According to Future Market Insights, the global market for digital inverters is expected to display stellar growth during the period of forecast. The global digital inverter market has been witnessing consistent growth since 2012. According to this research, the global market for digital inverters is expected to grow at a high CAGR of 7.1% throughout the 2017-2027 timeline.
The global market, in 2017 is valued at US$ 5.5 Bn and is estimated to reach around US$ 11 Bn by the end of 2027. The high growth is due to development of new battery technologies for additional power storage, increasing demand from industrial and commercial sectors in the coming years and increasing technological development in energy utilization.
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One of the segments of the global digital inverter market is the end user category. Utilities segment in this category is a highly lucrative segment. It has reflected high growth potential during the 2012-2016 with respect to both growth rate as well as revenue and is likely to show increased potential in the years to come. The utilities end user segment is expected to reach a valuation of more than US$ 5500 Mn by the end of the year of assessment from a value of a bit more than US$ 2800 Mn in 2017.
This rise in estimation can be attributed to increasing demand for digital inverters from the utilities sector. The utilities segment is projected to expand at a robust rate to register a CAGR of above 7.2% throughout the period of assessment, 2017-2027.
Commercial sector, following utilities, is showing higher inclination towards using digital inverters. This trend has been observed since 2012-2016 timeline. The commercial segment is expected to rise at a noteworthy CAGR of 7.0% throughout the assessment period.
The commercial segment reflected a revenue generation of around US$ 1.2 Bn in 2016 and is anticipated to touch an estimate a little under US$ 2670 Mn by the end of the year of forecast. This segment is expected to represent a Y-o-Y of 6.1% by the end of 2027.
Digital inverter market is soaring across the globe through regional geographies such as North America, Asia Pacific excluding Japan (APEJ), Western Europe etc. In North America, the utilities end user segment reflected higher revenue share and is expected to grow at a 7.2% CAGR during the forecast period. The commercial end user segment in Western Europe is estimated at around US$ 340 Mn by end of 2027. The utilities segment dominates the Western Europe digital inverter market in terms of market value and growth rate.
Utilities end user segment in Western Europe is projected to rise at a CAGR of 7.0% throughout the forecast period. Asia Pacific excluding Japan (APEJ) region has shown higher potential compared to other regions during the forecast period.
The utilities end user segment is projected to grow at a 7.9% CAGR during the period of forecast and reach a huge valuation of around US$ 2.4 Bn by the end of the assessment year (2027). The commercial segment in this region is also expected to show significant growth contributing to the growth of the global market.
By End User
By Power Source
By Product Type
By Region
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The digital inverter market is likely to secure a CAGR of 6.9% through 2032.
The digital inverter market size is estimated to cross US$ 14 Bn by 2032.
The digital inverter market is likely to record a value of US$ 7.68 Bn in 2022.
North America is the dominant digital inverter market.
