Global Solar Inverter Market Research Report

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Global Solar Inverter Market 2022
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Section 01
Introduction
3
Introduction
A photovoltaic (PV) inverter is also known as a
solar inverter. It is an electrical device that
is used to change a DC (direct current) voltage
from photovoltaic arrays into AC (alternating
current) currents which result in providing power
to home appliances and some utility grids. Apart
from this, solar inverters help in maximizing
electricity production by continually varying the
resistance (load). Some of the capacities of PV
inverters are energy optimisation, temperature
management, control, and tracking of all power
plant meters, which results in operational
information. In developing countries, the
electrification program focuses on the
decentralised generation and the fast development
of distributed generation techniques, which is
expected to drive the market for photovoltaic
inverters. Renewable power generation cost has
witnessed a very steep decline and in the current
scenario are very competitive to meet the need
for new capacity. For instance, Solar PV have
resulted in a decrease of approximately 72 for
the Levelized Cost of Electricity (LCOE) which is
one of the highest cost reductions compared to
other technologies such as wind. This fall in the
prices of solar power generation came with the
reduction of installation costs for solar
modules, cells, inverters, and related
equipment. The COVID-19 pandemic has resulted in
hindering the market growth of PV inverters
globally owing to factors such as disruption in
the supply chain. Further, demand has been
reduced for the PV inverter from residential and
commercial end-users due to restricted new
construction activities and due to the diversion
of available funds by residential and commercial
end-users to sustain during the COVID-19
pandemic.
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Executive Summary
Rapid development in the renewable energy sector
and easy installation of solar inverters
Increase in government initiatives and
investments in the electrification of rural and
remote areas are anticipated to create
opportunities
Restraint
High heat loss in large sized solar inverters,
high cost, and absence of panel level monitoring
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Taxonomy
Global Solar Inverter Market
Product Type
Product Type
Connection Type
Phase

