Inverter Market

Inverter Market by Type (Solar Inverters, Vehicle Inverter, others), Output Power Rating (Upto 10 kW, 10-50 kW, 51-100 kW, above 100 kW), End User (PV Plants, Residential, Automotive), Connection, Voltage, Sales Channel & Region - Global Forecast to 2027

Report Code: EP 8095 May, 2022, by marketsandmarkets.com

[223 Pages Report] The global inverter market is projected to reach USD 33.8 billion by 2027 from an estimated USD 16.3 billion in 2022, at a CAGR of 15.7% during the forecast period. The growth of the inverter market can be attributed to growing investments in the renewable power generation technologies, green infrastructure. The rapidly usage of power backup systems in various sectors is also fueling demand for inverters.

Inverter Market

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COVID-19 Impact on the Global Inverter Market

The COVID-19 pandemic has adversely affected the growth of the inverter market globally as the demand for inverters was reduced significantly. Governments worldwide have restricted many business activities to minimize the spread of the coronavirus. The wide expansions in the renewable energy sector which were planned by the government have also got shut-down due to the pandemic, this delayed the path that was targeted for the clean energy transition. Additionally, companies across different geographies had to shut down their manufacturing facilities and services as partial or full lockdowns were imposed to contain the pandemic. This resulted in increased procurement costs of raw materials due to the shortage of supplies, which ultimately led to delays in order closures. Thus, the pandemic has negatively impacted the demand for inverters in the short term.

Inverter Market Dynamics

Driver: Rising number of solar installations attributed to government-led incentives and schemes

Rapid developments in the solar energy sector in terms of power generation and utilization are contributing to the increase in the number of solar PV installations for various applications across the world. According to the Global Market Outlook for Solar Power/2022–2026—a report published by SolarPower Europe— global solar capacity doubled in 3 years from 2018, bringing the global solar fleet to one Terawatt capacity in April 2022. Solar is the fastest-growing renewable energy, representing over half of the 302 GW of renewable capacity installed internationally in 2021. Countries such as China, the US, Germany, and Japan are major markets with the highest number of new solar installations in 2019 and 2020. Flourishing solar energy markets, including India, Brazil, and China, are expected to create growth opportunities for the solar inverter system market. Moreover, an increase in the number of global PV power plant installations is also creating potential growth opportunities for the solar inverter system market.

The governments of different countries undertake various schemes and initiatives to encourage the use of inverters in industrial applications. For instance, in 2020, China’s national energy administration (NEA) has set a target for renewable power to account for over half of total installed capacity by 2025 to help support the country’s emissions goals as a part of the 14th Five-year Plan (2021–2025). China was the largest PV market in the world in 2020. The Self-generation Incentive Program (SGIP – California only) and the US tax credits make solar and energy storage an attractive proposition for commercial end users. The demand for distributed PV in Europe has been driven by incentives provided by governments of different countries to promote residential and small commercial PV installations. The feed-in tariff (FiT) is a policy designed to encourage the adoption of all kinds of renewable sources of energy to reduce energy costs. The FiT policy typically includes three provisions: guaranteed grid access, a long-term fixed purchase price contract (generally of 20 years) for the electricity produced, and the decline in contract prices for new installations that are based on the cost of renewable energy generation with a downward trend toward grid parity. This policy was introduced in several major countries, including Germany, Italy, and the UK. Japan and China also have major PV FiT programs. These countries are expected to witness growth in the solar PV markets. With a guaranteed selling price of solar panels for 20 years, customers can make a reasonable return on their investments for a long time, thereby encouraging the installation of large systems on rooftops of buildings. These government incentives and schemes encourage solar companies to invest in solar projects. This, in turn, is acting as a growth driver for the market for inverters, especially solar inverters.

Restraint: Safety risks associated with high DC voltages

In traditional PV systems, PV panels, wires, and other equipment are energized with high DC voltages. These high DC voltages pose risks to installers, maintenance personnel, and firefighters. Solar inverters with PV arrays involve high DC voltages, making it difficult to isolate DC electric devices from PV arrays using DC isolation switches. When PV modules are connected in series, they create a high voltage, which can be dangerous for installers during the system installation. Under the condition of short-circuit current, there is a possibility of electric arcs, which can result in fire and a resulting threat to people in the vicinity of a PV system. These DC arcs are difficult to extinguish, posing a risk to firefighters. The fire can damage DC cables in PV arrays, thereby leading inverters to shut down automatically while manually isolating DC cables and other components. Safety mechanisms mandated by the National Electric Code (NEC) and the Electrical Safety Authority (ESA) of the US do not eliminate all risks, which hamper the growth of the inverter market.

Opportunities: Growing demand for electric vehicles

Inverters are used in automotive applications such as EV power trains. The DC power taken from vehicles’ batteries is converted to usable AC by these inverters. Vehicle inverters are used for operating onboard electronic systems and motors of vehicles. Continental (Germany), Delphi Technologies (UK), Toyota Industries (Japan), Sensata Technologies (US), Samlex Europe (Netherlands), and BESTEK (US) are some of the key manufacturers and providers of vehicle inverters.

Technological advancements in the automotive industry and the advent of trends such as connected, autonomous, and electric vehicles have increased the demand for electronic systems in vehicles. With the emphasis being laid on various environmental regulations, the electric vehicle market has witnessed decent growth globally. This, in turn, has led to the growth of its adjacent markets. The increasing propensity for electric vehicles among consumers is likely to drive the demand for vehicle inverters. Ambitious EV targets set by governments of different countries and required policy support have resulted in a decline in the costs of electric vehicles, extension in vehicle range, and improvements in charging infrastructures, which have further fueled the demand for electric vehicles globally. These factors are expected to create lucrative opportunities for the providers of vehicle inverters during the review period.

Challenges: Availability of low quality and cheap products in gray market and pricing pressure on manufacturers

The inverter market is highly fragmented, with many local and international players. Product quality is a primary parameter for differentiation in this market. The organized sector mainly targets industrial buyers and maintains higher product quality by following various industrial standards of the product. At the same time, the unorganized sector offers cheaper alternatives. The local manufacturers in most countries target the unorganized sector and compete strongly with global suppliers in the respective markets. The leading market players are currently facing stiff competition from the new players from the unorganized market, supplying cheap and low-quality products. These gray market players overpower the big players in terms of price competitiveness and local distribution network, which is a major challenge for the players operating in the inverter market.

