What is Solar Central Inverters Market?
An inverter is a power electronic converter, which converts DC power to AC power. A Solar Central Inverter is connected to a series of solar panels in the solar grid. DC power from each solar panel series is given to a combiner box which is further connected to a single central inverter. Power is then converted from DC to ready-to-use AC. These are large-capacity inverters used for installations from 100 kW upwards and, in most cases, are designed for outdoor installation. The population boom is significantly increasing the demand for new energy sources. The non-renewable sources will soon perish and renewable energy sources will serve as an alternative source providing energy. Because of their reliability and easy access to the energy source, photovoltaic systems have attracted much more attention than other technologies that use renewable energy sources. Some of these advantages are long life, low maintenance needs, ease of installation, and no need for fuel. All these factors are contributing to the increased adoption of solar grids which will have a positive impact on the market for solar inverters.
Highlights from Solar Central Inverters Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | ABB (Switzerland), Delta Electronics (Taiwan), Schneider Electric (France), Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC) (Japan), General Electric (United States), SMA Solar Technology AG (Germany), Hitachi (Japan), Ingeteam Inc. (United States), Fronius International GmbH (Austria) and Sineng Electric (China) |
Research Analyst at AMA predicts that Chinese Players will contribute to the maximum growth of Global Solar Central Inverters market throughout the forecasted period.
ABB (Switzerland), Delta Electronics (Taiwan), Schneider Electric (France), Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC) (Japan), General Electric (United States), SMA Solar Technology AG (Germany), Hitachi (Japan), Ingeteam Inc. (United States), Fronius International GmbH (Austria) and Sineng Electric (China) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are TBEA (China) and Sungrow Power Supply Co., Ltd (China). Solar Central Inverters Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Industrial Facilities, Large Buildings and Solar Farms |
Type | Standalone, Grid-Tie and Hybrid |
Phase Variations | Single Phase,Three Phase |
On the basis of geography, the market of Solar Central Inverters has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
1,000 VDC System Design Is Adopted At A Higher Rate Since Is Reduces Cost and Maximizes Efficiency
Market Growth Drivers:
Increasing Solar Farms to Meet Electricity Demands Worldwide, High Energy Demands from Large-Scale Manufacturing Units Is the Major Driver and High Reliability Even In Harsh Climatic Conditions Is Further Fueling Demand
Challenges:
High Initial Cost and Lengthy Payback Periods
Restraints:
Failure of the Inverter Causes Failure of the Entire Solar Grid and Lower Flexibility Since It Offers Fewer System Expansions
Opportunities:
Increasing Adoption of Renewable Energy Sources to Replace Perishable Fossil Fuels
Key Target Audience
Solar Central Inverters Manufacturer, Solar Central Inverters Traders/Distributors/Suppliers, Solar Central Inverters Raw Material Supplier, Solar Central Inverters End-User, Solar Central Inverters Potential Technology Investors, Solar Central Inverters Third-Party Players and Others
Market Leaders & Development Strategies
In July 2018, Sungrow, a leading inverter manufacturer opened a new manufacturing facility in India. The 3GW plant will produce both central and string inverters for customers in India and beyond. In response to the growing market demands, Sungrow established the factory in India, which will greatly improve the company's global delivery capacity and better serve customers.
In August 2018, Chinese PV inverter supplier Sineng Electric inaugurated a 3GW solar inverter factory in India. The Indian Factory will not only supply the local market but also the UAE and other South Asian countries. It will eventually become the main production base for the company’s overseas export business although it certainly reflects growing demand from within India.