Global Renewable Energy Inverters Market, Forecast to 2022

Global Renewable Energy Inverters Market, Forecast to 2022

Growing Solar PV Installations in Asia to Drive Inverter Market Growth

RELEASE DATE
27-Mar-2018
REGION
Global
Research Code: MD49-01-00-00-00
SKU: EG01863-GL-MR_21595

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Description

The rapid expansion of renewables based power generation is expected to play a significant role in the growth of the inverter market in the coming years. The market is expected to grow steadily over the medium term and decline after 2020. The growth will be driven mainly by solar photovoltaic (PV) installations mainly in Asia and North America which are expected to substitute fossil based power with renewable power in the coming years. Further, falling prices of equipment are expected to drive rapid installation of renewable energy in the developed regions of the world.

Growth in the global renewable energy (RE) inverter market is driven by the installation of systems, led by solar PV (constitutes more than 95% of the market), and followed by small wind turbine (about 2%) and fuel cell (1%) units. Total inverter installations are forecast to increase from 102 GW in 2017 to 119 GW in 2022. Both string and central inverters dominate the inverter market for solar PV installations across the globe. Central inverters dominate the European and Asian markets, while the North American market has an equal presence of string, central and microinverters. The market for small wind inverters is dominated by China and Europe, while fuel cell inverter market is led mainly by Japan and the United States.

Market trends have been analyzed for the study period covering 2014 through 2022, with the base year being 2017. The study covers all of North America, Latin America, Europe, Asia-Pacific, Africa and Rest of the World (ROW). The study assesses inverter companies across the globe and discusses the various market shares held by companies in this market. Fierce competition is expected, especially in Asia, from Chinese and Japanese players who compete with cheaper and quality products. Some of the companies that have been considered in this study are Huawei, TMEIC, Sungrow, ABB, SMA, Schneider Electric, and Fronius.

Key Issues Addressed

  • Is the market growing, how long will it continue to grow, and at what rate?
  • Which are key growth regions fir renewable energy inverters and how are they going to transform the inverter market in the future?
  • How would the reduction in renewable energy subsidies affect the renewable energy inverter market?
  • How are key regulations affecting the renewable energy market in various regions across the globe? How are they expected to impact the inverter market?
  • How will the pricing of the inverters change over time?
  • What is the nature of competition in this market? How is it expected to change over the course of the next five years?

RESEARCH: INFOGRAPHIC

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Table of Contents

Key Findings

Market Engineering Measurements

Market Engineering Measurements (continued)

CEO’s Perspective

Market Definitions

Market Definitions (continued)

Market Definitions—Solar Inverters

Market Definitions—Solar Inverters (continued)

Market Definitions—Small Wind Inverters

Market Definitions—Fuel Cell Inverters

Key Questions this Study will Answer

Market Segmentation

Market Distribution Channels—Central Inverter

Market Distribution Channels—String Inverter

Market Distribution Channels—Microinverters

Market Distribution Channels—Small Wind Turbine Inverters

Market Distribution Channels—Fuel Cell Inverters

Market Distribution Channels—Explanation

Market Distribution Channels—Explanation (continued)

Market Drivers

Drivers Explained

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Market Restraints

Restraints Explained

Restraints Explained (continued)

Restraints Explained (continued)

Market Engineering Measurements

Market Engineering Measurements (continued)

Forecast Assumptions

Total Inverter Market Revenue Forecast

Revenue Forecast Discussion

Regional Hot Spots

Regional Hot Spots (continued)

