Solar Inverter Market
Solar Inverter Market by Product (String Solar Inverters, Hybrid Inverters, Off-grid Inverters, Micro Inverters,) by Application (Residential, Commercial, Utility,) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028
The global Solar Inverter market was valued at USD 8.23 Billion in 2020 and is projected to reach USD 23.66 Billion by 2028, growing at a CAGR of 14.11% from 2021 to 2028.
|Historical Data (Actual Data)||2016-2020|
|Base Year Data||2020|
|Current Year Date||2021|
|Projected year data||2021-2026|
|Annual Market Size (2028)||23.66 Billion|
|Annual Market Size (2021)|
|CAGR (2021 - 2028)||14.11%|
Definition and Overview
An inverter is one of the most important pieces of equipment in a solar energy system. It's a device that converts direct current (DC) electricity
The global Solar Inverter market report provides exhaustive analysis on segments, regions/countries, companies, and such several strategic marketing tools such as Porter’s Five Forces Analysis, Pricing Analysis, SWOT Analysis, PESTLE Analysis, Player Positioning Analysis, Downstream Buyers, List of distributors, and Value Chain Analysis among others. The report covers market size and estimations for each segment/region/country for the years 2016–2028. It provides a detailed study on various product types and their applications in different industry verticals at the global/regional/country level. Moreover, the report includes a thorough analysis on competitive landscape comprising of extensive company profiles based on various parameters such as company overview, market revenue, business, product portfolio, and marketing strategies among others.
COVID-19 Impact Analysis
Outbreak of COVID-19 in 2020 compelled governments across the world to take severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to restrict swift spread of COVID-19. However, these actions had a drastic impact on the global economy, as the companies across the globe were forced to either close or partially closed their operations, leading to supply chain disruptions and impairing of various industries. Moreover, in 2021 several key markets such as U.S., India, and Brazil among other witnessed second wave of COVID-19 that further disrupted the market. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.
The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:
o Impact Assessment of COVID-19 Pandemic
o Pre & Post COVID-19 Market Size
o Qualitative analysis on the short term & long-term impact of COVID-19 on the market
o The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.
Global Solar Inverter Market Report Scope
|Market Size Provided for Years||2016-2028|
|Market Size Provided In Terms Of||Revenue & Volume|
|Segments Covered||Product, Application|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Countries Covered||The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Companies Covered||Ginlong Solis, Enphase, Huawei, CPS America, TBEA SunOasis, Fronius, Schneider Electric, APsystems, Delta, TMEIC, Canadian Solar, Sineng, Power Electronics, SMA, HIQ Solar, Yaskawa Solectria Solar, Morningstar Corporation, Chilicon Power, Ingeteam, Solax Power, SolarEdge Technologies, Sungrow, KACO new energy, GoodWe, ABB.|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and Asia Pacific, company market share analysis, and COVID-19 impact analysis|
The report delivers an acute breakdown of the market based on various segments such as Product, Application and region. This study comprises the market size in terms of revenue for each segment at the global/regional/country level along with a detailed analysis of growth prospects, challenges, and opportunities.
On the basis of Product, the market is divided into String Solar Inverters, Hybrid Inverters, Off-grid Inverters, Micro Inverters,. String Solar Inverters is expected to dominate the market and is projected to grow at a noteworthy CAGR within the forecast period.
Based on Application, the market is divided into Residential, Commercial, Utility,. Commercial attributed to the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.
Global Solar Inverter Market: Product Segment Analysis
- String Solar Inverters
- Hybrid Inverters
- Off-grid Inverters
- Micro Inverters
Global Solar Inverter Market: Application Segment Analysis
Regional Analysis: Preview
Geographically, the global Solar Inverter market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The report further segments the regional study into key country-level markets from each region. The regional analysis section provides extensive analysis on various factors impacting market growth such as economies, industry competition, technological advancements, import-export ratio, and raw material availability among others. Moreover, the same section will provide your detailed qualitative as well as quantitative analysis for each region country comprising of market size and estimations for each region/country. Some of the prominent country-level markets are U.S., China, Germany, France, India, and Japan. Asia Pacific is anticipated to dominate the global market during upcoming years.
Market Size, 2021 (USD Billion)
Global Solar Inverter Market: Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
Major players in the global Solar Inverter market are Ginlong Solis, Enphase, Huawei, CPS America, TBEA SunOasis, Fronius, Schneider Electric, APsystems, Delta, TMEIC, Canadian Solar, Sineng, Power Electronics, SMA, HIQ Solar, Yaskawa Solectria Solar, Morningstar Corporation, Chilicon Power, Ingeteam, Solax Power, SolarEdge Technologies, Sungrow, KACO new energy, GoodWe, ABB.. The global Solar Inverter market report analyzes competitive scenario in detail that includes extensive information on all key players based on business overview, product portfolio, marketing strategies, recent developments, financial performance, and geographical presence among others. In addition to that, the report also covers company market share for the year 2020 along with in depth strategic developments.
Global Solar Inverter Market: Key Highlights
- The global Solar Inverter market was valued at USD 8.23 Billion in 2020.
- The global Solar Inverter Market is projected to reach USD 23.66 Billion by 2028
- is fueling the market growth
- Asia Pacific held the highest share of the Solar Inverter market in 2020.
- Some of the major companies operating in the Solar Inverter market are Ginlong Solis, Enphase, Huawei, CPS America, TBEA SunOasis, Fronius, Schneider Electric, APsystems, Delta, TMEIC, Canadian Solar, Sineng, Power Electronics, SMA, HIQ Solar, Yaskawa Solectria Solar, Morningstar Corporation, Chilicon Power, Ingeteam, Solax Power, SolarEdge Technologies, Sungrow, KACO new energy, GoodWe, ABB..
Frequently Asked Questions
the global demand for Solar Inverter
in terms of revenue?
The global Solar Inverter valued at 8.23 Billion in 2020 and is expected to reach 23.66 Billion in 2028 growing at a CAGR of 14.11%
are the prominent players
in the market?
The prominent players in the market are Ginlong Solis, Enphase, Huawei, CPS America, TBEA SunOasis, Fronius, Schneider Electric, APsystems, Delta, TMEIC, Canadian Solar, Sineng, Power Electronics, SMA, HIQ Solar, Yaskawa Solectria Solar, Morningstar Corporation, Chilicon Power, Ingeteam, Solax Power, SolarEdge Technologies, Sungrow, KACO new energy, GoodWe, ABB..
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 14.11% between 2021 and 2028.
the driving factors
fueling the growth of the market.
The driving factors of the Solar Inverter include
- The large inflow of investments in renewable energy sector and increasing technological innovations in inverters to improve their capabilities is anticipated to augment the growth of the solar inverter market over the forecast period.
- The rising percentage of residential solar rooftop installations is further anticipated to support the growth of the market in the near future.
region accounted for the
largest share in the market?
Asia Pacific was the leading regional segment of the Solar Inverter in 2020.