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Global Solar PV Inverters Market to reach USD XXX billion by the end of 2029

Global Solar PV Inverters Market Size study & Forecast, by Type (Central Inverters, String Inverters, and Micro Inverters), by Application (Residential, Commercial, Industrial, and Utility-scale) and Regional Analysis, 2022-2029

Product Code: EPPGS-14146612
Publish Date: 16-11-2022
Page: 200

Global Solar PV Inverters Market is valued at approximately USD XXX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XXX% over the forecast period 2022-2029. A solar inverter, also known as a PV inverter, is a type of power inverter that converts a photovoltaic solar panel’s variable direct output current into a utility-frequency ac source that can be used by local, off-grid electricity systems or fed into a commercial electricity network. The Solar PV Inverters market is expanding because of factors such as rising pollution concerns, globally and increasing demand for Solar Inverters.

For instance: according to Statista, the average carbon dioxide levels went from 408.72 parts per million, in the year 2018 to 416.45 parts per million, in the year 2021. However, high installation and maintenance costs and lack of awareness regarding the use of inverters in the market may halt market growth. The Solar PV Inverters Market is anticipated to grow further, owing to technological advancements and rapid strategic initiatives by the private players

The key regions considered for the Global Solar PV Inverters Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the space in terms of revenue, owing to rising pollution levels. According to New York Times, the pollution levels in India went to 5.5%, in between 2016 to 2018. North America is expected to grow significantly during the forecast period, owing to recent advancements in solar inverters

Major market players included in this report are:
FIMER SpA
Schneider Electric SE
Siemens AG
Mitsubishi Electric Corporation
Omron Corporation
General Electric Company
SMA Solar Technology AG
Delta Energy Systems Inc.
Enphase Energy Inc
SolarEdge Technologies Inc

Recent Developments in the Market:
 In January 2022, At the World Future Energy Summit in Abu Dhabi, Sungrow unveiled their brand-new “1+X” central modular inverter with an annual output of 1.1MW. This 1+X modular inverter seems to have a DC/ESS interface for attaching energy storage devices and may be divided into eight components to generate 8.8MW of electricity (ESS).
 A solar-plus-storage project in Gujarat, India, with an 18MWh battery energy storage system, received 1 Mega Volt Ampere (MVA) inverter from Fimer Spa, an Italian company that manufactures solar PV inverters, in May 2022. The business provided its converters to the Modhera Integrated Solar Energy Project. Mahindra Susten Pvt., an Indian provider of solar PV engineering, procurement, and construction (EPC) solutions, was the project’s developer. Gujarat Power Corporation Limited, the state’s utility, granted Ltd. (GPCL).
Global Solar PV Inverters Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Application, and Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Central Inverters
String Inverters
Micro Inverters

By Application:
Residential
Commercial
Industrial
Utility-scale

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Solar PV Inverters Market, by Region, 2019-2029 (USD Billion)
1.2.2. Solar PV Inverters Market, by Type, 2019-2029 (USD Billion)
1.2.3. Solar PV Inverters Market, by Application, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Solar PV Inverters Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Solar PV Inverters Market Dynamics
3.1. Solar PV Inverters Market Impact Analysis (2019-2029)
3.1.1. Market Drivers
3.1.1.1. Rising pollution concerns, globally
3.1.1.2. Increasing demand for the Solar Inverters
3.1.2. Market Challenges
3.1.2.1. High installation and maintenance cost
3.1.2.2. Lack of awareness regarding the use of inverters
3.1.3. Market Opportunities
3.1.3.1. Technological advancements
3.1.3.2. Strategic initiatives by the private players
Chapter 4. Global Solar PV Inverters Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Investment Adoption Model
4.5. Analyst Recommendation & Conclusion
4.6. Top investment opportunity
4.7. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Solar PV Inverters Market, by Type
6.1. Market Snapshot
6.2. Global Solar PV Inverters Market by Type, Performance – Potential Analysis
6.3. Global Solar PV Inverters Market Estimates & Forecasts by Type, 2019-2029 (USD Billion)
6.4. Solar PV Inverters Market, Sub Segment Analysis
6.4.1. Central Inverters
6.4.2. String Inverters
6.4.3. Micro Inverters
Chapter 7. Global Solar PV Inverters Market, by Application
7.1. Market Snapshot
7.2. Global Solar PV Inverters Market by Application, Performance – Potential Analysis
7.3. Global Solar PV Inverters Market Estimates & Forecasts by Application, 2019-2029 (USD Billion)
7.4. Solar PV Inverters Market, Sub Segment Analysis
7.4.1. Residential
7.4.2. Commercial
7.4.3. Industrial
7.4.4. Utility-scale
Chapter 8. Global Solar PV Inverters Market, Regional Analysis
8.1. Solar PV Inverters Market, Regional Market Snapshot
8.2. North America Solar PV Inverters Market
8.2.1. U.S. Solar PV Inverters Market
8.2.1.1. Type breakdown estimates & forecasts, 2019-2029
8.2.1.2. Application breakdown estimates & forecasts, 2019-2029
8.2.2. Canada Solar PV Inverters Market
8.3. Europe Solar PV Inverters Market Snapshot
8.3.1. U.K. Solar PV Inverters Market
8.3.2. Germany Solar PV Inverters Market
8.3.3. France Solar PV Inverters Market
8.3.4. Spain Solar PV Inverters Market
8.3.5. Italy Solar PV Inverters Market
8.3.6. Rest of Europe Solar PV Inverters Market
8.4. Asia-Pacific Solar PV Inverters Market Snapshot
8.4.1. China Solar PV Inverters Market
8.4.2. India Solar PV Inverters Market
8.4.3. Japan Solar PV Inverters Market
8.4.4. Australia Solar PV Inverters Market
8.4.5. South Korea Solar PV Inverters Market
8.4.6. Rest of Asia Pacific Solar PV Inverters Market
8.5. Latin America Solar PV Inverters Market Snapshot
8.5.1. Brazil Solar PV Inverters Market
8.5.2. Mexico Solar PV Inverters Market
8.6. Rest of The World Solar PV Inverters Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. SolarEdge Technologies Inc
9.2.1.1. Key Information
9.2.1.2. Overview
9.2.1.3. Financial (Subject to Data Availability)
9.2.1.4. Product Summary
9.2.1.5. Recent Developments
9.2.2. FIMER SpA
9.2.3. Schneider Electric SE
9.2.4. Siemens AG
9.2.5. Mitsubishi Electric Corporation
9.2.6. Omron Corporation
9.2.7. General Electric Company
9.2.8. SMA Solar Technology AG
9.2.9. Delta Energy Systems Inc.
9.2.10. Enphase Energy Inc
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
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In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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