Inverter Market by Type (Solar Inverters, Vehicle Inverter, others), Output Power Rating (Upto 10 kW, 10-50 kW, 51-100 kW, above 100 kW), End User (PV Plants, Residential, Automotive), Connection, Voltage, Sales Channel & Region - Global Forecast to 2027
The global inverter market size was valued at USD 16.3 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 15.7% from 2022 to 2027. The growth of the inverter market can be attributed to growing investments in the renewable power generation technologies, green infrastructure. The rapidly usage of power backup systems in various sectors is also fueling demand for inverters.
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Inverter Market Dynamics
Driver: Rising number of solar installations attributed to government-led incentives and schemes
Rapid developments in the solar energy sector in terms of power generation and utilization are contributing to the increase in the number of solar PV installations for various applications across the world. According to the Global Market Outlook for Solar Power/2022–2026—a report published by SolarPower Europe— global solar capacity doubled in 3 years from 2018, bringing the global solar fleet to one Terawatt capacity in April 2022. Solar is the fastest-growing renewable energy, representing over half of the 302 GW of renewable capacity installed internationally in 2021. Countries such as China, the US, Germany, and Japan are major markets with the highest number of new solar installations in 2019 and 2020. Flourishing solar energy markets, including India, Brazil, and China, are expected to create growth opportunities for the solar inverter system market. Moreover, an increase in the number of global PV power plant installations is also creating potential growth opportunities for the solar inverter system market.
The governments of different countries undertake various schemes and initiatives to encourage the use of inverters in industrial applications. For instance, in 2020, China’s national energy administration (NEA) has set a target for renewable power to account for over half of total installed capacity by 2025 to help support the country’s emissions goals as a part of the 14th Five-year Plan (2021–2025). China was the largest PV market in the world in 2020. The Self-generation Incentive Program (SGIP – California only) and the US tax credits make solar and energy storage an attractive proposition for commercial end users. The demand for distributed PV in Europe has been driven by incentives provided by governments of different countries to promote residential and small commercial PV installations. The feed-in tariff (FiT) is a policy designed to encourage the adoption of all kinds of renewable sources of energy to reduce energy costs. The FiT policy typically includes three provisions: guaranteed grid access, a long-term fixed purchase price contract (generally of 20 years) for the electricity produced, and the decline in contract prices for new installations that are based on the cost of renewable energy generation with a downward trend toward grid parity. This policy was introduced in several major countries, including Germany, Italy, and the UK. Japan and China also have major PV FiT programs. These countries are expected to witness growth in the solar PV markets. With a guaranteed selling price of solar panels for 20 years, customers can make a reasonable return on their investments for a long time, thereby encouraging the installation of large systems on rooftops of buildings. These government incentives and schemes encourage solar companies to invest in solar projects. This, in turn, is acting as a growth driver for the market for inverters, especially solar inverters.
Restraint: Safety risks associated with high DC voltages
In traditional PV systems, PV panels, wires, and other equipment are energized with high DC voltages. These high DC voltages pose risks to installers, maintenance personnel, and firefighters. Solar inverters with PV arrays involve high DC voltages, making it difficult to isolate DC electric devices from PV arrays using DC isolation switches. When PV modules are connected in series, they create a high voltage, which can be dangerous for installers during the system installation. Under the condition of short-circuit current, there is a possibility of electric arcs, which can result in fire and a resulting threat to people in the vicinity of a PV system. These DC arcs are difficult to extinguish, posing a risk to firefighters. The fire can damage DC cables in PV arrays, thereby leading inverters to shut down automatically while manually isolating DC cables and other components. Safety mechanisms mandated by the National Electric Code (NEC) and the Electrical Safety Authority (ESA) of the US do not eliminate all risks, which hamper the growth of the inverter market.
Opportunities: Growing demand for electric vehicles
Inverters are used in automotive applications such as EV power trains. The DC power taken from vehicles’ batteries is converted to usable AC by these inverters. Vehicle inverters are used for operating onboard electronic systems and motors of vehicles. Continental (Germany), Delphi Technologies (UK), Toyota Industries (Japan), Sensata Technologies (US), Samlex Europe (Netherlands), and BESTEK (US) are some of the key manufacturers and providers of vehicle inverters.
Technological advancements in the automotive industry and the advent of trends such as connected, autonomous, and electric vehicles have increased the demand for electronic systems in vehicles. With the emphasis being laid on various environmental regulations, the electric vehicle market has witnessed decent growth globally. This, in turn, has led to the growth of its adjacent markets. The increasing propensity for electric vehicles among consumers is likely to drive the demand for vehicle inverters. Ambitious EV targets set by governments of different countries and required policy support have resulted in a decline in the costs of electric vehicles, extension in vehicle range, and improvements in charging infrastructures, which have further fueled the demand for electric vehicles globally. These factors are expected to create lucrative opportunities for the providers of vehicle inverters during the review period.
Challenges: Availability of low quality and cheap products in gray market and pricing pressure on manufacturers
The inverter market is highly fragmented, with many local and international players. Product quality is a primary parameter for differentiation in this market. The organized sector mainly targets industrial buyers and maintains higher product quality by following various industrial standards of the product. At the same time, the unorganized sector offers cheaper alternatives. The local manufacturers in most countries target the unorganized sector and compete strongly with global suppliers in the respective markets. The leading market players are currently facing stiff competition from the new players from the unorganized market, supplying cheap and low-quality products. These gray market players overpower the big players in terms of price competitiveness and local distribution network, which is a major challenge for the players operating in the inverter market.
Solar PV systems are witnessing increased global demand as they are used to generate green power to reduce dependence on grid power. With reduced prices of solar modules, inverters account for a large share of the overall installation costs of these modules. This results in downward price pressure on manufacturers of inverters. As the overall costs of residential, commercial, industrial, and utility-based solar systems are reducing, inverter companies are bound to reduce the prices of their products. Manufacturers of solar modules are enduring more pressure than the manufacturers of solar inverters in terms of reduction in the prices of their products. Manufacturers of solar inverters are finding it difficult to accommodate this change and allow price drops in their inverters. These price drops can be primarily attributed to the development of low-cost equipment and compressed profit margins, which are indicators of the overall price decline in inverters in the near future.
