US Solar Inverter Market to Develop New Growth Story: Emerging Segments is the Key

The US Solar Inverter market size is expected to grow from US$ 825.86 million in 2022 and is expected to reach US$ 2,773.99 million by 2030; it is estimated to record a CAGR of 12.8% from 2022 to 2030.

Based on phase type, the US Solar Inverter market analysis is segmented into single phase, and three phase. Single phase is commonly utilized in cases where typical loads are heating, instead of large electric motors. This type of phase generates single phase power from the PV modules and is capable to connect power to single phase equipment or the grid itself.

Grab PDF To Know More @ https://www.businessmarketinsights.com/sample/BMIRE00028810?utm_source=OpenPR&utm_medium=10868

The single phase comes under a less than 5 kW of capacity. The single phase power produces electricity for the residential houses and power supplies which might be utilized domestically. Various appliances need small level of power to make televisions, lights, and heaters functional. Due to generation of power for using appliances, single phase inverter is ideal for residential purpose.
MARKET INTRODUCTION

Major developments have been observed in the US solar inverter market. For instance, in November 2019, SMA Solar Technology AG collaborated with South Korea-based LG Chem. The SUNNY BOY STORAGE battery inverters of SMA and RESU 10M batteries of LG Chem combined to form new home storage systems, which resulted in the development of integrated DC/DC converters that can help increasing the operating voltage of batteries. Further, in July 2019, ABB and the Italian company FIMER S.p.A signed an agreement for FIMER to acquire ABB's solar inverter business. The transaction enhanced the prospects of the US solar inverter market growth in business and enabled ABB to focus its business portfolio on other growth markets. Additionally, the market experienced several new product launches. For instance, Delta announced the launch of new US solar inverter market growth models in March 2022 for both residential and commercial applications.

In the last two decades solar PV from being the most expensive electricity source has become the cheapest attaining grid-parity. Solar PV deployment globally has gained popularity and is exceeding all expectations in the transition towards a greener sustainable global power generation mix.
One of the major drivers behind the solar PV successful deployment is attributable to the plummeting costs of raw materials, technological advancements, government policies and economies of scale. A significant reduction of the cost declines over the past decade can be attributed to 85% decline in the cost of module. A decade ago, the module alone used to cost around $2.50 per watt, and now an entire utility-scale PV system costs around $1 per watt.
List of Companies Profiled in the US Solar Inverter Market Report are:
• GoodWe Technologies Co Ltd
• Delta Electronics Inc
• CyboEnergy Inc
• Yaskawa America Inc
• Danfoss AS
• SMA Solar Technology AG

Not Matching with Business Objective? Enquire for Customize Report @ https://www.businessmarketinsights.com/buy/single/BMIRE00028810?utm_source=OpenPR&utm_medium=10868

Table of Contents

Report Overview: It includes the objectives and scope of the study and gives highlights of key market segments and players covered. It also includes years considered for the research study.

Executive Summary: It covers industry trends with high focus on market use cases and top market trends, market size by regions, and market size. It also covers market share and growth rate by regions.

Key Players: Here, the report concentrates on mergers and acquisitions, expansions, analysis of key players, establishment date of companies, and areas served, manufacturing base, and revenue of key players.

Breakdown by Product and Application: This section provides details about market size by product and application.

Regional Analysis: All of the regions and countries analyzed in the report are studied on the basis of market size by product and application, key players, and market forecast.

Profiles of International Players: Here, players are evaluated on the basis of their gross margin, price, sales, revenue, business, products, and other company details.

Market Dynamics: It includes supply chain analysis, analysis of regional marketing, challenges, opportunities, and drivers analyzed in the report.

Key Findings of the Research Study

Appendix: It includes details about research and methodology approach, research methodology, data sources, authors of the study, and a disclaimer.

Contact us:
If you have any questions about this report or would like further information, please contact us:
Contact person: Ankit Mathur
Email: sales@businessmarketinsights.com
Phone: +16467917070

About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.

This release was published on openPR.