North America PV Inverter Market Size, Share & Industry Trends Analysis Report By Product (String PV Inverter, Central PV Inverter, Micro PV Inverter, and Other PV Inverter), By End-use, By Country and Growth Forecast, 2023

Description

List of Tables

The North America PV Inverter Market would witness market growth of 17.3% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 929.0 thousand units, showcasing a growth of 17.6% (2019-2022).

The residential sector has embraced solar energy with increasing enthusiasm. It plays a vital role in converting the DC power rendered by solar panels into usable AC power for household consumption. The compact and efficient inverters designed for residential use contribute to decentralizing energy production. Large-scale solar installations in commercial and industrial settings leverage PV inverters to harness solar power efficiently. These inverters are characterized by higher capacity and advanced features to meet the energy demands of businesses, factories, and other large facilities.

Utility-scale solar projects, ranging from solar farms to concentrated solar power (CSP) plants, rely on high-capacity PV inverters to convert massive amounts of solar energy into grid-compatible electricity. These installations contribute significantly to the clean energy mix and help meet the growing global demand for electricity. It plays a pivotal role in off-grid and remote applications, providing a reliable power source where traditional grid connectivity is challenging. These applications include remote telecommunications towers, off-grid communities, and emergency power systems.

According to the International Trade Administration, Canada's total installed electricity generation capacity was approximately 149 GW in 2021 and is projected to gain 170 GW in 2035. Canada is among the few developed countries that predominantly rely on clean hydro energy. In 2022, the electricity generation composition was almost unchanged from the previous year: hydro (61.3%), nuclear (12.9%), fossil fuels (19.2%), wind (6.1%), and solar (0.5%). Various levels of the Canadian government have implemented initiatives and policies to promote renewable energy production. These policies often include incentives, subsidies, and regulatory frameworks that encourage the deployment of solar energy systems, driving the demand for PV inverters. As a result, these aspects will boost the market growth in the coming years.

The US market dominated the North America PV Inverter Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $7,118.5 Million by 2030, growing at a CAGR of 16.5 % during the forecast period. The Canada market is expected to witness a CAGR of 20% during (2023 - 2030). Additionally, The Mexico market is expected to witness a CAGR of 19.6% during (2023 - 2030).

Based on Product, the market is segmented into String PV Inverter, Central PV Inverter, Micro PV Inverter, and Other PV Inverter. Based on End-use, the market is segmented into Utilities, Commercial & Industrial, and Residential. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Delta Electronics, Inc., Eaton Corporation PLC, Emerson Electric Co., Fimer Group, Hitachi, Ltd. (Hitachi Hi-Rel Power Electronics Private Limited), Omron Corporation, Power Electronics Espana, S.L.U. (Advanced Energy Industries, Inc.), Siemens Energy AG, SMA Solar Technology AG, and SunPower Corporation (Infineon Technologies AG)

Scope of the Study

Market Segments covered in the Report:

By Product (Volume, Thousand Units, USD billion, 2019-2030)

String PV Inverter
Central PV Inverter
Micro PV Inverter
Other PV Inverter

By End-use (Volume, Thousand Units, USD billion, 2019-2030)

Utilities
Commercial & Industrial
Residential

By Country (Volume, Thousand Units, USD billion, 2019-2030)

US
Canada
Mexico
Rest of North America

Companies Profiled

Delta Electronics, Inc.
Eaton Corporation PLC
Emerson Electric Co.
Fimer Group
Hitachi, Ltd. (Hitachi Hi-Rel Power Electronics Private Limited)
Omron Corporation
Power Electronics Espana, S.L.U. (Advanced Energy Industries, Inc.)
Siemens Energy AG
SMA Solar Technology AG
SunPower Corporation (Infineon Technologies AG)

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Chapter 1. Market Scope & Methodology

1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
- 1.4.1 North America PV Inverter Market, by Product
- 1.4.2 North America PV Inverter Market, by End-use
- 1.4.3 North America PV Inverter Market, by Country
1.5 Methodology for the research

Chapter 2. Market at a Glance

2.1 Key Highlights

Chapter 3. Market Overview

3.1 Introduction
- 3.1.1 Overview
  - 3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints

Chapter 4. Competition Analysis - Global

4.1 KBV Cardinal Matrix
4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Partnerships, Collaborations and Agreements
- 4.2.2 Product launch and Product Expansions
- 4.2.3 Mergers & Acquisition
- 4.2.4 Geographical Expansions
4.3 Top Winning Strategies
- 4.3.1 Key Leading Strategies: Percentage Distribution (2019-2023)
4.4 Porter's Five Forces Analysis

Chapter 5. North America PV Inverter Market, by Product

5.1 North America String PV Inverter Market, by Country
5.2 North America Central PV Inverter Market, by Country
5.3 North America Micro PV Inverter Market, by Country
5.4 North America Other PV Inverter Market, by Country