Market Trends
Market Interconnection
Automotive segment, by end user, is expected to grow at the highest CAGR during forecast period
The automotive segment is expected to register the highest CAGR during the forecast period. The adoption of electric vehicles is growing substantially due to the implementation of emission regulations to limit the emissions from traditional vehicles. Apart from electric vehicles, the inverters are also used in conventional vehicles for on-board power appliances. These factors are thus responsible for the increased demand of vehicle inverters which is expected to fuel the growth for the automotive segment.
By output power rating, Below 10 kW segment is expected to be the most significant contributor to the global inverter market during the forecast period
By output power rating, the inverter market has been segmented into below 10 kW, 10 – 50 kW, 50 – 100 kW, Above 100 kW. Below 10 kW is expected to be the largest segment during the forecast period. These inverters with the power rating below 10 kW are commonly used in residential applications. The growth of the market can be mainly attributed to the increase the number of solar roof top installations in various countries. Mainly in Asia Pacific countries such as India and china, the government initiatives and schemes in developing solar pv systems is fuelling the growth of the below 10 kW segment.
“Asia Pacific: The largest and fastest inverter market”
Asia Pacific is expected to dominate the global inverter market between 2022–2027, followed by North America and the Europe. The inverter market in Asia Pacific is witnessing significant developments in the renewable energy sector due to increased initiatives towards climate change and net zero targets, which has supported the demand for inverters across countries of the region. The increasing investments in the photovoltaic (pv) plants, rise of installations in the residential sector along with the shift in transportation towards electrical vehicles in countries such as China, India, Australia, and Japan.
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Key Market Players
The inverter market is dominated by a few major players that have a wide regional presence. The major players in the inverter market are Huawei Technologies (China), Sungrow Power Supply (China), SMA Solar Technology (Germany), Power Electronics (Spain), FIMER (Italy), SolarEdge Technologies (Israel), Fronius International (Austria), Altenergy Power System (US), Enphase Energy (US), Darfon Electronics Corporation (China), Schneider Electric (France). Between 2018 and 2022, the companies adopted growth strategies such as sales contracts to capture a larger share of the inverter market.
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Report Attributes |
Details |
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Market size: |
from an estimated USD 16.3 billion in 2022 to USD 33.8 billion in 2027 |
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Growth Rate: |
15.7% |
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Largest Market: |
Asia Pacific |
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Market Dynamics: |
Drivers, Restraints, Opportunities & Challenges |
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Forecast Period: |
2022-2027 |
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Forecast Units: |
Value (USD Billion) |
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Report Coverage: |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
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Segments Covered: |
Inverter type, output power rating, output voltage, sales channel, connection type, end user, and region |
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Geographies Covered: |
Asia Pacific, North America, Europe, Middle East & Africa, and South America |
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Report Highlights:
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Updated financial information / product portfolio of players |
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Key Market Opportunities: |
Growing demand for electric vehicles |
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Key Market Drivers: |
Rising number of solar installations attributed to government-led incentives and schemes |
This research report categorizes the inverter market inverter type, output power rating, output voltage, sales channel, connection type, end user, and region
On the basis of inverter type:
- Solar inverter
- Vehicle inverter
- Others (UPS and battery inverters)
On the basis of output power rating:
- Below 10 kW
- 10–50 kW
- 50–100 kW
- Above 100 kW
On the basis of output voltage:
- 100–300 V
- 300–500 V
- Above 500 V
On the basis of sales channel:
- Direct
- Indirect
On the basis of connection type:
- Standalone
- Grid-tied
On the basis of end user:
- Residential
- Automotive
- Photovoltaic (PV) Plants
- Others (Commercial, Industrial, and utilities)
On the basis of region:
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- South America
Recent Developments
- In March 2022, Huawei Technologies has signed a strategic cooperation agreement with Meienergy Technology Co., Ltd for providing smart PV and energy storage system for the 1 GW utility PV plant and 500 MWh energy storage system in Ghana which is developed by Meienergy.
- In April 2022, Sungrow Power Supply has supplied string inverters to a 20.7 MW rooftop PV plant for electric vehicle manufacturing base of XPENG. The XPENG factory is now powered by 30% of clean electricity.
- In November 2019, SMA Solar Technology AG collaborated with South Korea-based LG Chem. Through this collaboration, the SUNNY BOY STORAGE battery inverters of SMA and RESU 10M batteries of LG Chem will be combined to form new home storage systems. The integration of SMA battery inverters with the RESU 10M batteries is expected to result in the development of integrated DC/DC converters, which can increase the operating voltage of batteries.
- In November 2021, FIMER made a contract with Indefol solar to supply inverter for Celadon sports & Resort Club project. this project comprises 1,677 solar panels across a total surface area of 4,800 square meters. powered by 6 of FIMER’s PVS-100-TL three-phase string inverter solution
Frequently Asked Questions (FAQ):
What is the current size of the inverter market?
The current market size of global inverter market is USD 14.2 billion in 2021.
What is the major drivers?
The growth of the inverter market can be attributed to growing investments in the renewable power generation technologies, green infrastructure. The rapidly usage of power backup systems in various sectors is also fueling demand for inverters.
Which is the fastest-growing region during the forecasted period?
Asia Pacific is witnessing significant developments in the renewable energy sector due to increased initiatives towards climate change and net zero targets, which has supported the demand for inverters across countries of the region. The increasing investments in the photovoltaic (pv) plants, rise of installations in the residential sector along with the shift in transportation towards electrical vehicles
Which is the fastest-growing segment, by end user during the forecasted period?
The automotive segment is expected to be the fastest-growing segment in the inverter market. The adoption of electric vehicles is growing substantially due to the implementation of emission regulations to limit the emissions from traditional vehicles. Apart from electric vehicles, the inverters are also used in conventional vehicles for on-board power appliances. These factors are thus responsible for the increased demand of vehicle inverters which is expected to fuel the growth for the automotive segment. .
