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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Solar Central Inverters Market Outlook
The global solar central inverters market is anticipated to witness a CAGR of 13.4% in the forecast period of 2024-2032.
| Global Solar Central Inverters Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | XX |
| Market Size 2032 | USD Billion | XX |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 13.4% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 17.4% |
| CAGR 2024-2032 - Market by Country | India | 19.9% |
| CAGR 2024-2032 - Market by Country | USA | 10.9% |
| CAGR 2024-2032 - Market by Source | Utility | 14.7% |
| Market Share by Country 2023 | Japan | 5.7% |
Renewable energy plays a crucial role in global change towards a more sustainable and less carbon-intensive setting. Significant worldwide implementation of clean energy technologies is due to the governments’ carbon emission reduction legislation, which is aiding the growth of the solar central inverters.
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Market Segmentation
Using a solar inverter, the direct current (DC) electricity generated by solar panels is converted into a usable form of alternating current (AC) that can be used to supply the grid or run AC loads/appliances. The central inverter is a type of string inverter used in large-scale applications.
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The solar central inverters market can be divided based on application into:
- Utility
- Non-Utility
- Others
| CAGR 2024-2032 - Market by | Source |
| Utility | 14.7% |
| Non-utility | XX% |
| CAGR 2024-2032 - Market by | Region |
| Asia Pacific | 17.4% |
| Latin America | 12.8% |
| North America | 11.0% |
| Europe | XX% |
The EMR report looks into the regional solar central inverters markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
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Market Analysis
Due to the increasing adoption of clean energy technologies, investments are increasing in the solar central inverters market. Solar PV investment rose in 2017, according to IEA, as the share of deployment continued to expand in previously low-cost nations such as China and India. The usage of renewable energy sources has been rapidly growing with the increasing public assistance and investments. It is therefore anticipated that the increasing investments in renewable energy will drive the development of the global solar central inverters industry.
| Market Share by | Country |
| Japan | 5.7% |
| USA | XX% |
| Canada | XX% |
| UK | XX% |
Environmental pollution has induced respiratory diseases across nations, and conventional electricity sources are accessible at a high price. Thus, the need for clean energy sources such as solar power is being driven by the need to overcome these difficulties. The clean energy demand will be one of the leading market trends for solar central inverters that will drive the market growth in the forecast period.
| CAGR 2024-2032 - Market by | Country |
| India | 19.9% |
| Mexico | 12.5% |
| USA | 10.9% |
| Japan | 10.4% |
| Germany | 9.9% |
| Canada | XX% |
| UK | XX% |
| France | 9.4% |
| Italy | XX% |
| China | XX% |
| Australia | XX% |
Competitive Landscape
The report presents a detailed analysis of the following key players in the global solar central inverters market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- ABB Ltd.
- Delta Electronics Inc.
- Ingeteam Corp. SA
- SMA Solar Technology AG
- Sungrow Power Supply Co. Ltd.
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is projected to grow at a CAGR of 13.4% between 2024 and 2032.
The major drivers of the market include the increasing usage of renewable energy sources, increasing investments in renewable energy, continuous infrastructural development, rising demand for 24*7 electricity supply, increasing greenhouse gas effect, rising environmental issues, and rapid urbanisation.
An increasing adoption of clean energy technologies and increasing public assistance and investments are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Solar central inverters find their major application in utility and non-utility, among others.
The major players in the industry are ABB Ltd., Delta Electronics Inc., Ingeteam Corp. SA, SMA Solar Technology AG, and Sungrow Power Supply Co. Ltd., among others.
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