Chapter 6. North America PV Inverter Market, by End-use

6.1 North America Utilities Market, by Country
6.2 North America Commercial & Industrial Market, by Country
6.3 North America Residential Market, by Country

Chapter 7. North America PV Inverter Market, by Country

7.1 US PV Inverter Market
- 7.1.1 US PV Inverter Market, by Product
- 7.1.2 US PV Inverter Market, by End-use
7.2 Canada PV Inverter Market
- 7.2.1 Canada PV Inverter Market, by Product
- 7.2.2 Canada PV Inverter Market, by End-use
7.3 Mexico PV Inverter Market
- 7.3.1 Mexico PV Inverter Market, by Product
- 7.3.2 Mexico PV Inverter Market, by End-use
7.4 Rest of North America PV Inverter Market
- 7.4.1 Rest of North America PV Inverter Market, by Product
- 7.4.2 Rest of North America PV Inverter Market, by End-use

Chapter 8. Company Profiles

8.1 Delta Electronics, Inc.
- 8.1.1 Company Overview
- 8.1.2 Financial Analysis
- 8.1.3 Research & Development Expense
- 8.1.4 Recent strategies and developments:
  - 8.1.4.1 Partnerships, Collaborations, and Agreements:
  - 8.1.4.2 Product Launches and Product Expansions:
- 8.1.5 SWOT Analysis
8.2 Eaton Corporation PLC
- 8.2.1 Company Overview
- 8.2.2 Financial Analysis
- 8.2.3 Segmental and Regional Analysis
- 8.2.4 Research & Development Expense
- 8.2.5 Recent strategies and developments:
  - 8.2.5.1 Acquisition and Mergers:
- 8.2.6 SWOT Analysis
8.3 Emerson Electric Co.
- 8.3.1 Company Overview
- 8.3.2 Financial Analysis
- 8.3.3 Segmental and Regional Analysis
- 8.3.4 Research & Development Expense
- 8.3.5 SWOT Analysis
8.4 Fimer Group
- 8.4.1 Company Overview
- 8.4.2 Recent strategies and developments:
  - 8.4.2.1 Product Launches and Product Expansions:
  - 8.4.2.2 Acquisition and Mergers:
- 8.4.3 SWOT Analysis
8.5 Hitachi, Ltd. (Hitachi Hi-Rel Power Electronics Private Limited)
- 8.5.1 Company Overview
- 8.5.2 Financial Analysis
- 8.5.3 Segmental and Regional Analysis
- 8.5.4 Research & Development Expenses
- 8.5.5 Recent strategies and developments:
  - 8.5.5.1 Acquisition and Mergers:
- 8.5.6 SWOT Analysis
8.6 Omron Corporation
- 8.6.1 Company Overview
- 8.6.2 Financial Analysis
- 8.6.3 Segmental and Regional Analysis
- 8.6.4 Research & Development Expenses
- 8.6.5 SWOT Analysis
8.7 Power Electronics Espana, S.L.U (Advanced Energy Industries, Inc.)
- 8.7.1 Company Overview
- 8.7.2 Financial Analysis
- 8.7.3 Research & Development Expenses
- 8.7.4 SWOT Analysis
8.8 Siemens Energy AG
- 8.8.1 Company Overview
- 8.8.2 Financial Analysis
- 8.8.3 Segmental and Regional Analysis
- 8.8.4 Research & Development Expenses
- 8.8.5 Recent strategies and developments:
  - 8.8.5.1 Partnerships, Collaborations, and Agreements:
  - 8.8.5.2 Acquisition and Mergers:
- 8.8.6 SWOT Analysis
8.9 SMA Solar Technology AG
- 8.9.1 Company Overview
- 8.9.2 Financial Analysis
- 8.9.3 Segmental and Regional Analysis
- 8.9.4 Research & Development Expenses
- 8.9.5 Recent strategies and developments:
  - 8.9.5.1 Geographical Expansions:
- 8.9.6 SWOT Analysis
8.10. SunPower Corporation (Infineon Technologies AG)
- 8.10.1 Company Overview
- 8.10.2 Financial Analysis
- 8.10.3 Research & Development Expenses
- 8.10.4 Recent strategies and developments:
  - 8.10.4.1 Partnerships, Collaborations, and Agreements:
  - 8.10.4.2 Product Launches and Product Expansions:
- 8.10.5 SWOT Analysis