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 29)
1.1 STUDY OBJECTIVES
1.2 DEFINITION
1.2.1 INVERTER MARKET, BY OUTPUT POWER RATING: INCLUSIONS AND EXCLUSIONS
1.2.2 MARKET, BY END USER: INCLUSIONS AND EXCLUSIONS
1.2.3 MARKET, BY TYPE: INCLUSIONS AND EXCLUSIONS
1.2.4 MARKET, BY OUTPUT VOLTAGE: INCLUSIONS AND EXCLUSIONS
1.2.5 MARKET, BY CONNECTION TYPE: INCLUSIONS AND EXCLUSIONS
1.2.6 MARKET, BY SALES CHANNEL: INCLUSIONS AND EXCLUSIONS
1.3 MARKET SCOPE
1.3.1 MARKET SEGMENTATION
1.3.2 REGIONAL SCOPE
1.3.3 YEARS CONSIDERED
1.4 CURRENCY
1.5 LIMITATIONS
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 35)
2.1 RESEARCH DATA
FIGURE 1 INVERTER MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Key data from primary insides
2.1.2.3 Breakdown of primaries
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach for arriving at market size using bottom-up approach (demand side)
FIGURE 2 MARKET BOTTOM-UP APPROACH
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach for arriving at market size using top-down approach (Supply side)
FIGURE 3 MARKET TOP-DOWN APPROACH
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BASED ON SUPPLY SIDE ANALYSIS
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 5 DATA TRIANGULATION
2.4 KEY ASSUMPTIONS
FIGURE 6 ASSUMPTIONS FOR RESEARCH STUDY
2.5 FORECAST
3 EXECUTIVE SUMMARY (Page No. - 45)
TABLE 1 INVERTER MARKET SNAPSHOT
FIGURE 7 SOLAR INVERTER SEGMENT TO LEAD MARKET, BY TYPE, DURING FORECAST PERIOD
FIGURE 8 100–300 V SEGMENT TO LEAD MARKET, BY OUTPUT VOLTAGE, DURING FORECAST PERIOD
FIGURE 9 BELOW 10 KW SEGMENT TO LEAD MARKET, BY POWER RATING, DURING FORECAST PERIOD
FIGURE 10 GRID-TIED SEGMENT TO LEAD MARKET, BY CONNECTION TYPE, DURING FORECAST PERIOD
FIGURE 11 INDIRECT SEGMENT TO LEAD MARKET, BY SALES CHANNEL, DURING FORECAST PERIOD
FIGURE 12 RESIDENTIAL SEGMENT TO LEAD MARKET, BY END USER, DURING FORECAST PERIOD
FIGURE 13 ASIA PACIFIC TO DOMINATE MARKET DURING FORECAST PERIOD
4 PREMIUM INSIGHTS (Page No. - 50)
4.1 ATTRACTIVE OPPORTUNITIES IN INVERTER MARKET
FIGURE 14 GOVERNMENT-LED INITIATIVES RELATED TO PV PLANTS AND AUTOMOTIVE INDUSTRY TO DRIVE GROWTH OF MARKET DURING FORECAST PERIOD
4.2 MARKET, BY REGION
FIGURE 15 ASIA PACIFIC MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
4.3 MARKET, BY TYPE
FIGURE 16 SOLAR INVERTER SEGMENT DOMINATED MARKET IN 2021
4.4 MARKET, BY OUTPUT VOLTAGE
FIGURE 17 100–300 V SEGMENT DOMINATED MARKET IN 2021
4.5 MARKET, BY POWER RATING
FIGURE 18 BELOW 10 KW SEGMENT HELD LARGEST SHARE OF MARKET IN 2021
4.6 MARKET, BY CONNECTION TYPE
FIGURE 19 GRID-TIED SEGMENT HELD LARGER SHARE OF MARKET IN 2021
4.7 MARKET, BY SALES CHANNEL
FIGURE 20 INDIRECT SALES SEGMENT HELD LARGER SHARE OF MARKET IN 2021
4.8 MARKET, BY END USER
FIGURE 21 RESIDENTIAL SEGMENT DOMINATED MARKET IN 2021
5 MARKET OVERVIEW (Page No. - 54)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 22 INVERTER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Increasing investments in renewable energy sector
FIGURE 23 GLOBAL NET SOLAR CAPACITY ADDITION (GW)
FIGURE 24 GLOBAL INVESTMENTS IN RENEWABLE ENERGY SOURCES IN 2019 (USD BILLION)
5.2.1.2 Rising number of solar installations attributed to government-led incentives and schemes
5.2.1.3 Growing demand for residential solar rooftop installations and distributed energy resources (DERs)
5.2.2 RESTRAINTS
5.2.2.1 Safety risks associated with high DC voltages
5.2.2.2 Strain on batteries due to prolonged use of inverters
5.2.3 OPPORTUNITIES
5.2.3.1 Growing demand for electric vehicles
5.2.3.2 Increasing investments in development of smart grids
5.2.3.3 Technological innovations in inverters and development of high-power density inverters
5.2.4 CHALLENGES
5.2.4.1 Availability of low-quality and cheap products in gray market and pricing pressure on manufactures
5.2.4.2 Shortage of components and parts due to COVID-19 crisis
TABLE 2 REGION/COUNTRY-WISE PERCENTAGE DEVIATION FROM BENCHMARKS DUE TO COVID-19
5.3 PORTER’S FIVE FORCES ANALYSIS
TABLE 3 INVERTER MARKET: PORTER’S FIVE FORCES ANALYSIS
FIGURE 27 PORTER’S FIVE FORCES ANALYSIS
5.3.1 THREAT OF SUBSTITUTES
5.3.2 BARGAINING POWER OF SUPPLIERS
5.3.3 BARGAINING POWER OF BUYERS
5.3.4 THREAT OF NEW ENTRANTS
5.3.5 INTENSITY OF COMPETITIVE RIVALRY
5.4 KEY STAKEHOLDERS AND BUYING CRITERIA
5.4.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 28 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY END USER
TABLE 4 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY END USER (%)
5.4.2 BUYING CRITERIA
FIGURE 29 KEY BUYING CRITERIA FOR END USERS
TABLE 5 KEY BUYING CRITERIA, BY END USER
5.5 COVID-19 IMPACT ANALYSIS
5.5.1 COVID-19 HEALTH ASSESSMENT
FIGURE 30 COVID-19 GLOBAL PROPAGATION
FIGURE 31 COVID-19 PROPAGATION IN SELECTED COUNTRIES
5.5.2 COVID-19 ECONOMIC ASSESSMENT
FIGURE 32 REVISED GDP FORECASTS FOR SELECTED G20 COUNTRIES IN 2020
5.6 AVERAGE SELLING PRICE TREND
