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Solar Inverter Market

Global Solar Inverter Market Research Report - Forecast to 2023

  • Published Date : 16 Jun 2018
  • Market Research Future
  • Category : Energy and Power
  • Pages : 110

Market Scenario 
A solar inverter is a common inverter but uses energy from the sun that is solar energy. This type of inverter aids in changing the DC into AC using solar power. The Solar Inverter is an essential device and its basic function of the inverter is to change the variable Direct Current output of the solar panels into Alternating Current. There are a few types of solar inverters available in the market which includes Micro Inverters, String Inverters and Central Inverter. 
Growing awareness towards the use of renewable energy sources across the world that have led to the large-scale adoption of solar photovoltaic (PV) installations. The rising affordability of energy storage devices creates ample opportunities for the market. Moreover, Government also setting targets and introducing polices for promoting renewable energy as well as to reduce carbon emissions. Increasing awareness regarding fossil fuel conservation and clean fuel demand will complement the industry growth. However, the market also faces certain challenges such as high cost of solar inverter and high maintenance cost and others as well. Despite the challenges, there has been certain market trends that have pushed the market growth for solar inverter market such as power source in remote areas and also acting as a solar energy storage. 
The global solar inverter market is expected to grow at 15.65% CAGR during the forecast period. In 2016, the market was led by Asia-Pacific, with a 49.6 % share, followed by Europe and North America with shares of 35.0% and 12.3%, respectively. Solar inverter market is segmented into type, system type, end user and region wise. On the basis of type, Central type accounted for the largest market share of 45.12% in 2016 and is projected to grow at a CAGR of 15.31% during the forecast period. On the basis of system type, it is segmented into on-grid and off-grid. On-grid accounted for the largest market share and expected to grow at a CAGR of 15.86 %. On the basis of end user, utilities accounted for the largest market share of 40.10% in 2016. Solar inverter has great scope in Asia-Pacific region due to increasing demand for energy and identified as the best replacement to other conventional fossil fuel energy sources and is used to reduce carbon emission by effectively meeting the electricity needs.

Study Objectives of Global Solar Inverter Market 
- To provide detailed analysis of the market structure along with forecast for the next 10 years of the various segments and sub-segments of the Solar Inverter Market 
- To provide insights about factors affecting the market growth 
- To Analyze the Solar Inverter market based on various factors- Price Analysis, Supply Chain Analysis, and Porter’s Five Force Analysis. 
- To provide historical and forecast revenue of the market segments and sub-segments with respect to six main geographies and their countries-Europe, North America, Asia-Pacific, Rest of the World. 
- To provide country level analysis of the market with respect to the current market size and future prospective 
- To provide country level analysis of the market for segments: type, system type, end user as well as its sub segments 
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market 
- To track and analyze competitive developments such as partnerships and collaborations, product launch, mergers and acquisitions, and expansions in the global Solar Inverter market 
Intended Audience 
• Distributer & Supplier companies 
• End-Users 
• Consultants and Investment bankers 
• Government as well as Independent Regulatory Authorities

Key Findings 
- The key findings of the report “Global Solar Inverter Market” includes: 
• Growing solar systems installations, Government Initiatives and Policies and Reduction in carbon emission are some of the factors driving the market of solar inverter. 
• Utilities segment in solar inverter dominate the market by end user in terms of market share. 
• On-Grid based solar Inverter dominate the global solar inverter market with a share of 88.2% in 2016, in terms of value. 
• Central type dominate the global solar inverter market and expected to grow at a CAGR of 15.31% during the forecast period 
• Geographically, Asia-Pacific dominates the solar inverter market. China accounted for the largest market share and is projected to grow at the highest CAGR of 18.22% during the forecast period

Global Solar Inverter Market Share:

Key Players 
Some of the key players in the global solar inverter market are ABB Ltd (Switzerland), SMA Solar Technology AG (Germany), Canadian Solar Inc. (Canada), SolarEdge Technologies Inc. (Israel), SunPower Corporation (U.S.), Delta Electronics, Inc. (Taiwan), Solectria Renewables, LLC (U.S.), Sineng Electric Co., Ltd. (China), Hitachi Hi-Rel Power Electronics Pvt. Ltd (India), and Power electronics (Spain). The key strategies followed by most companies within the global solar inverter market were those of new product development and expansion. 
Segments 
The Solar Inverter market can be segmented on the basis of end user it is segmented into residential, commercial and utilities. On the basis of type, the market has been segmented as String inverter, Central inverter and Micro Inverter. On the basis of System type, it is segmented into On-Grid and off grid. 
Regional Analysis of Solar Inverter Market 
\Asia-Pacific is one of the largest markets for solar inverter in the world. There is an increasing demand for energy because of the growing population and rising disposable income in the region. Moreover, these rapidly growing economies in this region are also the top polluters in the world. Solar energy is identified as the best replacement to other conventional fossil fuel energy sources and is used to reduce carbon emission by effectively meeting the electricity needs. 
Companies Mentioned
 ABB Ltd (Switzerland), SMA Solar Technology AG (Germany), Canadian Solar Inc. (Canada), SolarEdge Technologies Inc. (Israel), SunPower Corporation (U.S.), Delta Electronics, Inc. (Taiwan), Solectria Renewables, LLC (U.S.), Sineng Electric Co., Ltd. (China), Hitachi Hi-Rel Power Electronics Pvt. Ltd (India), and Power electronics (Spain).	
Table of Contents:

1 Executive Summary
2 Introduction
2.1 Definition
2.2 Scope of the Study
2.3 Assumptions
2.1 Market Structure
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Dynamics
4.1 Drivers
4.1.1 Growing solar systems installations
4.1.2 Government Initiatives and Policies
4.1.3 Reduction in carbon emission
4.2 Restraint
4.2.1 High cost of solar inverter and high maintenance cost
4.3 Opportunity
4.3.1 As power source in Remote Areas
4.3.2 Solar Energy Storage
5 Market Factor Analysis
5.1 Porter’s 5 forces analysis
5.1.1 Threat of New Entrants
5.1.2 Bargaining Power of Suppliers
5.1.3 Threat of Substitutes
5.1.4 Bargaining Power of Buyers
5.1.5 Segment Rivalry
5.2 Supply Chain Analysis
6 Global Solar Inverter Market, By Type
6.1 Introduction
6.2 String inverter
6.3 Central inverter
6.4 Micro Inverter
7 Global Solar Inverter Market, By System Type
7.1 Introduction
7.2 On- Grid
7.3 Off-Grid
8 Global Solar Inverter Market, By End-User
8.1 Introduction
8.2 Residential
8.3 Commercial
8.4 Utilities
9 Solar Inverter Market, By Region
9.1 Introduction
9.2 Asia-Pacific
9.2.1 China
9.2.2 Japan
9.2.3 India
9.2.4 Australia
9.2.5 Rest of Asia-Pacific
9.3 Europe
9.3.1 Germany
9.3.2 Italy
9.3.3 U.K.
9.3.4 Spain
9.3.5 Rest of Europe
9.4 North America
9.4.1 U.S.
9.4.2 Canada
9.5 Rest of the World
9.5.1 Middle East
9.5.2 Africa
9.5.3 Latin America
10 Competative Landscape
10.1 Competitive Scenario
10.1.1 Product Launch
10.1.2 Expansion
10.1.3 Contract & Agreement
10.1.4 Collaboration & Partnership
10.1.5 Merger & Acquisition
11 Company Profiles
11.1 ABB Ltd.
11.1.1 Company Profile
11.1.2 Financial Overview
11.1.3 Product/Service Offering
11.1.4 Strategy
11.1.5 Swot Analysis
11.2 SMA Solar Technology AG
11.2.1 Company Profile
11.2.2 Financial Overview
11.2.3 Product/Service Offering
11.2.4 Strategy
11.2.5 Swot Analysis
11.3 Canadian Solar Inc.
11.3.1 Company Profile
11.3.2 Financial Overview
11.3.3 Product/Service Offering
11.3.4 Strategy
11.3.5 Swot Analysis
11.4 SolarEdge Technologies Inc.
11.4.1 Company Profile
11.4.2 Financial Overview
11.4.3 Product/Service Offerings
11.4.4 Strategy
11.4.5 Swot Analysis
11.5 SunPower Corporation
11.5.1 Company Profile
11.5.2 Financial Overview
11.5.3 Product/Service Offering
11.5.4 Strategy
11.5.5 Key Development (2014-2017)
11.5.6 Swot Analysis
11.6 Delta Energy Systems
11.6.1 Company Profile
11.6.2 Financial Overview
11.6.3 Product/Service Offering
11.6.4 Strategy
11.6.5 Key Development (2015-2017)
11.7 Solectria Renewables, LLC
11.7.1 Company Profile
11.7.2 Financial Overview
11.7.3 Product/Service Offering
11.7.4 Strategy
11.8 Sineng Electric Co., Ltd.
11.8.1 Company Profile
11.8.2 Financial Overview
11.8.3 Product/Service Offering
11.8.4 Strategy
11.9 Hitachi Hi-Rel Power Electronics Pvt. Ltd
11.9.1 Company Overview
11.9.2 Financial Overview
11.9.3 Product/Service Offering
11.9.4 Strategy
11.9.5 Key Development (2014)
11.1 Power Electronics
11.10.1 Company Profile
11.10.2 Financial Overview
11.10.3 Product/Service Offering
11.10.4 Strategy
11.10.5 Key Development (2016-2017)