Solar PV systems are witnessing increased global demand as they are used to generate green power to reduce dependence on grid power. With reduced prices of solar modules, inverters account for a large share of the overall installation costs of these modules. This results in downward price pressure on manufacturers of inverters. As the overall costs of residential, commercial, industrial, and utility-based solar systems are reducing, inverter companies are bound to reduce the prices of their products. Manufacturers of solar modules are enduring more pressure than the manufacturers of solar inverters in terms of reduction in the prices of their products. Manufacturers of solar inverters are finding it difficult to accommodate this change and allow price drops in their inverters. These price drops can be primarily attributed to the development of low-cost equipment and compressed profit margins, which are indicators of the overall price decline in inverters in the near future. 

Market Trends

Inverter Market Trends

Market Interconnection

Inverter Market Interconnection

Automotive segment, by end user, is expected to grow at the highest CAGR during forecast period

The automotive segment is expected to register the highest CAGR during the forecast period. The adoption of electric vehicles is growing substantially due to the implementation of emission regulations to limit the emissions from traditional vehicles. Apart from electric vehicles, the inverters are also used in conventional vehicles for on-board power appliances. These factors are thus responsible for the increased demand of vehicle inverters which is expected to fuel the growth for the automotive segment.

By output power rating, Below 10 kW segment is expected to be the most significant contributor to the global inverter market  during the forecast period

By output power rating, the inverter market has been segmented into below 10 kW, 10 – 50 kW, 50 – 100 kW, Above 100 kW. Below 10 kW is expected to be the largest segment during the forecast period. These inverters with the power rating below 10 kW are commonly used in residential applications. The growth of the market can be mainly attributed to the increase the number of solar roof top installations in various countries. Mainly in Asia Pacific countries such as India and china, the government initiatives and schemes in developing solar pv systems is fuelling the growth of the below 10 kW segment.

“Asia Pacific: The largest and fastest inverter market”

Asia Pacific is expected to dominate the global inverter market between 2022–2027, followed by North America and the Europe. The inverter market in Asia Pacific is witnessing significant developments in the renewable energy sector due to increased initiatives towards climate change and net zero targets, which has supported the demand for inverters across countries of the region. The increasing investments in the photovoltaic (pv) plants, rise of installations in the residential sector along with the shift in transportation towards electrical vehicles in countries such as China, India, Australia, and Japan.

Inverter Market by Region

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Key Market Players

The inverter market is dominated by a few major players that have a wide regional presence. The major players in the inverter market are Huawei Technologies (China), Sungrow Power Supply (China), SMA Solar Technology (Germany), Power Electronics (Spain), FIMER (Italy), SolarEdge Technologies (Israel), Fronius International (Austria), Altenergy Power System (US), Enphase Energy (US), Darfon Electronics Corporation (China), Schneider Electric (France). Between 2018 and 2022, the companies adopted growth strategies such as sales contracts to capture a larger share of the inverter market.

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Scope of the Report

Report Metric

Details

Market size available for years

  • 2020–2027

Base year considered

  • 2021

Forecast period

  • 2022–2027

Forecast units

  • Value (USD Billion)

Segments covered

  • Inverter type, output power rating, output voltage, sales channel, connection type, end user, and region

Geographies covered

  • Asia Pacific, North America, Europe, Middle East & Africa, and South America

Companies covered

  • Huawei Technologies (China), Sungrow Power Supply (China), SMA Solar Technology (Germany), Power Electronics (Spain), FIMER (Italy), SolarEdge Technologies (Israel), Fronius International (Austria), Altenergy Power System (US), Enphase Energy (US), Darfon Electronics Corporation (China), Schneider Electric (France), General Electric (US), Delta Electronics (Taiwan), Continental (Germany), Delphi Technologies (UK), Sensata Technologies (US), Samlex Europe (Netherlands), BESTEK (US), GoodWe (China), TMEIC (Japan), Yaskawa Solectria Solar (US), KACO new energy (Germany), Growatt New Energy (China), TBEA Xinjiang SunOasis (China)

This research report categorizes the inverter market inverter type, output power rating, output voltage, sales channel, connection type, end user, and region

On the basis of inverter type, the inverter market has been segmented as follows:

On the basis of output power rating, the inverter market has been segmented as follows:

  • Below 10 kW
  • 10–50 kW
  • 50–100 kW
  • Above 100 kW

On the basis of output voltage, the inverter market has been segmented as follows:

  • 100–300 V
  • 300–500 V
  • Above 500 V

On the basis of sales channel, the inverter market has been segmented as follows:

  • Direct
  • Indirect

On the basis of connection type, the inverter market has been segmented as follows:

  • Standalone
  • Grid-tied

On the basis of end user, the inverter market has been segmented as follows:

  • Residential
  • Automotive
  • Photovoltaic (PV) Plants
  • Others (Commercial, Industrial, and utilities)

On the basis of region, the inverter market has been segmented as follows:

  • Asia Pacific
  • Europe
  • North America
  • Middle East & Africa
  • South America

Recent Developments

  • In March 2022, Huawei Technologies has signed a strategic cooperation agreement with Meienergy Technology Co., Ltd for providing smart PV and energy storage system for the 1 GW utility PV plant and 500 MWh energy storage system in Ghana which is developed by Meienergy.
  • In April 2022, Sungrow Power Supply has supplied string inverters to a 20.7 MW rooftop PV plant for electric vehicle manufacturing base of XPENG. The XPENG factory is now powered by 30% of clean electricity.
  • In November 2019, SMA Solar Technology AG collaborated with South Korea-based LG Chem. Through this collaboration, the SUNNY BOY STORAGE battery inverters of SMA and RESU 10M batteries of LG Chem will be combined to form new home storage systems. The integration of SMA battery inverters with the RESU 10M batteries is expected to result in the development of integrated DC/DC converters, which can increase the operating voltage of batteries.
  • In November 2021, FIMER made a contract with Indefol solar to supply inverter for Celadon sports & Resort Club project. this project comprises 1,677 solar panels across a total surface area of 4,800 square meters. powered by 6 of FIMER’s PVS-100-TL three-phase string inverter solution

