The global Photovoltaic Inverter market was valued at USD 8.4 Billion in 2020 and is projected to reach USD 12.99 Billion by 2028, growing at a CAGR of 5.60%% from 2021 to 2028.
A solar inverter is one of the most important elements of the solar electric power system. It converts the variable direct current (DC) output of a photovoltaic (PV) solar panel into alternating 240V current (AC). This AC electricity then can be fed into your home to operate your appliances.
This report provides an analysis of the Photovoltaic Inverter market for the historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report includes exhaustive analysis of segments, regions and countries comprising of market size and estimations in terms of revenue for the years 2016–2028.
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Increasing demand for renewable energy due to high power consumption, coupled with growing demand for carbon reduction is propelling the market growth.
Reduction in renewable power generation costs to spread the rapid adoption of renewable energy sources is creating a new scope for market growth.
Regional Analysis: Preview
Based on the geography, the global Photovoltaic Inverter market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. Moreover, the regional sections if further bifurcated into key country level markets for better understanding of the market.
The report covers detailed analysis on drivers, business opportunities, regulatory norms, supplier concertation and such other factors impacting regional growth. Moreover, it also covers market estimations and forecast for each segment for each region for the years 2016–2028.
Global Photovoltaic Inverter market: Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
The global Photovoltaic Inverter market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Photovoltaic Inverter market are SMA, Danfoss, TMEIC, Omron, AE, ABB, Sungrow Power Supply Co. Ltd., SolarEage, Enphase, Huawei, Tebian Electric Apparatus Stock Co. Ltd. (TBEA).
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