Market Outlook of PV Inverter to Exhibit Substantial Growth Globally During the Forecast of 2016-2021
Report "Global PV Inverter Market" has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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In the first section, the report introduces PV inverters and its functionality. A PV inverter is a device that converts direct current (DC) from the photovoltaic solar panels into alternate current (AC) of the required frequency, which is then supplied to the electric grid or it is used by a local, off-grid and electrical network. Though its functions just as a simple converter, a PV inverter is an essential part of a solar power plant and that’s why it is also known as solar inverters. This device also uses the maximum power point tracking (MPPT) technique to extract the maximum amount of power from a range of solar panels.
Furthermore, the market has been segmented by the products and end users. Geographically, revenue growth in the inverter space has been driven largely by the emerging market in Asia such as China, Japan and India. Demand for PV inverters is continuing to shift from the established European markets of Germany and Italy, which was previously accounted for much of the market. It has also been studied that, as of 2015, over 600 million residents in Africa have poor electricity access. Thus, increasing off-grid electricity demand and rising need for clean and unfailing electricity will contribute towards the industry growth.
Next section of the report analyzes the competitive landscape including the market share among the key industry players. At present, inverter manufacturers are very much trying to position themselves strategically in the global market to take advantage of the large growth opportunities. The major players in the global PV Inverter market are as follows:
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SMA Solar Technology (Germany), ABB (Switzerland), KACO (Germany), Power Electronics (Taiwan), Sungrow (China), Omron (Japan), Power One (USA), Schneider Electric (France), Sineng (China), SolarEdge (Israel), TBEA (China), Fronius (Austria), TBEA (China), Enphase (USA), Huawei (China), Tabuchi (Japan), TMEIC (Japan), Clenergy (China) among others. Among these, Huawei took the top spot in terms of shipments according to 2015 figures. ABB, TMEIC, Sungrow and SMA are rounded out as the top five.
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