Increasing installation of commercial and utility-scale projects is a key factor driving the global photovoltaic inverters market, says Fortune Business Insights in a report, titled “Photovoltaic Inverters Market Size, Share and Global Trend By Voltage (Less than 1000 V, 1000-1500 V, Above 1500 V), By Product (Micro, String, Central), By Application (Residential, Commercial, Industrial, Utility) and Geography Forecast till 2026.” The surge in the electrification program in emerging nations is expected to contribute significantly to the photovoltaic inverters market.
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Some Of The Major Companies That Are Present In Photovoltaic Inverters Market Are
- SMA Solar Technology
- Sungrow Power Supply Co., Ltd.
- Enphase Energy
- Schneider Electric
- Tabuchi Electric Co., Ltd.
- Elettronica Santerno
- TMEIC, Panasonic
- The Furukawa Battery Co., Ltd.
- Growatt New Energy Technology
- Shenzhen KSTAR
- REFU Elektronik GmbH, SatCon
- Solar Edge
- Delta Group
- Chint Group
- Fronious International
- Samil Power
- Emerson Electric
- KACO New Energy
- SolarMax, and Huawei.
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Key Market Restraint – Constant price drop along with high maintenance cost
Key Market Driver – Inclination towards renewable source of energy
According to the report, the increasing inclination towards renewable sources of energy and rising awareness to reduce carbon emissions will contribute positively to the photovoltaic inverters market. The rising focus towards decentralized generation and the fast development of distributed generation techniques will create new growth opportunities for the market during the forecast period. In addition, rising demand from the downstream sector and increasing product shipments is predicted to further enable the growth of the photovoltaic inverters market.
The report offers an in-depth insight into the photovoltaic inverters market by covering all the major aspects. These aspects range from minute details of the industry performance to key industry developments, growth drivers, hindrances, market trends, and key market players. It gives an edge to business planners, industrialists, experts, researchers, and investors who are looking forward to entering the market and expand substantially.
Rising Electrification Program Will Propel Growth
The declining solar component cost and increasing operational efficiency will contribute significantly to the photovoltaic inverters market during the forecast period. The increasing installation of commercial and utility-scale solar projects is a factor expected to propel the growth of the market. The rising initiatives for sustainable energy integration and solar targets will also aid the growth of the photovoltaic inverters market. The presentation of extensive series of future photovoltaic (PV) alternatives by Growatt New Energy Technology is likely to create growth opportunities for the photovoltaic inverters market trends. For instance, During the SNEC PV Power Expo, Growatt New Energy Technology, China-based PV inverter manufacturer, presented its extensive series of future photovoltaic (PV) alternatives. The recent development of the company involves the “X” inverter series varying from 2.5kW to 80kW. Moreover, at the World Future Energy Summit in Abu Dhabi, Sungrow Power Supply Co-presented its latest 3.125MW 1500VDC Turnkey Station and its SG125HV targeting the MENA region. The 1500VDC string inverters for large utility crops are created. The latest 3.125MW 1500VDC Turnkey Station is expected to stimulate growth of the market during the forecast period.
However, the gradual and constant drop in prices is expected to restrict the growth of the photovoltaic inverters market. In addition, the high maintenance cost required to operate a solar inverter setup is also a major factor expected to restrict the growth of the market.
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Favorable Regulatory Measures Will Boost Growth In North America
Geographically, the global photovoltaic inverters market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is expected to dominate during the forecast period owing to the grid modernization, replacement of old installations along with capacity enhancement. The Favorable regulatory measures pertaining to energy conservation and positive consumer outlook towards the deployment of sustainable energy will further enable growth in the region. Europe is expected to grow significantly during the forecast period owing to the favorable government initiatives and increasing initiatives to reduce carbon footprint along with strict energy efficiency laws. Asia-Pacific is expected to grow considerably due to increasing product shipments to China, which is expected to escalate demand from the downstream sector. The photovoltaic inverter market is predicted to witness significant growth in the Middle East and Africa owing to their large-scale adoption across industrial establishments.
1. By Voltage
- Less than 1000 V
- 1000-1500 V
- Above 1500 V
2. By Product
3. By Application
4. By Geography
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
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Major Table of Content For Photovoltaic Inverters Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Photovoltaic Inverters Market Analysis, Insights and Forecast, 2026
- North America Photovoltaic Inverters Market Analysis, Insights and Forecast, 2026
- Europe Photovoltaic Inverters Market Analysis, Insights and Forecast, 2026
- Asia Pacific Photovoltaic Inverters Market Analysis, Insights and Forecast, 2026
- The Middle East and Africa Photovoltaic Inverters Market Analysis, Insights and Forecast, 2026
- Latin America Photovoltaic Inverters Market Analysis, Insights and Forecast, 2026
- Competitive Landscape
- Company Profile
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