Solar PV Inverter Market to Expand at a CAGR of 6% Over 2021-2026 - IMARC Group

IMARC Group expects the market to grow at a CAGR of around 6% during 2021-2026.

SHERIDAN, WYOMING, UNITED STATES, February 1, 2022 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled “Solar PV Inverter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global solar PV inverter market share exhibited moderate growth during 2015-2020. A solar inverter converts the direct current (DC) of a photovoltaic (PV) solar panel into a utility frequency alternating current (AC). The PV cells present in the inverter convert the solar energy into electrical energy, which is then stored in batteries for future purposes. Consequently, it finds extensive applications across the commercial, industrial and residential sectors.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Market Trends:

The global market is majorly driven by an enhanced focus on sustainable development. This, along with the increasing environmental concerns regarding greenhouse gas emissions, is significantly contributing to the market growth. Furthermore, the widespread product adoption in the residential sector for electrification purposes is providing a boost to the market growth. Moreover, the increasing demand for uninterrupted power supply is also catalyzing the market growth. Besides this, inflating fossil fuel prices across developed and developing economies and increasing government support to promote renewable energy sources are further providing an impetus to the market growth across the globe. Looking forward, IMARC Group expects the market to grow at a CAGR of around 6% during 2021-2026.

Explore full report with table of contents: https://www.imarcgroup.com/solar-pv-inverter-market

Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
• ABB Ltd
• Schneider Electric SE
• Siemens AG
• Mitsubishi Electric Corporation
• Omron Corporation
• General Electric Company
• SMA Solar Technology AG
• Delta Energy Systems Inc.
• Enphase Energy Inc.
• SolarEdge Technologies Inc.
• Huawei Technologies Co. Ltd
• Kstar New Energy Co. Ltd
• Sineng Electric Co. Ltd
• Sungrow Power Supply Co Ltd
• Tabuchi Electric Co. Ltd
• TBEA Sunoasis Co. Ltd
• Toshiba Corporation

Solar PV Inverter Market Segmentation:
Our report has categorized the market based on region, technology, voltage and application.

Breakup by Technology:
• Central Inverters
• String Inverters
• Microinverters
• Others

Breakup by Voltage:
• < 1,000 V
• 1,000 – 1,499 V
 1,500 V

Breakup by Application:
• Utility Scale
• Residential Scale
• Small Commercial Scale
• Large Commercial Scale
• Industrial Scale

Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:
• Market Performance (2015-2020)
• Market Outlook (2021-2026)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

We are updating our reports, If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Competitive landscape, etc. Click request free sample report, the report will be delivered to you in PDF format via email within 24 to 48 hours after the payment confirmation.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Elena Anderson
IMARC Services Private Limited
+1 631-791-1145
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