Solar Inverter Market Research Report - Global Forecast till 2028

Solar Inverter Market Research Report: Information By Type (Central Inverter, Micro Inverter and String Inverter), By System Type (On-Grid and Off-Grid), By Application (Residential, Commercial and Utilities) - Forecast till 2028

ID: MRFR/E&P/2739-CR | October, 2020 | Region : Global

Solar Inverter Market Overview


Solar Inverter Market is projected to be worth USD 14.97 Billion by 2028, registering a CAGR of 5.78% during the forecast period (2021 - 2028)., The market was valued at USD 9.7 Billion in 2020.


The demand for renewable energy is growing at a very high pace owing to global environmental awareness which is driving the demand for clean and green energy on an unprecedented scale now. Keeping with this trend, solar Inverters now enjoy tremendous popularity worldwide due to their capacity to quickly convert DC power into AC while staying connected to the on-grid system – in an environment friendly manner. The ever-increasing number of solar power plants connected with the grid through an on-grid solar inverter pushes growth in the solar inverter market size globally.


Escalating off-grid solar panel installations for commercial, industrial, and residential purposes drive the solar inverter market growth ad creates substantial demand for reliable and safe power source converters..


Report Overview


This report focuses on Solar Inverter volume and value at the global level, regional level, and company level. From a global perspective, this report represents the overall Solar Inverter market size by analyzing historical data and future prospects. Regionally, this report focuses on several key regions: North America, Europe, Japan, China, Southeast Asia, India, etc.


For a long time, the demand for solar inverters primarily came from the commercial and industrial sectors but due to rising environmental concerns and the growing global awareness regarding the importance of renewable energy sources, residential sector will also be seen the demand for solar inverters during the forecast period. Add to it factors like depletion of and inflation in the fossil fuel prices and the declining cost of solar inverters globally and we can see solar inverter market trends heading upwards during the forecast period and much beyond.


Some of the other factors that are stimulating the market growth include technological advancements and the rising governmental support in several countries. As a result, the solar inverter is garnering huge traction globally.


Regional Analysis


The Asia Pacific reason is expected to lead the market with a heavy demand for solar inverters during the forecast period. Increasing investments in the construction sector, burgeoning demand for solar power energy sources, growing investments in solar power projects and an ever-escalating demand for solar energy as a viable substitute to conventional energy sources will be seen driving growth in this region. An impetus to reduce carbon emission by meeting the region’s electricity needs, and various favourable government initiatives like energy-saving certificates and incentives by the governments in Thailand, Malaysia, China, and India are adding to the global solar inverter market growth in the region.


In contrast, the European solar inverter is predicted to have slow growth over the forecast period owing to an increase in the anti-dumping tariffs on Chinese manufactured components, a downward trend on minimum import prices, and depreciation of the Euro.


Competitive Landscape


Increasing strategic partnership deals and approaches, such as collaboration, mergers & acquisitions, expansion, and product launches, are expected to be seen during the next few years. Major solar inverter market players are making strategic investments in driving research and development activities and fostering their expansion plans.
As recently as on Feb. 04, 2021, Solarvest Holdings BHD announced that it is entering into memorandums of understanding (MOUs) with Huawei Technologies SDN BHD and Sungrow Power Supply Co Ltd. to obtain inverters.


List of Key Companies Profiled in the Solar Inverter Market Research Report are:



Solar Inverter Market Dynamics


Drivers


Major factors driving growth in the global solar inverter market share comprise of continuous infrastructural development in the developing and developed economies and the rising demand for uninterrupted electricity supply. For instance, the UAE government is currently focused on Smart Dubai project which aims to transform the city of Dubai into a leading global smart city. Such expansion in the construction activities will drastically boost the solar inverter market value in the region.
Additionally, the increasing awareness regarding greenhouse gas effect and the rising cognizance of environmental issues will further bolster the global solar inverter market outlook during the forecast period. Use of the solar inverter reduces the high cost of electricity bills and provides higher efficiency in the long run. Various investors in the energy generation ecosystem are also exploring viable opportunities to reduce mankind’s carbon footprint by highlighting the use of renewable energy sources for power generation. This growing focus on renewable energy sources will have a positive impact on the solar inverter market revenue globally.


