PV Inverter Market Worth $13.98 Billion by 2028; Rising Adoption of Green Building Creating Boom in the Market - Arizton

CHICAGO, April 13, 2023 /PRNewswire/ -- According to Arizton's latest research report, the PV inverter market will grow at a CAGR of 13.54% from 2022-2028.

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BROWSE IN-DEPTH TOC OF THE PV INVERTER MARKET 

 94 - Tables      
122 - Figures      
299 – Pages    

The smart home is a revolutionary concept in residential spaces that enhances comfort, convenience, security, entertainment, and sustainability. A smart home can be defined as a residential space or a building equipped with special connected platforms that enable the resident of the building to remotely control electronic devices or appliances via gadgets and computing technology. Technological advances like voice control, artificial intelligence, and intelligent assistant have created a viable control center for smart and connected homes. The development of smart cities is also expected to drive individuals toward automation and higher dependence on products that incorporate the Internet of Things and Machine Learning (IoT and ML) technologies. Moreover, smart infrastructure, such as smart homes and buildings, is also expected to witness a boom in the future, offering a positive outlook for adopting smart products. With the rising demand for smart home technology, the demand for smart PV inverter technology is expected to grow.

PV Inverter Market Report Scope

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Growth of Green Building Activities Positively Impacting the Market Growth

The green building creates structures using environmentally sustainable and resource-efficient processes throughout the building's lifecycle, from sitting to design, construction, operation, maintenance, renovation, and deconstruction. Green buildings are also known as sustainable and high-performance buildings. Solar panels are an effective way for a building to meet its sustainability standards. These PV power panels can provide abundant eco-friendly energy resources, reducing or eliminating the need for electric consumption. PV inverters or controlled admission of clean and pollution-free renewable energy can reduce the requirement of electricity to the building and save energy.

Moreover, using renewable electricity in commercial buildings can reduce the building's electric appliances' energy use by an additional 10% to 20%. Thus, for several commercial and institutional buildings, the total energy cost can be reduced by one-third through the optimal implementation of PV panel strategies. This high number of installations drives the market demand for PV inverters.

Incorporation of Photovoltaic in Rooftop Creating the Market Growth

Building-integrated photovoltaics (BIPV) are photovoltaic materials used to replace conventional building materials in parts of the building envelope, such as the PV inverters' facades, curtain walls, canopies, roofs, and walls of the building. Integrating photovoltaic technology (BIPV) can provide aesthetical economic and technological solutions for buildings' electric self-sufficiency. It is the most promising technology for harvesting solar energy in urban areas. It provides multiple building benefits, including power generation from renewable energy resources, daylighting solutions, and heating and cooling load reduction.

Countries like the UK, the US, Germany, and France, are anticipated to increase demand for roof installations in the commercial and residential sectors. In addition, the growing implementation of energy storage systems is expected to accelerate demand for off-grid solar PV systems. Therefore, more building-integrated photovoltaics on the rooftops are expected to increase the PV inverter.

Geographical Analysis

In 2022, due to spiking urbanization, the APAC market construction industry projected significant growth. The demand for residential construction remained strong in developing economies—multiple real estate projects in various industrial, residential, and commercial development zones. The current trend is expected to increase momentum. Hence, the new construction sector is a crucial growth factor for the APAC PV inverter market. The PV inverter market in APAC is growing at a CAGR of 14.28% during 2022-2028.

