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Photovoltaic Inverter Market was valued at US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR 8% from 2019-2027.
The report has analyzed the drivers, restraints, and challenges facing the photovoltaic inverter market.
The increasing demand for renewable energy systems like PV inverters because of high power
consumption is driving the market of PV inverters. The global demand of solar inverters has
been growing robustly over the last few years. A key factor catalyzing this demand is the
increasing environmental concerns regarding greenhouse releases and the importance of solar
and other renewable energy sources to reduce these emissions.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Additionally, the rising cost of fossil fuels is also making solar power a more economical energy
source. However, use of substitute for instance hydropower energy system, because of the high
efficiency of electricity generation, restrain the market growth.
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Based on product, central PV inverter segment is expected to register a major revenue share in
the PV inverters market globally. These equipment are largely designed for large arrays of
panels installed on industrial facilities, buildings, and field installations. The product is usually
located in a protected environment and receives DC power from all solar panels into a
combiner box. It converts the received DC power to AC power and befits a single point for
On the basis on end-use, utilities emerged as the dominant end-use segment, accounting for
over 38% of the global market valuation in 2018 owing to grid-connected photovoltaic systems
that operate in parallel with the conventional electricity utility-grid.
The Asia Pacific PV inverter market is estimated to expand at the fastest CAGR of 4.5% during
the forecast period. The global PV inverters market was led by the region of the APAC.
Authorizing of many grid-scale solar farms across the region, particularly in India and China, has
contributed towards such unprecedented growth of the PV inverters market. Several purchase
initiatives and subsidies by the government also have played a crucial role in the region.
Key Developments in the Global PV Inverters Market:
In December 2017: Siemens AG had launched a 5,000 kVA central inverter, which would be
provided to utility-scale solar PV power plant projects across India, as part of its strategy to re-
enter PV inverter market in India.
The objective of the report is to present a comprehensive assessment of the market and
contains thoughtful insights, facts, historical data, industry-validated market data and
projections with a suitable set of assumptions and methodology. The report also helps in
understanding Global PV Inverters Market dynamics, structure by identifying and analyzing the
market segments and project the global market size. Further, the report also focuses on the
competitive analysis of key players by product, price, financial position, product portfolio,
growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s
analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts
and investment in the near future to the emerging segment in Global PV Inverters Market.
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Scope of the in Global PV Inverters Market
Global PV Inverters Market, By Product
Global PV Inverters Market, By End-Use
Commercial & Industrial
Global PV Inverters Market, By Region
Middle East and Africa
Key players operating in Global PV Inverters Market
Delta Electronics, Inc.
Emerson Electric Co
Hitachi Hi-Rel Power Electronics Pvt. Ltd.
SMA Solar Technolgy AG
KACO Omron Corporation,
Chint Power Systems America
Darfon Electronics Corp.
Elettronica Santerno S.p.A.
Fronius International GmbH
Fuji Electric Europe GmbH
Growatt New Energy Technology Co., Ltd.
Huawei Technologies Co. Ltd.
Ingeteam Corporacion, S.A.
SolarEdge Technologies, Inc.
Schneider Electric SE
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Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Name: Vikas Godage
Organization: MAXIMIZE MARKET RESEARCH PVT. LTD.
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