Opportunities


Solar inverters are an efficient solution for reliable, safe and green power in off-grid solar panels for commercial & industrial sector for a very long time. Now however, with the installation costs getting lower with technological advancements, the residential use of these inverters is also rising. This creates a plethora of opportunities in the residential applications and impacts the global solar inverter industry positively. 


 Restraints


The in-depth solar inverter market analysis brings to fore factors such as high initial installation cost, the regular need of sunlight, and the requirement of a large area for installation as the major factors which will hamper the global solar inverter market in the coming years.


 Cumulative Growth Analysis


The commercial & industrial end-use segment is especially expected to witness a significant CAGR during the forecast period largely owing to the growing acquisition of large off-site projects that allow businesses to offset a greater portion of their energy use. This has become increasingly necessary for tech companies such as Facebook, Microsoft, Apple, and Amazon Web Services and is therefore contributing significantly to the global solar inverter market share.


COVID-19 Analysis


With the supply chains across the world hindered and/or suspended during the COVID-19 outbreak and the consequent global lockdowns, the solar inverter market growth was also hit. Issues such as labour shortages, raw material unavailability, stagnation of the global trade and subsequent delays in installation are estimated to drive the prices of the solar inverters upwards which will prove to be a significant obstacle that the industry will have to adapt to. Increase in prices will cause project delays which, in turn, would again cause a spike in prices. The report explains the impact at length and estimates the recovery time for the global solar inverter market growth in the near future.


Solar Inverter Market Segment Overview


The report segments this market based on factors such as technology and voltage etc. to better understand the specific types that will be driving growth in the industry during the forecast period.


Solar Inverter By Technology



  • Central

  • String

  • Micro

  • Other Inverters


At present, central inverters dominate the market, holding the largest solar pv inverter market share.


Solar Inverter By Voltage



  • 0 to < 1000 V

  • 1000 - 1499 V

  • More Then > 1500 V


Currently, the < 1000 V solar PV inverter accounts for the majority of the total market share.


Solar Inverter By Application



  • Utility

  • Residential

  • Small Commercial

  • Large Commercial

  • Industrial Scale.


Presently, the utility scale segment exhibits dominance in the market.


Solar Inverter By Geographical Region



  • Asia Pacific

  • Europe

  • North America

  • Latin America

  • Middle East and Africa


Recent Developments



  • In December 2020, leading solar power equipment manufacturer, USHA SHRIRAM launched a unique range of Solar Off-Grid Combo Systems that are highly efficient and offer seamless power for critical loads, particularly in areas where no power grid exists. This will provide a significant rise in India’s efforts to popularize the solar energy use along with making the country self-reliant in the manufacturing of solar equipment. 

  • In December 2020, global solar inverter, microinverter, and hybrid inverter provider, Deye Inverter Technology Co., LTD launched its award-winning hybrid inverter in the Europe market. The 8/10/12KW is a three-phase hybrid inverter. Its key benefits are high compatibility with diesel generator, AC couple, smart load, and grid peak shaving.

  • In February 2021, Solarvest Holdings BHD stated that it had signed memorandums of understanding (MOUs) with Huawei Technologies SDN BHD and Sungrow Power Supply Co Ltd. to procure inverters.

  • In December 2020, USHA SHRIRAM, a leading solar power equipment manufacturer, launched a unique range of Solar Off-Grid Combo Systems that are highly efficient and provide continuous power for critical loads, particularly in areas where there is no power grid. This will significantly boost India's efforts to popularize solar energy use while also making the country self-sufficient in solar equipment manufacturing.

  • In December 2020, Deye Inverter Technology Co., LTD, a global manufacturer of solar inverters, microinverters, and hybrid inverters, will introduce its award-winning hybrid inverter in the European market. The 8/10/12KW hybrid inverter is a three-phase inverter. Its main advantages are its excellent compatibility with diesel generators, AC couples, smart loads, and grid peak shaving.

