PV Inverter Market Growth Drivers, Trends, and Forecast by 2031

MARKET INTRODUCTION

Growing demand for renewable energy due to high power consumption and a reduction in renewable power generation costs drives the PV inverter market growth. Further, rising utility and industrial based solar PV deployment, integration of advanced energy infrastructure, and a reduction of installation costs for solar modules, inverters, and related equipment are also triggering the demand for the PV inverter market growth.

MARKET DYNAMICS

Stringent government norms about emissions, growing inclination toward integrating advanced inverter units, and large-scale deployment of sustainable energy systems are the major factors booming the PV inverter market growth. Moreover, favorable regulatory inclination towards sustainable energy, expansion of micro-grid networks in the developed countries, rising adoption of smart technologies across the energy storage systems, and increasing operational ability across residential and commercial establishments are positively impacting the growth of the PV inverter market.

MARKET SCOPE

The "Global PV Inverter Market Analysis to 2031" is a specialized and in-depth study of the PV inverter industry with a special focus on the global market trend analysis. The report aims to provide an overview PV inverter market with detailed market segmentation product, connectivity, application, and geography. The global PV inverter market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading PV inverter market players and offers key trends and opportunities in the PV inverter market.

MARKET SEGMENTATION

The global PV inverter market is segmented on the basis product, connectivity, application. On the basis of product the market is segmented as central PV inverter, string PV inverter, micro PV inverter. On the basis of connectivity the market is segmented as stand-alone, on-grid. On the basis of application the market is segmented as residential, commercial, industrial, utilities.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global PV inverter market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The PV inverter market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting PV inverter market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the PV inverter market in these regions.

MARKET PLAYERS

The reports cover key developments in the PV inverter market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from PV inverter market are anticipated to lucrative growth opportunities in the future with the rising demand for PV inverter in the global market. Below mentioned is the list of few companies engaged in the PV inverter market.

The report also includes the profiles of key PV inverter companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

•   ABB
  
•   Delta Electronics Inc.
  
•   Eaton Corporation plc
  
•   Emerson Electric Co.
  
•   General Electric Company
  
•   OMRON Corporation
  
•   Power Electronics S.L.
  
•   Siemens AG
  
•   SMA Solar Technology AG
  
•   SunPower Corporation
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

PV Inverter Report Scope