Photovoltaic (PV) Inverters - Global Strategic Business Report

The global market for Photovoltaic (PV) Inverters is estimated at US$11.3 Billion in 2023 and is projected to reach US$19.8 Billion by 2030, growing at a CAGR of 8.3% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Several key factors are driving the growth of the PV inverter market. The integration of PV inverters with smart grid technology enhances their functionality and compatibility with modern energy systems. Advances in inverter technology have led to improved efficiency and performance, making them more attractive to residential and commercial users. The trend towards residential solar installations and the increasing adoption of PV inverters in commercial, industrial, and agricultural sectors are boosting demand. Environmental awareness and the preference for energy independence are also significant drivers, as consumers seek green energy solutions and off-grid systems. Additionally, the rise in electric vehicle ownership is creating demand for integrated PV inverter solutions for home EV charging. Government incentives and subsidies, mandatory renewable energy targets, and the development of modular and scalable designs are further promoting the adoption of PV inverters. Innovations in installation and maintenance, compatibility with battery storage systems, and the incorporation of smart energy management systems are enhancing their accessibility and efficiency. The use of microinverters and power optimizers, which offer module-level power optimization, is also becoming more popular, contributing to the overall growth of the PV inverter market.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Central Inverter segment, which is expected to reach US$9.9 Billion by 2030 with a CAGR of a 8.9%. The String Inverter segment is also set to grow at 7.0% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, estimated at $3.0 Billion in 2023, and China, forecasted to grow at an impressive 12.3% CAGR to reach $5.0 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Photovoltaic (PV) Inverters Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Photovoltaic (PV) Inverters Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Photovoltaic (PV) Inverters Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players such as ABB Ltd., Elettronica Santerno S.p.A, Enphase Energy Inc., and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Select Competitors (Total 52 Featured):

• ABB Ltd.
• Elettronica Santerno S.p.A
• Enphase Energy Inc.
• Fronius International GmbH
• Ingeteam Corporacion, S.A.
• KACO new energy GmbH
• Sineng
• SMA Solar Technology AG
• Sungrow Power Supply
• TMEIC