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 29)
    1.1 STUDY OBJECTIVES
    1.2 DEFINITION
           1.2.1 INVERTER MARKET, BY OUTPUT POWER RATING: INCLUSIONS AND EXCLUSIONS
           1.2.2 INVERTER MARKET, BY END USER: INCLUSIONS AND EXCLUSIONS
           1.2.3 INVERTER MARKET, BY TYPE: INCLUSIONS AND EXCLUSIONS
           1.2.4 INVERTER MARKET, BY OUTPUT VOLTAGE: INCLUSIONS AND EXCLUSIONS
           1.2.5 INVERTER MARKET, BY CONNECTION TYPE: INCLUSIONS AND EXCLUSIONS
           1.2.6 INVERTER MARKET, BY SALES CHANNEL: INCLUSIONS AND EXCLUSIONS
    1.3 MARKET SCOPE
           1.3.1 MARKET SEGMENTATION
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY
    1.5 LIMITATIONS
    1.6 STAKEHOLDERS
    1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 35)
    2.1 RESEARCH DATA
          FIGURE 1 INVERTER MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 Key data from primary insides
                    2.1.2.3 Breakdown of primaries
    2.2 MARKET SIZE ESTIMATION
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach for arriving at market size using bottom-up approach (demand side)
                                FIGURE 2 INVERTER MARKET BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach for arriving at market size using top-down approach (Supply side)
                                FIGURE 3 INVERTER MARKET TOP-DOWN APPROACH
                                FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BASED ON SUPPLY SIDE ANALYSIS
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
          FIGURE 5 DATA TRIANGULATION
    2.4 KEY ASSUMPTIONS
          FIGURE 6 ASSUMPTIONS FOR RESEARCH STUDY
    2.5 FORECAST

3 EXECUTIVE SUMMARY (Page No. - 45)
    TABLE 1 INVERTER MARKET SNAPSHOT
    FIGURE 7 SOLAR INVERTER SEGMENT TO LEAD INVERTER MARKET, BY TYPE, DURING FORECAST PERIOD
    FIGURE 8 100–300 V SEGMENT TO LEAD INVERTER MARKET, BY OUTPUT VOLTAGE, DURING FORECAST PERIOD
    FIGURE 9 BELOW 10 KW SEGMENT TO LEAD INVERTER MARKET, BY POWER RATING, DURING FORECAST PERIOD
    FIGURE 10 GRID-TIED SEGMENT TO LEAD INVERTER MARKET, BY CONNECTION TYPE, DURING FORECAST PERIOD
    FIGURE 11 INDIRECT SEGMENT TO LEAD INVERTER MARKET, BY SALES CHANNEL, DURING FORECAST PERIOD
    FIGURE 12 RESIDENTIAL SEGMENT TO LEAD INVERTER MARKET, BY END USER, DURING FORECAST PERIOD
    FIGURE 13 ASIA PACIFIC TO DOMINATE INVERTER MARKET DURING FORECAST PERIOD

4 PREMIUM INSIGHTS (Page No. - 50)
    4.1 ATTRACTIVE OPPORTUNITIES IN INVERTER MARKET
          FIGURE 14 GOVERNMENT-LED INITIATIVES RELATED TO PV PLANTS AND AUTOMOTIVE INDUSTRY TO DRIVE GROWTH OF INVERTER MARKET DURING FORECAST PERIOD
    4.2 INVERTER MARKET, BY REGION
          FIGURE 15 ASIA PACIFIC INVERTER MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
    4.3 INVERTER MARKET, BY TYPE
          FIGURE 16 SOLAR INVERTER SEGMENT DOMINATED INVERTER MARKET IN 2021
    4.4 INVERTER MARKET, BY OUTPUT VOLTAGE
          FIGURE 17 100–300 V SEGMENT DOMINATED INVERTER MARKET IN 2021
    4.5 INVERTER MARKET, BY POWER RATING
          FIGURE 18 BELOW 10 KW SEGMENT HELD LARGEST SHARE OF INVERTER MARKET IN 2021
    4.6 INVERTER MARKET, BY CONNECTION TYPE
          FIGURE 19 GRID-TIED SEGMENT HELD LARGER SHARE OF INVERTER MARKET IN 2021
    4.7 INVERTER MARKET, BY SALES CHANNEL
          FIGURE 20 INDIRECT SALES SEGMENT HELD LARGER SHARE OF INVERTER MARKET  IN 2021
    4.8 INVERTER MARKET, BY END USER
          FIGURE 21 RESIDENTIAL SEGMENT DOMINATED INVERTER MARKET IN 2021

