analytics_image

Vantage Market Research

Blogs-Solar Inverter Market is expected to grow with a CAGR 8.5% from 2022 to 2028

Vantage Market Research | 02 Jun 2022

Energy & Power

Solar Inverter Market is expected to grow with a CAGR 8.5% from 2022 to 2028

image

As stated in our extensive report; providing insights Key Drivers, Key Restraints, Segments (i.e., Product Type, Connection Type, Phase, End User, and Region); the Global Solar Inverter Market accounted for USD 7.92 Billion in the year 2021.

The solar inverter is an essential element of solar panels. They convert the DC electricity of the solar panels into AC electricity. Additionally, the solar inverters are used for monitoring voltage, grid connection, and emergency shutdown. On-grid solar inverters provide extra performance and protection for domestic appliances.

Apart from being used in lots of residential and utility applications, those solar inverters are also used in lots of industrial and commercial tasks. This has extended the Solar Inverter Market Demand in recent times. Solar inverters are especially followed by residential and commercial end-users, in addition to PV plants. These inverters require expertise for their integration with the solar panels and, thus, require system integrators to put in and preserve them. Indirect income channels or 1/3 parties keep a large percentage of the inverter market as those channels are followed by inverter producers to offer their inverter answers to one-of-a-kind end users. Most key players in the market have well-established income networks and offer their merchandise globally.

The growth of the industry decreased during the COVID-19 pandemic. The demand for solar inverters becomes much less because the residential, commercial, and industrial construction and construction tasks have been halted for lots of months. These elements affected the Solar Inverter Market negatively.

Due to the upward push in the demand for solar inverters, the Solar Inverter Market Growth is anticipated to take place hastily in the coming years.

“Key Factors Likely to Drive Growth of Solar Inverter Market”

With the rapid development in the sector of renewable energy, solar energy is the most popularly used renewable energy. And hence the market growth of the Solar Inverter Market is increasing with time. Another factor supporting the growth of this market is the ease of installation of the solar inverters which makes them user-friendly. But the restraints faced by the market are high installation cost, huge heat loss in large solar inverters, and lack of monitoring of panels are the principal elements that would restrain the Solar Inverter Industry from having a steady increase. Nevertheless, the increased demands, adoption of recent technologies, and enterprise expansions through the key players are going to open many opportunities in the forecast period. A boom in government initiatives for distinctive forms of renewable energy sources is likewise going to assist in the increase of the Solar Inverter Market in the future.

Asia Pacific held the largest share in the Solar Inverter Market and is expected to continue this trend in the forecast period

Some of the key players in the Global Solar Inverter Market include- Delta Electronics Inc., Fimer S.P.A., Fronius International GmbH, Ginlong Technologies, Huawei Technologies Co. Ltd., Shenzhen Growatt New Energy Co. Ltd., Siemens AG, SMA Solar Technology AG, SolarEdge Technologies Inc., Sungrow Power Supply Co. Ltd. and others.

Energy & Power

Solar Inverter Market is expected to grow with a CAGR 8.5% from 2022 to 2028

02 Jun 2022

Min Read

Historical Data | Base Year 

Add banner

star icon

Access Full Report

Cosmetic Ingredients Market - Global Industry Assessment (2022 - 2028)

This report by Vantage Market Research delivers comprehensive analysis of Somatostatin Analogs Market , focusing on Market Size, Share & Trends Analysis Report by Type (Octreotide, Lanreotide, Pasireotide) by Application (Acromegaly, Neuroendocrine Tumors (NETs), Others) by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)

Request Sample

Related Reports

Healthcare

Veterinary Care Market Size, Share & Trends Analysis Report.

13 Nov 2023

10 Min Read

Healthcare

Surgical Imaging Market Size, Share & Trends Analysis Report.

13 Nov 2023

10 Min Read

Healthcare

Surgical Imaging Market Size, Share & Trends Analysis Report.

13 Nov 2023

10 Min Read

Latest Blogs

13 Nov 2023

Veterinary Care Market Size, Share & Trends Analysis Report.

Healthcare

13 Nov 2023

Surgical Imaging Market Size, Share & Trends Analysis Report.

Healthcare

13 Nov 2023

Surgical Imaging Market Size, Share & Trends Analysis Report.

Healthcare

vantage logo

Vantage Market Research & Consultancy Services is all about providing accurate and reliable market intelligence to its clients for the seamless execution of their business growth strategies.

© 2025 Vantage Market Research. All right reserved
Secured Bysecured by
Solar Inverter Market is expected to grow with a CAGR 8.5% from 2022 to 2028