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Photovoltaic (PV) Inverters: Global Strategic Business Report

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    Report

  • 278 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 2255365

Global Photovoltaic (PV) Inverters Market to Reach $19.8 Billion by 2030

The global market for Photovoltaic (PV) Inverters estimated at US$9.3 Billion in the year 2022, is projected to reach a revised size of US$19.8 Billion by 2030, growing at a CAGR of 9.9% over the analysis period 2022-2030. Central Inverter, one of the segments analyzed in the report, is projected to record 10.7% CAGR and reach US$9.9 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the String Inverter segment is readjusted to a revised 8.2% CAGR for the next 8-year period.

The U.S. Market is Estimated at $2.5 Billion, While China is Forecast to Grow at 15.6% CAGR

The Photovoltaic (PV) Inverters market in the U.S. is estimated at US$2.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$5 Billion by the year 2030 trailing a CAGR of 15.6% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.7% and 8.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6% CAGR.

Select Competitors (Total 52 Featured) -

  • ABB Ltd.
  • Elettronica Santerno S.p.A
  • Enphase Energy Inc.
  • Fronius International GmbH
  • Ingeteam Corporacion, S.A.
  • KACO new energy GmbH
  • Sineng
  • SMA Solar Technology AG
  • Sungrow Power Supply
  • TMEIC

What's New?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and Research Platform
  • Complimentary updates for one year

Frequently Asked Questions about the Global Market for Photovoltaic (PV) Inverters

What is the estimated value of the Global Market for Photovoltaic (PV) Inverters?

The Global Market for Photovoltaic (PV) Inverters was estimated to be valued at $8 Billion in 2020.

What is the growth rate of the Global Market for Photovoltaic (PV) Inverters?

The growth rate of the Global Market for Photovoltaic (PV) Inverters is 9.1%, with an estimated value of $14.7 Billion by 2027.

What is the forecasted size of the Global Market for Photovoltaic (PV) Inverters?

The Global Market for Photovoltaic (PV) Inverters is estimated to be worth $14.7 Billion by 2027.

Who are the key companies in the Global Market for Photovoltaic (PV) Inverters?