1 EXECUTIVE SUMMARY

1.1 MARKET ATTRACTIVENESS ANALYSIS 15

1.1.1 GLOBAL SOLAR INVERTER MARKET, BY TYPE 16

1.1.2 GLOBAL SOLAR INVERTER MARKET, BY SYSTEM TYPE 17

1.1.3 GLOBAL SOLAR INVERTER MARKET, BY END USE 18

1.1.4 GLOBAL SOLAR INVERTER MARKET, BY REGION 19

2 MARKET INTRODUCTION

2.1 DEFINITIONS 20

2.2 SCOPE OF THE STUDY 20

2.3 RESEARCH OBJECTIVE 20

2.4 MARKET STRUCTURE 20

2.5 KEY BUYING CRITERIA 21

3 RESEARCH METHODOLOGY

3.1 RESEARCH PROCESS 22

3.2 PRIMARY RESEARCH 23

3.3 SECONDARY RESEARCH 24

3.4 MARKET SIZE ESTIMATION 24

3.5 FORECAST MODEL 26

3.6 LIST OF ASSUMPTIONS 27

4 MARKET INSIGHTS

5 MARKET DYNAMICS

5.1 INTRODUCTION 30

5.2 DRIVERS 31

5.2.1 GROWING SOLAR POWER SYSTEM INSTALLATIONS 31

5.2.2 MEASURES TO PROMOTE SOLAR POWER SYSTEMS 31

5.3 RESTRAINTS 32

5.3.1 HIGH OPERATION AND MAINTENANCE COSTS 32

5.4 OPPORTUNITIES 32

5.4.1 ELECTRIFICATION OF UNELECTRIFIED AREAS IN DEVELOPING COUNTRIES 32

6 MARKET FACTOR ANALYSIS

6.1 SUPPLY CHAIN ANALYSIS 33

6.1.1 DESIGN & DEVELOPMENT 33

6.1.2 RAW MATERIAL & COMPONENT SUPPLY 34

6.1.3 MANUFACTURE & ASSEMBLY 34

6.1.4 SALES & DISTRIBUTION 34

6.1.5 END USE 34

6.2 PORTER’S FIVE FORCES MODEL 35

6.2.1 THREAT OF NEW ENTRANTS 35

6.2.2 BARGAINING POWER OF SUPPLIERS 36

6.2.3 BARGAINING POWER OF BUYERS 36

6.2.4 THREAT OF SUBSTITUTES 36

6.2.5 RIVALRY 36

7 GLOBAL SOLAR INVERTER MARKET, BY TYPE

7.1 OVERVIEW 37

7.2 CENTRAL INVERTER 38

7.3 MICRO INVERTER 39

7.4 STRING INVERTER 40

8 GLOBAL SOLAR INVERTER MARKET, BY SYSTEM TYPE

8.1 OVERVIEW 42

8.2 ON- GRID 43

8.3 OFF- GRID 44

9 GLOBAL SOLAR INVERTER MARKET, BY END-USE

9.1 OVERVIEW 45

9.2 RESIDENTIAL 46

9.3 COMMERCIAL 47

9.4 UTILITIES 47

10 GLOBAL SOLAR INVERTER MARKET, BY REGION

10.1 OVERVIEW 48

10.2 NORTH AMERICA 50

10.2.1 US 51

10.2.2 CANADA 53

10.3 EUROPE 54

10.3.1 UK 56

10.3.2 GERMANY 57

10.3.3 SPAIN 58

10.3.4 ITALY 60

10.3.5 REST OF EUROPE 61

10.4 ASIA-PACIFIC 63

10.4.1 CHINA 64

10.4.2 INDIA 65

10.4.3 JAPAN 66

10.4.4 AUSTRALIA 68

10.4.5 REST OF ASIA-PACIFIC 69

10.5 REST OF THE WORLD 70

10.5.1 MIDDLE EAST 72

10.5.2 AFRICA 73

10.5.3 LATIN AMERICA 74

11 COMPETITIVE LANDSCAPE

11.1 COMPETITIVE OVERVIEW 76

11.2 COMPETITIVE BENCHMARKING 77

11.3 MARKET SHARE ANALYSIS 78

12 COMPANY PROFILES

12.1 ABB 79

12.1.1 COMPANY OVERVIEW 79

12.1.2 FINANCIAL OVERVIEW 80

12.1.3 PRODUCTS OFFERED 81

12.1.4 KEY DEVELOPMENTS 81

12.1.5 SWOT ANALYSIS 82

12.1.6 KEY STRATEGIES 82

12.2 SMA SOLAR TECHNOLOGY AG 83

12.2.1 COMPANY OVERVIEW 83

12.2.2 FINANCIAL OVERVIEW 84

