The report on the global power converter market provides qualitative and quantitative analysis for the period from 2022-2032. The global power converter market was valued at USD 22.1 billion in 2023 and is expected to reach USD 40.60 billion in 2032, with a CAGR of 7.24% during the forecast period 2024-2032. The study on power converter market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2022-2032.
The report on power converter market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global power converter market over the period of 2022-2032. Moreover, the report is a collective presentation of primary and secondary research findings.
Porter's five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global power converter market over the period of 2022-2032. Furthermore, the growth matrix given in the report brings an insight into the investment areas that existing or new market players can consider.
1. Key Opinion Leaders
2. Internal and External subject matter experts
3. Professionals and participants from the industry
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/ country managers
5. Vice President level executives.
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies
2. Complete coverage of all the segments in the power converter market to analyze the trends, developments in the global market and forecast of market size up to 2032.
3. Comprehensive analysis of the companies operating in the global power converter market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
The report on power converter market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global power converter market over the period of 2022-2032. Moreover, the report is a collective presentation of primary and secondary research findings.
Porter's five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global power converter market over the period of 2022-2032. Furthermore, the growth matrix given in the report brings an insight into the investment areas that existing or new market players can consider.
Report Findings
1) Drivers
- The power converter market is significantly influenced by the growth of renewable energy sources, particularly solar and wind.
- The increasing adoption of electric vehicles (EVs) is significantly increasing the demand for power converters, especially in battery charging and motor control systems.
2) Restraints
- The power converter market faces significant limitations due to the lack of standardization across various applications, including renewable energy integration and electric vehicles (EVs).
3) Opportunities
- Smart grids offer a significant opportunity for the power converter market, as they require efficient and reliable power conversion solutions for improved grid stability and energy management.
Research Methodology
A) Primary Research
The primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached include1. Key Opinion Leaders
2. Internal and External subject matter experts
3. Professionals and participants from the industry
The primary research respondents typically include
1. Executives working with leading companies in the market under review2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/ country managers
5. Vice President level executives.
B) Secondary Research
Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. Each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.The secondary sources of the data typically include
1. Company reports and publications2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies
Segment Covered
The global power converter market is segmented on the basis of type, application, and end-use industry.The Global Power Converter Market by Type
- AC to DC Converter
- DC to AC Converter
- DC to DC Converter
- AC to AC Convertor
The Global Power Converter Market by Application
- Renewable Energy
- Consumer Electronics
- Medical Equipment
- Electric Vehicle
- Others
The Global Power Converter Market by End-use Industry
- Residential
- Commercial
Company Profiles
The companies covered in the report include
- Delta Electronics, Inc.
- Vicor Corporation
- Texas Instruments Incorporated
- ABB
- Emerson Electric Co.
- General Electric Company
- Eaton Corporation plc
- Siemens AG
- Schneider Electric
- Mitsubishi Electric Corporation
What does this report deliver?
1. Comprehensive analysis of the global as well as regional markets of the power converter market.2. Complete coverage of all the segments in the power converter market to analyze the trends, developments in the global market and forecast of market size up to 2032.
3. Comprehensive analysis of the companies operating in the global power converter market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
Table of Contents
Chapter 1. Preface
Chapter 2. Executive Summary
Chapter 3. Global Power Converter Market Overview
Chapter 5. Company Profiles and Competitive Landscape
Chapter 6. Global Power Converter Market by Type
Chapter 7. Global Power Converter Market by Application
Chapter 8. Global Power Converter Market by End-use Industry
Chapter 9. Global Power Converter Market by Region 2024-2032
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 255 |
| Published | May 2025 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 22.1 Billion |
| Forecasted Market Value ( USD | $ 40.6 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
