New York, March 17, 2020 (GLOBE NEWSWIRE) – Reportlinker.com Announces the Release of Report “Inverter Market By Type, Output Power, Output Voltage, Distribution Channel, End-User, and Geography – Global Forecast to 2025” – https: //www.reportlinker. com / p05863998 /? utm_source = GNW
5 billion by 2025; It is expected to grow at a CAGR of 15.6% from 2020 to 2025. The growth of the market is being driven by a large influx of investments in the renewable energy sector and an increase in the number of rooftop solar installations in residential areas. Electricity from renewable energy sources such as solar and wind addresses issues related to the mismatch of supply and demand. Solar energy is heavily dependent on external conditions; By using solar inverters, however, the problems of inadequate energy supply can be eliminated so that end users can generate maximum electricity and deliver it to the grid when required. Inverters thus solve the problems related to energy supply and demand mismatch and intermittent problems related to renewable energy sources. Inverters have a long service life. They enable optimal power generation and ensure scalability, flexibility and security of power supply devices. Solar inverters are widely used in applications that use renewable solar PV energy. Prolonged use of inverters to power various devices and systems installed in vehicles can strain vehicle batteries and ultimately cause them to fail. This is one of the limiting factors in the growth of the inverter market.
The solar inverter segment is expected to hold a larger share of the inverter market than the non-solar inverter segment in the forecast period.
Microinverters are plug-and-play compact solar inverter systems that are installed under each solar panel in a solar array. The main function of these inverters is to convert the direct current generated by solar panels into alternating current at each panel level and transmit it further either for direct use or to a grid.
Microinverters have gained traction due to a number of advantages. For example, they enable the monitoring and optimization of each individual solar module in order to generate maximum output.
This facilitates maximum power point tracking (MPPT) at the panel level, which allows end users to improve the performance of their solar systems. Micro-inverters have a simpler design and are more reliable than other types of inverters.
The increasing introduction of microinverters is driving the growth of the solar inverter market at a considerable pace.
The direct sales channel segment of the inverter market is expected to grow with a higher CAGR than the segment of indirect sales channels in the forecast period.
Inverters used by end users in automobiles and homes are easy to use and install. The purchased inverters are usually installed by end users themselves.
In addition, factors such as the global increase in the production of electric vehicles and the increasing acceptance of micro-inverters and hybrid inverters, which are integrated into small or medium-sized solar systems on the roof by private and commercial end users, are contributing to the growth of direct sales in the channel segment of the inverter market in Forecast period.
The solar inverter market in APAC is expected to grow with the highest CAGR from 2020-2025.
The growth of the solar inverter market in APAC is due to increased demand for inverters from key countries such as China, India, Japan and South Korea in the region. These countries have significant potential for the growth of the heavy haulage industries.
The solar inverter market in APAC is growing due to the increasing adoption of connector solutions in the commercial and private sectors. The increasing demand for inverters from residential, automotive and PV systems in India, China and Japan is driving the growth of the solar inverter market in APAC.
In order to determine and review the market size of several segments and sub-segments, extensive primary interviews were carried out with key opinion leaders in the inverter market. The main participants are separated:
• By type of company: Tier 1 = 45%, Tier 2 = 35% and Tier 3 = 20%
• By designation: Managers at C-level = 40%, directors = 45% and others = 15%
• By region: North America = 30%, Europe = 20%, APAC = 35% and RoW = 15%
The report introduces major players in the Inverter market and analyzes their market rankings. Some prominent players featured in this report are Huawei Technologies (China), Sungrow Power Supply (China), SMA Solar Technology (Germany), Power Electronics (Spain) and ABB (Switzerland).
This research report categorizes the Inverter market by type, output power, output voltage, sales channel, end user, and region. The report describes the key drivers, restraints, challenges, and opportunities of this market along with the analysis of the value chain and market ranking.
Reasons to Buy the Report:
The report is intended to assist leading / new entrants in the Inverter market in the following ways:
1. The report comprehensively segments the market and provides the market size estimate for all the segments and sub-segments in various regions.
2. The report helps the stakeholders to get the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. The report aims to help the stakeholders understand their competitors and gain insights to improve their position in the inverter market. The Competitive Landscape section describes the competitor’s ecosystem.
Read the full report: https://www.reportlinker.com/p05863998/?utm_source=GNW
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