Photovoltaic (PV) Inverter Market Is Poised To Achieve Continuing Growth During Forecast Period 2020-2026 | Schneider Electric, Panasonic Corp., Furukawa Battery Co., Ltd., REFU Elektronik GmbH

The Photovoltaic (PV) Inverter Market is expected to grow to USD 9.97 Billion in 2026, at a CAGR of 3.7%. The global market share of PV inverters will be driven by favorable government initiatives to promote renewable energy and large - scale investments in sustainable grid integration. Monetary financing and various government schemes, including net metering, feed tariffs to support the creation of innovative projects and the development of advanced technologies, will further increase growth in the industry.

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The significant players in the market are Schneider Electric (France), Panasonic Corp. (Japan), Furukawa Battery Co., Ltd. (China), REFU Elektronik GmbH (Germany), SatCon Technology Corp. (US), Delta Group (Taiwan), Chint Group Co. Ltd. (China), Fronious International GmbH (Austia), Emerson Electric (US), ABB (Switzerland), General Electric (US).

The decreasing cost of solar components and increased operational efficiency have increased solar systems, which in turn will drive the growth of the global photovoltaic inverter market. The improvement of primitive technologies in conjunction with volume production practices has led to a significant reduction in the overall price of components. In addition, the industry's landscape will be further enhanced by strict government standards to curb GHG emissions favored by rising electricity demand.

Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the market on the basis of connectivity, product, application, power class, nominal output power and nominal output voltage.

Power Class (Revenue, USD Million; 2016-2026)
o Single Phase
o Three Phase

Connectivity (Revenue, USD Million; 2016-2026)
o Stand-alone
o On-grid

Product (Revenue, USD Million; 2016-2026)
o Micro
o String
o Central

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Region (Revenue, USD Million; 2016-2026)
o North America (United States, Canada and Mexico)
o Europe (Germany, France, UK, Russia and Italy)
o Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
o South America (Brazil, Argentina, Colombia)

Further key findings from the report suggest
o The Photovoltaic (PV) Inverter market is expected to grow to USD 9.97 Billion in 2026, at a CAGR of 3.7%. The global market share of PV inverters will be driven by favorable government initiatives to promote renewable energy and large - scale investments in sustainable grid integration.
o On the basis of power class, the three-phase units are expected to have the largest market share during the forecast period. Due to their efficient operation in large-capacity industrial installations and transmission networks, three-phase units have a significant share of revenue. In addition, the increasing demand for reliability of power across industries, including mining and oil and gas, will further increase the demand for products.
o On the basis of nominal output power, the market share of photovoltaic inverters of 300 W is expected to grow strongly due to their use, which is favored by lower product costs in small - scale solar photovoltaic applications. Improving unit efficiencies and increasing flexibility in operation will increase product demand. In addition, the growing demand for cost - effective and cost - effective photovoltaic installations will complement the business outlook in line with increasing off - grid deployment.
o Photovoltaic inverters on the solar grid market are expected to gain more than 9.4% by 2026. Current electrification programs and favourable government initiatives to improve the deployment of sustainable electricity infrastructure connected to the grid will further stimulate the business outlook.
o The market for residential photovoltaic inverters is expected to grow by 2026 at a rate of more than 10%. The global industry outlook will be favoured by the electrification program in developing countries focusing on decentralized generation and the rapid advancement of distributed generation technologies.
o Asia Pacific led the market in 2018 with more than 52% of the market share. This can be directly attributed to the commissioning of several solar farms in the region, particularly in China and India, on a network scale. In driving solar power installations in the region, government subsidies and purchase incentives played the main role.

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