The global solar inverter market size is deemed to touch USD 18.97 billion by 2030, asserts Market Research Future (MRFR) in its latest report. It is expected to showcase 5.78% CAGR over the forecast period. MRFR’s report on the solar inverter market focuses on efforts made by manufacturers in streamlining supply chain, agreements with production partners and distributions, and latest developments of energy storage during the forecast period (2021-2028). The COVID-19 pandemic and its implications are explored in depth in the market.
Market Scope
The global solar inverter market is driven by growing demand of renewable energy caused by environmental impact of fossil fuels. This is indicated by agreements between countries to curb pollution levels and efforts in integration of renewable sources to utilities. Establishment of solar plants and installation of solar inverters in commercial and industrial zones can create demand for solar inverters.
Get Free Sample PDF @ https://www.marketresearchfuture.com/sample_request/4071
Government schemes and subsidies, interest by residential and commercial zones, and involvement by the private sector can boost market demand. Installations of solar panels across educational institutions, healthcare institutes, and offices can create a demand for solar inverters.
But high costs of semiconductor components and transportation costs can bog down market revenues over the forecast period.
COVID-19 Impact Analysis
The COVID-19 pandemic has negatively affected the solar inverter market owing to shifting interest from renewable energy to healthcare. This is aligned with efforts by governments to control increasing number of cases and enhancing medical infrastructure using funds. China, one of the largest suppliers of components of solar inverters, has also been affected causing disruptions in the supply chain that led to delays in production. The market may regain its demand after 2021.
Segmentation
Central Solar Inverters to Dominate Market
Central solar inverters can lead in market demand owing to use of low numbers of inverters for management and centralized for power storage. They are available with high power ratings, with high powered solar inverters comprising a step-up transformer for converting direct current to alternate current.
Industrial Application to Lead in Market Share
The industrial application can witness massive market growth due to rapid industrialization globally caused by rise in international trade. Shift to renewable sources of energy and pressure by governments to lower impact of pollution can bode well for the solar inverter market. This is evident with many industrial leaders taking efforts to contain emission levels through changes in production approaches.
Regional Analysis
Investments in Solar Energy to Drive APAC Solar Inverter Market
The Asia-Pacific (APAC) region is expected to be lucrative for the solar inverter market owing to investments in solar parks, presence of various inverter and photovoltaic panel component manufacturers, and rapid industrialization. Efforts by governments to conserve power through renewable energy sources can drive regional market growth. Thailand, India, and China can contribute the maximum to the market due to applications in industrial and commercial sectors.
Competitive Analysis
SolarEdge Technologies Inc. (Israel), Solectria Renewables, LLC (US), Canadian Solar Inc. (Canada), ABB Ltd (Switzerland), SunPower Corporation (US), Hitachi Hi-Rel Power Electronics Pvt. Ltd (India), Sineng Electric Co., Ltd. (China), Power Electronics (Spain), Delta Electronics, Inc. (Taiwan), and SMA Solar Technology AG (Germany) are key players in the global solar inverter market.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/solar-inverter-market-4071
Industry News
Delta Electronics has launched a 250kW solar string inverter for onshore photovoltaic plants capable of working in harshest environmental conditions.
About 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 Edibles.
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.
Contact:
Market Research Future®
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America
Phone:
+1 628 258 0071(US)
+44 2035 002 764(UK)
Email: [email protected]`
