Persistence Market Research (PMR) has released a new market research study on the global compact inverter technology market, which includes the global industry analysis 2014–2018 and forecast 2019–2029. This research study offers an in-depth analysis for the upcoming ten years.
The global compact inverter technology market was valued at ~ US$ 800 Mn in 2014, and is projected to surpass ~ US$ 1.1 Bn by the end of the year 2019. The compact inverter technology market is likely to grow at a CAGR of ~ 8% during the forecast period of 2019 to 2029, and is projected to reach a market value of ~ US$ 2.5 Bn by the end of the forecast year 2029.
This research report contains vital forecast and macro-economic factors that are projected to propel the compact inverter technology market growth. The compact inverter technology market report also discusses the challenges that are anticipated to hamper the global market growth. The compact inverter technology market also offers an analysis on the potential opportunities to look forward to, along with the latest trends in the marketplace.
Growing Usage of Portable Power Storage Devices to Boost Market Growth
By type, the compact inverter technology market is broken down into fixed and portable. Moreover, fixed compact inverters can be installed in cars, trucks, and even recreational vehicles, making them ideal for cross country professional drivers. By phase, the global compact inverter technology market is segregated into single-phase and three-phase. The three-phase segment is projected to remain significant in the compact inverter technology market throughout the forecast period.
By output voltage, the compact inverter technology market is broken down into up to 240volts and above 240volts. The above 240volts segment of the compact inverter technology market is estimated to remain prominent in the global market owing to the adoption of portable power storage devices. By application, the global compact inverter technology market is segmented into residential, commercial, and industrial. The commercial segment includes the automotive sector and is projected to remain significant in the compact inverter technology market throughout the forecast period.
Regional analysis of the compact inverter technology market reveals that Western Europe and Asia Pacific Excluding Japan are anticipated to witness a prominent growth rate in the global compact inverter technology market over the forecasted period. However, North America is also developing healthy potential for the compact inverter technology market owing to the new business opportunities in the region.
Tier-1 Players in the Market to Account for 30% Revenue Shares
The global compact inverter technology market is defined consolidated owing to the presence of a large number of manufacturers of compact inverters. For deep-down analysis, Persistence Market Research (PMR) has segregated the market structure up to three tiers: Tier 1, Tier 2, and Tier 3. Here, Tier 1 players are expected to account for a 30% share in the global market of compact inverter technology. Moreover, the top players in the global compact inverter technology market are adopting collaboration and business expansion strategies to gain a significant share of the global compact inverter technology market.
- In August 2018, Cobra Electronics expanded its product lineup in China by introducing SPXc Series. The series contains 4 new models that offer the latest technology to satisfy the demands of the tech-savvy Chinese market.
- In August 2018, Tripp Lite partnered with MAS Elektronik AG to distribute its product portfolio of enterprise, small business, and home computing solutions in Germany. The range of solutions includes micro data centers, UPS systems, compact inverter, PDUs, server racks, KVM switches, charging solutions, wall-mount, and mobile display mounts.
Some of the key players identified across the value chain of the global compact inverter technology market include OMRON Corporation, Growatt New Energy Technology Co., Ltd, Tripp Lite, Cobra Electronics, Toshiba Schneider Inverter Corporation, Ring Automotive Limited, Eaton (Cooper Bussmann), Movek Group, Mitsubishi Electric Corporation, Zucchetti Centro Sistemi S.p.a, Hitachi, YASKAWA Europe GmbH, Fuji Electric Corp., Panasonic Electric, CE+T Power, Kisae Technology Inc., Xantrex LLC., Samlex America Inc., and Wagan Tech, PowerBright.