Solar Inverters Market 2019-2025
New Market Study, Report “Solar Inverters Market 2019 Global Industry Demand, Opportunities, Growth Drivers, Challenges, Strategies and Forecasts 2025” Has been Added on WiseGuyReports.com.
A Global Outlook on the Solar Inverter Market 2019
This report provides in depth study of “Solar Inverters Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Solar Inverters Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.
Due to the depleting energy sources, the world is looking for alternative sources today. There is an increasing prevalence of alternative energy resources and growing technological innovations in the space. As solar power is gaining importance in the residential as well as the commercial sector, the demand for a Solar Inverter has been constantly on the rise. It is widely accepted due to its property to instantaneously convert DC output into an AC current while connected to an on-grid system.
The global solar inverters market has been experiencing growth in the past few years, and it is estimated that the market will continue to grow in the same way in the coming years too. This is primarily due to increased government support and rising concerns about environmental pollution.
When it comes about the key players of the industry, the names like ABB, Chint Power Systems America, Darfon Electronics, Delta Energy Systems, Eaton, Elettronica Santerno, Enphase Energy, Fronius International, Fuji Electric Europ, GE Power, Ginlong Technologies etc. do appear at the front Row.
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The solar inverter segment can be segmented based on type and application.
Based on type, the market can be divided into:
- Strong Solar Inverter
- Micro Solar Inverter
- Central Solar Inverter
Among these, the central inverter segment has the largest market share and is expected to grow with the highest CAGR in the coming years.
Based on application of the inverter, the market can be segmented into:
The utilities segment is currently dominating the market and is also expected to dominate the market in the coming years.
The solar inverter market is regionally divided into the following –North America, Europe, China, Japan, South East Asia and India. Among these regions, Asia Pacific dominates the market with China having the largest market share. The main reason for this is that developing nations like China and India frequently face intermittent power outages, and this has resulted in a demand for solar inverters. Also, there are some government-funded initiatives like India’s National Solar Mission that is driving the solar inverter market towards further growth.
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With the market for solar inverters picking up in the past few years, there is a lot of ongoing research and development to improve the inverter performances and improved service through innovations. A leading player in the field has introduced an inverter that makes use of a single switching transistor and gives the consumers a wide range of voltage levels. Another company has introduced many solar inverter products that have power optimised gauges to track power point and voltage management separately.
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