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Published: Jan, 2019 | Pages:
88 | Publisher: Grand View Research
Industry: Electronics | Report Format: Electronic (PDF)
The global PV inverter market size is expected to reach USD 10.37 billion by 2026, according to a new report by Grand View Research, Inc. The increasing demand for renewable energy over the last decade has primarily driven the market for solar PV inverters. The market is estimated to expand at a CAGR of 3.9% from 2018 to 2026. Rising need for solar renewable energy has led to increased installations of solar systems. The solar PV inverter converts variable DC into alternating current frequency and is used in systems individually or in distinct combination depending on a particular installation. The market is witnessing technological innovations at a rapid rate. With technological advancements, the solar PV inverter market is projected to showcase promising growth prospects and advanced system optimization with improved performance efficiencies in near future. Such advancements have taken place in varying end-use sectors, such as grid support for residential installations up to utility-scale PV projects. Central PV inverters is also projected to emerge as the fastest growing segment with a CAGR of around 4.0% from 2018 to 2026. String inverters market was valued at USD 3.18 billion in 2017, and estimated to grow at substantial rates over the forecast period. The utilities segment is projected to lead the product segment in terms of revenue growth. It is projected to expand at a CAGR of around 3.9% in the forthcoming years. Further key findings from the report suggest: • Utilities emerged as the dominant end-use segment, accounting for over 38% of the total market valuation in 2017 • U.S. string inverters market is projected to expand at a CAGR of 4.4% in next seven years to reach a net worth exceeding USD 760 million by 2026 • Asia Pacific PV inverter market is estimated to expand at the fastest CAGR of 4.4% over the forecast period • China is the major contributor for the growth of Asia Pacific and is anticipated to account for 61.3% of the overall Asia Pacific market share in 2026 • Germany emerged as the fastest-growing European country and is estimated to register a CAGR of 3.7% from 2018 to 2026 • Major market players include SMA Solar Technology AG, Siemens AG, Fronius International GmbH, ABB, Enphase Energy, KACO Omron Corporation, SunPower Corporation, Power-One, Hitachi H-Rel Power Electronics Pvt. Ltd, Tigo Energy, and Eaton
