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 size 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.Request to get the sample report: www.imarcgroup.com/solar-pv-inverter-market/requestsample
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: 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
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