12.2.3 PRODUCTS OFFERED 85

12.2.4 KEY DEVELOPMENTS 85

12.2.5 SWOT ANALYSIS 86

12.2.6 KEY STRATEGIES 86

12.3 CANADIAN SOLAR 87

12.3.1 COMPANY OVERVIEW 87

12.3.2 FINANCIAL OVERVIEW 88

12.3.3 PRODUCTS OFFERED 88

12.3.4 KEY DEVELOPMENTS 89

12.3.5 SWOT ANALYSIS 89

12.3.6 KEY STRATEGIES 89

12.4 SOLAREDGE TECHNOLOGIES INC. 90

12.4.1 COMPANY OVERVIEW 90

12.4.2 FINANCIAL OVERVIEW 91

12.4.3 PRODUCTS OFFERED 91

12.4.4 KEY DEVELOPMENTS 92

12.4.5 SWOT ANALYSIS 92

12.4.6 KEY STRATEGIES 93

12.5 SUNPOWER CORPORATION 94

12.5.1 COMPANY OVERVIEW 94

12.5.2 FINANCIAL OVERVIEW 95

12.5.3 PRODUCTS OFFERED 95

12.5.4 KEY DEVELOPMENTS 96

12.5.5 SWOT ANALYSIS 96

12.5.6 KEY STRATEGIES 96

12.6 DELTA ELECTRONICS, INC. 97

12.6.1 COMPANY OVERVIEW 97

12.6.2 FINANCIAL OVERVIEW 98

12.6.3 PRODUCTS OFFERED 99

12.6.4 KEY DEVELOPMENTS 99

12.7 SOLECTRIA RENEWABLES, LLC 100

12.7.1 COMPANY OVERVIEW 100

12.7.2 FINANCIAL OVERVIEW 100

12.7.3 PRODUCTS OFFERED 100

12.7.4 KEY DEVELOPMENTS 100

12.8 SINENG ELECTRIC CO., LTD. 101

12.8.1 COMPANY OVERVIEW 101

12.8.2 FINANCIAL OVERVIEW 101

12.8.3 PRODUCTS OFFERED 101

12.8.4 KEY DEVELOPMENTS 101

12.9 HITACHI HI-REL POWER ELECTRONICS PRIVATE LIMITED 102

12.9.1 COMPANY OVERVIEW 102

12.9.2 FINANCIAL OVERVIEW 102

12.9.3 PRODUCTS OFFERED 102

12.9.4 KEY DEVELOPMENTS 102

12.10 POWER ELECTRONICS S.L. 103

12.10.1 COMPANY OVERVIEW 103

12.10.2 FINANCIAL OVERVIEW 103

12.10.3 PRODUCTS OFFERED 103

12.10.4 KEY DEVELOPMENTS 103

13 LIST OF TABLES

TABLE 1 PRIMARY INTERVIEWS 23

TABLE 2 LIST OF ASSUMPTIONS 27

TABLE 3 GLOBAL SOLAR INVERTER: MARKET ESTIMATES & FORECAST, BY TYPE, 2020–2027 (USD MILLION) 38

TABLE 4 CENTRAL INVERTER: GLOBAL SOLAR INVERTER: MARKET ESTIMATES & FORECAST, BY TYPE, 2020–2027 (USD MILLION) 39

TABLE 5 CENTRAL INVERTER: GLOBAL SOLAR INVERTER: MARKET ESTIMATES & FORECAST, BY INTEGRATION, 2020–2027 (USD MILLION) 39

TABLE 6 MICRO INVERTER: GLOBAL SOLAR INVERTER: MARKET ESTIMATES & FORECAST, BY PHASE, 2020–2027 (USD MILLION) 40

TABLE 7 STRING INVERTER: GLOBAL SOLAR INVERTER: MARKET ESTIMATES & FORECAST, BY PHASE, 2020–2027 (USD MILLION) 40

TABLE 8 STRING INVERTER: GLOBAL SOLAR INVERTER: MARKET ESTIMATES & FORECAST, BY INTEGRATION, 2020–2027 (USD MILLION) 41

TABLE 9 GLOBAL SOLAR INVERTER: MARKET ESTIMATES & FORECAST, BY SYSTEM TYPE, 2020–2027 (USD MILLION) 43

TABLE 10 GLOBAL SOLAR INVERTER: MARKET ESTIMATES & FORECAST, BY END-USE, 2020–2027 (USD MILLION) 46

TABLE 11 GLOBAL SOLAR INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION) 49

