CHICAGO, April 13, 2023 /PRNewswire/ -- According to Arizton's latest research report, the PV inverter market will grow at a CAGR of 13.54% from 2022-2028.
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BROWSE IN-DEPTH TOC OF THE PV INVERTER MARKET
94 - Tables?????
122 - Figures?????
299 - Pages???
The smart home is a revolutionary concept in residential spaces that enhances comfort, convenience, security, entertainment, and sustainability. A smart home can be defined as a residential space or a building equipped with special connected platforms that enable the resident of the building to remotely control electronic devices or appliances via gadgets and computing technology. Technological advances like voice control, artificial intelligence, and intelligent assistant have created a viable control center for smart and connected homes. The development of smart cities is also expected to drive individuals toward automation and higher dependence on products that incorporate the Internet of Things and Machine Learning (IoT and ML) technologies. Moreover, smart infrastructure, such as smart homes and buildings, is also expected to witness a boom in the future, offering a positive outlook for adopting smart products. With the rising demand for smart home technology, the demand for smart PV inverter technology is expected to grow.
PV Inverter Market Report Scope
Report Attributes | Details |
Market Size (2028) | USD 13.98 Billion |
Market Size (2022) | USD 6.52 Billion |
CAGR (2022-2028) | 13.54 % |
Base Year | 2022 |
Forecast Year | 2023-2028 |
Market Segmentation | Product Type, Phase Type, Connection Type, Power Output, End User, Distribution Channel, and Geography |
Geographic Analysis | North America, Europe, APAC, Latin America, and Middle East & Africa |
Countries Covered | China, India, Japan, Australia, the US, Canada, Germany, the UK, Spain, France, Italy, Saudi Arabia, the UAE, Saudi Africa, Brazil, Mexico, and Argentina |
Largest Market | APAC |
Market Dynamics | The Growth of Green Building Activities Incorporation of Photovoltaic in Rooftop Sustainability Reshaping Global Construction Market |
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Growth of Green Building Activities Positively Impacting the Market Growth
The green building creates structures using environmentally sustainable and resource-efficient processes throughout the building's lifecycle, from sitting to design, construction, operation, maintenance, renovation, and deconstruction. Green buildings are also known as sustainable and high-performance buildings. Solar panels are an effective way for a building to meet its sustainability standards. These PV power panels can provide abundant eco-friendly energy resources, reducing or eliminating the need for electric consumption. PV inverters or controlled admission of clean and pollution-free renewable energy can reduce the requirement of electricity to the building and save energy.
Moreover, using renewable electricity in commercial buildings can reduce the building's electric appliances' energy use by an additional 10% to 20%. Thus, for several commercial and institutional buildings, the total energy cost can be reduced by one-third through the optimal implementation of PV panel strategies. This high number of installations drives the market demand for PV inverters.
Incorporation of Photovoltaic in Rooftop Creating the Market Growth
Building-integrated photovoltaics (BIPV) are photovoltaic materials used to replace conventional building materials in parts of the building envelope, such as the PV inverters' facades, curtain walls, canopies, roofs, and walls of the building. Integrating photovoltaic technology (BIPV) can provide aesthetical economic and technological solutions for buildings' electric self-sufficiency. It is the most promising technology for harvesting solar energy in urban areas. It provides multiple building benefits, including power generation from renewable energy resources, daylighting solutions, and heating and cooling load reduction.
Countries like the UK, the US, Germany, and France, are anticipated to increase demand for roof installations in the commercial and residential sectors. In addition, the growing implementation of energy storage systems is expected to accelerate demand for off-grid solar PV systems. Therefore, more building-integrated photovoltaics on the rooftops are expected to increase the PV inverter.
Geographical Analysis
In 2022, due to spiking urbanization, the APAC market construction industry projected significant growth. The demand for residential construction remained strong in developing economies-multiple real estate projects in various industrial, residential, and commercial development zones. The current trend is expected to increase momentum. Hence, the new construction sector is a crucial growth factor for the APAC PV inverter market. The PV inverter market in APAC is growing at a CAGR of 14.28% during 2022-2028.
