About Solar Inverter
The solar inverter is a crucial device in any solar power system. The basic function of the inverter is to change the variable direct current output of the solar panels into alternating current. The several electronic and electrical components connected in the circuit help in the conversion. The converted alternating current power is used for running the various appliances like the TV, refrigerator, and microwave, among others. Moreover, for some particular applications, a user can directly use the direct current power output from the solar panels such as LED night-lights and cell phone charger. Usually, the power of a home solar power system is used for power AC loads.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Analyst at AMA Research estimates that Chinese, German, and Indian Manufacturers will contribute the maximum growth to Global Solar Inverter market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ABB (Switzerland), Chint Power Systems America (United States), Darfon Electronics (Taiwan), Delta Energy Systems (Germany), Eaton Corporation (Ireland), Elettronica Santerno (Italy), SMA Solar Technology AG (Germany), LEONICS CO., LTD. (Thailand), Fronius International GmbH (Austria), SolarEdge (Israel) and Sungrow (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Delta (India), GoodWe (Australia), Toshiba Mitsubishi-Electric Industrial Systems (Japan), Fronius International GmbH (Austria), Huawei (China), Luminous (India), Su-Kam (India), Microtek (India) and Tata Power Solar (India).
Segmentation Overview
AMA Research has segmented the market of Global Solar Inverter market by Type (String Solar Inverters, Hybrid Inverters, Off-grid Inverters and Micro Inverters), Application (Residential, Commercial, Industrial and Public Utilities) and Region.
On the basis of geography, the market of Solar Inverter 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). If we see Market by Power , the sub-segment i.e. <50 kW will boost the Solar Inverter market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Solar Panel will boost the Solar Inverter market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Multifunction Solar Inverters Are Gaining Popularity and String Inverters Keep Scaling Up
Market Growth Drivers:
Rising Concerns of Greenhouse Effect and Global Warming, Increasing the Prices of Electricity Coupled with Fossil Fuels and Favourable Government Guidelines towards the Use of Renewable Energy Resources
Challenges:
Fierce Competition and Increasing Price Pressure
Restraints:
A High Initial Investment Cost
Opportunities:
The Growing Infrastructure Coupled with Industrialization among the Developing Countries and Hybrid inverters May Open Lucrative Opportunities for the Market
On 9 July 2019, ABB, a major player in the global solar inverter market, is paying USD 470 million to unload the business to Italian company Fimer — an acknowledgement of ongoing challenges in a market-driven by fierce competition and increasing price pressure.
Key Target Audience
Solar Invertors Manufacturers, Solar Invertors Sub Component Manufacturers, Solar Invertors Trader/Distributors, Solar Invertors Importer/Exporter, Regulatory & Government Bodies, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.