	List of Tables:

TABLE 1 Global SOLAR INVERTER market, BY TYPE, 2015-2023 (USD million)
TABLE 2 Global SOLAR INVERTER market, BY System Type, 2015-2023 (USD million)
TABLE 3 Global SOLAR INVERTER market, BY End-User, 2015-2023 (USD million)
TABLE 4 asia-pacific: GLOBAL SOLAR INVERTER MARKET, BY country, 2015-2023 (USD MILLION)
TABLE 5 asia-pacific: GLOBAL SOLAR INVERTER MARKET, BY Type, 2015-2023 (USD MILLION)
TABLE 6 asia-pacific: GLOBAL SOLAR INVERTER MARKET, BY System type, 2015-2023 (USD MILLION)
TABLE 7 asia-pacific: GLOBAL SOLAR INVERTER MARKET, BY End-User, 2015-2023 (USD MILLION)
TABLE 8 china: GLOBAL SOLAR INVERTER MARKET, BY Type, 2015-2023 (USD MILLION)
TABLE 9 China: GLOBAL SOLAR INVERTER MARKET, BY System type, 2015-2023 (USD MILLION)
TABLE 10 China: GLOBAL SOLAR INVERTER MARKET, BY End-User, 2015-2023 (USD MILLION)
TABLE 11 japan: GLOBAL SOLAR INVERTER MARKET, BY Type, 2015-2023 (USD MILLION)
TABLE 12 japan: GLOBAL SOLAR INVERTER MARKET, BY System type, 2015-2023 (USD MILLION)
TABLE 13 japan: GLOBAL SOLAR INVERTER MARKET, BY End-User, 2015-2023 (USD MILLION)
TABLE 14 india: GLOBAL SOLAR INVERTER MARKET, BY Type, 2015-2023 (USD MILLION)
TABLE 15 india: GLOBAL SOLAR INVERTER MARKET, BY System type, 2015-2023 (USD MILLION)
TABLE 16 india: GLOBAL SOLAR INVERTER MARKET, BY End-User, 2015-2023 (USD MILLION)
TABLE 17 australia: GLOBAL SOLAR INVERTER MARKET, BY Type, 2015-2023 (USD MILLION)
TABLE 18 australia: GLOBAL SOLAR INVERTER MARKET, BY System type, 2015-2023 (USD MILLION)
TABLE 19 australia: GLOBAL SOLAR INVERTER MARKET, BY End-User, 2015-2023 (USD MILLION)
TABLE 20 rest of asia-pacific: GLOBAL SOLAR INVERTER MARKET, BY Type, 2015-2023 (USD MILLION)
TABLE 21 rest of asia-pacific: GLOBAL SOLAR INVERTER MARKET, BY System type, 2015-2023 (USD MILLION)
TABLE 22 rest of asia-pacific: GLOBAL SOLAR INVERTER MARKET, BY End-User, 2015-2023 (USD MILLION)
TABLE 23 europe: GLOBAL SOLAR INVERTER MARKET, BY country, 2015-2023 (USD MILLION)
TABLE 24 europe: GLOBAL SOLAR INVERTER MARKET, BY Type, 2015-2023 (USD MILLION)
TABLE 25 europe: GLOBAL SOLAR INVERTER MARKET, BY System type, 2015-2023 (USD MILLION)
TABLE 26 europe: GLOBAL SOLAR INVERTER MARKET, BY End-User, 2015-2023 (USD MILLION)
TABLE 27 germany: GLOBAL SOLAR INVERTER MARKET, BY Type, 2015-2023 (USD MILLION)
TABLE 28 germany: GLOBAL SOLAR INVERTER MARKET, BY System type, 2015-2023 (USD MILLION)
TABLE 29 germany: GLOBAL SOLAR INVERTER MARKET, BY End-User, 2015-2023 (USD MILLION)
TABLE 30 italy: GLOBAL SOLAR INVERTER MARKET, BY Type, 2015-2023 (USD MILLION)
TABLE 31 italy: GLOBAL SOLAR INVERTER MARKET, BY System type, 2015-2023 (USD MILLION)
TABLE 32 italy: GLOBAL SOLAR INVERTER MARKET, BY End-User, 2015-2023 (USD MILLION)
TABLE 33 u.k.: GLOBAL SOLAR INVERTER MARKET, BY Type, 2015-2023 (USD MILLION)
