Technavio has been monitoring the global solar hybrid inverter market and it is expected to grow by $ 76.44 million, accelerating at a CAGR of almost 10% 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
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Solar Hybrid Inverter Market: Key Trends to impact market growth
The reduction in LCOE of solar power generation will fuel the growth of the solar hybrid inverter market size. Solar cells can generate electricity at cost-competitive rates when compared with other sources of renewable energy. This research report provides a detailed impact analysis of all the trends that are likely to influence the growth of the market in focus.
Solar Hybrid Inverter Market: Top Drivers to Boost Demand
Rise in solar energy installations is one of the primary factors driving the growth of the solar hybrid inverter market. Most of the industrialized nations have integrated significant numbers of solar power installations into their electrical grids as an alternative to conventional energy sources. Developing economies are using solar energy to reduce their dependence on expensive fossil fuel-based power generation.The report provides a detailed study of all the factors that are likely to boost the market. This analysis will enable clients to leverage growth opportunities to their advantage and set their business
Vendor Analysis: ABB Ltd., Delta Electronics Inc. and Flin Technologies Pvt. Ltd. are key growth contributors
The market is fragmented. The research report provides insights into the top market player and their product portfolio along with a pipeline analysis of upcoming developments and growth opportunities. 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., Flin Technologies Pvt. Ltd., Growatt New Energy Technology Co. Ltd., KACO new energy, Microtek International Pvt. Ltd., Schneider Electric SE, SolarEdge Technologies Inc., Su-Kam Power Systems Ltd., and Tabuchi Electric Co. Ltd. are some of the major market participants.
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Solar Hybrid Inverter Market: Key Highlights of the Report for 2021-2025
The solar hybrid inverter market has the potential to grow by USD 76.44 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 10.19%.
This solar hybrid inverter market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (commercial and residential) and geography (APAC, Europe, North America, MEA, and South America). The solar hybrid inverter market report also offers information on several market vendors, including ABB Ltd., Delta Electronics Inc., Flin Technologies Pvt. Ltd., Growatt New Energy Technology Co. Ltd., KACO new energy, Microtek International Pvt. Ltd., Schneider Electric SE, SolarEdge Technologies Inc., Su-Kam Power Systems Ltd., and Tabuchi Electric Co. Ltd. among others. View Free Sample Report
Solar Hybrid Inverter Market: Rise in solar energy installations to drive growth
One of the primary factors that will trigger the growth of the Solar Hybrid Inverter Market size is the rise in solar energy installations. Most of the industrialized nations have integrated significant numbers of solar power installations into their electrical grids as an alternative to conventional energy sources. Developing economies are using solar energy to reduce their dependence on expensive fossil fuel-based power generation. The growing awareness about the benefits of solar energy is leading to a rise in the number of solar projects worldwide. The use of solar hybrid inverters can optimize solar energy output and ensure a high rate of return for investors.
As the cost of solar power generation declines, it will attract the attention of utilities and consumers wanting to generate power from cleaner sources. This will significantly increase the number of solar projects worldwide, thus, creating a huge demand for solar hybrid inverters during the forecast period.
Solar Hybrid 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., Flin Technologies Pvt. Ltd., Growatt New Energy Technology Co. Ltd., KACO new energy, Microtek International Pvt. Ltd., Schneider Electric SE, SolarEdge Technologies Inc., Su-Kam Power Systems Ltd., and Tabuchi Electric Co. Ltd. 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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