Global Solar PV Inverter Growth Opportunities

Global Solar PV Inverter Growth Opportunities

Opportunities in the Residential Sector Enhance Future Growth Potential

RELEASE DATE
08-Nov-2022
REGION
Global
Deliverable Type
Market Research
Research Code: PD84-01-00-00-00
SKU: EG02278-GL-MT_27092
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Description

Solar PV is the most advantageous of renewable power sources. In most parts of the world, light is abundant throughout the year, and solar PV is a low-investment, minimal-maintenance option. Unlike wind farms that require extensive land, resource optimization is possible with solar PV. In addition, developers can execute projects in as quickly as 3 months, a turnaround time which they can leverage during energy crises, such as the one being experienced in Europe.

Advancement of storage technologies has further strengthened the case for PV with variability in production having been a major source of concern in the past. Inverters are critical components of solar PV systems and determine the efficiency and longevity of PV assets. Choice of inverters is a major decision in PV projects, and inverters are allocated about 6% to 11% of the installed costs.

This study covers the advantages and disadvantages of several inverter types and the parameters that developers consider when choosing inverters. This study also analyzes drivers of the global demand for solar PV inverters, trends shaping the market, and challenges that stakeholders face. It identifies global PV hotspots for the consideration of new market entrants or existing participants, growth opportunities and revenue potential that participants can capitalize and analyzes the competitive environment across the value chain. Revenue potential is segmented by geography, end user, and inverter type.

Key Issues Addressed

  • What is the status of the global solar PV inverter market?
  • What are the key drivers and restraints affecting the market? What are the competitive factors in this market?
  • Is the market growing? how long will it continue to grow and at what rate?
  • Are key regulations affecting not just the solar PV market but also the inverter market?
  • Which are the key growth regions for solar PV that market participants can consider for expansion? 
  • Who are the key market participants and what are their strategies? What does the competitive landscape look like? 
  • How are revenues likely to change over the course of the next few years? 
  • What are the avenues available for strategic investment in the global solar PV inverter market? How best can key stakeholders benefit from them?

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Global Solar Photovoltaic (PV) Inverters Market

Growth Opportunities Fuel the Growth Pipeline Engine™

Key Findings

Scope of Analysis

Global Solar Inverters Market Segmentation

Global Solar Inverters Market Segmentation (continued)

Inverter Classifications

Comparison of Inverters

Inverter Purchase Parameters

What Impacts Inverter Reliability?

Types of IGBT Failure

Types of Capacitor Failure

Compliance and Failure Avoidance

Top Value Chain Participants

Key Competitors (By Technology/End Users)

Key Competitors (By Additional Features)

Growth Metrics

Distribution Channels

Growth Drivers

Growth Restraints

Global Solar PV Capacity Additions (2022–2030)

