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Solar Inverter 2018 Market Size, Share, Growth Rate, Current Trends, Development Strategy | Industry Global Leaders Update and Demand by Forecast to 2023

“Global Solar Inverter Market Research Report - Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Published 27 June 2018

Market Highlights:-

Solar energy is recognised as the best substitute to other conventional fossil fuel energy sources which can be utilized to reduce carbon emission, by effectively meeting the electricity needs. Growing demand for green energy acts as a major driver for the growth of the market. Additionally, advances in technology have shifted generation of power to zero-carbon technologies such as expressively decreasing inverter size and weight while attaining record efficiency. With a growing number of investments in countries such as U.S., China, India and Japan with renewable targets and policies push the market towards growth. According to UN Environmental programme, year 2015 was a new record for the global investment in renewable energy with a total investment of USD 285.9 Billion. The clean technology energy generation accounted for more than 10% of the world’s electricity.

The U.S. Department of Energy has initiated nationwide effort to bring down the cost of solar electricity and to increase solar adoption. The policy also encourages research and development efforts to collaborate with public and private partners.

Industry Major Key Players:-

  • BMW Group 
  • Robert Bosch GmbH
  • Valeo SA
  • Cubic Corporation
  • Amco S.A.
  • Siemens AG, Xerox Corp.
  • Altiux Innovations
  • Continental AG 
  • CivicSmart, Inc.

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Solar Inverter Market – Segmentation

The Global Solar Inverter Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by Type                    : Comprises string inverter, central inverter, and micro inverter

Segmentation by System Type       : Comprises on-grid and off-grid

Segmentation by End-User            : Comprises residential, commercial, and utilities

Segmentation by Regions               : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

Industry News:

Key strategies followed by most companies within the global Solar Inverter market were merger & expansion.

On September 2017, ABB Ltd. has signed contracts with FRV, a leading global utility-scale solar developer, for the supply of central inverter solutions for two PV power plants in Jordan. The company had developed various products such as TRIO string inverter, high-power central inverter, PVS800-57B and also takes significant step forward in optimizing solar energy usage. This development will diversify their product line and reach to the customer. Moreover, Company had extended its geographic reach and manufacturing capabilities by making contract with FRV, the leading player for the supply of central inverter solutions.

In 17 Jan, 2017, Canadian solar subsidiary recurrent energy announces commercial operation of two solar photovoltaic projects in California. On 30 Nov 2015. Canadian Solar Inc. announced that its wholly owned subsidiary, Recurrent Energy, one of North America's largest solar project developers, signed a partnership agreement with Southern Power, a subsidiary of Southern Company.

Table of Content;-

1 Executive Summary

2 Introduction 

3 Research Methodology

3.1 Research Process 15

3.2 Primary Research 16

3.3 Secondary Research 16

3.4 Market Size Estimation 16

3.5 Forecast Model 18

To be continued....

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Solar Inverter Market: Regional Analysis

Asia-Pacific is one of the largest markets for solar inverter in the world. There is an increasing demand for energy because of the growing population and rising disposable income in the region. Moreover, these rapidly growing economies in this region are also the top polluters in the world. Solar energy is identified as the best replacement to other conventional fossil fuel energy sources and is used to reduce carbon emission by effectively meeting the electricity needs. According to the National Energy Administration of China, in 2016, the installed PV capacity was 77.42 gigawatts and solar plants in the country generated 66.2 billion kilowatt-hours of power last year. The country has further plans to add 110 gigawatts within the next three years, which is driving the market for the solar Inverter in the country. Japan has plans to generate 24% of its energy from renewable energy sources by 2030 and solar energy is the top renewable energy source in the country. 

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