Solar Inverter Market Size, Comprehensive Analysis and Global Leaders Report | Industry Details For Business Development 2023

Global Solar Inverter Market With A Share And Expected To Grow At A Cagr Of 16.85% During The Forecast Period
Global Solar Inverter Market, By Type, By System Type , By End-Users (Residential, Commercial and Utility) and Region – Forecast 2017-2023

Solar Inverter Global Market – Overview

Solar inverter plays a vital role in a solar energy system. Solar Inverter converts DC power output into AC current which can be further fed into the grid and unswervingly influences the efficiency and reliability of a solar energy system. Solar Inverter are used in solar rooftop and ground-mounted residential, commercial and utility-scale systems, with system ratings of up to 3kW, 3–10 kW, 10 kW–2 MW and above 2 MW, respectively.

One of the principal drivers for the growth of solar energy is the significant part played by the government initiatives and policies. Certain policies such as solar energy production, distribution and consumption, are developed by governments to sustain growth. Solar energy policies comprise legislation, international treaties and incentives to investment such as the formation incentives in the U.S. urbanization and economic development are leading to a quick rise in energy demand in urban areas. Government are setting targets and announcing polices for promoting renewable energy as well as to reduce harmful carbon emissions.

Top Key Player:-

  • Siemens AG, Xerox Corp.
  • BMW Group 
  • Robert Bosch GmbH 
  • Valeo SA
  • Cubic Corporation
  • Amco S.A.
  • Altiux Innovations
  • Continental AG
  • CivicSmart, Inc.

 

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Solar Inverter Market – Segmentation

The Global Solar Inverter Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by Type                    : Comprises string inverter, central inverter, and micro inverter

Segmentation by System Type       : Comprises on-grid and off-grid

Segmentation by End-User            : Comprises residential, commercial, and utilities

Segmentation by Regions               : Comprises Geographical regions – North America, Europe, APAC and Rest of the World.

Industry News:

Key strategies followed by most companies within the global Solar Inverter market were merger & expansion.

On September 2017, ABB Ltd. has signed contracts with FRV, a leading global utility-scale solar developer, for the supply of central inverter solutions for two PV power plants in Jordan. The company had developed various products such as TRIO string inverter, high-power central inverter, PVS800-57B and also takes significant step forward in optimizing solar energy usage. This development will diversify their product line and reach to the customer. Moreover, Company had extended its geographic reach and manufacturing capabilities by making contract with FRV, the leading player for the supply of central inverter solutions.

In 17 Jan, 2017, Canadian solar subsidiary recurrent energy announces commercial operation of two solar photovoltaic projects in California. On 30 Nov 2015. Canadian Solar Inc. announced that its wholly owned subsidiary, Recurrent Energy, one of North America’s largest solar project developers, signed a partnership agreement with Southern Power, a subsidiary of Southern Company.

On Sep 2017, Delta launched Hybrid Inverter E-Series and All-in-One Energy Storage Solution for the Residential Solar Market

On 7 September, 2017– Solectria Solar introduced its new Solectria SLX line of American made inverters for commercial and utility-scale applications.

Table Of Content – Major Points:-

1 EXECUTIVE SUMMARY

2.1 Definition 13 

3 RESEARCH METHODOLOGY

4 MARKET DYNAMICS

4.1 Drivers 20 
4.1.1 Growing Solar Systems Installations 20 
4.1.2 Government Initiatives And Policies 21 
4.1.3 Reduction In Carbon Emission 21 
4.2 Restraint 21 
4.2.1 High Cost Of Solar Inverter And High Maintenance Cost 21 
4.3 Opportunity 21 
4.3.1 As Power Source In Remote Areas 21 
4.3.2 Solar Energy Storage 22

5 MARKET FACTOR ANALYSIS

5.1 Porter’s 5 Forces Analysis 23 
5.1.1 Threat Of New Entrants 24 
5.1.2 Bargaining Power Of Suppliers 24 
5.1.3 Threat Of Substitutes 24 
5.1.4 Bargaining Power Of Buyers 24 
5.1.5 Segment Rivalry 24 
5.2 Supply Chain Analysis 25

To be Continued………

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Solar Inverter Market: Regional Analysis

Asia-Pacific is one of the largest markets for solar inverter in the world. There is an increasing demand for energy because of the growing population and rising disposable income in the region. Moreover, these rapidly growing economies in this region are also the top polluters in the world. Solar energy is identified as the best replacement to other conventional fossil fuel energy sources and is used to reduce carbon emission by effectively meeting the electricity needs. According to the National Energy Administration of China, in 2016, the installed PV capacity was 77.42 gigawatts and solar plants in the country generated 66.2 billion kilowatt-hours of power last year. The country has further plans to add 110 gigawatts within the next three years, which is driving the market for the solar Inverter in the country.

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