Trends

Digital Inverters

Digital O&M

Growth Strategy Trends

The Push for Local Manufacturing

Hybrid Inverters and String Inverters to Dominate

Forecast Assumptions

Revenue and Unit Shipment Forecast

Revenue Forecast by Inverter Type

Unit Shipment Forecast by Inverter Type

Revenue Forecast by Region

Unit Shipment Forecast by Region

Revenue Forecast by End User

Unit Shipment Forecast by End User

Revenue Forecast Analysis

Revenue Forecast Analysis—North America

Revenue and Unit Shipment Forecast

Revenue Forecast by Country

Revenue Forecast by Inverter Type

Revenue Forecast by End User

Unit Shipment Forecast by Country

Unit Shipment Forecast by Inverter Type

Unit Shipment Forecast by End User

Revenue Forecast Analysis—Europe

Revenue and Unit Shipment Forecast

Revenue Forecast by Country

Revenue Forecast by Inverter Type

Revenue Forecast by End User

Unit Shipment Forecast by Country

Unit Shipment Forecast by Inverter Type

Unit Shipment Forecast by End User

Revenue Forecast Analysis—LATAM

Revenue and Unit Shipment Forecast

Revenue Forecast by Country

Revenue Forecast by Inverter Type

Revenue Forecast by End User

Unit Shipment Forecast by Country

Unit Shipment Forecast by Inverter Type

Unit Shipment Forecast by End User

Revenue Forecast Analysis—APAC

Revenue and Unit Shipment Forecast

Revenue Forecast by Country

Revenue Forecast by Inverter Type

Revenue Forecast by End User

Unit Shipment Forecast by Country

Unit Shipment Forecast by Inverter Type

Unit Shipment Forecast by End User

Revenue Forecast Analysis—The Middle East

Revenue and Unit Shipment Forecast

Revenue Forecast by Country

Revenue Forecast by Inverter Type

Revenue Forecast by End User

Unit Shipment Forecast by Country

Unit Shipment Forecast by Inverter Type

Unit Shipment Forecast by End User

Revenue Forecast Analysis—Africa

Revenue and Unit Shipment Forecast

Revenue Forecast by Country

Revenue Forecast by Inverter Type

Revenue Forecast by End User

Unit Shipment Forecast by Country

Unit Shipment Forecast by Inverter Type

Unit Shipment Forecast by End User

Revenue Forecast Analysis—Russia and CIS

Revenue and Unit Shipment Forecast

Revenue Forecast by Country

Revenue Forecast by Inverter Type

Revenue Forecast by End User

Unit Shipment Forecast by Country

Unit Shipment Forecast by Inverter Type

Unit Shipment Forecast by End User

Pricing Trends and Forecast Analysis

Competitive Environment

Revenue Share—Solar Inverters

Growth Opportunity 1: Vertical Market Expansion

Growth Opportunity 1: Vertical Market Expansion (continued)

Growth Opportunity 2: Geographic Expansion

Growth Opportunity 2: Geographic Expansion (continued)

Growth Opportunity 3: Silicon Carbide/Gallium Nitride Converters

Growth Opportunity 3: Silicon Carbide/Gallium Nitride Converters (continued)

Growth Opportunity 4: Inverter with PID Control

Growth Opportunity 4: Inverter with PID Control (continued)

Growth Opportunity 5: Attractive Financing Options/Off-balance-sheet Asset Arrangement

Growth Opportunity 5: Attractive Financing Options/Off-balance-sheet Asset Arrangement (continued)

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

Legal Disclaimer

Solar PV is the most advantageous of renewable power sources. In most parts of the world, light is abundant throughout the year, and solar PV is a low-investment, minimal-maintenance option. Unlike wind farms that require extensive land, resource optimization is possible with solar PV. In addition, developers can execute projects in as quickly as 3 months, a turnaround time which they can leverage during energy crises, such as the one being experienced in Europe. Advancement of storage technologies has further strengthened the case for PV with variability in production having been a major source of concern in the past. Inverters are critical components of solar PV systems and determine the efficiency and longevity of PV assets. Choice of inverters is a major decision in PV projects, and inverters are allocated about 6% to 11% of the installed costs. This study covers the advantages and disadvantages of several inverter types and the parameters that developers consider when choosing inverters. This study also analyzes drivers of the global demand for solar PV inverters, trends shaping the market, and challenges that stakeholders face. It identifies global PV hotspots for the consideration of new market entrants or existing participants, growth opportunities and revenue potential that participants can capitalize and analyzes the competitive environment across the value chain. Revenue potential is segmented by geography, end user, and inverter type.--BEGIN PROMO--

Key Issues Addressed

  • What is the status of the global solar PV inverter market
  • What are the key drivers and restraints affecting the market What are the competitive factors in this market
  • Is the market growing how long will it continue to grow and at what rate
  • Are key regulations affecting not just the solar PV market but also the inverter market
  • Which are the key growth regions for solar PV that market participants can consider for expansion 
  • Who are the key market participants and what are their strategies What does the competitive landscape look like 
  • How are revenues likely to change over the course of the next few years 
  • What are the avenues available for strategic investment in the global solar PV inverter market How best can key stakeholders benefit from them
More Information
Deliverable Type Market Research
Author Saraswathi Venkatesan
Industries Energy
No Index No
Is Prebook No
Podcast No
WIP Number PD84-01-00-00-00