Renewable Energy Inverters Market to Record 11.83% of Y-O-Y Growth Rate in 2022 |68% of the growth to Originate from APAC | Technavio

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NEW YORK , March 18, 2022 /PRNewswire/ —  Scrubber Market Facts at a Glance-

Technavio has announced its latest market research report titled Renewable Energy Inverters Market by Application and Geography - Forecast and Analysis 2022-2026

  • Total Pages: 120
  • Companies: 20+ – Including Eaton Corp. Plc, Elpower Srl, Enphase Energy Inc., Fimer SpA, Fronius International GmbH, General Electric Co., GoodWe Technology Co. Ltd., Huawei Investment and Holding Co. Ltd., Ingeteam Corp. SA, KEB America Inc., Layer Electronics Srl, Panasonic Corp., Power Electronics Espana SLU, Schneider Electric SE, Siemens AG, Sineng Electric Co. Ltd., SMA Solar Technology AG, SolarEdge Technologies Inc., Sungrow Power Supply Co. Ltd., and TBEA Co. Ltd. among others.
  • Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape; COVID impact & recovery analysis
  • Segments: Application (Solar PV, EV, and Wind)
  • Geographies: (APAC, Europe, North America, South America, and Middle East and Africa)

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According to the recent market study by Technavio, the Renewable Energy Inverters Market’s potential growth difference will be USD 8.43 billion from 2021 to 2026. The report also identifies the market to witness a decelerating growth momentum at a CAGR of 10.9%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.

APAC will register the highest growth rate of 68% among the other regions. The high solar PV installations and rapidly growing demand for EVs in countries such as China, India, Japan, and Australia will facilitate the renewable energy inverters market growth in APAC over the forecast period. China, India, and Japan are the key markets for renewable energy inverters in APAC.

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Vendor Insights-

The renewable energy inverters market is fragmented and the vendors are deploying growth strategies such as product differentiation to compete in the market. Companies are launching innovative solutions to beat the market competition. For instance, Elpower Srl offers a wide range of renewable energy inverters such as Cleanverter 10-30 TL, Cleanverter PV 40-80 among others.

Some of the major vendors covered in this report are:

  • Eaton Corp. Plc
  • Elpower Srl
  • Enphase Energy Inc.
  • Fimer SpA
  • Fronius International GmbH
  • General Electric Co.
  • GoodWe Technology Co. Ltd.
  • Huawei Investment and Holding Co. Ltd.
  • Ingeteam Corp. SA
  • KEB America Inc.
  • Layer Electronics Srl
  • Panasonic Corp.
  • Power Electronics Espana SLU
  • Schneider Electric SE
  • Siemens AG
  • Sineng Electric Co. Ltd.
  • SMA Solar Technology AG
  • SolarEdge Technologies Inc.
  • Sungrow Power Supply Co. Ltd.
  • TBEA Co. Ltd.

Find additional highlights on the vendors and their product offerings. Download Free Sample Report

Key Segment Highlights

By Application

  • Solar PV

    The solar PV segment held the largest renewable energy inverters market share in 2021. The segment will continue to account for the largest market share throughout the forecast period. The installation of solar PV systems will be driven by the growth is attributed to the decline in the levelized cost of electricity (LCOE) of solar power generation, coupled with favorable government policies and advancements in the components of solar PV systems.
  • EV
  • Wind

Download our FREE sample report for more key highlights on other contributing segments.

Latest Drivers & Trends Driving the Market-

  • Renewable Energy Inverters Market Driver:
    • Declining cost of solar and wind power generation:

Several initiatives have been taken across by the global governments to leverage the declining costs of solar and wind power generation. For instance, in May 2021, SETO launched Multi-Year Program Plan to reduce solar PV system costs by 2025. The targets for 2030 are USD 0.05 per kilowatt-hour (kWh) for residential PV, USD 0.04 per kWh for commercial PV, and USD 0.02 per kWh hour for utility-scale PV. Similarly, in the case of wind energy, the global weighted average cost for onshore wind installations decreased by around one-third between 2010 and 2020.

  • Renewable Energy Inverters Market Trend:
    • Advances in power electronics used in solar PV systems:

The power electronics-based conversion technique has revolutionized electricity generation by increasing product efficiency and streamlining manufacturing processes of components such as solar PV inverters. In addition, several developments are being undertaken to improve the efficiency of power electronics. For instance, the SunShot National Laboratory Multiyear Partnership (SuNLaMP) funding program has progressed toward the SunShot initiative goals in the US. Such factors will further support the market growth in the coming years.

Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.

Didn’t Find What You Were Looking For? Customize Report-

Don’t miss out on the opportunity to speak to our analyst and know more insights about this market report. Our analysts can also help you customize this report according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time.

