The solar inverters market is expected to grow from US$ 9,806.67 million in 2022 to US$ 16,327.06 million by 2028. It is estimated to grow at a CAGR of 8.9% during 2022–2028.
With the worldwide governments working toward establishing solar power as a primary energy source, various schemes have been introduced for domestic use of solar power. Installing solar rooftop systems can help people generate electricity and use it for different purposes residential, commercial and even industrial. While this is a great option, there are few takers for rooftop solar panels due to their huge installation costs. To make it easier, Indian central and state governments have launched various schemes to encourage the implementation of rooftop solar panels. For instance, in January 2022, the Ministry of New & Renewable Energy mentioned that households will get rooftop solar panels for free and can be installed by anyone, and requires a snap of the installed system is sufficient to get benefits or subsidy under the government scheme.
Thus, the rising number of solar installations attributed to government-led incentives and schemes propel the demand for solar inverters, which drives the solar inverters market growth.
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Solar Inverters Market: Strategic Insights
Market Size Value in US$ 9,806.67 Million in 2022 Market Size Value by US$ 16,327.06 Million by 2028 Growth rate CAGR of 8.9% From 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Solar Inverters Market: Strategic Insights
| Market Size Value in | US$ 9,806.67 Million in 2022 |
| Market Size Value by | US$ 16,327.06 Million by 2028 |
| Growth rate | CAGR of 8.9% From 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Impact of COVID-19 Pandemic on North America Solar Inverters Market
The need for solar inverters was prevalent during the pre-COVID-19 era because of the growing urban population. Due to the increasing population, infrastructural development was increasing. According to the article published by the Journal of Commerce Online, the US Department of Transportation (DOT) allocated grants of ~US$ 856 million to Infrastructure for Rebuilding America (INFRA) for constructing 20 projects across the US. Thus, the need for developing infrastructure supported the growth of the solar inverters market in North America.
In North America, the US, Canada, and Mexico witnessed a significant rise in COVID-19 patients in 2020. The COVID-19 pandemic resulted in economic challenges owing to subsequent lockdowns. In 2020, manufacturing industries were severely affected due to a drastic decrease in product demand, falling prices, and storage shortages. A swift decline in manufacturing revenues due to virtually nonexistent manufacturing demand and slow production capabilities has limited the expenditure on installing or upgrading existing solar inverters across various industries in North America. Moreover, periodic maintenance and discontinuation of operation in existing manufacturing plants have hampered the demand for solar inverters. Thus, the COVID-19 pandemic has adversely affected the North America solar inverters market.
In 2021, the manufacturing industry started recovering from the significant labor and supply chain challenges that triggered the adoption of solar inverters. In 2022, solar inverters will have a higher demand in North America due to the continued progress in the renewable energy sector.
Lucrative Regions for Solar Inverters Providers
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Solar Inverters Market Insights
Growing Residential Solar Rooftop Installations
The economic aspect is the biggest incentive for installing home rooftop solar panels. Solar energy has emerged as one of the most promising and widely accepted renewable energy sources. Residential solar solutions can provide free, uninterrupted electricity for the years while simultaneously contributing to a greener environment.
In the US, as per Solar Energy Industries Association in June 2022, the US installed 3.9 gigawatts (GW) of solar photovoltaic (PV) capacity in Q1 2022 to reach 126.1 GW of total installed capacity, enough to power 22 million American homes. Solar accounted for 50% of all new electricity-generating capacity added in the U.S. in Q1. Residential solar had its largest quarter in history with 1.2 GW installed, a 30% increase year-over-year. Further, the government of India has a target of 40 GW by 2022 for rooftop solar installations in the country, per the article published by Mercom India in August 2021. However, the cumulative installations as of March 31, 2021, are only about 5.4 GW. Rooftop solar accounts for around 13% of cumulative solar installation in India. Also, businesses realize the financial and environmental benefits of going solar, and the COVID-19 pandemic has increased its adoption. Furthermore, Tata Power Solar company has been India's leading rooftop solar installer. The company emerged as the top solar rooftop installer in India in the year 2020, according to Mercom's India Solar Market Leaderboard 2021, accounting for 20% of the total rooftop installations in the country.
