Inverter Market

Huawei Technologies (China) and Sungrow Power Supply (China) are Leading Players in the Inverter Market

Inverters are power devices that convert DC power to usable AC power. This conversion is carried out with the help of transformers, switching circuits, and control circuits. Inverters deliver AC voltage from DC power sources. This AC voltage is useful for operating electronic and electrical equipment, which are rated for the AC mains voltage. The global inverter market is projected to grow from USD 12.8 billion in 2020 to USD 26.5 billion by 2025; it is expected to grow at a CAGR of 15.6% from 2020 to 2025. Rising number of residential solar rooftop installations and surging demand for various household devices in vehicles are the major factors driving the growth of the inverter market.

Huawei Technologies (China), Sungrow Power Supply (China), and SMA Solar Technology (Germany) are among the key players operating in the inverter market.

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Huawei Technologies is one of the major China-based information and communication technology (ICT) companies. It manufactures and distributes photovoltaic (PV) inverters and innovative solutions for intelligent PV systems. Huawei aims at developing smart solar plants that support high power yields and carry out smart operations & maintenance (O&M), which are safe and reliable, to enable its customers to maximize their return on investments (ROI) during the lifecycle of power plants.

Sungrow Power Supply manufactures and sells new energy power supply devices. It also offers services related to these devices. The company carries out R&D activities for the development of new and advanced energy power supply devices. These devices are particularly used in solar energy and wind energy sectors. They are also used in new automotive drive systems, as well as in floating and land-based PV power plants. Sungrow specifically offers string inverters, residential inverters, central inverters, and related accessories such as monitoring devices and combiner boxes.

SMA Solar Technology is a Germany-based provider of solar energy equipment. It has expertise in PV system technology. The company manufactures and supplies both string and central solar inverters used in PV systems. These inverters are majorly used in grid connection and commercial applications. They can be used with all types of solar modules, as well as in stand-alone grids and small house systems. The company offers different types of string inverters such as SUNNY HIGHPOWER, SUNNY TRIPOWER, and SUNNY BOY series. It also offers SUNNY CENTRAL series of central inverters.

Related Reports:

Inverter Market by Type (Solar Inverters, Non-solar Inverters), Output Power Rating, Output Voltage, Sales Channel (Direct, Indirect), End User (PV Plants, Residential, Commercial, Automotive), and Geography - Global Forecast to 2025

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Report Code
SE 7540
RI Published ON
2/13/2020
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