Solar Inverter Market Outlook and Forecast to 2023: Growth Factors, Trends, Top Companies Analysis for Business Prospects
Global Solar Inverter Market Information Report by Product Type (Micro, String and Central), By System Type, (On-Grid and Off-Grid) By End User (Industrial & Commercial, Utilities and Residential) and By Regions – Global Forecast to 2023.
Pune, India – September 29, 2017 /MarketersMedia/ —
Market Highlights
Solar inverters are an important part of solar panel installation. The main application of solar inverter is to convert DC power produced by the solar panel into usable AC power. Solar inverters enable monitoring of the panel performance, which helps the owner & installer track the overall efficiency of the solar plant. Solar inverter provides diagnostic information to help the OEM recognize and resolve system issues.
Currently, the solar inverter market is in the growth stage. This is due to the increase in demand for power, and in cross-border power transmission, global initiatives to use more renewable and non-conventional energy sources, smart grids, & the global need to restrict carbon emission will boost the global SOLAR INVERTER market. Solar Inverter Market is expected to grow over the CAGR of around 8.6% during the period 2017 to 2023
Key Players
• SMA Solar Technology AG (Germany),
• KACO New Energy Inc. (Germany),
• Mitsubishi Electric Corporation (Japan),
• Schneider Electric SE (France),
• Siemens AG (Germany),
• ABB Ltd. (Switzerland)
• Sungrow Power Supply Co., Ltd (China),
• Huawei Technologies Co. Ltd. (China),
• Hitachi Hi-Rel Power Electronics Pvt. Ltd. (India)
• General Electric Company (U.S).
Market Research Analysis
Micro Solar Inverter is expected to grow at the fastest rate
Solar Inverter are segment into micro, string and central solar inverter. Micro solar inverter are expected to grow at the highest growth rate in forecast period, owing to rapid development in the utility sector which have installed solar power plants in them. Also micro solar inverter can monitor performance each solar panel, has improved installation & fire safety and has an operational efficiency of 90-95%.
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Taste the market data and market information presented through more than 50 market data tables and figures spread in 110 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Solar Inverter Market Research Report- Forecast till 2023”
Solar inverters are an important part of solar panel installation. The main application of solar inverter is to convert DC power produced by the solar panel into usable AC power. Solar inverters enable monitoring of the panel performance, which helps the owner & installer track the overall efficiency of the solar plant. Solar inverter provides diagnostic information to help the OEM recognize and resolve system issues.
Solar Inverter are widely accepted owing to its property of instantaneous conversion of DC power input to AC current while connected to on-grid system. The growing number of solar power plants around the world, which are to be connected with the grid through an on-grid solar inverter are driving the market for solar inverter in the forecast period. Also, growing off-grid solar panel installation for commercial & industrial and residential use requires a reliable and safe power source converter, which is provided by solar inverter. All these factors will drive for the growth in solar inverter market.
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Scope of the Report
This study provides an overview of the global solar inverter market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global solar inverter market by its product type, by system type, by end user and by region.
By Product Type
• Micro
• String
• Central
By System Type
• On-Grid
• Off-Grid
By End User
• Industrial & Commercial
• Utilities
• Residential
By Regions
• North America
• Asia Pacific
• Europe
Rest of the World
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