Therefore, with all the above-mentioned factors, growing residential solar rooftop installations globally support the solar inverters market growth.
Type-based Market Insights
Based on type, the solar inverters market is segmented into central, string, and micro. In 2021, the central segment led the market, accounting for the largest share.
Solar Inverters Market, by Type, 2021 and 2028 (%)
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System Type-based Market Insights
Based on system type, the solar inverters market is bifurcated into on-grid and off-grid. In 2021, the on-grid segment accounted for a larger market share.
End User-based Market Insights
Based on end user, the solar inverters market is segmented into residential, commercial, and utility. In 2021, the utility segment accounted for the largest market share.
Players operating in the solar inverters market adopt strategies, such as mergers, acquisitions, and market initiatives, to maintain their positions in the solar inverters market. A few developments by key players are listed below:
- In June 2022, ABB announced the opening of its new production site in Italy-the E-mobility Center of Excellence. It has a floor space of 16,000 m square. It will provide support for the electrification of transport sectors.
- In March 2022, Delta received the ENERGY STAR-2022 Partner of the year award for sustained excellence by the US Environmental Protection Agency for the seventh consecutive year.
Company Profiles
- FIMER S.p.A.
- Delta Electronics, Inc.
- Enertechups
- GOODWE
- Power Electronics S.L.
- Powerone Micro Systems Pvt.Ltd
- Sineng Electric
- SMA Solar Technology AG
- Solaredge Technologies Inc.
- Hitachi Hi-Rel Power Electronics Pvt Ltd.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, System Type, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, Canada, China, France, Germany, India, Italy, Japan, MEA, Mexico, SAM, South Korea, Spain, United Kingdom, United States
Frequently Asked Questions
Rising number of solar installations attributed to government-led incentives and schemes and growing residential solar rooftop installations are driving the growth of the solar inverters market.
Technological innovations in solar inverters is presenting significant potential for the future growth of the solar inverters market players.
Based on type, the solar inverters market is bifurcated into central, string, and micro. In 2021, the central segment led the solar inverters market, accounting for the largest share in the market.
APAC is the fastest growing region in the global solar inverters market.
The major five companies in the solar inverters market include SMA Solar Technology AG, SolarEdge Technologies Inc., Fimer Group, GOODWE, and Power Electronics S.L.
The incremental growth of the solar inverters market during the forecast period is US$ 6520.39 million.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Solar inverters Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Solar inverters Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Number of Solar Installations attributed to Government-led Incentives and Schemes
5.1.2 Growing Residential Solar Rooftop Installations
5.2 Market Restraints
5.2.1 Safety Risks Associated with High DC Voltages in Solar Inverters
5.3 Market Opportunities
5.3.1 Increasing Investments in Renewable Energy Sector
5.4 Future Trends
5.4.1 Technological Innovations in Solar Inverters
5.5 Impact Analysis of Drivers and Restraints
6. Solar inverters – Global Market Analysis
6.1 Global Solar inverters Market Overview
6.2 Global Solar inverters Market Revenue Forecast and Analysis
6.3 Market Positioning – Five Key Players
7. Solar Inverters Market Analysis – By Type
7.1 Overview
7.2 Solar Inverters Market Breakdown, By Type, 2021 and 2028
7.3 Central
7.3.1 Overview
7.3.2 Central: Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
7.4 String
7.4.1 Overview
7.4.2 String: Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
7.5 Micro
7.5.1 Overview
7.5.2 Micro: Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
8. Solar Inverters Market Analysis – By System Type
8.1 Overview
8.2 Solar Inverters Market Breakdown, By System Type, 2021 and 2028
8.3 On-Grid
8.3.1 Overview
8.3.2 On-Grid: Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
8.4 Off-Grid
8.4.1 Overview
