Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Photovoltaic (PV) Inverters Market by Type (Micro, String, Central), By Application (Residential, Commercial, Industrial) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Photovoltaic (PV) Inverters Market by Type (Micro, String, Central), By Application (Residential, Commercial, Industrial) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 206397 3300 Electronics & Semiconductor 377 244 Pages 5 (37)
                                          

Market Overview:


The global photovoltaic (PV) inverters market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for renewable energy sources and government initiatives and subsidies for promoting solar energy. In addition, technological advancements in PV inverters are also contributing to the growth of this market. Based on type, micro-inverters accounted for a major share of the global PV inverters market in 2017. This can be attributed to their high efficiency and low cost as compared to central or string inverters.


Global Photovoltaic (PV) Inverters Industry Outlook


Product Definition:


A photovoltaic (PV) inverter converts direct current (DC) to alternating current (AC). PV inverters are important components of a photovoltaic system, enabling the conversion of solar energy into electrical power that can be used in homes and businesses.


Micro:


Micro-inverters are small electrical equipment that is used in the PV inverters. They are mainly used to increase the power output of a solar panel by splitting its output into multiple outputs with different voltages and currents. Micro-inverter reduces the size, cost and weight of a solar array which makes it more competitive against conventional systems installed on grid connected or off grid connected power supply.


String:


String is a generic term used in the photovoltaic (PV) inverters industry for indicating any type of cable or cord that carries electricity from one point to another. Inverter manufacturers use string to indicate cables and cords that are used in PV inverters. The most common types of string used in PV inverters include polycrystalline, monocrystalline, and crystalline strings.


Application Insights:


The market is segmented based on application into residential, commercial and industrial. The residential sector dominated the global PV inverters market in 2017, accounting for over 50% of the overall revenue share. Increasing government support for solar energy installation as an alternative source of power has led to a surge in demand for roof-top panels across households globally. This trend is expected to continue over the forecast period, driving growth of this application segment during the next eight years.


The commercial sector accounted for another 25% of total industry revenue in 2017 and is anticipated to grow at a significant rate during next eight years owing to increasing number of installations by corporate offices, hotels and other large buildings across regions including North America and Europe Pacific.


Regional Analysis:


Europe accounted for the largest market share of over 35% in 2017. The region is expected to dominate the industry over the forecast period owing to increasing investments and favorable government policies. Germany, Italy, France, and Spain are some of the major countries investing in solar energy projects which will increase market growth. In addition, growing awareness regarding renewable energy sources is anticipated to drive demand for PV inverters across Europe during the forecast period.


The Asia Pacific regional market captured a revenue share of nearly 20% in 2017 on account of large-scale adoption across Japan and China wherein both countries have set ambitious targets for installation rates of photovoltaic systems by 2020 Olympics respectively.


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 such as solar power
  • Reduction in the cost of PV systems, making them more affordable for consumers
  • Growing awareness about the benefits of solar energy among consumers and businesses
  • Advances in technology that make PV inverters more efficient and reliable

Scope Of The Report

Report Attributes

Report Details

Report Title

Photovoltaic (PV) Inverters Market Research Report

By Type

Micro, String, Central

By Application

Residential, Commercial, Industrial

By Companies

SMA Solar Technology, Siemens, ABB, KACO New Energy, Power-One, Tigo Energy, Enphase Energy, Sungrow Power Supply, Schneider Electric, Tabuchi Electric, Elettronica Santerno, TMEIC, Panasonic

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

244

Number of Tables & Figures

171

Customization Available

Yes, the report can be customized as per your need.


