Solar Inverter Installation and Maintenance Considerations

0
2K

The global solar inverter market is expected to grow from USD 12.84 billion in 2022 to USD 18.93 billion by 2030, at a CAGR of 5.70% during the forecast period.

A solar inverter is an electronic device that converts the direct current (DC) electricity produced by a photovoltaic (PV) system into alternating current (AC) electricity, which can be used by households and businesses.

Solar inverters are a critical component of any solar energy system, as they ensure that the electricity generated by the PV panels is compatible with the grid and can be used to power appliances and equipment. The COVID-19 pandemic has had a mixed impact on the solar inverter market.

The pandemic has disrupted supply chains and caused delays in the construction of new solar energy projects, leading to a slowdown in demand for solar inverters. Additionally, the economic downturn caused by the pandemic has resulted in reduced investment in the sector. Despite these challenges, the solar inverter market is expected to continue to grow

Key Players

·         SMA Solar Technology AG (Germany)

·         Canadian Solar Inc. (Canada)

·         ABB Ltd (Switzerland)

·         SunPower Corporation (US)

·         Delta Electronics (Taiwan)

·         SolarEdge Technologies Inc. (Israel)

·         Sineng Electric Co. Ltd. (China)

·         Power Electronics (Spain)

·         Solectria Renewables LLC (US)

·         Hitachi Hi-Rel Power Electronics Pvt. Ltd (India)

Regional Analysis

The Asia-Pacific region is expected to occupy a significant portion of the global solar inverter market share, driven by increasing demand for clean energy and supportive government policies. The region is home to some of the world's largest and fastest-growing solar energy markets, including China, India, and Australia, and is expected to continue to play a major role in the growth of the solar inverter market in the coming years. The Asia-Pacific region is also home to many leading manufacturers of solar inverters and is a major hub for innovation and technology development in the sector.

Market Segmentation

The Global Solar Inverter market size has been segmented into type, application, and system type.

Based on the type, the market has been segmented into Central Inverters, Micro inverters, and String inverters.

Based on the system type, the market has been segmented into On-Grid and Off-Grid.

Based on the application, the market has been segmented into Residential, Commercial, and Utilities.

More Related Reports

oil field rentals

wind turbine maintenance companies

shore power converter

steam turbine pricing

Buscar
Categorías
Read More
Other
"The Evolution of Plastic Electroplating Techniques"
Plastic electroplating is really a transformative process that merges the light houses of...
By Yicocaw707 KASHIF 2024-09-02 13:02:10 0 360
Other
HMDS Adhesion Promoter Market In-depth Insights, Revenue Details and Regional Analysis by 2024 - 2031
HMDS Adhesion Promoter Market report has recently added by Analytic Insights Hub which helps to...
By Ritu Kumar 2024-10-29 09:04:58 0 136
Food
Stylish and Functional Motorcycle Face Masks
Motorcycle face masks are a crucial accessory for riders, serving multiple purposes that enhance...
By Tim David888 2024-06-30 07:29:07 0 491
Other
Why Black Formal Shoes Are a Must-Have in Every Man’s Wardrobe
Men's black formal shoes are a fundamental element in creating an impeccable and distinguished...
By Bersache Shoes 2024-10-14 12:01:05 0 198
Other
BCBA Exam Dumps-Get Up-to-Date BCBA Exam
Importance of BCBA  Exam Dumps [2022] | With Updated BCBA  Questions CertsMentor is the...
By Bairstow Jonny 2022-09-27 08:59:04 0 2K