Table of Contents
Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
2.1 Market Summary
Chapter 3 Market Variables, Trends and Scope
3.1 Market segmentation
3.2 PV inverters market growth prospects
3.3 PV inverter value chain analysis
3.4 PV installations and solar inverter trends
3.5 Regulatory scenario
3.5.1 Renewable energy policy framework
3.6 Market variable analysis
3.6.1 Market driver analysis
3.6.1.1 Increasing demand for renewable energy due to high power consumption
3.6.1.2 Reduction in renewable power generation costs
3.6.2 Market restraint analysis
3.6.2.1 Persistent pressure on equipment suppliers due to anti-dumping tariffs
3.7 Industry analysis - Porter's
3.8 PESTEL analysis
Chapter 4 PV Inverter Market: Product Estimates & Trend Analysis
4.1 Global PV inverter market share by product, 2017 & 2026
4.1.1 Central PV inverter
4.1.1.1 Market estimates & forecast, 2014 - 2026 (USD Million)
4.1.2 String PV inverter
4.1.2.1 Market estimates & forecast, 2014 - 2026 (USD Million)
4.1.3 Micro PV inverter
4.1.3.1 Market estimates & forecast, 2014 - 2026 (USD Million)
4.1.4 Other PV inverter
4.1.4.1 Market estimates & forecast, 2014 - 2026 (USD Million)
Chapter 5 PV Inverter Market: End-use Estimates & Trend Analysis
5.1 Global PV inverter market share by end-use, 2017 & 2026
5.1.1 Residential
5.1.1.1 Market estimates & forecast, 2014 - 2026 (USD Million)
5.1.2 Commercial & industrial
5.1.2.1 Market estimates & forecast, 2014 - 2026 (USD Million)
5.1.3 Utility
5.1.3.1 Market estimates & forecast, 2014 - 2026 (USD Million)
Chapter 6 PV Inverter Market: Regional Estimates & Trend Analysis
6.1 Global PV inverter market share by region, 2017 & 2026
6.1.1 North America
6.1.1.1 Market estimates & forecast by product, 2014 - 2026 (USD Million)
6.1.1.2 Market estimates & forecast by end-use, 2014 - 2026 (USD Million)
6.1.1.3 U.S.
6.1.1.3.1 Market estimates & forecast by product, 2014 - 2026 (USD Million)
6.1.1.3.2 Market estimates & forecast by end-use, 2014 - 2026 (USD Million)
6.1.1.4 Canada
6.1.1.4.1 Market estimates & forecast by product, 2014 - 2026 (USD Million)
6.1.1.4.2 Market estimates & forecast by end-use, 2014 - 2026 (USD Million)
6.1.1.5 Mexico
6.1.1.5.1 Market estimates & forecast by product, 2014 - 2026 (USD Million)
6.1.1.5.2 Market estimates & forecast by end-use, 2014 - 2026 (USD Million)
6.1.2 Europe
6.1.2.1 Market estimates & forecast by product, 2014 - 2026 (USD Million)
6.1.2.2 Market estimates & forecast by end-use, 2014 - 2026 (USD Million)
6.1.2.3 Germany
6.1.2.3.1 Market estimates & forecast by product, 2014 - 2026 (USD Million)
6.1.2.3.2 Market estimates & forecast by end-use, 2014 - 2026 (USD Million)
6.1.2.4 Italy
6.1.2.4.1 Market estimates & forecast, by product, 2014 - 2026 (USD Million)
6.1.2.4.2 Market estimates & forecast, by end-use, 2014 - 2026 (USD Million)
6.1.2.5 U.K.
6.1.2.5.1 Market estimates & forecast, by product, 2014 - 2026 (USD Million)
6.1.2.5.2 Market estimates & forecast, by end-use, 2014 - 2026 (USD Million)
6.1.3 Asia Pacific
6.1.3.1 Market estimates & forecast by product, 2014 - 2026 (USD Million)
6.1.3.2 Market estimates & forecast by end-use, 2014 - 2026 (USD Million)
6.1.3.3 China
6.1.3.3.1 Market estimates & forecast, by product, 2014 - 2026 (USD Million)
6.1.3.3.2 Market estimates & forecast, by end-use, 2014 - 2026 (USD Million)
6.1.3.4 Japan
6.1.3.4.1 Market estimates & forecast, by product, 2014 - 2026 (USD Million)
6.1.3.4.2 Market estimates & forecast, by end-use, 2014 - 2026 (USD Million)
6.1.3.5 India
6.1.3.5.1 Market estimates & forecast, by product, 2014 - 2026 (USD Million)
6.1.3.5.2 Market estimates & forecast, by end-use, 2014 - 2026 (USD Million)
6.1.4 Middle East & Africa
6.1.4.1 Market estimates & forecast by product, 2014 - 2026 (USD Million)
6.1.4.2 Market estimates & forecast by end-use, 2014 - 2026 (USD Million)
6.1.5 Central & South America
6.1.5.1 Market estimates & forecast by product, 2014 - 2026 (USD Million)
6.1.5.2 Market estimates & forecast by end-use, 2014 - 2026 (USD Million)
Chapter 7 Competitive Landscape
7.1 Vendor landscape
7.2 Competitive environment
7.3 Strategy framework
Chapter 8 Company Profiles
8.1 ABB
8.1.1 Company Overview
8.1.2 Financial Performance
8.1.3 Product Benchmarking
8.2 SMA Solar Technolgy AG
8.2.1 Company Overview
8.2.2 Financial Performance
8.2.3 Product Benchmarking
8.3 SunPower Corporation
8.3.1 Company Overview
8.3.2 Financial Performance
8.3.3 Product Benchmarking
8.4 Delta Electronics, Inc.
8.4.1 Company Overview
8.4.2 Financial Performance
8.4.3 Product Benchmarking
8.4.4 Strategic Initiatives
8.5 Siemens AG
8.5.1 Company Overview
8.5.2 Financial Performance
8.5.3 Product Benchmarking
8.6 Omron Corporation
8.6.1 Company Overview
8.6.2 Financial Performance
8.6.3 Product Benchmarking
8.7 Eaton
8.7.1 Company Overview
8.7.2 Financial Performance
8.7.3 Financial Performance
8.7.4 Strategic Initiatives
8.8 Emerson Electric Co
8.8.1 Company Overview
8.8.2 Financial Performance
8.8.3 Product Benchmarking
8.9 Power Electronics
8.9.1 Company Overview
8.9.2 Product Benchmarking
8.9.3 Strategic Initiatives
8.10 Hitachi Hi-Rel Power Electronics Pvt. Ltd.
8.10.1 Company Overview
8.10.2 Product Benchmarking