Global Photovoltaic (PV) Inverters Market Report Segments:

The global Photovoltaic (PV) Inverters market is segmented on the basis of:

Types

Micro, String, Central

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

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:

  1. SMA Solar Technology
  2. Siemens
  3. ABB
  4. KACO New Energy
  5. Power-One
  6. Tigo Energy
  7. Enphase Energy
  8. Sungrow Power Supply
  9. Schneider Electric
  10. Tabuchi Electric
  11. Elettronica Santerno
  12. TMEIC
  13. Panasonic

Global Photovoltaic (PV) Inverters Market Overview


Highlights of The Photovoltaic (PV) Inverters Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Micro
    2. String
    3. Central
  1. By Application:

    1. Residential
    2. Commercial
    3. Industrial
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Photovoltaic (PV) 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

Global Photovoltaic (PV) Inverters Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?


A photovoltaic inverter is a device that helps convert sunlight into electricity. PV inverters are used to power things like lights, fans, and appliances in homes or businesses.

Some of the key players operating in the photovoltaic (pv) inverters market are SMA Solar Technology, Siemens, ABB, KACO New Energy, Power-One, Tigo Energy, Enphase Energy, Sungrow Power Supply, Schneider Electric, Tabuchi Electric, Elettronica Santerno, TMEIC, Panasonic.

The photovoltaic (pv) inverters market is expected to register a CAGR of 10.5%.

                                            
1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. Photovoltaic (PV) Inverters Market Overview
   4.1. Introduction
      4.1.1. Market Taxonomy
      4.1.2. Market Definition
   4.2. Macro-Economic Factors
      4.2.1. Industry Outlook
   4.3. Photovoltaic (PV) Inverters Market Dynamics
      4.3.1. Market Drivers
      4.3.2. Market Restraints
      4.3.3. Opportunity
      4.3.4. Market Trends
   4.4. Photovoltaic (PV) Inverters Market - Supply Chain
   4.5. Global Photovoltaic (PV) Inverters Market Forecast
      4.5.1. Photovoltaic (PV) Inverters Market Size (US$ Mn) and Y-o-Y Growth
      4.5.2. Photovoltaic (PV) Inverters Market Size (000’ Units) and Y-o-Y Growth
      4.5.3. Photovoltaic (PV) Inverters Market Absolute $ Opportunity

5. Global Photovoltaic (PV) Inverters Market Analysis and Forecast by Type
   5.1. Market Trends
   5.2. Introduction
      5.2.1. Basis Point Share (BPS) Analysis by Type
      5.2.2. Y-o-Y Growth Projections by Type
   5.3. Photovoltaic (PV) Inverters Market Size and Volume Forecast by Type
      5.3.1. Micro
      5.3.2. String
      5.3.3. Central
   5.4. Absolute $ Opportunity Assessment by Type
   5.5. Market Attractiveness/Growth Potential Analysis by Type

6. Global Photovoltaic (PV) Inverters Market Analysis and Forecast by Application
   6.1. Market Trends
   6.2. Introduction
      6.2.1. Basis Point Share (BPS) Analysis by Application
      6.2.2. Y-o-Y Growth Projections by Application
   6.3. Photovoltaic (PV) Inverters Market Size and Volume Forecast by Application
      6.3.1. Residential
      6.3.2. Commercial
      6.3.3. Industrial
   6.4. Absolute $ Opportunity Assessment by Application
   6.5. Market Attractiveness/Growth Potential Analysis by Application

7. Global Photovoltaic (PV) Inverters Market Analysis and Forecast by Sales Channel
   7.1. Market Trends
   7.2. Introduction
      7.2.1. Basis Point Share (BPS) Analysis by Sales Channel 
      7.2.2. Y-o-Y Growth Projections by Sales Channel
   7.3. Photovoltaic (PV) Inverters Market Size and Volume Forecast by Sales Channel 
      7.3.1. Manufacturer/Distributor/Service Provider
      7.3.2. Aftermarket
   7.4. Absolute $ Opportunity Assessment by Sales Channel
   7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel

8. Global Photovoltaic (PV) Inverters Market Analysis and Forecast by Region
   8.1. Market Trends
   8.2. Introduction
      8.2.1. Basis Point Share (BPS) Analysis by Region
      8.2.2. Y-o-Y Growth Projections by Region
   8.3. Photovoltaic (PV) Inverters Market Size and Volume Forecast by Region
      8.3.1. North America
      8.3.2. Latin America
      8.3.3. Europe
      8.3.4. Asia Pacific
      8.3.5. Middle East and Africa (MEA)
   8.4. Absolute $ Opportunity Assessment by Region
   8.5. Market Attractiveness/Growth Potential Analysis by Region
   8.6. Global Photovoltaic (PV) Inverters Demand Share Forecast, 2019-2026

9. North America Photovoltaic (PV) Inverters Market Analysis and Forecast
   9.1. Introduction
      9.1.1. Basis Point Share (BPS) Analysis by Country
      9.1.2. Y-o-Y Growth Projections by Country
   9.2. North America Photovoltaic (PV) Inverters Market Size and Volume Forecast by Country
      9.2.1. U.S.
      9.2.2. Canada
   9.3. Absolute $ Opportunity Assessment by Country
   9.4. North America Photovoltaic (PV) Inverters Market Size and Volume Forecast by Application
      9.4.1. Residential
      9.4.2. Commercial
      9.4.3. Industrial
   9.5. Basis Point Share (BPS) Analysis by Application
   9.6. Y-o-Y Growth Projections by Application
   9.7. North America Photovoltaic (PV) Inverters Market Size and Volume Forecast by Type
      9.7.1. Micro
      9.7.2. String
      9.7.3. Central
   9.8. Basis Point Share (BPS) Analysis by Type
   9.9. Y-o-Y Growth Projections by Type
   9.10. Market Attractiveness/Growth Potential Analysis
      9.10.1. By Country
      9.10.2. By Product Type
      9.10.3. By Application
      9.10.4. By Sales Channel
   9.11. North America Photovoltaic (PV) Inverters Demand Share Forecast, 2019-2026

10. Latin America Photovoltaic (PV) Inverters Market Analysis and Forecast
   10.1. Introduction
      10.1.1. Basis Point Share (BPS) Analysis by Country
      10.1.2. Y-o-Y Growth Projections by Country
      10.1.3. Latin America Average Pricing Analysis
   10.2. Latin America Photovoltaic (PV) Inverters Market Size and Volume Forecast by Country
      10.2.1. Brazil
      10.2.2. Mexico
      10.2.3. Rest of Latin America
   10.3. Absolute $ Opportunity Assessment by Country
   10.4. Latin America Photovoltaic (PV) Inverters Market Size and Volume Forecast by Application
      10.4.1. Residential
      10.4.2. Commercial
      10.4.3. Industrial
   10.5. Basis Point Share (BPS) Analysis by Application
   10.6. Y-o-Y Growth Projections by Application
   10.7. Latin America Photovoltaic (PV) Inverters Market Size and Volume Forecast by Type
      10.7.1. Micro
      10.7.2. String
      10.7.3. Central
   10.8. Basis Point Share (BPS) Analysis by Type
   10.9. Y-o-Y Growth Projections by Type
   10.10. Market Attractiveness/Growth Potential Analysis
      10.10.1. By Country
      10.10.2. By Product Type
      10.10.3. By Application
      10.10.4. By Sales Channel
   10.11. Latin America Photovoltaic (PV) Inverters Demand Share Forecast, 2019-2026