5 MARKET OVERVIEW (Page No. - 54)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
          FIGURE 22 INVERTER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Increasing investments in renewable energy sector
                                FIGURE 23 GLOBAL NET SOLAR CAPACITY ADDITION (GW)
                                FIGURE 24 GLOBAL INVESTMENTS IN RENEWABLE ENERGY SOURCES IN 2019 (USD BILLION)
                    5.2.1.2 Rising number of solar installations attributed to government-led incentives and schemes
                    5.2.1.3 Growing demand for residential solar rooftop installations and distributed energy resources (DERs)
           5.2.2 RESTRAINTS
                    5.2.2.1 Safety risks associated with high DC voltages
                    5.2.2.2 Strain on batteries due to prolonged use of inverters
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Growing demand for electric vehicles
                    5.2.3.2 Increasing investments in development of smart grids
                    5.2.3.3 Technological innovations in inverters and development of high-power density inverters
           5.2.4 CHALLENGES
                    5.2.4.1 Availability of low-quality and cheap products in gray market and pricing pressure on manufactures
                    5.2.4.2 Shortage of components and parts due to COVID-19 crisis
                                TABLE 2 REGION/COUNTRY-WISE PERCENTAGE DEVIATION FROM BENCHMARKS DUE  TO COVID-19
    5.3 PORTER’S FIVE FORCES ANALYSIS
          TABLE 3 INVERTER MARKET: PORTER’S FIVE FORCES ANALYSIS
          FIGURE 27 PORTER’S FIVE FORCES ANALYSIS
           5.3.1 THREAT OF SUBSTITUTES
           5.3.2 BARGAINING POWER OF SUPPLIERS
           5.3.3 BARGAINING POWER OF BUYERS
           5.3.4 THREAT OF NEW ENTRANTS
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
    5.4 KEY STAKEHOLDERS AND BUYING CRITERIA
           5.4.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 28 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY END USER
                    TABLE 4 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY END USER (%)
           5.4.2 BUYING CRITERIA
                    FIGURE 29 KEY BUYING CRITERIA FOR END USERS
                    TABLE 5 KEY BUYING CRITERIA, BY END USER
    5.5 COVID-19 IMPACT ANALYSIS
           5.5.1 COVID-19 HEALTH ASSESSMENT
                    FIGURE 30 COVID-19 GLOBAL PROPAGATION
                    FIGURE 31 COVID-19 PROPAGATION IN SELECTED COUNTRIES
           5.5.2 COVID-19 ECONOMIC ASSESSMENT
                    FIGURE 32 REVISED GDP FORECASTS FOR SELECTED G20 COUNTRIES IN 2020
    5.6 AVERAGE SELLING PRICE TREND
          FIGURE 33 AVERAGE SELLING PRICES OF INVERTERS OF DIFFERENT OUTPUT POWER RATINGS
          TABLE 6 AVERAGE SELLING PRICES OF INVERTERS OF DIFFERENT OUTPUT POWER RATINGS (USD)
    5.7 VALUE CHAIN ANALYSIS
          FIGURE 34 INVERTER MARKET VALUE CHAIN
           5.7.1 RESEARCH AND DEVELOPMENT
           5.7.2 COMPONENT PROVIDERS
           5.7.3 MANUFACTURERS/ASSEMBLERS
           5.7.4 SYSTEM INTEGRATORS AND DISTRIBUTORS
           5.7.5 END USERS
           5.7.6 POST-SALES SERVICES
    5.8 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
           5.8.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR INVERTER MANUFACTURERS
                    FIGURE 35 REVENUE SHIFT FOR INVERTERS
    5.9 TECHNOLOGY ANALYSIS
           5.9.1 Z-SOURCE INVERTER
           5.9.2 SOLAR MICRO-INVERTER
    5.10 KEY CONFERENCES AND EVENTS BETWEEN 2022 AND 2023
           TABLE 7 INVERTER MARKET: DETAILED LIST OF CONFERENCES & EVENTS
    5.11 MARKET MAP
           FIGURE 36 MARKET MAP FOR INVERTER
    5.12 INNOVATIONS AND PATENT REGISTRATIONS
           TABLE 8 INVERTER MARKET: PATENTS & INNOVATIONS
    5.13 TRADE DATA STATISTICS
           TABLE 9 ELECTRICAL STATIC CONVERTER MARKET: IMPORT STATISTICS, 2018–2021 (USD MILLION)
           TABLE 10 ELECTRICAL STATIC CONVERTER MARKET: EXPORT STATISTICS, 2018–2021 (USD MILLION)
    5.14 CASE STUDY ANALYSIS
           5.14.1 SUNGROW PROVIDES TURNKEY SOLUTION TO SOLAR POWER PLANT IN BARGAS, SPAIN, 2021
           5.14.2 MAN TRUCKS & BUSES, SOUTH AFRICA, DECIDED TO GO GREEN WITH GOODWE INVERTERS, 2021
           5.14.3 FIMER PROVIDED INVERTER TO FIVE MID-LARGE SCALE SOLAR FARM PROJECTS IN REGIONAL SOUTH AUSTRALIA, 2021
    5.15 TARIFFS, CODES, AND REGULATIONS
           5.15.1 TARIFFS RELATED TO INVERTERS
                     TABLE 11 IMPORT TARIFFS FOR HS 850440, ELECTRICAL STATIC CONVERTERS
           5.15.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 12 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 13 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 14 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 15 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 16 GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           5.15.3 CODES AND REGULATIONS RELATED TO INVERTERS
                     TABLE 17 GLOBAL: CODES AND REGULATIONS

6 INVERTER MARKET, BY OUTPUT POWER RATING (Page No. - 82)
    6.1 INTRODUCTION
          FIGURE 37 INVERTER MARKET SHARE, BY OUTPUT POWER RATING, 2021
          TABLE 18 INVERTER MARKET, BY OUTPUT POWER RATING, 2020–2027 (USD MILLION)
    6.2 BELOW 10 KW
           6.2.1 RISING DEMAND FOR RESIDENTIAL INVERTORS IN RESIDENTIAL SECTOR TO FUEL MARKET GROWTH
                    TABLE 19 BELOW 10 KW: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)
    6.3 10–50 KW
           6.3.1 EXPANDING COMMERCIAL SECTOR TO FUEL DEMAND FOR INVERTERS WITH 10–50 KW OUTPUT POWER RATING
                    TABLE 20 10–50 KW: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)
    6.4 50–100 KW
           6.4.1 GROWING DEMAND FOR SOLAR INVERTERS IN PV PLANTS AND VARIOUS INDUSTRIES TO BOOST MARKET GROWTH
                    TABLE 21 50–100 KW: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)
    6.5 ABOVE 100 KW
           6.5.1 RISING NUMBER OF PV PLANTS AND EXPANDING AUTOMOTIVE INDUSTRY TO DRIVE MARKET GROWTH
                    TABLE 22 ABOVE 100 KW: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)

7 INVERTER MARKET, BY OUTPUT VOLTAGE (Page No. - 87)
    7.1 INTRODUCTION
          FIGURE 38 INVERTER MARKET SHARE, BY OUTPUT VOLTAGE, 2021
          TABLE 23 INVERTER MARKET, BY OUTPUT VOLTAGE, 2020–2027 (USD MILLION)
    7.2 100–300 V
           7.2.1 RISING ELECTRICITY DEMAND TO DRIVE MARKET GROWTH
                    TABLE 24 100–300 V: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)
    7.3 300–500 V
           7.3.1 REQUIREMENT FOR UNINTERRUPTED POWER SUPPLY IN COMMERCIAL SECTOR AND VARIOUS INDUSTRIES TO DRIVE MARKET GROWTH
                    TABLE 25 300–500 V: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)
    7.4 ABOVE 500 V
           7.4.1 RISING INVESTMENTS IN DEVELOPMENT OF ON-GRID PV PLANTS TO DRIVE MARKET GROWTH
                    TABLE 26 ABOVE 500 V: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)

8 INVERTER MARKET, BY END USER (Page No. - 92)
    8.1 INTRODUCTION
          FIGURE 39 INVERTER MARKET SHARE, BY END USER, 2021
          TABLE 27 INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
    8.2 RESIDENTIAL
           8.2.1 GOVERNMENT-LED INITIATIVES TO PROMOTE INSTALLATION OF ROOFTOP SOLAR SYSTEMS TO DRIVE MARKET GROWTH
                    TABLE 28 RESIDENTIAL: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)
    8.3 AUTOMOTIVE
           8.3.1 GROWING ADOPTION OF ELECTRIC VEHICLES AS NEW MODE OF TRANSPORTATION TO FUEL DEMAND FOR VEHICLE INVERTERS
                    TABLE 29 AUTOMOTIVE: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)
    8.4 PHOTOVOLTAIC (PV) PLANTS
           8.4.1 INCREASING RENEWABLE ENERGY POLICIES IN SEVERAL COUNTRIES TO FUEL MARKET GROWTH
                    TABLE 30 PHOTOVOLTAIC (PV) PLANT: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)
    8.5 OTHERS
          TABLE 31 OTHERS: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)

