Market Overview:
The global off grid solar inverters market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for renewable energy sources, rising concerns about climate change, and government initiatives and subsidies for promoting the use of solar energy. The global off grid solar inverters market can be segmented on the basis of type into independent and hybrid systems. On the basis of application, it can be divided into residential, commercial, industrial, public utilities, and others. Geographically speaking, it is classified into North America (the U.S., Canada), Latin America (Mexico), Europe (Germany), Asia Pacific (China) and Middle East & Africa (South Africa).
Product Definition:
An off-grid solar inverter is an electronic device that converts direct current (DC) to alternating current (AC). It is used to power electrical loads in locations where grid power is not available. Off-grid solar inverters are typically used in remote or rural areas where there is no access to the grid, or in areas with unstable grid power.
Independent:
An independent solar PV inverter is a self-contained power system that contains all the components required to convert the DC electricity produced from the PV panels into AC power. The product includes an isolator, a battery, and a charge controller among other components. These products are manufactured in different ways based on their applications such as off-grid residential or commercial application.
Hybrid:
Hybrid solar PV system is a combination of photovoltaic modules and rechargeable batteries that work together to provide power. The hybrid system can be used in off-grid applications where access to grid power is not available.
The hybrid solar PV inverters are designed for use in outdoor or indoor applications, where the main source of energy is from a non-renewable source like coal, gas or even nuclear power plant.
Application Insights:
The others application segment includes government, healthcare, and educational institutions. The growing demand for clean energy inverters that can cater to fluctuating power supply has resulted in an increased off grid solar inverters market share across all the aforementioned applications.
Off grid solar inverters are used in residential as well as commercial applications owing to their ability to provide reliable power supply at a lower cost. Residential is the largest application segment of the off grid solar inverter market and is expected to grow at a CAGR of XX% from 2018-2030 owing to rising awareness about renewable energy among consumers coupled with increasing government support for installation of such systems in residential buildings.
The growing number of micro & small scale enterprises (MSES) across various developing countries including India, China and Brazil has resulted in an increased demand for offgrid hybrid solar PV system that meets their electricity needs without depending on oracles or central authorities for power supply.
Regional Analysis:
Europe accounted for the largest market share of over 35% in 2017. The region is expected to dominate the global off grid solar inverters market over the forecast period owing to increasing investments and favorable government policies. For instance, Germany has set a target of generating 40% of energy from renewable sources by 2020. To achieve this objective, it has planned various initiatives such as installation of large scale photovoltaic systems across its territory and offshore waters which is likely to drive industry growth in Europe during the forecast period.
Asia Pacific is anticipated to be one of the fastest-growing regions with a CAGR exceeding 6% from 2018 to 2030 owing high population density along with rapid industrialization.
Growth Factors:
- Increasing demand for electricity due to population growth and industrialization in developing countries
- Government policies and regulations supporting the use of renewable energy sources
- Reduction in the cost of solar photovoltaic (PV) systems
- Growing awareness about the benefits of off grid solar inverters among consumers
- Technological advancements that have led to the development of more efficient and reliable off grid solar inverters
Scope Of The Report
Report Attributes
Report Details
Report Title
Off Grid Solar Inverters Market Research Report
By Type
Independent, Hybrid
By Application
Residential, Commercial, Industrial, Public Utilities, Others
By Companies
SMA Solar Technology AG, OutBack Power, Schneider Electric, Morningstar Corp, Sensata Technologies，Inc, Fronius, Darfon Solar, Aims Power, JNTECH RENEWABLE ENERGY CO.,LTD, Xantrex LLC, Renogy, Yueqing Reliable Electric Co.,Ltd, Guangdong Prostar New Energy Technology Co., Ltd
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
228
Number of Tables & Figures
160
Customization Available
Yes, the report can be customized as per your need.
Global Off Grid Solar Inverters Market Report Segments:
The global Off Grid Solar Inverters market is segmented on the basis of:
Types
Independent, Hybrid
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Residential, Commercial, Industrial, Public Utilities, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- SMA Solar Technology AG
- OutBack Power
- Schneider Electric
- Morningstar Corp
- Sensata Technologies，Inc
- Fronius
- Darfon Solar
- Aims Power
- JNTECH RENEWABLE ENERGY CO.,LTD
- Xantrex LLC
- Renogy
- Yueqing Reliable Electric Co.,Ltd
- Guangdong Prostar New Energy Technology Co., Ltd
Highlights of The Off Grid Solar Inverters Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Independent
- Hybrid
- By Application:
- Residential
- Commercial
- Industrial
- Public Utilities
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Off Grid Solar Inverters Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Off grid solar inverters are devices that help to convert the direct sunlight into usable electricity. They can be used in conjunction with a battery system or solar panel array to provide power when there is no access to an electrical grid.