LIST OF TABLES

TABLE 1 North America PV Inverter Market, 2019 - 2022, USD Million
TABLE 2 North America PV Inverter Market, 2023 - 2030, USD Million
TABLE 3 North America PV Inverter Market, 2019 - 2022, Thousand Units
TABLE 4 North America PV Inverter Market, 2023 - 2030, Thousand Units
TABLE 5 Partnerships, Collaborations and Agreements- PV InverterMarket
TABLE 6 Product Launch And Product Expansions- PV InverterMarket
TABLE 7 Mergers & Acquisition- PV InverterMarket
TABLE 8 Geographical Expansions- PV InverterMarket
TABLE 9 North America PV Inverter Market, by Product, 2019 - 2022, USD Million
TABLE 10 North America PV Inverter Market, by Product, 2023 - 2030, USD Million
TABLE 11 North America PV Inverter Market, by Product, 2019 - 2022, Thousand Units
TABLE 12 North America PV Inverter Market, by Product, 2023 - 2030, Thousand Units
TABLE 13 North America String PV Inverter Market, by Country, 2019 - 2022, USD Million
TABLE 14 North America String PV Inverter Market, by Country, 2023 - 2030, USD Million
TABLE 15 North America String PV Inverter Market, by Country, 2019 - 2022, Thousand Units
TABLE 16 North America String PV Inverter Market, by Country, 2023 - 2030, Thousand Units
TABLE 17 North America Central PV Inverter Market, by Country, 2019 - 2022, USD Million
TABLE 18 North America Central PV Inverter Market, by Country, 2023 - 2030, USD Million
TABLE 19 North America Central PV Inverter Market, by Country, 2019 - 2022, Thousand Units
TABLE 20 North America Central PV Inverter Market, by Country, 2023 - 2030, Thousand Units
TABLE 21 North America Micro PV Inverter Market, by Country, 2019 - 2022, USD Million
TABLE 22 North America Micro PV Inverter Market, by Country, 2023 - 2030, USD Million
TABLE 23 North America Micro PV Inverter Market, by Country, 2019 - 2022, Thousand Units
TABLE 24 North America Micro PV Inverter Market, by Country, 2023 - 2030, Thousand Units
TABLE 25 North America Other PV Inverter Market, by Country, 2019 - 2022, USD Million
TABLE 26 North America Other PV Inverter Market, by Country, 2023 - 2030, USD Million
TABLE 27 North America Other PV Inverter Market, by Country, 2019 - 2022, Thousand Units
TABLE 28 North America Other PV Inverter Market, by Country, 2023 - 2030, Thousand Units
TABLE 29 North America PV Inverter Market, by End-use, 2019 - 2022, USD Million
TABLE 30 North America PV Inverter Market, by End-use, 2023 - 2030, USD Million
TABLE 31 North America PV Inverter Market, by End-use, 2019 - 2022, Thousand Units
TABLE 32 North America PV Inverter Market, by End-use, 2023 - 2030, Thousand Units
TABLE 33 North America Utilities Market, by Country, 2019 - 2022, USD Million
TABLE 34 North America Utilities Market, by Country, 2023 - 2030, USD Million
TABLE 35 North America Utilities Market, by Country, 2019 - 2022, Thousand Units
TABLE 36 North America Utilities Market, by Country, 2023 - 2030, Thousand Units
TABLE 37 North America Commercial & Industrial Market, by Country, 2019 - 2022, USD Million
TABLE 38 North America Commercial & Industrial Market, by Country, 2023 - 2030, USD Million
TABLE 39 North America Commercial & Industrial Market, by Country, 2019 - 2022, Thousand Units
TABLE 40 North America Commercial & Industrial Market, by Country, 2023 - 2030, Thousand Units
TABLE 41 North America Residential Market, by Country, 2019 - 2022, USD Million
TABLE 42 North America Residential Market, by Country, 2023 - 2030, USD Million
TABLE 43 North America Residential Market, by Country, 2019 - 2022, Thousand Units
TABLE 44 North America Residential Market, by Country, 2023 - 2030, Thousand Units
TABLE 45 North America PV Inverter Market, by Country, 2019 - 2022, USD Million
TABLE 46 North America PV Inverter Market, by Country, 2023 - 2030, USD Million
TABLE 47 North America PV Inverter Market, by Country, 2019 - 2022, Thousand Units
TABLE 48 North America PV Inverter Market, by Country, 2023 - 2030, Thousand Units
TABLE 49 US PV Inverter Market, 2019 - 2022, USD Million
TABLE 50 US PV Inverter Market, 2023 - 2030, USD Million
TABLE 51 US PV Inverter Market, 2019 - 2022, Thousand Units