FIGURE 33 AVERAGE SELLING PRICES OF INVERTERS OF DIFFERENT OUTPUT POWER RATINGS
TABLE 6 AVERAGE SELLING PRICES OF INVERTERS OF DIFFERENT OUTPUT POWER RATINGS (USD)
5.7 VALUE CHAIN ANALYSIS
FIGURE 34 INVERTER MARKET VALUE CHAIN
5.7.1 RESEARCH AND DEVELOPMENT
5.7.2 COMPONENT PROVIDERS
5.7.3 MANUFACTURERS/ASSEMBLERS
5.7.4 SYSTEM INTEGRATORS AND DISTRIBUTORS
5.7.5 END USERS
5.7.6 POST-SALES SERVICES
5.8 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
5.8.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR INVERTER MANUFACTURERS
FIGURE 35 REVENUE SHIFT FOR INVERTERS
5.9 TECHNOLOGY ANALYSIS
5.9.1 Z-SOURCE INVERTER
5.9.2 SOLAR MICRO-INVERTER
5.10 KEY CONFERENCES AND EVENTS BETWEEN 2022 AND 2023
TABLE 7 MARKET: DETAILED LIST OF CONFERENCES & EVENTS
5.11 MARKET MAP
FIGURE 36 MARKET MAP FOR INVERTER
5.12 INNOVATIONS AND PATENT REGISTRATIONS
TABLE 8 MARKET: PATENTS & INNOVATIONS
5.13 TRADE DATA STATISTICS
TABLE 9 ELECTRICAL STATIC CONVERTER MARKET: IMPORT STATISTICS, 2018–2021 (USD MILLION)
TABLE 10 ELECTRICAL STATIC CONVERTER MARKET: EXPORT STATISTICS, 2018–2021 (USD MILLION)
5.14 CASE STUDY ANALYSIS
5.14.1 SUNGROW PROVIDES TURNKEY SOLUTION TO SOLAR POWER PLANT IN BARGAS, SPAIN, 2021
5.14.2 MAN TRUCKS & BUSES, SOUTH AFRICA, DECIDED TO GO GREEN WITH GOODWE INVERTERS, 2021
5.14.3 FIMER PROVIDED INVERTER TO FIVE MID-LARGE SCALE SOLAR FARM PROJECTS IN REGIONAL SOUTH AUSTRALIA, 2021
5.15 TARIFFS, CODES, AND REGULATIONS
5.15.1 TARIFFS RELATED TO INVERTERS
TABLE 11 IMPORT TARIFFS FOR HS 850440, ELECTRICAL STATIC CONVERTERS
5.15.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 12 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 13 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 14 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 15 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 16 GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.15.3 CODES AND REGULATIONS RELATED TO INVERTERS
TABLE 17 GLOBAL: CODES AND REGULATIONS
6 INVERTER MARKET, BY OUTPUT POWER RATING (Page No. - 82)
6.1 INTRODUCTION
FIGURE 37 MARKET SHARE, BY OUTPUT POWER RATING, 2021
TABLE 18 MARKET, BY OUTPUT POWER RATING, 2020–2027 (USD MILLION)
6.2 BELOW 10 KW
6.2.1 RISING DEMAND FOR RESIDENTIAL INVERTORS IN RESIDENTIAL SECTOR TO FUEL MARKET GROWTH
TABLE 19 BELOW 10 KW: MARKET, BY REGION, 2020–2027 (USD MILLION)
6.3 10–50 KW
6.3.1 EXPANDING COMMERCIAL SECTOR TO FUEL DEMAND FOR INVERTERS WITH 10–50 KW OUTPUT POWER RATING
TABLE 20 10–50 KW: MARKET, BY REGION, 2020–2027 (USD MILLION)
6.4 50–100 KW
6.4.1 GROWING DEMAND FOR SOLAR INVERTERS IN PV PLANTS AND VARIOUS INDUSTRIES TO BOOST MARKET GROWTH
TABLE 21 50–100 KW: MARKET, BY REGION, 2020–2027 (USD MILLION)
6.5 ABOVE 100 KW
6.5.1 RISING NUMBER OF PV PLANTS AND EXPANDING AUTOMOTIVE INDUSTRY TO DRIVE MARKET GROWTH
TABLE 22 ABOVE 100 KW: MARKET, BY REGION, 2020–2027 (USD MILLION)
7 INVERTER MARKET, BY OUTPUT VOLTAGE (Page No. - 87)
7.1 INTRODUCTION
FIGURE 38 MARKET SHARE, BY OUTPUT VOLTAGE, 2021
TABLE 23 MARKET, BY OUTPUT VOLTAGE, 2020–2027 (USD MILLION)
7.2 100–300 V
7.2.1 RISING ELECTRICITY DEMAND TO DRIVE MARKET GROWTH
TABLE 24 100–300 V: MARKET, BY REGION, 2020–2027 (USD MILLION)
7.3 300–500 V
7.3.1 REQUIREMENT FOR UNINTERRUPTED POWER SUPPLY IN COMMERCIAL SECTOR AND VARIOUS INDUSTRIES TO DRIVE MARKET GROWTH
TABLE 25 300–500 V: MARKET, BY REGION, 2020–2027 (USD MILLION)
7.4 ABOVE 500 V
7.4.1 RISING INVESTMENTS IN DEVELOPMENT OF ON-GRID PV PLANTS TO DRIVE MARKET GROWTH
TABLE 26 ABOVE 500 V: MARKET, BY REGION, 2020–2027 (USD MILLION)
8 INVERTER MARKET, BY END USER (Page No. - 92)
8.1 INTRODUCTION
FIGURE 39 MARKET SHARE, BY END USER, 2021
TABLE 27 MARKET, BY END USER, 2020–2027 (USD MILLION)
8.2 RESIDENTIAL
8.2.1 GOVERNMENT-LED INITIATIVES TO PROMOTE INSTALLATION OF ROOFTOP SOLAR SYSTEMS TO DRIVE MARKET GROWTH
TABLE 28 RESIDENTIAL: MARKET, BY REGION, 2020–2027 (USD MILLION)
8.3 AUTOMOTIVE
8.3.1 GROWING ADOPTION OF ELECTRIC VEHICLES AS NEW MODE OF TRANSPORTATION TO FUEL DEMAND FOR VEHICLE INVERTERS
TABLE 29 AUTOMOTIVE: MARKET, BY REGION, 2020–2027 (USD MILLION)
8.4 PHOTOVOLTAIC (PV) PLANTS
8.4.1 INCREASING RENEWABLE ENERGY POLICIES IN SEVERAL COUNTRIES TO FUEL MARKET GROWTH
TABLE 30 PHOTOVOLTAIC (PV) PLANT: MARKET, BY REGION, 2020–2027 (USD MILLION)
8.5 OTHERS
TABLE 31 OTHERS: MARKET, BY REGION, 2020–2027 (USD MILLION)
9 INVERTER MARKET, BY TYPE (Page No. - 97)
9.1 INTRODUCTION
FIGURE 40 INVERTER MARKET SHARE, BY TYPE, 2021
TABLE 32 MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 33 MARKET, BY TYPE, 2020–2027 (THOUSAND UNITS)
9.2 SOLAR INVERTER
TABLE 34 SOLAR INVERTER: MARKET, BY TYPE, 2020–2027 (USD MILLION)
9.2.1 CENTRAL INVERTER
9.2.1.1 Rising demand for central inverters in PV plants to drive market growth
TABLE 35 CENTRAL INVERTER: MARKET, BY REGION, 2020–2027 (USD MILLION)
9.2.2 STRING INVERTER
9.2.2.1 Rising installation of solar panels in residential and commercial sectors to boost market growth
