PV Inverter Market in North America 2020 By Regional Trend, Revenue & Growth Forecast

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North America PV Inverter Market Size 2020 -
Industry Trends Report to 2026 Graphical Research
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North America PV Inverter Market Size is to
expand at significant CAGR through 2026. North
America PV Inverter Market is anticipated to grow
on account of adoption of renewable energy
resources along with the surging demand for
electricity. Ongoing replacement of conventional
energy storage systems along with refurbishment
of power grid infrastructure will propel the
industry scenario. Rising integration of
sustainable power sources across the gird network
coupled with favorable government measures and
subsidized solar energy units will foster the
product deployment. Three phase PV inverter
market is projected to witness significant growth
owing to flexible product specifications coupled
with ability of these units to operate across
industrial and utility sectors. Growing
installation of solar PV systems followed by
increasing number of solar PV projects will fuel
the product adoption. Moreover, applicability of
these units across on-grid and off-grid
facilities, offering monitoring and control
solutions will augment the product
deployment.   On-Grid PV inverters industry will
witness an upsurge owing to its ability to cater
to surging electricity demand across utility and
industrial sector. For instance, Kstar launched
an inverter series, grid-tied string for solar
rooftops providing low-temperature resistance,
reactive power control, and WiFi plugs. Ongoing
technological advancement followed by increasing
RD investments offering effective power supply
will complement the product demand.
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Micro PV inverter market is set to surge on
account of increasing focus toward deployment of
solar PV units across microgrid networks. Rising
environmental concerns followed by stringent
government mandates to reduce carbon emissions
will shift the manufacturers focus toward
installation of energy efficient conservation
measures. Ongoing re-structuring of conventional
electrical networks coupled with rapid
technological adoption which includes IoT based
solutions as well as two way communicating
systems will accelerate the product
demand.   Growing deployment of industrial solar
PV units owing to rising electricity demand
across the manufacturing and production segments
will foster the demand for 33,001 W - 111,000 W
PV inverters. Ongoing private and public
investments toward renewable grid integration
will enhance the North America PV inverter market
outlook. Furthermore, increasing mandates to
minimize the solar PV component and installation
cost followed by rising government funding to
deploy solar PV farms will complement the
business landscape.    Major manufacturers across
North America PV inverter market are aiming for
strategic alliances, joint ventures and MAs for
strengthening their market share in the industry.
Key players are Siemens AG, Emerson Electric,
Panasonic, General Electric, Enphase Energy and
Schneider Electric amongst others.
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