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India PV Inverter`s Market Outlook, 2021

  • ID: 3345011
  • Report
  • August 2015
  • Region: India
  • 126 Pages
  • Bonafide Research
OFF
until Mar 31st 2022
Micro inverter technology to take possession of 15% of the India PV Inverter Market by 2021

FEATURED COMPANIES

  • ABB
  • AEG
  • Bonfigllioli
  • Power One
  • Schnieder
  • SMA Solar
Photovoltaic (PV) inverter performs the conversion of the variable DC output of the PV module into a clean sinusoidal 50 or 60 Hz AC current that is then applied directly to the commercial electrical grid or to a local, off-grid electrical network. The PV inverter is the cornerstone for PV system design and installation. The PV inverter has a relatively small amount of installed system costs, but this may be the most important decision in the design of a PV system. This report is about the market size of the PV inverters in India and how is it going to help the economy of the country by providing back up of the power whenever needed. This report reveals how government is supporting the PV inverter market by providing subsidies and releasing state wise subsidies to achieve the grid parity in India. The report also reveals the trend in this industry is shifting to smart inverters and solar hybrid inverter in Indian power inverter market. The PV Inverter market in India was estimated to grow with a decreasing CAGR from the year of 2009 to 2014. The market decreased because of the falling PV prices. The manufacturing ecosystem for these products is quite mature while technological requirements of PV Inverter manufacturing are greater than the manufacturing and design capabilities present in India currently. Some of the major players in the PV inverters market are SMA Solar, Bonfiglioli, and Power One. Steady demand from the home and SOHO segments and the increasing government support towards renewable energy is expected to buttress the growth of the inverter market. The unorganized segment had a large share of the PV inverter market till 2012, though its share has been declining lately due to enhanced consumer awareness. According to “India PV Inverter Market Outlook, 2021”, the market for PV inverters in India is expected to grow with a continuously increasing CAGR of 4.74% from 2015 to 2021. Central Inverters are the major market share acquirers of the inverter market. Micro-inverters are also forecasted to increase its share technology wise. Residential segment is the new target of the inverter industry. The unorganized sector which was leading the market till 2012 is forecasted to shrink in the coming years. New entrants are also increasing and their revenue share is expected to grow over the forecasted period, owing to their expansion plans and widening of dealership networks.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • ABB
  • AEG
  • Bonfigllioli
  • Power One
  • Schnieder
  • SMA Solar
1. Executive Summary 2. Global Renewable Inverter Market Outlook 2.1. Market Size 2.1.1. By Value 2.1.1.1. Overall Market 2.1.1.2. By End User Segment 2.1.1.3. By Region 2.1.1.4. By Technology 2.1.1.5. By Average Selling Price 2.1.1.6. By Revenue from Semiconductor 2.1.2. By Volume 2.1.2.1. Overall Market 2.1.2.2. By Global Installation 2.1.2.3. By Shipment 2.1.2.4. By Shipment By Country 2.1.3. Market Share 2.1.3.1. By Region 2.1.3.2. By Company 2.1.3.3. By End User Segment 2.1.3.4. By Technology 2.1.3.5. By Shipments By Country 3. India Renewable Inverter Market Outlook 3.1. Market Size 3.1.1. By Value 3.1.1.1. Overall Market 3.1.1.2. By Average Selling Price 3.1.1.3. By Revenue form MOSFET 3.1.2. By Volume 3.1.2.1. By Total Installed Capacity 3.1.2.2. By End User Segment 3.1.2.3. By Technology 3.1.2.4. By Company By Sales(MW) 3.1.3. Market Share 3.1.3.1. By Region 3.1.3.2. By Company 3.1.3.3. By Technology 3.1.3.4. By End User Segment 3.1.3.5. By Company By Type 3.1.3.6. By Company By End User Segment 3.2. Production 3.3. Pricing Analysis 4. Indian Economic Profile 5. Raw Material 6. Certifications 7. Organized Vs Unorganized Market 8. PEST Analysis 9. Solar PV Inverter’s Trade Dynamics 9.1. Imports 9.2. Export 10. Market Dynamics 10.1. Key Drivers 10.2. Key Challenges 11. Market Trends & Developments 11.1. Smart Inverters 11.2. Neutral-Point-Clamped (NPC) Architecture 11.3. Technological Trends 11.4. Solar Hybrid Inverters 12. Competitive Landscape 12.1. Porters Five Forces 12.2. Company Profiles 12.2.1. SMA Solar 12.2.2. ABB 12.2.3. AEG 12.2.4. Power One 12.2.5. Su- Kam 12.2.6. Schnieder 12.2.7. Bonfigllioli 13. Strategic Recommendations 14. Disclaimer
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • ABB
  • AEG
  • Bonfigllioli
  • Power One
  • Schnieder
  • SMA Solar
Maximum Power Point Tracking (MPPT), Longer Warranty, Improved Safety, Performance Reports, Easily Expandable, Individual Optimization features are responsible for the shift of the technology from Central Inverters to Micro Inverters in India. According to the report “India PV Inverter Outlook 2021”, Central inverters have dominated the solar industry since its initiation. The introduction of micro-inverters marks one of the biggest technology shifts in the PV industry to date. Manufacturers are touting 5-25% increase in power output, which in the long run can bring in a lot in savings for many homeowners. Although micro-inverters have been available since 1993, Enphase Energy is regarded as the company that first built a commercially successful micro-inverter. More than one million units of the Enphase M175 have been sold since its release in 2008. Several other companies in the solar industry have followed suit and launched their own micro-inverters, validating their potential. A solar micro-inverter, or simply micro inverter, is a device used in photovoltaics that converts direct current (DC) generated by a single solar module to alternating current (AC). The output from several micro inverters is combined and often fed to the electrical grid. Micro inverters contrast with conventional string and central solar inverters, which are connected to multiple solar modules or panels of the PV system. Micro inverters have several advantages over conventional inverters. The main advantage is that small amounts of shading, debris or snow lines on any one solar module, or even a complete module failure, do not disproportionately reduce the output of the entire array. Each micro inverter harvests optimum power by performing maximum power point tracking for its connected module. Simplicity in system design, simplified stock management, and added safety are other factors introduced with the micro inverter solution. Micro inverter technology offers several advantages over conventional systems with string inverters, the main advantage being, even small amounts of shading, dust, snow or debris on any one solar panel, or a panel failure, does not disproportionately reduce the output of an entire array. Each micro-inverter obtains optimum power by performing maximum power point tracking for its connected panel, thus improving efficiency. Primary disadvantages of micro inverters are that they have a higher initial cost per peak watt than a central inverter, and secondly, as they are located near the panel, they may be harder to reach and maintain. But these problems are surpassed by their higher durability, efficiency and ease of installation. According to the analysts, many vendors are involved in technology development to give better service to their customers and increase their competency in the market
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A selection of companies mentioned in this report includes:

- ABB - AEG - Bonfigllioli - Power One - SMA Solar - Schnieder - Su-Kam
Note: Product cover images may vary from those shown