TABLE 36 STRING INVERTER: MARKET, BY REGION, 2020–2027 (USD MILLION)
9.2.3 MICRO-INVERTER
9.2.3.1 Increasing demand for micro-inverters in residential sector to fuel market growth
TABLE 37 MICRO-INVERTER: MARKET, BY REGION, 2020–2027 (USD MILLION)
9.2.4 HYBRID INVERTER
9.2.4.1 High-performance feature of hybrid inverters is driving market growth
TABLE 38 HYBRID INVERTER: MARKET, BY REGION, 2020–2027 (USD MILLION)
9.3 VEHICLE INVERTER
TABLE 39 VEHICLE INVERTER: MARKET, BY TYPE, 2020–2027 (USD MILLION)
9.3.1 BATTERY ELECTRIC VEHICLE (BEV)
9.3.1.1 Favorable government policies regarding EV vehicles globally to drive market growth
TABLE 40 BATTERY ELECTRIC VEHICLE: MARKET, BY REGION, 2020–2027 (USD MILLION)
9.3.2 HYBRID ELECTRIC VEHICLE (HEV)
9.3.2.1 Multi-functional program in hybrid electric vehicles to drive market growth
TABLE 41 HYBRID ELECTRIC VEHICLE: MARKET, BY REGION, 2020–2027 (USD MILLION)
9.3.3 PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV)
9.3.3.1 Increasing demand for EV vehicles to fuel market growth
TABLE 42 PLUG-IN HYBRID ELECTRIC VEHICLE: MARKET, BY REGION, 2020–2027 (USD MILLION)
9.4 OTHERS
TABLE 43 OTHERS: MARKET, BY REGION, 2020–2027 (USD MILLION)
10 INVERTER MARKET, BY CONNECTION TYPE (Page No. - 107)
10.1 INTRODUCTION
FIGURE 41 MARKET SHARE, BY CONNECTION TYPE, 2021
TABLE 44 MARKET, BY CONNECTION TYPE, 2020–2027 (USD MILLION)
10.2 STANDALONE
10.2.1 INCREASING RURAL ELECTRIFICATION PROGRAMS IN SEVERAL REGIONS TO BOOST MARKET GROWTH
TABLE 45 STANDALONE: MARKET, BY REGION, 2020–2027 (USD MILLION)
10.3 GRID-TIED
10.3.1 GOVERNMENT-LED INITIATIVES TO INCREASE SOLAR ENERGY GENERATION TO DRIVE GROWTH OF GRID-TIED MARKET
TABLE 46 MARKET, BY GRID-TIED, 2020–2027 (USD MILLION)
10.3.2 CONVENTIONAL INVERTER
10.3.2.1 Rise in installation of solar pv systems in residential and commercial sectors to drive market growth
TABLE 47 CONVENTIONAL INVERTER: MARKET, BY REGION, 2020–2027 (USD MILLION)
10.3.3 SMART INVERTER
10.3.3.1 Technological advancements in grid-tied inverters to drive market growth
TABLE 48 SMART INVERTER: MARKET, BY REGION, 2020–2027 (USD MILLION)
11 INVERTER MARKET, BY SALES CHANNEL (Page No. - 112)
11.1 INTRODUCTION
FIGURE 42 INVERTER MARKET SHARE, BY SALES CHANNEL, 2021
TABLE 49 MARKET, BY SALES CHANNEL, 2020–2027 (USD MILLION)
11.2 DIRECT SALES CHANNEL
11.2.1 RISING PREFERENCE FOR DIRECTLY PROCURING VEHICLE INVERTERS AMONG AUTOMOBILE MANUFACTURERS TO DRIVE MARKET GROWTH
TABLE 50 DIRECT SALES CHANNEL: MARKET, BY REGION, 2020–2027 (USD MILLION)
11.3 INDIRECT SALES CHANNEL
11.3.1 INCREASING SALE OF INVERTERS IN RESIDENTIAL SECTOR AND PV PLANTS THROUGH INDIRECT CHANNELS TO DRIVE MARKET GROWTH
TABLE 51 INDIRECT SALES CHANNEL: MARKET, BY REGION, 2020–2027 (USD MILLION)
12 INVERTER MARKET, BY REGION (Page No. - 115)
12.1 INTRODUCTION
FIGURE 43 INVERTER MARKET, BY REGION, 2021 (%)
FIGURE 44 ASIA PACIFIC MARKET TO REGISTER HIGHEST CAGR FROM 2022 TO 2027
TABLE 52 MARKET, BY REGION, 2020–2027 (USD MILLION)
TABLE 53 MARKET, BY REGION, 2020–2027 (THOUSAND UNITS)
12.2 ASIA PACIFIC
FIGURE 45 SNAPSHOT: MARKET IN ASIA PACIFIC
12.2.1 BY OUTPUT POWER RATING
TABLE 54 ASIA PACIFIC: MARKET, BY OUTPUT POWER RATING, 2020–2027 (USD MILLION)
12.2.2 BY OUTPUT VOLTAGE
TABLE 55 ASIA PACIFIC: MARKET, BY OUTPUT VOLTAGE, 2020–2027 (USD MILLION)
12.2.3 BY END USER
TABLE 56 ASIA PACIFIC: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.2.4 BY TYPE
TABLE 57 ASIA PACIFIC: MARKET, BY TYPE, 2020–2027 (USD MILLION)
12.2.5 BY CONNECTION TYPE
TABLE 58 ASIA PACIFIC: MARKET, BY CONNECTION TYPE, 2020–2027 (USD MILLION)
12.2.6 BY SALES CHANNEL
TABLE 59 ASIA PACIFIC: MARKET, BY SALES CHANNEL, 2020–2027 (USD MILLION)
12.2.7 BY COUNTRY
TABLE 60 ASIA PACIFIC: MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
12.2.7.1 China
12.2.7.1.1 Rising electricity demand in various sectors and presence of favorable government policies to fuel demand for solar inverters
TABLE 61 CHINA: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.2.7.2 India
12.2.7.2.1 Rise in number of solar rooftop installations and increasing Power Shortage to fuel demand for Inverters in India
TABLE 62 INDIA: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.2.7.3 Australia
12.2.7.3.1 Presence of favorable government policies for solar energy generation to boost growth of solar inverter market in Australia
TABLE 63 AUSTRALIA: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.2.7.4 Japan
12.2.7.4.1 Increasing investments in residential and PV utility-scale sectors to drive market growth
TABLE 64 JAPAN: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.2.7.5 Rest of Asia Pacific
TABLE 65 REST OF ASIA PACIFIC: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.3 NORTH AMERICA
FIGURE 46 SNAPSHOT: MARKET IN NORTH AMERICA
12.3.1 BY OUTPUT POWER RATING
TABLE 66 NORTH AMERICA: MARKET, BY OUTPUT POWER RATING, 2020–2027 (USD MILLION)