11. Europe Photovoltaic (PV) Inverters Market Analysis and Forecast
   11.1. Introduction
      11.1.1. Basis Point Share (BPS) Analysis by Country
      11.1.2. Y-o-Y Growth Projections by Country
      11.1.3. Europe Average Pricing Analysis
   11.2. Europe Photovoltaic (PV) Inverters Market Size and Volume Forecast by Country
      11.2.1. Germany
      11.2.2. France
      11.2.3. Italy
      11.2.4. U.K.
      11.2.5. Spain
      11.2.6. Russia
      11.2.7. Rest of Europe
   11.3. Absolute $ Opportunity Assessment by Country
   11.4. Europe Photovoltaic (PV) Inverters Market Size and Volume Forecast by Application
      11.4.1. Residential
      11.4.2. Commercial
      11.4.3. Industrial
   11.5. Basis Point Share (BPS) Analysis by Application
   11.6. Y-o-Y Growth Projections by Application
   11.7. Europe Photovoltaic (PV) Inverters Market Size and Volume Forecast by Type
      11.7.1. Micro
      11.7.2. String
      11.7.3. Central
   11.8. Basis Point Share (BPS) Analysis by Type
   119. Y-o-Y Growth Projections by Type
   11.10. Market Attractiveness/Growth Potential Analysis
      11.10.1. By Country
      11.10.2. By Product Type
      11.10.3. By Application
      11.10.4. By Sales Channel
   11.11. Europe Photovoltaic (PV) Inverters Demand Share, 2019-2026

12. Asia Pacific Photovoltaic (PV) Inverters Market Analysis and Forecast
   12.1. Introduction
      12.1.1. Basis Point Share (BPS) Analysis by Country
      12.1.2. Y-o-Y Growth Projections by Country
      12.1.3. Asia Pacific Average Pricing Analysis
   12.2. Asia Pacific Photovoltaic (PV) Inverters Market Size and Volume Forecast by Country
      12.2.1. China
      12.2.2. Japan
      12.2.3. South Korea
      12.2.4. India
      12.2.5. Australia
      12.2.6. Rest of Asia Pacific (APAC)
   12.3. Absolute $ Opportunity Assessment by Country
   12.4. Asia Pacific Photovoltaic (PV) Inverters Market Size and Volume Forecast by Application
      12.4.1. Residential
      12.4.2. Commercial
      12.4.3. Industrial
   12.5. Basis Point Share (BPS) Analysis by Application
   12.6. Y-o-Y Growth Projections by Application
   12.7. Asia Pacific Photovoltaic (PV) Inverters Market Size and Volume Forecast by Type
      12.7.1. Micro
      12.7.2. String
      12.7.3. Central
   12.8. Basis Point Share (BPS) Analysis by Type
   12.9. Y-o-Y Growth Projections by Type
   12.10. Market Attractiveness/Growth Potential Analysis
      12.10.1. By Country
      12.10.2. By Product Type
      12.10.3. By Application
      12.10.4. By Sales Channel
   12.11. Asia Pacific Photovoltaic (PV) Inverters Demand Share, 2019-2026

13. Middle East & Africa Photovoltaic (PV) Inverters Market Analysis and Forecast
   13.1. Introduction
      13.1.1. Basis Point Share (BPS) Analysis by Country
      13.1.2. Y-o-Y Growth Projections by Country
      13.1.3. Asia Pacific Average Pricing Analysis
   13.2. Middle East & Africa Photovoltaic (PV) Inverters Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
   13.4. Middle East & Africa Photovoltaic (PV) Inverters Market Size and Volume Forecast by Application
      13.4.1. Residential
      13.4.2. Commercial
      13.4.3. Industrial
   13.5. Basis Point Share (BPS) Analysis by Application
   13.6. Y-o-Y Growth Projections by Application
   13.7. Middle East & Africa Photovoltaic (PV) Inverters Market Size and Volume Forecast by Type
      13.7.1. Micro
      13.7.2. String
      13.7.3. Central
   13.8. Basis Point Share (BPS) Analysis by Type
   13.9. Y-o-Y Growth Projections by Type
   13.10. Market Attractiveness/Growth Potential Analysis
      13.10.1. By Country
      13.10.2. By Product Type
      13.10.3. By Application
      13.10.4. By Sales Channel
   13.11. Middle East & Africa Photovoltaic (PV) Inverters Demand Share, 2019-2026