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Key Company Profiles
- SMA Solar Technology AG
- Sungrow
- Siemens AG
- Delta Electronics, INC
- Solaredge technologies, Inc
- HUAWEI Technologies Co
- Fimer Group
- Emerson Electric Co
- GINLONG Technologies
- Power Electronics S.L
- HITACHI HI-REL Power Electronics PVT. LTD
- Bosch
- SunPower Corporation
- Samsung
- Johnson Controls
- Panasonic
- Fronius International GMBH
- Lennox
- TSI Incorporated
- Enertronica Santerno SpA
Market Segmentation
Product Type
- String Inverter
- Central Inverter
- Micro Inverter
- Other Inverter
Phase Type
- Three Phase
- Single Phase
Connection Type
- On-Grid
- Off-Grid
Power Output
- 33-110 Kw
- >110 Kw
End User
- Utilities
- Commercial
- Industrial
- Residential
Distribution Channel
- Offline
- Online
Geography
- APAC
- China
- India
- Japan
- Australia
- North America
- The US
- Canada
- Europe
- Germany
- The UK
- Spain
- France
- Italy
- Middle East & Africa
- Saudi Arabia
- The UAE
- Saudi Africa
- Latin America
- Brazil
- Mexico
- Argentina
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Building Integrated Photovoltaics (BIPV) Market - Global Outlook and Forecast 2021-2026: The global BIPV market is expected to reach USD 8.7 billion by 2026. Europe and APAC are expected to dominate the global BIPV market. Moreover, the ability of connected devices to keep smart homes self-sustained in terms of power consumption is driving the demand for BIPV from the design phase.
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Table of Content
1 RESEARCH METHODOLOGY
2 RESEARCH OBJECTIVES
3 RESEARCH PROCESS
4 SCOPE & COVERAGE
4.1 MARKET DEFINITION
4.1.1 INCLUSIONS
4.1.2 EXCLUSIONS
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
4.4 MARKET SEGMENTATION
4.4.1 MARKET SEGMENTATION BY PRODUCT TYPE
4.4.2 MARKET SEGMENTATION BY PHASE TYPE
4.4.3 MARKET SEGMENTATION BY CONNECTION TYPE
4.4.4 MARKET SEGMENTATION BY POWER OUTPUT
4.4.5 MARKET SEGMENTATION BY END-USER
4.4.6 MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
4.4.7 MARKET SEGMENTATION BY GEOGRAPHY
5 REPORT ASSUMPTIONS & CAVEATS
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION
6 PREMIUM INSIGHTS
6.1.1 OPPORTUNITY & CHALLENGE ANALYSIS
6.1.2 HIGHLIGHTS
6.1.3 PRODUCT TYPE
6.1.4 PHASE TYPE
6.1.5 CONNECTION TYPE
6.1.6 END-USER TYPE
6.1.7 COMPETITIVE LANDSCAPE
7 MARKET AT A GLANCE
8 INTRODUCTION
8.1 OVERVIEW
8.2 TECHNOLOGY INTEGRATION
