Solar Inverter Market 2018 Global Market Challenge, Driver, Trends & Forecast to 2023 - PowerPoint PPT Presentation

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Solar Inverter Market 2018 Global Market Challenge, Driver, Trends & Forecast to 2023

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Access Report Details @ Solar inverter plays an important role in a solar energy system. It converts DC power output into AC current which can be fed into the grid and directly influences the efficiency and reliability of a solar energy system. They are used in solar rooftop and ground-mounted residential, commercial and utility-scale systems, with system ratings of 3–10 kW, 10 kW–2 MW and 2 MW, respectively. – PowerPoint PPT presentation

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Title: Solar Inverter Market 2018 Global Market Challenge, Driver, Trends & Forecast to 2023


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Solar Inverter Market Research Report- Forecast
till 2023
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
REQUEST SAMPLE
VIEW REPORTS
3
Solar Inverter Market - 2023

Global Solar Inverter Market, By Type (Central,
String and Micro), By System Type (On-Grid,
Off-Grid), By End-Users (Residential, Commercial
and Utility) and Region - Forecast
2017-2023 Market Scenario Solar Inverter are
widely accepted owing to its property of
instantaneous conversion of DC power input to AC
current while connected to on-grid system. They
are used in solar rooftop and ground-mounted
residential, commercial and utility-scale
systems, with system ratings of 310 kW, 10 kW2
MW and gt 2 MW, respectively. The growing number
of solar power plants around the world, which are
to be connected with the grid through an on-grid
solar inverter, driving the market for solar
inverter in the forecast period. Also, growing
off-grid solar panel installation for commercial
industrial and residential use requires a
reliable and safe power source converter, which
is provided by solar inverter. All these factors
will drive for the growth in solar inverter
market. The major benefits for solar power
installation are, generation of free clean
electricity with the utilization of suns
abundant power, reduction in carbon footprint and
eventual reduction in electricity bills. Global
solar inverter market is expected to grow with
the CAGR of approximately 15.65 from 2017 to
2023, and with this it is predictable to cross
USD 24,507.3 million by 2023. Solar inverter are
segment into central, string and micro. Central
type inverter accounted for the largest share
with 45.12 in the global solar Inverter market.
String inverter type based solar inverter
accounted for 36.29 share in the same year. On
the basis of system type, On-Grid accounted for
the largest market share, it allows to use of
utility grid as a power storage medium instead of
a battery bank. On the basis of end user,
Utilities dominated the global solar Inverter
market with a share and expected to grow at a
CAGR of 16.85 during the forecast period.
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Solar Inverter Market - 2023
Regional Analysis Geographically, Asia-Pacific
is the largest power producer globally, and is
the largest market for renewable energy
generation across the globe. The solar inverter
market is emerging in countries such as China,
India, and Japan, and is estimated to grow at a
high rate in the forecast period. The continuous
growth in industrial commercial and utility
sector, requirement of high amount of
electricity, Government initiative for
utilization of renewable energy are some of the
factors pushing the market towards growth.
Asia-Pacific accounted for the largest market
share of 47.6 in 2016, followed by Europe which
is expected to grow at a CAGR of 19.14 during
the forecast period. In 2015, China, being the
world biggest carbon emitter, invested USD 102.9
billion in renewable energy, which accounted for
36 of world total. According to Institute for
Energy Economics and Financial Analysis (IEEFA),
China has increased its foreign investment in
renewables and solar by 60 percent to reach a
record USD 32 billion in 2017. Key Players The
major players operating in the market of global
solar inverter are ABB Ltd (Switzerland), SMA
Solar Technology AG (Germany), Canadian Solar
Inc. (Canada), SolarEdge Technologies Inc.
(Israel), SunPower Corporation (U.S.), Delta
Electronics, Inc. (Taiwan), Solectria Renewables,
LLC (U.S.), Sineng Electric Co., Ltd. (China),
Hitachi Hi-Rel Power Electronics Pvt. Ltd
(India), and Power electronics (Spain).
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Solar Inverter Market - 2023
Market Research Future Analysis Market Research
Future analysis states that the global market of
solar inverter market is estimated to grow at USD
24,507.3 million by the end of year 2023. One of
the primary drivers for the growth of solar
energy is the important part played by the
government initiatives and policies. Certain
policies such as solar energy production,
distribution and consumption, are developed by
governments to sustain growth. Solar energy
policies include legislation, international
treaties and incentives to investment such as the
formation incentives in the U.S. urbanization and
economic development are leading to a rapid rise
in energy demand in urban areas. Government are
setting targets and introducing polices for
promoting renewable energy as well as to reduce
carbon emissions. Increasing awareness regarding
fossil fuel conservation and clean fuel demand
will complement the industry growth Asia-Pacific
is the largest power producer globally, and is
the largest market for renewable energy
generation across the globe The Solar inverter
market is emerging in countries such as China,
India, and Japan, and is estimated to grow at a
high rate in the forecast period. The
Asia-Pacific market is leading the global solar
inverter market whereas the market in North
America Europe is expected to grow rapidly due
to increased domestic demand for solar
inverter. Market Highlights The global solar
inverter market is a very dynamic market and is
expected to witness high growth over the forecast
period. The growth of the solar panels market is
majorly influenced by the growing demand for
energy consumption around the world. Furthermore,
electricity produced by renewable sources is
clean, cost effective and renewable in nature. In
2015, China, being the world biggest carbon
emitter, invested USD 102.9 billion in renewable
energy, which accounted for 36 of world total.
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ABOUT US
MARKET RESEARCH FUTURE At Market Research Future
(MRFR), we enable our customers to unravel the
complexity of various industries through our
Cooked Research Report (CRR), Half-Cooked
Research Reports (HCRR), Raw Research Reports
(3R), Continuous-Feed Research (CFR), and Market
Research Consulting Services. MRFR team have
supreme objective to provide the optimum quality
market research and intelligence services to our
clients. Our market research studies by products,
services, technologies, applications, end users,
and market players for global, regional, and
country level market segments, enable our clients
to see more, know more, and do more, which help
to answer all their most important questions. In
order to stay updated with technology and work
process of the industry, MRFR often plans
conducts meet with the industry experts and
industrial visits for its research analyst
members. For more information kindly visit
www.marketresearchfuture.com or contact us at
info_at_marketresearchfuture.com Copyright 2018
Market Research Future All Rights Reserved. This
document contains highly confidential information
and is the sole property of Market Research
Future. No part of it may be circulated, copied,
quoted, or otherwise reproduced without the
written approval of Market Research Future.
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