Press release
Solar Inverter Industry: Size, Growth Opportunities, Trends, and Demand Insights
Solar Inverter Global Market Report 2024
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=5752&type=smp
According to The Business Research Company's, The solar inverter market size has grown rapidly in recent years. It will grow from $15.08 billion in 2023 to $16.91 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to increased adoption of solar photovoltaic (pv) systems, growth in focus on energy independence and sustainability, solar cost reduction, grid integration, energy independence..
The solar inverter market size is expected to see rapid growth in the next few years. It will grow to $26.06 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The growth in the forecast period can be attributed to energy storage integration, global climate commitments, electrification initiatives, smart grid development, increasing solar power projects. Major trends in the forecast period include smart inverters, hybrid solar inverters, advanced mppt algorithms, ai and predictive maintenance, bifacial solar panels..
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/solar-inverter-global-market-report
Market Drivers and Trends:
Rapid development in the renewable energy sector is significantly driving the growth of the solar inverter market. Solar power's rapid growth in recent years has given new life to global efforts to reduce greenhouse gas emissions and mitigate the worst effects of climate change. Solar inverters are the engines of renewable energy growth. For instance, according to the International Energy Agency (an intergovernmental organization), global renewable electricity capacity is expected to increase by more than 60% from 2020 levels to over 4,800 gigawatts (GW) by 2026, equaling the total global power capacity of fossil fuels and nuclear power combined. Additionally, solar PV continues to be the engine of renewable energy growth, with capacity additions expected to rise by 17% in 2021 to a new high of nearly 160 GW. Therefore, the rapid development in the renewable energy sector is projected to boost the growth of the solar inverter market.
Technological advancement is a key trend gaining popularity in the solar inverter market. The key players in the solar inverter market are focusing on developing new technological solutions to strengthen their position in the market. For instance, in March 2021, Fronius, an Austrian solar inverter manufacturer, launched the Primo GEN24 Plus hybrid inverter for residential use. The single-phase, 230 V device comes in six power classes ranging from 3 to 6 kilowatts (kW) and a DC input voltage range of 65 to 600 V. This inverter has a feature called PV Point, which acts as a backup power socket, providing backup power without the use of a battery. This can be used to power essential household items such as laptops, smartphones, and small freezers.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Asea Brown Boveri, Sma Solar Technology AG, Canadian Solar, Solaredge Technologies Inc, Delta Electronics Inc., Solectria Renewables LLC, Omron Corporation, Hitachi Hi-rel Power Electronics Private Limited, Power Electronics S.L, Schneider Electric, SunPower Corporation, imer S.p.A, Tabuchi Electric Co. Ltd, General Electric Company, Enphase Energy Inc., Advanced Energy Industries Inc., Chint Power Systems Co. Ltd., Eaton Corporation plc, Ginlong Technologies Co. Ltd., GoodWe Power Supply Technology Co. Ltd., Huawei Technologies Co. Ltd., Ingeteam S.A., KACO new energy GmbH, Mitsubishi Electric Corporation, Sungrow Power Supply Co. Ltd., Tebian Electric Apparatus Co. Ltd., Toshiba Corporation, Trina Solar Limited, Wuxi Suntech Power Co. Ltd., Yaskawa Electric Corporation, Yingli Green Energy Holding Company Limited, Zeversolar, Zhejiang Chint Electrics Co. Ltd.
Solar Inverter Market 2024 Key Insights:
• The solar inverter market size is expected to see rapid growth in the next few years. It will grow to $26.06 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%.
• Rapid Development In The Renewable Energy Sector Propelling Growth In The Solar Inverter Market
• Technological Advancement In Solar Inverter
• Asia-Pacific was the largest region in the solar inverter market in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=5752&type=smp
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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 Solar Inverter Industry: Size, Growth Opportunities, Trends, and Demand Insights here
News-ID: 3737466 • Views: …
More Releases from The Business research company
Evolving Market Trends In The Integrated Geophysical Services Industry: Enhancin …
The Integrated Geophysical Services Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Expected Integrated Geophysical Services Market Size During the Forecast Period?
The integrated geophysical services market has experienced consistent growth in recent years, expected to rise from $2.35 billion in 2024 to…
Global HR Advisory Services Market: Key Trends, Market Share, Growth Drivers, An …
The HR advisory services market report describes and explains the HR advisory services market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global HR advisory services market reached a value of nearly $155.74 billion in 2024, having grown at a compound annual growth rate (CAGR) of 4.22% since…
High Voltage Aluminium Electrolytic Capacitors Global Market Report 2025: Size, …
The high voltage aluminum electrolytic capacitors report describes and explains the high voltage aluminum electrolytic capacitors market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global high voltage aluminum electrolytic capacitors market reached a value of nearly $4.10301 billion in 2024, having grown at a compound annual growth…
Global Vertical Market Software Market: Key Trends, Market Share, Growth Drivers …
The vertical market software report describes and explains the vertical market software market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global vertical market software market reached a value of nearly $152.61027 billion in 2024, having grown at a compound annual growth rate (CAGR) of 12.11% since 2019.…
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…