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Key Company Profiles

• SMA Solar Technology AG
• Sungrow
• Siemens AG
• Delta Electronics, INC
• Solaredge technologies, Inc
• HUAWEI Technologies Co

• Fimer Group
• Emerson Electric Co
• GINLONG Technologies
• Power Electronics S.L
• HITACHI HI-REL Power Electronics PVT. LTD
• Bosch
• SunPower Corporation
• Samsung
• Johnson Controls
• Panasonic
• Fronius International GMBH
• Lennox
• TSI Incorporated
• Enertronica Santerno SpA

Market Segmentation

Product Type

• String Inverter
• Central Inverter
• Micro Inverter
• Other Inverter

Phase Type

• Three Phase
• Single Phase

Connection Type

• On-Grid
• Off-Grid

Power Output

• 33-110 Kw
• >110 Kw

End User

• Utilities
• Commercial
• Industrial
• Residential

Distribution Channel

• Offline
• Online

Geography

• APAC
• China
• India
• Japan
• Australia
• North America
• The US
• Canada
• Europe
• Germany
• The UK
• Spain
• France
• Italy
• Middle East & Africa
• Saudi Arabia
• The UAE
• Saudi Africa
• Latin America
• Brazil
• Mexico
• Argentina

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Building Integrated Photovoltaics (BIPV) Market - Global Outlook and Forecast 2021-2026: The global BIPV market is expected to reach USD 8.7 billion by 2026. Europe and APAC are expected to dominate the global BIPV market. Moreover, the ability of connected devices to keep smart homes self-sustained in terms of power consumption is driving the demand for BIPV from the design phase.