TABLE 34 u.k.: GLOBAL SOLAR INVERTER MARKET, BY System type, 2015-2023 (USD MILLION)
TABLE 35 u.k.: GLOBAL SOLAR INVERTER MARKET, BY End-User, 2015-2023 (USD MILLION)
TABLE 36 spain: GLOBAL SOLAR INVERTER MARKET, BY Type, 2015-2023 (USD MILLION)
TABLE 37 spain: GLOBAL SOLAR INVERTER MARKET, BY System type, 2015-2023 (USD MILLION)
TABLE 38 spain: GLOBAL SOLAR INVERTER MARKET, BY End-User, 2015-2023 (USD MILLION)
TABLE 39 rest of europe: GLOBAL SOLAR INVERTER MARKET, BY Type, 2015-2023 (USD MILLION)
TABLE 40 rest of europe: GLOBAL SOLAR INVERTER MARKET, BY System type, 2015-2023 (USD MILLION)
TABLE 41 rest of europe: GLOBAL SOLAR INVERTER MARKET, BY End-User, 2015-2023 (USD MILLION)
TABLE 42 north america: GLOBAL SOLAR INVERTER MARKET, BY country, 2015-2023 (USD MILLION)
TABLE 43 north america: GLOBAL SOLAR INVERTER MARKET, BY Type, 2015-2023 (USD MILLION)
TABLE 44 north america: GLOBAL SOLAR INVERTER MARKET, BY System type, 2015-2023 (USD MILLION)
TABLE 45 north america: GLOBAL SOLAR INVERTER MARKET, BY End-User, 2015-2023 (USD MILLION)
TABLE 46 u.s.: GLOBAL SOLAR INVERTER MARKET, BY Type, 2015-2023 (USD MILLION)
TABLE 47 u.s.: GLOBAL SOLAR INVERTER MARKET, BY System type, 2015-2023 (USD MILLION)
TABLE 48 u.s.: GLOBAL SOLAR INVERTER MARKET, BY End-User, 2015-2023 (USD MILLION)
TABLE 49 canada: GLOBAL SOLAR INVERTER MARKET, BY Type, 2015-2023 (USD MILLION)
TABLE 50 canada: GLOBAL SOLAR INVERTER MARKET, BY System type, 2015-2023 (USD MILLION)
TABLE 51 canada: GLOBAL SOLAR INVERTER MARKET, BY End-User, 2015-2023 (USD MILLION)
TABLE 52 rest of the world: GLOBAL SOLAR INVERTER MARKET, BY region, 2015-2023 (USD MILLION)
TABLE 53 rest of the world: GLOBAL SOLAR INVERTER MARKET, BY Type, 2015-2023 (USD MILLION)
TABLE 54 rest of the world: GLOBAL SOLAR INVERTER MARKET, BY System Type, 2015-2023 (USD MILLION)
TABLE 55 rest of the world: GLOBAL SOLAR INVERTER MARKET, BY End-User, 2015-2023 (USD MILLION)
TABLE 56 middle east: GLOBAL SOLAR INVERTER MARKET, BY Type, 2015-2023 (USD MILLION)
TABLE 57 middle east: GLOBAL SOLAR INVERTER MARKET, BY System Type, 2015-2023 (USD MILLION)
TABLE 58 middle east: GLOBAL SOLAR INVERTER MARKET, BY End-User, 2015-2023 (USD MILLION)
TABLE 59 africa: GLOBAL SOLAR INVERTER MARKET, BY Type, 2015-2023 (USD MILLION)
TABLE 60 africa: GLOBAL SOLAR INVERTER MARKET, BY System Type, 2015-2023 (USD MILLION)
TABLE 61 africa: GLOBAL SOLAR INVERTER MARKET, BY End-User, 2015-2023 (USD MILLION)
TABLE 62 latin america: GLOBAL SOLAR INVERTER MARKET, BY Type, 2015-2023 (USD MILLION)
TABLE 63 latin america: GLOBAL SOLAR INVERTER MARKET, BY System Type, 2015-2023 (USD MILLION)
TABLE 64 latin america: GLOBAL SOLAR INVERTER MARKET, BY End-User, 2015-2023 (USD MILLION)
TABLE 65 Key Development