TABLE 52 US PV Inverter Market, 2023 - 2030, Thousand Units
TABLE 53 US PV Inverter Market, by Product, 2019 - 2022, USD Million
TABLE 54 US PV Inverter Market, by Product, 2023 - 2030, USD Million
TABLE 55 US PV Inverter Market, by Product, 2019 - 2022, Thousand Units
TABLE 56 US PV Inverter Market, by Product, 2023 - 2030, Thousand Units
TABLE 57 US PV Inverter Market, by End-use, 2019 - 2022, USD Million
TABLE 58 US PV Inverter Market, by End-use, 2023 - 2030, USD Million
TABLE 59 US PV Inverter Market, by End-use, 2019 - 2022, Thousand Units
TABLE 60 US PV Inverter Market, by End-use, 2023 - 2030, Thousand Units
TABLE 61 Canada PV Inverter Market, 2019 - 2022, USD Million
TABLE 62 Canada PV Inverter Market, 2023 - 2030, USD Million
TABLE 63 Canada PV Inverter Market, 2019 - 2022, Thousand Units
TABLE 64 Canada PV Inverter Market, 2023 - 2030, Thousand Units
TABLE 65 Canada PV Inverter Market, by Product, 2019 - 2022, USD Million
TABLE 66 Canada PV Inverter Market, by Product, 2023 - 2030, USD Million
TABLE 67 Canada PV Inverter Market, by Product, 2019 - 2022, Thousand Units
TABLE 68 Canada PV Inverter Market, by Product, 2023 - 2030, Thousand Units
TABLE 69 Canada PV Inverter Market, by End-use, 2019 - 2022, USD Million
TABLE 70 Canada PV Inverter Market, by End-use, 2023 - 2030, USD Million
TABLE 71 Canada PV Inverter Market, by End-use, 2019 - 2022, Thousand Units
TABLE 72 Canada PV Inverter Market, by End-use, 2023 - 2030, Thousand Units
TABLE 73 Mexico PV Inverter Market, 2019 - 2022, USD Million
TABLE 74 Mexico PV Inverter Market, 2023 - 2030, USD Million
TABLE 75 Mexico PV Inverter Market, 2019 - 2022, Thousand Units
TABLE 76 Mexico PV Inverter Market, 2023 - 2030, Thousand Units
TABLE 77 Mexico PV Inverter Market, by Product, 2019 - 2022, USD Million
TABLE 78 Mexico PV Inverter Market, by Product, 2023 - 2030, USD Million
TABLE 79 Mexico PV Inverter Market, by Product, 2019 - 2022, Thousand Units
TABLE 80 Mexico PV Inverter Market, by Product, 2023 - 2030, Thousand Units
TABLE 81 Mexico PV Inverter Market, by End-use, 2019 - 2022, USD Million
TABLE 82 Mexico PV Inverter Market, by End-use, 2023 - 2030, USD Million
TABLE 83 Mexico PV Inverter Market, by End-use, 2019 - 2022, Thousand Units
TABLE 84 Mexico PV Inverter Market, by End-use, 2023 - 2030, Thousand Units
TABLE 85 Rest of North America PV Inverter Market, 2019 - 2022, USD Million
TABLE 86 Rest of North America PV Inverter Market, 2023 - 2030, USD Million
TABLE 87 Rest of North America PV Inverter Market, 2019 - 2022, Thousand Units
TABLE 88 Rest of North America PV Inverter Market, 2023 - 2030, Thousand Units
TABLE 89 Rest of North America PV Inverter Market, by Product, 2019 - 2022, USD Million
TABLE 90 Rest of North America PV Inverter Market, by Product, 2023 - 2030, USD Million
TABLE 91 Rest of North America PV Inverter Market, by Product, 2019 - 2022, Thousand Units
TABLE 92 Rest of North America PV Inverter Market, by Product, 2023 - 2030, Thousand Units
TABLE 93 Rest of North America PV Inverter Market, by End-use, 2019 - 2022, USD Million
TABLE 94 Rest of North America PV Inverter Market, by End-use, 2023 - 2030, USD Million
TABLE 95 Rest of North America PV Inverter Market, by End-use, 2019 - 2022, Thousand Units
TABLE 96 Rest of North America PV Inverter Market, by End-use, 2023 - 2030, Thousand Units
TABLE 97 Key Information - Delta Electronics, Inc.
TABLE 98 Key Information - Eaton Corporation PLC
TABLE 99 Key Information - Emerson Electric Co.
TABLE 100 Key Information - Fimer Group
TABLE 101 Key Information - Hitachi, Ltd.
TABLE 102 Key Information - Omron Corporation
TABLE 103 Key Information - Power Electronics Espana, S.L.U.
TABLE 104 Key Information - Siemens Energy AG
TABLE 105 Key Information - SMA Solar Technology AG
TABLE 106 Key Information - SunPower Corporation

North America PV Inverter Market Size, Share & Industry Trends Analysis Report By Product (String PV Inverter, Central PV Inverter, Micro PV Inverter, and Other PV Inverter), By End-use, By Country and Growth Forecast, 2023 - 2030