SHERIDAN, WYOMING, UNITED STATES, October 20, 2022 /EINPresswire.com/ -- According to IMARC Group’s latest research report, titled “Solar PV Inverter Market Analysis: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios. The global solar PV inverter market reached a value of US$ 7.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 9.7 Billion by 2027, exhibiting a CAGR of 4.83% during 2022-2027.

A solar photovoltaic (PV) inverter is one of the essential elements of a solar electric power plant. It comprises solar panels and electrical and mechanical hardware that converts direct current (DC) from solar panels to alternating current (AC). It maximizes electricity production by constantly varying the resistance while ensuring to adhere to regulations about feeding electricity into the grid. Consequently, it is widely utilized to generate green and clean energy and reduce air pollution levels and greenhouse gas emissions. There has been a considerable increase in the adoption of solar PV inverters across the globe as it is versatile, easy to install and noise-free with low maintenance costs compared to other renewable energy systems.

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Global Solar PV Inverter Industry Demand Analysis:

The growing demand for sustainable power sources is driving the global market. This can be supported by increasing environmental concerns regarding greenhouse emissions. Along with this, rapid development in the renewable energy sector due to the growing awareness regarding the importance of solar and other renewable energy sources in reducing pollution level is impacting the market growth favorably. Moreover, continual technological advancements in solar PV inverters are significantly supporting the market globally. Other factors, including the increasing need for rural electrification, the rising adoption of solar panels and growing investments by leading manufacturers in extensive research and development (R&D) activities to introduce improved variants, are also positively influencing the market growth.

Top Brands in Global Solar PV Inverter Industry:

• ABB Ltd, Schneider Electric SE
• Siemens AG
• Mitsubishi Electric Corporation
• Omron Corporation
• General Electric Company
• SMA Solar Technology AG
• Delta Energy Systems Inc.
• Enphase Energy Inc.
• SolarEdge Technologies Inc.
• Huawei Technologies Co. Ltd
• Kstar New Energy Co. Ltd
• Sineng Electric Co. Ltd
• Sungrow Power Supply Co Ltd
• Tabuchi Electric Co. Ltd
• TBEA Sunoasis Co. Ltd
• Toshiba Corporation

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Key Market Segmentation:

Breakup by Technology:

• central inverter
• string inverter
• microinverter
• others

Breakup by Application:

• utility scale
• residential scale
• small commercial scale
• large commercial scale
• industrial scale

Breakup by voltage:

• < 1,000 V
• 1,000 – 1,499 V
• > 1,500 V

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other

TOC for the Solar PV Inverter Market Research Report:

• Preface
• Scope and Methodology
• Executive Summary
• Introduction
• Global Solar PV Inverter Market
• SWOT Analysis
• Value Chain Analysis
• Price Analysis
• Competitive Landscape

Who we are:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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IMARC Services Private Limited
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