TABLE 12 NORTH AMERICA: SOLAR INVERTER MARKET, BY COUNTRY, 2020–2027 (USD MILLION) 50

TABLE 13 NORTH AMERICA: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY TYPE, 2020–2027 (USD MILLION) 50

TABLE 14 NORTH AMERICA: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY SYSTEM TYPE, 2020–2027 (USD MILLION) 51

TABLE 15 NORTH AMERICA: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY END-USE, 2020–2027 (USD MILLION) 51

TABLE 16 US: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY TYPE, 2020–2027 (USD MILLION) 52

TABLE 17 US: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY SYSTEM TYPE, 2020–2027 (USD MILLION) 52

TABLE 18 US: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY END-USE, 2020–2027 (USD MILLION) 52

TABLE 19 CANADA: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY TYPE, 2020–2027 (USD MILLION) 53

TABLE 20 CANADA: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY SYSTEM TYPE, 2020–2027 (USD MILLION) 53

TABLE 21 CANADA: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY END-USE, 2020–2027 (USD MILLION) 54

TABLE 22 EUROPE: SOLAR INVERTER MARKET, BY COUNTRY, 2020–2027 (USD MILLION) 54

TABLE 23 EUROPE: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY TYPE, 2020–2027 (USD MILLION) 55

TABLE 24 EUROPE: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY SYSTEM TYPE, 2020–2027 (USD MILLION) 55

TABLE 25 EUROPE: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY END-USE, 2020–2027 (USD MILLION) 55

TABLE 26 UK: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY TYPE, 2020–2027 (USD MILLION) 56

TABLE 27 UK: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY SYSTEM TYPE, 2020–2027 (USD MILLION) 56

TABLE 28 UK: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY END-USE, 2020–2027 (USD MILLION) 57

TABLE 29 GERMANY: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY TYPE, 2020–2027 (USD MILLION) 57

TABLE 30 GERMANY: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY SYSTEM TYPE, 2020–2027 (USD MILLION) 58

TABLE 31 GERMANY: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY END-USE, 2020–2027 (USD MILLION) 58

TABLE 32 SPAIN: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY TYPE, 2020–2027 (USD MILLION) 59

TABLE 33 SPAIN: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY SYSTEM TYPE, 2020–2027 (USD MILLION) 59

TABLE 34 SPAIN: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY END-USE, 2020–2027 (USD MILLION) 59

TABLE 35 ITALY: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY TYPE, 2020–2027 (USD MILLION) 60

TABLE 36 ITALY: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY SYSTEM TYPE, 2020–2027 (USD MILLION) 60

TABLE 37 ITALY: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY END-USE, 2020–2027 (USD MILLION) 61

TABLE 38 REST OF EUROPE: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY TYPE, 2020–2027 (USD MILLION) 61

TABLE 39 REST OF EUROPE: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY SYSTEM TYPE, 2020–2027 (USD MILLION) 62

TABLE 40 REST OF EUROPE: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY END-USE, 2020–2027 (USD MILLION) 62

TABLE 41 ASIA-PACIFIC: SOLAR INVERTER MARKET, BY COUNTRY, 2020–2027 (USD MILLION) 63

TABLE 42 ASIA-PACIFIC: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY TYPE, 2020–2027 (USD MILLION) 63

TABLE 43 ASIA-PACIFIC: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY SYSTEM TYPE, 2020–2027 (USD MILLION) 64

TABLE 44 ASIA-PACIFIC: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY END-USE, 2020–2027 (USD MILLION) 64

TABLE 45 CHINA: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY TYPE, 2020–2027 (USD MILLION) 64

TABLE 46 CHINA: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY SYSTEM TYPE, 2020–2027 (USD MILLION) 65

TABLE 47 CHINA: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY END-USE, 2020–2027 (USD MILLION) 65

TABLE 48 INDIA: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY TYPE, 2020–2027 (USD MILLION) 65

TABLE 49 INDIA: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY SYSTEM TYPE, 2020–2027 (USD MILLION) 66

TABLE 50 INDIA: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY END-USE, 2020–2027 (USD MILLION) 66

TABLE 51 JAPAN: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY TYPE, 2020–2027 (USD MILLION) 67

TABLE 52 JAPAN: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY SYSTEM TYPE, 2020–2027 (USD MILLION) 67

