Global PV Inverters Market to reach USD 17.6 billion by 2025 | CAGR: 14.3%
Global PV Inverters Market is valued at USD 5.3 billion in 2016 is anticipated to grow USD 17.6 billion with the compounded annual growth of 14.3% over the forecast period 2017-2025.
New York 29 May 2018, As per the new research study conducted by Bizwit Research & Consulting, Global PV Inverters industry is poised to raise USD 17.6 billion by 2025 Growing awareness towards the use of renewable energy sources across the world that have led to the large-scale adoption of solar photovoltaic (PV) installations. The rising affordability of energy storage devices creates ample opportunities for the market. Moreover, Government also setting targets and introducing policies for promoting renewable energy as well as to reduce carbon emissions. Increasing awareness regarding fossil fuel conservation and clean fuel demand will complement the industry growth To view the summary or to request a sample copy of this report, please click the link mentioned below:
Global PV Inverters Market Size Estimates and Forecasts, By Application (Residential, Commercial & Industrial, Utility Scale), By Type (Central Inverter, String Inverter, Micro Inverter, Others) and by Region (North America, Europe, Asia Pacific, and Rest of the World) 2017-2025
The industry is seeming to be fairly competitive. Some of the leading market players include ABB Ltd (Switzerland), SMA Solar Technology AG (Germany), Canadian Solar Inc. (Canada), SolarEdge Technologies Inc. (Israel), SunPower Corporation (U.S.), Delta Electronics, Inc. (Taiwan), Solectria Renewables, LLC (U.S.), Sineng Electric Co., Ltd. (China), Hitachi Hi-Rel Power Electronics Pvt. Ltd (India), and Power Electronics (Spain). New product launches, acquisitions, and mergers are some of the strategies adopted by the key manufacturers. Additionally, the fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- The North America region estimated for dominating the PV Inverters market during the forecast period.
- The North America region will be the highest growing segment with respect to geographical segmentation by around XX%
- Industrial segment was the second largest end-user industry for the PV Inverters market
- Asia PacificPV Inverters market is estimated to grow at the highest CAGR during the forecast period.
Bizwit Research & Consulting LLP has considered the following segments for the study:
- By Application
- Commercial & Industrial
- Utility Scale
- By Type
- Central Inverters
- String Inverters
- Micro Inverters
- North America
- Asia Pacific
- Rest of the World