Global Photovoltaic Inverter Market 2023-2027
Technavio has been monitoring the photovoltaic inverter market and is forecast to grow by USD 4054.38 mn during 2022-2027, accelerating at a CAGR of 7.3% during the forecast period. Our report on the photovoltaic inverter market provides a holistic analysis, market size, and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the rising demand for renewable energy, the decline in the levelized cost of energy (LOCE) of solar power generation and the cost of photovoltaic inverters, and government regulations supporting solar power generation.
Technavio's photovoltaic inverter market is segmented as below:
By Product
By Type
By Geographical Landscape
- APAC
- Europe
- North America
- Middle East and Africa
- South America
This study identifies the rapid growth of smart cities as one of the prime reasons driving the photovoltaic inverter market growth during the next few years. Also, the rapid deployment of microgrids and the rise in the adoption of hybrid power systems in telecom towers will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the photovoltaic inverter market covers the following areas:
- Photovoltaic inverter market sizing
- Photovoltaic inverter market forecast
- Photovoltaic inverter market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading photovoltaic inverter market vendors that include 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., and Yaskawa Solectria Solar. Also, the photovoltaic inverter market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.