Description:-
A solar inverter is a common inverter but uses energy from the sun that is solar energy. This type of inverter aids in changing the DC into AC using solar power. The Solar Inverter is an essential device and its basic function of the inverter is to change the variable Direct Current output of the solar panels into Alternating Current. There are a few types of solar inverters available in the market which includes Micro Inverters, String Inverters and Central Inverter.
Growing awareness towards the use of renewable energy sources across the world that have led to the large-scale adoption of solar photovoltaic (PV) installations. The rising affordability of energy storage devices creates ample opportunities for the market. Moreover, Government also setting targets and introducing polices for promoting renewable energy as well as to reduce carbon emissions. Increasing awareness regarding fossil fuel conservation and clean fuel demand will complement the industry growth. However, the market also faces certain challenges such as high cost of solar inverter and high maintenance cost and others as well. Despite the challenges, there has been certain market trends that have pushed the market growth for solar inverter market such as power source in remote areas and also acting as a solar energy storage.
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The global solar inverter market is expected to grow at 15.65% CAGR during the forecast period. In 2016, the market was led by Asia-Pacific, with a 49.6 % share, followed by Europe and North America with shares of 35.0% and 12.3%, respectively. Solar inverter market is segmented into type, system type, end user and region wise. On the basis of type, Central type accounted for the largest market share of 45.12% in 2016 and is projected to grow at a CAGR of 15.31% during the forecast period. On the basis of system type, it is segmented into on-grid and off-grid. On-grid accounted for the largest market share and expected to grow at a CAGR of 15.86 %. On the basis of end user, utilities accounted for the largest market share of 40.10% in 2016. Solar inverter has great scope in Asia-Pacific region due to increasing demand for energy and 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.
Study Objectives of Global Solar Inverter Market
– To provide detailed analysis of the market structure along with forecast for the next 10 years of the various segments and sub-segments of the Solar Inverter Market
– To provide insights about factors affecting the market growth
– To Analyze the Solar Inverter market based on various factors- Price Analysis, Supply Chain Analysis, and Porter’s Five Force Analysis.
– To provide historical and forecast revenue of the market segments and sub-segments with respect to six main geographies and their countries-Europe, North America, Asia-Pacific, Rest of the World.
– To provide country level analysis of the market with respect to the current market size and future prospective
– To provide country level analysis of the market for segments: type, system type, end user as well as its sub segments
– To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
– To track and analyze competitive developments such as partnerships and collaborations, product launch, mergers and acquisitions, and expansions in the global Solar Inverter market
Intended Audience
• Distributer & Supplier companies
• End-Users
• Consultants and Investment bankers
• Government as well as Independent Regulatory Authorities
Key Players
Some of the key players in the global solar inverter market are ABB Ltd (Switzerland), SMA Solar Technology AG (Germany), Canadian Solar Inc. (Canada), SolarEdge Technologies Inc. (Israel), SunPower Corporation (U.S.), Delta Electronics, Inc. (Taiwan), Solectria Renewables, LLC (U.S.), Sineng Electric Co., Ltd. (China), Hitachi Hi-Rel Power Electronics Pvt. Ltd (India), and Power electronics (Spain). The key strategies followed by most companies within the global solar inverter market were those of new product development and expansion.
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Table Of Contents – Major Key Points
1 Executive Summary 12
2 Introduction 13
2.1 Definition 13
2.2 Scope of the Study 13
2.3 Assumptions 13
2.1 Market Structure 14
3 Research Methodology 15
3.1 Research Process 15
3.2 Primary Research 16
3.3 Secondary Research 16
3.4 Market Size Estimation 16
3.5 Forecast Model 18
4 Market Dynamics 19
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 23
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
6 Global Solar Inverter Market, By Type 27
6.1 Introduction 28
6.2 String inverter 29
6.3 Central inverter 29
6.4 Micro Inverter 29
7 Global Solar Inverter Market, By System Type 30
7.1 Introduction 31
7.2 On- Grid 32
7.3 Off-Grid 32
8 Global Solar Inverter Market, By End-User 33
8.1 Introduction 34
8.2 Residential 35
8.3 Commercial 36
8.4 Utilities 36
Continued……
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