Inverter Market size to grow by $33.8 Bn; Evolving Opportunities with SMA Solar Technology, Huawei Technologies, Sungrow Power Supply and FIMER
New Revenue Pockets:
The global inverter market is expected to grow at a CAGR of 15.7% to USD 33.8 billion by 2027, up from an estimated USD 16.3 billion in 2022. The increasing investments in the renewable energy sector and the rise in the number of solar installations attributed to government led incentives and schemes worldwide fueling demand for inverters to drive the demand for global inverters.
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Huawei Technologies (China) and Sungrow Power Supply (China) are Leading Players in the Inverter Market
Inverters are power devices that convert DC power to usable AC power. This conversion is carried out with the help of transformers, switching circuits, and control circuits. Inverters deliver AC voltage from DC power sources. This AC voltage is useful for operating electronic and electrical equipment, which are rated for the AC mains voltage.
The global inverter market is projected to grow...