TABLE 53 JAPAN: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY END-USE, 2020–2027 (USD MILLION) 67

TABLE 54 AUSTRALIA: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY TYPE, 2020–2027 (USD MILLION) 68

TABLE 55 AUSTRALIA: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY SYSTEM TYPE, 2020–2027 (USD MILLION) 68

TABLE 56 AUSTRALIA: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY END-USE, 2020–2027 (USD MILLION) 69

TABLE 57 REST OF ASIA-PACIFIC: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY TYPE, 2020–2027 (USD MILLION) 69

TABLE 58 REST OF ASIA-PACIFIC: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY SYSTEM TYPE, 2020–2027 (USD MILLION) 70

TABLE 59 REST OF ASIA-PACIFIC: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY END-USE, 2020–2027 (USD MILLION) 70

TABLE 60 REST OF THE WORLD: SOLAR INVERTER MARKET, BY COUNTRY, 2020–2027 (USD MILLION) 70

TABLE 61 REST OF THE WORLD: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY TYPE, 2020–2027 (USD MILLION) 71

TABLE 62 REST OF THE WORLD: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY SYSTEM TYPE, 2020–2027 (USD MILLION) 71

TABLE 63 REST OF THE WORLD: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY END USE, 2020–2027 (USD MILLION) 71

TABLE 64 MIDDLE EAST: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY TYPE, 2020–2027 (USD MILLION) 72

TABLE 65 MIDDLE EAST: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY SYSTEM TYPE, 2020–2027 (USD MILLION) 72

TABLE 66 MIDDLE EAST: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY END USE, 2020–2027 (USD MILLION) 73

TABLE 67 AFRICA: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY TYPE, 2020–2027 (USD MILLION) 73

TABLE 68 AFRICA: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY SYSTEM TYPE, 2020–2027 (USD MILLION) 74

TABLE 69 AFRICA: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY END USE, 2020–2027 (USD MILLION) 74

TABLE 70 LATIN AMERICA: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY TYPE, 2020–2027 (USD MILLION) 75