8.3 GLOBAL KEY HIGHLIGHTS REGARDING SOLAR ENERGY
8.4 PV INSTALLATION IN RESIDENTIAL CONSTRUCTION
8.5 PV INSTALLATION IN COMMERCIAL CONSTRUCTION
8.6 GOVERNMENT REGULATIONS PROMOTING SOLAR INVERTERS
8.6.1 OVERVIEW
8.6.2 REPOWEREU PLAN CONTRIBUTION TO SOLAR PV MARKET GROWTH
8.6.3 US INFLATION REDUCTION ACT PROVIDES BENEFITS TO PV INVERTER MARKET
8.7 SOLAR PV MARKET STATUS
8.7.1 MARKET COMPETITION FOR PV INVERTERS
8.7.2 MARKET LIFE DURATION OR PAYBACK PERIOD FOR PV INVERTERS
8.7.3 MARKET INITIAL INVESTMENT FOR PV INVERTERS
8.8 LEADING PLAYER IN PV INVERTER
8.8.1 KEY STRATEGIES BY KEY INDUSTRY PARTICIPANTS
8.9 IMPACT OF COVID-19 AND RUSSIA INVASION
8.9.1 RUSSIA & UKRAINE GLOBAL IMPACT
8.10 VALUE CHAIN
8.10.1 RAW MATERIAL SUPPLIERS & COMPONENTS
8.10.2 MANUFACTURERS
8.10.3 DEALERS/DISTRIBUTORS
8.10.4 RETAILERS
8.10.5 END-USERS
9 MARKET OPPORTUNITY & TRENDS
9.1 REGULATION ON ENERGY EFFICIENCY DRIVING PV INVERTER DEMAND
9.2 ADVANCES IN PV INVERTERS IN SMART HOMES
9.3 AIRPORT MODERNIZATION
10 MARKET GROWTH ENABLERS
10.1 GROWTH OF GREEN BUILDING ACTIVITIES
10.2 INCORPORATION OF PHOTOVOLTAIC IN ROOFTOP
10.3 SUSTAINABILITY RESHAPING GLOBAL CONSTRUCTION MARKET
10.4 INCORPORATION OF ON-SITE PHOTOVOLTAIC SOLAR POWER FOR THE DATA CENTERS MARKET
10.4.1 DATA CENTER UTILIZATION OF RENEWABLE ENERGY
11 MARKET RESTRAINTS
11.1 HIGH COST OF INSTALLING SOLAR PANELS HAMMER THE DEMAND FOR PV INVERTER
11.2 RAW MATERIAL PRICE VOLATILITY
11.3 INCREASED COMPETITION FROM CHINESE VENDORS
12 MARKET LANDSCAPE
12.1 MARKET OVERVIEW
12.2 MARKET SIZE & FORECAST
12.3 FIVE FORCES ANALYSIS
12.3.1 THREAT OF NEW ENTRANTS
12.3.2 BARGAINING POWER OF SUPPLIERS
12.3.3 BARGAINING POWER OF BUYERS
12.3.4 THREAT OF SUBSTITUTES
12.3.5 COMPETITIVE RIVALRY
13 PRODUCT TYPE
13.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
13.1.1 MARKET OVERVIEW
13.1.2 STRING INVERTER: MARKET SIZE & FORECAST
13.1.3 CENTRAL INVERTER: MARKET SIZE & FORECAST
13.1.4 MICRO INVERTER: MARKET SIZE & FORECAST
13.1.5 OTHER INVERTER: MARKET SIZE & FORECAST
14 PHASE TYPE
14.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
14.1.1 MARKET OVERVIEW
14.1.2 THREE PHASE: MARKET SIZE & FORECAST
14.1.3 SINGLE PHASE: MARKET SIZE & FORECAST
15 CONNECTION TYPE
15.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
15.1.1 MARKET OVERVIEW
15.1.2 ON-GRID: MARKET SIZE & FORECAST
15.1.3 OFF GRID: MARKET SIZE & FORECAST
16 POWER OUTPUT TYPE
16.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
