openPR Logo
Press release

Photovoltaic (PV) Inverter Market annual installations to exceed 100 GW by 2024 Top Key Players – Technology, Sungrow Power Supply Co., Ltd., Enphase Energy, Schneider Electric, Tabuchi Electric Co., Ltd., Elettronica Santerno

10-27-2018 06:20 AM CET | Energy & Environment

Press release from: Global Market Insights, Inc.

Photovoltaic (PV) Inverter Market annual installations

The ongoing transformation in the global energy mix for a greener future has had a highly positive influence on photovoltaic (PV) inverter market. In the last few years, the installation of renewable energy facilities has been increasing on a large scale across the globe for reducing the dependency on non-renewable energy sources such as fossil fuels and nuclear energy. In addition, the growing concern among the regulatory bodies about the adverse impact of non-renewables on biodiversity has been increasing consistently, stimulating PV inverter industry trends. In this regard, many regional governments have been joining hands with product suppliers for deploying photovoltaic inverters across several regions on a large scale. In addition, they are implementing numerous renewable energy policies as well, for promoting the adoption of green energy.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/234

OLC Energy Services-SMA Solar Technology deal gains ground in Namibia PV inverter market

Heavy investments are being made in the development of solar power plants across myriad geographies lately, generating lucrative opportunities for the players in photovoltaic inverter market. In this regard, for amassing a substantial remuneration and extending their regional reach, industry contenders have been intensively adopting new business strategies such as product enhancement and JVs. In fact, most of the local energy companies are dealing with global energy contributors to deploy renewable energy grids extensively.

Validating the aforementioned fact, in Namibia, a joint venture renewable company, OLC Energy Services has recently collaborated with a leading contributor of solar inverters, SMA Solar Technology which has been developing a wide range of advanced products for commercial as residential PV systems. With this partnership, OLC Energy Services will tap the expertise of this leading inverter manufacturer for the distribution and technical services of PV systems. Additionally, through this JV, both companies plan to increase the dependency of Namibia on renewable energy facilities. Reportedly, the Namibia government has already developed renewable energy projects of 55 MW and is currently developing a further 121 MW capacity worth of renewables.

ABB’s contribution toward PV inverter industry

The rapid evolution in traditional inverters which are prominently deployed in commercial as well as residential applications is considerably influencing PV inverter industry trends. With the help of emerging technologies such as IoT and AI, many of the giants in photovoltaic inverter market are trying to improve the product quality and ease of usage. For instance, the world’s leading manufacturer of PV inverters, ABB has recently developed a range of smart inverters with the assistance of the Internet of Things. The newly invented software embedded in the inverters can be operated remotely with the help of smart devices, which offers cost-effectiveness in advanced monitoring and control. ABB’s involvement in enhancing product design and development depicts the efforts put in by industry leaders in the development of next-generation products, that is certain to fuel photovoltaic (PV) inverter industry share over the years ahead.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/234

In the last few years, ABB has received many contracts across myriad geographies to install PV inverters. In 2017, the Indian Railway awarded a contract to ABB for installing solar invertors at 750 rail stations located in the Northern region of India. Currently, it has installed solar inverters of approximately 5 GW capacity across India. The surging acceptance of solar inverters across the Indian transportation sector is certain to impel the growth of the regional photovoltaic inverter market.

In addition to India, ABB also has also been installing its central inverter solutions in Jordan. The firm has collaborated with the leading utility-scale solar developer, FRV to supply central inverter solutions to solar power plants-based in the Mafraq region of Jordan. ABB’s move further validates that the commitment of leading contributors in photovoltaic inverter market toward the generation of greener and cost-effective sustainable energy products is poised to augment PV inverter market trends.

Browse key industry insights spread across 480 pages with 968 market data tables & 16 figures & charts from the report @ https://www.gminsights.com/industry-analysis/pv-inverter-market

Eminent industry players operating in the PV inverter industry comprise of Sungrow, SMA Solar, Enphase Energy, Tabuchi, Schneider Electric, Elettronica Santerno, Panasonic, TMEIC, Furukawa, Shenzhen, Growatt, REFU Elektronik, Solar Edge, Delta, SatCon, Sineng, Chint, TBEA, Omron, Fronious International, Samil Power, KACO New Energy, Emerson Electric, SolarMax, ABB, General Electric, Huawei.

The increasing reliability of renewables such as solar, wind, and hydropower plants across the globe for fulfilling energy needs is likely to enhance the industry growth considerably. The supportive regulatory stance of regional governments for energy transformation across public as well as the private sectors has also been generating lucrative opportunities for OV inverter market contenders. Aided by innovative product development strategies and a supportive regulatory scenario, photovoltaic (PV) inverter market size is expected to generate a revenue of USD 11 billion by the end of 2024.

