The global Solar (PV) Inverter market size is expected to reach USD 14.50 Billion in 2028 and register a revenue CAGR of 5.7% over the forecast period, according to the latest report by Reports and Data. Increasing demand for renewable energy, rising awareness about the advantages of PV inverter installation such as higher deficiency, eco-friendly infrastructure, and cost-effectiveness are some of the major factors driving market revenue growth. Other factors include rising concerns regarding environmental impact and need to reduce air pollution, and volatility of fossil fuel prices. Solar (PV) Inverter, also known as solar inverter, is an electrical converter that switches Direct Current (DC) generated from photovoltaic (PV) solar panels into Alternating Current (AC).

PV inverters are widely used in utility, commercial, and residential sectors. Utility segment accounted for largest revenue share in the global market in 2020. This can be attributed to rising preference for solar renewable energy, and decreasing costs of solar power and equipment. Asia pacific registered robust revenue growth rate among the regional markets in 2020, which is expected to expand at a rapid CAGR over the forecast period. This can be attributed to increasing industrialization, increasing number of solar PV installations, and growing concerns regarding pollution in countries in the region.

Request for a sample of this research report @ https://www.reportsanddata.com/sample-enquiry-form/1313

Competitive Outlook:

This section of the report performs a thorough investigation into the intensely competitive landscape of the global Solar (PV) Inverter Market, highlighting the leading manufacturers, strategic initiatives adopted by them, the existing growth prospects, market positions, and market shares held by each participant.  The report further emphasizes the developmental strategies undertaken by these companies, including product innovation, new product launches, and technological upgradation. Moreover, the report studies the notable business events observed in this industry, such as mergers acquisitions, joint ventures, partnerships, corporate deals, and brand promotions.

Key companies operating in the market and profiled in the report include:

• SMA Solar Technology AG
• SunPower
• Delta Electronics, Inc
• TMEIC Corporation
• Siemens Energy
• OMRON Corp
• Emerson Electric Co.
• Kstar New Energy Co. Ltd
• Power Electronics S.L.,
• Hitachi Hi-Rel Power Electronics Pvt. Ltd.

Connect with an expert for customization of Report @  https://www.reportsanddata.com/request-customization-form/1313

Some Key Highlights From the Report:

• In December 2020, Usha Shriram, launched a range of super-efficient solar off grid combo systems. The system supplies seamless power for critical loads in areas where power grid is unavailable.
• Central PV inverters segment accounted for largest revenue share in the global market in 2020. This can be attributed to increasing demand for central PV inverters due to various advantages such as cost effectiveness, enhanced efficiency, and ease of installation.
• North America accounted for significantly large revenue share in the global market in 2020. Increasing demand for solar power energy in residential sectors, and rising adoption of PV inverters by commercial and industrial sectors are some major factors driving revenue growth of the market in this region.  

Segments Covered in the report

By Product Outlook

• String Inverters,
• Central Inverters
• Micro PV Inverters
• Hybrid Inverters

By Design Outlook

• Stand-Alone Inverters
• Grid-Tie Inverters
• Battery Backup Inverters

By End-Use Outlook

• Utility
• Commercial
• Residential

Regional scope

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East Africa

Get TOC of this Report @ https://www.reportsanddata.com/report-detail/photovoltaic-pv-inverter-market/toc

Read Our More Reports

Rooftop Solar Photovoltaic (PV) Installation Market By Type (Crystalline Silicon and Thin Film), By Application (Residential and Non-Residential) Is Expected To Reach USD 40.76 Billion By 2028

Environment, Health, and Safety (EHS) Market Size, Share Analysis, By Component (Solutions, Services), By Professionals, By Application, By End-user and Segment Forecasts, 2020-2028

Aluminum-Air Battery Market Size by Product Type (Primary Aluminum-Air Battery, Mechanical Rechargeable Secondary Aluminum-Air Battery), by Application, Share Trends Analysis Report By Region, Competitive Strategies and Segment Forecasts for 2016 – 2026

About Reports and Data:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

Contact Us:

John W
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs