Market Overview:
The global renewable energy inverter market is expected to grow from USD 9.5 billion in 2018 to USD 23.8 billion by 2030, at a CAGR of 13.9% from 2018 to 2030. The growth of the market can be attributed to the increasing demand for renewable energy sources across the globe and government initiatives and policies supporting the adoption of renewable energy sources. Based on type, the solar PV segment is expected to lead the global renewable energy inverter market during the forecast period. Solar PV systems are increasingly being adopted owing to their low cost and easy installation as compared with other types of renewables such as wind and EV systems.
Product Definition:
Renewable Energy Inverters are devices that convert renewable energy, such as solar power or wind power, into electricity that can be used in homes and businesses. Renewable Energy Inverters are important because they allow people to use renewable energy to power their homes and businesses, which helps reduce greenhouse gas emissions and helps conserve fossil fuels.
Solar PV:
Solar PV, or photovoltaic, is a technology that uses the sun's energy to generate electricity. The basic components of a solar PV system are the solar panels (also known as modules), an inverter, and an optional battery storage system. A solar panel is made up of semiconductor materials such as silicon wafers or crystalline silicon that capture and convert sunlight into electrical energy.
EV:
Electric Vehicles (EV) are powered by electricity and they are designed to carry passengers and goods using a combination of rechargeable battery packs and electric motors. EVs have higher efficiency than conventional vehicles as they use less energy for the same task. They also reduce pollution, which is one of the major concerns associated with non-renewable energy sources like fossil fuels.
The growing demand for clean fuel is expected to drive renewable energy inverter market over the forecast period.
Application Insights:
The waste management application segment accounted for the largest revenue share of over 30% in 2017. The growing focus on reducing greenhouse gas emissions coupled with increasing government support is expected to drive the demand for renewable energy inverters in this sector.
Renewable energy inverters are used to power streetlights and illuminate public parks, walkways, and buildings across several countries including Brazil, China, Germany, India Italy Mexico Portugal Russia Spain Thailand and the U.S., among others. In addition to being used directly by consumers; these products are also deployed at numerous locations across various industries such as waste management & recycling plants; hospitals; office buildings etcetera owing to their ability to generate electricity from solar PV or wind farms thereby eliminating diesel generators or other fossil-fueled equipment from service life cycle of these applications.
Regional Analysis:
Asia Pacific is anticipated to witness significant growth over the forecast period owing to increasing installation of renewable energy infrastructure. The region accounted for a share of more than 35% in 2016 and is estimated to grow at a CAGR exceeding 6% from 2017 to 2030. This can be attributed mainly to the rising installations of solar PV systems across countries such as China, Japan, and India.
The European market was valued at USD X million in 2016.
Growth Factors:
- Increasing demand for renewable energy sources: The growth in the renewable energy inverter market can be attributed to the increasing demand for renewable energy sources across the globe. This is due to the growing concerns over climate change and rising electricity costs.
- Government initiatives and subsidies: Governments of various countries are promoting the use of renewable energy by providing subsidies and incentives to promote its adoption. This is aiding in the growth of the renewables inverter market.
- Technological advancements: Renewable Energy Inverters are becoming more efficient with each passing day with technological advancements such as smart grid technology, which helps in better management of power grids, storage solutions, etc., aiding their uptake among consumers/end users.. 4) Rising awareness about benefits of using renewables: There is a growing awareness among people about th e benefits o f using rene w able ene rgy sour ces . Thi s i s hel ping t he mar ket fo r re new abl e energ y inverters grow at a fast pace . 5) Declining prices of solar PV modules: Prices o f sola r PV modules hav e declin ed significantly over th e past few years , making it affordable for consumers to install solar PV systems
Scope Of The Report
Report Attributes
Report Details
Report Title
Renewable Energy Inverter Market Research Report
By Type
Solar PV, EV, Wind
By Application
Waste Management, Public Transit, Illumination, Other
By Companies
ABB Ltd., Huawei Investment & Holding Co. Ltd., Jiangsu GoodWe Power Supply Technology Co. Ltd., KACO new energy GmbH, Mitsubishi Electric Corp., Power Electronics España SL, Schneider Electric SE, Sineng Electric Co. Ltd., SMA Solar Technology AG, Sungrow Power Supply Co. Ltd., ABB 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
225
Number of Tables & Figures
158
Customization Available
Yes, the report can be customized as per your need.
Global Renewable Energy Inverter Market Report Segments:
The global Renewable Energy Inverter market is segmented on the basis of:
Types
Solar PV, EV, Wind
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
Waste Management, Public Transit, Illumination, Other
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:
- ABB Ltd.
- Huawei Investment & Holding Co. Ltd.
- Jiangsu GoodWe Power Supply Technology Co. Ltd.
