table Of Content
TABLE OF CONTENT
1. Digital Inverter Market Overview
1.1. Product Overview and Scope of Digital Inverter
1.2. Global Market Growth Prospects and Revenue Estimates
1.3. Global Digital Inverter Consumption Comparison by Type: 2022 VS 2030
1.3.1. Central Inverter
1.3.2. String Inverter
1.3.3. Micro Inverter
1.4. Global Digital Inverter Consumption Comparison by Application: 2022 VS 2030
1.4.1. Utilities
1.4.2. Commercial
1.4.3. Residential
1.5. Global Digital Inverter Market Size Estimates and Forecasts by Region: 2022 VS 2030
1.5.1. North America Digital Inverter Estimates
1.5.2. Europe Digital Inverter Estimates
1.5.3. China Digital Inverter Estimates
1.5.4. Japan Digital Inverter Estimates
2. Market Competition by Manufacturers
2.1. Global Digital Inverter Revenue Market Share by Manufacturers (2021)
2.2. Digital Inverter Market Share by Company Design (Tier 1, Tier 2 and Tier 3)
2.3. Global Digital Inverter Average Price by Manufacturers (2018-2022)
2.4. Manufacturers Digital Inverter Production Sites, Area Served, Product Types
2.5. Digital Inverter Market Competitive Situation and Trends
2.5.1. Digital Inverter Market Concentration Rate
2.5.2. Mergers & Acquisitions, Expansion
3. Global Digital Inverter Consumption by Region (2018-2022)
3.1. Global Digital Inverter Consumption by Region
3.2. Global Digital Inverter Consumption Market Share by Region
3.2.1. North America
3.2.2. North America Digital Inverter Consumption Growth Rate (2018-2022)
3.2.3. North America Digital Inverter Consumption, Price and Gross Margin (2018-2022)
3.2.4. North America Digital Inverter Consumption by Country
3.2.4.1. U.S.
3.2.4.2. Canada
3.2.5. Europe
3.2.6. Europe Digital Inverter Consumption Growth Rate (2018-2022)
3.2.7. Europe Digital Inverter Consumption, Price and Gross Margin (2018-2022)
3.2.8. Europe Digital Inverter Consumption by Country
3.2.8.1. Germany
3.2.8.2. U.K.
3.2.8.3. France
3.2.8.4. Italy
3.2.8.5. Spain
3.2.9. Asia Pacific
3.2.10. Asia Pacific Digital Inverter Consumption Growth Rate (2018-2022)
3.2.11. Asia Pacific Digital Inverter Consumption, Price and Gross Margin (2018-2022)
3.2.12. Asia Pacific Digital Inverter Consumption by Country
3.2.12.1. China
3.2.12.2. India
3.2.12.3. Japan
3.2.12.4. Indonesia
3.2.12.5. Malaysia
3.2.12.6. Australia
3.2.12.7. South Korea
3.2.13. South America
3.2.14. South America Digital Inverter Consumption Growth Rate (2018-2022)
3.2.15. South America Digital Inverter Consumption, Price and Gross Margin (2018-2022)
3.2.16. South America Digital Inverter Consumption by Country
3.2.16.1. Brazil
3.2.16.2. Mexico
3.2.16.3. Argentina
3.2.17. Middle East and Africa
3.2.18. Middle East and Africa Digital Inverter Consumption Growth Rate (2018-2022)
3.2.19. Middle East and Africa Digital Inverter Consumption, Price and Gross Margin (2018-2022)
3.2.20. Middle East and Africa Digital Inverter Consumption by Country
3.2.20.1. Saudi Arabia
3.2.20.2. Kuwait
3.2.20.3. UAE
3.2.20.4. South Africa
4. Global Digital Inverter Consumption by Type (2018-2022)
4.1. Global Digital Inverter Price by Type (2018-2022)
4.2. Global Digital Inverter Revenue Market Share by Type (2018-2022)
4.2.1. Central Inverter
4.2.2. String Inverter
4.2.3. Micro Inverter
5. Global Digital Inverter Consumption by Application (2018-2022)
5.1. Global Digital Inverter Price by Application (2018-2022)
5.2. Global Digital Inverter Revenue Market Share by Application (2018-2022)
5.2.1. Utilities
5.2.2. Commercial
5.2.3. Residential
6. Key Companies Profiled
6.1. Schneider Electric
6.1.1. Schneider Electric Digital Inverter Corporation Information
6.1.2. Schneider Electric Digital Inverter Product Portfolio
6.1.3. Schneider Electric Digital Inverter Consumption, Price and Gross Margin (2018-2022)
6.1.4. Schneider Electric Main Business and Markets Served
6.1.5. Schneider Electric Recent Developments/Updates
6.2. KOSTAL Solar Electric GmbH
6.3. SUNGROW
6.4. Carrier Airconditioning & Refrigeration Ltd. India
6.5. Advanced Energy Industries, Inc.
6.6. Cognito Quam Electrotechnologies Ltd.
6.7. Protonix Fortuner India Private Limited
6.8. Lzen Electronics India.
6.9. Instant Power Engineering, India Power System
6.10. Solarstate Technologies
6.11. M/S Sherin Enterprises
6.12. Win Min E Power Systems
6.13. Purevolt Products Private Limited
6.14. Power Consilium System
6.15. Narson Enterprises
7. Marketing Channel, Distributors and Customers
7.1. Marketing Channel
7.2. Digital Inverter Distributors List
7.3. Digital Inverter Customers
8. Market Dynamics
8.1. Digital Inverter Industry Trends
8.2. Digital Inverter Growth Drivers
8.3. Digital Inverter Market Challenges
