The global solar inverter market size is expected to reach around US$ 16.88 billion by 2030 from US$ 8.12 billion in 2021 and is expected to grow at an impressive double-digit rate of 8.5% from 2022 to 2030.
The study includes drivers and restraints of this market. The study provides an analysis of the global solar inverter market for the period 2017-2030, wherein 2022 to 2030 is the forecast period and 2021 is considered as the base year.
Report Highlights:
- Based on the product type, the central inverter segment dominated the global solar (PV) inverter market in 2021 with largest market share. The central solar (PV) inverter is considered as effective and efficient in nature. This kind of solar (PV) inverter helps is sufficient for huge buildings and industrial centers.
- On the basis of connection type, the on-grid segment holds the largest market share the global solar (PV) inverter market in 2021. The on-grid solar (PV) inverter benefits the end users in several ways such as on-grid solar (PV) inverter does not require any kind of backup system.
- Based on the end user, the utilities segment led the market in 2021 with largest market share of 44%. The solar (PV) inverter is used in all types of areas and sectors which fall under the category of utility.
- North America is the fastest growing region in the solar (PV) inverter market. The factors such as increasing importance of zero voltage inverters, stringent government regulations to curb the greenhouse gases emissions, and growing awareness regarding solar (PV) inverter is boosting the growth of the solar (PV) inverter market in North America region.
- Asia-Pacific region is the largest segment for solar (PV) inverter market in 2021 with market share 43%. The solar (PV) inverter market in Asia-Pacific region is being driven by the rising investments in development projects, rapid urbanization and industrialization, and benefits provided by government such as tax incentives and rebates.
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Report Highlights:
- Based on the product type, the central inverter segment dominated the global solar (PV) inverter market in 2021 with largest market share. The central solar (PV) inverter is considered as effective and efficient in nature. This kind of solar (PV) inverter helps is sufficient for huge buildings and industrial centers.
- On the basis of connection type, the on-grid segment holds the largest market share the global solar (PV) inverter market in 2021. The on-grid solar (PV) inverter benefits the end users in several ways such as on-grid solar (PV) inverter does not require any kind of backup system.
- Based on the end user, the utilities segment led the market in 2021 with largest market share of 44%. The solar (PV) inverter is used in all types of areas and sectors which fall under the category of utility.
- North America is the fastest growing region in the solar (PV) inverter market. The factors such as increasing importance of zero voltage inverters, stringent government regulations to curb the greenhouse gases emissions, and growing awareness regarding solar (PV) inverter is boosting the growth of the solar (PV) inverter market in North America region.
- Asia-Pacific region is the largest segment for solar (PV) inverter market in 2021 with market share 43%. The solar (PV) inverter market in Asia-Pacific region is being driven by the rising investments in development projects, rapid urbanization and industrialization, and benefits provided by government such as tax incentives and rebates.
Research Methodology
A unique research methodology has been utilized to conduct comprehensive research on the growth of the global solar inverter market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the draw conclusions. Secondary sources referred to by analysts during the production of the global market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of our study on the market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from mattress topper industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global solar inverter market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped to estimates the future prospects of the global market more reliable and accurate.
Why should you invest in this report?
If you are aiming to enter the global solar inverter market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for solar inverter are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2022-2030, so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Some of the prominent players in the global solar inverter market include:
- Omron Corporation
- ABB Ltd
- Mitsubishi Electric Corporation
- Siemens AG
- Schneider Electric SE
- SMA Solar Technology AG
- Delta Electronics Inc.
- SunPower
- Hitachi Hi-Rel Power Electronics Pvt. Ltd
- Power Electronics S.L.
Market Segmentation:
By Product Type
- Central Inverter
- String Inverter
- Micro Inverter
- Others
By Connection
- On-grid
- Off-grid
By Phase
- Single phase
- Three phase
By End User
- Residential
- Commercial
- Industrial
- Utilities
By Nominal Power Output
- ≤ 0.5 kW
- 0.5 - 3 kW
- 3 - 33 kW
- 33 - 110 kW
- 110 kW
By Nominal Output Voltage
- ≤ 230 V
- 230 - 400 V
- 400 - 600 V
- 600 V
Regional Analysis:
The geographical analysis of the global solar inverter market has been done for North America, Europe, Asia-Pacific, and the Rest of the World.