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Table of Content 

1 RESEARCH METHODOLOGY

2 RESEARCH OBJECTIVES

3 RESEARCH PROCESS

4 SCOPE & COVERAGE

4.1 MARKET DEFINITION

4.1.1 INCLUSIONS

4.1.2 EXCLUSIONS

4.1.3 MARKET ESTIMATION CAVEATS

4.2 BASE YEAR

4.3 SCOPE OF THE STUDY

4.4 MARKET SEGMENTATION

4.4.1 MARKET SEGMENTATION BY PRODUCT TYPE

4.4.2 MARKET SEGMENTATION BY PHASE TYPE

4.4.3 MARKET SEGMENTATION BY CONNECTION TYPE

4.4.4 MARKET SEGMENTATION BY POWER OUTPUT

4.4.5 MARKET SEGMENTATION BY END-USER

4.4.6 MARKET SEGMENTATION BY DISTRIBUTION CHANNEL

4.4.7 MARKET SEGMENTATION BY GEOGRAPHY

5 REPORT ASSUMPTIONS & CAVEATS

5.1 KEY CAVEATS

5.2 CURRENCY CONVERSION

5.3 MARKET DERIVATION

6 PREMIUM INSIGHTS

6.1.1 OPPORTUNITY & CHALLENGE ANALYSIS

6.1.2 HIGHLIGHTS

6.1.3 PRODUCT TYPE

6.1.4 PHASE TYPE

6.1.5 CONNECTION TYPE

6.1.6 END-USER TYPE

6.1.7 COMPETITIVE LANDSCAPE

7 MARKET AT A GLANCE

8 INTRODUCTION

8.1 OVERVIEW

8.2 TECHNOLOGY INTEGRATION

8.3 GLOBAL KEY HIGHLIGHTS REGARDING SOLAR ENERGY

8.4 PV INSTALLATION IN RESIDENTIAL CONSTRUCTION

8.5 PV INSTALLATION IN COMMERCIAL CONSTRUCTION

8.6 GOVERNMENT REGULATIONS PROMOTING SOLAR INVERTERS

8.6.1 OVERVIEW

8.6.2 REPOWEREU PLAN CONTRIBUTION TO SOLAR PV MARKET GROWTH

8.6.3 US INFLATION REDUCTION ACT PROVIDES BENEFITS TO PV INVERTER MARKET

8.7 SOLAR PV MARKET STATUS

8.7.1 MARKET COMPETITION FOR PV INVERTERS

8.7.2 MARKET LIFE DURATION OR PAYBACK PERIOD FOR PV INVERTERS

8.7.3 MARKET INITIAL INVESTMENT FOR PV INVERTERS

8.8 LEADING PLAYER IN PV INVERTER

8.8.1 KEY STRATEGIES BY KEY INDUSTRY PARTICIPANTS

8.9 IMPACT OF COVID-19 AND RUSSIA INVASION

8.9.1 RUSSIA & UKRAINE GLOBAL IMPACT

8.10 VALUE CHAIN

8.10.1 RAW MATERIAL SUPPLIERS & COMPONENTS

8.10.2 MANUFACTURERS

8.10.3 DEALERS/DISTRIBUTORS

8.10.4 RETAILERS

8.10.5 END-USERS

9 MARKET OPPORTUNITY & TRENDS

9.1 REGULATION ON ENERGY EFFICIENCY DRIVING PV INVERTER DEMAND

9.2 ADVANCES IN PV INVERTERS IN SMART HOMES

9.3 AIRPORT MODERNIZATION

10 MARKET GROWTH ENABLERS

10.1 GROWTH OF GREEN BUILDING ACTIVITIES

10.2 INCORPORATION OF PHOTOVOLTAIC IN ROOFTOP

10.3 SUSTAINABILITY RESHAPING GLOBAL CONSTRUCTION MARKET

10.4 INCORPORATION OF ON-SITE PHOTOVOLTAIC SOLAR POWER FOR THE DATA CENTERS MARKET

10.4.1 DATA CENTER UTILIZATION OF RENEWABLE ENERGY

11 MARKET RESTRAINTS

11.1 HIGH COST OF INSTALLING SOLAR PANELS HAMMER THE DEMAND FOR PV INVERTER

11.2 RAW MATERIAL PRICE VOLATILITY

11.3 INCREASED COMPETITION FROM CHINESE VENDORS

12 MARKET LANDSCAPE

12.1 MARKET OVERVIEW

12.2 MARKET SIZE & FORECAST

12.3 FIVE FORCES ANALYSIS

12.3.1 THREAT OF NEW ENTRANTS

12.3.2 BARGAINING POWER OF SUPPLIERS

12.3.3 BARGAINING POWER OF BUYERS

12.3.4 THREAT OF SUBSTITUTES

12.3.5 COMPETITIVE RIVALRY

13 PRODUCT TYPE

13.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)

13.1.1 MARKET OVERVIEW

13.1.2 STRING INVERTER: MARKET SIZE & FORECAST

13.1.3 CENTRAL INVERTER: MARKET SIZE & FORECAST

13.1.4 MICRO INVERTER: MARKET SIZE & FORECAST

13.1.5 OTHER INVERTER: MARKET SIZE & FORECAST

14 PHASE TYPE

14.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)

14.1.1 MARKET OVERVIEW

14.1.2 THREE PHASE: MARKET SIZE & FORECAST

14.1.3 SINGLE PHASE: MARKET SIZE & FORECAST

15 CONNECTION TYPE

15.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)

15.1.1 MARKET OVERVIEW

15.1.2 ON-GRID: MARKET SIZE & FORECAST

15.1.3 OFF GRID: MARKET SIZE & FORECAST

16 POWER OUTPUT TYPE

16.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)

16.1.1 MARKET OVERVIEW

16.1.2 <0.5-33 KW POWER OUTPUT: MARKET SIZE & FORECAST

16.1.3 33-110 KW POWER OUTPUT: MARKET SIZE & FORECAST

16.1.4 >110 KW POWER OUTPUT: MARKET SIZE & FORECAST

17 END-USER

17.1 MARKET SNAPSHOT & GROWTH ENGINE

17.2 MARKET OVERVIEW

17.3 UTILITIES

17.3.1 MARKET OVERVIEW

17.3.2 MARKET SIZE & FORECAST

17.4 COMMERCIAL

17.4.1 MARKET OVERVIEW

17.4.2 MARKET SIZE & FORECAST

17.5 INDUSTRIAL

17.5.1 MARKET OVERVIEW

17.5.2 MARKET SIZE & FORECAST

17.6 RESIDENTIAL

17.6.1 MARKET OVERVIEW

17.6.2 MARKET SIZE & FORECAST

18 DISTRIBUTION CHANNEL

18.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)

