Global Solar PV Inverters Market - Analysis of Growth, Trends and Forecasts (2018 - 2023)

  • ID: 4402758
  • Report
  • Region: Global
  • 145 Pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • ABB Ltd.
  • Enphase Energy Inc.
  • Kstar New Energy Co. Ltd.
  • Schneider Electric SE
  • Sineng Electric Co. Ltd.
  • Tabuchi Electric Co. Ltd.
  • MORE
The solar PV inverters market is expected to witness considerable demand during the forecast period due to the increasing growth in the solar PV market. Till date, most of the growth in the solar PV inverters market has come from commercial and industrial customers; however, many residential installations are also taking place. Several countries have recently introduced net-metering policies and are supporting the roll-out of projects. These measures are likely to carry the solar PV inverter market forward in the immediate future, as will favorable economics due to high power tariffs.

Japan saw growing demand in the residential sector, which accounted for 11.8% of new installations in 2016. Additionally, countries, such as Pakistan, and Nigeria, with their large populations and unreliable grid power supply, are among the emerging markets for residential solar in the developing world. As a result, the increasing residential solar installations across the globe are expected to drive the solar PV inverters market during the forecast period.

Increasing Solar Power Capacity Additions to Accelerate Growth

During 2016, at least 75 GW of solar PV capacity was added worldwide, owing to increasing competitiveness of solar PV, as well as due to rising demand for electricity and improving awareness of solar PV’s potential, as countries seek to alleviate pollution and reduce CO2 emissions. The increasing solar power capacity across the globe is likely to promulgate the demand for solar PV inverters during the forecast period, primarily driven by government regulations or incentives.

Asia to Dominate the Market

Asia witnessed the maximum growth in solar capacity in 2015, with a capacity of 139 GW (+50 GW). Almost half of all new solar capacity was installed in China in 2016 (+34 GW). Other countries with significant expansion included: the United States. (+11 GW), Japan (+8 GW), and India (+4 GW). Capacity in Europe expanded by 5 GW to reach 104 GW with most expansion occurring in Germany and the United Kingdom.

Significant Progress Witnessed in China

China, being one of the top energy consumers in the world, is trying to cut down its dependence on coal, oil, and natural gas, and is replacing them with solar energy at a breakneck speed. In 2016, the country had an installed photovoltaic capacity of 34.54 GW. The country has elevated its national strategic targets for new solar power generation capacity and has been reinforcing them with market-based incentives, government subsidies, and tax credits. In the recent years, there has also been an increased emphasis on inverters in China providing Zero-voltage Ride Through (ZVRT). To meet the Chinese Grid Code for ZVRT, PV power plants must continue to operate without breaking away from the grid for 0.15 seconds when the voltage at the point of interconnection drops to 0. Moreover, according to solar power development plan by the National Energy Administration (NEA), more than 110 GW capacity addition is planned by China. These initiatives and targets are expected to help China remain the largest solar energy producer in the world during the forecast period as well.

Key Developments in the Market
  • January 2018: Sungrow Power Supply Co showcased its latest 3.125MW 1500VDC Turnkey Station, as well as its SG125HV at the World Future Energy Summit held in Abu Dhabi, targeting the MENA region. The 1500VDC string inverters are developed for large-scale utility plants.
  • December 2017: Siemens AG had launched a 5,000 kVA central inverter, which would be supplied to utility-scale solar PV power plant projects across India, as part of its strategy to re-enter PV inverter market in India.
Major Players: 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, TMEIC CORPORATION

Reasons to Purchase this Report
  • Identify the drivers, restraints, and opportunities in the global solar PV inverters market with in-depth analysis.
  • Identify the inverter type and application dominating the market.
  • Analyze various perspectives of the market with the help of Porter’s five forces analysis.
  • Identify the regions expected to witness the fastest growth during the forecast period.
  • Identify the latest developments and strategies employed by the major market players.
  • 3 months of analyst support along with the Market Estimate sheet (in excel).
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FEATURED COMPANIES

  • ABB Ltd.
  • Enphase Energy Inc.
  • Kstar New Energy Co. Ltd.
  • Schneider Electric SE
  • Sineng Electric Co. Ltd.
  • Tabuchi Electric Co. Ltd.
  • MORE
1. Executive Summary

2. Research Scope and Methodology

3. Market Overview
3.1 Introduction
3.2 Market Size and Demand Forecast until 2023
3.3 Recent Trends and Developments
3.4 Government Regulations and Policies

4. Market Dynamics
4.1 Drivers
4.2 Constraints
4.3 Opportunities

5. Value Chain Analysis

6. Porter's Five Forces Analysis
6.1 Bargaining Power of Suppliers
6.2 Bargaining Power of Consumers
6.3 Threat of New Entrants
6.4 Threat of Substitutes
6.5 Competitive Rivalry

7. Global Solar PV Inverter Market Analysis, by Application
7.1 Residential
7.2 Commercial & Industrial
7.3 Utility-Scale

8. Global Solar PV Inverter Market Analysis, by Inverter Type
8.1 Central Inverters
8.2 String Inverters
8.3 Micro Inverters
8.4 Others

9. Global Solar PV Inverter Market Analysis, by Geography
9.1 North America
9.1.1 US
9.1.2 Canada
9.1.3 Mexico
9.1.4 Rest of North America
9.2 Asia-Pacific
9.2.1 China
9.2.2 India
9.2.3 Japan
9.2.4 South Korea
9.2.5 Rest of Asia-Pacific
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Rest of Europe
9.4 South America
9.4.1 Brazil
9.4.2 Chile
9.4.3 Rest of South America
9.5 Middle East & Africa
9.5.1 Morocco
9.5.2 South Africa
9.5.3 UAE
9.5.4 Rest of Middle East & Africa

10. Key Company Profiles (Overview, Financials**, Products & services, Recent Developments, and Analyst View)
10.1 ABB Ltd
10.2 Schneider Electric SE
10.3 Siemens AG
10.4 Mitsubishi Electric Corporation
10.5 Omron Corporation
10.6 General Electric Company
10.7 SMA Solar Technology AG
10.8 Delta Energy Systems Inc.
10.9 Enphase Energy Inc.
10.10 SolarEdge Technologies Inc.
10.11 Huawei Technologies Co. Ltd
10.12 Kstar New Energy Co. Ltd
10.13 Sineng Electric Co. Ltd
10.14 Sungrow Power Supply Co Ltd
10.15 Tabuchi Electric Co. Ltd
10.16 TBEA Sunoasis Co. Ltd
10.17 TMEIC Corporation
(*List Not Exhaustive)

11. Competitive Landscape
11.1 Mergers & Acquisitions
11.2 Joint Ventures Collaborations, and Agreements
11.3 Market Share Analysis
12. Future of the Market
13. Appendix
13.1 Contact Us
13.2 Disclaimer
**Subject to availability on Public Domains
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  • 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.
  • TMEIC Corporation
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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