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.
By Geographical Landscape:
Middle East and Africa
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:
Canadian Solar Inc.
DARFON ELECTRONICS CORP.
Delta Electronics Inc.
Eaton Corp. Plc
Enphase Energy Inc.
Fronius International GmbH
General Electric Co.
Huawei Technologies Co. Ltd.
Powerone Micro Systems Pvt. Ltd.
Schneider Electric SE
Sineng Electric Co. Ltd.
SMA Solar Technology AG
SolarEdge Technologies Inc.
Sungrow Power Supply Co. Ltd.
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
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