Some of the major companies in the off grid solar inverters market are SMA Solar Technology AG, OutBack Power, Schneider Electric, Morningstar Corp, Sensata Technologies，Inc, Fronius, Darfon Solar, Aims Power, JNTECH RENEWABLE ENERGY CO.,LTD, Xantrex LLC, Renogy, Yueqing Reliable Electric Co.,Ltd, Guangdong Prostar New Energy Technology Co., Ltd.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Off Grid Solar Inverters Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Off Grid Solar Inverters Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Off Grid Solar Inverters Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Off Grid Solar Inverters Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Off Grid Solar Inverters Market Size & Forecast, 2018-2028
4.5.1 Off Grid Solar Inverters Market Size and Y-o-Y Growth
4.5.2 Off Grid Solar Inverters Market Absolute $ Opportunity
Chapter 5 Global Off Grid Solar Inverters Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Off Grid Solar Inverters Market Size Forecast by Type
5.2.1 Independent
5.2.2 Hybrid
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Off Grid Solar Inverters Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Off Grid Solar Inverters Market Size Forecast by Applications
6.2.1 Residential
6.2.2 Commercial
6.2.3 Industrial
6.2.4 Public Utilities
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Off Grid Solar Inverters Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Off Grid Solar Inverters Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Off Grid Solar Inverters Analysis and Forecast
9.1 Introduction
9.2 North America Off Grid Solar Inverters Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Off Grid Solar Inverters Market Size Forecast by Type
9.6.1 Independent
9.6.2 Hybrid
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Off Grid Solar Inverters Market Size Forecast by Applications
9.10.1 Residential
9.10.2 Commercial
9.10.3 Industrial
9.10.4 Public Utilities
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Off Grid Solar Inverters Analysis and Forecast
10.1 Introduction
10.2 Europe Off Grid Solar Inverters Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Off Grid Solar Inverters Market Size Forecast by Type
10.6.1 Independent
10.6.2 Hybrid
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Off Grid Solar Inverters Market Size Forecast by Applications
10.10.1 Residential
10.10.2 Commercial
10.10.3 Industrial
10.10.4 Public Utilities
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Off Grid Solar Inverters Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Off Grid Solar Inverters Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Off Grid Solar Inverters Market Size Forecast by Type
11.6.1 Independent
11.6.2 Hybrid
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Off Grid Solar Inverters Market Size Forecast by Applications
11.10.1 Residential
11.10.2 Commercial
11.10.3 Industrial
11.10.4 Public Utilities
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Off Grid Solar Inverters Analysis and Forecast
12.1 Introduction
12.2 Latin America Off Grid Solar Inverters Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Off Grid Solar Inverters Market Size Forecast by Type
12.6.1 Independent
12.6.2 Hybrid
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Off Grid Solar Inverters Market Size Forecast by Applications
12.10.1 Residential
12.10.2 Commercial
12.10.3 Industrial
12.10.4 Public Utilities
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Off Grid Solar Inverters Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Off Grid Solar Inverters Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Off Grid Solar Inverters Market Size Forecast by Type
13.6.1 Independent
13.6.2 Hybrid
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Off Grid Solar Inverters Market Size Forecast by Applications
13.10.1 Residential
13.10.2 Commercial
13.10.3 Industrial
13.10.4 Public Utilities
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Off Grid Solar Inverters Market: Competitive Dashboard
14.2 Global Off Grid Solar Inverters Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 SMA Solar Technology AG
14.3.2 OutBack Power
14.3.3 Schneider Electric
14.3.4 Morningstar Corp
14.3.5 Sensata Technologies，Inc
14.3.6 Fronius
14.3.7 Darfon Solar
14.3.8 Aims Power
14.3.9 JNTECH RENEWABLE ENERGY CO.,LTD
14.3.10 Xantrex LLC
14.3.11 Renogy
14.3.12 Yueqing Reliable Electric Co.,Ltd
14.3.13 Guangdong Prostar New Energy Technology Co., Ltd