8.4.2 Off-Grid: Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
9. Solar Inverters Market Analysis – By End User
9.1 Overview
9.2 Solar Inverters Market Breakdown, By End User, 2021 and 2028
9.3 Residential
9.3.1 Overview
9.3.2 Residential: Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
9.4 Commercial
9.4.1 Overview
9.4.2 Commercial: Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
9.5 Utility
9.5.1 Overview
9.5.2 Utility: Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
10. Solar Inverters Market – Geographic Analysis
10.1 Overview
10.2 North America: Solar Inverters Market
10.2.1 Overview
10.2.2 North America Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
10.2.3 North America Solar Inverters Market Breakdown, By Type
10.2.4 North America Solar Inverters Market Breakdown, By System Type
10.2.5 North America Solar Inverters Market Breakdown, By End User
10.2.6 North America Solar Inverters Market Breakdown, by Country
10.2.6.1 US Solar Inverters Market, Revenue and Forecast to 2028
10.2.6.1.1 US Solar Inverters Market Breakdown, By Type
10.2.6.1.2 US Solar Inverters Market Breakdown, By System Type
10.2.6.1.3 US Solar Inverters Market Breakdown, By End User
10.2.6.2 Canada Solar Inverters Market, Revenue and Forecast to 2028
10.2.6.2.1 Canada Solar Inverters Market Breakdown, By Type
10.2.6.2.2 Canada Solar Inverters Market Breakdown, By System Type
10.2.6.2.3 Canada Solar Inverters Market Breakdown, By End User
10.2.6.3 Mexico Solar Inverters Market, Revenue and Forecast to 2028
10.2.6.3.1 Mexico Solar Inverters Market Breakdown, By Type
10.2.6.3.2 Mexico Solar Inverters Market Breakdown, By System Type
10.2.6.3.3 Mexico Solar Inverters Market Breakdown, By End User
10.3 Europe: Solar Inverters Market
10.3.1 Overview
10.3.2 Europe Solar Inverters Market Revenue and Forecast to 2028 (US$ million)
10.3.3 Europe Solar Inverters Market Breakdown, By Type
10.3.4 Europe Solar Inverters Market Breakdown, By System Type
10.3.5 Europe Solar Inverters Market Breakdown, By End User
10.3.6 Europe Solar Inverters Market Breakdown, by Country
10.3.6.1 Germany Solar Inverters Market, Revenue and Forecast to 2028
10.3.6.1.1 Germany Solar Inverters Market Breakdown, By Type
10.3.6.1.2 Germany Solar Inverters Market Breakdown, By System Type
10.3.6.1.3 Germany Solar Inverters Market Breakdown, By End User
10.3.6.2 France Solar Inverters Market, Revenue and Forecast to 2028
10.3.6.2.1 France Solar Inverters Market Breakdown, By Type
10.3.6.2.2 France Solar Inverters Market Breakdown, By System Type
10.3.6.2.3 France Solar Inverters Market Breakdown, By End User
10.3.6.3 Italy Solar Inverters Market, Revenue and Forecast to 2028
10.3.6.3.1 Italy Solar Inverters Market Breakdown, By Type
10.3.6.3.2 Italy Solar Inverters Market Breakdown, By System Type
10.3.6.3.3 Italy Solar Inverters Market Breakdown, By End User
10.3.6.4 UK Solar Inverters Market, Revenue and Forecast to 2028
10.3.6.4.1 UK Solar Inverters Market Breakdown, By Type
10.3.6.4.2 UK Solar Inverters Market Breakdown, By System Type
10.3.6.4.3 UK Solar Inverters Market Breakdown, By End User
10.3.6.5 Russia Solar Inverters Market, Revenue and Forecast to 2028
10.3.6.5.1 Russia Solar Inverters Market Breakdown, By Type
10.3.6.5.2 Russia Solar Inverters Market Breakdown, By System Type
10.3.6.5.3 Russia Solar Inverters Market Breakdown, By End User
10.3.6.6 Rest of Europe Solar Inverters Market, Revenue and Forecast to 2028
10.3.6.6.1 Rest of Europe Solar Inverters Market Breakdown, By Type
10.3.6.6.2 Rest of Europe Solar Inverters Market Breakdown, By System Type
10.3.6.6.3 Rest of Europe Solar Inverters Market Breakdown, By End User
10.4 APAC: Solar Inverters Market
10.4.1 Overview
10.4.2 APAC Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
10.4.3 APAC Solar Inverters Market Breakdown, By Type
10.4.4 APAC Solar Inverters Market Breakdown, By System Type
10.4.5 APAC Solar Inverters Market Breakdown, By End User
10.4.6 APAC Solar Inverters Market Breakdown, by Country
10.4.6.1 Australia Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.1.1 Australia Solar Inverters Market Breakdown, By Type
10.4.6.1.2 Australia Solar Inverters Market Breakdown, By System Type
10.4.6.1.3 Australia Solar Inverters Market Breakdown, By End User
10.4.6.2 China Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.2.1 China Solar Inverters Market Breakdown, By Type
