Solar Inverter Market By Technology Segment (Central Inverter, String Inverter, Micro Inverter, Others), By Application (Utility Scale, Residential Scale, Small Commercial Scale, Large Commercial Scale, Industrial Scale), By Voltage (Automotive, < 1,000 V, 1,000 - 1,499 V, > 1,500 V) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

"Increasing Adoption of Renewable Source of Energy Ensure Rapid Growth for Solar Inverter Market"

Globally, the solar inverter market is expected to grow with a CAGR of 5.5% during the forecast period from 2019 to 2027, starting from US$6.9 Bn in 2018.

The solar inverter or Photovoltaic (PV) inverter are used to convert the direct current (DC) produced from the solar panels into alternative current (AC) which can be used for commercial, residential and industrial purposes.  The rising demand for energy and power is an essential factor for the growth of the solar inverter globally, as the prices for non-renewable source of energy. Moreover, increasing the pollution due to burning of fuels, and concerns related to greenhouse emission is a major factor for driving the solar inverter market.

One of the major benefit of the solar inverter is that the energy produced through it is pollution free and environmental friendly. Additionally, the technological advancement and investments made by the companies and organization are also fueling the growth of the market. During 2017, A total of 99.1GWof grid-connected solar was installed. In several countries, the government is also supporting the production of electricity from solar energy by providing subsidy and other benefits to the individuals. 

Market Synopsis

Solar Inverter Market

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"By Technology, the Central Inverters Dominates the Solar Inverter Market"

Based on technology, the solar inverter has been segmented as central inverter, string inverter, micro inverter, others. The central inverters hold the largest market share. In central inverters, the solar panel of the whole systems is connected in series, through which the DC power is converted in AC with the help of solar converters. The central inverters have main application in large scale industries. The investment for the central inverter low per watt on comparing it with string and microcomputer. Further, the rising demand of energy from various industries is also boosting the growth of the market.

Solar Inverter Market

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"Asia Pacific to Register the Fastest Growth"

Solar inverter market is led by Asia-Pacific region due to presence of various countries such as China, India, Japan and others and investments made by the players in the region. The rising regulations and rising demand for the power in the region boosts the growth in the market. The Asia-Pacific holds more than 50% of the market share in solar inverter. During 2017, the China had installed more than half of the world’s solar capacity compared worldwide. The low cost of the power generated is an another factor for the growth of the market in the region.

Solar Inverter Market

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Some of the prominent players operating in the solar inverter market include Huawei Technologies Co. Ltd, TBEA Sunoasis Co. Ltd, ABB Ltd., Schneider Electric SE, Sungrow Power Supply Co Ltd, Omron Corporation, Siemens AG, General Electric Company, Enphase Energy Inc., SMA Solar Technology AG, SolarEdge Technologies Inc., Sineng Electric Co. Ltd, Kstar New Energy Co. Ltd, Mitsubishi Electric Corporation, Tabuchi Electric Co. Ltd, TMEIC Corporation, and Delta Energy Systems Inc.

Solar Inverter Market

Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The solar inverter market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global solar inverter market based on technology, voltage, application and geography. Key segments covered in the report are as follows:

Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  USD Billion

 Technology Segment (2017–2027; US$ Bn)
 • Central inverter
 • String inverter
 • Micro inverter
 • Others

 Voltage Segment (2017–2027; US$ Bn)
 • < 1,000 V
 • 1,000 - 1,499 V
 • > 1,500 V.

 Application Segment (2017–2027; US$ Bn)
 • Utility scale
 • Residential scale
 • Small commercial scale
 • Large commercial scale
 • Industrial scale

 Geography Segment(2017–2027; US$ Bn)
 • North America (U.S., Rest of North America)
 • Europe (U.K., Germany, France, Rest of Europe)
 • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
 • Rest of the World (Middle East & Africa, Latin America)

Key questions answered in this report

  • What was the market size of solar inverter in 2018 and forecast up to 2027?
  • Which is the largest regional market for central inverter?
  • What are the major trends followed in solar inverter market across different regions?
  • Who is the key solar inverter companies leading the market?
  • What are the key strategies adopted by the leading solar inverter companies in market?

Unique data points of this report

  • Statistics on solar inverter penetration and spending worldwide
  • Recent trends across different regions in terms of adoption of solar inverter for various vehicles
  • Notable developments going on in solar inverter industry
  • Attractive investment proposition for segments as well as geography
  • Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
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Published Date:  Jul 2019
Category:  Technology & Media
Report ID:   59780
Report Format:   PDF
Pages:   120
Rating:    4.2 (69)
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