Harnessing Renewable Energy

Oct 15, 2023

The global Solar Inverter Market is expected to be worth US$ 11 billion in 2022. Market sales are expected to grow at a 6% CAGR over the forecast period. Market growth will be driven by the increasing use of solar panels and renewable energy. Solar inverters’ widespread use in residential, commercial, industrial, and utility applications will continue to drive market sales.

In recent years, manufacturers have expanded their product lines in response to new technological developments in inverter technology. Because they are the primary source of solar energy in photovoltaic systems, solar inverters have the potential to reduce global warming and greenhouse gas emissions.

"Increasing awareness of energy-efficient household equipment, as well as rigorous rules pertaining to carbon emissions and energy consumption, will increase sales of solar inverters," an FMI analyst predicts.

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Key Takeaways:

Micro inverters are gaining popularity due to heavy usage in most of the applications. Microinverters work in the same way as string inverters, except they are put beneath each solar panel on your roof.

Competitive Landscape

The solar invertor market is consolidated with leading players holding around 80%-85% of the total market share. These players are likely to invest in new technology development and expansion of their distribution networks to maintain their market presence.

Some of the key players in this industry include

Each of these microinverters is roughly the size of a router. New electrical rules demand quick solar system shutdown to protect first responders and firemen from excessive voltage when on roofs or maintaining power lines. Microinverters meet these requirements for quick shutdown and have this capacity built into each module.

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Global Solar Inverter Market by Category

By Type:

By System Type:

By Phase:

By End-Use:

By Region:

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Table of Content

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Technology Roadmap

1.5. Analysis and Recommendations

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3.1. Key Trends Impacting the Market

3.2. Product Innovation / Development Trends

4.1. Product Adoption / Usage Analysis

4.2. Product USPs / Features

4.3. Strategic Promotional Strategies

5.1. Historical Market Volume (Units) Analysis, 2017–2020

5.2. Current and Future Market Volume (Units) Projections, 2021–2031

5.3. Y-o-Y Growth Trend Analysis

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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