The global solar PV inverter market is segmented by technology (central inverters, string inverters, and micro inverters), by application (on-grid, off-grid, and battery back-up inverters), and by geography (APAC, EMEA, and the Americas).
Technavio’s market research analysts estimate the global solar PV inverter market to grow at an impressive rate of close to 15% between 2014 and 2019. Much of this growth will come from the APAC region, which accounted for close to 45% of the total market revenue in 2014. However, analysts envisage the Americas to show the highest growth rate during the forecast period due to its high demand for solar PV inverters.
The new market research report from Technavio provides a breakdown and analysis of the global solar PV inverter market by application.
“The on-grid inverters segment is growing faster than all the other segments because of its ability to synchronize the frequency and phase of the currents produced by the solar panels. These inverters adjust the output voltage to a value higher than that of the grid voltage. Thus, allowing the excess electricity to flow towards the grid. Such inverters ensure safety of the system by automatically turning themselves off in the event of blackouts,” says Navin Rajendra, Lead Analyst, Energy, Technavio Research.
The report also offers a breakdown of market shares by technology, including central inverters, string inverters, and micro inverters. The central inverters segment dominates over all the other segments and singlehandedly accounts for more than 55% of the total market. The increasing use of solar energy to supplement grid power will result in this market’s attractive growth rate of over 20% during the forecast period. As these inverters are specifically designed for utility-scale applications or field applications, its demand during the forecast period is expected to increase significantly.
Global solar PV inverter market by technology 2019
Source: Technavio, 2015
Top companies in this market include ABB, Omron, SMA, Sungrow, and TMEIC. The report provides an overview of these companies, their financial overview, business strategies, and recent developments, as well as an in-depth discussion of the main market drivers, challenges, and trends.
https://www.technavio.com/%3Cp%3EA%20more%20detailed%20analysis%20is%20av…