9 INVERTER MARKET, BY TYPE (Page No. - 97)
    9.1 INTRODUCTION
          FIGURE 40 INVERTER MARKET SHARE, BY TYPE, 2021
          TABLE 32 INVERTER MARKET, BY TYPE, 2020–2027 (USD MILLION)
          TABLE 33 INVERTER MARKET, BY TYPE, 2020–2027 (THOUSAND UNITS)
    9.2 SOLAR INVERTER
          TABLE 34 SOLAR INVERTER: INVERTER MARKET, BY TYPE, 2020–2027 (USD MILLION)
           9.2.1 CENTRAL INVERTER
                    9.2.1.1 Rising demand for central inverters in PV plants to drive market growth
                                TABLE 35 CENTRAL INVERTER: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)
           9.2.2 STRING INVERTER
                    9.2.2.1 Rising installation of solar panels in residential and commercial sectors to boost market growth
                                TABLE 36 STRING INVERTER: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)
           9.2.3 MICRO-INVERTER
                    9.2.3.1 Increasing demand for micro-inverters in residential sector to fuel market growth
                                TABLE 37 MICRO-INVERTER: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)
           9.2.4 HYBRID INVERTER
                    9.2.4.1 High-performance feature of hybrid inverters is driving market growth
                                TABLE 38 HYBRID INVERTER: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)
    9.3 VEHICLE INVERTER
          TABLE 39 VEHICLE INVERTER: INVERTER MARKET, BY TYPE, 2020–2027 (USD MILLION)
           9.3.1 BATTERY ELECTRIC VEHICLE (BEV)
                    9.3.1.1 Favorable government policies regarding EV vehicles globally to drive market growth
                                TABLE 40 BATTERY ELECTRIC VEHICLE: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)
           9.3.2 HYBRID ELECTRIC VEHICLE (HEV)
                    9.3.2.1 Multi-functional program in hybrid electric vehicles to drive market growth
                                TABLE 41 HYBRID ELECTRIC VEHICLE: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)
           9.3.3 PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV)
                    9.3.3.1 Increasing demand for EV vehicles to fuel market growth
                                TABLE 42 PLUG-IN HYBRID ELECTRIC VEHICLE: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)
    9.4 OTHERS
          TABLE 43 OTHERS: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)

10 INVERTER MARKET, BY CONNECTION TYPE (Page No. - 107)
     10.1 INTRODUCTION
             FIGURE 41 INVERTER MARKET SHARE, BY CONNECTION TYPE, 2021
             TABLE 44 INVERTER MARKET, BY CONNECTION TYPE, 2020–2027 (USD MILLION)
     10.2 STANDALONE
             10.2.1 INCREASING RURAL ELECTRIFICATION PROGRAMS IN SEVERAL REGIONS TO BOOST MARKET GROWTH
                        TABLE 45 STANDALONE: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)
     10.3 GRID-TIED
             10.3.1 GOVERNMENT-LED INITIATIVES TO INCREASE SOLAR ENERGY GENERATION TO DRIVE GROWTH OF GRID-TIED INVERTER MARKET
                        TABLE 46 INVERTER MARKET, BY GRID-TIED, 2020–2027 (USD MILLION)
             10.3.2 CONVENTIONAL INVERTER
                        10.3.2.1 Rise in installation of solar pv systems in residential and commercial sectors to drive market growth
                                      TABLE 47 CONVENTIONAL INVERTER: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)
             10.3.3 SMART INVERTER
                        10.3.3.1 Technological advancements in grid-tied inverters to drive market growth
                                      TABLE 48 SMART INVERTER: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)

11 INVERTER MARKET, BY SALES CHANNEL (Page No. - 112)
     11.1 INTRODUCTION
             FIGURE 42 INVERTER MARKET SHARE, BY SALES CHANNEL, 2021
             TABLE 49 INVERTER MARKET, BY SALES CHANNEL, 2020–2027 (USD MILLION)
     11.2 DIRECT SALES CHANNEL
             11.2.1 RISING PREFERENCE FOR DIRECTLY PROCURING VEHICLE INVERTERS AMONG AUTOMOBILE MANUFACTURERS TO DRIVE MARKET GROWTH
                        TABLE 50 DIRECT SALES CHANNEL: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)
     11.3 INDIRECT SALES CHANNEL
             11.3.1 INCREASING SALE OF INVERTERS IN RESIDENTIAL SECTOR AND PV PLANTS THROUGH INDIRECT CHANNELS TO DRIVE MARKET GROWTH
                        TABLE 51 INDIRECT SALES CHANNEL: INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)

