Global Solar Inverter Market Research Report - Forecast to 2023 Industry Survey, Growth, Competitive Landscape and Forecasts to 2023 PREPARED BY Market Research Future (Part of Wantstats Research & Media Pvt. Ltd.) Global Solar Inverter Market Forecast to 2023 Global Solar Inverter Market - Overview Solar inverters are electrical converters which convert DC current into AC for use in commercial electrical grids or other electrical grid networks. Commonly used in solar rooftop or ground-mounted residential and commercial areas, solar converters are a fantastic alternative to traditional electricity generation methods. Market Research Future has invested time and resources to properly understand the global solar inverter market which is expected to grow at a highly optimistic CAGR of 15.65% during the review period from 2017 to 2023. The growth of the market at that rate is expected to reach a market value of USD 24,507.3 Mn by 2023. Ask for Sample @ https://www.marketresearchfuture.com/sample_request/4071 A rising number of solar power plants around the world will drive the solar inverter market. This is largely due to the fact that solar power is a renewable source of clean energy which is in high demand due to rising environmental concerns. The growth of off-grid solar panel installation in commercial, industrial, and residential use will help the market grow rapidly. The reason these factors are driving market growth and the high adoption of solar converters is due to the various benefits of using solar energy. Solar power is free, and clean and reduces carbon footprint while being affordable. Increasing government initiative and policies which support the adoption of solar power has been a driver of growth for the global solar inverter market. Solar Inverters enjoy tremendous popularity and uptake worldwide due to their ability to rapidly convert DC power input into AC while staying connected to the on-grid system. As a result, the solar inverter market garners huge traction, globally. The growing number of solar power plants connected with the grid through an on-grid solar inverter is a major driving force pushing up the market growth. Increasing installations of off-grid solar panels for commercial & industrial and residential use require a reliable and safe power source converter, which solar inverter provides. 2 www.marketresearchfuture.com Global Solar Inverter Market Forecast to 2023 Global Solar Inverter Market - Competitive Analysis Intensely competitive, the solar inverter market appears to be well-established with the presence of many large and small-scale players. Strategic initiatives such as acquisition, expansion, collaboration, and product launch remain the trends of these players to gain a competitive advantage. The competitive landscape of the market is decided based on the market participants, their production capacities, supply chain, and the revenue generated by each manufacturer. July 09, 2019 - FIMER (Italy), Inverter manufacturer giant announced the acquisition of ABB’S solar inverter business in India. The purchase includes PowerOne, the solar inverter business. The acquisition aims at enhancing the solar inverter business in the future and will allow ABB to focus on its business portfolio in other industry segments. Additionally, the acquisition will enable FIMER to enhance sales growth and emerge as the pioneers in the solar inverter market. The transaction is likely to complete in the first quarter of 2020. Browse Full Report @ https://www.marketresearchfuture.com/reports/solar-inverter- market-4071 3 www.marketresearchfuture.com Global Solar Inverter Market Forecast to 2023 MARKET SEGMENT Global Solar Inverter Market - Segments The global solar inverter market has veteran a potential growth over the past few years, and it has also been analyzed that the market will nurture at the same pace during the forecast period. On this event, the market has been segmented on the basis of type, system, end-user & region. By the mode of type, this market segment comprises of central, string & micro. By the mode of system type, this market segment comprises of on-grid and off-grid. By the mode of end-user, the market is segmented into residential, industrial & commercial and utilities. 4 www.marketresearchfuture.com Global Solar Inverter Market Forecast to 2023 KEY PLAYER Key Players: • • • • • • • • • • SMA Solar Technology AG (Germany), ABB Ltd (Switzerland), Canadian Solar Inc. (Canada), SunPower Corporation (US), SolarEdge Technologies Inc. (Israel), Delta Electronics, Inc. (Taiwan), Sineng Electric Co., Ltd. (China), Solectria Renewables, LLC (US), Power Electronics (Spain), and Hitachi Hi-Rel Power Electronics Pvt. Ltd (India) 5 www.marketresearchfuture.com ABOUT US MARKET RESEARCH FUTURE At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members. For more information kindly visit www.marketresearchfuture.com or contact us at [email protected] Copyright © 2018 Market Research Future All Rights Reserved. This document contains highly confidential information and is the sole property of Market Research Future. No part of it may be circulated, copied, quoted, or otherwise reproduced without the written approval of Market Research Future. 6 www.marketresearchfuture.com MARKET RESEARCH FUTURE THANK YOU [email protected] Ph: +1-646-845-9349 (US) Ph: +44 208 133 9349 (UK) 7 www.marketresearchfuture.com
The global demand for solar inverters has been rising robustly at a CAGR of 15.65% from 2017 to 2023. The market is also poised to achieve and exceed valuation of USD 24,507.3 million by 2023 as the demands for the solar inverter is grossing owing to increasing environmental concerns and making it an essential fact of the market. The importance of solar is profoundly portrayed mainly to reduce harmful emissions and to increase the cost of fossil fuels. Due to these reasons, solar power is a more economical energy source in the present day.
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