Global Photovoltaic (PV) Inverter Markets, 2023

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 Covered1 Executive Summary2 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation by Product7 Market Segmentation by Type8 Customer Landscape9 Geographic Landscape10 Drivers, Challenges, and Trends11 Vendor Landscape12 Vendor Analysis13 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/o56l0v

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