New York City, 14 Jan 2019: Global solar inverters / PV inverters market is expected to grow from USD 5.32 billion in 2017 to USD 25.86 billion by 2026, at a CAGR of 16.1% during the forecast period, according to research report.
Inverter technologies is constantly going under technological
upgradations thus promising better grid support and sophisticated system
optimization, the market is expected to reach its zenith during the forecast
period. Solar inverters are generally selected on the basis of array size and
AC grid inter-tie. Countless modifications regarding design such as grid-tie
inverters, stand alone inverters and backup inverters are designed upon their
application. The residential and commercial construction activities are
recovering globally, this end-user segment is expected to hold vital
considerations for the growth of the solar inverters market
The report provides
an extensive qualitative and quantitative analysis of the market trends and
growth prospects of the Global Solar Inverters Market, 2018-2026. This report comprises a
detailed geographic distribution of the market across North America, Europe,
APAC and South America, and MEA. North America is further segmented into U.S.,
Canada. Europe is divided into Germany, UK, Italy, and Rest of Europe.
Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
Competitive Landscape
The global solar inverters market is a concentrated market with
the presence of limited multinationals and national players. Asia Pacific
market generated the highest demand in 2017. This was primarily due to the
increasing demand renewable energy sources in China as well as growing number
of photovoltaic solar plants in the country. Additionally, depleting natural
energy sources as well as deteriorating air quality has forced the government
to take actions and curb emission of harmful gasses. Apart from China, Japan
and South Korea, Indian which is rapidly becoming a major consumer of solar
inverters in the region is also expected to generate substantial demand.
European nations such as Germany, France, UK and Italy are anticipated to be
some of the leading nations to generate substantial demand by 2026 in the
region. North America is yet another potential industry in terms of production
as well as consumption of solar inverters.
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