10.4.6.2.2 China Solar Inverters Market Breakdown, By System Type
10.4.6.2.3 China Solar Inverters Market Breakdown, By End User
10.4.6.3 India Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.3.1 India Solar Inverters Market Breakdown, By Type
10.4.6.3.2 India Solar Inverters Market Breakdown, By System Type
10.4.6.3.3 India Solar Inverters Market Breakdown, By End User
10.4.6.4 Japan Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.4.1 Japan Solar Inverters Market Breakdown, By Type
10.4.6.4.2 Japan Solar Inverters Market Breakdown, By System Type
10.4.6.4.3 Japan Solar Inverters Market Breakdown, By End User
10.4.6.5 South Korea Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.5.1 South Korea Solar Inverters Market Breakdown, By Type
10.4.6.5.2 South Korea Solar Inverters Market Breakdown, By System Type
10.4.6.5.3 South Korea Solar Inverters Market Breakdown, By End User
10.4.6.6 Rest of APAC Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.6.1 Rest of APAC Solar Inverters Market Breakdown, By Type
10.4.6.6.2 Rest of APAC Solar Inverters Market Breakdown, By System Type
10.4.6.6.3 Rest of APAC Solar Inverters Market Breakdown, By End User
10.5 MEA: Solar Inverters Market
10.5.1 Overview
10.5.2 MEA Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
10.5.3 MEA Solar Inverters Market Breakdown, By Type
10.5.4 MEA Solar Inverters Market Breakdown, By System Type
10.5.5 MEA Solar Inverters Market Breakdown, By End User
10.5.6 MEA Solar Inverters Market Breakdown, By Country
10.5.6.1 South Africa Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
10.5.6.1.1 South Africa Solar Inverters Market Breakdown, By Type
10.5.6.1.2 South Africa Solar Inverters Market Breakdown, By System Type
10.5.6.1.3 South Africa Solar Inverters Market Breakdown, By End User
10.5.6.2 Saudi Arabia Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
10.5.6.2.1 Saudi Arabia Solar Inverters Market Breakdown, By Type
10.5.6.2.2 Saudi Arabia Solar Inverters Market Breakdown, By System Type
10.5.6.2.3 Saudi Arabia Solar Inverters Market Breakdown, By End User
10.5.6.3 UAE Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
10.5.6.3.1 UAE Solar Inverters Market Breakdown, By Type
10.5.6.3.2 UAE Solar Inverters Market Breakdown, By System Type
10.5.6.3.3 UAE Solar Inverters Market Breakdown, By End User
10.5.6.4 Rest of MEA Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
10.5.6.4.1 Rest of MEA Solar Inverters Market Breakdown, By Type
10.5.6.4.2 Rest of MEA Solar Inverters Market Breakdown, By System Type
10.5.6.4.3 Rest of MEA Solar Inverters Market Breakdown, By End User
10.6 SAM: Solar Inverters Market
10.6.1 Overview
10.6.2 SAM Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
10.6.3 SAM Solar Inverters Market Breakdown, By Type
10.6.4 SAM Solar Inverters Market Breakdown, By System Type
10.6.5 SAM Solar Inverters Market Breakdown, By End User
10.6.6 SAM Solar Inverters Market Breakdown, By Country
10.6.6.1 Brazil Solar Inverters Market, Revenue and Forecast to 2028
10.6.6.1.1 Brazil Solar Inverters Market Breakdown, By Type
10.6.6.1.2 Brazil Solar Inverters Market Breakdown, By System Type
10.6.6.1.3 Brazil Solar Inverters Market Breakdown, By End User
10.6.6.2 Argentina Solar Inverters Market, Revenue and Forecast to 2028
10.6.6.2.1 Argentina Solar Inverters Market Breakdown, By Type
10.6.6.2.2 Argentina Solar Inverters Market Breakdown, By System Type
10.6.6.2.3 Argentina Solar Inverters Market Breakdown, By End User
10.6.6.3 Rest of SAM Solar Inverters Market, Revenue and Forecast to 2028
10.6.6.3.1 Rest of SAM Solar Inverters Market Breakdown, By Type
10.6.6.3.2 Rest of SAM Solar Inverters Market Breakdown, By System Type
10.6.6.3.3 Rest of SAM Solar Inverters Market Breakdown, By End User
11. Solar inverters Market - Covid-19 Impact Analysis
11.1 Overview
11.2 North America: Impact Assessment of COVID-19 Pandemic
11.3 Europe: Impact Assessment of COVID-19 Pandemic
11.4 APAC: Impact Assessment of COVID-19 Pandemic
11.5 MEA: Impact Assessment of COVID-19 Pandemic
11.6 SAM: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Market Initiative
12.2 Merger and Acquisition
12.3 New Development
13. Company Profiles
13.1 FIMER S.p.A.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Delta Electronics, Inc.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Enertechups