14. Competition Landscape
   14.1. Global Photovoltaic (PV) Inverters Market: Market Share Analysis
   14.2. Photovoltaic (PV) Inverters Distributors and Customers
   14.3. Photovoltaic (PV) Inverters Market: Competitive Dashboard
   14.4. Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.4.1. SMA Solar Technology
         14.4.1.1. Overview
         14.4.1.2. Financials
         14.4.1.3. Developments
         14.4.1.4. Strategic Outlook
      14.4.2. Siemens
         14.4.2.1. Overview
         14.4.2.2. Financials
         14.4.2.3. Developments
         14.4.2.4. Strategic Outlook
      14.4.3. ABB
         14.4.3.1. Overview
         14.4.3.2. Financials
         14.4.3.3. Developments
         14.4.3.4. Strategic Outlook
      14.4.4. KACO New Energy
         14.4.4.1. Overview
         14.4.4.2. Financials
         14.4.4.3. Developments
         14.4.4.4. Strategic Outlook
      14.4.5. Power-One
         14.4.5.1. Overview
         14.4.5.2. Financials
         14.4.5.3. Developments
         14.4.5.4. Strategic Outlook
      14.4.6. Tigo Energy
         14.4.6.1. Overview
         14.4.6.2. Financials
         14.4.6.3. Developments
         14.4.6.4. Strategic Outlook
      14.4.7. Enphase Energy
         14.4.7.1. Overview
         14.4.7.2. Financials
         14.4.7.3. Developments
         14.4.7.4. Strategic Outlook
      14.4.8. Sungrow Power Supply
         14.4.8.1. Overview
         14.4.8.2. Financials
         14.4.8.3. Developments
         14.4.8.4. Strategic Outlook
      14.4.9. Schneider Electric
         14.4.9.1. Overview
         14.4.9.2. Financials
         14.4.9.3. Developments
         14.4.9.4. Strategic Outlook
      14.4.10. Tabuchi Electric
         14.4.10.1. Overview
         14.4.10.2. Financials
         14.4.10.3. Developments
         14.4.10.4. Strategic Outlook
      14.4.11. Elettronica Santerno
         14.4.11.1. Overview
         14.4.11.2. Financials
         14.4.11.3. Developments
         14.4.11.4. Strategic Outlook
      14.4.12. TMEIC
         14.4.12.1. Overview
         14.4.12.2. Financials
         14.4.12.3. Developments
         14.4.12.4. Strategic Outlook
      14.4.13. Panasonic
         14.4.13.1. Overview
         14.4.13.2. Financials
         14.4.13.3. Developments
         14.4.13.4. Strategic Outlook
      14.4.14. COMPANY 14
         14.4.14.1. Overview
         14.4.14.2. Financials
         14.4.14.3. Developments
         14.4.14.4. Strategic Outlook
      14.4.15. COMPANY 15
         14.4.15.1. Overview
         14.4.15.2. Financials
         14.4.15.3. Developments
         14.4.15.4. Strategic Outlook
      14.4.16. COMPANY 16
         14.4.16.1. Overview
         14.4.16.2. Financials
         14.4.16.3. Developments
         14.4.16.4. Strategic Outlook
      14.4.17. COMPANY 17
         14.4.17.1. Overview
         14.4.17.2. Financials
         14.4.17.3. Developments
         14.4.17.4. Strategic Outlook
      14.4.18. COMPANY 18
         14.4.18.1. Overview
         14.4.18.2. Financials
         14.4.18.3. Developments
         14.4.18.4. Strategic Outlook
      14.4.19. COMPANY 19
         14.4.19.1. Overview
         14.4.19.2. Financials
         14.4.19.3. Developments
         14.4.19.4. Strategic Outlook
      14.4.20. COMPANY 20
         14.4.20.1. Overview
         14.4.20.2. Financials
         14.4.20.3. Developments
         14.4.20.4. Strategic Outlook

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