With the slowdown in world economic growth, the Photovoltaic Inverter industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Photovoltaic Inverter market size to maintain the average annual growth rate of XXX from XXX million $ in 2014 to XXX million $ in 2018, Stratagem Market Insights analysts believe that in the next few years, Photovoltaic Inverter market size will be further expanded, we expect that by 2023, The market size of the Photovoltaic Inverter will reach XXX million $.
A photovoltaic inverter is a device for supplying power to the grid from a PV system. These devices have two main functions. One is to regulate the current of the PV system, while the other controls the voltage of the grid. The main task of an inverter is to regulate the current for PV systems that operate in parallel. Both of these functions are accomplished using a mathematical algorithm called MPPT. The efficiencies of photovoltaic inverters are usually the highest in the mid-range power range. The efficiencies drop with increasing power range. The nominal power range is typically specified by the inverter manufacturer based on normal operating conditions. An undersized inverter has higher energy losses at higher power ranges. To make a proper selection, it is essential to understand the maximum power range of a photovoltaic inverter.
The global photovoltaic inverter market focuses on six regions, such as North America, Asia Pacific, South America, Europe, the Middle East, and Africa.
Drivers:
Increasing developments in the world are expected to fuel the growth of the global photovoltaic inverter market over the forecast period. For instance, in November 2019, SMA Solar Technology AG and LG Chem, a South Korea-based company collaborated, in order to form a new series of home storage devices. PV inverters also need to have good power quality, which means that they should generate an AC current without any DC components. The AC side typically uses fluxgates or closed-loop current sensors, which are expensive and have a low offset characteristic. An open-loop current sensor, such as the coreless current sensor from AKM, has a low offset characteristic and is more cost-effective. The AC side is also sensitive to voltage fluctuations, and the power factor is an important factor in evaluating an inverter's efficiency. Moreover, high investments in renewable power generation, globally in estimated to drive the growth of the global photovoltaic inverter market.
Restraints:
The high cost of advanced inverters is expected to hinder the growth of the global photovoltaic inverter market.
Regional Insights:
In regions, North America is expected to dominate the growth of the global photovoltaic inverter market, owing to the increasing prevalence of solar power projects and companies in the region. For instance, according to the U.S. Solar Energy Industries Association, currently, there are around 13,299 solar panel installation businesses in the United States. The Asia Pacific is expected to witness significant growth in the global photovoltaic inverter market owing to the increasing investments in the renewable energy generation sectors. The increasing awareness related to environmental issues among residents is assessed to drive the market growth.
Competitive Section:
Key players operating in the global photovoltaic inverter market include TBEA Xinjiang SunOasis, Growatt New Energy, KACO new energy, Yaskawa Solectria Solar, TMEIC, GoodWe, BESTEK, Samlex Europe, Sensata Technologies, Delphi Technologies, Continental, Delta Electronics, General Electric, Schneider Electric, Darfon Electronics Corporation, Enphase Energy, Altenergy Power System, Fronius International, SolarEdge Technologies, FIMER, Power Electronics, SMA Solar Technology, Sungrow Power Supply, and Huawei Technologies.
In April 2022, Sungrow Power Supply supplied string inverters to a 20.7 MW rooftop PV plant.
In November 2021, FIMER and Indefol Solar signed a contract in order to deliver an inverter, which will be used for the Celadon sports & Resort Club project.
This Report covers the manufacturers' data, including: shipment, price, revenue, gross profit, interview record, and business distribution etc., these data help the consumer know about the competitors better. This report also covers all the regions and countries of the world, which shows a regional development status, including market size, volume and value, as well as price data.
Besides, the report also covers segment data, including: type segment, industry segment, channel segment, etc. covering different segment market size, both volume and value. Also cover different industry's client's information, which is very important for the manufacturers.
Section 1: Definition
Section (2 3): Manufacturer Detail
ABB
SMA Solar Technology
OMRON
Huawei
TMEIC
SUNGROW
Section 4: Region Segmentation
North America Country (United States, Canada)
South America
Asia Country (China, Japan, India, Korea)
Europe Country (Germany, UK, France, Italy)
Other Country (Middle East, Africa, GCC)
Section (5 6 7):
Product Type Segmentation
Central Inverters
String Inverters
Micro-Inverters
Industry Segmentation
On-Grid
Off-Grid
Battery Backup Inverter
Channel (Direct Sales, Distributor) Segmentation
Section 8: Trend (2018-2023)
Section 9: Product Type Detail
Section 10: Downstream Consumer
Section 11: Cost Structure
Section 12: Conclusion
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