12 INVERTER MARKET, BY REGION (Page No. - 115)
     12.1 INTRODUCTION
             FIGURE 43 INVERTER MARKET, BY REGION, 2021 (%)
             FIGURE 44 ASIA PACIFIC INVERTER MARKET TO REGISTER HIGHEST CAGR  FROM 2022 TO 2027
             TABLE 52 INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION)
             TABLE 53 INVERTER MARKET, BY REGION, 2020–2027 (THOUSAND UNITS)
     12.2 ASIA PACIFIC
             FIGURE 45 SNAPSHOT: INVERTER MARKET IN ASIA PACIFIC
             12.2.1 BY OUTPUT POWER RATING
                        TABLE 54 ASIA PACIFIC: INVERTER MARKET, BY OUTPUT POWER RATING, 2020–2027 (USD MILLION)
             12.2.2 BY OUTPUT VOLTAGE
                        TABLE 55 ASIA PACIFIC: INVERTER MARKET, BY OUTPUT VOLTAGE, 2020–2027 (USD MILLION)
             12.2.3 BY END USER
                        TABLE 56 ASIA PACIFIC: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
             12.2.4 BY TYPE
                        TABLE 57 ASIA PACIFIC: INVERTER MARKET, BY TYPE, 2020–2027 (USD MILLION)
             12.2.5 BY CONNECTION TYPE
                        TABLE 58 ASIA PACIFIC: INVERTER MARKET, BY CONNECTION TYPE, 2020–2027 (USD MILLION)
             12.2.6 BY SALES CHANNEL
                        TABLE 59 ASIA PACIFIC: INVERTER MARKET, BY SALES CHANNEL, 2020–2027 (USD MILLION)
             12.2.7 BY COUNTRY
                        TABLE 60 ASIA PACIFIC: INVERTER MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                        12.2.7.1 China
                                     12.2.7.1.1 Rising electricity demand in various sectors and presence of favorable government policies to fuel demand for solar inverters
                                                     TABLE 61 CHINA: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
                        12.2.7.2 India
                                     12.2.7.2.1 Rise in number of solar rooftop installations and increasing Power Shortage to fuel demand for Inverters in India
                                                     TABLE 62 INDIA: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
                        12.2.7.3 Australia
                                     12.2.7.3.1 Presence of favorable government policies for solar energy generation to boost growth of solar inverter market in Australia
                                                     TABLE 63 AUSTRALIA: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
                        12.2.7.4 Japan
                                     12.2.7.4.1 Increasing investments in residential and PV utility-scale sectors to drive market growth
                                                     TABLE 64 JAPAN: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
                        12.2.7.5 Rest of Asia Pacific
                                      TABLE 65 REST OF ASIA PACIFIC: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
     12.3 NORTH AMERICA
             FIGURE 46 SNAPSHOT: INVERTER MARKET IN NORTH AMERICA
             12.3.1 BY OUTPUT POWER RATING
                        TABLE 66 NORTH AMERICA: INVERTER MARKET, BY OUTPUT POWER RATING, 2020–2027 (USD MILLION)
             12.3.2 BY OUTPUT VOLTAGE
                        TABLE 67 NORTH AMERICA: INVERTER MARKET, BY OUTPUT VOLTAGE, 2020–2027 (USD MILLION)
             12.3.3 BY END USER
                        TABLE 68 NORTH AMERICA: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
             12.3.4 BY TYPE
                        TABLE 69 NORTH AMERICA: INVERTER MARKET, BY TYPE, 2020–2027 (USD MILLION)
             12.3.5 BY CONNECTION TYPE
                        TABLE 70 NORTH AMERICA: INVERTER MARKET, BY CONNECTION TYPE, 2020–2027 (USD MILLION)
             12.3.6 BY SALES CHANNEL
                        TABLE 71 NORTH AMERICA: INVERTER MARKET, BY SALES CHANNEL, 2020–2027 (USD MILLION)
             12.3.7 BY COUNTRY
                        TABLE 72 NORTH AMERICA: INVERTER MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                        12.3.7.1 US
                                     12.3.7.1.1 Increasing developments in solar energy field and favorable government policies to drive growth of solar inverter market in US
                                                     TABLE 73 US: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
                        12.3.7.2 Canada
                                     12.3.7.2.1 Rise in residential PV installations and supportive government policies to drive market growth
                                                     TABLE 74 CANADA: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
                        12.3.7.3 Mexico
                                     12.3.7.3.1 Increased deployment of clean energy sources in Mexico to fuel market growth
                                                     TABLE 75 MEXICO: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
     12.4 EUROPE
             12.4.1 BY OUTPUT POWER RATING
                        TABLE 76 EUROPE: INVERTER MARKET, BY OUTPUT POWER RATING, 2020–2027 (USD MILLION)
             12.4.2 BY OUTPUT VOLTAGE
                        TABLE 77 EUROPE: INVERTER MARKET, BY OUTPUT VOLTAGE, 2020–2027 (USD MILLION)
             12.4.3 BY END USER
                        TABLE 78 EUROPE: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
             12.4.4 BY TYPE
                        TABLE 79 EUROPE: INVERTER MARKET, BY TYPE, 2020–2027 (USD MILLION)
             12.4.5 BY CONNECTION TYPE
                        TABLE 80 EUROPE: INVERTER MARKET, BY CONNECTION TYPE, 2020–2027 (USD MILLION)
             12.4.6 BY SALES CHANNEL
                        TABLE 81 EUROPE: INVERTER MARKET, BY SALES CHANNEL, 2020–2027 (USD MILLION)
             12.4.7 BY COUNTRY
                        TABLE 82 EUROPE: INVERTER MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                        12.4.7.1 Germany
                                     12.4.7.1.1 Growing automotive industry and rising adoption of renewable energy to drive market growth in Germany
                                                     TABLE 83 GERMANY: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
                        12.4.7.2 UK
                                     12.4.7.2.1 Increasing investments in battery production and solar power generation to drive market growth
                                                     TABLE 84 UK: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
                        12.4.7.3 ITALY
                                     12.4.7.3.1 Rising establishment of large-scale PV plants to fuel market growth
                                                     TABLE 85 ITALY: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
                        12.4.7.4 France
                                     12.4.7.4.1 Rising demand for solar inverters in PV plants to propel market growth
                                                     TABLE 86 FRANCE: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
                        12.4.7.5 Spain
                                     12.4.7.5.1 Expanding automotive industry to drive market growth
                                                     TABLE 87 SPAIN: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
                        12.4.7.6 Rest of Europe
                                      TABLE 88 REST OF EUROPE: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
     12.5 MIDDLE EAST & AFRICA
             12.5.1 BY OUTPUT POWER RATING
                        TABLE 89 MIDDLE EAST & AFRICA: INVERTER MARKET, BY OUTPUT POWER RATING,  2020–2027 (USD MILLION)
             12.5.2 BY OUTPUT VOLTAGE
                        TABLE 90 MIDDLE EAST & AFRICA: INVERTER MARKET, BY OUTPUT VOLTAGE, 2020–2027 (USD MILLION)
             12.5.3 BY END USER
                        TABLE 91 MIDDLE EAST & AFRICA: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
             12.5.4 BY TYPE
                        TABLE 92 MIDDLE EAST & AFRICA: INVERTER MARKET, BY TYPE, 2020–2027 (USD MILLION)
             12.5.5 BY CONNECTION TYPE
                        TABLE 93 MIDDLE EAST & AFRICA: INVERTER MARKET, BY CONNECTION TYPE, 2020–2027 (USD MILLION)
             12.5.6 BY SALES CHANNEL
                        TABLE 94 MIDDLE EAST & AFRICA: INVERTER MARKET, BY SALES CHANNEL, 2020–2027 (USD MILLION)
             12.5.7 BY COUNTRY
                        TABLE 95 MIDDLE EAST & AFRICA: INVERTER MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                        12.5.7.1 Saudi Arabia
                                     12.5.7.1.1 Increasing power generation from solar resources to fuel demand for inverters
                                                     TABLE 96 SAUDI ARABIA: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
                        12.5.7.2 UAE
                                     12.5.7.2.1 Rising efforts to develop electricity sector to create demand for inverters in UAE
                                                     TABLE 97 UAE: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
                        12.5.7.3 South Africa
                                     12.5.7.3.1 Expanding automotive industry and development of PV plants to fuel growth of inverter market in South Africa
                                                     TABLE 98 SOUTH AFRICA: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
                        12.5.7.4 Rest of Middle East & Africa
                                     TABLE 99 REST OF MIDDLE EAST & AFRICA: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
     12.6 SOUTH AMERICA
             12.6.1 BY OUTPUT POWER RATING
                        TABLE 100 SOUTH AMERICA: INVERTER MARKET, BY OUTPUT POWER RATING, 2020–2027 (USD MILLION)
             12.6.2 BY OUTPUT VOLTAGE
                        TABLE 101 SOUTH AMERICA: INVERTER MARKET, BY OUTPUT VOLTAGE, 2020–2027 (USD MILLION)
             12.6.3 BY END USER
                        TABLE 102 SOUTH AMERICA: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
             12.6.4 BY TYPE
                        TABLE 103 SOUTH AMERICA: INVERTER MARKET, BY TYPE, 2020–2027 (USD MILLION)
             12.6.5 BY CONNECTION TYPE
                        TABLE 104 SOUTH AMERICA: INVERTER MARKET, BY CONNECTION TYPE, 2020–2027 (USD MILLION)
             12.6.6 BY SALES CHANNEL
                        TABLE 105 SOUTH AMERICA: INVERTER MARKET, BY SALES CHANNEL, 2020–2027 (USD MILLION)
             12.6.7 BY COUNTRY
                        TABLE 106 SOUTH AMERICA: INVERTER MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                        12.6.7.1 Brazil
                                     12.6.7.1.1 Increasing investments in solar energy technology to propel demand for inverters in Brazil
                                                     TABLE 107 BRAZIL: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
                        12.6.7.2 Argentina
                                     12.6.7.2.1 Government support to promote solar energy renewables to fuel market growth
                                                     TABLE 108 ARGENTINA: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)
                        12.6.7.3 Rest of South America
                                      TABLE 109 REST OF SOUTH AMERICA: INVERTER MARKET, BY END USER, 2020–2027 (USD MILLION)