The U.S. PV inverter market is estimated to grow on account of favorable regulatory reforms towards energy conservation favored by positive consumer inclination towards the integration of sustainable networks will further complement the business outlook. In 2017, the U.S. annual solar installed capacity accounted for over 380 MW in line with the majority projects deployed across Minnesota and Massachusetts.

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: https://gminsights.wordpress.com
Explore Our Blog @ http://algosonline.com/news

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Photovoltaic (PV) Inverter Market annual installations to exceed 100 GW by 2024 Top Key Players – Technology, Sungrow Power Supply Co., Ltd., Enphase Energy, Schneider Electric, Tabuchi Electric Co., Ltd., Elettronica Santerno here

News-ID: 1333154 • Views: 833

More Releases from Global Market Insights, Inc.

Hypochlorite Bleaches Market to hit US$ 300 Mn 2025 | Top Key Players like Adity …
As per the research report by Global Market Insights, Inc., Global Hypochlorite Bleaches Market to cross USD 300 million by 2025 and grow at 3.4% CAGR from 2019 to 2025. It has been projected that the Global hypochlorite bleaches market is expected to reach a consumption of around 485-kilo tons by 2025. Water scarcity as well as rising water costs have led to more emphasis being laid on water recycling and
Feminine Hygiene Products Market: Growing awareness regarding intimate health in …
Global Market Insights, Inc., announces an ongoing comprehensive report on the Feminine Hygiene Products Market. One of the most hushed topics across the world is female hygiene, the negligence of which results in several diseases. Studies claim that nearly 30% to 60 % women across the globe develop urinary tract infection once in their lifetime, mainly due to negligence in proper intimate hygiene. Dearth of knowledge regarding the negative consequences of
Examination Gowns Market 2020 business trends & growth opportunities to 2026
Global Market Insights, Inc., announces an ongoing comprehensive report on the Examination Gowns Market. The exposure to various kinds of hospital acquired infections has led to a spate of health problems for the healthcare professionals as well has the patients. In this regard, experts have been massively shifting to adoption of personal protective equipment or clothing, examination gowns, protecting them from all kinds of infections. These gowns are present in the
Nonwoven Packaging Market to witness increased demand from pharmaceutical sector …
Global Market Insights, Inc., announces an ongoing comprehensive report on the Nonwoven Packaging Market. With the world struggling to fight against negative consequences of industrialization and increased carbon emissions, nonwovens or nonwoven fabrics have emerged as an intrinsic solution for all ecological imbalances across the globe. These fabrics are made from staple fiber and long fibers, merged together by chemical, heat, or mechanical treatment. These are generally used in textile manufacturing

All 5 Releases


More Releases for ABB

Collaborative Robots Market 2018 Global Analysis By Key Players – ABB, Fanuc, …
Summary WiseGuyReports.com adds “Collaborative Robots Market 2018 Global and China Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2023” reports to its database. This report provides in depth study of “Collaborative Robots Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Collaborative Robots Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization
Smart Home Market: Johnson Controls, ABB, Legrand, Samsung Electronics
MarketResearchReports.Biz adds “Global Smart Home Market Share, Size, Trends and Forecast Market Research Report” reports to its database. This report provides a strategic analysis of the Smart Home market and the growth estimates for the forecasted period. This report presents the worldwide Smart Home market size (value, production and consumption), splits the breakdown (data status 2013-2018 and forecast to 2025), by manufacturers, region, type and application. This study also analyzes the market
Global Articulated Robots Market 2018 - ABB, Fanuc, KUKA, Denso Wave
Apex Market Research, recently published a detailed market research study focused on the "Articulated Robots Market" across the global, regional and country level. The report provides 360° analysis of "Articulated Robots Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global Articulated Robots industry, and estimates the future trend of Articulated Robots market
Collaborative Robots Market 2018 Global Analysis By Key Players – ABB, Fanuc, …
Summary WiseGuyReports.com adds “Collaborative Robots Market 2018 Global and China Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2023” reports to its database. This report provides in depth study of “Collaborative Robots Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Collaborative Robots Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an
Busbar Trunking System Market 2017 - ABB, Ltd. (Switzerland), ABB, Ltd. (Switzer …
Market Scenario: Global Busbar Trunking System Market is predicted to grow at approximately 6.5% by 2023. Busbar Trunking is a System consisting of prefabricated electrical distribution system covered in a highly protective enclosure, which basically includes components such as fittings, devices, straight lengths, elbows and accessories. They have wide applications in many industrial and commercial firms to offer ideal, safe, secure and efficient distribution network system. Various industries and multi facilities
Isolators Market 2017- ABB, Eaton., GE
Marketreports.biz, recently published a detailed market research study focused on the "Isolators Market" across the global, regional and country level. The report provides 360° analysis of "Isolators Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global Isolators industry, and estimates the future trend of Isolators market on the basis of this