According to the GMI Research
forecasts, the global solar inverter market was expected to be USD XX Million
in 2019 and is projected to grow at a CAGR of XX during the forecast period
(2020-2027).
Request Sample Report of Global Solar
Inverter Market:
The rapid infrastructural development and the strong demand for a 24*7
electricity supply, are the major factors contributing to the growth of the
global solar inverter market size. Various governments worldwide are
emphasizing on infrastructural development to enhance their citizen's quality
of life. For example, the UAE government is aiming at the Smart Dubai project, which
focuses on transforming the city into a top global smart city. The increasing
construction activities is a key driver that will augment the demand for the
market. Moreover, the rising greenhouse gas effect and growing environmental
concerns are the prominent factors propelling the growth of the solar
inverters market share in terms of revenue. The solar inverter reduces the
high cost of electricity bills and increases efficiency in the long run.
Numerous stakeholders in the energy generation sector are proactively searching
for opportunities to decrease carbon footprints by focusing on utilizing
renewable energy sources for power generation. For example, in 2019, the
Italian government emphasized touching 50GW of solar power generation by 2030
to rise the share of renewable energy sources in the nation's total power
generation. The increasing aim at renewable energy sources will further
stimulate the growth of the solar inverter market. On the other hand, the
constant requirement for sunlight, high initial installation cost, and the need
for a large area for installation will hinder the growth of the market during
the forecast period.
Know more about the Global Solar Inverter Market:
On the basis of Technology, the market is segmented into micro-inverters,
central inverters, power optimizers, and string inverters. The central
inverters is expected to increase at a faster CAGR in the upcoming years. This
is mainly attributed to the high demand for energy driven by the increasing
urbanization and the rising use of electricity at the global level. The central
inverters are majorly used in industries, buildings, and in several field installations.
These inverters provide a lower capital cost per watt, offer better
productivity, and are easy to install as compared to other kinds of solar
inverters. All these factors are projected to fuel the demand for central
inverters.
On the basis of End Use, the market is segmented into commercial,
industrial, and utility inverters. The industrial end-user is predicted to
dominate the market during the forecast cast due to the increasing number of
government initiatives to encourage the use of renewable energy sources for
power generation. Additionally, the continuous rise in investments in the
renewable energy industry will further accelerate the growth of the market.
Based on the region, Asia-pacific is projected to dominate
the market over the coming years due to increasing power outages, specifically
in emerging countries like China and India. In addition to this, the increasing
number of initiatives, including India's National Solar Mission, will
positively influence the market's demand. For example, NABARD allows a 40%
subsidy for those who are buying solar inverters. All these drivers will pay
the way for the growth of the market.
Various notable players operating in the global solar
inverter market include Schneider Electric, Emerson Electric Co., Power-One,
Inc., KACO New Energy Inc., SMA Solar Technology AG, SunPower Corporation,
SolarEdge Technologies Inc., Canadian Solar, Hitachi Hi-Rel Electronics Private
Limited, and Solectria Solar, among others.
The global Solar Inverter market has been segmented on the
basis of technology, end use, and region. Based on the technology, the market
is segmented into micro-inverters, central inverters, string inverters and
power optimizers. Based on end use, the market is segmented into commercial, industrial,
residential and utility inverters.
Solar Inverter Market Segmentation:
Global Solar Inverter Market by Technology:
·
Central
Inverters
·
Micro-Inverters
·
String
Inverters
·
Power
Optimizers
Global Solar Inverter Market by End
Use:
·
Industrial
·
Residential
·
Commercial
·
Utility
Inverters
Global Solar Inverter Market by Region:
·
North
America Solar
Inverter Market (Option 1: As a part of the free 25% customization)
o
North
America Market by Technology
o
North
America Market by End Use
o
United
States Solar Inverter Market
o
Canada
Solar Inverter Market
·
Europe
Solar Inverter Market (Option 2: As a part of the free 25% customization)
o
Europe
Market by Technology
o
Europe
Market by End Use
o
UK
Solar Inverter Market
o
Germany
Solar Inverter Market
o
France
Solar Inverter Market
o
Spain
Solar Inverter Market
o
Rest
of Europe Solar Inverter Market
·
Asia-Pacific
Solar Inverter Market (Option 3: As a part of the free 25% customization)
o
Asia-Pacific
Market by Technology
o
Asia-Pacific
Market by End Use
o
China
Solar Inverter Market
o
India
Solar Inverter Market
o
Japan
Solar Inverter Market
o
Rest
of APAC Solar Inverter Market
·
RoW
Solar Inverter Market (Option 4: As a part of the free 25% customization)
o
RoW
Market by Technology
o
RoW
Market by End Use
o
Brazil
Solar Inverter Market
o
South
Africa Solar Inverter Market
o
Saudi
Arabia Solar Inverter Market
o
UAE
Solar Inverter Market
o
Rest
of world (remaining countries of the LAMEA region) Solar Inverter Market
Major Players Operating in the Solar Inverter Market (Option 5: As a part of the Free 25%
Customization - Profiles of 5 Additional Companies of your Choice)
·
Schneider Electric,
·
Emerson Electric
Co.
·
Power-One, Inc.
·
KACO New Energy
Inc.
·
SMA Solar
Technology AG
·
SunPower
Corporation
·
SolarEdge
Technologies Inc.
·
Canadian Solar
·
Hitachi Hi-Rel
Electronics Private Limited
·
Solectria Solar
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