• Utilities

• Micro Inverter

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Section 02
Market Dynamics
7
Market Dynamics Drivers 1
xxxxx
D
Kindly note detailed qualitative analysis for
driver, restraint and opportunities will be
incorporated in the final deliverable report.
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Section 03
Global Solar Inverter Market Analysis By Product
Type
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Global Solar Inverter Market Value by Product Type
Global Solar Inverter Market Revenue (USD
Million), By Product Type, 2017 - 2029
Product 2017A 2018A 2019A 2020A 2021E 2022F 2023F 2024F 2025F 2026F 2027F 2028F 2029F CAGR (2021- 2029)
Central Inverter xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx x.xx
String Inverter xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx x.xx
Micro Inverter xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx x.xx
Total xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx x.xx
By product type, the central inverter segment
held the highest market share of around 52 in
2022, and is expected to maintain its dominance
during the forecast period. This is due to rise
in demand for central inverters from large
industrial and utility applications across the
globe. Moreover, rapid industrialization and
construction of renewable power infrastructure in
the developing economies such as China, India,
Japan, and others are further expected to fuel
the demand for central inverters from 2022 to
2030. The string inverter segment occupied the
second largest market share in 2021. The string
inverter is mainly used in commercial and
residential sectors. Lower initial cost and easy
installation are among the primary factors
responsible for the segment growth. These
inverters are robust, allow for high design
flexibility, deliver high efficiency, offer
three-phase variations, are well-supported (with
trusted brands), and have remote system
monitoring capabilities. The micro PV inverters
segment is projected to witness a substantial
growth rate over the forecast period. Micro PV
inverters are module-level electronics and have
become a popular choice for commercial and
industrial sectors. These inverters have the
advantage of high reliability, increased
efficiency performance through Maximum Power
Point Tracker (MPPT), ease of installation, no
space constraints, and are cost-effective.
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Global Solar Inverter Market Definition By
Product Type
Central Inverter
Content
String Inverter
Content
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Global Solar Inverter Market by Connection Types
Global Solar Inverter Market Value by Product Type
Global Solar Inverter Market Revenue (USD
Million) By Central Inverter, 2017 - 2029
Central Inverter
Global Solar Inverter Market Revenue (USD
Million) By String Inverter, 2017 - 2029
String Inverter
Kindly note similar data for all Type and
Connection Type will be included in the final
deliverable report. Above figures are for
representative only.
12
Global Solar Inverter Market by Connection Types
Global Solar Inverter Market Value by Product Type
Global Solar Inverter Market Revenue (USD
Million) By Micro Inverter, 2017 - 2029
Micro Inverter
Kindly note similar data for all Type and
Connection Type will be included in the final
deliverable report. Above figures are for
representative only.
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Section 04
Global Solar Inverter Market Analysis By
Connection Type
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Global Solar Inverter Market Value by Connection
Type
Global Solar Inverter Market Revenue (USD
Million), By Connection Type, 2017 - 2029
Connection Type 2017A 2018A 2019A 2020A 2021E 2022F 2023F 2024F 2025F 2026F 2027F 2028F 2029F CAGR (2021- 2029)
On-grid xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx x.xx
Off-grid xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx x.xx
Total xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx x.xx
On the basis of connection type, the on-grid
segment holds the largest share, in terms of
revenue, and is expected to maintain its
dominance during the forecast period. This growth
is attributed to rise in investment for direct
supply of electricity rather than storing it in
batteries. In addition, advantages of being
used as on-grid solar inverters include easy
feeding of energy, easy installation,
cost-efficiency, and managing high electricity
demand, which are expected to fuel the growth of
the market in the upcoming years.
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Global Solar Inverter Market Definition By
Connection Type
On-grid
Content
Off-grid
Content
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Global Solar Inverter Market By Connection Type
Global Solar Inverter Market Value (USD Million),
by Connection Type, 2017 - 2029
2020 Total USD 6,622.11 Million
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Global Solar Inverter Market by Connection Types
Global Solar Inverter Market Value by Connection
Type
Global Solar Inverter Market Revenue (USD
Million) By On-grid, 2017 - 2029
On-grid
Global Solar Inverter Market Revenue (USD
Million) By Off-grid, 2017 - 2029
Off-grid
Kindly note similar data for all Type and
Connection Type will be included in the final
deliverable report. Above figures are for
representative only.
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Section 05
Global Solar Inverter Market Analysis By Phase
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Global Solar Inverter Market Value by Phase
Global Solar Inverter Market Revenue (USD
Million), By Phase, 2017 - 2029
Phase 2017A 2018A 2019A 2020A 2021E 2022F 2023F 2024F 2025F 2026F 2027F 2028F 2029F CAGR (2021- 2029)
Single-phase xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx x.xx
Three-phase xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx x.xx
Total xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx x.xx
xxxxxxx
Kindly note similar data for all segments will be
included in the final deliverable report.
20
Global Solar Inverter Market Definition By Phase
Single-phase
Content
Three-phase
Content
21
Global Solar Inverter Market By Phase
Global Solar Inverter Market Value (USD Million),
by Phase, 2017 - 2029
2020 Total USD 6,622.11 Million
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Global Solar Inverter Market by Connection Types
Global Solar Inverter Market Value by Phase
Global Solar Inverter Market Revenue (USD
Million) By Single-phase 2017 - 2029
Single-phase
Global Solar Inverter Market Revenue (USD
Million) By B Three-phase, 2017 - 2029
Three-phase
Kindly note similar data for all Type and
Connection Type will be included in the final
deliverable report. Above figures are for
representative only.
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Section 06
Global Solar Inverter Market Analysis By End User
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Global Solar Inverter Market Value by End User
Global Solar Inverter Market Revenue (USD
Million), By End User, 2017 - 2029
Phase 2017A 2018A 2019A 2020A 2021E 2022F 2023F 2024F 2025F 2026F 2027F 2028F 2029F CAGR (2021- 2029)
Residential xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx x.xx
Commercial Industrial xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx x.xx
Utilities xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx x.xx
Total xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx x.xx
In terms of revenue, the utilities segment led
the PV inverter market in 2022, accounting for a
revenue share of around 46.0. The most widely
used PV Inverter in the utility sector is the
central string inverter. Increased renewable
energy demand, declining cost of solar power
equipment, and emerging government subsidies are
primary reasons for the growth of the utility
sector. The presence of key players, providing
consumers with industry-leading utility-scale
solutions to achieve higher efficiency and
reduced balance-of-system costs with their
pre-integrated power stations is driving the
growth of the segment. Based on end-use, the
market has been segmented into commercial,
residential industrial, and utilities. The
residential end-use segment has witnessed growth
on account of the increased demand for solar
renewable energy among consumers for
electrification purposes. Governments in various
countries have taken active steps with policies
and financial incentives to promote captive power
generation through renewable sources such as
power in residential buildings. Commercial
buildings include malls, retail stores, offices,
hospitals, and schools that are installing solar
power systems for captive consumption. These
sectors require a continuous supply of
electricity for their uninterrupted functioning.
Kindly note similar data for all segments will be
included in the final deliverable report.
25
Global Solar Inverter Market Definition By End
User
Residential
Content
Commercial Industrial
Content
26
Global Solar Inverter Market by Connection Types
Global Solar Inverter Market Value by End User
Global Solar Inverter Market Revenue (USD
Million) By Residential 2017 - 2029
Residential
Global Solar Inverter Market Revenue (USD
Million) By Commercial Industrial, 2017 - 2029
ThrCommercial Industrialee-phase
Kindly note similar data for all Type and
Connection Type will be included in the final
deliverable report. Above figures are for
representative only.
27
Section 07
Global Solar Inverter Market Analysis By Region
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Global Solar Inverter Market, By Region
Introduction
2016 A
2021 E
2030 F
Market Revenue
2017A USD xx Million
CAG R
xx
2022A USD xx.xx Million
Va l u e
INTRODUCTION
2030F USD xx.xx Million
Market Value Share, 2020E
Market Revenue (USD Million)
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Global Solar Inverter Market by Region
Global Solar Inverter Market Revenue (USD
Million) by Region, 2017 - 2029
2017A 2018A 2019A 2020A 2021E 2022F 2023F 2024F 2025F 2026F 2027F 2028F 2029F CAGR (2021- 2029)
North America xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx x.xx
Europe xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx x.xx
Asia Pacific xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx x.xx
Latin America xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx x.xx
Middle East Africa xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx x.xx
Total xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx xx.xx x.xx
The Asia Pacific is expected to account for the
largest revenue share of over 43.0 over the
forecast period. China is the largest contributor
to the rapid growth of this regions solar market
and is also a major global competitor. A growing
number of solar installations in developing
nations has also significantly contributed to the
growth of the market in the region. North
America occupied a significant revenue share in
2021, with the U.S. being the major contributor
to the market growth. The U.S. is a prominent
market for different types of PV inverters. Some
of the recent inverter trends in the country
include the dominance of 60 kW plus capacity
three-phase string inverters and 1.5 MW plus
capacity central inverters. Though North America
witnessed sturdy growth for string inverters, the
central PV inverters are expected to maintain the
largest market share over the forecast
period. Europe is expected to witness a
significant CAGR over the forecast period owing
to the presence of favorable government policies
and the provision of subsidies such as
residential feed-in tariffs (FITs) that encourage
customers to invest in renewable energy. Germany
holds a leading position in the manufacturing of
solar inverters in tandem with the hi-tech nature
of the inverters. German solar companies thus
pose a competitive advantage over other players.
81
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Section 8
Company Landscape
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List of Companies
Some of the key players included

• The market is highly competitive and consolidated
  due to the presence of a large number of market
  players. The dominant trend in the operations of
  these solar companies includes vertical
  integration which defends against the market
  power and reduces competition. Technology
  sourcing, skilled manpower, and strong RD are
  among the significant factors governing the
  competitiveness of the PV inverters industry.
• In March 2020, the Fimer group acquired ABBs
  solar inverter business, making the company the
  4th largest solar inverter manufacturer across
  the globe. This acquisition strategy will help
  the company to boost its presence globally. Some
  prominent players in the global PV inverter
  market include
• Delta Electronics, Inc.
• Fimer S.p.A.
• Fronius International GmbH
• Ginlong Technologies
• Huawei Technologies Co. Ltd.
• Shenzhen Growatt New Energy Co. Ltd.
• Siemens AG
• SMA Solar Technology AG
• SolarEdge Technologies Inc.
• Sungrow Power Supply Co. Ltd.

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Delta Electronics, Inc.
Headquarters
Business Description
xx
Established Date
xx
Sales Area xx Website xx
Business Strategy
Note Content
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Delta Electronics, Inc.
Types Specification
Product Product Description
xxxxxxxxxx Xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx
xxxxxxxxxx Xxxxxxxxxx Xxxxxxxxxx xxxxxxxxxx

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Delta Electronics, Inc.
Delta Electronics, Inc. Revenue (USD Million) and
Market Share () (2017-2021)
Value 2017 2018 2019 2020 2021
Revenue xx xx xx xx xx
Delta Electronics, Inc. Revenue Market Share ()
(2017-2021)

35
Delta Electronics, Inc.
S
Key Developments
W
Year Latest News
xx
O
A
T
Kindly note similar data for all companies will
be included in the final deliverable report.