- KACO new energy GmbH
- Mitsubishi Electric Corp.
- Power Electronics España SL
- Schneider Electric SE
- Sineng Electric Co. Ltd.
- SMA Solar Technology AG
- Sungrow Power Supply Co. Ltd.
- ABB Ltd.
Highlights of The Renewable Energy Inverter 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:
- Solar PV
- EV
- Wind
- By Application:
- Waste Management
- Public Transit
- Illumination
- Other
- 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 Renewable Energy Inverter 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?
Renewable energy inverters are devices that help convert renewable energy into usable forms such as electricity, heat, or water. They can be used to power homes and businesses with clean, renewable energy sources like solar and wind.
Some of the major players in the renewable energy inverter market are ABB Ltd., Huawei Investment & Holding Co. Ltd., Jiangsu GoodWe Power Supply Technology Co. Ltd., KACO new energy GmbH, Mitsubishi Electric Corp., Power Electronics Espa±a SL, Schneider Electric SE, Sineng Electric Co. Ltd., SMA Solar Technology AG, Sungrow Power Supply Co. Ltd., ABB Ltd..
The renewable energy inverter market is expected to register a CAGR of 13.9%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Renewable Energy Inverter 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 Renewable Energy Inverter Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Renewable Energy Inverter 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 Renewable Energy Inverter 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 Renewable Energy Inverter Market Size & Forecast, 2018-2028
4.5.1 Renewable Energy Inverter Market Size and Y-o-Y Growth
4.5.2 Renewable Energy Inverter Market Absolute $ Opportunity
Chapter 5 Global Renewable Energy Inverter 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 Renewable Energy Inverter Market Size Forecast by Type
5.2.1 Solar PV
5.2.2 EV
5.2.3 Wind
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Renewable Energy Inverter 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 Renewable Energy Inverter Market Size Forecast by Applications
6.2.1 Waste Management
6.2.2 Public Transit
6.2.3 Illumination
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Renewable Energy Inverter 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 Renewable Energy Inverter 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 Renewable Energy Inverter Analysis and Forecast
9.1 Introduction
9.2 North America Renewable Energy Inverter 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 Renewable Energy Inverter Market Size Forecast by Type
9.6.1 Solar PV
9.6.2 EV
9.6.3 Wind
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 Renewable Energy Inverter Market Size Forecast by Applications
9.10.1 Waste Management
9.10.2 Public Transit
9.10.3 Illumination
9.10.4 Other
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 Renewable Energy Inverter Analysis and Forecast
10.1 Introduction
10.2 Europe Renewable Energy Inverter 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 Renewable Energy Inverter Market Size Forecast by Type
10.6.1 Solar PV
10.6.2 EV
10.6.3 Wind
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 Renewable Energy Inverter Market Size Forecast by Applications
10.10.1 Waste Management
10.10.2 Public Transit
10.10.3 Illumination
10.10.4 Other
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 Renewable Energy Inverter Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Renewable Energy Inverter 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 Renewable Energy Inverter Market Size Forecast by Type
11.6.1 Solar PV
11.6.2 EV
11.6.3 Wind
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 Renewable Energy Inverter Market Size Forecast by Applications
11.10.1 Waste Management
11.10.2 Public Transit
11.10.3 Illumination
11.10.4 Other
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 Renewable Energy Inverter Analysis and Forecast
12.1 Introduction
12.2 Latin America Renewable Energy Inverter 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 Renewable Energy Inverter Market Size Forecast by Type
12.6.1 Solar PV
12.6.2 EV
12.6.3 Wind
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 Renewable Energy Inverter Market Size Forecast by Applications
12.10.1 Waste Management
12.10.2 Public Transit
12.10.3 Illumination
12.10.4 Other
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) Renewable Energy Inverter Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Renewable Energy Inverter 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) Renewable Energy Inverter Market Size Forecast by Type
13.6.1 Solar PV
13.6.2 EV
13.6.3 Wind
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) Renewable Energy Inverter Market Size Forecast by Applications
13.10.1 Waste Management
13.10.2 Public Transit
13.10.3 Illumination
13.10.4 Other
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 Renewable Energy Inverter Market: Competitive Dashboard
14.2 Global Renewable Energy Inverter Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB Ltd.
14.3.2 Huawei Investment & Holding Co. Ltd.
14.3.3 Jiangsu GoodWe Power Supply Technology Co. Ltd.
14.3.4 KACO new energy GmbH
14.3.5 Mitsubishi Electric Corp.
14.3.6 Power Electronics España SL
14.3.7 Schneider Electric SE
14.3.8 Sineng Electric Co. Ltd.
14.3.9 SMA Solar Technology AG
14.3.10 Sungrow Power Supply Co. Ltd.
14.3.11 ABB Ltd.
