Press release
Solar PV Inverter Market Growth, Sales, Revenue, Demand and Forecast Report By 2023-2028
Solar PV Inverter Market
IMARC Group's latest research report, titled "Solar PV Inverter Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," The global solar PV inverter market size reached US$ 7.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.1 Billion by 2028, exhibiting a growth rate (CAGR) of 4.6% during 2023-2028.
What is Solar PV Inverter ? :
A solar photovoltaic (PV) inverter is an electronic device that transforms the direct current (DC) electricity generated by solar panels into alternating current (AC) electricity, to be then utilized by businesses and homes. Solar PV inverters come in various sizes and types, including string inverters, micro-inverters, and power optimizers, and are an essential component of any solar energy system.
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Top Companies in Global Solar PV Inverter Market:
• ABB Ltd, Schneider Electric SE
• Siemens AG
• Mitsubishi Electric Corporation
• Omron Corporation
• General Electric Company
• SMA Solar Technology AG
• Delta Energy Systems Inc.
• Enphase Energy Inc.
• SolarEdge Technologies Inc.
• Huawei Technologies Co. Ltd
• Kstar New Energy Co. Ltd
• Sineng Electric Co. Ltd
• Sungrow Power Supply Co Ltd
• Tabuchi Electric Co. Ltd
• TBEA Sunoasis Co. Ltd
• Toshiba Corporation
Solar PV Inverter Market Growth and Demands:
The increasing demand for renewable energy sources, such as solar power, represents a significant factor driving the market growth across the globe. This is primarily attributed to the rising concerns over climate change and the increasing demand to reduce reliance on fossil fuels, thus driving the market growth. In line with this, governments in various countries across the world are offering incentives and subsidies for the installation of solar PV systems, which is contributing to the growth of the market.
In addition to this, the introduction of various regulations and initiatives by governments in several countries to reduce carbon emissions and encourage the use of renewable energy is facilitating the growth of the market. Other factors, such as the expansion of the solar industry and technological advancements in solar PV inverter technology, including increased efficiency, better reliability, and improved performance in low light conditions, are creating a positive outlook for the market further across the globe.
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Key Market Segmentation:
Breakup by Technology:
• central inverter
• string inverter
• microinverter
• others
Breakup by Application:
• utility scale
• residential scale
• small commercial scale
• large commercial scale
• industrial scale
Breakup by voltage:
• < 1,000 V
• 1,000 - 1,499 V
• > 1,500 V
Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other
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Contact us:
IMARC Group
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Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-080
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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