DUBLIN--(BUSINESS WIRE)--The "Inverter Market by Type (Solar Inverters, Non-solar Inverters), Output Power Rating, Output Voltage, Sales Channel (Direct, Indirect), End User (PV Plants, Residential, Commercial, Automotive), and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global inverter market is projected to grow from USD 12.8 billion in 2020 to USD 26.5 billion by 2025; it is expected to grow at a CAGR of 15.6% from 2020 to 2025.
The growth of the market is driven by a large inflow of investments in the renewable energy sector and rise in the number of residential solar rooftop installations. The power supplied by renewable energy sources such as solar and wind deals with issues related to supply and demand mismatch. Solar energy is highly dependent on external conditions; however, with the use of solar inverters, the issues of insufficient energy supply can be eliminated, thereby enabling end users to generate maximum electricity and release it to grids when required.
Thus, inverters solve the issues related to energy supply and demand mismatch and intermittent problems associated with renewable energy resources. Inverters have a long life. They enable optimum power generation and ensure scalability, flexibility, and safety of power devices. Solar inverters are widely used in applications that use renewable solar PV energy. The prolonged use of inverters to power different devices and systems installed in vehicles can create a strain on the batteries of vehicles and eventually leading to their failure. This is one of the restraining factors for the growth of the inverter market.
The solar inverters segment projected to hold a larger share of the inverter market than the non-solar inverters segment during the forecast period.
Micro inverters are plug-and-play compact solar inverter systems, which are installed beneath every solar panel in a solar array. The main function of these inverters is to convert DC power generated by solar panels into AC at each panel level and transmit it further either for direct use or to a grid. Micro inverters have been gaining traction owing to a number of benefits offered by them. For instance, they enable monitoring, as well as optimization of each solar panel individually to generate maximum power. This facilitates panel-level Maximum power point tracking (MPPT), thereby enabling end users to enhance the performance of their solar systems. Micro inverters have a simpler design and higher reliability than other types of inverters. The increase in the adoption of micro inverters is driving the growth of the solar inverter market at a significant pace.
The direct sales channel segment of the inverter market to grow at a higher CAGR than the indirect sales channels segment during the forecast period.
Inverters used by automotive and residential end users are easy to use and install. The inverters procured are mostly installed by end users themselves. Moreover, factors such as the increased global electric vehicle production and rise in the adoption of micro inverters and hybrid inverters that are integrated with small- or medium-sized rooftop solar installations by the residential and commercial end users contribute to the growth of the direct sales channel segment of the inverter market during the forecast period.
The solar inverter market in APAC projected to grow at the highest CAGR from 2020 to 2025.
The growth of the solar inverter market in APAC can be attributed to the increased demand for inverters from major countries such as China, India, Japan, and South Korea of the region. These countries have a significant potential for the growth of the heavy-duty industries. The solar inverter market in APAC is growing owing to the increased adoption of connector solutions in the commercial and residential sectors. The rising demand for inverters from the residential, automotive, and PV plants in India, China, and Japan is fueling the growth of the solar inverter market in APAC.
Reasons to Buy the Report:
- The report segments the market comprehensively, and provides the market size estimation for all segments and subsegments across different regions.
- The report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
- The report is expected to help stakeholders understand their competitors and gain insights to improve their position in the inverter market. The competitive landscape section describes the competitor ecosystem.
Key Topics Covered:
1.1 Study Objectives
1.2 Market Definition and Scope
1.3 Study Scope
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities in Inverter Market
4.2 Market, By Type
4.3 Market, By Output Power Rating
4.4 Market in APAC, By Country and End User
4.5 Market, By End User
4.6 Solar Inverter Market, By Country, 2019
5 Market Overview
5.2 Market Dynamics
6 Waveform-Based Classification of Inverters
6.2 Pure Sine Wave Inverters
6.3 Square Wave Inverters
6.4 Modified Sine Wave Inverters
7 Phase-Based Classification of Inverters
7.2 Three Phase
7.3 Single Phase
8 Inverter Market, By Type
8.2 Solar Inverters
8.3 Non-Solar Inverters
9 Inverter Market, By Output Power Rating
9.2 Below 10 kW
9.3 10-50 kW
9.4 50-100 kW
9.5 Above 100 kW
10 Inverter Market, By Output Voltage
10.2 100-300 V
10.3 300-500 V
10.4 Above 500 V
11 Inverter Market, By Sales Channel
11.2 Direct Sales Channel
11.3 Indirect Sales Channel
12 Inverter Market, By End User
12.4 PV Plants
13 Geographic Analysis
13.2 North America
14 Competitive Landscape
14.2 Competitive Analysis
14.3 Competitive Leadership Mapping, 2019
14.4 Competitive Situation and Trends
15 Company Profiles
15.1 Key Players
15.1.1 Huawei Technologies
15.1.2 Sungrow Power Supply
15.1.3 SMA Solar Technology
15.1.4 Power Electronics
15.1.6 Solaredge Technologies
15.1.7 Fronius International
15.1.8 Altenergy Power System
15.1.9 Enphase Energy
15.1.10 Darfon Electronics
15.3 Other Players
15.3.2 Delphi Technologies
15.3.3 Sensata Technologies
15.3.4 Samlex Europe
15.3.6 General Electric
15.3.7 Schneider Electric
15.3.9 Toshiba Mitsubishi-Electric Industrial Systems Corporation
15.3.10 Delta Electronics
15.3.11 Yaskawa Solectria Solar
15.3.13 Kaco New Energy
15.3.14 Growatt New Energy
15.3.15 Tbea Xinjiang Sunoasis
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