Solar Hybrid Inverter Market Growth Accelerating at a Rapid Pace due to Innovative Strategies (2020 - 2028)

A solar hybrid inverter, also called as a multi-mode inverter, is an inverter that can simultaneously manage inputs from solar panels, wind turbines, generators, and a battery bank. The major purpose of the solar hybrid inverter is to convert direct current power generated from the array into the usable alternating current. Solar hybrid inverters can work with batteries to store excess power as well. They store power in batteries and subsequently draw upon the needed requirement of energy stabilization. In residential, commercial, and industrial areas, solar hybrid inverters are widely used for energy back-up during emergencies.

The expansion of industrial, commercial, and utility-scale sectors is the major driver of the solar inverter market. Solar hybrid inverters can usually be installed without batteries for future expansion; this is the biggest advantage, which boosts their demand, globally. In addition, these inverters are safe, environment-friendly, and support sustainable development plans implemented by the government for residential and commercial areas. However, the major restraint of solar hybrid inverter market is that they have less design flexibility than a modular solution in which separate battery inverters have been used. Moreover, solar hybrid inverters are considered less efficient than solar-only or battery-only inverters, which is anticipated to hamper the growth of the solar hybrid invertors market during the forecast period.

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New product launches to flourish the market
Market players have taken necessary steps to improve accuracy of devices and overall functionality as well. Ingeteam, one of the manufacturers of electric power conversion systems, is finalizing the launch of its latest INGECON SUN storage 1 play TLM hybrid inverter in 2020. The new product’s features are highly versatile with a battery input and two more inputs for PV panels. The maximum power point tracking system is built for each PV input.
The solar hybrid inverter has a versatile application of easy set up, and upgrades the inverter firmware via PC, table or smart phones. Moreover, the storage system made by the leading market players’ is compatible with lithium-ion batteries and lead acid.

The research offers an extensive analysis of key players active in the global solar hybrid inverter industry. Detailed analysis on operating business segments, product portfolio, business performance, and key strategic developments is offered in the research. Leading market players analyzed in the report include Flin Energy, Luminous Power Technologies, Microtek Inverters, Schneider Eevctric, Havells, Delta Energy Systems, Pure Volt, Redback Technologies, KACO New Energy, and Su-kam Power Systems. These players have adopted various strategies including expansions, mergers & acquisitions, joint ventures, new product launches, and collaborations to gain a strong position in the industry.

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The market is analyzed based on regions and competitive landscape in each region is mentioned. Regions discussed in the study include North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). These insights help to devise strategies and create new opportunities to achieve exceptional results.

Key benefits of the report
• This study presents the analytical depiction of the global solar hybrid inverter industry along with the current trends and market estimation to determine the imminent investment pockets.
• The report represents information related to key drivers, restraints, and opportunities along with detailed analysis of the solar hybrid inverter market.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.
• The report provides a detailed global market analysis depending on competitive and how the competition will take shape in coming years.
• This report helps users in comprehending the key product segments and their future.

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