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Solar Pv Inverters Market

Solar Pv Inverters Market

Solar Pv Inverters Market Global Industry Assessment & Forecast

# Pages:

169

Base Year:

2021

Nov - 2021

Format:

Report Code:

VMR-2021-0780

Segments Covered
  • By Product String inverters, Central inverters, Microinverters, Battery based, Hybrid Inverters
  • By Application Residential, Commercial, Industrial
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: 8.5 Billion
Revenue 2028Revenue 2028: 12.53 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 5.53%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst

Key Insights

The global Solar Pv Inverters market was valued at USD 8.5 Billion in 2020 and is projected to reach USD 12.53 Billion by 2028, growing at a CAGR of 5.53%% from 2021 to 2028.

Years Parameters
Historical Data (Actual Data) 2016-2020
Base Year Data 2020
Current Year Date 2021
Projected year data 2021-2026
Annual Market Size (2028) 12.53 Billion
Annual Market Size (2021)
CAGR (2021 - 2028) 5.53%%

Definition And Overview

A solar inverter or PV inverter, is a type of electrical converter which converts the variable direct current (DC) output of a photovoltaic (PV) solar panel into a utility frequency alternating current (AC) that can be fed into a commercial electrical grid or used by a local, off-grid electrical network


The global Solar Pv Inverters market report provides a thorough analysis of each segment including Product,Application and for each region, and country. All the segments are studied considering historical and future trends across geographies. All the segments covers trends, market size, and forecasts, and the data is provided for the years 2016–2028. Moreover, the report also covers exhaustive analysis on competitive scenario of the global market covering in depth company profiles based on business overview, financial performance, product portfolio, business strategies, recent developments, and market share among others. In addition to that the report offers several market impacting factors such as drivers, restraints, and opportunities. Cumulatively, the report will cover all of the aspects regarding the global Solar Pv Inverters market. 

Yearly Infographics 8.5 Billion 12.53 Billion

COVID-19 Impact Analysis

In 2020, swift spread of COVID-19 largely impacted the global business operations, disrupting the supply chain and impairing various industries. The global trading activities were declined severely owing to the nationwide lockdowns, international border seals, and strict social distancing measures. This had a drastic impact on the global economy, as the companies across the globe were forced to either fully close or partially close their operations, leading to disruption in the supply-demand ratio. Moreover, in 2021 several key markets such as U.S., India, and Brazil among others witnessed a 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.

Industry Analysis

The report covers an exhaustive analysis of Solar Pv Inverters industry that includes drivers, restraints/challenges, opportunities, and segmental/regional trends among others. Apart from that, it will also cover extensive information on various marketing tools such as PEST Analysis, Porter’s Five Forces Analysis, pricing trends,  SWOT analysis, and value chain analysis along with technological landscape and regulatory framework specific to Solar Pv Inverters industry.


Increasing demand for renewable energy due to high power consumption to reduce carbon emission is driving the market growth. 

Reduction in renewable power generation costs and subsidies adopted by the various government bodies is also primarily driving the market growth. 

Persistent pressure on equipment suppliers due to anti-dumping tariffs by oversupplied countries is restraining the market growth.

Global Solar Pv Inverters Market Report Scope

Parameter Details
Market Size Provided for Years 2016-2028
Base Year 2020
Historic Years 2016-2020
Forecast Years 2021-2028
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 KACO, Advanced Energy, TMEIC, STECA, Eaton, Tabuchi, Emerson Electric, Sungrow, Siemens, Satcon, Omron, AROS Solar, Ingeteam, Fronius, Kostal, Mitsubishi Electric, Enphase, ABB, Schneider, SMA.
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

Market Segmentation

Product  Analysis: Preview

On the basis of Product, the market is segmented into String inverters, Central inverters, Microinverters, Battery based, Hybrid Inverters,. String inverters held the highest share in the global Solar Pv Inverters market and is projected to witness the same trend during the forecast period.

Application Analysis: Preview

Based on Application, the market is segmented into Residential, Commercial, Industrial,. Industrial accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.

Analysis: Preview

Based on , the market is segmented into . dominates the global Solar Pv Inverters market and is expected to continue the same trend from 2021 to 2028. 

Global Solar Pv Inverters Market: Product Segment Analysis

    • String inverters
    • Central inverters
    • Microinverters
    • Battery based
    • Hybrid Inverters

Global Solar Pv Inverters Market: Application Segment Analysis

    • Residential
    • Commercial
    • Industrial

Regional Analysis: Preview

Based on geography, the global Solar Pv Inverters market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The regional section is further bifurcated into key country level markets for each region. Some of the prominent country-level markets are U.S., China, Germany, France, India, and Japan. It covers market size and estimations for each segment by region and country for the years 2016–2028. Asia Pacific dominates the global Solar Pv Inverters market and is expected to continue the same trend during upcoming years. This is accredited to the presence of key market players combined with rising demand from the end-users.  

Market Size, 2021 (USD Billion)
North America
Europe
Asia Pacific
South America
Middle East Africa

Global Solar Pv Inverters Market: Regional Analysis

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

Competitive Landscape

Major players in the global Solar Pv Inverters market are KACO, Advanced Energy, TMEIC, STECA, Eaton, Tabuchi, Emerson Electric, Sungrow, Siemens, Satcon, Omron, AROS Solar, Ingeteam, Fronius, Kostal, Mitsubishi Electric, Enphase, ABB, Schneider, SMA.. The global Solar Pv Inverters market report covers an exhaustive analysis of all the key players in the industry. This includes a business overview, extensive portfolio, business strategies, news, financial performance, length of distribution network,  and geographical presence among others. In addition to that, the report also covers company market share along with in-depth strategic developments.   

Global Solar Pv Inverters Market: Key Highlights

  • The global Solar Pv Inverters market was valued at USD 8.5 Billion in 2020
  • The global Solar Pv Inverters Market is projected to reach USD 12.53 Billion by 2028
  • Asia Pacific held the highest share of the Solar Pv Inverters market in 2020
  • Some of the major companies operating in the Solar Pv Inverters market are KACO, Advanced Energy, TMEIC, STECA, Eaton, Tabuchi, Emerson Electric, Sungrow, Siemens, Satcon, Omron, AROS Solar, Ingeteam, Fronius, Kostal, Mitsubishi Electric, Enphase, ABB, Schneider, SMA.

FAQ
Frequently Asked Question
  • The global Solar Pv Inverters valued at 8.5 Billion in 2020 and is expected to reach 12.53 Billion in 2028 growing at a CAGR of 5.53%%.

  • The prominent players in the market are KACO, Advanced Energy, TMEIC, STECA, Eaton, Tabuchi, Emerson Electric, Sungrow, Siemens, Satcon, Omron, AROS Solar, Ingeteam, Fronius, Kostal, Mitsubishi Electric, Enphase, ABB, Schneider, SMA..

  • The market is project to grow at a CAGR of 5.53%% between 2021 and 2028.

  • The driving factors of the Solar Pv Inverters include

    • Increasing demand for renewable energy due to high power consumption to reduce carbon emission is driving the market growth.
    • Reduction in renewable power generation costs and subsidies adopted by the various government bodies is also primarily driving the market growth.

  • Asia Pacific was the leading regional segment of the Solar Pv Inverters in 2020.