 List of Figures:

FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 GLOBAL TRENDS IN RENEWABLE ENERGY INVESTMENT, SOLAR ENERGY, 2016 (USD BILLION)
FIGURE 4 PORTER'S 5 FORCES ANALYSIS OF GLOBAL SOLAR PANELS MARKET
FIGURE 5 GLOBAL SOLAR INVERTER MARKET, BY TYPE, 2016 (%)
FIGURE 6 GLOBAL SOLAR INVERTER MARKET, BY SYSTEM TYPE, 2016 (%)
FIGURE 7 GLOBAL SOLAR INVERTER MARKET, BY END-USER, 2016 (%)
FIGURE 8 GLOBAL SOLAR INVERTER MARKET, BY REGION, 2015-2023 (USD MILLION)
FIGURE 9 GLOBAL SOLAR INVERTER MARKET, BY REGION, 2015-2023 (USD MILLION)
FIGURE 10 ASIA-PACIFIC: GLOBAL SOLAR INVERTER MARKET SHARE, BY COUNTRY, 2016 (% SHARE)
FIGURE 11 ASIA-PACIFIC: GLOBAL SOLAR INVERTER MARKET, BY END-USER, 2016 (%)
FIGURE 12 CHINA: GLOBAL SOLAR INVERTER MARKET, BY END-USER, 2016 (%)
FIGURE 13 JAPAN: GLOBAL SOLAR INVERTER MARKET, BY END-USER, 2016 (%)
FIGURE 14 INDIA: GLOBAL SOLAR INVERTER MARKET, BY END-USER, 2016 (%)
FIGURE 15 AUSTRALIA: GLOBAL SOLAR INVERTER MARKET, BY END-USER, 2016 (%)
FIGURE 16 REST OF ASIA-PACIFIC: GLOBAL SOLAR INVERTER MARKET, BY END-USER, 2016 (%)
FIGURE 17 EUROPE: GLOBAL SOLAR INVERTER MARKET SHARE, BY COUNTRY, 2016 (% SHARE)
FIGURE 18 EUROPE: GLOBAL SOLAR INVERTER MARKET, BY END-USER, 2016 (%)
FIGURE 19 GERMANY: GLOBAL SOLAR INVERTER MARKET, BY END-USER, 2016 (%)
FIGURE 20 ITALY: GLOBAL SOLAR INVERTER MARKET, BY END-USER, 2016 (%)
FIGURE 21 GLOBAL SOLAR INVERTER MARKET, BY END-USER, 2016 (%)
FIGURE 22 SPAIN: GLOBAL SOLAR INVERTER MARKET, BY END-USER, 2016 (%)
FIGURE 23 REST OF EUROPE: GLOBAL SOLAR INVERTER MARKET, BY END-USER, 2016 (%)
FIGURE 24 NORTH AMERICA: GLOBAL SOLAR INVERTER MARKET SHARE, BY COUNTRY, 2016 (% SHARE)
FIGURE 25 NORTH AMERICA: GLOBAL SOLAR INVERTER MARKET, BY END-USER, 2016 (%)