The North American Market is again segmented into the US, Canada, and Mexico. Coming to the European Market, it can be segmented further into the UK, Germany, France, Italy, Spain, and the rest. Coming to the Asia-Pacific, the global solar inverter Market is segmented into China, India, Japan, and Rest of Asia Pacific. Among others, the market is segmented into the Middle East and Africa, (GCC, North Africa, South Africa and Rest of the Middle East & Africa).
Key Questions Answered by the Report:
- What will be the size of the global solar inverter market in 2030?
- What is the expected CAGR for the solar inverter market between 2021 and 2030?
- Which are the top players active in this global market?
- What are the key drivers of this global market?
- How will the market situation change in the coming years?
- Which region held the highest market share in this global market?
- What are the common business tactics adopted by players?
- What is the growth outlook of the global solar inverter market?
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Nominal Output Voltage Procurement Analysis
4.3.2. Sales and Nominal Power Output Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Solar Inverter Market
5.1. COVID-19 Landscape: Solar Inverter Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Solar Inverter Market, By Product Type
8.1. Solar Inverter Market, by Product Type, 2022-2030
8.1.1. Central Inverter
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. String Inverter
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Micro Inverter
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Others
8.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Solar Inverter Market, By Connection Type
9.1. Solar Inverter Market, by Connection Type, 2022-2030
9.1.1. On-grid
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Off-grid
9.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Solar Inverter Market, By Phase Type
10.1. Solar Inverter Market, by Phase Type, 2022-2030
10.1.1. Single phase
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Three phase
10.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Solar Inverter Market, By End User Type
11.1. Solar Inverter Market, by End User Type, 2022-2030
11.1.1. Residential
11.1.1.1. Market Revenue and Forecast (2017-2030)
11.1.2. Commercial
11.1.2.1. Market Revenue and Forecast (2017-2030)
11.1.3. Industrial
11.1.3.1. Market Revenue and Forecast (2017-2030)
11.1.4. Utilities
11.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 12. Global Solar Inverter Market, By Nominal Power Output
12.1. Solar Inverter Market, by Nominal Power Output, 2022-2030
12.1.1. ≤ 0.5 kW
12.1.1.1. Market Revenue and Forecast (2017-2030)
12.1.2. 3 - 33 kW
12.1.2.1. Market Revenue and Forecast (2017-2030)
12.1.3. 0.5 - 3 kW
12.1.3.1. Market Revenue and Forecast (2017-2030)
12.1.4. 33 - 110 kW
12.1.4.1. Market Revenue and Forecast (2017-2030)
12.1.5. 110 kW
12.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 13. Global Solar Inverter Market, By Nominal Output Voltage
13.1. Solar Inverter Market, by Connection Type, 2022-2030
13.1.1. ≤ 230 V
13.1.1.1. Market Revenue and Forecast (2017-2030)
13.1.2. 230 - 400 V
13.1.2.1. Market Revenue and Forecast (2017-2030)
13.1.3. 400 - 600 V
13.1.3.1. Market Revenue and Forecast (2017-2030)
13.1.4. 600 V
13.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 14. Global Solar Inverter Market, Regional Estimates and Trend Forecast