List of Tables Table 1. Central PV inverter market estimates and forecast, 2014 - 2026 (USD Million) Table 2. String PV inverter market estimates and forecast, 2014 - 2026 (USD Million) Table 3. Micro PV inverter market estimates and forecast, 2014 - 2026 (USD Million) Table 4. Other PV inverter market estimates and forecast, 2014 - 2026 (USD Million) Table 5. Residential PV inverters market estimates and forecast, 2014 - 2026 (USD Million) Table 6. Commercial & residential PV inverters market estimates and forecast, 2014 - 2026 (USD Million) Table 7. Utility PV inverters market estimates and forecast, 2014 - 2026 (USD Million) Table 8. North America PV inverter revenue estimates and forecast, 2014 - 2026 (USD Million) Table 9. North America PV inverter revenue estimates and forecast, by product, 2014 - 2026 (USD Million) Table 10. North America PV inverter revenue estimates and forecast, by end-use, 2014 - 2026 (USD Million) Table 11. U.S. PV inverter revenue estimates and forecast, 2014 - 2026 (USD Million) Table 12. U.S. PV inverter revenue estimates and forecast, by product, 2014 - 2026 Table 13. U.S. PV inverter revenue estimates and forecast, by end-use, 2014 - 2026 Table 14. Canada PV inverter revenue estimates and forecast, 2014 - 2026 (USD Million) Table 15. Canada PV inverter revenue estimates and forecast, by product, 2014 - 2026 Table 16. Canada PV inverter revenue estimates and forecast, by end-use, 2014 - 2026 Table 17. Mexico PV inverter revenue estimates and forecast, 2014 - 2026 (USD Million) Table 18. Mexico PV inverter revenue estimates and forecast, by product, 2014 - 2026 Table 19. Mexico PV inverter revenue estimates and forecast, by end-use, 2014 - 2026 Table 20. Europe PV inverter revenue estimates and forecast, 2014 - 2026 (USD Million) Table 21. Europe PV inverter revenue estimates and forecast, by product, 2014 - 2026 (USD Million) Table 22. Europe PV inverter revenue estimates and forecast, by end-use, 2014 - 2026 (USD Million) Table 23. Germany PV inverter revenue estimates and forecast, 2014 - 2026 (USD Million) Table 24. Germany PV inverter revenue estimates and forecast, by product, 2014 - 2026 Table 25. Germany PV inverter revenue estimates and forecast, by end-use, 2014 - 2026 Table 26. Italy PV inverter revenue estimates and forecast, 2014 - 2026 (USD Million) Table 27. Italy PV inverter revenue estimates and forecast, by product, 2014 - 2026 Table 28. Italy PV inverter revenue estimates and forecast, by end-use, 2014 - 2026 Table 29. U.K. PV inverter revenue estimates and forecast, 2014 - 2026 (USD Million) Table 30. U.K. PV inverter revenue estimates and forecast, by product, 2014 - 2026 Table 31. U.K. PV inverter revenue estimates and forecast, by end-use, 2014 - 2026 Table 32. Asia Pacific PV inverter revenue estimates and forecast, 2014 - 2026 (USD Million) Table 33. Asia Pacific PV inverter revenue estimates and forecast, by product, 2014 - 2026 (USD Million) Table 34. Asia Pacific PV inverter revenue estimates and forecast, by end-use, 2014 - 2026 (USD Million) Table 35. China PV inverter revenue estimates and forecast, 2014 - 2026 (USD Million) Table 36. China PV inverter revenue estimates and forecast, by product, 2014 - 2026 Table 37. China PV inverter revenue estimates and forecast, by end-use, 2014 - 2026 Table 38. Japan PV inverter revenue estimates and forecast, 2014 - 2026 (USD Million) Table 39. Japan PV inverter revenue estimates and forecast, by product, 2014 - 2026 Table 40. Japan PV inverter revenue estimates and forecast, by end-use, 2014 - 2026 Table 41. India PV inverter revenue estimates and forecast, 2014 - 2026 (USD Million) Table 42. India PV inverter revenue estimates and forecast, by product, 2014 - 2026 Table 43. India PV inverter revenue estimates and forecast, by end-use, 2014 - 2026 Table 44. Middle East & Africa (MEA) PV inverter revenue estimates and forecast, 2014 - 2026 (USD Million) Table 45. Middle East & Africa (MEA) PV inverter revenue estimates and forecast, by product, 2014 - 2026 (USD Million) Table 46. Middle East & Africa (MEA) PV inverter revenue estimates and forecast, by end-use, 2014 - 2026 (USD Million) Table 47. Central & South America (CSA) PV inverter revenue estimates and forecast, 2014 - 2026 (USD Million) Table 48. Central & South America (CSA) PV inverter revenue estimates and forecast, by product, 2014 - 2026 (USD Million) Table 49. Central & South America (CSA) PV inverter revenue estimates and forecast, by end-use, 2014 - 2026 (USD Million)
List of Figures Fig. 1 PV inverters market snapshot Fig. 2 PV inverters Market Segmentation Fig. 3 PV inverters market revenue, 2014 - 2026 (USD Million) Fig. 4 PV inverter market driver impact Fig. 5 PV inverters Value Chain Analysis Fig. 6 Global PV inverter market shares, by shipments (MWac) Fig. 7 PV inverters market variable analysis Fig. 8 Market driver impact analysis Fig. 9 Trend in solar energy (installed capacity in megawatts), 2007 - 2017 Fig. 10 Blended average solar PV price 2009 - 2017 (USD/Watt) Fig. 11 Market restraint impact analysis Fig. 12 Pestle Analysis: PV inverters market Fig. 13 PV inverters market: Product movement analysis, 2017 & 2026 USD Million, %) Fig. 14 PV inverters market: end-use movement analysis, 2017 & 2026 USD Million, %) Fig. 15 PV inverters regional market: Key takeaways Fig. 16 PV inverters market: Regional movement analysis, 2017 & 2026 USD Million, %) Fig. 17 Strategy Framework Fig. 18 PV inverters - Four Quadrant Positioning (2017)
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