16.1.1 MARKET OVERVIEW
16.1.2 <0.5-33 KW POWER OUTPUT: MARKET SIZE & FORECAST
16.1.3 33-110 KW POWER OUTPUT: MARKET SIZE & FORECAST
16.1.4 >110 KW POWER OUTPUT: MARKET SIZE & FORECAST
17 END-USER
17.1 MARKET SNAPSHOT & GROWTH ENGINE
17.2 MARKET OVERVIEW
17.3 UTILITIES
17.3.1 MARKET OVERVIEW
17.3.2 MARKET SIZE & FORECAST
17.4 COMMERCIAL
17.4.1 MARKET OVERVIEW
17.4.2 MARKET SIZE & FORECAST
17.5 INDUSTRIAL
17.5.1 MARKET OVERVIEW
17.5.2 MARKET SIZE & FORECAST
17.6 RESIDENTIAL
17.6.1 MARKET OVERVIEW
17.6.2 MARKET SIZE & FORECAST
18 DISTRIBUTION CHANNEL
18.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
18.2 MARKET OVERVIEW
18.3 OFFLINE
18.3.1 MARKET OVERVIEW
18.3.2 DEALERS & DISTRIBUTORS
18.3.3 SPECIALTY STORES
18.3.4 MASS MARKET PLAYERS
18.3.5 MARKET SIZE & FORECAST (VALUE)
18.4 ONLINE
18.4.1 MARKET OVERVIEW
18.4.2 DIRECT SALES
18.4.3 THIRD-PARTY SALES
18.4.4 MARKET SIZE & FORECAST (VALUE)
19 GEOGRAPHY
19.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
19.2 GEOGRAPHY OVERVIEW
20 APAC
20.1 MARKET OVERVIEW
20.2 MARKET SIZE & FORECAST
20.3 PRODUCT TYPE
20.3.1 MARKET SIZE & FORECAST
20.4 POWER OUTPUT
20.4.1 MARKET SIZE & FORECAST
20.5 PHASE TYPE
20.5.1 MARKET SIZE & FORECAST
20.6 CONNECTION TYPE
20.6.1 MARKET SIZE & FORECAST
20.7 END-USER
20.7.1 MARKET SIZE & FORECAST
20.8 DISTRIBUTION CHANNEL
20.8.1 MARKET SIZE & FORECAST
20.9 KEY COUNTRIES
20.9.1 CHINA: MARKET SIZE & FORECAST
20.9.2 INDIA: MARKET SIZE & FORECAST
20.9.3 JAPAN: MARKET SIZE & FORECAST
20.9.4 AUSTRALIA: MARKET SIZE & FORECAST
21 NORTH AMERICA
21.1 MARKET OVERVIEW
21.2 MARKET SIZE & FORECAST
21.3 PRODUCT TYPE
21.3.1 MARKET SIZE & FORECAST
21.4 POWER OUTPUT
21.4.1 MARKET SIZE & FORECAST
21.5 PHASE TYPE
21.5.1 MARKET SIZE & FORECAST
21.6 CONNECTION TYPE
21.6.1 MARKET SIZE & FORECAST
21.7 END-USER
21.7.1 MARKET SIZE & FORECAST
21.8 DISTRIBUTION CHANNEL
21.8.1 MARKET SIZE & FORECAST
21.9 KEY COUNTRIES
21.9.1 US: MARKET SIZE & FORECAST
21.9.2 CANADA: MARKET SIZE & FORECAST
22 EUROPE
22.1 MARKET OVERVIEW
22.2 MARKET SIZE & FORECAST
22.3 PRODUCT TYPE
22.3.1 MARKET SIZE & FORECAST
22.4 POWER OUTPUT
22.4.1 MARKET SIZE & FORECAST
22.5 PHASE TYPE
22.5.1 MARKET SIZE & FORECAST
22.6 CONNECTION TYPE
22.6.1 MARKET SIZE & FORECAST
22.7 END-USER
22.7.1 MARKET SIZE & FORECAST
22.8 DISTRIBUTION CHANNEL
22.8.1 MARKET SIZE & FORECAST
22.9 KEY COUNTRIES
22.9.1 GERMANY: MARKET SIZE & FORECAST
22.9.2 FRANCE: MARKET SIZE & FORECAST