TABLE 71 LATIN AMERICA: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY SYSTEM TYPE, 2020–2027 (USD MILLION) 75

TABLE 72 LATIN AMERICA: SOLAR INVERTER MARKET ESTIMATES & FORECAST, BY END USE, 2020–2027 (USD MILLION) 75

TABLE 73 ABB: PRODUCTS OFFERED 81

TABLE 74 ABB: KEY DEVELOPMENTS 81

TABLE 75 SMA SOLAR TECHNOLOGY AG: PRODUCTS OFFERED 85

TABLE 76 SMA SOLAR TECHNOLOGY AG: KEY DEVELOPMENTS 85

TABLE 77 CANADIAN SOLAR: PRODUCTS OFFERED 88

TABLE 78 SOLAREDGE TECHNOLOGIES INC: PRODUCTS OFFERED 91

TABLE 79 SOLAREDGE TECHNOLOGIES INC: KEY DEVELOPMENTS 92

TABLE 80 SUNPOWER CORPORATION: PRODUCTS OFFERED 95

TABLE 81 DELTA ELECTRONICS, INC.: PRODUCTS OFFERED 99

TABLE 82 DELTA ELECTRONICS, INC.: KEY DEVELOPMENTS 99

TABLE 83 SOLECTRIA RENEWABLES, LLC: PRODUCTS OFFERED 100

TABLE 84 SOLECTRIA RENEWABLES, LLC: KEY DEVELOPMENTS 100

TABLE 85 SINENG ELECTRIC CO., LTD.: PRODUCTS OFFERED 101

TABLE 86 SINENG ELECTRIC CO., LTD.: KEY DEVELOPMENTS 101

TABLE 87 HITACHI HI-REL POWER ELECTRONICS PVT. LTD: PRODUCTS OFFERED 102

TABLE 88 POWER ELECTRONICS S.L.: PRODUCTS OFFERED 103

TABLE 89 POWER ELECTRONICS S.L.: KEY DEVELOPMENTS 103

14 LIST OF FIGURES

FIGURE 1 MARKET SYNOPSIS 14

FIGURE 2 MARKET ATTRACTIVENESS ANALYSIS: GLOBAL SOLAR INVERTER MARKET 15

FIGURE 3 GLOBAL SOLAR INVERTER MARKET ANALYSIS, BY TYPE 16

FIGURE 4 GLOBAL SOLAR INVERTER MARKET ANALYSIS, BY SYSTEM TYPE 17

FIGURE 5 GLOBAL SOLAR INVERTER MARKET ANALYSIS, BY END USE 18

FIGURE 6 GLOBAL SOLAR INVERTER MARKET ANALYSIS, BY REGION 19

FIGURE 7 GLOBAL SOLAR INVERTER MARKET: STRUCTURE 20

FIGURE 8 KEY BUYING CRITERIA FOR GLOBAL SOLAR INVERTER MARKET 21

FIGURE 9 RESEARCH PROCESS 22

FIGURE 10 TOP-DOWN & BOTTOM-UP APPROACHES 25

FIGURE 11 NORTH AMERICA: SOLAR INVERTER MARKET SIZE & MARKET SHARE, BY COUNTRY (2020 VS 2027) 28

FIGURE 12 EUROPE: SOLAR INVERTER MARKET SIZE & MARKET SHARE, BY COUNTRY (2020 VS 2027) 28

FIGURE 13 ASIA-PACIFIC: SOLAR INVERTER MARKET SIZE & MARKET SHARE, BY COUNTRY (2020 VS 2027) 29

FIGURE 14 REST OF THE WORLD: SOLAR INVERTER MARKET SIZE & MARKET SHARE, BY COUNTRY (2020 VS 2027) 29

FIGURE 15 DRO ANALYSIS: GLOBAL SOLAR INVERTER MARKET 30

FIGURE 16 SUPPLY CHAIN ANALYSIS: GLOBAL SOLAR INVERTER MARKET 33

FIGURE 17 PORTER'S FIVE FORCES ANALYSIS: GLOBAL SOLAR INVERTER MARKET 35

FIGURE 18 GLOBAL SOLAR INVERTER MARKET, BY TYPE, 2019 (% SHARE) 37

FIGURE 19 GLOBAL SOLAR INVERTER MARKET, BY TYPE, 2020 TO 2027 (USD MILLION) 38

FIGURE 20 GLOBAL SOLAR INVERTER MARKET, BY SYSTEM TYPE, 2019 (% SHARE) 42

FIGURE 21 GLOBAL SOLAR INVERTER MARKET, BY SYSTEM TYPE, 2020 TO 2027 (USD MILLION) 43

FIGURE 22 GLOBAL SOLAR INVERTER MARKET, BY END-USE, 2019 (% SHARE) 45

FIGURE 23 GLOBAL SOLAR INVERTER MARKET, BY END-USE, 2020 TO 2027 (USD MILLION) 46

FIGURE 24 GLOBAL SOLAR INVERTER MARKET, BY REGION, 2019 (% SHARE) 48

FIGURE 25 GLOBAL SOLAR INVERTER MARKET, BY REGION, 2020–2027 (USD MILLION) 49

FIGURE 26 BENCHMARKING OF MAJOR COMPETITORS 77

FIGURE 27 GLOBAL SOLAR INVERTER MARKET SHARE ANALYSIS, 2020 78

FIGURE 28 ABB: FINANCIAL OVERVIEW SNAPSHOT 80

FIGURE 29 ABB: SWOT ANALYSIS 82

FIGURE 30 SMA SOLAR TECHNOLOGY AG: FINANCIAL OVERVIEW SNAPSHOT 84

FIGURE 31 SMA SOLAR TECHNOLOGY AG: SWOT ANALYSIS 86

FIGURE 32 CANADIAN SOLAR: FINANCIAL OVERVIEW SNAPSHOT 88

FIGURE 33 CANADIAN SOLAR: SWOT ANALYSIS 89

FIGURE 34 SOLAREDGE TECHNOLOGIES INC: FINANCIAL OVERVIEW SNAPSHOT 91

FIGURE 35 SOLAREDGE TECHNOLOGIES INC: SWOT ANALYSIS 92

FIGURE 36 SUNPOWER CORPORATION: FINANCIAL OVERVIEW SNAPSHOT 95

FIGURE 37 SUNPOWER CORPORATION: SWOT ANALYSIS 96

FIGURE 38 DELTA ELECTRONICS, INC.: FINANCIAL OVERVIEW SNAPSHOT 98

Solar Inverter Market