Percent Revenue Forecast by Renewable Inverter Type

Revenue Forecast by Renewable Inverter Type

Revenue Forecast Discussion by Renewable Inverter Type

Market Share—Total Renewable Energy Inverters

Competitive Factors and Assessment

Growth Opportunity 1—Geographic Expansion

Growth Opportunity 2—Value-add Services

Strategic Imperatives for Success and Growth

Summary

Solar Inverter Segment Key Findings

Market Engineering Measurements

Solar Inverter Revenue Forecast

Revenue Forecast Discussion

Percent Revenue Forecast by Grid Connectivity

Revenue Forecast by Grid Connectivity

Revenue Forecast Discussion by Grid Connectivity

Percent Revenue Forecast by Power Range

Revenue Forecast by Power Range

Revenue Forecast Discussion by Power Range

North America—Key Findings

North America—Revenue Forecast

North America—Revenue Forecast Discussion

Europe—Key Findings

Europe—Revenue Forecast

Europe—Revenue Forecast Discussion

APAC—Key Findings

APAC—Revenue Forecast

APAC—Revenue Forecast Discussion

Latin America—Key Findings

Latin America—Revenue Forecast

Latin America—Revenue Forecast Discussion

Rest of the World (ROW)—Key Findings

ROW—Revenue Forecast

ROW—Revenue Forecast Discussion

Market Share—Solar Inverter

Competitive Environment

Summary

Small Wind Inverter Segment—Key Findings

Market Engineering Measurements

Small Wind Inverter Segment—Revenue Forecast

Revenue Forecast Discussion

Percent Revenue Forecast by Grid Connectivity

Revenue Forecast by Grid Connectivity

Revenue Forecast Discussion by Grid Connectivity

Percent Revenue Forecast by Power Range

Revenue Forecast by Power Range

Revenue Forecast Discussion by Power Range

China—Key Findings

China—Revenue Forecast

China—Revenue Forecast Discussion

US—Key Findings

US—Revenue Forecast

US—Revenue Forecast Discussion

Europe—Key Findings

Europe—Revenue Forecast

Europe—Revenue Forecast Discussion

Rest of the World—Key Findings

ROW—Revenue Forecast

ROW—Revenue Forecast Discussion

Market Share—Small Wind Inverter Segment

Competitive Environment

Summary

Fuel Cell Inverter Segment—Key Findings

Market Engineering Measurements

Fuel Cell Inverter Segment—Revenue Forecast

Revenue Forecast Discussion

Percent Revenue Forecast by Grid Connectivity

Revenue Forecast by Grid Connectivity

Revenue Forecast Discussion by Grid Connectivity

Percent Revenue Forecast by Power Range

Revenue Forecast by Power Range

Revenue Forecast Discussion by Power Range

APAC—Key Findings

APAC—Revenue Forecast

APAC—Revenue Forecast Discussion

North America—Key Findings

North America—Revenue Forecast

North America—Revenue Forecast Discussion

Europe—Key Findings

Europe—Revenue Forecast

Europe—Revenue Forecast Discussion

Rest of the World—Key Findings

ROW—Revenue Forecast

ROW—Revenue Forecast Discussion

Market Share—Fuel Cell Inverter

Competitive Environment

The Last Word—3 Big Predictions

Legal Disclaimer

Market Engineering Methodology

Additional Sources of Information on Study Topic

List of Companies in “Others”

Learn More—Next Steps

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

Related Research
The rapid expansion of renewables based power generation is expected to play a significant role in the growth of the inverter market in the coming years. The market is expected to grow steadily over the medium term and decline after 2020. The growth will be driven mainly by solar photovoltaic (PV) installations mainly in Asia and North America which are expected to substitute fossil based power with renewable power in the coming years. Further, falling prices of equipment are expected to drive rapid installation of renewable energy in the developed regions of the world. Growth in the global renewable energy (RE) inverter market is driven by the installation of systems, led by solar PV (constitutes more than 95% of the market), and followed by small wind turbine (about 2%) and fuel cell (1%) units. Total inverter installations are forecast to increase from 102 GW in 2017 to 119 GW in 2022. Both string and central inverters dominate the inverter market for solar PV installations across the globe. Central inverters dominate the European and Asian markets, while the North American market has an equal presence of string, central and microinverters. The market for small wind inverters is dominated by China and Europe, while fuel cell inverter market is led mainly by Japan and the United States. Market trends have been analyzed for the study period covering 2014 through 2022, with the base year being 2017. The study covers all of North America, Latin America, Europe, Asia-Pacific, Africa and Rest of the World (ROW). The study assesses inverter companies across the globe and discusses the various market shares held by companies in this market. Fierce competition is expected, especially in Asia, from Chinese and Japanese players who compete with cheaper and quality products. Some of the companies that have been considered in this study are Huawei, TMEIC, Sungrow, ABB, SMA, Schneider Electric, and Fronius.--BEGIN PROMO--

Key Issues Addressed

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More Information
No Index No
Podcast No
Author Manoj Shankar
Industries Energy
WIP Number MD49-01-00-00-00
Keyword 1 Renewable Energy Inverters
Is Prebook No
GPS Codes 9301-A4,9597,9851,9AFE-A4,9AFF-A4,9B00-A4,GETE