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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

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 (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • 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

Table Information