Unreliable Power Supply Creates Huge Demand for Non-renewable Inverters, Finds Frost & Sullivan Cost competitiveness vital to expand in developing markets
MOUNTAIN VIEW, Calif., May 16, 2013 /PRNewswire/ -- The global non-renewable inverter market grew steadily on the back of rising demand for reliable power and the lack of stable power infrastructure in many regions of the world. Higher disposable incomes and greater affordability in developing regions such as Latin America, as well as parts of Africa and South Asia, encourage the adoption of power inverters, especially in residential markets.
New analysis from Frost & Sullivan's (http://www.powersupplies.frost.com) Analysis of the Global Non-renewable Inverter Market research finds the market earned revenue of approximately $1.94 billion in 2012 and estimates this to reach $2.34 billion in 2018.
For more information on this research, please email Britni Myers, Corporate Communications, at firstname.lastname@example.org, with your full name, company name, job title, telephone number, company email address, company website, city, state and country.
"The need for power reliability stimulates demand for power inverter and inverter/chargers, as they are employed as part of a back-up power system involving a battery," said Frost & Sullivan Energy and Environment Senior Industry Analyst Anu Elizabeth Cherian. "The manufacturing and commercial sectors' increased awareness and proactive protective measures such as employing adequate back-up resources to manage business more efficiently gives a significant boost to the market's prospects."
The market will also gain from the escalating use of electronic equipment in boats, cars, trucks, ambulances and recreational vehicles. Power inverters and inverter chargers can meet business travelers' or vacationers' demand for connectivity on the go as well.
While power inverters are establishing a foothold in the power industry, the gradual pace of economic recovery and restrained spending environment are stymieing inverter manufacturers' efforts to expand. Further, the slowdown in infrastructural build-outs in telecommunications and investments makes customers cautious about investing in inverters.
"Inverter manufacturers could attempt to offset the price issue by offering enhanced features for the premium products or lowering prices," noted Cherian. "We know that without a solid solution, power quality issues will continue to persist. This improved awareness of the need to be well prepared for power outages bolsters the power inverter market."
Analysis of the Global Non-renewable Inverter Market is part of the Energy and Environment Growth Partnership Service program. Frost & Sullivan's related research services include: Analysis of the Mexican Distributed Power Generation Market, Asia-Pacific Rental Power Market, Bangladesh Uninterruptible Power Supply Market, and Critical Energy Infrastructure Protection in Europe. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Analysis of the Global Non-renewable Inverter Market
SOURCE Frost & Sullivan