Global Wind Inverters Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Wind Inverters Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Inverter is an important part of any system that generates direct current and converts it into alternating current. The main function of wind power inverter is to convert the direct current generated by Wind turbine into alternating current used by household appliances. With the change of wind power, the output of a wind turbine can vary dramatically, needing an inverter with a wider range and the ability to accommodate greater peaks in power generation.

Market Overview:

The latest research study on the global Wind Inverters market finds that the global Wind Inverters market reached a value of USD 152.79 million in 2022. It’s expected that the market will achieve USD 202.37 million by 2028, exhibiting a CAGR of 4.8% during the forecast period.

Influence of COVID-19 Outbreak on Wind Inverters Industry Development

The raging COVID-19 has plunged the global economic environment into depression. The influence of COVID-19 on the wind inverters industry will involve all major links and entities in the industrial chain. The management efficiency of the company is declining, commuting is seriously hindered, production plans are seriously hindered, network expansion is delayed, marketing is delayed, brand adjustment is forced. The impact on the wind inverters industry depends on the prevention and control effect of COVID-19.

During the period of epidemic prevention and control, most companies that did not carry out network marketing promotion of their business were greatly hindered from undertaking business. For enterprises that do not make good use of network promotion means, there is almost no market development during the epidemic, but the original offline market development plan is disrupted, and after the epidemic, which is expected to have a great impact on the company's annual business. In addition, during the period of epidemic prevention and control, some enterprises that do not usually have online office habits are greatly affected in their daily office work.

Due to the serious epidemic situation in the global, some employees of enterprises can't go to work because of the epidemic situation, which may cause stagnation of product production or delay of completion. The shortage of personnel leads to the long-term overload of the current on-the-job personnel, and the pressure on the safe and stable operation of the enterprise is greater.

Strength

Necessity of wind inverter
Wind inverter plays an indispensable role in converting wind turbine and DC power into AC power. Because of the great instability of wind power generation, and the wind speed and equipment itself will directly affect the generator rotation, it is necessary to accept a wind inverter with a large change in current amplitude for current conversion. In wind power equipment, inverter is a very important equipment in wind power generation that generates DC power. If you want to connect the power generated by wind power to the grid, inverter is an indispensable equipment, so it is also the core component that determines whether it can generate economic benefits. The necessity of inverter promotes its market development.

Wind inverters are widely used

Wind inverters can be used not only in wind turbine power plants that generate DC power, but also in small wind turbines. Small turbines can be used by residents themselves, and are also suitable for RVs and sailboats. Excess power can also be fed into the power grid. In addition, public utilities around the world and around the United States have different ways to compensate the power generated by renewable energy contributed by users to the power grid. Wind inverter has a wide range of applications, and can also bring many benefits to users.

Region Overview:

From 2023-2028, Asia Pacific is estimated to witness robust growth prospects.

Company Overview:

ABB (Fimer Spa) is one of the major players operating in the Wind Inverters market, holding a share of 25.86% in 2021.

Fimer Spa has completed the acquisition of ABB's solar inverter business that was announced on July 9, 2019.

Bonfiglioli design, manufacture and distribute effective, tailored solutions for all types of applications in industrial automation, mobile machinery and wind energy. Bonfiglioli solutions are based on a wide range of products, including gearmotors, drive systems, planetary gearboxes and inverters.

Segmentation Overview:

Among different product types, Three Phase Inverter segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Power Generation segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Wind Inverters market covered in Chapter 3:

ENGELEC ENERGY
ABB (Fimer Spa)
Mastervolt (Enerpac Tool Group)
Bonfiglioli
Layer Electronics
Shenzhen Typmar Scenery Energy Te)chnology Co., Ltd.

In Chapter 4 and Chapter 14.2, on the basis of types, the Wind Inverters market from 2018 to 2029 is primarily split into:

Single Phase Inverter
Three Phase Inverter

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Wind Inverters market from 2018 to 2029 covers:

Energy Storage
Power Generation

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)