13 COMPETITIVE LANDSCAPE (Page No. - 151)
     13.1 KEY PLAYER’S STRATEGIES/RIGHT TO WIN
             TABLE 110 OVERVIEW OF STRATEGIES ADOPTED BY TOP PLAYERS, JANUARY 2019 – MARCH 2022
     13.2 MARKET SHARE ANALYSIS OF TOP FIVE PLAYERS
             TABLE 111 INVERTER MARKET: DEGREE OF COMPETITION
             FIGURE 47 INVERTER MARKET SHARE ANALYSIS, 2021
     13.3 REVENUE ANALYSIS OF TOP 5 MARKET PLAYERS
             FIGURE 48 TOP PLAYERS IN INVERTER MARKET FROM 2017 TO 2021
     13.4 COMPANY EVALUATION QUADRANT
             13.4.1 STAR
             13.4.2 PERVASIVE
             13.4.3 EMERGING LEADER
             13.4.4 PARTICIPANT
                        FIGURE 49 INVERTER MARKET (GLOBAL) COMPANY EVALUATION MATRIX, 2021
     13.5 STARTUP/SME EVALUATION QUADRANT, 2021
             13.5.1 PROGRESSIVE COMPANY
             13.5.2 RESPONSIVE COMPANY
             13.5.3 DYNAMIC COMPANY
             13.5.4 STARTING BLOCK
                        FIGURE 50 INVERTER MARKET: STARTUP/SME EVALUATION QUADRANT, 2021
             13.5.5 COMPETITIVE BENCHMARKING
                        TABLE 112 INVERTER MARKET: DETAILED LIST OF KEY STARTUPS/SMES
                        TABLE 113 INVERTER MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
     13.6 INVERTER MARKET: COMPANY FOOTPRINT
             TABLE 114 TYPE: COMPANY FOOTPRINT
             TABLE 115 OUTPUT POWER RATING: COMPANY FOOTPRINT
             TABLE 116 BY END USER: COMPANY FOOTPRINT
             TABLE 117 REGION: COMPANY FOOTPRINT
             TABLE 118 COMPANY FOOTPRINT
     13.7 COMPETITIVE SCENARIO
             TABLE 119 INVERTER MARKET: NEW PRODUCT LAUNCHES, SEPTEMBER 2019–JANUARY 2022
             TABLE 120 INVERTER MARKET: DEALS, NOVEMBER 2019–MARCH 2022
             TABLE 121 INVERTER MARKET: OTHERS, NOVEMBER 2021–APRIL 2022

