Market Leaders - Inverter Market
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 increase investments in the renewable energy sector and the government initiatives supporting the solar installations is expected to drive the demand for global Inverter market.
The inverter market is served by a mix of large international players with operational presence across the globe and local players commanding a strong supply network in the domestic market. The leading players in the global inverter market include Huawei Technologies (China), Sungrow Power Supply (China), SMA Solar Technology (Germany), Power Electronics (Spain), FIMER (Italy). Strategies such as product launches, contracts, agreements, partnerships, collaborations, alliances, acquisitions, and expansions are followed by these companies to increase their market share.
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Huawei is a leading company that offers information and communication technology infrastructure and smart devices. The company has a vast experience in digital information technology. It offers smart PV solutions to commercial and utility sectors. Its AI and cloud technology are integrated with the PV system, which ensures optimal power generation. The solar inverters offered by the company are string inverters. Communication modules and optimization topologies integrated with the inverters are responsible for their optimum efficiency in the operation. Huawei is operational in 170 countries in the Americas, Asia Pacific, Europe, and Middle East & Africa.
Sungrow Power Supply Co. Ltd is one of the leading companies providing solutions in the field of solar energy. The company has committed to providing clean power. In 2021, it was ranked first position in the China ESG 500 list. It operates business in various segments such as energy storage systems, PV systems, electric vehicles, wind energy, and other energy power supply equipment. The PV segment offers products on various inverters such as string inverters, central inverters, and hybrid inverters for the commercial sector, large-scale PV plants, and residential sector. It also provides water installations for the floating PV systems. Sungrow Power Supply Co. Ltd has a presence in Europe, North America, the Middle East, South America, Africa, and Asia Pacific. The company operates in more than 150 countries globally and has a strong network of regional offices, R&D facilities, and sales offices.
Related Reports:
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
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