The findings evaluated by GME implied that the Global PV Inverter Market will grow with a 5.2 percent CAGR from 2021 to 2026. The growing number of solar installations and increasing investments for the clean energy network are some of the key factors driving demand growth in the coming years.
Browse 157 Market Data Tables and 117 Figures spread through 187 Pages and in-depth TOC on "Global PV Inverter Market - Forecast to 2026."
By Product (Micro PV Inverter, Central PV Inverter, String PV Inverter, Others), By Power Class (Three Phase, Single Phase), By Connectivity (Stand-alone, On-Grid), By End-Use (Residential, Utilities, Commercial & Industrial), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis
Key Market Insights
· The special functions of solar power inverters are modified for use with photovoltaic arrays, like maximum power point monitoring and anti-island defense.
· The growing demand for sustainable energy due to high energy consumption is anticipated to boost market growth in the upcoming years
· The growing investment in the production of large-scale solar PV infrastructure will boost the outlook for the industry throughout the coming years.
· The utility segment is anticipated to boost market share as well as grow during the expected timeframe at a high CAGR pace.
· In 2019, the central PV inverter sector accounted for the largest revenue share
· In terms of sales, the Asia-Pacific region holds the leading market position as well as demonstrate a substantial CAGR rate over the projected timeframe.
· ABB, SunPower, Siemens Energy, Eaton, Power Electronics S.L., SMA Solar Technology AG, Delta Electronics Inc., OMRON Corporation, TBEA, Emerson Electric Co., General Electric, and Hitachi Hi-Rel Power Electronics Private Limited, among others are the prime players that compete in the market.
Browse the Report @ https://www.globalmarketestimates.com/market-report/global-pv-inverter-market-2930
Product Outlook (Revenue, USD Billion, 2021-2026)
· Micro PV Inverter
· Central PV Inverter
· String PV Inverter
Power Class Outlook (Revenue, USD Billion, 2021-2026)
Connectivity Outlook (Revenue, USD Billion, 2021-2026)
End-Use Outlook (Revenue, USD Billion, 2021-2026)
· Commercial& Industrial
Regional Outlook (Revenue, USD Billion, 2021-2026)
Rest of Europe
Rest of APAC
Central & South America
Rest of CSA
Middle East & Africa
Rest of MEA
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PV Inverter Market: Insights
The output of the photovoltaic (PV) solar panel differential direct current (DC) is transformed by a PV
inverter into an alternating current (AC) utility frequency that can be integrated into a commercial
power grid or used by a central, off-grid electric grid. The special functions of solar power inverters are
modified for use with photovoltaic arrays, like maximum power point monitoring and anti-island
In the upcoming years the rising demand for renewable power due to high energy use, along with a
decrease in the cost of generating renewable energy, is expected to boost the market growth. The
relatively recent applications of solar inverters are PV plants. The number of solar panels installed in
PV plants is high, and the special integration of solar inverters for each panel may not be convenient
Furthermore, growing investment in the production of large-scale solar PV infrastructure will boost the
outlook for the industry. In addition to regulatory steps to ensure energy stability and the availability of
stable and uninterruptible power supplies, the optimistic market outlook would stimulate the potential
of the industry. Growing concerns about the environmental effects of the production of energy from
traditional sources such as coal and natural gas are expected to serve as a possibility for the demand
for solar photovoltaic inverters.
The photovoltaic inverter supply chain is significantly complex and involves part manufacturers,
inverter producers, dealers, distributors, and end-users. Multiple components of the solar supply chain
account for various generations of sales, such as the large portion of panels accompanied by batteries
and inverters. Solar energy has gained prominence rapidly. It generates energy without emissions,
without fluctuations in f