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Sep 17, 2020 (Market Insight Reports) —
The ‘Solar Inverters/PV InvertersMarket’ research report assembled by Market Study Report, LLC, provides a succinct analysis on the recent market trends. In addition, the report offers a thorough abstract on the statistics, market estimates and revenue forecasts, which further highlights its position in the industry, in tandem with the growth strategies adopted by leading industry players.
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Global solar inverters / PV inverters market is expected to grow from USD 5.32 billion in 2017 to USD 25.86 billion by 2026, at a CAGR of 16.1% during the forecast period, according to a study.
Inverter technologies is constantly going under technological upgradations thus promising better grid support and sophisticated system optimization, the market is expected to reach its zenith during the forecast period. Solar inverters are generally selected on the basis of array size and AC grid inter-tie. Countless modifications regarding design such as grid-tie inverters, stand alone inverters and backup inverters are designed upon their application. The residential and commercial construction activities are recovering globally, this end-user segment is expected to hold vital considerations for the growth of the solar inverters market share.
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The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Solar Inverters Market, 2018-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada. Europe is divided into Germany, UK, Italy, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
The global solar inverters market is a concentrated market with the presence of limited multinationals and national players. Asia Pacific market generated the highest demand in 2017. This was primarily due to the increasing demand renewable energy sources in China as well as growing number of photovoltaic solar plants in the country. Additionally, depleting natural energy sources as well as deteriorating air quality has forced the government to take actions and curb emission of harmful gasses. Apart from China, Japan and South Korea, Indian which is rapidly becoming a major consumer of solar inverters in the region is also expected to generate substantial demand. European nations such as Germany, France, UK and Italy are anticipated to be some of the leading nations to generate substantial demand by 2026 in the region. North America is yet another potential industry in terms of production as well as consumption of solar inverters.
The energy demand globally is snowballing progressively over the last few decades with new methods of energy sources are continually discovered to meet the energy demand of the future. Natural and conventional energy sources such as coal is continually depleting thus renewable sources are explores constantly. Solar energy is one form of renewable energy source where sunlight is converted into electricity. Solar inverters are basically used along with solar or photovoltaic cells to convert direct current (DC) into alternative current (AC). The inverter industry has been going under a concentrated phase of procedural innovation. For project developers, investors as well as regulators, inverters form an integral part. Solar power to support utility grids has gained traction owing to rising demand for power. However, not much solar power plants are placed into grids owing to higher cost associated in setting up of solar power systems as compared to coal, wind and nuclear power generation systems. For installing solar power generation systems into a utility grid, solid state inverters are considered to be the benchmark.
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Some of leading industry participants include Huawei, Sungrow Power Supply, SMA Solar Technology AG, ABB Ltd., Sineng, TBEA, TMEIC, Schneider Electric, SolarEdge Technologies, Power Electronics, KACO New Energy Inc., Fronius, Wuxi Sineng, SunPower Corporation, Delta Electronics, Inc., Hitachi Hi-Rel Power Electronics Pvt. Ltd. and Siemens AG among others.
Market Segment Outlook
Type
Micro Inverter
String Inverter
Central Inverter
Deployment Type
Off-Grid
On-Grid
End-User Type
Industrial
Commercial
Utility
Solar Inverters/PV Inverters Market share byMajor regions included:
United States
North America
Asia Pacific
Europe
Middle East & Africa
Table of Contents
1.Overview and Scope
1.1.Research goal & scope
1.2.Research assumptions
1.3.Research Methodology
1.3.1.Primary data sources
1.3.2.Secondary data sources
1.4.Key take-away
1.5.Stakeholders
2.Executive Summary
2.1.Market Definition
2.2.Market Segmentation
3.Solar Inverters Market Insights
3.1.Solar Inverters- Industry snapshot
3.2.Solar Inverters -Ecosystem analysis
3.3.Solar Inverters market dynamics
3.4.Solar Inverters- Market Forces
3.4.1.Solar Inverters Market driver analysis
3.4.2.Solar Inverters Market restraint/challenges analysis
3.4.3.Solar Inverters Market opportunity analysis
3.5.Industry analysis – Porter’s five force
3.5.1.Bargaining power of supplier
3.5.2.Bargaining power of buyer
3.5.3.Threat of substitute
3.5.4.Threat of new entrant
3.5.5.Degree of competition
3.6.Solar Inverters market PEST analysis, 2017
3.7.Solar Inverters market Value Chain analysis
3.8.Solar Inverters Industry trends
3.9.Competitive Ranking Analysis
4.Solar Inverters Market Size and Forecast by Type
4.1.Key Findings
4.2.String Inverters
4.2.1.Global Market Estimates and Forecasts, 2017-2026
4.3.Central Inverters
4.3.1.Global Market Estimates and Forecasts, 2017-2026
4.4.Micro Inverters
4.4.1.Global Market Estimates and Forecasts, 2017-2026
5.Solar Inverters Market Size and Forecast by Deployment Type
5.1.Key Findings
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