Solar, Wind Power

Inverter Market Growing

The increasing need for reliable, high-quality power has spurred a greater demand for direct current/alternate current (DC/AC) power inverters in North America, according to a company in the business…

San Jose, California – October 24, 2002 [SolarAccess.com] The increasing need for reliable, high-quality power has spurred a greater demand for direct current/alternate current (DC/AC) power inverters in North America, according to a company in the business. New analysis from Frost & Sullivan North American DC/AC Power Inverter Market, reveals that revenues in this market totaled US$469.3 million in 2001 and are projected to reach US$1.3 billion by 2008, according to the company. Increasing demand for power and its uninterrupted supply underlie the expansion of this market, which can be divided into three main segments: non-renewable-energy-based power inverters, non-renewable-energy-based inverter/chargers, and renewable-energy-based power inverters and inverter/chargers. Multinationals, in particular, cannot afford disruptions in power, as it increases inconvenience and could lead to potential financial losses. There is a pressing requirement for alternative sources of energy, fueled by the growing awareness of environmental issues and the needs of remote residential areas that are cut off from the utility grid. The Renewable Energy-based power inverter and inverter/charger segment has the potential to address such needs, and is therefore poised for strong growth, said the company. “The development of renewable energies such as photovoltaic, wind, and fuel cell creates new opportunities for power inverters and inverter/chargers in North America,” said Frost & Sullivan Industry Analyst Jessy Cavazos. Low end-user prices are vital to stay competitive. With the recent introduction of reasonably priced products from countries such as China and Taiwan, competition is increasing dramatically. To counter this challenge, North American companies have to closely monitor market and product developments that will help identify opportunities, said the Company. “By joining key industry associations as well as conducting regular analysis of their targeted end-user segments, manufacturers develop an important competitive advantage, which is the ability to respond and meet demand as quickly as possible,” said Cavazos. Access: