Key vendors to focus on management of sales, distribution, and working capital.
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five vendors for the global solar hybrid inverters market in their latest research report. This report also lists 13 other prominent vendors who are expected to contribute to this market’s growth between 2017-2021.
Competitive vendor landscape
The global market for solar hybrid inverters is still in its nascent phase and is characterized by the presence of a limited number of vendors. In several regions, local or regional vendors account for the larger portion of the installations. The market has immense potential for growth with respect to entry of new vendors who can address the growing need for solar PV manufacturers and solar farm developers alike.
According to Thanikachalam Chandrasekaran, a lead analyst at Technavio for research on energy storage, “The competitive environment in this market is likely to intensify further during the forecast period because of the increase in product extensions and technological innovations. New and existing vendors are expected to focus on managing their sales, distribution, and working capital effectively to survive and continue their operations in the highly volatile market.”
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Top five vendors in the solar hybrid inverter market space
Flin Energy
Flin Energy is a division of Flin Technologies Private Limited and has offices in India and the US. The company offers customized solar solutions for its residential, commercial, and utility provider end-users. The company has over 500 customers in India, Africa, and South East Asia. The company provides a wide range of commercial solar energy solutions varying from 1 kW to 1 MW. In addition to solar hybrid inverters, the company also provides solar kits, mini solar lighting solution, solar charge controller, FlinFlow Pump Inverter and solar accessories.
Key products: FlinSlim Lite solar hybrid inverters, FlinSlim MPPT solar hybrid inverters, FlinSlim Dual & Trio MPPT solar hybrid inverters, FlinInfini Lite Smart hybrid solar inverters, FlinInfini Smart hybrid solar inverters, and Zeversolar on-grid solar inverters.
Luminous India
Luminous India has a product portfolio that includes power backup solutions such as home UPS, inverter batteries, and solar applications. The company has seven manufacturing units, and over 6,000 employees worldwide. The company has a strong presence in the Middle East, Africa, and the Indian Subcontinent.
Key products: Luminous Solar NXG hybrid inverter 1500VA and Luminous 850VA/12V single phase hybrid inverter.
Microtek Inverters
Microtek Inverters designs, manufactures, and markets power products. The company has 355 service points and 25,000 distributors and dealers in India. The company exports to countries such as South Africa, Afghanistan, Nepal, Iraq, Bangladesh, the UAE, and Pakistan.
Key products: UPS Solar SS 1660, UPS Solar SS 1130, and Solar bi-directional hybrid PCU (3KVA, 48V).
Schneider Electric
Schneider Electric manufactures a wide range of equipment and components for electricity distribution, energy management, and automation management. The company operates through 12 key business segments.
Key products: Conext XW+ solar hybrid inverter system 120/240V and Conext XW+ hybrid inverter for solar power 230V.
Su-Kam Power Systems
Su-Kam Power Systems provides advanced technology solutions for power back-up, generation, and monitoring. The company also manufactures battery accessories, diesel, lead-acid batteries, tubular, SMF, battery equalizers, tall tubular and automotive batteries, LPG, and CNG genets. Its products cater to residential, commercial, and industrial applications.
Key products: Brainy Eco.
A more detailed analysis is available in the Technavio report, Global Solar Hybrid Inverters Market 2017-2021. Technavio also customizes reports by other regions and specific segments upon request.
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