Utility Scale PV Inverter Market Report: Trends, Forecast and Competitive Analysis to 2030

Utility Scale PV Inverter Trends and Forecast

The future of the global utility scale PV inverter market looks promising with opportunities in the < 1500 voltage and ≥ 1500 voltage markets. The global utility scale PV inverter market is expected to grow with a CAGR of 8.9% from 2024 to 2030. The major drivers for this market are increasing desire for decentralized energy solutions, growing need for sustainable power generation, and rising allocation of private and public funding for electrification intiatives in off-grid andgrid-isolated areas in the emerging countries.

A more than 150-page report is developed to help in your business decisions.

Utility Scale PV Inverter by Segment

The study includes a forecast for the global utility scale PV inverter by product, voltage, and region.

Utility Scale PV Inverter Market by Product [Shipment Analysis by Value from 2018 to 2030]:

• String
• Central

Utility Scale PV Inverter Market by Voltage [Shipment Analysis by Value from 2018 to 2030]:

• < 1500 Voltage
• ≥ 1500 Voltage

Utility Scale PV Inverter Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Utility Scale PV Inverter Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies utility scale PV inverter companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the utility scale PV inverter companies profiled in this report include-

• Sma Solar Technology
• Sungrow
• Growatt New Energy
• Darfon Electronics
• Schneider Electric
• Siemens
• Fimer
• Eaton
• Solaredge Technologies
• Huawei Technologies

Utility Scale PV Inverter Market Insights

Lucintel forecasts that central will remain the largest segment over the forecast period due to increasing focus on distributed power generation technologies along with expansion of sustainable energy systems.

Within this market, < 1500 voltage is expected to witness higher growth over the forecast period due to growing awarenss towards low co2-emission product usage.

APAC is expected to witness highest growth over the forecast period due to supportive policy changes and rising capital investments in sustainable energy.

Features of the Global Utility Scale PV Inverter Market

Market Size Estimates: Utility scale PV inverter market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Utility scale PV inverter market size by product, voltage, and region in terms of value ($B).

Regional Analysis: Utility scale PV inverter market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different products, voltage, and regions for the utility scale PV inverter market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the utility scale PV inverter market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the growth forecast for utility scale PV inverter market?

Answer: The global utility scale PV inverter market is expected to grow with a CAGR of 8.9% from 2024 to 2030.

Q2. What are the major drivers influencing the growth of the utility scale PV inverter market?

Answer: The major drivers for this market are increasing desire for decentralized energy solutions, growing need for sustainable power generation, and rising allocation of private and public funding for electrification intiatives in off-grid andgrid-isolated areas in the emerging countries.

Q3. What are the major segments for utility scale PV inverter market?

Answer: The future of the utility scale PV inverter market looks promising with opportunities in the < 1500 voltage and ≥ 1500 voltage markets.

Q4. Who are the key utility scale PV inverter market companies?

Answer: Some of the key utility scale PV inverter companies are as follows:

• Sma Solar Technology
• Sungrow
• Growatt New Energy
• Darfon Electronics
• Schneider Electric
• Siemens
• Fimer
• Eaton
• Solaredge Technologies
• Huawei Technologies

Q5. Which utility scale PV inverter market segment will be the largest in future?

Answer: Lucintel forecasts that central will remain the largest segment over the forecast period due to increasing focus on distributed power generation technologies along with expansion of sustainable energy systems.

Q6. In utility scale PV inverter market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to supportive policy changes and rising capital investments in sustainable energy.

Q7. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the utility scale PV inverter market by product (string and central), voltage (< 1500 voltage and ≥ 1500 voltage), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?