Solar Inverter Market Scope
The solar inverter is a crucial device in any solar power system. The basic function of the inverter is to change the variable direct current output of the solar panels into alternating current. The several electronic and electrical components connected in the circuit help in the conversion. The converted alternating current power is used for running the various appliances like the TV, refrigerator, and microwave, among others. Moreover, for some particular applications, a user can directly use the direct current power output from the solar panels such as LED night-lights and cell phone charger. Usually, the power of a home solar power system is used for power AC loads.
The market study is segmented by Type (String Solar Inverters, Hybrid Inverters, Off-grid Inverters and Micro Inverters), by Application (Residential, Commercial, Industrial and Public Utilities) and major geographies with country level break-up.
Research Analyst at AMA estimates that Chinese, German, and Indian Manufacturers will contribute to the maximum growth of Global Solar Inverter market throughout the predicted period.
ABB (Switzerland), Chint Power Systems America (United States), Darfon Electronics (Taiwan), Delta Energy Systems (Germany), Eaton Corporation (Ireland), Elettronica Santerno (Italy), SMA Solar Technology AG (Germany), LEONICS CO., LTD. (Thailand), Fronius International GmbH (Austria), SolarEdge (Israel) and Sungrow (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Delta (India), GoodWe (Australia), Toshiba Mitsubishi-Electric Industrial Systems (Japan), Fronius International GmbH (Austria), Huawei (China), Luminous (India), Su-Kam (India), Microtek (India) and Tata Power Solar (India).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AdvanceMarketAnalytics has segmented the market of Global Solar Inverter market by Type, Application and Region.
On the basis of geography, the market of Solar Inverter has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
On 9 July 2019, ABB, a major player in the global solar inverter market, is paying USD 470 million to unload the business to Italian company Fimer — an acknowledgement of ongoing challenges in a market-driven by fierce competition and increasing price pressure.
- The Multifunction Solar Inverters Are Gaining Popularity
- String Inverters Keep Scaling Up
- Rising Concerns of Greenhouse Effect and Global Warming
- Increasing the Prices of Electricity Coupled with Fossil Fuels
- Favourable Government Guidelines towards the Use of Renewable Energy Resources
- The Growing Infrastructure Coupled with Industrialization among the Developing Countries
- Hybrid inverters May Open Lucrative Opportunities for the Market
- A High Initial Investment Cost
- Fierce Competition and Increasing Price Pressure
Key Target AudienceSolar Invertors Manufacturers, Solar Invertors Sub Component Manufacturers, Solar Invertors Trader/Distributors, Solar Invertors Importer/Exporter, Regulatory & Government Bodies, End Users and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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