1. Executive Summary 1.1. Market Overview 1.2. Market Analysis 1.3. FMI Analysis and Recommendations 2. Market Introduction 2.1. Market Taxonomy 2.2. Market Definition 2.3. Parent Market Overview B3.1. Macro-Economic Factors 3.2. Opportunity Analysis 4. Global Market Analysis 2012–2016 and Forecast 2017–2027 4.1. Market Size and Y-o-Y Growth 4.2. Absolute $ Opportunity 4.3. Value Chain 5. North America Market Analysis 2012–2016 and Forecast 2017–2027 5.1. Introduction 5.2. Regional Market Dynamics 5.2.1. Drivers 5.2.2. Restraints 5.2.3. Trends 5.3. Market Size (US$ Mn) By Country, 2012-2016 5.3.1. U.S. 5.3.2. Canada 5.4. Market Size (US$ Mn) and Forecast By Country, 2017-2027 5.4.1. U.S. 5.4.2. Canada 5.5. Market Size (US$ Mn) and Forecast By Power Source 5.5.1. Battery Inverters 5.5.2. Solar Inverters 5.6. Market Size (US$ Mn) and Forecast By Product Type 5.6.1. Central Inverters 5.6.2. String Inverters 5.6.3. Micro Inverters 5.7. Market Size (US$ Mn) and Forecast By End User 5.7.1. Utilities 5.7.2. Commercial 5.7.3. Residential 5.8. Market Attractiveness Analysis 5.8.1. By Country 5.8.2. By Power Source 5.8.3. By Product Type 5.8.4. By End User 5.9. Market Presence (Intensity Map) 6. Western Europe Market Analysis 2012–2016 and Forecast 2017–2027 6.1. Introduction 6.2. Regional Market Dynamics 6.2.1. Drivers 6.2.2. Restraints 6.2.3. Trends 6.3. Market Size (US$ Mn) By Country, 2012-2016 6.3.1. Germany 6.3.2. France 6.3.3. U.K. 6.3.4. Spain 6.3.5. Italy 6.3.6. BENELUX 6.3.7. Nordic 6.3.8. Rest of Western Europe 6.4. Market Size (US$ Mn) and Forecast By Country, 2017-2027 6.4.1. Germany 6.4.2. France 6.4.3. U.K. 6.4.4. Spain 6.4.5. Italy 6.4.6. BENELUX 6.4.7. Nordic 6.4.8. Rest of Western Europe 6.5. Market Size (US$ Mn) and Forecast By Power Source 6.5.1. Battery Inverters 6.5.2. Solar Inverters 6.6. Market Size (US$ Mn) and Forecast By Product Type 6.6.1. Central Inverters 6.6.2. String Inverters 6.6.3. Micro Inverters 6.7. Market Size (US$ Mn) and Forecast By End User 6.7.1. Utilities 6.7.2. Commercial 6.7.3. Residential 6.8. Market Attractiveness Analysis 6.8.1. By Country 6.8.2. By Power Source 6.8.3. By Product Type 6.8.4. By End User 6.9. Market Presence (Intensity Map) 7. Eastern Europe Market Analysis 2012–2016 and Forecast 2017–2027 7.1. Introduction 7.2. Regional Market Dynamics 7.2.1. Drivers 7.2.2. Restraints 7.2.3. Trends 7.3. Market Size (US$ Mn) By Country, 2012-2016 7.3.1. Russia 7.3.2. Poland 7.3.3. Rest of Eastern Europe 7.4. Market Size (US$ Mn) and Forecast By Country, 2017-2027 7.4.1. Russia 7.4.2. Poland 7.4.3. Rest of Eastern Europe 7.5. Market Size (US$ Mn) and Forecast By Power Source 7.5.1. Battery Inverters 7.5.2. Solar Inverters 7.6. Market Size (US$ Mn) and Forecast By Product Type 7.6.1. Central Inverters 7.6.2. String Inverters 7.6.3. Micro Inverters 7.7. Market Size (US$ Mn) and Forecast By End User 7.7.1. Utilities 7.7.2. Commercial 7.7.3. Residential 7.8. Market Attractiveness Analysis 7.8.1. By Country 7.8.2. By Power Source 7.8.3. By Product Type 7.8.4. By End User 7.9. Market Presence (Intensity Map) 8. Latin America Market Analysis 2012–2016 and Forecast 2017–2027 8.1. Introduction 8.2. Regional Market Dynamics 8.2.1. Drivers 8.2.2. Restraints 8.2.3. Trends 8.3. Market Size (US$ Mn) By Country, 2012-2016 8.3.1. Brazil 8.3.2. Mexico 8.3.3. Rest of Latin America 8.4. Market Size (US$ Mn) and Forecast By Country, 2017-2027 8.4.1. Brazil 8.4.2. Mexico 8.4.3. Rest of Latin America 8.5. Market Size (US$ Mn) and Forecast By Power Source 8.5.1. Battery Inverters 8.5.2. Solar Inverters 8.6. Market Size (US$ Mn) and Forecast By Product Type 8.6.1. Central Inverters 8.6.2. String Inverters 8.6.3. Micro Inverters 8.7. Market Size (US$ Mn) and Forecast By End User 8.7.1. Utilities 8.7.2. Commercial 8.7.3. Residential 8.8. Market Attractiveness Analysis 8.8.1. By Country 8.8.2. By Power Source 8.8.3. By Product Type 8.8.4. By End User 8.9. Market Presence (Intensity Map) 9. Asia Pacific Excluding Japan (APEJ) Market Analysis 2012–2016 and Forecast 2017–2027 9.1. Introduction 9.2. Regional Market Dynamics 9.2.1. Drivers 9.2.2. Restraints 9.2.3. Trends 9.3. Market Size (US$ Mn) By Country, 2012-2016 9.3.1. China 9.3.2. India 9.3.3. Australia and New Zealand 9.3.4. ASEAN 9.3.5. Rest of APEJ 9.4. Market Size (US$ Mn) and Forecast By Country, 2017-2027 9.4.1. China 9.4.2. India 9.4.3. Australia and New Zealand 9.4.4. ASEAN 9.4.5. Rest of APEJ 9.5. Market Size (US$ Mn) and Forecast By Power Source 9.5.1. Battery Inverters 9.5.2. Solar Inverters 9.6. Market Size (US$ Mn) and Forecast By Product Type 9.6.1. Central Inverters 9.6.2. String Inverters 9.6.3. Micro Inverters 9.7. Market Size (US$ Mn) and Forecast By End