In 2022, the global Solar Inverter Market is expected to be worth US$ 11 billion. Over the forecast period, market sales are expected to grow at a 6% CAGR. Increased use of solar panels and renewable energy will boost market growth. The widespread use of solar inverters in residential, commercial, industrial, and utility applications will continue to drive market sales.
Manufacturers have been expanding their product lines with new technological advancements in inverter technologies in recent years. Because solar energy utilisation in photovoltaic systems is primarily dependent on the inverter, solar inverters have the potential to reduce global warming and greenhouse gas emissions.
“Increasing awareness regarding energy-efficient household equipment, along with stringent regulations pertaining to carbon emissions and energy consumption will drive sales of solar inverters,” says an FMI analyst.
Request a Sample Copy of this Report @
https://www.futuremarketinsights.com/reports/sample/rep-gb-6287
Key Takeaways:
- Based on product type, demand in the central inverters segment will create an absolute dollar opportunity of more than US$ 6.4 Bn over the forecast period.
- By end-use, the residential segment is forecast to create an absolute dollar opportunity of US$ 4.1 Bn over the assessment period.
- Total sales in the U.S. market are expected to increase at a 5.2% CAGR through 2032.
- Japan will emerge as a lucrative pocket, with demand growing at a 6% CAGR over the forecast period.
- The India solar invertor market will expand at a 7% CAGR through 2032, surpassing a valuation of US$ 827.2 Mn.
Micro inverters are gaining popularity due to heavy usage in most of the applications. Microinverters work in the same way as string inverters, except they are put beneath each solar panel on your roof.
Competitive Landscape
The solar invertor market is consolidated with leading players holding around 80%-85% of the total market share. These players are likely to invest in new technology development and expansion of their distribution networks to maintain their market presence.
Some of the key players in this industry include
- Siemens AG
- Fimer Group
- SMA Solar Technology AG
- Delta Electronics Inc
- SunPower Corporation
- Omron Corporation
- Eaton
- Emerson Electric Co.
- ABB Ltd
- Mitsubishi Electric Corporation
- Schneider Electric SE
Each of these microinverters is roughly the size of a router. New electrical rules demand quick solar system shutdown to protect first responders and firemen from excessive voltage when on roofs or maintaining power lines. Microinverters meet these requirements for quick shutdown and have this capacity built into each module.
Customization Before Buying, Visit @
https://www.futuremarketinsights.com/customization-available/rep-gb-6287
Global Solar Inverter Market by Category
By Type:
- Central Inverter
- Micro-Inverter
- String Inverter
By System Type:
- Off Grid
- On Grid
By Phase:
- Single Phase
- Three Phase
By End-Use:
- Residential
- Commercial and Industrial
- Utilities
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- The Middle East and Africa
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights, Inc.
Christiana Corporate,
200 Continental Drive,
Suite 401, Newark,
Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