8.4. Digital Inverter Market Restraints
9. Global Digital Inverter Consumption and Demand Forecast, by Region (2022-2030)
9.1. Global Forecasted Demand Analysis of Digital Inverter, by Regions and Country
9.1.1. North America Forecasted Consumption of Digital Inverter by Country
9.1.2. Europe Market Forecasted Consumption of Digital Inverter by Country
9.1.3. Asia Pacific Market Forecasted Consumption of Digital Inverter by Region
9.1.4. Latin America Forecasted Consumption of Digital Inverter by Country
9.1.5. Middle East and Africa Forecasted Consumption of Digital Inverter by Country
10. Global Digital Inverter Consumption and Demand Forecast, by Type Segments (2022-2030)
10.1. Global Forecasted Consumption of Digital Inverter by Type Segments (2022-2030)
10.2. Global Consumption and Price Forecast by Type Segments (2022-2030)
10.3. Global Forecasted Growth Rate of Digital Inverter by Type Segments (2022-2030)
11. Global Digital Inverter Consumption and Demand Forecast, by Application Segments (2022-2030)
11.1. Global Forecasted Consumption of Digital Inverter by Application Segments (2022-2030)
11.2. Global Consumption and Price Forecast by Application Segments (2022-2030)
11.3. Global Forecasted Growth Rate of Digital Inverter by Application Segments (2022-2030)
12. Research Finding and Conclusion
13. Methodology and Data Source
13.1. Methodology/Research Approach
13.1.1. Research Programs/Design
13.1.2. Market Size Estimation
13.1.3. Market Breakdown and Data Triangulation
13.2. Data Source
13.2.1. Secondary Sources
13.2.2. Primary Sources
13.3. Author List
13.4. Disclaimer
Research Methodology
Our research studies are primarily performed in five phases which include Secondary Research, Primary Research, Subject Matter Expert Advice, Quality Check, and Final Review. The process opted for conducting thorough research to make authentic business reports is briefly described below-
Secondary Research-
- Based on the understanding of requirements, we conducted secondary research to identify the Segment specifications, qualitative and quantitative data along with the factors responsible for the growth of the market.
- The secondary sources referred for the study include press releases, company annual reports, and research papers related to the industry.
- Various sources such as industry magazines, trade journals, government websites, and associations were also reviewed for gathering precise analysis on opportunities for business expansions in the market.
- Moreover, quantitative as well as qualitative data were also extracted from paid databases, which included Reuters, Factiva, Bloomberg, One Source, and Hoovers, which proved to be useful for in-depth technical study of the market.
Primary Research-
- The research carried out during the desk research was verified by primary interviews. Primary research was scheduled with a number of industry experts for conducting telephonic interviews, and also our team send questionnaires through their official emails.
- The secondary data collected was then verified by various industry participants which included Segment managers, marketing managers, VPs, CEOs, purchasing managers, subject matter experts.
- An interview with the mentioned participants aids invalidation of our research findings regarding the Segment.
- It helps in the provision of first-hand data on factors such as market size, growth, regional trends, market trends, and competition in the industry. This approach makes our findings precise in order to help our clients in strategic decision-making processes.
Subject Matter Advice-
- The secondary and primary research key findings were then validated by the in-house subject matter experts having extensive experience in the market research industry.
- Specific requirements of the clients were reviewed by the experts to check for completion of the market study. Experts help in channelizing the representation skills of the analyst in terms of providing data that can be easily understood by our customers.
Quality Check-
- The analysis done by the research team was further reviewed to check for data accuracy provided to suit the clients’ specific requirements.
- This revision was done in various phases to check the data authenticity and to remove negligible errors in the final compilation.
Final Review-
- After the quality check, a final review of the report was done to look after the presentation, formatting, and to recheck if all the requirements of the clients were addressed. The next phase remains dispatch of the report to the client.
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