Key companies in the Global Market for Photovoltaic (PV) Inverters include ABB Ltd., Elettronica Santerno S.p.A, Enphase Energy Inc., Fronius International GmbH, Ingeteam Corporacion, S.A., KACO new energy GmbH, Sineng, SMA Solar Technology AG, Sungrow Power Supply and TMEIC.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Photovoltaic Energy & Inverters: A Primer
  • Recent Market Activity
  • Outlook
  • Demand by End-Use
  • Competition
  • Asian Companies Gain Share from European Counterparts
  • Power Supplies and UPS Vendors Latch onto PV Inverter Success
  • Solar Energy Demand Metrics
  • Aging PV Systems Power Replacement Demand
  • Changing Market Dynamics Impact Prices of PV Inverters
  • Tariff Charges Could Trip PV Installation Growth
  • Asia and the US Emerge as New Nerve Centers for Photovoltaic Inverters Market
  • Technological Advancements Power Next Generation Solar Power Inverters
  • Demand on Rise for 'Smart' PV Inverters
  • Rise of Virtual Power Plants Propel Smart Inverters Market
  • Micro Inverters Gain Edge
  • Reliable, Continuous Power Supply Propel String Inverter Market Growth
  • Demand on Rise for Small 3-Phase String and Megawatt PV Inverters
  • Manufacturers Roll out More 1,500V Inverters
  • Photovoltaic (PV) Inverters - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
  • ABB Ltd. (Switzerland)
  • Chint Power Systems America (USA)
  • Darfon Electronics Corp. (Taiwan)
  • Delta Energy Systems, Inc. (Australia)
  • Eaton Corporation Plc (Ireland)
  • Elettronica Santerno S.p.A. (Italy)
  • Enphase Energy (USA)
  • Fronius International GmbH (Austria)
  • Fuji Electric Europe GmbH (Germany)
  • GE Power (USA)
  • Ginlong Technologies (China)
  • Growatt New Energy Technology Co., Ltd. (China)
  • Huawei Technologies Co. Ltd. (China)
  • Ingeteam Corporacion, S.A. (Spain)
  • KACO new energy, Inc. (USA)
  • Mitsubishi Electric (Japan)
  • SolarEdge Technologies, Inc. (Israel)
  • Schneider Electric SE (France)
  • Sineng Electric Co., Ltd. (China)
  • TBEA Xinjiang Sunoasis Co., Ltd. (TBEA Sunoasis Co., Ltd.) (China)
  • SMA Solar Technology AG (Germany)
  • Sungrow Power Supply Co., Ltd (China)
  • TMEIC Corporation (Japan)
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Photovoltaic (PV) Inverters by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 2: World Historic Review for Photovoltaic (PV) Inverters by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 3: World 16-Year Perspective for Photovoltaic (PV) Inverters by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2023 & 2030
  • Table 4: World Recent Past, Current & Future Analysis for Central Inverter by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 5: World Historic Review for Central Inverter by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 6: World 16-Year Perspective for Central Inverter by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 7: World Recent Past, Current & Future Analysis for String Inverter by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 8: World Historic Review for String Inverter by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 9: World 16-Year Perspective for String Inverter by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 10: World Recent Past, Current & Future Analysis for Micro Inverter by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 11: World Historic Review for Micro Inverter by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 12: World 16-Year Perspective for Micro Inverter by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 13: World Recent Past, Current & Future Analysis for On-Grid by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 14: World Historic Review for On-Grid by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 15: World 16-Year Perspective for On-Grid by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 16: World Recent Past, Current & Future Analysis for Off-Grid by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 17: World Historic Review for Off-Grid by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 18: World 16-Year Perspective for Off-Grid by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 19: World Recent Past, Current & Future Analysis for Three-Phase by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 20: World Historic Review for Three-Phase by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 21: World 16-Year Perspective for Three-Phase by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 22: World Recent Past, Current & Future Analysis for Single-Phase by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 23: World Historic Review for Single-Phase by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 24: World 16-Year Perspective for Single-Phase by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 25: World Recent Past, Current & Future Analysis for Utilities by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 26: World Historic Review for Utilities by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 27: World 16-Year Perspective for Utilities by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 28: World Recent Past, Current & Future Analysis for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 29: World Historic Review for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 30: World 16-Year Perspective for Residential by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 31: World Recent Past, Current & Future Analysis for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 32: World Historic Review for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 33: World 16-Year Perspective for Other End-Uses by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 34: World Photovoltaic (PV) Inverters Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
III. MARKET ANALYSIS
UNITED STATES
  • Photovoltaic (PV) Inverters Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
CANADA
JAPAN
  • Photovoltaic (PV) Inverters Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2023 (E)
CHINA
  • Photovoltaic (PV) Inverters Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
EUROPE
  • Photovoltaic (PV) Inverters Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
FRANCE
  • Photovoltaic (PV) Inverters Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2023 (E)
GERMANY
  • Photovoltaic (PV) Inverters Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2023 (E)
ITALY
UNITED KINGDOM
  • Photovoltaic (PV) Inverters Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2023 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Photovoltaic (PV) Inverters Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
AUSTRALIA
  • Photovoltaic (PV) Inverters Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2023 (E)
INDIA
  • Photovoltaic (PV) Inverters Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2023 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Photovoltaic (PV) Inverters Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2023 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Photovoltaic (PV) Inverters Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2023 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Photovoltaic (PV) Inverters Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2023 (E)
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • ABB Ltd.
  • Elettronica Santerno S.p.A
  • Enphase Energy Inc.
  • Fronius International GmbH
  • Ingeteam Corporacion, S.A.
  • KACO new energy GmbH
  • Sineng
  • SMA Solar Technology AG
  • Sungrow Power Supply
  • TMEIC