Market Overview:
The global solar PV inverter 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 solar energy across the globe and technological advancements in solar PV inverters. Based on type, the global solar PV inverter market is segmented into single-phase, three-phase, and other types. The single-phase segment is expected to hold a major share of the market during the forecast period owing to its low cost and easy installation. Based on application, the global solar PV inverter market is segmented into residential, commercial, and other applications.
Product Definition:
A Solar PV Inverter is a device that converts the direct current (DC) output of a photovoltaic (PV) module into alternating current (AC). The AC can be used to power devices or sent back to the grid.
Single-phase:
Single-phase is the simplest form of PV inverter. It has one working phase and can be used in any application where there is sufficient light. The single-phase PV inverter market size was valued at USD 4,700 million in 2015 and it is expected to grow at a CAGR of XX% over the forecast period.
Three-phase:
The three-phase is a method of generating electricity, which involves the use of three electrical conductors to generate an electric current. The most commonly used methods are poly phase and single-phase. Inverter uses this technology to convert the DC power from the battery into different AC power levels required by appliances.
Application Insights:
The commercial segment dominated the global solar PV inverter market in 2017, accounting for over 60.0% share of the total revenue. The growing number of government and non-government initiatives to promote investments in green energy is expected to drive demand over the forecast period. For instance, Saudi Arabia Vision 2030 program includes a target of having 10% of the country's electricity generation coming from renewable sources by 2030. Such initiatives are expected to boost product demand across all sectors including residential and commercial buildings by increasing investments in clean energy projects globally.
The residential segment is projected to witness significant growth over the forecast period owing to rising awareness about reducing carbon footprint among consumers globally as well as locally with emphasis on policies introduced by local governments worldwide that encourage residents & homeowners without subsidies or tax credits for installing solar panels on roofs or windowsills (solar glass).
Regional Analysis:
Asia Pacific regional solar PV inverter market is anticipated to witness the highest CAGR of XX% from 2018 to 2030. The region has a large number of PV installations and hence, requires less maintenance. Moreover, countries such as Japan and China are actively promoting renewable energy in order to reduce fossil fuel imports and achieve sustainable development.
North America was the second-largest regional market for global solar PV inverters owing to growing awareness regarding clean energy generation sources among consumers as well as policy support from governments across U.S., Canada, Mexico for reducing carbon footprint associated with electricity generation methods used in conventional power plants that emit greenhouse gases (GHG).
Growth Factors:
- Increasing demand for solar PV inverters from the residential and commercial sectors due to growing awareness about the benefits of solar energy
- Favorable government policies and regulations supporting the adoption of solar energy systems, which is expected to spur market growth over the forecast period
- Rising demand for smart grid-enabled inverters that can provide two-way communication with grid operators, helping to improve power quality and reliability
- Growing investments in renewable energy projects, especially in developing countries, as governments seek to reduce dependence on traditional sources of energy
- Proliferation of microgrid installations across various end-use applications
Scope Of The Report
Report Attributes
Report Details
Report Title
Solar PV Inverter Market Research Report
By Type
Single-phase, Three-phase, Other
By Application
Residential, Commercial, Other
By Companies
SMA, ABB, Omron, TMEIC, Tabuchi, Advanced Energy, KACO, Schneider, Ingeteam, Fronius, Siemens, Satcon, Enphase, AROS Solar, Kostal, STECA, Green Power, Solar Edge, Power Electronics, Danfoss, Sungrow Power, TBEA, HuaWei, KEHUA Group, EAST, SSE, Samil Power, Chint, JFY Tech, SAJ
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
231
Number of Tables & Figures
162
Customization Available
Yes, the report can be customized as per your need.
