Press release
Global Solar Inverter Market to Reach US$ 18.9 Billion Valuation in 2032, Fueled by 6% CAGR Growth
Solar Inverter Market
Notably, between 2017 and 2021, the solar inverter market experienced a notable CAGR of 3.8%. According to the report, sales are forecasted to exhibit a robust 6% CAGR during the evaluation timeframe.
Among the various types of solar inverters, string inverters are recognized for their ease of maintenance and are often installed in accessible locations such as basements and garages.
Curious about our methods? Click to request sample report and glimpse our expertise @ https://www.futuremarketinsights.com/reports/sample/rep-gb-6287
- Driving Forces and Government Initiatives Shaping the Solar Inverter Market
Solar inverters are influenced by critical factors such as roof orientation, shading, and roof inclination. Among renewable energy sources, solar photovoltaics have demonstrated significant cost reductions of around 72% for Levelized Cost of Electricity (LCOE), surpassing reductions seen in other sources like wind energy. This reduction stands as a major catalyst for the future growth of the solar inverter market.
Governments worldwide are taking proactive measures to promote solar inverters in industrial applications. For instance, China's National Energy Administration (NEA) has set a target as part of its 14th Five-year Plan to account for over 50% of all installed capacities by 2025.
- Notable Insights from the Solar Inverter Market:
North America commands the largest share of the market, largely due to the higher adoption rate of solar energy, particularly in the US.
The Asia-Pacific region is poised for rapid growth in the solar inverter market, with Japan and India taking the lead.
Favorable policies and incentives in Europe, including residential feed-in-tariffs (FITs), are expected to drive growth. Germany is leading the way, followed by the UK.
- Recent Developments in Solar Inverter Industry:
In March 2022, Huawei Technologies forged a collaboration with Meienergy Technology Co., Ltd. to integrate smart energy storage into a 1 GW utility solar plant in Africa, incorporating a 500 MWh energy storage system developed by Meienergy.
SMA Solar Technology AG teamed up with LG Chem to blend SUNNY BOY Battery storage inverters with RESU 10M batteries, introducing innovative home storage solutions. This strategic alliance aims to develop integrated DC/DC converters to enhance the operational voltage of the batteries.
Canadian Solar Inc. unveiled its utility-scale battery storage solution, 'SolBank,' in September 2022, catering to the growing demand for energy storage in large-scale applications.
In January 2022, Sungrow introduced its innovative 1+X Modular central inverter during the World Future Energy Summit in Abu Dhabi. This inverter stands out for its modularity, which can be assessed at the inverter, system, and component levels.
In June 2022, V-Guard Industries Ltd. unveiled a new range of on-grid solar power inverters called 'Solsmart.' These inverters come with built-in switches that offer additional safety benefits, incorporating advanced safety features. Available in both three-phase and single-phase configurations, Solsmart On-Grid PV inverter also offers a 10-year warranty.
In April 2022, SMA Solar Technology AG launched a new 3-phase inverter series designed for residential and commercial solar PV systems with outputs nearing 135 kW. The series includes four new models with rated powers of 25 kW, 20 kW, 15 kW, and 12 kW, catering to various system sizes and requirements.
Stay ahead in a digitally transformative era. Buy now and drive industry revolution @ https://www.futuremarketinsights.com/checkout/6287
- Key Companies Profiled
Siemens AG
Fimer Group
SMA Solar Technology AG
Delta Electronics Inc
SunPower Corporation
Omron Corporation
Eaton
- Global Solar Inverter Market by Category
By Type:
Central Inverter
Micro-Inverter
String Inverter
By System Type:
Off Grid
On Grid
By Phase:
Single Phase
Three Phase
By End-Use:
Residential
Commercial and Industrial
Utilities
By Region:
North America
Latin America
Europe
East Asia
South Asia Pacific
The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Solar Inverter Market to Reach US$ 18.9 Billion Valuation in 2032, Fueled by 6% CAGR Growth here
News-ID: 3196920 • Views: …
More Releases from Future Market Insights
Germany Flexible Protective Packaging Market Poised for Significant Growth at 6. …
The global flexible protective packaging market is set for remarkable growth over the next decade, with its value estimated at USD 14.6 billion in 2025 and projected to reach USD 25.1 billion by 2035, registering a compound annual growth rate (CAGR) of 5.6%. This expansion reflects the rising adoption of lightweight, durable, and cost-efficient packaging solutions across industries ranging from electronics and consumer goods to pharmaceuticals and e-commerce.
