Authored By: Sarah
16 Feb 2021

Photovoltaic Inverter Market Size to Grow by $ 1.48 bn through 2021-2025  

Technavio research projects the photovoltaic inverter market to grow by $ 1.48 bn, decelerating at a CAGR of almost 3% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report

Photovoltaic Inverter Market: Key Market Driver

One of the primary factors that will trigger the growth of the photovoltaic inverter market size is decline in LOCE of solar power generation and cost of solar inverters. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.

Photovoltaic Inverter Market Size Will Grow by Nearly $ 1.5 Billion During 2021-2025 | Forecast and Trend Analysis

Photovoltaic Inverter Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ABB Ltd., Delta Electronics Inc., Eaton Corp. Plc, Hitachi Ltd., Huawei Investment & Holding Co. Ltd., Siemens AG, SMA Solar Technology AG, SolarEdge Technologies Inc., Toshiba Mitsubishi-Electric Industrial Systems Corp., and Total SA are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.

For more insights on this market: Download a Free Sample Report

Technavio has been monitoring the photovoltaic inverter market and it is expected to grow by USD 1.48 billion, accelerating at a CAGR of almost 3% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. View Free Sample Report

Photovoltaic Inverter Market: Emerging Trends to Impact Market Growth

Growing demand for polycrystalline solar panels is identified as one of the key photovoltaic inverter market trends. Polycrystalline solar panels are simple, efficient, and low-cost when compared with the other types of films. 

  • The decline in the cost of solar power generation is one of the major factors driving the global photovoltaic inverter market. 
  • The cost of the PV systems reduced drastically because of improvements in technology and project management. 
  • This reduction in the cost will attract more investments to this market, leading to market growth.

Photovoltaic Inverter Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ABB Ltd., Delta Electronics Inc., Eaton Corp. Plc, Hitachi Ltd., Huawei Investment & Holding Co. Ltd., Siemens AG, SMA Solar Technology AG, SolarEdge Technologies Inc., Toshiba Mitsubishi-Electric Industrial Systems Corp., and Total SA are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio offers custom research reports with detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report 

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