FIGURE 26 U.S.: GLOBAL SOLAR INVERTER MARKET, BY END-USER, 2016 (%)
FIGURE 27 CANADA: GLOBAL SOLAR INVERTER MARKET, BY END-USER, 2016 (%)
FIGURE 28 REST OF THE WORLD: GLOBAL SOLAR INVERTER MARKET SHARE, BY COUNTRY, 2016 (% SHARE)
FIGURE 29 REST OF THE WORLD: GLOBAL SOLAR INVERTER MARKET, BY END-USER, 2016 (%)
FIGURE 30 MIDDLE EAST: GLOBAL SOLAR INVERTER MARKET, BY END-USER, 2016 (%)
FIGURE 31 AFRICA: GLOBAL SOLAR INVERTER MARKET, BY END-USER, 2016 (%)
FIGURE 32 LATIN AMERICA: GLOBAL SOLAR INVERTER MARKET, BY END-USER, 2016 (%)
FIGURE 33 GROWTH STRATEGIES ADOPTED BY KEY PLAYERS IN GLOBAL SOLAR INVERTER MARKET, 2014-2017
FIGURE 34 PRODUCT LAUNCH : % SHARE BY KEY PLAYERS, 2015-2017
FIGURE 35 EXPANSION: % SHARE BY KEY PLAYERS , 2014-2017
FIGURE 36 ABB LTD.: TOTAL REVENUE VS SEGMENTAL REVENUE (ELECTRIFICATION PRODUCTS DIVISION), 2014-2016
FIGURE 37 ABB LTD.:GEOGRAPHY REVENUE MIX (2016)
FIGURE 38 KEY DEVELOPMENTS (2015-2017)
FIGURE 39 SMA SOLAR TECHNOLOGY AG: TOTAL REVENUE VS SEGMENTAL REVENUE (RESIDENTIAL, COMMERCIAL, AND UTILITY), 2014-2016
FIGURE 40 SMA SOLAR TECHNOLOGY AG:GEOGRAPHY REVENUE MIX (2016)
FIGURE 41 KEY STRATEGY (2015-2017)
FIGURE 42 CANADIAN SOLAR INC.: TOTAL REVENUE (2014-2016)
FIGURE 43 CANADIAN SOLAR INC.:GEOGRAPHY REVENUE MIX (2016)
FIGURE 44 SOLAREDGE TECHNOLOGIES INC : TOTAL REVENUE (2014-2016)
FIGURE 45 KEY DEVELOPMENT (2015-2017)
FIGURE 46 SUNPOWER CORPORATION: TOTAL REVENUE VS SEGMENTAL REVENUE(RESIDENTIAL AND COMMERCIAL), (2014-2016)
FIGURE 47 SUNPOWER CORPORATION:GEOGRAPHY REVENUE MIX(2016)
FIGURE 48 DELTA ELECTRONICS, INC.:TOTAL REVENUE(2014-2016)
FIGURE 49 DELTA ELECTRONICS, INC:GEOGRAPHY REVENUE MIX (2016)
FIGURE 50 KEY DEVELOPMENT (2015-2017)

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