12.3.2 BY OUTPUT VOLTAGE
TABLE 67 NORTH AMERICA: MARKET, BY OUTPUT VOLTAGE, 2020–2027 (USD MILLION)
12.3.3 BY END USER
TABLE 68 NORTH AMERICA: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.3.4 BY TYPE
TABLE 69 NORTH AMERICA: MARKET, BY TYPE, 2020–2027 (USD MILLION)
12.3.5 BY CONNECTION TYPE
TABLE 70 NORTH AMERICA: MARKET, BY CONNECTION TYPE, 2020–2027 (USD MILLION)
12.3.6 BY SALES CHANNEL
TABLE 71 NORTH AMERICA: MARKET, BY SALES CHANNEL, 2020–2027 (USD MILLION)
12.3.7 BY COUNTRY
TABLE 72 NORTH AMERICA: MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
12.3.7.1 US
12.3.7.1.1 Increasing developments in solar energy field and favorable government policies to drive growth of solar inverter market in US
TABLE 73 US: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.3.7.2 Canada
12.3.7.2.1 Rise in residential PV installations and supportive government policies to drive market growth
TABLE 74 CANADA: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.3.7.3 Mexico
12.3.7.3.1 Increased deployment of clean energy sources in Mexico to fuel market growth
TABLE 75 MEXICO: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.4 EUROPE
12.4.1 BY OUTPUT POWER RATING
TABLE 76 EUROPE: MARKET, BY OUTPUT POWER RATING, 2020–2027 (USD MILLION)
12.4.2 BY OUTPUT VOLTAGE
TABLE 77 EUROPE: MARKET, BY OUTPUT VOLTAGE, 2020–2027 (USD MILLION)
12.4.3 BY END USER
TABLE 78 EUROPE: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.4.4 BY TYPE
TABLE 79 EUROPE: MARKET, BY TYPE, 2020–2027 (USD MILLION)
12.4.5 BY CONNECTION TYPE
TABLE 80 EUROPE: MARKET, BY CONNECTION TYPE, 2020–2027 (USD MILLION)
12.4.6 BY SALES CHANNEL
TABLE 81 EUROPE: MARKET, BY SALES CHANNEL, 2020–2027 (USD MILLION)
12.4.7 BY COUNTRY
TABLE 82 EUROPE: MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
12.4.7.1 Germany
12.4.7.1.1 Growing automotive industry and rising adoption of renewable energy to drive market growth in Germany
TABLE 83 GERMANY: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.4.7.2 UK
12.4.7.2.1 Increasing investments in battery production and solar power generation to drive market growth
TABLE 84 UK: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.4.7.3 ITALY
12.4.7.3.1 Rising establishment of large-scale PV plants to fuel market growth
TABLE 85 ITALY: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.4.7.4 France
12.4.7.4.1 Rising demand for solar inverters in PV plants to propel market growth
TABLE 86 FRANCE: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.4.7.5 Spain
12.4.7.5.1 Expanding automotive industry to drive market growth
TABLE 87 SPAIN: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.4.7.6 Rest of Europe
TABLE 88 REST OF EUROPE: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.5 MIDDLE EAST & AFRICA
12.5.1 BY OUTPUT POWER RATING
TABLE 89 MIDDLE EAST & AFRICA: MARKET, BY OUTPUT POWER RATING, 2020–2027 (USD MILLION)
12.5.2 BY OUTPUT VOLTAGE
TABLE 90 MIDDLE EAST & AFRICA: MARKET, BY OUTPUT VOLTAGE, 2020–2027 (USD MILLION)
12.5.3 BY END USER
TABLE 91 MIDDLE EAST & AFRICA: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.5.4 BY TYPE
TABLE 92 MIDDLE EAST & AFRICA: MARKET, BY TYPE, 2020–2027 (USD MILLION)
12.5.5 BY CONNECTION TYPE
TABLE 93 MIDDLE EAST & AFRICA: MARKET, BY CONNECTION TYPE, 2020–2027 (USD MILLION)
12.5.6 BY SALES CHANNEL
TABLE 94 MIDDLE EAST & AFRICA: MARKET, BY SALES CHANNEL, 2020–2027 (USD MILLION)
12.5.7 BY COUNTRY
TABLE 95 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
12.5.7.1 Saudi Arabia
12.5.7.1.1 Increasing power generation from solar resources to fuel demand for inverters
TABLE 96 SAUDI ARABIA: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.5.7.2 UAE
12.5.7.2.1 Rising efforts to develop electricity sector to create demand for inverters in UAE
TABLE 97 UAE: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.5.7.3 South Africa
12.5.7.3.1 Expanding automotive industry and development of PV plants to fuel growth of inverter market in South Africa
TABLE 98 SOUTH AFRICA: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.5.7.4 Rest of Middle East & Africa
TABLE 99 REST OF MIDDLE EAST & AFRICA: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.6 SOUTH AMERICA
12.6.1 BY OUTPUT POWER RATING
TABLE 100 SOUTH AMERICA: MARKET, BY OUTPUT POWER RATING, 2020–2027 (USD MILLION)
12.6.2 BY OUTPUT VOLTAGE
TABLE 101 SOUTH AMERICA: MARKET, BY OUTPUT VOLTAGE, 2020–2027 (USD MILLION)
12.6.3 BY END USER
TABLE 102 SOUTH AMERICA: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.6.4 BY TYPE
TABLE 103 SOUTH AMERICA: MARKET, BY TYPE, 2020–2027 (USD MILLION)
12.6.5 BY CONNECTION TYPE
TABLE 104 SOUTH AMERICA: MARKET, BY CONNECTION TYPE, 2020–2027 (USD MILLION)
12.6.6 BY SALES CHANNEL
TABLE 105 SOUTH AMERICA: MARKET, BY SALES CHANNEL, 2020–2027 (USD MILLION)
12.6.7 BY COUNTRY
TABLE 106 SOUTH AMERICA: MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
12.6.7.1 Brazil
