NEW YORK, Oct. 31, 2022 /PRNewswire/ -- The global solar central inverters market size is set to grow by USD 3.81 billion from 2021 to 2026, according to Technavio. Moreover, the growth momentum of the market is expected to accelerate at a CAGR of 15.43% during the forecast period. The solar central inverters market is attributed to the rising investment in renewables and the rising demand for energy.
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ABB Ltd., Delta Electronics Inc., Eaton Corp. Plc, Fimer SpA, Ginlong Technologies Co. Ltd., Hitachi Ltd., Huawei Technologies Co. Ltd., Infineon Technologies AG, Ingeteam SA, OCI Co. Ltd., Shenzen Growatt New Energy Technology Co. Ltd., Siemens AG, Sineng Electric Co. Ltd., SMA Solar Technology AG, SolarEdge Technologies Inc., Sungrow Power Supply Co. Ltd., Toshiba Corp., Yaskawa Solectria Solar, and Zhejiang CHINT Electrics Co. Ltd. are the key players in the market. The offerings of some of these vendors are listed below:
- ABB Ltd. - The company offers ABB central inverters PVS800 that are designed for fast and easy installation.
- Delta Electronics Inc. - The company offers Delta Grid Tied Central Inverters, which are suitable for multi-megawatt and utility-scale PV power plants.
- Eaton Corp. Plc - The company offers a complete range of monophase inverters from 1500 W up to 4600 W.
- Hitachi Ltd. - The company offers Hitachi Grid Tied Central Inverters, which are suitable for multi-megawatt and utility-scale PV power plants.
- Ingeteam SA - The company offers Full-Skid MV solution up to 7.2 MVA, which is available with 1,000V and 1,500V inverters.
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The rising investment in renewables is driving market growth. Renewable energy plays a key role in the global shift toward attaining a sustainable and low carbon-intensive environment. Government regulations have resulted in the significant adoption of clean energy technologies across the world. The proliferation of clean energy technologies is further fueled by the rise in investments. There has been a drastic change in the global energy mix during the past two decades. The growth in the renewable energy sector globally is attributed to the competitive price of power generation, along with subsidies provided by governments and favorable regulations. Thus, the use of renewable energy sources has been increasing rapidly due to increasing government support and investments. These factors will eventually fuel the adoption of solar PV systems, which is increasing the demand for solar central inverters.
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- Utility - size and forecast 2021-2026
- Non-utility - size and forecast 2021-2026
- APAC - size and forecast 2021-2026
- Europe - size and forecast 2021-2026
- North America - size and forecast 2021-2026
- South America - size and forecast 2021-2026
- Middle East and Africa - size and forecast 2021-2026
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The market share growth by the utility segment will be significant during the forecast period. Utility-scale projects have gained large traction in recent years because of the focus on sustainable sources. The increasing demand for electricity owing to the rise in population will propel the utility segment of the global solar central inverters market.
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Solar Central Inverters Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 15.43% |
Market growth 2022-2026 |
USD 3.81 billion |
Market structure |
Fragmented |
YoY growth (%) |
14.9 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 56% |
Key consumer countries |
US, China, Vietnam, Japan, Australia |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Key companies profiled |
ABB Ltd., Delta Electronics Inc., Eaton Corp. Plc, Fimer SpA, Ginlong Technologies Co. Ltd., Hitachi Ltd., Huawei Technologies Co. Ltd., Infineon Technologies AG, Ingeteam SA, OCI Co. Ltd., Shenzen Growatt New Energy Technology Co. Ltd., Siemens AG, Sineng Electric Co. Ltd., SMA Solar Technology AG, SolarEdge Technologies Inc., Sungrow Power Supply Co. Ltd., Toshiba Corp., Yaskawa Solectria Solar, and Zhejiang CHINT Electrics Co. Ltd. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Application
- 5.1 Market segments
- Exhibit 24: Chart on Application - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
- 5.2 Comparison by Application
- Exhibit 26: Chart on Comparison by Application
- Exhibit 27: Data Table on Comparison by Application
- 5.3 Utility - Market size and forecast 2021-2026
- Exhibit 28: Chart on Utility - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Utility - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Utility - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Utility - Year-over-year growth 2021-2026 (%)
- 5.4 Non-utility - Market size and forecast 2021-2026
- Exhibit 32: Chart on Non-utility - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Non-utility - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Non-utility - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Non-utility - Year-over-year growth 2021-2026 (%)
- 5.5 Market opportunity by Application
- Exhibit 36: Market opportunity by Application ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 38: Chart on Market share by geography 2021-2026 (%)
- Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 40: Chart on Geographic comparison
- Exhibit 41: Data Table on Geographic comparison
- 7.3 APAC - Market size and forecast 2021-2026
- Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.4 Europe - Market size and forecast 2021-2026
- Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.5 North America - Market size and forecast 2021-2026
- Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.6 South America - Market size and forecast 2021-2026
- Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.8 China - Market size and forecast 2021-2026
- Exhibit 62: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.9 US - Market size and forecast 2021-2026
- Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.10 Vietnam - Market size and forecast 2021-2026
- Exhibit 70: Chart on Vietnam - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on Vietnam - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on Vietnam - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on Vietnam - Year-over-year growth 2021-2026 (%)
- 7.11 Japan - Market size and forecast 2021-2026
- Exhibit 74: Chart on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on Japan - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on Japan - Year-over-year growth 2021-2026 (%)
- 7.12 Australia - Market size and forecast 2021-2026
- Exhibit 78: Chart on Australia - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on Australia - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on Australia - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on Australia - Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 82: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 83: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 85: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 86: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 87: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 88: Matrix on vendor position and classification
- 10.3 ABB Ltd.