14 COMPANY PROFILES (Page No. - 169)
(Business and financial overview, Products/solutions/services offered, Recent Developments, MNM view)*
     14.1 KEY PLAYERS
             14.1.1 HUAWEI TECHNOLOGIES
                        TABLE 122 HUAWEI TECHNOLOGIES: BUSINESS OVERVIEW
                        FIGURE 51 HUAWEI TECHNOLOGIES: COMPANY SNAPSHOT, 2021
                        TABLE 123 HUAWEI TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 124 HUAWEI TECHNOLOGIES: PRODUCT LAUNCHES
                        TABLE 125 HUAWEI TECHNOLOGIES: DEALS
                        TABLE 126 HUAWEI TECHNOLOGIES: OTHERS
             14.1.2 SUNGROW POWER SUPPLY CO., LTD
                        TABLE 127 SUNGROW POWER SUPPLY CO., LTD: BUSINESS OVERVIEW
                        FIGURE 52 SUNGROW POWER SUPPLY CO., LTD: COMPANY SNAPSHOT, 2021
                        TABLE 128 SUNGROW POWER SUPPLY CO., LTD: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 129 SUNGROW POWER SUPPLY CO., LTD: PRODUCT LAUNCHES
                        TABLE 130 SUNGROW POWER SUPPLY CO., LTD: DEALS
                        TABLE 131 SUNGROW POWER SUPPLY CO., LTD: OTHERS
             14.1.3 SMA SOLAR TECHNOLOGY AG
                        TABLE 132 SMA SOLAR TECHNOLOGY AG: BUSINESS OVERVIEW
                        FIGURE 53 SMA SOLAR TECHNOLOGY AG: COMPANY SNAPSHOT, 2021
                        TABLE 133 SMA SOLAR TECHNOLOGY AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 134 SMA SOLAR TECHNOLOGY AG: PRODUCT LAUNCHES
                        TABLE 135 SMA SOLAR TECHNOLOGY AG: DEALS
                        TABLE 136 SMA SOLAR TECHNOLOGY AG: OTHERS
             14.1.4 POWER ELECTRONICS
                        TABLE 137 POWER ELECTRONICS: BUSINESS OVERVIEW
                        TABLE 138 POWER ELECTRONICS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 139 POWER ELECTRONICS: PRODUCT LAUNCHES
             14.1.5 FIMER
                        TABLE 140 FIMER: BUSINESS OVERVIEW
                        TABLE 141 FIMER: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 142 FIMER: PRODUCT LAUNCHES
                        TABLE 143 FIMER: DEALS
                        TABLE 144 FIMER: OTHERS
             14.1.6 SOLAREDGE TECHNOLOGIES
                        TABLE 145 SOLAREDGE TECHNOLOGIES: COMPANY OVERVIEW
                        FIGURE 54 SOLAREDGE TECHNOLOGIES: COMPANY SNAPSHOT, 2021
                        TABLE 146 SOLAREDGE TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 147 SOLAREDGE TECHNOLOGIES: PRODUCT LAUNCHES
             14.1.7 FRONIUS INTERNATIONAL
                        TABLE 148 FRONIUS INTERNATIONAL: BUSINESS OVERVIEW
                        TABLE 149 FRONIUS INTERNATIONAL: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 150 FRONIUS INTERNATIONAL: PRODUCT LAUNCHES
                        TABLE 151 FRONIUS INTERNATIONAL: DEALS
             14.1.8 ALTENERGY POWER SYSTEM
                        TABLE 152 ALTENERGY POWER SYSTEM: COMPANY OVERVIEW
                        TABLE 153 ALTENERGY POWER SYSTEM: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 154 ALTENERGY POWER SYSTEM: PRODUCT LAUNCHES
             14.1.9 ENPHASE ENERGY
                        TABLE 155 ENPHASE ENERGY: COMPANY OVERVIEW
                        FIGURE 55 ENPHASE ENERGY: COMPANY SNAPSHOT, 2021
                        TABLE 156 ENPHASE ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 157 ENPHASE ENERGY: PRODUCT LAUNCHES
                        TABLE 158 ENPHASE ENERGY: DEALS
             14.1.10 DARFON ELECTRONICS CORPORATION
                        TABLE 159 DARFON ELECTRONICS CORPORATION: COMPANY OVERVIEW
                        FIGURE 56 DAFRON ELECTRONICS: COMPANY SNAPSHOT, 2020
                        TABLE 160 DARFON ELECTRONICS CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 161 DARFON ELECTRONICS CORPORATION: PRODUCT LAUNCHES
             14.1.11 SCHNEIDER ELECTRIC
                        TABLE 162 SCHNEIDER ELECTRIC: BUSINESS OVERVIEW
                        FIGURE 57 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT, 2021
                        TABLE 163 SCHNEIDER ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 164 SCHNEIDER ELECTRIC: DEALS
                        TABLE 165 SCHNEIDER ELECTRIC: OTHERS
             14.1.12 GENERAL ELECTRIC
                        TABLE 166 GENERAL ELECTRIC: COMPANY OVERVIEW
                        FIGURE 58 GENERAL ELECTRIC: COMPANY SNAPSHOT, 2021
                        TABLE 167 GENERAL ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 168 GENERAL ELECTRIC: PRODUCT LAUNCHES
                        TABLE 169 GENERAL ELECTRIC: OTHERS
             14.1.13 DELTA ELECTRONICS
                        TABLE 170 DELTA ELECTRONICS: COMPANY OVERVIEW
                        FIGURE 59 DELTA ELECTRONICS: COMPANY SNAPSHOT, 2020
                        TABLE 171 DELTA ELECTRONICS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 172 DELTA ELECTRONICS: PRODUCT LAUNCHES
                        TABLE 173 DELTA ELECTRONICS: DEALS
                        TABLE 174 DELTA ELECTRONICS OTHERS
*Details on Business overview, Products offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
     14.2 OTHER PLAYERS
             14.2.1 CONTINENTAL
             14.2.2 DELPHI TECHNOLOGIES
             14.2.3 SENSATA TECHNOLOGIES
             14.2.4 SAMLEX EUROPE
             14.2.5 BESTEK
             14.2.6 GOODWE
             14.2.7 TMEIC
             14.2.8 YASKAWA SOLECTRIA SOLAR
             14.2.9 KACO NEW ENERGY
             14.2.10 GROWATT NEW ENERGY
             14.2.11 TBEA XINJIANG SUNOASIS

15 APPENDIX (Page No. - 216)
     15.1 INSIGHTS OF INDUSTRY EXPERTS
     15.2 DISCUSSION GUIDE
     15.3 KNOWLEDGE STORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL
     15.4 AVAILABLE CUSTOMIZATIONS
     15.5 RELATED REPORTS
     15.6 AUTHOR DETAILS

The study involved major activities in estimating the current size of the global inverter market. Exhaustive secondary research was done to collect information on the peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of the segments and subsegments.

Secondary Research

This research study on the inverter market involved the use of extensive secondary sources, directories, and databases, such as Hoovers, Bloomberg, Businessweek, Factiva, International Energy Agency, and BP Statistical Review of World Energy, to identify and collect information useful for a technical, market-oriented, and commercial study of the global inverter market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.

Primary Research

The inverter market `comprises several stakeholders such as inverter manufacturers, manufacturing technology providers, and technology support providers in the supply chain. The demand side of this market is characterized by the rising demand for inverters in residential, automotive, photovoltaic (PV) plants, commerical, industrial, and utility end users. The supply side is characterized by rising demand for contracts from the industrial sector, and mergers & acquisitions among big players. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakdown of primary respondents:

Inverter Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the global inverter market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and market have been identified through extensive secondary research, and their market share in the respective regions have been determined through both primary and secondary research.
  • The industry’s value chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Global Inverter Market Size: Bottom-Up Approach

Inverter Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the total market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments, the data triangulation and market breakdown processes have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand- and supply sides. Along with this, the market has been validated using both the top-down and bottom-up approaches.

Objectives of the Study

  • To define, describe, segment, and forecast the inverter market size based on inverter type, output power rating, output voltage, sales channel, connection type, and end user
  • To provide detailed information on the major drivers, restraints, opportunities, and industry-specific challenges influencing the growth of the inverter market
  • To strategically analyze the inverter market with respect to individual growth trends, prospects, and contributions of each segment to the market
  • To analyze market opportunities for stakeholders and provide a detailed competitive landscape for market leaders
  • To forecast the revenue of the market segments with respect to 5 main regions (along with countries), namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa
  • To strategically profile key players and comprehensively analyze their market ranking and core competencies
  • To track and analyze competitive developments such as new product developments, contracts & agreements, investments & expansions, and mergers & acquisitions in the inverter market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

Geographic Analysis

  • Further breakdown of region or country-specific analysis

Company Information

  • Detailed analyses and profiling of additional market players (up to 5)
Report Code
EP 8095
Published ON
May, 2022
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