12.6.7.1.1 Increasing investments in solar energy technology to propel demand for inverters in Brazil
TABLE 107 BRAZIL: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.6.7.2 Argentina
12.6.7.2.1 Government support to promote solar energy renewables to fuel market growth
TABLE 108 ARGENTINA: MARKET, BY END USER, 2020–2027 (USD MILLION)
12.6.7.3 Rest of South America
TABLE 109 REST OF SOUTH AMERICA: MARKET, BY END USER, 2020–2027 (USD MILLION)
13 COMPETITIVE LANDSCAPE (Page No. - 151)
13.1 KEY PLAYER’S STRATEGIES/RIGHT TO WIN
TABLE 110 OVERVIEW OF STRATEGIES ADOPTED BY TOP PLAYERS, JANUARY 2019 – MARCH 2022
13.2 MARKET SHARE ANALYSIS OF TOP FIVE PLAYERS
TABLE 111 MARKET: DEGREE OF COMPETITION
FIGURE 47 MARKET SHARE ANALYSIS, 2021
13.3 REVENUE ANALYSIS OF TOP 5 MARKET PLAYERS
FIGURE 48 TOP PLAYERS IN MARKET FROM 2017 TO 2021
13.4 COMPANY EVALUATION QUADRANT
13.4.1 STAR
13.4.2 PERVASIVE
13.4.3 EMERGING LEADER
13.4.4 PARTICIPANT
FIGURE 49 MARKET (GLOBAL) COMPANY EVALUATION MATRIX, 2021
13.5 STARTUP/SME EVALUATION QUADRANT, 2021
13.5.1 PROGRESSIVE COMPANY
13.5.2 RESPONSIVE COMPANY
13.5.3 DYNAMIC COMPANY
13.5.4 STARTING BLOCK
FIGURE 50 MARKET: STARTUP/SME EVALUATION QUADRANT, 2021
13.5.5 COMPETITIVE BENCHMARKING
TABLE 112 MARKET: DETAILED LIST OF KEY STARTUPS/SMES
TABLE 113 MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
13.6 INVERTER MARKET: COMPANY FOOTPRINT
TABLE 114 TYPE: COMPANY FOOTPRINT
TABLE 115 OUTPUT POWER RATING: COMPANY FOOTPRINT
TABLE 116 BY END USER: COMPANY FOOTPRINT
TABLE 117 REGION: COMPANY FOOTPRINT
TABLE 118 COMPANY FOOTPRINT
13.7 COMPETITIVE SCENARIO
TABLE 119 MARKET: NEW PRODUCT LAUNCHES, SEPTEMBER 2019–JANUARY 2022
TABLE 120 MARKET: DEALS, NOVEMBER 2019–MARCH 2022
TABLE 121 MARKET: OTHERS, NOVEMBER 2021–APRIL 2022
14 COMPANY PROFILES (Page No. - 169)
14.1 KEY PLAYERS
(Business and financial overview, Products/solutions/services offered, Recent Developments, MNM view)*
14.1.1 HUAWEI TECHNOLOGIES
TABLE 122 HUAWEI TECHNOLOGIES: BUSINESS OVERVIEW
FIGURE 51 HUAWEI TECHNOLOGIES: COMPANY SNAPSHOT, 2021
TABLE 123 HUAWEI TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 124 HUAWEI TECHNOLOGIES: PRODUCT LAUNCHES
TABLE 125 HUAWEI TECHNOLOGIES: DEALS
TABLE 126 HUAWEI TECHNOLOGIES: OTHERS
14.1.2 SUNGROW POWER SUPPLY CO., LTD
TABLE 127 SUNGROW POWER SUPPLY CO., LTD: BUSINESS OVERVIEW
FIGURE 52 SUNGROW POWER SUPPLY CO., LTD: COMPANY SNAPSHOT, 2021
TABLE 128 SUNGROW POWER SUPPLY CO., LTD: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 129 SUNGROW POWER SUPPLY CO., LTD: PRODUCT LAUNCHES
TABLE 130 SUNGROW POWER SUPPLY CO., LTD: DEALS
TABLE 131 SUNGROW POWER SUPPLY CO., LTD: OTHERS
14.1.3 SMA SOLAR TECHNOLOGY AG
TABLE 132 SMA SOLAR TECHNOLOGY AG: BUSINESS OVERVIEW
FIGURE 53 SMA SOLAR TECHNOLOGY AG: COMPANY SNAPSHOT, 2021
TABLE 133 SMA SOLAR TECHNOLOGY AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 134 SMA SOLAR TECHNOLOGY AG: PRODUCT LAUNCHES
TABLE 135 SMA SOLAR TECHNOLOGY AG: DEALS
TABLE 136 SMA SOLAR TECHNOLOGY AG: OTHERS
14.1.4 POWER ELECTRONICS
TABLE 137 POWER ELECTRONICS: BUSINESS OVERVIEW
TABLE 138 POWER ELECTRONICS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 139 POWER ELECTRONICS: PRODUCT LAUNCHES
14.1.5 FIMER
TABLE 140 FIMER: BUSINESS OVERVIEW
TABLE 141 FIMER: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 142 FIMER: PRODUCT LAUNCHES
TABLE 143 FIMER: DEALS
TABLE 144 FIMER: OTHERS
14.1.6 SOLAREDGE TECHNOLOGIES
TABLE 145 SOLAREDGE TECHNOLOGIES: COMPANY OVERVIEW
FIGURE 54 SOLAREDGE TECHNOLOGIES: COMPANY SNAPSHOT, 2021
TABLE 146 SOLAREDGE TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 147 SOLAREDGE TECHNOLOGIES: PRODUCT LAUNCHES
14.1.7 FRONIUS INTERNATIONAL
TABLE 148 FRONIUS INTERNATIONAL: BUSINESS OVERVIEW
TABLE 149 FRONIUS INTERNATIONAL: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 150 FRONIUS INTERNATIONAL: PRODUCT LAUNCHES
TABLE 151 FRONIUS INTERNATIONAL: DEALS
14.1.8 ALTENERGY POWER SYSTEM
TABLE 152 ALTENERGY POWER SYSTEM: COMPANY OVERVIEW
TABLE 153 ALTENERGY POWER SYSTEM: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 154 ALTENERGY POWER SYSTEM: PRODUCT LAUNCHES
14.1.9 ENPHASE ENERGY
TABLE 155 ENPHASE ENERGY: COMPANY OVERVIEW
FIGURE 55 ENPHASE ENERGY: COMPANY SNAPSHOT, 2021
TABLE 156 ENPHASE ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 157 ENPHASE ENERGY: PRODUCT LAUNCHES
TABLE 158 ENPHASE ENERGY: DEALS
14.1.10 DARFON ELECTRONICS CORPORATION
TABLE 159 DARFON ELECTRONICS CORPORATION: COMPANY OVERVIEW
FIGURE 56 DAFRON ELECTRONICS: COMPANY SNAPSHOT, 2020
TABLE 160 DARFON ELECTRONICS CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 161 DARFON ELECTRONICS CORPORATION: PRODUCT LAUNCHES
14.1.11 SCHNEIDER ELECTRIC
TABLE 162 SCHNEIDER ELECTRIC: BUSINESS OVERVIEW
FIGURE 57 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT, 2021
TABLE 163 SCHNEIDER ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 164 SCHNEIDER ELECTRIC: DEALS
