Solar Central Inverters Market by Application and Geography - Forecast and Analysis 2022-2026

The solar central inverters 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%.

This solar central inverters market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers solar central inverters market segmentation by:

• Application - Utility and non-utility
• Geography - APAC, Europe, North America, South America, and Middle East and Africa

The solar central inverters market report also offers information on several market vendors, including ABB Ltd., Delta Electronics Inc., Eaton Corp. Plc, Fimer SpA, Ginlong Technologies Co. Ltd., Hitachi Ltd., Huawei Technologies Co. Ltd., Infineon Technologies AG, Ingeteam SA, OCI Co. Ltd., Shenzen Growatt New Energy Technology Co. Ltd., Siemens AG, Sineng Electric Co. Ltd., SMA Solar Technology AG, SolarEdge Technologies Inc., Sungrow Power Supply Co. Ltd., Toshiba Corp., Yaskawa Solectria Solar, and Zhejiang CHINT Electrics Co. Ltd. among others.

What will the Solar Central Inverters Market Size be During the Forecast Period?

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Who are the Major Solar Central Inverters Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• ABB Ltd.
• Delta Electronics Inc.
• Eaton Corp. Plc
• Fimer SpA
• Ginlong Technologies Co. Ltd.
• Hitachi Ltd.
• Huawei Technologies Co. Ltd.
• Infineon Technologies AG
• Ingeteam SA
• OCI Co. Ltd.
• Shenzen Growatt New Energy Technology Co. Ltd.
• Siemens AG
• Sineng Electric Co. Ltd.
• SMA Solar Technology AG
• SolarEdge Technologies Inc.
• Sungrow Power Supply Co. Ltd.
• Toshiba Corp.
• Yaskawa Solectria Solar
• Zhejiang CHINT Electrics Co. Ltd.

 

This statistical study of the solar central inverters market encompasses successful business strategies deployed by the key vendors. The solar central inverters market is fragmented and the vendors are deploying growth strategies such as focusing more on innovation to compete in the market.

Product Insights and News

• global.abb - The company offers ABB central inverters PVS800 that are designed for fast and easy installation.

• global.abb - Through the electrification segment, the company offers electrification and building management solutions, products and services for utilities, industry, transport, and infrastructure.

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 solar central 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.

Solar Central Inverters Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the solar central 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.

Which are the Key Regions for Solar Central Inverters Market?

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56% of the market's growth will originate from APAC during the forecast period. China, Vietnam, Japan, and Australia are the key markets for solar central inverters in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increasing environmental concerns, rising demand for energy, growing population, and the improving standard of living will facilitate the solar central 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 COVID-19 outbreak in APAC disrupted various verticals of industries, mainly the renewable energy industry. Many solar PV projects across the region were postponed or canceled due to lockdowns in various countries, such as India, China, South Korea, and Japan. Owing to the delay of solar PV projects, the demand for solar central inverters declined. However, the resumption of manufacturing hubs with the lifting of nationwide lockdowns and shifting preference toward sustainable power sources may proliferate the growth of the solar power industry and the regional solar central inverters market during the forecast period. 

What are the Revenue-generating Application Segments in the Solar Central Inverters Market?

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The solar central inverters market share growth by the utility segment will be significant during the forecast period. Utility-scale projects have gained large traction in recent years owing to the shift in focus on sustainable sources along with several agreements, including the Paris Agreement on Climate Change. The increasing demand for electricity due to the rise in population will significantly propel the utility segment of the global solar central inverters market.

This report provides an accurate prediction of the contribution of all the segments to the growth of the solar central inverters market size and actionable market insights on post COVID-19 impact on each segment.

Solar Central Inverters Market: Key Drivers, Trends, and Challenges

The rising investment in renewables is notably driving the solar central inverters market growth, although factors such as the challenges posed by alternative sources of energy may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the solar central inverters industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Solar Central Inverters Market Driver

• One of the key factors driving growth in the solar central inverters market is the rising investment in renewables.
• Renewable energy is playing a vital role in the global shift toward attaining a more sustainable and less carbon-intensive environment.
• Government regulations pertaining to the reduction in carbon emissions have resulted in significant adoption of clean energy technologies across the world.
• The proliferation of clean energy technologies is further boosted by the rise in investment. During the past two decades, there has been a drastic change in the global energy mix.
• There has been significant growth in the renewable energy sector globally owing to the competitive price of power generation coupled with subsidies provided by governments and favorable regulations. Thus, the use of renewable energy sources has been growing rapidly because of increasing government support and investments. Hence, these factors will eventually boost the adoption of solar PV systems, thus increasing the demand for solar central inverters.

Key Solar Central Inverters Market Trend

• The growing demand for clean energy technologies is a solar central inverters market trend that is expected to have a positive impact in the coming years.
• The robust economic growth has led to a rapid rise in the global demand for electricity.
• The growth in global electricity demand is being propelled by emerging economies such as Asian countries. As of 2018, the electricity demand in India grew at 5% per year owing to the country's aim of achieving universal electricity access by 2025.
• The rise in energy demand has been propelling the use of fossil fuels such as coal as well as oil and gas. As fossil fuel has been extensively used in fulfilling energy demand, there has been a rise in carbon emissions across the world.
• The parallel rise in the cost of conventional sources of electricity and lighting, particularly diesel and kerosene, had steeply increased the demand for off-grid solar appliances. Hence, clean energy technologies such as solar power are being adopted to overcome such situations.
• The growing demand for clean energy technologies is expected to boost the growth of the market in focus during the forecast period.

Key Solar Central Inverters Market Challenge

• The challenges posed by alternative sources of energy will be a major challenge for the solar central inverters market during the forecast period.
• Solar energy and wind energy face competition from alternative sources of energy.
• Several countries prefer using fossil fuels over renewable source of energy due to the abundant availability of fossil fuels for generating electricity.
• The cost of establishing a renewable energy facility to produce power is high; however, comparatively, the power output from renewable sources is not as much as that of fossil fuels due to the intermittent nature of the former. Hence, the preference for non-renewable sources of energy is high across the world.
• The decline in the cost of natural gas in the past few years has encouraged the generation of power using natural gas, which is a challenge for the generation of electricity from solar power. This is expected to hinder the demand for solar power generation, thus, affecting the growth of the global solar central inverters market.

This solar central 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.

Parent Market Analysis

Technavio categorizes the global solar central inverters market as a part of the global renewable electricity market within the global independent power and renewable electricity 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 solar central inverters market during the forecast period.

Solar Central Inverters Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 15.43%
Market growth 2022-2026	$ 3.81 billion
Market structure	Fragmented
YoY growth (%)	14.9
Regional analysis	APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution	APAC at 56%
Key consumer countries	US, China, Vietnam, Japan, Australia
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	ABB Ltd., Delta Electronics Inc., Eaton Corp. Plc, Fimer SpA, Ginlong Technologies Co. Ltd., Hitachi Ltd., Huawei Technologies Co. Ltd., Infineon Technologies AG, Ingeteam SA, OCI Co. Ltd., Shenzen Growatt New Energy Technology Co. Ltd., Siemens AG, Sineng Electric Co. Ltd., SMA Solar Technology AG, SolarEdge Technologies Inc., Sungrow Power Supply Co. Ltd., Toshiba Corp., Yaskawa Solectria Solar, and Zhejiang CHINT Electrics 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 the 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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What are the Key Data Covered in this Solar Central Inverters Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive solar central inverters market growth during the next five years
• Precise estimation of the solar central inverters market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the solar central inverters industry across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of solar central inverters market vendors

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