Market Overview:
The global photovoltaic off-grid inverter 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 electricity due to population growth and rising income levels, coupled with the increasing focus on renewable energy sources. The global photovoltaic off-grid inverter market can be segmented by type into stand-alone inverters, grid-tie inverters, and battery backup inverters. By application, the market can be divided into urban areas and rural areas. By region, it can be classified into North America, Latin America, Europe Asia Pacific and Middle East & Africa.
Product Definition:
A photovoltaic off-grid inverter is an electronic device that converts direct current (DC) to alternating current (AC). It is used to power devices or appliances that are not connected to a utility grid. The importance of a photovoltaic off-grid inverter lies in its ability to provide a reliable and consistent source of AC power for devices or appliances that are not connected to the grid.
Stand-alone inverters:
Stand-alone inverters are used to convert the grid power to battery power. It is one of the essential components in a PV off-grid inverter system. The growing demand for renewable energy and increasing need for clean electricity has led to an increase in its installation, which is expected to drive market growth over the forecast period.
The usage of stand-alone inverters depends on various factors such as location, application type and size of solar array, load requirement etc.
Grid-tie inverters:
A grid-tie inverter is a type of off-grid solar power system that uses PV modules to generate electricity and charges the battery during peak demand. It connects into the main electric meter of the property, thereby offsetting part of its operating cost with savings on utility bills.
Application Insights:
The urban areas application segment accounted for the largest share of over 70% in 2017. The growing urban population coupled with rising demand for electricity has led to increased installations of photovoltaic systems in cities across the world. This, in turn, is expected to drive the market over the forecast period.
Rising awareness among consumers regarding clean energy and environmental protection along with government support policies are expected to propel investments by manufacturers and research institutions in R&D activities pertaining to off-grid inverters is likely to result in higher product penetration. In addition, increasing number of solar PV installations across educational institutes, hospitals and corporate offices will boost demand over the forecast period.
Regional Analysis:
The Asia Pacific region accounted for the largest market share in 2017 and is expected to continue its dominance over the forecast period. The presence of a large number of PV installations coupled with favorable government policies across key countries such as China, Japan, South Korea, Indonesia and India are some factors driving regional growth. In addition to this, increasing awareness regarding clean energy sources is anticipated to further fuel demand in the forthcoming years.
North America was estimated at USD X million in 2017 owing to high penetration rates of solar panels across U.S., Canada and Mexico that resulted into higher off-grid applications for photovoltaic inverters. Moreover, growing focus on reducing carbon footprints by using renewable energy resources is expected drive regional demand over the forecast period. Europe also contributed significantly towards industry growth due to rapid adoption of grid-tie systems across Germany and Italy that resulted into increased sales revenue generation capacity for inverters during peak hour demands i n g ree t i e s .
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 using PV systems
- Development of innovative technologies that improve the performance and efficiency of PV systems
Scope Of The Report
Report Attributes
Report Details
Report Title
Photovoltaic Off-grid Inverter Market Research Report
By Type
Stand-alone inverters, Grid-tie inverters, Battery backup inverters
By Application
Urban Area, Rural Areas
By Companies
SMA, ABB, Omron, TMEIC, Tabuchi, Advanced Energy, KACO, Schneider, Ingeteam, Fronius, Su-Kam, Agni Power & Electronics, Beta Power Controls, Amon Power Controls, AIMS Power, Airkom Electronics, Arise India
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
249
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Photovoltaic Off-grid Inverter Market Report Segments:
The global Photovoltaic Off-grid Inverter market is segmented on the basis of:
Types
Stand-alone inverters, Grid-tie inverters, Battery backup inverters
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
Urban Area, Rural Areas
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
- ABB
- Omron
- TMEIC
- Tabuchi
- Advanced Energy
- KACO
- Schneider
- Ingeteam
- Fronius
- Su-Kam
- Agni Power & Electronics
- Beta Power Controls
- Amon Power Controls
- AIMS Power
- Airkom Electronics
- Arise India
Highlights of The Photovoltaic Off-grid 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:
- Stand-alone inverters
- Grid-tie inverters
- Battery backup inverters
- By Application:
- Urban Area
- Rural Areas
- 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 Photovoltaic Off-grid 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?
A photovoltaic off-grid inverter is a device that helps to convert solar energy into usable electricity for your home or business. This type of inverter can be used to power devices like lights, fans, and TVs when there is no access to an electrical grid.
