PV Inverter Market Size, Share & Trends Report

PV Inverter Market Size, Share & Trends Analysis Report By Product (String PV Inverter, Central PV Inverter), By End-use (Commercial & Industrial, Utilities), By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: GVR-3-68038-022-4
  • Number of Pages: 93
  • Format: Electronic (PDF)

Market Segmentation

  • PV Inverter Product Outlook (Revenue, USD Million, 2018 - 2030)
    • String PV inverter
    • Central PV inverter
    • Micro PV inverter
    • Other PV inverter
  • PV Inverter End-use Outlook (Revenue, USD Million, 2018 - 2030)
    • Commercial & Industrial
    • Utilities
    • Residential
  • PV Inverter Regional Outlook (Revenue, USD Million, 2018 - 2030)
    • North America
      • North America PV Inverter Market, By Product Outlook
        • String PV inverter
        • Central PV inverter
        • Micro PV inverter
        • Other PV inverter
      • North America PV Inverter Market, By End-use
        • Commercial & Industrial
        • Utilities
        • Residential
      • U.S.
        • U.S. PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • U.S. PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
      • Canada
        • Canada PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • Canada PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
      • Mexico
        • Mexico PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • Mexico PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
    • Europe
      • Europe PV Inverter Market, By Product
        • String PV inverter
        • Central PV inverter
        • Micro PV inverter
        • Other PV inverter
      • Europe PV Inverter Market, By End-use
        • Commercial & Industrial
        • Utilities
        • Residential
      • UK
        • UK PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • UK PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
      • Germany
        • Germany PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • Germany PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
      • France
        • France PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • France PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
      • Italy
        • Italy PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • Italy PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
      • Spain
        • Spain PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • Spain PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
      • Poland
        • Poland PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • Poland PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
      • Netherlands
        • Netherlands PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • Netherlands PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
    • Asia Pacific
      • Asia Pacific PV Inverter Market, By Product
        • String PV inverter
        • Central PV inverter
        • Micro PV inverter
        • Other PV inverter
      • Asia Pacific PV Inverter Market, By End-use
        • Commercial & Industrial
        • Utilities
        • Residential
      • Japan
        • Japan PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • Japan PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
      • China
        • China PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • China PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
      • India
        • India PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • India PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
      • Australia
        • Australia PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • Australia PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
      • Thailand
        • Thailand PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • Thailand PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
      • South Korea
        • South Korea PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • South Korea PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
      • Indonesia
        • Indonesia PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • Indonesia PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
      • Malaysia
        • Malaysia PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • Malaysia PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
      • Taiwan
        • Taiwan PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • Taiwan PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
      • Vietnam
        • Vietnam PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • Vietnam PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
    • Central & South America
      • Central & South America PV Inverter Market, By Product
        • String PV inverter
        • Central PV inverter
        • Micro PV inverter
        • Other PV inverter
      • Central & South America PV Inverter Market, By End-use
        • Commercial & Industrial
        • Utilities
        • Residential
      • Brazil
        • Brazil PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • Brazil PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
      • Argentina
        • Argentina PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • Argentina PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
      • Chile
        • Chile PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • Chile PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
    • Middle East and Africa
      • Middle East and Africa PV Inverter Market, By Product
        • String PV inverter
        • Central PV inverter
        • Micro PV inverter
        • Other PV inverter
      • Middle East and Africa PV Inverter Market, By End-use
        • Commercial & Industrial
        • Utilities
        • Residential
      • South Africa
        • South Africa PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • South Africa PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
      • Saudi Arabia
        • Saudi Arabia PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • Saudi Arabia PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential
      • UAE
        • UAE PV Inverter Market, By Product
          • String PV inverter
          • Central PV inverter
          • Micro PV inverter
          • Other PV inverter
        • UAE PV Inverter Market, By End-use
          • Commercial & Industrial
          • Utilities
          • Residential

PV Inverter Market Dynamics

Drivers: Growing Demand For Electric Power Through Clean Energy Sources

Rising environmental concerns regarding the increase in carbon emissions from conventional fuels for transportation and power generation purposes have prompted countries worldwide to opt for cleaner and more efficient power sources. Furthermore, under the Paris Climate Agreement, countries like the U.S., Germany, India, Japan, and the UK have pledged to reduce their carbon footprints. The power industry has shifted its focus toward large-scale incorporation of electricity generation through renewable energy to meet the demand for electricity owing to increasing awareness regarding sustainable energy sources.

Reducing Renewable Power Generation Costs

Renewable energy prices have declined due to several government policies supporting the adoption of clean energy. For instance, the global average weighted price of levelized cost of electricity (LCOE) fell by 5% from USD 0.035/kWh in 2021 to USD 0.033/kWh in 2022. This decrease in prices of solar power generation can be attributed to reduced installation costs of solar modules, cells, inverters, and related equipment. The tumbling technology costs have reduced the total installation costs for rooftop photovoltaic systems. This has also caused rapid cost decreases for solar electricity, especially in technologically advanced nations such as the U.S. and Germany and other developing countries worldwide such as India.

Restraints: Presence Of Substitute Technology For Power Generation

The global electricity demand is anticipated to increase nearly two-thirds of the current demand over the forecast period. A growing focus on distributed power & utility projects is anticipated to bolster the market growth over the next eight years. Coal is another source of generating electricity worldwide; however, considering the degradation of coal reserves and its adverse environmental impact, there has been a rise in the use of natural gas and other renewable sources, such as wind energy, to produce electricity. The availability of natural gas in large quantities and its relatively lower prices, especially in regions such as North America, China, and Thailand, has led to increased power generation using natural gas. Increasing focus on generating electricity through cleaner sources and the degradation of coal reserves are factors anticipated to increase the share of gas-fired power generation in the global energy mix, thereby restraining the growth of PV inverter market.

What Does This Report Include?

This section will provide insights into the contents included in this pv inverter market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

PV inverter market qualitative analysis

  • Industry overview

  • Industry trends

  • Market drivers and restraints

  • Market size

  • Growth prospects

  • Porter’s analysis

  • PESTEL analysis

  • Key market opportunities prioritized

  • Competitive landscape

    • Company overview

    • Financial performance

    • Product benchmarking

    • Latest strategic developments

PV inverter market quantitative analysis

  • Market size, estimates, and forecast from 2018 to 2030

  • Market estimates and forecast for product segments up to 2030

  • Regional market size and forecast for product segments up to 2030

  • Market estimates and forecast for application segments up to 2030

  • Regional market size and forecast for application segments up to 2030

  • Company financial performance

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