PV Inverter Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Huawei, Sungrow Power, SMA, Power Electronics, FIMER, SiNENG, GoodWe

Acknowledging the kind of traction gained by this market, recently published a study report asserts the global PV Inverter Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 8.8% during the review period (2022 to 2027).

PV Inverter Market Overview

PV Inverter is one power transfer apparatus, which is used to transfer the DC power generated through PV to AC power. For the reverse process of rectification, the apparatus is so called "inverter”. When solar cells are disposed of in sunlight, it produces a direct current. However, the supply system in the form of DC power has extremely limited.

For example, fluorescent lamps, televisions, refrigerators, electric fans, and so on cannot be used directly with a DC power supply, and most electric machineries are as well. In addition, when the power supply needs to increase voltage or lower voltage, it is simply adding a Transformer in AC power system, while lifting technology of voltage in a DC system is much more complex. Therefore, in addition to direct use of communications, weather, and other special DC power users, the production of electricity needs to be equipped with a PV Inverter in PV systems.

Who are the Major Players in PV Inverter Market?

The PV Inverter Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end-users. The three dependencies for the status of major companies in the market are company profile, profitable gross margin, the prices they charge. These are the main players in this market includes Huawei, Sungrow Power, SMA, Power Electronics, FIMER, SiNENG, GoodWe, SolarEdge Technologies, Ingeteam, TBEA, KSTAR, Growatt, Siemens (KACO), Delta Energy Systems, GinLong, Fronius, Schneider Electric, SOFARSOLAR, Darfon Electronics, Powerone Micro System and Others.

Recent Development:

Meinergy Signs Agreement with Huawei on a 1 GW and 500 MWh Project to Facilitate Green Development of Ghana

07 Mar 2022-Huawei Digital Power Technologies Co., Ltd. (hereinafter referred to as Huawei Digital Power) signed a strategic cooperation agreement with Meinergy Technology Co., Ltd (hereinafter referred to as Meinergy), the leading PV developer in West Africa. Under the agreement, Huawei Digital Power will provide a complete smart PV & energy storage system (ESS) solution for the 1 GW utility-scale PV plant and 500 MWh ESS project developed by Meinergy in Ghana.

Huawei Smart PV Solution Contributes to Successful Grid Connection of World's Largest PV Plant

12 Oct 2020- Chinese state-owned utility Huanghe Hydropower Development (hereafter “Huanghe Hydropower”) successfully connected the 2.2 GW PV plant to the power grid in Hainan Prefecture, northwestern China's Qinghai Province. This is the world's first ultra-high voltage power line that delivers 100% renewable energy over long distances and also the world's largest single-site renewable energy project with the shortest construction time.

What are the major Applications, Types, and Regions of PV Inverter Market?

By Type, it is segmented into

• String Inverter


• Central Inverter


• Microinverters


• Other

By Applications, it is segmented into

• Residential


• Business


• Public Utilities


• Other

PV Inverter Market Regional Analysis

In 2021, the United States overtook Canada as the largest market in North America. There is a sizable market for several types of PV inverters. Recent inverter trends in the United States include larger central inverters (1.5 MW and up) and three-phase string inverters (60 kW). Although string inverters have seen consistent growth in the United States, central inverters are expected to preserve their market share.

• North America
  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

Solar inverters, which provide a Zero-voltage Ride Through (ZVRT) system, have become more popular in China. Solar PV power plants must continue to run without interruption in order to meet the scheme's requirements. This is even more significant given that the country has the world's largest solar power-producing capacity.

What is our PV Inverter Market Report Scope?

Key Takeaways from this PV Inverter Report

• Evaluate PV Inverter market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.


• Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.


• Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.


• Analyze the sales and distribution channels across geographies to enhance top-line revenues.


• Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.


• Get a quick outlook on the PV Inverter market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.


• Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.

Frequently Asked Questions

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Who are the key players in PV Inverter Market?

Huawei, Sungrow Power, SMA, Power Electronics, FIMER, SiNENG, GoodWe, SolarEdge Technologies, Ingeteam, TBEA, KSTAR, Growatt, Siemens (KACO), Delta Energy Systems, GinLong, Fronius, Schneider Electric, SOFARSOLAR, Darfon Electronics, Powerone Micro System

What regions does this PV Inverter Market report cover?

North America (the United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

What are the significant types of PV Inverter Market?

String Inverter, Central Inverter, Microinverters, Others

What are the major end-use applications of the PV Inverter Market?

Residential, Business, Public Utilities Others

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