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 GOODWE
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Power Electronics S.L.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Powerone Micro Systems Pvt.Ltd
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Sineng Electric
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 SMA Solar Technology AG
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Solaredge Technologies Inc.
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Hitachi Hi-Rel Power Electronics Pvt Ltd.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. Global Solar inverters Market Revenue Forecast and Forecast to 2028 (US$ Million)
Table 2. North America Solar Inverters Market, Revenue and Forecast To 2028 – By Type (US$ million)
Table 3. North America Solar Inverters Market, Revenue and Forecast To 2028 – By System Type (US$ million)
Table 4. North America Solar Inverters Market, Revenue and Forecast To 2028 – By End User (US$ million)
Table 5. North America Solar Inverters Market, Revenue and Forecast To 2028 – By Country (US$ million)
Table 6. US Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 7. US Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 8. US Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 9. Canada Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 10. Canada Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 11. Canada Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 12. Mexico Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 13. Mexico Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 14. Mexico Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 15. Europe Solar Inverters Market, Revenue and Forecast To 2028 – By Type (US$ million)
Table 16. Europe Solar Inverters Market, Revenue and Forecast To 2028 – By System Type (US$ million)
Table 17. Europe Solar Inverters Market, Revenue and Forecast To 2028 – By End User (US$ million)
Table 18. Europe Solar Inverters Market, Revenue and Forecast To 2028 – By Country (US$ million)
Table 19. Germany Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 20. Germany Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 21. Germany Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 22. France Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 23. France Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 24. France Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 25. Italy Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 26. Italy Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 27. Italy Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 28. UK Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 29. UK Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 30. UK Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 31. Russia Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 32. Russia Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 33. Russia Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 34. Rest of Europe Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 35. Rest of Europe Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 36. Rest of Europe Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 37. APAC Solar Inverters Market, Revenue and Forecast To 2028 – By Type (US$ million)
Table 38. APAC Solar Inverters Market, Revenue and Forecast To 2028 – By System Type (US$ million)
Table 39. APAC Solar Inverters Market, Revenue and Forecast To 2028 – By End User (US$ million)
Table 40. APAC Solar Inverters Market, Revenue and Forecast To 2028 – By Country (US$ million)
Table 41. Australia Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 42. Australia Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 43. Australia Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 44. China Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 45. China Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 46. China Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 47. India Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 48. India Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 49. India Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 50. Japan Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 51. Japan Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 52. Japan Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 53. South Korea Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 54. South Korea Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 55. South Korea Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 56. Rest of APAC Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 57. Rest of APAC Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 58. Rest of APAC Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 59. MEA Solar Inverters Market, Revenue and Forecast To 2028 – By Type (US$ million)