18.2 MARKET OVERVIEW

18.3 OFFLINE

18.3.1 MARKET OVERVIEW

18.3.2 DEALERS & DISTRIBUTORS

18.3.3 SPECIALTY STORES

18.3.4 MASS MARKET PLAYERS

18.3.5 MARKET SIZE & FORECAST (VALUE)

18.4 ONLINE

18.4.1 MARKET OVERVIEW

18.4.2 DIRECT SALES

18.4.3 THIRD-PARTY SALES

18.4.4 MARKET SIZE & FORECAST (VALUE)

19 GEOGRAPHY

19.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)

19.2 GEOGRAPHY OVERVIEW

20 APAC

20.1 MARKET OVERVIEW

20.2 MARKET SIZE & FORECAST

20.3 PRODUCT TYPE

20.3.1 MARKET SIZE & FORECAST

20.4 POWER OUTPUT

20.4.1 MARKET SIZE & FORECAST

20.5 PHASE TYPE

20.5.1 MARKET SIZE & FORECAST

20.6 CONNECTION TYPE

20.6.1 MARKET SIZE & FORECAST

20.7 END-USER

20.7.1 MARKET SIZE & FORECAST

20.8 DISTRIBUTION CHANNEL

20.8.1 MARKET SIZE & FORECAST

20.9 KEY COUNTRIES

20.9.1 CHINA: MARKET SIZE & FORECAST

20.9.2 INDIA: MARKET SIZE & FORECAST

20.9.3 JAPAN: MARKET SIZE & FORECAST

20.9.4 AUSTRALIA: MARKET SIZE & FORECAST

21 NORTH AMERICA

21.1 MARKET OVERVIEW

21.2 MARKET SIZE & FORECAST

21.3 PRODUCT TYPE

21.3.1 MARKET SIZE & FORECAST

21.4 POWER OUTPUT

21.4.1 MARKET SIZE & FORECAST

21.5 PHASE TYPE

21.5.1 MARKET SIZE & FORECAST

21.6 CONNECTION TYPE

21.6.1 MARKET SIZE & FORECAST

21.7 END-USER

21.7.1 MARKET SIZE & FORECAST

21.8 DISTRIBUTION CHANNEL

21.8.1 MARKET SIZE & FORECAST

21.9 KEY COUNTRIES

21.9.1 US: MARKET SIZE & FORECAST

21.9.2 CANADA: MARKET SIZE & FORECAST

22 EUROPE

22.1 MARKET OVERVIEW

22.2 MARKET SIZE & FORECAST

22.3 PRODUCT TYPE

22.3.1 MARKET SIZE & FORECAST

22.4 POWER OUTPUT

22.4.1 MARKET SIZE & FORECAST

22.5 PHASE TYPE

22.5.1 MARKET SIZE & FORECAST

22.6 CONNECTION TYPE

22.6.1 MARKET SIZE & FORECAST

22.7 END-USER

22.7.1 MARKET SIZE & FORECAST

22.8 DISTRIBUTION CHANNEL

22.8.1 MARKET SIZE & FORECAST

22.9 KEY COUNTRIES

22.9.1 GERMANY: MARKET SIZE & FORECAST

22.9.2 FRANCE: MARKET SIZE & FORECAST

22.9.3 UK: MARKET SIZE & FORECAST

22.9.4 ITALY: MARKET SIZE & FORECAST

22.9.5 SPAIN: MARKET SIZE & FORECAST

23 MEA

23.1 MARKET OVERVIEW

23.2 MARKET SIZE & FORECAST

23.3 PRODUCT TYPE

23.3.1 MARKET SIZE & FORECAST

23.4 POWER OUTPUT

23.4.1 MARKET SIZE & FORECAST

23.5 PHASE TYPE

23.5.1 MARKET SIZE & FORECAST

23.6 CONNECTION TYPE

23.6.1 MARKET SIZE & FORECAST

