Solar Inverter Market: Industry Challenges, Opportunity Analysis, Growth by Leading International Manufacturers with its Applications by Forecast to 2023

Market Highlights:-

The global solar inverter market has experienced a potential growth over the past few year and it has been analyzed that the market will grow at the same pace during the forecast period. Solar inverter market looks promising during the forecast period due to the major driving factors such as growing solar systems installations, government initiatives and policies as well as reduction in carbon emission. However, the market also faces certain challenges such as high cost of solar inverter and high maintenance cost and others as well. Despite the challenges, there has been certain market trends that have pushed the market growth for solar inverter market such as power source in remote areas and also acting as a solar energy storage.

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. However, the high capital cost for installation is acts as a major barrier for the growth of the solar inverter market. The global solar inverter market is poised to grow over USD 24,507.3 million by 2023 at an estimated CAGR of 15.65% through the forecast period. 

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Industry Top Key Players:-

•  ABB Ltd 
• SMA Solar Technology AG 
• Canadian Solar Inc. 
• SolarEdge Technologies Inc. 
• SunPower Corporation 
• Delta Electronics, Inc. 
• Solectria Renewables, LLC
• Sineng Electric Co., Ltd.

Table of Content:-

1 EXECUTIVE SUMMARY

2 INTRODUCTION

3 RESEARCH METHODOLOGY

4 MARKET DYNAMICS

5 MARKET FACTOR ANALYSIS

6 GLOBAL SOLAR INVERTER MARKET, BY TYPE

7 GLOBAL SOLAR INVERTER MARKET, BY SYSTEM TYPE

8 GLOBAL SOLAR INVERTER MARKET, BY END-USER

8.1 Introduction 34

8.2 Residential 35

8.3 Commercial 36

8.4 Utilities 36

9 SOLAR INVERTER MARKET, BY REGION

9.1 Introduction 38

9.2 Asia-Pacific 39

9.2.1 China 42

9.2.2 Japan 44

9.2.3 India 45

9.2.4 Australia 47

9.2.5 Rest Of Asia-Pacific 49

9.3 Europe 51

9.3.1 Germany 53

9.3.2 Italy 55

9.3.3 U.K. 57

9.3.4 Spain 59

To be continued.........

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Regional Analysis:-

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.

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.