Dublin, July 28, 2023 (GLOBE NEWSWIRE) -- The "Global Photovoltaic Inverter Market 2023-2027" report has been added to ResearchAndMarkets.com's offering.
The global photovoltaic inverter market is expected to experience significant growth, with a forecasted increase of USD 4.05 billion during 2022-2027, at a Compound Annual Growth Rate (CAGR) of 7.3%.
Rising demand for renewable energy is a key driver for the photovoltaic inverter market. The shift towards sustainable and clean energy sources has led to increased adoption of solar power generation, which in turn drives the demand for photovoltaic inverters.
The decline in the levelized cost of energy (LOCE) of solar power generation and the cost of photovoltaic inverters contribute to the market growth. As the costs of solar power generation decrease, it becomes a more attractive option for consumers and businesses, leading to increased installations of photovoltaic inverters.
Government regulations supporting solar power generation also play a significant role in driving the market. Incentives, subsidies, and favorable policies from governments encourage the adoption of solar energy, leading to the demand for photovoltaic inverters.
Market Segmentation:
- By Product:
- String
- Central
- Micro
- By Type:
- On-grid
- Off-grid
- By Geographical Landscape:
- APAC
- Europe
- North America
- Middle East and Africa
- South America
Market Opportunities:
- The rapid growth of smart cities is expected to drive the photovoltaic inverter market. Smart city initiatives often focus on sustainability and clean energy solutions, creating opportunities for the adoption of solar power and photovoltaic inverters.
- The rapid deployment of microgrids and the rise in the adoption of hybrid power systems in telecom towers will also contribute to the demand for photovoltaic inverters.
Major Players in the Market:
- ABB Ltd.
- Canadian Solar Inc.
- Danfoss AS
- DARFON ELECTRONICS CORP.
- Delta Electronics Inc.
- Eaton Corp. Plc
- Enphase Energy Inc.
- Fronius International GmbH
- General Electric Co.
- Huawei Technologies Co. Ltd.
- OMRON Corp.
- Powerone Micro Systems Pvt. Ltd.
- Schneider Electric SE
- Siemens AG
- Sineng Electric Co. Ltd.
- SMA Solar Technology AG
- SolarEdge Technologies Inc.
- Sungrow Power Supply Co. Ltd.
- SunPower Corp.
- Yaskawa Solectria Solar
Key Topics Covered
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/o56l0v
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