The market has…
Low Density Polyethylene Packaging Market Set to Expand Steadily from USD 21.8 B …
The global low density polyethylene (LDPE) packaging market is experiencing a steady growth trajectory, with its value estimated at USD 21.8 billion in 2025 and projected to reach USD 34.5 billion by 2035. This expansion, reflecting a compound annual growth rate (CAGR) of 4.7%, is driven by the versatility, cost-effectiveness, and durability of LDPE materials across diverse packaging applications. From flexible films to robust containers, LDPE continues to provide manufacturers…
Recycled Ocean Plastic Packaging Market Poised for Rapid Growth as Sustainabilit …
The recycled ocean plastic packaging market is charting a remarkable growth trajectory, estimated at USD 723.1 million in 2025 and projected to soar to USD 2,206.1 million by 2035, reflecting a robust compound annual growth rate (CAGR) of 11.8%. This surge is propelled by growing environmental awareness, regulatory initiatives targeting marine pollution, and rising consumer preference for eco-friendly packaging solutions across food, beverage, personal care, and consumer goods sectors.
Early Adoption…
Germany Blown Stretch Packaging Films Market Poised for Steady Growth at 4.3% by …
The global blown stretch packaging films market is on a clear growth trajectory, with its value projected to rise from USD 3.2 billion in 2025 to USD 4.6 billion by 2035, reflecting a compound annual growth rate (CAGR) of 3.7%. This market expansion is underpinned by increasing demand across logistics, e-commerce, food and beverage, and industrial sectors. Manufacturers are actively adopting innovative solutions to enhance packaging efficiency, sustainability, and cost-effectiveness,…
More Releases for Solar
Biohybrid Solar Cell Market Professional Survey Report 2022 - Jinko Solar, JA SO …
The Biohybrid Solar Cell Market Report 2022 provides a comprehensive analysis of observable trends and projections. This research shows how to attract a large number of customers. Our certified crew of economists, researchers, and advisers has made further attempts in projecting the global industry by utilising accredited global Biohybrid Solar Cell market information tools as well as various instruments and ways to successfully review and get information. The research argues…
Home Solar Power System Market Size, Share, Trends, Growth - Tesla, Panasonic So …
The Global Home Solar Power System Market study includes new innovations, market dynamics, strategic profiling in terms of the future market strategies and shares for the subsectors of the industry. This research consists of details related to the size of the industries, the major players, markets, sales volume and value. This study offers a detail data on the historical data pointers as well as forecasts by region/country for the sectors…
Solar PV Module Market Outlook To 2024 - Trina Solar, Canadian Solar Inc., JA So …
Solar PV module market from utility sector has witnessed a substantial growth globally in recent years. In the first quarter of the year, Vietnam's Ministry of Industry and Trade have talked about their FiT scheme related to utility-based solar power projects. Ongoing electrification programs and incentives benefit pertaining to grid connected power generation is surging the demand for on-grid solar PV modules. On-grid connection represented 55% of the overall solar…
Solar Simulator Market Distribution Channel 2019: Spire Solar, Solar Energy Inte …
Solar Simulator Market report aims to examine the developments of market including its market improvements, developments, positions and others.
This report on the Solar Simulator market offers explanatory knowledge on the market parts like dominating players, drivers and restraints, production, revenue, consumption, import and export, and the most effective development within the organization size, deployment type, inside, segmentation comprised throughout this analysis, also major the players have used various strategies such…
Solar PV Module Market By Key Vendors: Trina Solar, Canadian Solar Inc., JA Sola …
UK solar PV module market is set to expand owing to government initiatives towards sustainable energy integration. The export tariff introduced by the UK government facilitates USD 0.06 per unit for the surplus electricity injected back to the grid by the generator. Favorable government reforms with ambitious plan towards carbon footprint reduction will further boost the business outlook.
Request for a sample of this research report @
https://www.gminsights.com/request-sample/detail/1563
Solar PV Module Market size…
Global Solar Thermal Market 2016 Abengoa Solar, SUPCON Solar, Solar Euromed
Global Solar Thermal Market Research Report
The MRS Research Group Solar Thermal report by QY Research represents an inclusive evaluation of the Solar Thermal Market and comprises considerable insights, historical data, facts,and statistical and industry-validated data of the global market.Additionally,it consists of estimated data that is evaluated with the help of suitable set of methodologies and assumptions.The MRS Research Group report research highlights informative data and in-depth analysis of Solar Thermal…