We offer USD 1,000 worth of FREE customization at the time of purchase. Speak to our Analyst now!

Here are Some Similar Topics-

Renewable Energy Market by Type and Geography – Forecast and Analysis 2022-2026

Renewable Energy Inverters Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 10.9%

Market growth 2022-2026

$ 8.43 billion

Market structure

Fragmented

YoY growth (%)

11.83

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 68%

Key consumer countries

US, China, India, Japan, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Eaton Corp. Plc, Elpower Srl, Enphase Energy Inc., Fimer SpA, Fronius International GmbH, General Electric Co., GoodWe Technology Co. Ltd., Huawei Investment and Holding Co. Ltd., Ingeteam Corp. SA, KEB America Inc., Layer Electronics Srl, Panasonic Corp., Power Electronics Espana SLU, Schneider Electric SE, Siemens AG, Sineng Electric Co. Ltd., SMA Solar Technology AG, SolarEdge Technologies Inc., Sungrow Power Supply Co. Ltd., and TBEA Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key topics Covered

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026
    • Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ million)
    • Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis – Comparison between 2021 and 2026
  • 4.2 Bargaining power of buyers
    • Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026
  • 4.3 Bargaining power of suppliers
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by Application

  • 5.1 Market segments
    • Exhibit 24: Chart on Application – Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Application – Market share 2021-2026 (%)
  • 5.2 Comparison by Application
    • Exhibit 26: Chart on Comparison by Application
    • Exhibit 27: Data Table on Comparison by Application
  • 5.3 Solar PV – Market size and forecast 2021-2026
    • Exhibit 28: Chart on Solar PV – Market size and forecast 2021-2026 ($ million)
    • Exhibit 29: Data Table on Solar PV – Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Chart on Solar PV – Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Solar PV – Year-over-year growth 2021-2026 (%)
  • 5.4 EV – Market size and forecast 2021-2026
    • Exhibit 32: Chart on EV – Market size and forecast 2021-2026 ($ million)
    • Exhibit 33: Data Table on EV – Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Chart on EV – Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on EV – Year-over-year growth 2021-2026 (%)
  • 5.5 Wind – Market size and forecast 2021-2026
    • Exhibit 36: Chart on Wind – Market size and forecast 2021-2026 ($ million)
    • Exhibit 37: Data Table on Wind – Market size and forecast 2021-2026 ($ million)
    • Exhibit 38: Chart on Wind – Year-over-year growth 2021-2026 (%)
    • Exhibit 39: Data Table on Wind – Year-over-year growth 2021-2026 (%)
  • 5.6 Market opportunity by Application
    • Exhibit 40: Market opportunity by Application ($ million)

