Solar Central Inverters Market 2024-2028: Size and Challenges posed by alternative sources of energy; growth driven by the Application, Some of key Companies Positioned Strategically

The solar central inverters market size by Application (Utility and Non-utility) and Geography (APAC, Europe, North America, South America, and Middle East and Africa), is forecast to increase by USD 3675.6 million. The market is expected to grow at a CAGR of   14.99% between 2024 and 2028.

• In the energy market, solar central inverters face intense competition from traditional sources of electricity generation, primarily fossil fuels. According to the International Energy Agency (IEA), non-renewable sources, including coal, oil, and gas, accounted for 72% of the global electricity generation in 2021. Notably, coal and gas electricity generation experienced significant growth, increasing by 9.3% and 10.4% respectively in the same year. Despite the global push towards renewable energy, several nations continue to rely heavily on fossil fuels due to their abundant availability. For instance, Indonesia, which aimed to reach a 23% renewable energy target by 2025, will still predominantly rely on coal for electricity generation for the coming decade.
• The Solar Central Inverter Market represents a significant growth opportunity for businesses in the renewable energy sector. These inverters convert DC power from solar panels into AC power for grid connection. Market expansion is driven by increasing solar installations worldwide, government incentives, and technological advancements. Key players include SMA Solar Technology, Huawei Technologies, and ABB. Businesses should capitalize on this trend by investing in solar central inverters to reduce carbon footprint and secure long-term energy cost savings.

Access the full report to know who are the other key countries segment-wise forecast and historic data

Some of the Key Companies:

• ABB Ltd.
• Delta Electronics Inc.
• Eaton Corp. Plc
• Fimer SpA
• Hitachi Ltd.
• Huawei Technologies Co. Ltd.
• Infineon Technologies AG
• Ingeteam Corp. S.A.
• OCI Co. Ltd.
• Shenzen Growatt New Energy Technology Co. Ltd.
• Siemens AG
• Sineng Electric Co. Ltd.
• SMA Solar Technology AG
• SolarEdge Technologies Inc.
• Sungrow Power Supply Co. Ltd.
• Toshiba Corp.
• Yaskawa Solectria Solar
• Zhejiang CHINT Electrics Co. Ltd.

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