Global PV Inverter Market 2022-2028

Global PV Inverter Market 2022-2028

A solar inverter, or converter or PV inverter, converts the variable direct current (DC) output of a photovoltaic (PV) solar panel into a utility frequency alternating current (AC) that can be fed into a commercial electrical grid or used by a local, off-grid electrical network. It is a critical balance of system component in a photovoltaic system, allowing the use of ordinary AC-powered equipment. Solar power inverters have special functions adapted for use with photovoltaic arrays, including maximum power point tracking and anti-islanding protection. According to latest analysis by Gen Consulting Company, the global PV inverter market is projected to climb to USD 12,648 million by 2028-end, progressing at a CAGR of 4.1% during 2022-2028.

The report provides in-depth analysis and insights regarding the current global market scenario, latest trends and drivers into global PV inverter market. It offers an exclusive insight into various details such as market size, key trends, competitive landscape, growth rate and market segments. This study also provides an analysis of the impact of the COVID-19 crisis on the PV inverter industry.

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the product, power range, grid connectivity, end user, and region. The global market for PV inverter can be segmented by product: central inverter, microinverter, string inverter. PV inverter market is further segmented by power range: less than 10kW, 10-100 kW, 100-1000 kW, above 1000 kW. The less than 10kW segment was the largest contributor to the global PV inverter market in 2021. Based on grid connectivity, the PV inverter market is segmented into: on-grid, off-grid. The on-grid segment is estimated to account for the largest share of the global PV inverter market. On the basis of end user, the PV inverter market also can be divided into: utility, commercial, residential. PV inverter market by region is categorized into: North America, Asia Pacific, Europe, Rest of the World (ROW).

By product:

• central inverter
• microinverter
• string inverter

By power range:

• less than 10kW
• 10-100 kW
• 100-1000 kW
• above 1000 kW

By grid connectivity:

• on-grid
• off-grid

By end user:

• utility
• commercial
• residential

By region:

• North America
• Asia Pacific
• Europe
• Rest of the World (ROW)

The report also provides analysis of the key companies of the industry and their detailed company profiles including Fimer Spa, Ginlong Technologies Co., Ltd., Huawei Technologies Co., Ltd., Jiangsu GoodWe Power Supply Technology Co., Ltd., Kehua Hengsheng Co., Ltd., Power Electronics S.L., Shenzhen Growatt New Energy Technology Co., Ltd., Shenzhen KSTAR Science and Technology Co., Ltd., Sineng Electric Co., Ltd., SMA Solar Technology AG, SolarEdge Technologies, Inc., Sungrow Power Supply Co., Ltd., among others.

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Historical & Forecast Period

This research report provides analysis for each segment from 2018 to 2028 considering 2021 to be the base year.

Scope of the Report

• To analyze and forecast the market size of the global PV inverter market.
• To classify and forecast the global PV inverter market based on product, power range, grid connectivity, end user, region.
• To identify drivers and challenges for the global PV inverter market.
• To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global PV inverter market.
• To identify and analyze the profile of leading players operating in the global PV inverter market.

Why Choose This Report

• Gain a reliable outlook of the global PV inverter market forecasts from 2022 to 2028 across scenarios.
• Identify growth segments for investment.
• Stay ahead of competitors through company profiles and market data.
• The market estimate for ease of analysis across scenarios in Excel format.
• Strategy consulting and research support for three months.
• Print authentication provided for the single-user license.