Table 60. MEA Solar Inverters Market, Revenue and Forecast To 2028 – By System Type (US$ million)
Table 61. MEA Solar Inverters Market, Revenue and Forecast To 2028 – By End User (US$ million)
Table 62. MEA Solar Inverters Market, Revenue and Forecast to 2028 – By Country (US$ million)
Table 63. South Africa Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 64. South Africa Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 65. South Africa Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 66. Saudi Arabia Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 67. Saudi Arabia Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 68. Saudi Arabia Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 69. UAE Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 70. UAE Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 71. UAE Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 72. Rest of MEA Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 73. Rest of MEA Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 74. Rest of MEA Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 75. SAM Solar Inverters Market, Revenue and Forecast To 2028 – By Type (US$ million)
Table 76. SAM Solar Inverters Market, Revenue and Forecast To 2028 – By System Type (US$ million)
Table 77. SAM Solar Inverters Market, Revenue and Forecast To 2028 – By End User (US$ million)
Table 78. SAM Solar Inverters Market, Revenue and Forecast To 2028 – By Country (US$ million)
Table 79. Brazil Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 80. Brazil Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 81. Brazil Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 82. Argentina Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 83. Argentina Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 84. Argentina Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 85. Rest of SAM Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 86. Rest of SAM Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 87. Rest of SAM Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 88. List of Abbreviation
LIST OF FIGURES
Figure 1. Solar Inverters Market Segmentation
Figure 2. Solar Inverters Market Segmentation – By Geography
Figure 3. Global Solar Inverters Market Overview
Figure 4. Solar Inverters Market, by Type
Figure 5. Solar Inverters Market, by System Type
Figure 6. Solar Inverters Market, by End User
Figure 7. Solar Inverters Market, by Geography
Figure 8. North America: PEST Analysis
Figure 9. Europe: PEST Analysis
Figure 10. APAC: PEST Analysis
Figure 11. MEA: PEST Analysis
Figure 12. SAM: PEST Analysis
Figure 13. Solar inverters Market- Ecosystem Analysis
Figure 14. Expert Opinion
Figure 15. Solar Inverters Market: Impact Analysis of Drivers and Restraints
Figure 16. Geographic Overview of Solar inverters Market
Figure 17. Global Solar inverters Market Revenue Forecast and Analysis (US$ Million)
Figure 18. Solar Inverters Market Revenue Share, By Type (2021 and 2028)
Figure 19. Central: Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. String: Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. Micro: Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. Solar Inverters Market Revenue Share, By System Type (2021 and 2028)
Figure 23. On-Grid: Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
Figure 24. Off-Grid: Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
Figure 25. Solar Inverters Market Revenue Share, By End User (2021 and 2028)
Figure 26. Residential: Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
Figure 27. Commercial: Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
Figure 28. Utility: Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
Figure 29. Global Solar Inverters Market Breakdown, By Region, 2021 & 2028 (%)
Figure 30. North America Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
