PV Inverter Market revenue to cross USD 27 Bn by 2028: Global Market Insights Inc.

SELBYVILLE, Del., Feb. 7, 2022 /PRNewswire/ -- The PV inverter market size is anticipated to record a valuation of USD 27 billion by 2028, according to the most recent study by Global Market Insights Inc. Stable grid modernization along with stringent clean energy targets will augment the market growth.

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Growing investments in numerous small & large-scale sustainable energy integrations across economically developing regions will increase the shares of global renewable energy mix. Moreover, surging concerns regarding carbon emissions along with the incorporation of advanced energy infrastructure, followed by the growing electricity demand will further drive the market expansion in the coming years.

The single-phase segment is projected to gain high momentum on account of the increasing applicability toward residential & commercial buildings. Positive government regulations & norms along with the integration of advanced energy infrastructure will stimulate the product implementation.

Upgraded micro grid networks to endure the high electricity demand from emerging countries combined with advanced distribution technologies will complement the product adoption. These products will positively influence the industry landscape owing to their reliability, low energy cost, cybersecurity, and automated energy management.

Rising customer demand and the regulatory focus on implementing solar technologies will impel the > 110 kW PV inverter market value. Its voltage range, durability, and better applicability will further complement product deployments. For instance, in July 2021, Solis delivered 110 kW inverters for rooftop PV system installations at Faerch Plast, a plastic manufacturer.

Middle East & Africa PV inverter market is anticipated to reach USD 8.4 billion by 2028 due to the large-scale renewable integration prospects along with the reformation & refurbishing of existing electrical infrastructure to foster the productivity of these products. For instance, in July 2021, The SAPIA welcomed Enertronica Santerno's decision to increase its solar PV component manufacturing capacity in South Africa to meet the higher industry demands.

The COVID-19 outbreak has obstructed the growth of the PV inverter market significantly. The virus has impacted major countries, thereby curbing business expansion. However, it has been anticipated that the industry is set to recover its strength to balance out these impacts in the coming years.

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Major participants operating in the market are General Electric, KACO New Energy, SolarMax, Yaskawa, Chint Group, Fimer, SatCon, Power Electronics, Siemens AG, Delta, Emerson Electric, Omron, and Huawei.

Table of Contents (ToC) of the report:

Chapter 3 PV Inverter Market Insights

3.1  Industry ecosystem analysis

3.1.1  Vendor Matrix

3.2  Innovation & technology landscape

3.3  Regulatory landscape

3.4  COVID– 19 impact on the industry outlook

3.4.1  Top countries impacted by COVID- 19

3.4.2  Overall Scenario

3.5  Industry impact forces

3.5.1  Growth drivers

3.5.2  Industry pitfalls & challenges

3.6  Growth potential analysis

3.7  Porter's Analysis

3.7.1  Bargaining power of suppliers

3.7.2  Bargaining power of buyers

3.7.3  Threat of new entrants

3.7.4  Threat of substitutes

3.8  Competitive landscape, 2021

3.8.1  Strategy dashboard

3.9  PESTLE Analysis

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About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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SOURCE Global Market Insights Inc.