14.1. North America
14.1.1. Market Revenue and Forecast, by Product (2017-2030)
14.1.2. Market Revenue and Forecast, by Connection (2017-2030)
14.1.3. Market Revenue and Forecast, by Phase (2017-2030)
14.1.4. Market Revenue and Forecast, by End User (2017-2030)
14.1.5. Market Revenue and Forecast, by Nominal Power Output (2017-2030)
14.1.6. Market Revenue and Forecast, by Nominal Output Voltage (2017-2030)
14.1.7. U.S.
14.1.7.1. Market Revenue and Forecast, by Product (2017-2030)
14.1.7.2. Market Revenue and Forecast, by Connection (2017-2030)
14.1.7.3. Market Revenue and Forecast, by Phase (2017-2030)
14.1.7.4. Market Revenue and Forecast, by End User (2017-2030)
14.1.8. Market Revenue and Forecast, by Nominal Power Output (2017-2030)
14.1.8.1. Market Revenue and Forecast, by Nominal Output Voltage (2017-2030)
14.1.9. Rest of North America
14.1.9.1. Market Revenue and Forecast, by Product (2017-2030)
14.1.9.2. Market Revenue and Forecast, by Connection (2017-2030)
14.1.9.3. Market Revenue and Forecast, by Phase (2017-2030)
14.1.9.4. Market Revenue and Forecast, by End User (2017-2030)
14.1.10. Market Revenue and Forecast, by Nominal Power Output (2017-2030)
14.1.11. Market Revenue and Forecast, by Nominal Output Voltage (2017-2030)
14.1.11.1.
14.2. Europe
14.2.1. Market Revenue and Forecast, by Product (2017-2030)
14.2.2. Market Revenue and Forecast, by Connection (2017-2030)
14.2.3. Market Revenue and Forecast, by Phase (2017-2030)
14.2.4. Market Revenue and Forecast, by End User (2017-2030)
14.2.5. Market Revenue and Forecast, by Nominal Power Output (2017-2030)
14.2.6. Market Revenue and Forecast, by Nominal Output Voltage (2017-2030)
14.2.7.
14.2.8. UK
14.2.8.1. Market Revenue and Forecast, by Product (2017-2030)
14.2.8.2. Market Revenue and Forecast, by Connection (2017-2030)
14.2.8.3. Market Revenue and Forecast, by Phase (2017-2030)
14.2.9. Market Revenue and Forecast, by End User (2017-2030)
14.2.10. Market Revenue and Forecast, by Nominal Power Output (2017-2030)
14.2.10.1. Market Revenue and Forecast, by Nominal Output Voltage (2017-2030)
14.2.11. Germany
14.2.11.1. Market Revenue and Forecast, by Product (2017-2030)
14.2.11.2. Market Revenue and Forecast, by Connection (2017-2030)
14.2.11.3. Market Revenue and Forecast, by Phase (2017-2030)
14.2.12. Market Revenue and Forecast, by End User (2017-2030)
14.2.13. Market Revenue and Forecast, by Nominal Power Output (2017-2030)
14.2.14. Market Revenue and Forecast, by Nominal Output Voltage (2017-2030)
14.2.14.1.
14.2.15. France
14.2.15.1. Market Revenue and Forecast, by Product (2017-2030)
14.2.15.2. Market Revenue and Forecast, by Connection (2017-2030)
14.2.15.3. Market Revenue and Forecast, by Phase (2017-2030)
14.2.15.4. Market Revenue and Forecast, by End User (2017-2030)
14.2.16. Market Revenue and Forecast, by Nominal Power Output (2017-2030)
14.2.16.1. Market Revenue and Forecast, by Nominal Output Voltage (2017-2030)
14.2.17. Rest of Europe
14.2.17.1. Market Revenue and Forecast, by Product (2017-2030)
14.2.17.2. Market Revenue and Forecast, by Connection (2017-2030)
14.2.17.3. Market Revenue and Forecast, by Phase (2017-2030)
14.2.17.4. Market Revenue and Forecast, by End User (2017-2030)
14.2.18. Market Revenue and Forecast, by Nominal Power Output (2017-2030)
14.2.18.1. Market Revenue and Forecast, by Nominal Output Voltage (2017-2030)
14.3. APAC
14.3.1. Market Revenue and Forecast, by Product (2017-2030)