6 Customer Landscape

  • 6.1 Customer landscape overview
    • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison
    • Exhibit 44: Chart on Geographic comparison
    • Exhibit 45: Data Table on Geographic comparison
  • 7.3 APAC – Market size and forecast 2021-2026
    • Exhibit 46: Chart on APAC – Market size and forecast 2021-2026 ($ million)
    • Exhibit 47: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
    • Exhibit 48: Chart on APAC – Year-over-year growth 2021-2026 (%)
    • Exhibit 49: Data Table on APAC – Year-over-year growth 2021-2026 (%)
  • 7.4 Europe – Market size and forecast 2021-2026
    • Exhibit 50: Chart on Europe – Market size and forecast 2021-2026 ($ million)
    • Exhibit 51: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
    • Exhibit 52: Chart on Europe – Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on Europe – Year-over-year growth 2021-2026 (%)
  • 7.5 North America – Market size and forecast 2021-2026
    • Exhibit 54: Chart on North America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on North America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on North America – Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on North America – Year-over-year growth 2021-2026 (%)
  • 7.6 South America – Market size and forecast 2021-2026
    • Exhibit 58: Chart on South America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on South America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on South America – Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on South America – Year-over-year growth 2021-2026 (%)
  • 7.7 Middle East and Africa – Market size and forecast 2021-2026
    • Exhibit 62: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
    • Exhibit 63: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
    • Exhibit 64: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)
  • 7.8 China – Market size and forecast 2021-2026
    • Exhibit 66: Chart on China – Market size and forecast 2021-2026 ($ million)
    • Exhibit 67: Data Table on China – Market size and forecast 2021-2026 ($ million)
    • Exhibit 68: Chart on China – Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on China – Year-over-year growth 2021-2026 (%)
  • 7.9 US – Market size and forecast 2021-2026
    • Exhibit 70: Chart on US – Market size and forecast 2021-2026 ($ million)
    • Exhibit 71: Data Table on US – Market size and forecast 2021-2026 ($ million)
    • Exhibit 72: Chart on US – Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on US – Year-over-year growth 2021-2026 (%)
  • 7.10 India – Market size and forecast 2021-2026
    • Exhibit 74: Chart on India – Market size and forecast 2021-2026 ($ million)
    • Exhibit 75: Data Table on India – Market size and forecast 2021-2026 ($ million)
    • Exhibit 76: Chart on India – Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on India – Year-over-year growth 2021-2026 (%)
  • 7.11 Japan – Market size and forecast 2021-2026
    • Exhibit 78: Chart on Japan – Market size and forecast 2021-2026 ($ million)
    • Exhibit 79: Data Table on Japan – Market size and forecast 2021-2026 ($ million)
    • Exhibit 80: Chart on Japan – Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on Japan – Year-over-year growth 2021-2026 (%)
  • 7.12 Germany – Market size and forecast 2021-2026
    • Exhibit 82: Chart on Germany – Market size and forecast 2021-2026 ($ million)
    • Exhibit 83: Data Table on Germany – Market size and forecast 2021-2026 ($ million)
    • Exhibit 84: Chart on Germany – Year-over-year growth 2021-2026 (%)
    • Exhibit 85: Data Table on Germany – Year-over-year growth 2021-2026 (%)
  • 7.13 Market opportunity by geography
    • Exhibit 86: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges
    • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 89: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 90: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 91: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 92: Matrix on vendor position and classification
  • 10.3 Elpower Srl
    • Exhibit 93: Elpower Srl – Overview
    • Exhibit 94: Elpower Srl – Product / Service
    • Exhibit 95: Elpower Srl – Key offerings
  • 10.4 Fimer SpA
    • Exhibit 96: Fimer SpA – Overview
    • Exhibit 97: Fimer SpA – Product / Service
    • Exhibit 98: Fimer SpA – Key offerings
  • 10.5 GoodWe Technology Co. Ltd.
    • Exhibit 99: GoodWe Technology Co. Ltd. – Overview
    • Exhibit 100: GoodWe Technology Co. Ltd. – Product / Service
    • Exhibit 101: GoodWe Technology Co. Ltd. – Key offerings
  • 10.6 Huawei Investment and Holding Co. Ltd.
    • Exhibit 102: Huawei Investment and Holding Co. Ltd. – Overview
    • Exhibit 103: Huawei Investment and Holding Co. Ltd. – Business segments
    • Exhibit 104: Huawei Investment and Holding Co. Ltd. – Key offerings
    • Exhibit 105: Huawei Investment and Holding Co. Ltd. – Segment focus
  • 10.7 Layer Electronics Srl
    • Exhibit 106: Layer Electronics Srl – Overview
    • Exhibit 107: Layer Electronics Srl – Product / Service
    • Exhibit 108: Layer Electronics Srl – Key offerings
  • 10.8 Power Electronics Espana SLU
    • Exhibit 109: Power Electronics Espana SLU – Overview
    • Exhibit 110: Power Electronics Espana SLU – Product / Service
    • Exhibit 111: Power Electronics Espana SLU – Key offerings
  • 10.9 Schneider Electric SE
    • Exhibit 112: Schneider Electric SE – Overview
    • Exhibit 113: Schneider Electric SE – Business segments
    • Exhibit 114: Schneider Electric SE – Key news
    • Exhibit 115: Schneider Electric SE – Key offerings
    • Exhibit 116: Schneider Electric SE – Segment focus
  • 10.10 Siemens AG
    • Exhibit 117: Siemens AG – Overview
    • Exhibit 118: Siemens AG – Business segments
    • Exhibit 119: Siemens AG – Key news
    • Exhibit 120: Siemens AG – Key offerings
    • Exhibit 121: Siemens AG – Segment focus
  • 10.11 Sineng Electric Co. Ltd.
    • Exhibit 122: Sineng Electric Co. Ltd. – Overview
    • Exhibit 123: Sineng Electric Co. Ltd. – Product / Service
    • Exhibit 124: Sineng Electric Co. Ltd. – Key offerings
  • 10.12 SMA Solar Technology AG
    • Exhibit 125: SMA Solar Technology AG – Overview
    • Exhibit 126: SMA Solar Technology AG – Business segments
    • Exhibit 127: SMA Solar Technology AG – Key offerings
    • Exhibit 128: SMA Solar Technology AG – Segment focus

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist
    • Exhibit 129: Inclusions checklist
    • Exhibit 130: Exclusions checklist
  • 11.3 Currency conversion rates for US$
    • Exhibit 131: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 132: Research methodology
    • Exhibit 133: Validation techniques employed for market sizing
    • Exhibit 134: Information sources
  • 11.5 List of abbreviations
    • Exhibit 135: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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