Modular Inverter Market Ongoing Trends, Opportunities & Forecast To 2031

Modular Inverter Market Statistics

The modular inverter market size was valued at $16.8 billion in 2022 and is estimated to reach $33.3 billion by 2031, growing at a CAGR of 8% from 2022 to 2031.

The key players operating in the modular inverter are Eaton Corporation, Eagle Eye Power Solutions, BENNING Elektrotechnik und Elektronik GmbH & Co. KG, AEG Power Solutions, Sungrow Power Supply Co., Ltd., Shenzhen Pulsen technology, TDK Electronics AG, PRAG, Shenzhen Bwitt Power Co., Limited, and CE+ T Power.

Get a PDF brochure for Industrial Insights and Business Intelligence: https://www.alliedmarketresearch.com/request-sample/47919

Modular inverters are devices or equipment that produce pure sine wave output. From component to system, modularization uniqueness is one of a kind in the industry. The modular design realizes the plug-and-play function, reducing the maintenance time and even allowing implementation without professionals.

The modular inverter market trends are attributed to increased demand from the solar energy sector and increased investment in product development. They help in monitoring and controlling the entire photovoltaic system.

It exceedingly reduces generation loss as the remaining module continues operation when a single module fails. Because their modularity makes them easy to maintain and repair, modular inverters also tend to have a longer lifespan than inverters that feature integrated parts.

The inverters may be manufactured to offer the same lifespan, but the hassle-free repair of modular models makes it easy to keep them in service for extended periods of time.

The modular inverter industry is witnessing a significant boost in its demand. This can be attributed to the growing industrial and telecommunications sectors where uninterrupted power supply is of high importance.

It also has a facility for protecting the network against overloading. It also has the great advantage of mains-independent backup systems, switching from mains to emergency power within a few milliseconds in the event of a power failure - for an uninterrupted power supply.

North America dominated the modular inverter market and is expected to grow at a high CAGR during the forecast period.

Buy This Report (198 Pages PDF with Insights, Charts, Tables, and Figures): https://bit.ly/3z0oDne

By type, the compact modular inverter is projected to grow at the highest CAGR during the modular inverter market forecast period.

By application, the industrial segment dominated the modular inverter market share by more than 45.0% in 2021.

Modular inverters able manufacturers to attain that continuity and thus aids in preventing huge losses. however, high installation costs discourage and sometimes lead to manufacturers opting for alternative or cheaper products available in the market and thus overall acts as a restraining factor for the modular inverter market growth.

Offering a wide range of solutions and services, Sungrow is committed to providing clean power for all and is steadfast in its efforts to become the global leader in clean power conversion technology.

Read More Information: https://www.alliedmarketresearch.com/modular-inverter-market-A47444

Sungrow launched the "1+X" Modular Inverter, which is expected to lead the next-generation inverter designation for utility-scale solar plants, significantly streamlining O&M and guaranteeing favorable yields for applications.

David Correa5933 NE Win Sivers Drive#205, Portland, OR 97220United StatesUSA/Canada (Toll Free):+1-800-792-5285, +1-503-894-6022UK: +44-845-528-1300Hong Kong: +852-301-84916India (Pune): +91-20-66346060Fax: +1(855)550-5975help@alliedmarketresearch.com

Web: www.alliedmarketresearch.com

Allied Market Research Blog:

https://blog.alliedmarketresearch.com

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.