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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:
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.
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The report analyzes the market's competitive landscape and offers information on several market vendors, including:
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.
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.
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.
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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.
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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.
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
Key Solar Central Inverters Market Trend
Key Solar Central Inverters Market Challenge
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.
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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
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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