14.3.2. Market Revenue and Forecast, by Connection (2017-2030)
14.3.3. Market Revenue and Forecast, by Phase (2017-2030)
14.3.4. Market Revenue and Forecast, by End User (2017-2030)
14.3.5. Market Revenue and Forecast, by Nominal Power Output (2017-2030)
14.3.6. Market Revenue and Forecast, by Nominal Output Voltage (2017-2030)
14.3.7. India
14.3.7.1. Market Revenue and Forecast, by Product (2017-2030)
14.3.7.2. Market Revenue and Forecast, by Connection (2017-2030)
14.3.7.3. Market Revenue and Forecast, by Phase (2017-2030)
14.3.7.4. Market Revenue and Forecast, by End User (2017-2030)
14.3.8. Market Revenue and Forecast, by Nominal Power Output (2017-2030)
14.3.9. Market Revenue and Forecast, by Nominal Output Voltage (2017-2030)
14.3.10. China
14.3.10.1. Market Revenue and Forecast, by Product (2017-2030)
14.3.10.2. Market Revenue and Forecast, by Connection (2017-2030)
14.3.10.3. Market Revenue and Forecast, by Phase (2017-2030)
14.3.10.4. Market Revenue and Forecast, by End User (2017-2030)
14.3.11. Market Revenue and Forecast, by Nominal Power Output (2017-2030)
14.3.11.1. Market Revenue and Forecast, by Nominal Output Voltage (2017-2030)
14.3.12. Japan
14.3.12.1. Market Revenue and Forecast, by Product (2017-2030)
14.3.12.2. Market Revenue and Forecast, by Connection (2017-2030)
14.3.12.3. Market Revenue and Forecast, by Phase (2017-2030)
14.3.12.4. Market Revenue and Forecast, by End User (2017-2030)
14.3.12.5. Market Revenue and Forecast, by Nominal Power Output (2017-2030)
14.3.12.6. Market Revenue and Forecast, by Nominal Output Voltage (2017-2030)
14.3.13. Rest of APAC
14.3.13.1. Market Revenue and Forecast, by Product (2017-2030)
14.3.13.2. Market Revenue and Forecast, by Connection (2017-2030)
14.3.13.3. Market Revenue and Forecast, by Phase (2017-2030)
14.3.13.4. Market Revenue and Forecast, by End User (2017-2030)
14.3.13.5. Market Revenue and Forecast, by Nominal Power Output (2017-2030)
14.3.13.6. Market Revenue and Forecast, by Nominal Output Voltage (2017-2030)
14.4. MEA
14.4.1. Market Revenue and Forecast, by Product (2017-2030)
14.4.2. Market Revenue and Forecast, by Connection (2017-2030)
14.4.3. Market Revenue and Forecast, by Phase (2017-2030)
14.4.4. Market Revenue and Forecast, by End User (2017-2030)
14.4.5. Market Revenue and Forecast, by Nominal Power Output (2017-2030)
14.4.6. Market Revenue and Forecast, by Nominal Output Voltage (2017-2030)
14.4.7. GCC
14.4.7.1. Market Revenue and Forecast, by Product (2017-2030)
14.4.7.2. Market Revenue and Forecast, by Connection (2017-2030)
14.4.7.3. Market Revenue and Forecast, by Phase (2017-2030)
14.4.7.4. Market Revenue and Forecast, by End User (2017-2030)
14.4.8. Market Revenue and Forecast, by Nominal Power Output (2017-2030)
14.4.9. Market Revenue and Forecast, by Nominal Output Voltage (2017-2030)
14.4.10. North Africa
14.4.10.1. Market Revenue and Forecast, by Product (2017-2030)
14.4.10.2. Market Revenue and Forecast, by Connection (2017-2030)
14.4.10.3. Market Revenue and Forecast, by Phase (2017-2030)
14.4.10.4. Market Revenue and Forecast, by End User (2017-2030)
14.4.11. Market Revenue and Forecast, by Nominal Power Output (2017-2030)
14.4.12. Market Revenue and Forecast, by Nominal Output Voltage (2017-2030)
14.4.13. South Africa
14.4.13.1. Market Revenue and Forecast, by Product (2017-2030)
14.4.13.2. Market Revenue and Forecast, by Connection (2017-2030)
14.4.13.3. Market Revenue and Forecast, by Phase (2017-2030)