TABLE 165 SCHNEIDER ELECTRIC: OTHERS
14.1.12 GENERAL ELECTRIC
TABLE 166 GENERAL ELECTRIC: COMPANY OVERVIEW
FIGURE 58 GENERAL ELECTRIC: COMPANY SNAPSHOT, 2021
TABLE 167 GENERAL ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 168 GENERAL ELECTRIC: PRODUCT LAUNCHES
TABLE 169 GENERAL ELECTRIC: OTHERS
14.1.13 DELTA ELECTRONICS
TABLE 170 DELTA ELECTRONICS: COMPANY OVERVIEW
FIGURE 59 DELTA ELECTRONICS: COMPANY SNAPSHOT, 2020
TABLE 171 DELTA ELECTRONICS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 172 DELTA ELECTRONICS: PRODUCT LAUNCHES
TABLE 173 DELTA ELECTRONICS: DEALS
TABLE 174 DELTA ELECTRONICS OTHERS
*Details on Business and financial overview, Products/solutions/services offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
14.2 OTHER PLAYERS
14.2.1 CONTINENTAL
14.2.2 DELPHI TECHNOLOGIES
14.2.3 SENSATA TECHNOLOGIES
14.2.4 SAMLEX EUROPE
14.2.5 BESTEK
14.2.6 GOODWE
14.2.7 TMEIC
14.2.8 YASKAWA SOLECTRIA SOLAR
14.2.9 KACO NEW ENERGY
14.2.10 GROWATT NEW ENERGY
14.2.11 TBEA XINJIANG SUNOASIS
15 APPENDIX (Page No. - 216)
15.1 INSIGHTS OF INDUSTRY EXPERTS
15.2 DISCUSSION GUIDE
15.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
15.4 AVAILABLE CUSTOMIZATIONS
15.5 RELATED REPORTS
15.6 AUTHOR DETAILS
The study involved major activities in estimating the current size of the global inverter market. Exhaustive secondary research was done to collect information on the peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of the segments and subsegments.
Secondary Research
This research study on the inverter market involved the use of extensive secondary sources, directories, and databases, such as Hoovers, Bloomberg, Businessweek, Factiva, International Energy Agency, and BP Statistical Review of World Energy, to identify and collect information useful for a technical, market-oriented, and commercial study of the global inverter market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.
Primary Research
The inverter market `comprises several stakeholders such as inverter manufacturers, manufacturing technology providers, and technology support providers in the supply chain. The demand side of this market is characterized by the rising demand for inverters in residential, automotive, photovoltaic (PV) plants, commerical, industrial, and utility end users. The supply side is characterized by rising demand for contracts from the industrial sector, and mergers & acquisitions among big players. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakdown of primary respondents:
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the global inverter market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and market have been identified through extensive secondary research, and their market share in the respective regions have been determined through both primary and secondary research.
- The industry’s value chain and market size, in terms of value, have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Global Inverter Market Size: Bottom-Up Approach
To know about the assumptions considered for the study, Request for Free Sample Report
Data Triangulation
After arriving at the overall market size from the estimation process explained above, the total market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments, the data triangulation and market breakdown processes have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand- and supply sides. Along with this, the market has been validated using both the top-down and bottom-up approaches.
Objectives of the Study
- To define, describe, segment, and forecast the inverter market size based on inverter type, output power rating, output voltage, sales channel, connection type, and end user
- To provide detailed information on the major drivers, restraints, opportunities, and industry-specific challenges influencing the growth of the market
- To strategically analyze the market with respect to individual growth trends, prospects, and contributions of each segment to the market
- To analyze market opportunities for stakeholders and provide a detailed competitive landscape for market leaders
- To forecast the revenue of the market segments with respect to 5 main regions (along with countries), namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa
- To strategically profile key players and comprehensively analyze their market ranking and core competencies
- To track and analyze competitive developments such as new product developments, contracts & agreements, investments & expansions, and mergers & acquisitions in the inverter market
Available Customizations:
With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:
Geographic Analysis
- Further breakdown of region or country-specific analysis
Company Information
- Detailed analyses and profiling of additional market players (up to 5)
Generating Response ...
Growth opportunities and latent adjacency in Inverter Market