The study assesses and discusses the effect of the outbreak of COVID-19 on the global solar inverter market, including possible opportunities and obstacles, drivers, and risks.
Solar inverters play a crucial role in a solar energy system.
Nevertheless, the high operational and maintenance costs of the solar inverter are expected to restrict the market’s growth during the forecast period.Global electricity demand is anticipated to rise significantly in the coming years due to rapid urbanization, growing population, an increase in infrastructure growth, and increased electricity access.
For illustration, in 2019, the Italian Government set a goal of reaching 50 GW of solar power generation capacity by 2030 to raise the share of renewable energy in the country’s total energy generation.Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/4071Moreover, in the same year, the German Government set a goal to achieve 98 GW of solar electricity generation capacity by 2030.
Solar inverters are deployed to convert the direct current generated from solar panels to alternating current for applications in industries like utilities and commercial applications.
Consequently, the increasing solar power system installations are anticipated to propel the growth of the global market for solar inverters during the forecast period.Market SegmentationThe global solar inverter market has been divided into type, system type, and application.Based on type, the global solar inverter market has been segmented into the central inverter, micro-inverter, and string inverter.Based on system type, the global solar inverter market has been segmented into on-grid and off-grid.By application, the global solar inverter market has been segmented into residential, commercial, and utilities.List of TablesTABLE 1 PRIMARY INTERVIEWS 23TABLE 2 LIST OF ASSUMPTIONS 27TABLE 3 GLOBAL SOLAR INVERTER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 38TABLE 4 CENTRAL INVERTER: GLOBAL SOLAR INVERTER: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 (USD MILLION) 39TABLE 5 CENTRAL INVERTER: GLOBAL SOLAR INVERTER: MARKET ESTIMATES & FORECAST, BY INTEGRATION, 2017–2025 (USD MILLION)39TABLE 6 MICRO INVERTER: GLOBAL SOLAR INVERTER: MARKET ESTIMATES & FORECAST, BY PHASE, 2017–2025 (USD MILLION) 40Continued…Regional AnalysisRegionally, the global solar inverter market has been segmented as Europe, North America, Asia Pacific, and the rest of the world.The Asia Pacific is set to capture most of the market share during the forecast period, owing to an increase in investment in the construction sector.