- Exhibit 89: ABB Ltd. - Overview
- Exhibit 90: ABB Ltd. - Business segments
- Exhibit 91: ABB Ltd. - Key offerings
- Exhibit 92: ABB Ltd. - Segment focus
- 10.4 Delta Electronics Inc.
- Exhibit 93: Delta Electronics Inc. - Overview
- Exhibit 94: Delta Electronics Inc. - Business segments
- Exhibit 95: Delta Electronics Inc. - Key offerings
- Exhibit 96: Delta Electronics Inc. - Segment focus
- 10.5 Eaton Corp. Plc
- Exhibit 97: Eaton Corp. Plc - Overview
- Exhibit 98: Eaton Corp. Plc - Business segments
- Exhibit 99: Eaton Corp. Plc - Key news
- Exhibit 100: Eaton Corp. Plc - Key offerings
- Exhibit 101: Eaton Corp. Plc - Segment focus
- 10.6 Hitachi Ltd.
- Exhibit 102: Hitachi Ltd. - Overview
- Exhibit 103: Hitachi Ltd. - Business segments
- Exhibit 104: Hitachi Ltd. - Key news
- Exhibit 105: Hitachi Ltd. - Key offerings
- Exhibit 106: Hitachi Ltd. - Segment focus
- 10.7 Ingeteam SA
- Exhibit 107: Ingeteam SA - Overview
- Exhibit 108: Ingeteam SA - Product / Service
- Exhibit 109: Ingeteam SA - Key offerings
- 10.8 OCI Co. Ltd.
- Exhibit 110: OCI Co. Ltd. - Overview
- Exhibit 111: OCI Co. Ltd. - Business segments
- Exhibit 112: OCI Co. Ltd. - Key offerings
- Exhibit 113: OCI Co. Ltd. - Segment focus
- 10.9 Sineng Electric Co. Ltd.
- Exhibit 114: Sineng Electric Co. Ltd. - Overview
- Exhibit 115: Sineng Electric Co. Ltd. - Product / Service
- Exhibit 116: Sineng Electric Co. Ltd. - Key offerings
- 10.10 SMA Solar Technology AG
- Exhibit 117: SMA Solar Technology AG - Overview
- Exhibit 118: SMA Solar Technology AG - Business segments
- Exhibit 119: SMA Solar Technology AG - Key offerings
- Exhibit 120: SMA Solar Technology AG - Segment focus
- 10.11 Sungrow Power Supply Co. Ltd.
- Exhibit 121: Sungrow Power Supply Co. Ltd. - Overview
- Exhibit 122: Sungrow Power Supply Co. Ltd. - Product / Service
- Exhibit 123: Sungrow Power Supply Co. Ltd. - Key offerings
- 10.12 Zhejiang CHINT Electrics Co. Ltd.
- Exhibit 124: Zhejiang CHINT Electrics Co. Ltd. - Overview
- Exhibit 125: Zhejiang CHINT Electrics Co. Ltd. - Product / Service
- Exhibit 126: Zhejiang CHINT Electrics Co. Ltd. - Key offerings
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 127: Inclusions checklist
- Exhibit 128: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 129: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 130: Research methodology
- Exhibit 131: Validation techniques employed for market sizing
- Exhibit 132: Information sources
- 11.5 List of abbreviations
- Exhibit 133: List of abbreviations
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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