PV Inverters Market Likely to Emerge over a Period of 2017-2026

PV Inverters Market Likely to Emerge over a Period of 2017-2026

Press Release

According to Stratistics MRC, the PV Inverters is accounted for $7.32 billion in 2017 and is expected to reach $11.26 billion by 2026 growing at a CAGR of 4.9% during the forecast period.    One of the major driving factors for this market is growing solar photovoltaic industry. Additionally, the growing demand for energy coupled with regulatory framework that supports clean energy are also driving the market for PV inverters market. However, substitute clean energy technologies such as hydropower are holding back the market in some regions. With the technological development in solar photovoltaic market, PV inverter market is expected to face boom in demand.

A solar inverter or PV inverter is a type of electrical converter which converts the variable direct current (DC) output of a photovoltaic (PV) solar panel into a utility frequency alternating current (AC) that can be fed into a commercial electrical grid or used by a local, off-grid electrical network.

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Based on nominal output power, ≤ 300 W is estimated to have highest growth during the forecast period. ≤ 300 W photovoltaic inverter market share is predicted to witness robust growth on account of their deployment favoured by lowering product costs across small-scale solar PV applications. Improving unit efficiencies along with increasing inclination towards operational flexibility will augment the product demand. Furthermore, the growing demand for cost-efficient and cost-effective PV installations in line with increasing off-grid deployment will complement the business outlook. By geography, The U.S. photovoltaic inverter market is anticipated to witness overall industry growth market over the forecast period. Favourable regulatory measures pertaining to energy conservation and positive consumer outlook towards the deployment of sustainable energy will nourish the overall industry growth in North America region.

Some of the key players profiled in the PV inverter market include ABB, Delta Electronics Inc, Eaton, Emerson Electric Co, Hitachi Hi-Rel Power Electronics Pvt Ltd, Omron Corporation, Power Electronics, Siemens AG, SMA Solar Technolgy AG and SunPower Corporation.

Products Covered:
• Central PV inverter
• Micro PV inverter
• String PV inverter
• Other PV inverter

Types Covered:
• Parallel
• Separate

Connectivities Covered:
• Standalone
• On-Grid
• Off-grid
• Battery Backup Inverter

Nominal Output Powers Covered:
• 33,000 – 110,000 W
• > 110,000 W
• 3,000 – 33,000 W
• ≤ 300 W
• 300 -3,000 W

Nominal Output Voltages Covered:
• > 600 V
• 400 – 600 V
• ≤ 230 V
• 230 – 400 V

Power Classes Covered:
• Three Phase
• Single Phase

Sales Channels Covered:
• Direct Channel
• Indirect Channel
• PV Inverter Customers
• Distribution Channel

End Users Covered:
• Residential
• Utility
• Industrial
• Commercial

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Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

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