22.9.3 UK: MARKET SIZE & FORECAST
22.9.4 ITALY: MARKET SIZE & FORECAST
22.9.5 SPAIN: MARKET SIZE & FORECAST
23 MEA
23.1 MARKET OVERVIEW
23.2 MARKET SIZE & FORECAST
23.3 PRODUCT TYPE
23.3.1 MARKET SIZE & FORECAST
23.4 POWER OUTPUT
23.4.1 MARKET SIZE & FORECAST
23.5 PHASE TYPE
23.5.1 MARKET SIZE & FORECAST
23.6 CONNECTION TYPE
23.6.1 MARKET SIZE & FORECAST
23.7 END-USER
23.7.1 MARKET SIZE & FORECAST
23.8 DISTRIBUTION CHANNEL
23.8.1 MARKET SIZE & FORECAST
23.9 KEY COUNTRIES
23.9.1 SAUDI ARABIA: MARKET SIZE & FORECAST
23.9.2 UAE: MARKET SIZE & FORECAST
23.9.3 SOUTH AFRICA: MARKET SIZE & FORECAST
24 LATIN AMERICA
24.1 MARKET OVERVIEW
24.2 MARKET SIZE & FORECAST
24.3 PRODUCT TYPE
24.3.1 MARKET SIZE & FORECAST
24.4 POWER OUTPUT
24.4.1 MARKET SIZE & FORECAST
24.5 PHASE TYPE
24.5.1 MARKET SIZE & FORECAST
24.6 CONNECTION TYPE
24.6.1 MARKET SIZE & FORECAST
24.7 END-USER
24.7.1 MARKET SIZE & FORECAST
24.8 DISTRIBUTION CHANNEL
24.8.1 MARKET SIZE & FORECAST
24.9 KEY COUNTRIES
24.9.1 BRAZIL: MARKET SIZE & FORECAST
24.9.2 MEXICO: MARKET SIZE & FORECAST
24.9.3 ARGENTINA: MARKET SIZE & FORECAST
25 COMPETITIVE LANDSCAPE
25.1 COMPETITION OVERVIEW
26 KEY COMPANY PROFILES
26.1 SMA SOLAR TECHNOLOGY AG
26.1.1 BUSINESS OVERVIEW
26.1.2 PRODUCT OFFERINGS
26.1.3 KEY STRATEGIES
26.1.4 KEY STRENGTHS
26.1.5 KEY OPPORTUNITIES
26.2 SUNGROW
26.3 SIEMENS AG
26.4 DELTA ELECTRONICS, INC
26.5 SOLAREDGE TECHNOLOGIES, INC.
26.6 HUAWEI TECHNOLOGIES CO
27 OTHER PROMINENT VENDORS
27.1 FIMER GROUP
27.1.1 BUSINESS OVERVIEW
27.1.2 PRODUCT OFFERINGS
27.2 EMERSON ELECTRIC CO.
27.3 GINLONG TECHNOLOGIES
27.4 POWER ELECTRONICS S.L
27.5 HITACHI HI-REL POWER ELECTRONICS PVT. LTD
27.6 BOSCH
27.7 SUNPOWER CORPORATION
27.8 SAMSUNG
27.9 JOHNSON CONTROLS
27.10 PANASONIC
27.11 FRONIUS INTERNATIONAL GMBH
27.12 LENNOX
27.13 TSI INCORPORATED
27.14 ENERTRONICA SANTERNO S.P.A
28 REPORT SUMMARY
28.1 KEY TAKEAWAYS
28.2 STRATEGIC RECOMMENDATIONS
29 QUANTITATIVE SUMMARY
29.1 MARKET BY GEOGRAPHY
29.1.1 MARKET SIZE & FORECAST
29.2 MARKET BY PRODUCT TYPE
29.2.1 MARKET SIZE & FORECAST
29.3 MARKET BY POWER OUTPUT
29.3.1 MARKET SIZE & FORECAST
29.4 MARKET BY PHASE TYPE
29.4.1 MARKET SIZE & FORECAST
29.5 MARKET BY CONNECTION TYPE
29.5.1 MARKET SIZE & FORECAST
29.6 MARKET BY END USER
29.6.1 MARKET SIZE & FORECAST
29.7 MARKET BY DISTRIBUTION CHANNEL
29.7.1 MARKET SIZE & FORECAST
30 APPENDIX
30.1 ABBREVIATIONS
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