About Solar Hybrid Inverter
Solar Hybrid Inverter is a combination of inverter and solar charge regulator. These inverters are able to control the solar panel arrays for storing batteries and power grids, simultaneously. The major purpose of using solar hybrid inverter converts DC power generated from the array into usable AC power. These inverters are used as backup solar storage and are easy to install. Government regulations promoting the use of energy management systems (EMS) will support market growth. For instance, the South African cabinet has approved a goal to reduce greenhouse gas emissions to net-zero by 2050. The rising investments in solar power systems are expected to boost the market size in the forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 9.01% |
The manufacturers in the global solar hybrid inverter market continue to focus on innovation and technological advancements in the product. Such developments coupled with competitive pricing are likely to assist in increasing market share over the forecast period. The key players are investing heavily in research & development to enhance the product quality and to overcome problems faced while manufacturing solar hybrid inverter products. 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.
Flin Energy (India), Havells (India), Schneider Electric (France), Microtek Inverters (India), Luminous (India), EAST Group (China), KACO new energy (Germany), Tabuchi Electric (United States), SolarEdge Technologies (Israel), Voltronic Power Technology (Taiwan), SolaX Power (China), Delta Energy Systems (Germany), Pure Volt (India), Su-Kam power systems (India) and Redback Technologies (Australia) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Solar Hybrid Inverter market by Type (Single-Phase and Three-Phase), Application (Commercial and Residential) and Region.
On the basis of geography, the market of Solar Hybrid 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 Sales Channel, the sub-segment i.e. Online will boost the Solar Hybrid Inverter market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Grid Type, the sub-segment i.e. On Grid will boost the Solar Hybrid Inverter market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Demand For Polycrystalline Solar Panels
Market Growth Drivers:
Increasing Expenditure In Solar Power Systems and Government Promote The Use Of Energy Management Systems (EMS)
Challenges:
High Operating And Maintenance Cost
Restraints:
High Cost Of Solar Hybrid Inverters
Opportunities:
Rise In Adoption Of Hybrid Power Systems In Telecom Towers and Growing Deployment Of Microgrids
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Solar Hybrid Inverter Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Use Industry
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.