Global Solar PV Inverter Market Report Segments:
The global Solar PV Inverter market is segmented on the basis of:
Types
Single-phase, Three-phase, Other
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, 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:
- SMA
- ABB
- Omron
- TMEIC
- Tabuchi
- Advanced Energy
- KACO
- Schneider
- Ingeteam
- Fronius
- Siemens
- Satcon
- Enphase
- AROS Solar
- Kostal
- STECA
- Green Power
- Solar Edge
- Power Electronics
- Danfoss
- Sungrow Power
- TBEA
- HuaWei
- KEHUA Group
- EAST
- SSE
- Samil Power
- Chint
- JFY Tech
- SAJ
Highlights of The Solar PV 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:
- Single-phase
- Three-phase
- Other
- By Application:
- Residential
- Commercial
- 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 Solar PV 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 solar PV inverter is a device that helps convert the direct current (DC) output from a solar panel into alternating current (AC) needed by an electrical appliance or system.
Some of the major companies in the solar pv inverter market are SMA, ABB, Omron, TMEIC, Tabuchi, Advanced Energy, KACO, Schneider, Ingeteam, Fronius, Siemens, Satcon, Enphase, AROS Solar, Kostal, STECA, Green Power, Solar Edge, Power Electronics, Danfoss, Sungrow Power, TBEA, HuaWei, KEHUA Group, EAST, SSE, Samil Power, Chint, JFY Tech, SAJ.
The solar pv inverter market is expected to register a CAGR of 10.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Solar PV 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. Solar PV Inverter Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Solar PV Inverter Market - Supply Chain
4.5. Global Solar PV Inverter Market Forecast
4.5.1. Solar PV Inverter Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Solar PV Inverter Market Size (000 Units) and Y-o-Y Growth
4.5.3. Solar PV Inverter Market Absolute $ Opportunity
5. Global Solar PV 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. Solar PV Inverter Market Size and Volume Forecast by Type
5.3.1. Single-phase
5.3.2. Three-phase
5.3.3. Other
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Solar PV 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. Solar PV Inverter Market Size and Volume Forecast by Application
6.3.1. Residential
6.3.2. Commercial
6.3.3. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Solar PV 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. Solar PV 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 Solar PV 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. Solar PV 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 Solar PV Inverter Demand Share Forecast, 2019-2026
9. North America Solar PV 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 Solar PV 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 Solar PV Inverter Market Size and Volume Forecast by Application
9.4.1. Residential
9.4.2. Commercial
9.4.3. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Solar PV Inverter Market Size and Volume Forecast by Type
9.7.1. Single-phase
9.7.2. Three-phase
9.7.3. Other
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 Solar PV Inverter Demand Share Forecast, 2019-2026
10. Latin America Solar PV 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 Solar PV 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 Solar PV Inverter Market Size and Volume Forecast by Application
10.4.1. Residential
10.4.2. Commercial
10.4.3. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Solar PV Inverter Market Size and Volume Forecast by Type
10.7.1. Single-phase
10.7.2. Three-phase
10.7.3. Other
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 Solar PV Inverter Demand Share Forecast, 2019-2026
11. Europe Solar PV 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 Solar PV 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 Solar PV Inverter Market Size and Volume Forecast by Application
11.4.1. Residential
11.4.2. Commercial
11.4.3. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Solar PV Inverter Market Size and Volume Forecast by Type
11.7.1. Single-phase
11.7.2. Three-phase
11.7.3. Other
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 Solar PV Inverter Demand Share, 2019-2026
12. Asia Pacific Solar PV 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 Solar PV 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 Solar PV Inverter Market Size and Volume Forecast by Application
12.4.1. Residential
12.4.2. Commercial
12.4.3. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Solar PV Inverter Market Size and Volume Forecast by Type
12.7.1. Single-phase
12.7.2. Three-phase
12.7.3. Other
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 Solar PV Inverter Demand Share, 2019-2026
13. Middle East & Africa Solar PV 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 Solar PV 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 Solar PV Inverter Market Size and Volume Forecast by Application
13.4.1. Residential
13.4.2. Commercial
13.4.3. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Solar PV Inverter Market Size and Volume Forecast by Type
13.7.1. Single-phase
13.7.2. Three-phase
13.7.3. Other
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 Solar PV Inverter Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Solar PV Inverter Market: Market Share Analysis
14.2. Solar PV Inverter Distributors and Customers
14.3. Solar PV 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. Siemens
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Satcon
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Enphase
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. AROS Solar
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Kostal
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. STECA
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Green Power
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Solar Edge
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Power Electronics
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. Danfoss
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
