Global Solar Hybrid Inverter Market size was valued US$ XX Bn in 2019 and the total revenue is expected to grow at 14.23 % through 2020 to 2027, reaching US$ XX Bn.
Global Solar Hybrid Inverter Market size was valued US$ XX Bn in 2019 and the total revenue is expected to grow at 14.23 % through 2020 to 2027, reaching US$ XX Bn. The report has covered Country Market trends with competitive landscape.
The report covers an in-depth analysis of COVID 19 pandemic impact on Global Solar Hybrid Inverter Market by region and on the key players’ revenue affected till July 2020 and expected short term and long-term impact on the market.
Global Solar Hybrid Inverter Market
Global Solar Hybrid Inverter Market Overview:
The global solar inverter market increased by 17.34 percent in year 2019. The United States demand ahead of the decrease in the solar Investment Tax Credit at the end of last year & an increase in demand for the retrofitting of products in active solar plants. Asia-Pacific is still the center of global demand while the market dropped slightly in the year 2018. Chinese key player Huawei led the field with the major three manufacturers unchanged for six years. Chinese rival Sungrow had the second major share of the market again, ahead of German outfit SMA. Spanish establishment Power Electronics claimed 4th position thanks to dominance in its local market, even if it lost United States market share to Sungrow in 2019.
Italian inverter manufacturer Fimer enjoyed the largest growth, climbing to 5th after it took over the solar inverter business of Swiss establishment ABB.
The giant five surrendered only 1 percent of their stranglehold on the total market to claim 56 percent of business. MMR said the 10 major inverter makers accounted for 76.75 percent of total trade.
With the growth in the inverter market in robust economies of Europe, the key players are now moving their attention to Asia Pacific & the United States. The inverter demand in India has increased because of power lacks, & a strong push from the government over national solar mission. Now, the some state governments & bodies impending forth to install solar inverters for more consistent backups. With the unpredictable rise in demand, dealers are not capable to meet supplies. This again, is opportunistic for manufactures making solar inverters. The Indian PV market has been increasing & with the National Solar Mission, & growing number of companies eyeing the market. The momentum from the government on the PV market has pushed companies to increase their production. ABB, one of the major companies, which makes solar inverters, has been able to increase its market manufacturing with this thrust, & increasing along. According to their global product manager, new manufacturing services have established & with this they can support the consumers in India with more fast delivery times. They can also deliver faster support for changing project needs.
ABB soon extended the procurement of its solar inverters by opening a production line in India to support the quickly growing local photovoltaic (PV) market. ABB’s solar inverter variety is supplemented by local solutions & products. These comprised string monitoring junction boxes, SCADA monitoring & a control system package. These influences made the company stand out among other inverter companies.
Technology Advancements:
Many vendors are involved in equipment development to give improved facility to their customers & rise their capability in the market. For example, technically, market vendors have newly invented a new range of power inverters. These inverters use a single switching transistor & produce infinite level voltage, as associated to inverters, which use multiple transistors & deliver only one voltage level. Vendors are also capitalizing huge sums in Research & Development to grow advanced cooling systems for huge capacity inverters, which can also handle frequency variation more efficiently. Such technical advancements in the market are growing the production & norm of inverters, leading to the development of the global Inverter Systems market for Renewable Energy during the forecast period.
Competitive Landscape
The MMR reports cover key developments in the Solar Hybrid Inverter Market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product approvals product launches, and others. Inorganic growth strategies activities witnessed in the Solar Hybrid Inverter Market were merges & acquisitions and collaborations & partnership.
The objective of the report is to present a comprehensive analysis of the Global Solar Hybrid Inverter Market including all the stakeholders of the industry. The past and current status of the End Use with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the End Use with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the End Use to the decision-makers.
The report also helps in understanding Global Solar Hybrid Inverter Market dynamics, structure by analyzing the market segments and projects the Global Solar Hybrid Inverter Market size. Clear representation of competitive analysis of key players by End Use, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Solar Hybrid Inverter Market make the report investor’s guide.
Scope of the Global Solar Hybrid Inverter Market
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Global Solar Hybrid Inverter Market 1
Global Solar Hybrid Inverter Market, By Region
• North America:
o US
o Canada
o Mexico
• South America
o Brazil
o Argentina
o Colombia
o Rest of South America
• Europe
o UK
o Germany
o France
o Spain
o Italy
o Sweden
o CIS countries
o Rest of Europe
• APAC
o China
o India
o South Korea
o Japan
o Australia
o Rest of APAC
o ASEAN
Indonesia
Malaysia
Singapore
Philippines
Thailand
Vietnam
• Middle East & Africa
o GCC Countries
o South Africa
o Nigeria
o Egypt
o Rest of MEA
• Latin America
o Mexico
o Brazil
o Rest of Latin America
Key players operating in the Global Solar Hybrid Inverter Market
• Flin Energy (India)
• Havells (India)
• Schneider Electric (France)
• Microtek Inverters (India)
• Delta Energy Systems (Germany)
• Pure Volt (India)
• Su- kam Power systems (India)
• Redback Technologies (Australia)
• Luminous (India)
• EAST Group (China)
• KACO new energy (Germany)
• Tabuchi Electric (U.S)
• SolarEdge Technologies (Israel)
• Voltronic Power Technology (Taiwan)
• SolaX Power (China)
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