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The renewable energy inverters market share is expected to increase to USD 8.43 billion from 2021 to 2026 at a CAGR of 10.9%. This report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.
This renewable energy inverters market research report extensively covers market segmentation by application (solar PV, EV, and wind) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The renewable energy inverters market report also offers information on several market vendors, including Eaton Corp. Plc, Elpower Srl, Enphase Energy Inc., Fimer SpA, Fronius International GmbH, General Electric Co., GoodWe Technology Co. Ltd., Huawei Investment and Holding Co. Ltd., Ingeteam Corp. SA, KEB America Inc., Layer Electronics Srl, Panasonic Corp., Power Electronics Espana SLU, Schneider Electric SE, Siemens AG, Sineng Electric Co. Ltd., SMA Solar Technology AG, SolarEdge Technologies Inc., Sungrow Power Supply Co. Ltd., and TBEA Co. Ltd. among others.
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"The rise in the consumption of wind energy is one of the key factors driving the inverter market growth."
The declining cost of solar and wind power generation is notably driving the renewable energy inverters market growth, although factors such as inverter-associated solar PV system failures may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the renewable energy inverters industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Renewable Energy Inverters Market Driver
Key Renewable Energy Inverters Market Challenge
Key Renewable Energy Inverters Market Trend
This renewable energy inverters market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global renewable energy inverters market as a part of the global electrical components and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the renewable energy inverters market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the renewable energy inverters market encompasses successful business strategies deployed by the key vendors. The renewable energy inverters market is fragmented and the vendors are deploying growth strategies such as product differentiation to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The renewable energy inverters market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the renewable energy inverters market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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68% of the market's growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for renewable energy inverters in APAC. However, market growth in this region will be slower than the growth of the market in other regions.
The high solar PV installations and rapidly growing demand for EVs in countries such as China, India, Japan, and Australia will facilitate the renewable energy inverters market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 hindered the growth of the renewable energy inverters market in APAC. Countries such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines were under partial or full lockdowns owing to the COVID-19 pandemic. However, in H1 2021, the manufacturing and production facilities of renewable energy inverters were resumed, owing to the initiation of vaccination drives in the region. Thus, the demand for renewable energy inverters is expected to grow during the forecast period.
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The renewable energy inverters market share growth by the solar PV segment will be significant during the forecast period. The decline in the levelized cost of electricity (LCOE) of solar power generation, coupled with favorable government policies and advancements in the components of solar PV systems will be driving the installation of solar PV systems in the coming years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the renewable energy inverters market size and actionable market insights on post COVID-19 impact on each segment.
Photovoltaic Inverter market - The market share is expected to increase by USD 1.48 billion from 2020 to 2025, and the market's growth momentum will decelerate at a CAGR of 2.96%.
Solar Central Inverters market - The market share is expected to increase by USD 3.81 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 15.43%.
Renewable Energy Inverters Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 10.9% |
Market growth 2022-2026 |
$ 8.43 billion |
Market structure |
Fragmented |
YoY growth (%) |
11.83 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 68% |
Key consumer countries |
US, China, India, Japan, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Eaton Corp. Plc, Elpower Srl, Enphase Energy Inc., Fimer SpA, Fronius International GmbH, General Electric Co., GoodWe Technology Co. Ltd., Huawei Investment and Holding Co. Ltd., Ingeteam Corp. SA, KEB America Inc., Layer Electronics Srl, Panasonic Corp., Power Electronics Espana SLU, Schneider Electric SE, Siemens AG, Sineng Electric Co. Ltd., SMA Solar Technology AG, SolarEdge Technologies Inc., Sungrow Power Supply Co. Ltd., and TBEA Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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