Some of the major players in the photovoltaic off-grid inverter market are SMA, ABB, Omron, TMEIC, Tabuchi, Advanced Energy, KACO, Schneider, Ingeteam, Fronius, Su-Kam, Agni Power & Electronics, Beta Power Controls, Amon Power Controls, AIMS Power, Airkom Electronics, Arise India.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Photovoltaic Off-grid Inverter 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 Off-grid Inverter Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Photovoltaic Off-grid Inverter Market - Supply Chain
4.5. Global Photovoltaic Off-grid Inverter Market Forecast
4.5.1. Photovoltaic Off-grid Inverter Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Photovoltaic Off-grid Inverter Market Size (000 Units) and Y-o-Y Growth
4.5.3. Photovoltaic Off-grid Inverter Market Absolute $ Opportunity
5. Global Photovoltaic Off-grid Inverter 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 Off-grid Inverter Market Size and Volume Forecast by Type
5.3.1. Stand-alone inverters
5.3.2. Grid-tie inverters
5.3.3. Battery backup inverters
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Photovoltaic Off-grid Inverter 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 Off-grid Inverter Market Size and Volume Forecast by Application
6.3.1. Urban Area
6.3.2. Rural Areas
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Photovoltaic Off-grid Inverter 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 Off-grid Inverter 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 Off-grid Inverter 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 Off-grid Inverter 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 Off-grid Inverter Demand Share Forecast, 2019-2026
9. North America Photovoltaic Off-grid Inverter 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 Off-grid Inverter 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 Off-grid Inverter Market Size and Volume Forecast by Application
9.4.1. Urban Area
9.4.2. Rural Areas
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Photovoltaic Off-grid Inverter Market Size and Volume Forecast by Type
9.7.1. Stand-alone inverters
9.7.2. Grid-tie inverters
9.7.3. Battery backup inverters
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 Off-grid Inverter Demand Share Forecast, 2019-2026
10. Latin America Photovoltaic Off-grid Inverter 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 Off-grid Inverter 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 Off-grid Inverter Market Size and Volume Forecast by Application
10.4.1. Urban Area
10.4.2. Rural Areas
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Photovoltaic Off-grid Inverter Market Size and Volume Forecast by Type
10.7.1. Stand-alone inverters
10.7.2. Grid-tie inverters
10.7.3. Battery backup inverters
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 Off-grid Inverter Demand Share Forecast, 2019-2026
11. Europe Photovoltaic Off-grid Inverter 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 Off-grid Inverter 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 Off-grid Inverter Market Size and Volume Forecast by Application
11.4.1. Urban Area
11.4.2. Rural Areas
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Photovoltaic Off-grid Inverter Market Size and Volume Forecast by Type
11.7.1. Stand-alone inverters
11.7.2. Grid-tie inverters
11.7.3. Battery backup invrters
11.8. Basis Point Share (BPS) Analysis by Type
11.9. 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 Off-grid Inverter Demand Share, 2019-2026
12. Asia Pacific Photovoltaic Off-grid Inverter 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 Off-grid Inverter 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 Off-grid Inverter Market Size and Volume Forecast by Application
12.4.1. Urban Area
12.4.2. Rural Areas
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Photovoltaic Off-grid Inverter Market Size and Volume Forecast by Type
12.7.1. Stand-alone inverters
12.7.2. Grid-tie inverters
12.7.3. Battery backup inverters
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 Off-grid Inverter Demand Share, 2019-2026
13. Middle East & Africa Photovoltaic Off-grid Inverter 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 Off-grid Inverter 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 Off-grid Inverter Market Size and Volume Forecast by Application
13.4.1. Urban Area
13.4.2. Rural Areas
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Photovoltaic Off-grid Inverter Market Size and Volume Forecast by Type
13.7.1. Stand-alone inverters
13.7.2. Grid-tie inverters
13.7.3. Battery backup inverters
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 Off-grid Inverter Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Photovoltaic Off-grid Inverter Market: Market Share Analysis
14.2. Photovoltaic Off-grid Inverter Distributors and Customers
14.3. Photovoltaic Off-grid Inverter Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. SMA
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. ABB
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Omron
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. TMEIC
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Tabuchi
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Advanced 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. KACO
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Schneider
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Ingeteam
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Fronius
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Su-Kam
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Agni Power & Electronics
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Beta Power Controls
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Amon Power Controls
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. AIMS Power
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Airkom Electronics
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Arise India
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