14.4.13.4. Market Revenue and Forecast, by End User (2017-2030)
14.4.13.5. Market Revenue and Forecast, by Nominal Power Output (2017-2030)
14.4.13.6. Market Revenue and Forecast, by Nominal Output Voltage (2017-2030)
14.4.14. Rest of MEA
14.4.14.1. Market Revenue and Forecast, by Product (2017-2030)
14.4.14.2. Market Revenue and Forecast, by Connection (2017-2030)
14.4.14.3. Market Revenue and Forecast, by Phase (2017-2030)
14.4.14.4. Market Revenue and Forecast, by End User (2017-2030)
14.4.14.5. Market Revenue and Forecast, by Nominal Power Output (2017-2030)
14.4.14.6. Market Revenue and Forecast, by Nominal Output Voltage (2017-2030)
14.5. Latin America
14.5.1. Market Revenue and Forecast, by Product (2017-2030)
14.5.2. Market Revenue and Forecast, by Connection (2017-2030)
14.5.3. Market Revenue and Forecast, by Phase (2017-2030)
14.5.4. Market Revenue and Forecast, by End User (2017-2030)
14.5.5. Market Revenue and Forecast, by Nominal Power Output (2017-2030)
14.5.6. Market Revenue and Forecast, by Nominal Output Voltage (2017-2030)
14.5.7. Brazil
14.5.7.1. Market Revenue and Forecast, by Product (2017-2030)
14.5.7.2. Market Revenue and Forecast, by Connection (2017-2030)
14.5.7.3. Market Revenue and Forecast, by Phase (2017-2030)
14.5.7.4. Market Revenue and Forecast, by End User (2017-2030)
14.5.8. Market Revenue and Forecast, by Nominal Power Output (2017-2030)
14.5.8.1. Market Revenue and Forecast, by Nominal Output Voltage (2017-2030)
14.5.9. Rest of LATAM
14.5.9.1. Market Revenue and Forecast, by Product (2017-2030)
14.5.9.2. Market Revenue and Forecast, by Connection (2017-2030)
14.5.9.3. Market Revenue and Forecast, by Phase (2017-2030)
14.5.9.4. Market Revenue and Forecast, by End User (2017-2030)
14.5.9.5. Market Revenue and Forecast, by Nominal Power Output (2017-2030)
14.5.9.6. Market Revenue and Forecast, by Nominal Output Voltage (2017-2030)
Chapter 15. Company Profiles
15.1. Omron Corporation
15.1.1. Company Overview
15.1.2. Product Offerings
15.1.3. Financial Performance
15.1.4. Recent Initiatives
15.2. ABB Ltd
15.2.1. Company Overview
15.2.2. Product Offerings
15.2.3. Financial Performance
15.2.4. Recent Initiatives
15.3. Mitsubishi Electric Corporation
15.3.1. Company Overview
15.3.2. Product Offerings
15.3.3. Financial Performance
15.3.4. Recent Initiatives
15.4. Siemens AG
15.4.1. Company Overview
15.4.2. Product Offerings
15.4.3. Financial Performance
15.4.4. Recent Initiatives
15.5. Schneider Electric SE
15.5.1. Company Overview
15.5.2. Product Offerings
15.5.3. Financial Performance
15.5.4. Recent Initiatives
15.6. SMA Solar Technology AG
15.6.1. Company Overview
15.6.2. Product Offerings
15.6.3. Financial Performance
15.6.4. Recent Initiatives
15.7. Delta Electronics Inc.
15.7.1. Company Overview
15.7.2. Product Offerings
15.7.3. Financial Performance
15.7.4. Recent Initiatives
15.8. SunPower
15.8.1. Company Overview
15.8.2. Product Offerings
15.8.3. Financial Performance
15.8.4. Recent Initiatives
15.9. Hitachi Hi-Rel Power Electronics Pvt. Ltd
15.9.1. Company Overview
15.9.2. Product Offerings
15.9.3. Financial Performance
15.9.4. Recent Initiatives
15.10. Power Electronics S.L.
15.10.1. Company Overview
15.10.2. Product Offerings
15.10.3. Financial Performance
15.10.4. Recent Initiatives
Chapter 16. Research Methodology
16.1. Primary Research
16.2. Secondary Research
16.3. Assumptions
Chapter 17. Appendix
17.1. About Us
17.2. Glossary of Terms
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