23.7 END-USER

23.7.1 MARKET SIZE & FORECAST

23.8 DISTRIBUTION CHANNEL

23.8.1 MARKET SIZE & FORECAST

23.9 KEY COUNTRIES

23.9.1 SAUDI ARABIA: MARKET SIZE & FORECAST

23.9.2 UAE: MARKET SIZE & FORECAST

23.9.3 SOUTH AFRICA: MARKET SIZE & FORECAST

24 LATIN AMERICA

24.1 MARKET OVERVIEW

24.2 MARKET SIZE & FORECAST

24.3 PRODUCT TYPE

24.3.1 MARKET SIZE & FORECAST

24.4 POWER OUTPUT

24.4.1 MARKET SIZE & FORECAST

24.5 PHASE TYPE

24.5.1 MARKET SIZE & FORECAST

24.6 CONNECTION TYPE

24.6.1 MARKET SIZE & FORECAST

24.7 END-USER

24.7.1 MARKET SIZE & FORECAST

24.8 DISTRIBUTION CHANNEL

24.8.1 MARKET SIZE & FORECAST

24.9 KEY COUNTRIES

24.9.1 BRAZIL: MARKET SIZE & FORECAST

24.9.2 MEXICO: MARKET SIZE & FORECAST

24.9.3 ARGENTINA: MARKET SIZE & FORECAST

25 COMPETITIVE LANDSCAPE

25.1 COMPETITION OVERVIEW

26 KEY COMPANY PROFILES

26.1 SMA SOLAR TECHNOLOGY AG

26.1.1 BUSINESS OVERVIEW

26.1.2 PRODUCT OFFERINGS

26.1.3 KEY STRATEGIES

26.1.4 KEY STRENGTHS

26.1.5 KEY OPPORTUNITIES

26.2 SUNGROW

26.3 SIEMENS AG

26.4 DELTA ELECTRONICS, INC

26.5 SOLAREDGE TECHNOLOGIES, INC.

26.6 HUAWEI TECHNOLOGIES CO

27 OTHER PROMINENT VENDORS

27.1 FIMER GROUP

27.1.1 BUSINESS OVERVIEW

27.1.2 PRODUCT OFFERINGS

27.2 EMERSON ELECTRIC CO.

27.3 GINLONG TECHNOLOGIES

27.4 POWER ELECTRONICS S.L

27.5 HITACHI HI-REL POWER ELECTRONICS PVT. LTD

27.6 BOSCH

27.7 SUNPOWER CORPORATION

27.8 SAMSUNG

27.9 JOHNSON CONTROLS

27.10 PANASONIC

27.11 FRONIUS INTERNATIONAL GMBH

27.12 LENNOX

27.13 TSI INCORPORATED

27.14 ENERTRONICA SANTERNO S.P.A

28 REPORT SUMMARY

28.1 KEY TAKEAWAYS

28.2 STRATEGIC RECOMMENDATIONS

29 QUANTITATIVE SUMMARY

29.1 MARKET BY GEOGRAPHY

29.1.1 MARKET SIZE & FORECAST

29.2 MARKET BY PRODUCT TYPE

29.2.1 MARKET SIZE & FORECAST

29.3 MARKET BY POWER OUTPUT

29.3.1 MARKET SIZE & FORECAST

29.4 MARKET BY PHASE TYPE

29.4.1 MARKET SIZE & FORECAST

29.5 MARKET BY CONNECTION TYPE

29.5.1 MARKET SIZE & FORECAST

29.6 MARKET BY END USER

29.6.1 MARKET SIZE & FORECAST

29.7 MARKET BY DISTRIBUTION CHANNEL

29.7.1 MARKET SIZE & FORECAST

30 APPENDIX

30.1 ABBREVIATIONS

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SOURCE Arizton Advisory & Intelligence

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