Global PV Inverter Market (2022 to 2030) - Size, Share & Trends Analysis Report - ResearchAndMarkets.com | Business Wire

2022-07-30 03:35:51 By : Ms. Donna Li

DUBLIN--(BUSINESS WIRE )--The "PV Inverter Market Size, Share & Trends Analysis Report by Product (Central, String, Micro), by End-use (Residential, Commercial & Industrial, Utilities), and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.

The global PV inverter market size is expected to reach USD 15.85 billion by 2030, registering a CAGR of 6.2% over the forecast period.

Growing demand for solar energy-generated clean electricity across several end-use markets along with a reduction in renewable power generation costs is likely to strengthen market growth over the forecast period.

Increasing demand for steady power supply in harsh climatic conditions or remote locations has led to the enhanced deployment of off-grid solar PV systems, thereby propelling the PV inverter product demand across such locations. In addition, favorable government policies and initiatives regarding the clean fuel usage agenda are expected to further bolster industry growth.

The market is consolidated and highly competitive in terms of huge demand and vertically integrated market players. Technological advancements due to extensive R&D investments have led to more competitiveness in the industry. Some of the key competitive factors for the market include product quality, brand, maintenance, and distribution network.

Persistent pressure on equipment suppliers due to anti-dumping tariffs is anticipated to hinder the market growth over the forecast period. Such duties have been levied by several countries on account of price deterioration that has hampered the domestic market for solar equipment. The tremendous price declines have forced nations such as the U.S. to levy anti-dumping duties on the inflow of cheaper equipment from countries such as China.

Governments in some of the major countries such as the U.S., Germany, and India have taken steps to extend the deadline for new and under construction solar power projects to be eligible for incentives and tax credits. These factors are expected to make an impact on COVID-19 in the market to be at a medium level owing to supportive steps taken by the government which would result in sales growth in the PV inverters soon.

PV Inverter Market Report Highlights

Chapter 3 PV Inverter Market Variables, Trends, and Scope

3.2 Market Penetration & Growth Prospects

3.8 Impact of COVID-19 on PV Inverter Market

Chapter 4 PV Inverter Market: by Product Estimates & Trend Analysis

Chapter 5 PV Inverter Market: by End-use Estimates & Trend Analysis

Chapter 6 PV Inverter: Regional Estimates & Trend Analysis

Chapter 7 Competitive & Vendor Landscape

7.1 Key Global Players & Recent Developments & Their Impact on the Industry

For more information about this report visit https://www.researchandmarkets.com/r/nb5z8d

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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900