Figure 31. North America Solar Inverters Market Breakdown, By Type, 2021 & 2028 (%)
Figure 32. North America Solar Inverters Market Breakdown, By System Type, 2021 & 2028 (%)
Figure 33. North America Solar Inverters Market Breakdown, By End User, 2021 & 2028 (%)
Figure 34. North America Solar Inverters Market Breakdown, by Country, 2021 & 2028 (%)
Figure 35. US Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
Figure 36. Canada Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
Figure 37. Mexico Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
Figure 38. Europe Solar Inverters Market, Revenue and Forecast To 2028 (US$ million)
Figure 39. Europe Solar Inverters Market Breakdown, By Type, 2021 & 2028 (%)
Figure 40. Europe Solar Inverters Market Breakdown, By System Type, 2021 & 2028 (%)
Figure 41. Europe Solar Inverters Market Breakdown, By End User, 2021 & 2028 (%)
Figure 42. Europe Solar Inverters Market Breakdown, by Country, 2021 & 2028(%)
Figure 43. Germany Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
Figure 44. France Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
Figure 45. Italy Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
Figure 46. UK Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
Figure 47. Russia Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
Figure 48. Rest of Europe Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
Figure 49. APAC Solar Inverters Market, Revenue and Forecast To 2028 (US$ million)
Figure 50. APAC Solar Inverters Market Breakdown, By Type, 2021 & 2028 (%)
Figure 51. APAC Solar Inverters Market Breakdown, By System Type, 2021 & 2028 (%)
Figure 52. APAC Solar Inverters Market Breakdown, By End User, 2021 & 2028 (%)
Figure 53. APAC Solar Inverters Market Breakdown, by Country, 2021 & 2028 (%)
Figure 54. Australia Solar Inverters Market, Revenue and Forecast To 2028 (US$ million)
Figure 55. China Solar Inverters Market, Revenue and Forecast To 2028 (US$ million)
Figure 56. India Solar Inverters Market, Revenue and Forecast To 2028 (US$ million)
Figure 57. Japan Solar Inverters Market, Revenue and Forecast To 2028 (US$ million)
Figure 58. South Korea Solar Inverters Market, Revenue and Forecast To 2028 (US$ million)
Figure 59. Rest of APAC Solar Inverters Market, Revenue and Forecast To 2028 (US$ million)
Figure 60. MEA Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
Figure 61. MEA Solar Inverters Market Breakdown, By Type, 2021 & 2028 (%)
Figure 62. MEA Solar Inverters Market Breakdown, By System Type, 2021 & 2028 (%)
Figure 63. MEA Solar Inverters Market Breakdown, By End User, 2021 & 2028 (%)
Figure 64. MEA Solar Inverters Market Breakdown, By Country, 2021 & 2028 (%)
Figure 65. South Africa Solar Inverters Market, Revenue and Forecast To 2028 (US$ million)
Figure 66. Saudi Arabia Solar Inverters Market, Revenue and Forecast To 2028 (US$ million)
Figure 67. UAE Solar Inverters Market, Revenue and Forecast To 2028 (US$ million)
Figure 68. Rest of MEA Solar Inverters Market, Revenue and Forecast To 2028 (US$ million)
Figure 69. SAM Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
Figure 70. SAM Solar Inverters Market Breakdown, By Type, 2021 & 2028 (%)
Figure 71. SAM Solar Inverters Market Breakdown, By System Type, 2021 & 2028 (%)
Figure 72. SAM Solar Inverters Market Breakdown, By End User, 2021 & 2028 (%)
Figure 73. SAM Solar Inverters Market Breakdown, By Country, 2021 & 2028 (%)
Figure 74. Brazil Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
Figure 75. Argentina Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
Figure 76. Rest of SAM Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
Figure 77. Impact of COVID-19 Pandemic on North American Country Markets
Figure 78. Impact of COVID-19 Pandemic on European Country Markets
Figure 79. Impact of COVID-19 Pandemic on APAC Country Markets
Figure 80. Impact of COVID-19 Pandemic on MEA Country Markets
Figure 81. Impact of COVID-19 Pandemic on SAM Country Markets
The List of Companies - Solar Inverters Market
- FIMER S.p.A.
- Delta Electronics, Inc.
- Enertechups
- GOODWE
- Power Electronics S.L.
- Powerone Micro Systems Pvt.Ltd
- Sineng Electric
- SMA Solar Technology AG
- Solaredge Technologies Inc.
- Hitachi Hi-Rel Power Electronics Pvt Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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