Photovoltaic Inverter Market
Photovoltaic Inverter Market Global Industry Assessment & Forecast
#
Pages:
136
2021
Nov - 2021
VMR-2021-0778
Segments Covered
By
Product Standalone, On-Grid
-
By
Application Residential, Commercial, Industrial
Snapshot
 Forecast
Years:
|
2021 - 2028 |
 Historical
Years:
|
2016 - 2020 |
 Revenue
2021: |
8.4 Billion |
 Revenue 2028:
|
12.99 Billion |
 Revenue CAGR
(2021 - 2028): |
5.60% |
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
The report delivers an acute breakdown of the market based on various segments such as Product, Application, , and region. The report includes market size and forecast for each segment by region/country for the years 2016–2028. Moreover, it also covers a thorough analysis of growth factors and opportunities impacting segmental growth.
On the basis of Product, the market is divided into Standalone, On-Grid. Standalone dominated the global Photovoltaic Inverter market in 2020 and is projected to witness the same trend during the forecast period.
Based on Application, the market is segmented into Residential, Commercial, Industrial,. Commercial accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.
Global Photovoltaic Inverter Market: Product Segment Analysis
-
- Standalone
- On-Grid
Global Photovoltaic Inverter Market: Application Segment Analysis
-
- Residential
- Commercial
- Industrial
FAQ
Frequently Asked Question
What is the global demand for Photovoltaic Inverter in terms of revenue?
-
The global Photovoltaic Inverter valued at 8.4 Billion in 2020 and is expected to reach 12.99 Billion in 2028 growing at a CAGR of 5.60%%.
Which are the prominent players in the market?
-
The prominent players in the market are SMA, Danfoss, TMEIC, Omron, AE, ABB, Sungrow Power Supply Co. Ltd., SolarEage, Enphase, Huawei, Tebian Electric Apparatus Stock Co. Ltd. (TBEA)..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 5.60%% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
The driving factors of the Photovoltaic Inverter include
- Increasing demand for renewable energy due to high power consumption, coupled with growing demand for carbon reduction is propelling the market growth.
- Reduction in renewable power generation costs to spread the rapid adoption of renewable energy sources is creating a new scope for market growth.
Which region accounted for the largest share in the market?
-
Asia Pacific was the leading regional segment of the Photovoltaic Inverter in 2020.
