Market Updates Power Inverter Market Analysis, Development Trend | Page 2

A multilevel power converter helps in achieving high power ratings and also is a source of renewable energy. Sources
such as photovoltaic’s, wind and fuel cells are easily interfaced to a multilevel inverter for high power application.
Since it is used for higher voltage operations, it provides best solutions offered by semiconductors too. The need for
extra switches, extra AC or DC sources can be used to generate different voltage levels, generation of stepped
waveform with minimized harmonic distortion, and minimized common-mode voltages.
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On a commercial scale, the growing importance of power inverters in manufacturing sector enables trajectory market
growth for power inverter market. The key driving factors responsible for the growth of power inverter market includes
rise in sales of electric vehicles across the globe coupled with rise in vehicle models by OEM. Additionally, rising
concerns towards environment and environmental norms to reduce fuel and carbon emissions by developed countries
is adding to the growth of power inverter market.
On the basis of product segment, the power inverter market is segmented into normal temperature and high
temperature. On the basis of level, the power inverted market is segmented into single-level inverter and multi-level
inverter. On the basis of geographic segmentation, the power inverter market spans North America, Latin America,
Europe, Asia-Pacific, and Middle-East & Africa. North America and APAC regions are likely to dominate the market
during the forecast period. Europe is anticipated to grow at a higher CAGR during the forecast period. The key players
in the global power inverter market include Siemens, GE, Vestas, Enercon, Gamesa, MHI Vestas, Gold Wind, and United
Power & Mingyang.
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