PV Inverters Market is estimated to grow at a CAGR of 14.3% during 2018 to 2025 | Vital Players are Danfoss, OMRON Corporation, Fronius International GmbH, Enphase Energy, KACO new energy, AEO Management Co., SMA SOLAR TECHNOLOGY AG.

PV Inverters Market Size and Growth Rate:
PV Inverters Market was valued at USD 5.3 billion in 2016 and projected to reach USD 17.6 billion by 2025 growing at a CAGR of 14.3% during the forecast period 2018 to 2025.

PV Inverters Market Overview:
A photovoltaic inverter (PV), also known as a solar inverter, is a device that converts the variable DC (CC) output of a photovoltaic panel into an alternating current (AC) frequency. This frequency can be used directly by local or off-grid electricity networks or can be introduced into a commercial network. The photovoltaic inverter is an important element in a photovoltaic system, allowing the direct use of commercial devices.

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PV Inverters Market Growth Drivers and Restraints:
The global demand for energy has increased steadily during the last decade. New forms of energy sources are constantly being explored to meet future demand. As conventional resources are depleted, renewable resources are widely used. Photovoltaic (PV) cells are a source of renewable energy that converts sunlight into electrical energy without any type of thermal or mechanical connection. The UPS industry has experienced a period of intense technical innovation. Investors are a point of convergence for project developers, regulators and investors. However, only a few photovoltaic systems have been integrated into the grid due to their relatively high cost compared to conventional energy sources such as coal, gas, oil, wind, nuclear and hydro. Semiconductor inverters are considered the enabling technology for the installation of photovoltaic systems in the network.

Geographic Insights of PV Inverters Market:
In terms of market volume, the Asia-Pacific region accounted for around 70% of the world market for photovoltaic inverters in 2017, followed by Americas with 19% and the EMEA region with 11%. It is expected that the Asia-Pacific region will continue to lead the global market in terms of market volume at the end of the forecast period. China, the United States and India were the leading countries and, in 2017, they occupied more than 70% of the world market share in terms of installed capacity. China dominated the world market of photovoltaic inverters with 41 GW of facilities in 2017. It had more than 49% of the world market share in 2017. The United States became the second largest market for photovoltaic inverters in 2017, and recorded 13.2 GW. During the year it represented more than 15% of the world market. India ranks third after the United States, with a market volume of 8.07 GW in 2017, which represents almost 9.6% of the world market.

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Key Market Players of PV Inverters Market:
Danfoss, OMRON Corporation, Fronius International GmbH, Enphase Energy, KACO new energy, AEO Management Co., SMA SOLAR TECHNOLOGY AG, and Power-One Inc. are the prominent players of the global PV inverter market.

PV Inverters Market Key Segmentation:
By Type
• Central Inverters
• String Inverters
• Micro Inverters
• Others

By Application
• Residential
• Commercial & Industrial
• Utility Scale

By Region
• North America
• South America
• Europe
• Asia Pacific
• Middle East and Africa

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