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Overview Global Power Inverter Market 2018: Growth, Demand and Forecast Research Report to 2023

united states, 14 September 2018 -- The global power inverter market has witnessed a positive growth over the past several years. This can be attributed to rapid electrification and urbanization in emerging regions coupled with the environment-friendly nature of power inverters.

The latest report by IMARC Group, titled “Power inverter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global power inverter market reached a value of US$ 64 Billion in 2017, registering a CAGR of 7% during 2010-2017. Power inverter is an electronic device which changes direct current (DC) from batteries, solar panels, or high voltage DC transmission lines to alternating current (AC). It is used to run devices, tools, and other residential and commercial electrical appliances. Unlike conventional generator, power inverter is generally smaller, lighter and provides more energy savings. Over the years, power inverters have gained prominence as they ensure a highly efficient and reliable power supply, offer low operating cost, and eliminate inconvenience of using change-over switches.

Global Power Inverter Market Trends:

With growing electrification and rapid urbanization, the majority of the population nowadays relies on electronic appliances and gadgets, such as air conditioners, televisions, laptops, refrigerators, etc.

Source: https://www.imarcgroup.com/global-power-inverter-market

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Submitted by Imarc Group, IMARC Group on Friday, 14 September 2018 at 2:27 PM
Category: Science & Research
 
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