Research Nester has released a report titled “PV Inverter Market – Global Demand Analysis & Opportunity Outlook 2027” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
Solar PV generation around the world grew by 31% to reach 570.8 TWh in the year 2018 from the year 2017, as per the statistics by International Energy Association (IEA).
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The goals postulated under the Sustainable Development Scenarios (SDS) of the IEA have envisioned solar PV electricity generation to around 3268 TWh in the year 2018. Concerns in regard to the depletion of natural resources as well as the exploitation done by human to the limited available natural resources, is raising the demand for shifting the focus of production of energy from natural resources to renewable sources of energy. As such, consumers and governments across the globe are helping to raise the deployment of solar PV cells for the generation of electricity. The rising deployment of solar panels across the globe is anticipated to impact the need for PV inverters which is considered as the accompanying part of the overall solar equipment system.
The global PV inverter market is anticipated to record robust CAGR over the forecast period, i.e. 2019-2027. The market is segmented by power class into single phase and three phase. Among these segments, single phase PV inverter segment is anticipated to hold the largest market share owing to greater deployment of single phase distribution system across the globe and low cost of single phase PV inverters.
Geographically, the global PV inverter market is segmented by five major regions into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa region, out of which, Asia-Pacific is anticipated to hold largest market share owing to the increasing investments contributed by nations such as China, India and Vietnam among others towards the growing solar generation capacity by means of various solar projects in the region. China generated a total of 75.3 billion kilowatthours worth solar electricity in the year 2016, achieving the tag of world’s highest solar electricity generation nation, according to the statistics by The U.S. Energy Information Administration (EIA).
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However, rising concerns for lowering revenues owing to the lowering prices of solar equipment, affected by the increasing government subsidies, is estimated to act as a barrier to the growth of the global PV inverter market.
This report also studies existing competitive scenario of some of the key players of the global PV inverter market, which includes profiling of SMA Solar Technology AG (ETR: S92), Schneider Electric (EPA: SU), Delta Electronics, Inc. (TPE: 2308), KACO new energy GmbH, Huawei Technologies Co., Ltd., FIMER SpA, General Electric (NYSE: GE), Sungrow (SHE: 300274), Tabuchi Electric Co. Ltd., and Panasonic (TYO: 6752).
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “PV Inverter Market – Global Demand Analysis & Opportunity Outlook 2027”, analyses the overall global PV inverter industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global PV inverter market in the near future.
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