User 9.7.1. Utilities 9.7.2. Commercial 9.7.3. Residential 9.8. Market Attractiveness Analysis 9.8.1. By Country 9.8.2. By Power Source 9.8.3. By Product Type 9.8.4. By End User 9.9. Market Presence (Intensity Map) 10. Japan Market Analysis 2012–2016 and Forecast 2017–2027 10.1. Introduction 10.2. Regional Market Dynamics 10.2.1. Drivers 10.2.2. Restraints 10.2.3. Trends 10.3. Market Size (US$ Mn) and Forecast By Power Source 10.3.1. Battery Inverters 10.3.2. Solar Inverters 10.4. Market Size (US$ Mn) and Forecast By Product Type 10.4.1. Central Inverters 10.4.2. String Inverters 10.4.3. Micro Inverters 10.5. Market Size (US$ Mn) and Forecast By End User 10.5.1. Utilities 10.5.2. Commercial 10.5.3. Residential 10.6. Market Attractiveness Analysis 10.6.1. By Country 10.6.2. By Power Source 10.6.3. By Product Type 10.6.4. By End User 10.7. Market Presence (Intensity Map) 11. Middle East and Africa Market Analysis 2012–2016 and Forecast 2017–2027 11.1. Introduction 11.2. Regional Market Dynamics 11.2.1. Drivers 11.2.2. Restraints 11.2.3. Trends 11.3. Market Size (US$ Mn) By Country, 2012-2016 11.3.1. GCC Countries 11.3.2. Turkey 11.3.3. Northern Africa 11.3.4. South Africa 11.3.5. Rest of MEA 11.4. Market Size (US$ Mn) and Forecast By Country, 2017-2027 11.4.1. GCC Countries 11.4.2. Turkey 11.4.3. Northern Africa 11.4.4. South Africa 11.4.5. Rest of MEA 11.5. Market Size (US$ Mn) and Forecast By Power Source 11.5.1. Battery Inverters 11.5.2. Solar Inverters 11.6. Market Size (US$ Mn) and Forecast By Product Type 11.6.1. Central Inverters 11.6.2. String Inverters 11.6.3. Micro Inverters 11.7. Market Size (US$ Mn) and Forecast By End User 11.7.1. Utilities 11.7.2. Commercial 11.7.3. Residential 11.8. Market Attractiveness Analysis 11.8.1. By Country 11.8.2. By Power Source 11.8.3. By Product Type 11.8.4. By End User 11.9. Market Presence (Intensity Map) 12. Forecast Factors: Relevance and Impact 13. Forecast Assumptions 14. Competition Landscape 14.1. Market Structure 14.2. Market Share Analysis 14.3. Competition Intensity Mapping By Market Taxonomy 14.4. Competition Dashboard 14.5. Company Profiles (Details – Overview, Financials, Strategy, Recent Developments) 14.5.1. Eaton Corporation 14.5.2. Schneider Electric SE 14.5.3. Siemens AG 14.5.4. ABB Ltd. 14.5.5. General Electric Co. 14.5.6. Enphase Energy, Inc. 14.5.7. SMA Solar Technology AG 14.5.8. Vertiv Group Corporation 14.5.9. Leopold Kostal GmbH & Co. KG 14.5.10. Growatt New Energy Co.,Ltd14.5.11 Other Players 14.5.12. ReGen Powertech Private Ltd 14.5.13. Fronius International GmbH 14.5.14. SMA New Energy Technology (Jiangsu) Co., Ltd. 14.5.15. Toshiba Mitsubishi-Electric Industrial Systems Corporation.15. Global Market Analysis 2012–2016 and Forecast 2017–2027 15.1. Introduction / Key Findings 15.2. Market Size (US$ Mn) and Forecast By Region 15.2.1. North America 15.2.2. Western Europe 15.2.3. Eastern Europe 15.2.4. Latin America 15.2.5. Asia Pacific Excluding Japan 15.2.6. Japan 15.2.7. Middle East and Africa 15.3. Market Attractiveness Analysis By Region 16. Global Market Analysis 2012–2016 and Forecast 2017–2027, By Power Source 16.1. Introduction 16.2. Market Size (US$ Mn) and Forecast By Power Source 16.2.1. Battery Inverters 16.2.2. Solar Inverters Manned POS Terminal 16.3. Key Trends / Developments 16.4. Market Attractiveness Analysis By Power Source 17. Global Market Analysis 2012–2016 and Forecast 2017–2027, By Product Type 17.1. Introduction / Key Findings 17.2. Market Size (US$ Mn) and Forecast By Product Type 17.2.1. Central Inverters 17.2.2. String Inverters 17.2.3. Micro Inverters 17.3. Others Key Trends / Developments 17.4. Market Attractiveness Analysis By Product Type 18. Global Market Analysis 2012–2016 and Forecast 2017–2027, By End-user 18.1. Introduction / Key Findings 18.2. Market Size (US$ Mn) and Forecast By End-user Industry 18.2.1. Utilities 18.2.2. Commercial 18.2.3. Residential 18.3. Others Key Trends / Developments 18.4. Market Attractiveness Analysis By End-user 19. Assumptions and Acronyms Used 20. Research Methodology
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