PV Inverter Market industry revenue is anticipated to hit over USD 4 billion by 2024
Category: #business  By Deepak Pardhi  Date: 2019-09-12
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PV Inverter Market industry revenue is anticipated to hit over USD 4 billion by 2024

The PV Inverter Market study focuses major leading industry players with information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. It provides information on trends and developments, and focuses on markets and materials, capacities and technologies, and on the changing structure.

Over the past few years, the growing impact of renewable energy installation across the globe has ushered lucrative trends for PV inverter market players. Given the robust commercialization scope of this vertical, the core industry players are continuously seen expanding their global reach, in turn favoring the growth of PV inverter market. A recent instance bearing testimony to the same is of prominent PV inverter manufacturing company, Sungrow Power Supply making it to the headlines for establishing a new subsidiary in Dubai, UAE, as it aims for business expansion in the region.

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The PV inverter manufacturing company reported that the Middle East and Northern Africa (MENA) market has huge growth potential and is growing rapidly with 12 GW of utility-scale solar contracts. Recent market studies further reveal that 21 GW is likely to be installed in the pre-contract phase, in turn creating huge space of PV inverter market players to source lucrative growth avenues.

Speaking along similar lines, as a technology pioneer in the global PV inverter industry, Sungrow showcased its leading 1500V product portfolio, turnkey station SG3400HV-MV, and the string inverter SG125HV at the Vietnam Solar Energy Summit 2018. This has helped the companies alike to receive many contracts across myriad geographies to install PV inverter that reduces overall costs and help in overall renewable energy targets. Such growth strategies adopted by the companies to expand their business faster is expected to support the overall PV inverter industry trends.

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The Chinese government’s latest decision of curtailing the distributed generation & utility scale PV deployments has not only surprised the entire industry, but has also fuelled a significant decline of inverters and modules. Several international companies including Jolywood, Sungrow, Tongwei, and Risen Energy have reported that their financial performance had been negatively impacted by the new deal, because of the tremendous decrease in regional PV installation in the Q3 of FY2018.

 China, for the record, has been one of the biggest investment grounds for potential industry players. The latest move, however, is expected to support the domestic PV inverter, wafer, module, cell, mounting system manufacturers, given the vast scale of renewable energy & micro grid projects in China.

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All in all, the increasing dependency on renewable energy from solar, hydropower, and wind, coupled the supportive regulatory stance for energy transformation from regional governments have been undeniably generating lucrative growth opportunities for the PV inverter market participants. Further driven by strong product innovation trends, the commercialization matrix of PV inverter market is expected to nothing but proliferate in the ensuing years. A presumption validating the same is of Global Market Insights, Inc., that claims the global PV inverter market size to hit USD 11 billion in terms of the remuneration by 2024.

Partial Table of Contents (ToC) of the report:

Chapter 4. Photovoltaic (PV) Inverter Market, By Power Class

4.1.    Photovoltaic (PV) inverter market share by power class, 2017 & 2024

4.2.    Single Phase

4.2.1.   Market estimates and forecast, 2013 – 2024

4.3.   Three Phase

4.3.1.   Market estimates and forecast, 2013 – 2024

4.3.2.   Low Power (≤99 kW)

4.3.2.1.   Market estimates and forecast, 2013 – 2024

4.3.3.   High Power (>99 kW)

4.3.3.1.   Market estimates and forecast, 2013 – 2024

Chapter 5. Photovoltaic (PV) Inverter Market, By Nominal Output Power

5.1. Photovoltaic (PV) inverter market by nominal output power, 2017 & 2024

5.2. ≤ 300 W

5.2.1.  Market estimates and forecast, 2013 – 2024

5.3. 300 - 3,000 W

5.3.1.  Market estimates and forecast, 2013 – 2024

5.4. 3,000 - 33,000 W

5.4.1.  Market estimates and forecast, 2013 – 2024

5.5. 33,000 - 110,000 W

5.5.1.  Market estimates and forecast, 2013 – 2024

5.6. > 110,000 W

5.6.1.  Market estimates and forecast, 2013 – 2024

 Browse complete table of content of this report @ https://www.gminsights.com/toc/detail/pv-inverter-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Deepak Pardhi    

Deepak Pardhi

Deepak Pardhi carries a brief yet notable experience in the digital marketing domain having worked on several projects across a range of niche verticals. Deepak is endorsed with a B.Tech degree in electrical & electronics engineering.

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