Global Grid-Tied Inverters Market Size, Share, Growth Analysis, By Type(Low frequency transformer coupling, and High frequency transformer coupling), By Application(Residential, Commercial)

Description

Global Grid-Tied Inverters Market size was valued at USD 5.08 billion in 2022 and is poised to grow from USD 5.46 billion in 2023 to USD 9.66 billion by 2031, growing at a CAGR of 7.40% during the forecast period (2024-2031).

The global market for grid-tied inverters, crucial components of solar energy systems converting DC power into AC power compatible with the grid, has seen steady growth propelled by increasing demand for renewable energy like solar power. Expected to persist in its expansion due to escalating investments in renewables by nations and corporations, the market ensures solar-generated electricity seamlessly integrates into the grid for consumer use. Driven by renewable energy demand, governmental incentives, and regulations, the market also explores new avenues like energy storage systems and electric vehicle charging stations. Despite facing challenges, it offers fertile ground for innovation and growth as the world progresses towards a sustainable energy future.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Grid-Tied Inverters Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Grid-Tied Inverters Market Segmental Analysis

The global Grid-Tied Inverters Market is segmented on the product, application and region. By Type, the market is segmented into Low frequency transformer coupling, High frequency transformer coupling. By application, the market is segmented into Residential, Commercial, Industrial, Others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Grid-Tied Inverters Market

The burgeoning interest in renewable energy, exemplified by solar and wind power, is fueling the expansion of the grid-tied inverters market. These inverters play a crucial role in solar power systems, facilitating the conversion of DC power from solar panels into usable AC power for various applications in homes, businesses, and beyond.

Restraints in the Global Grid-Tied Inverters Market

The substantial initial investment needed for setting up a solar power system, encompassing grid-tied inverters, poses a considerable obstacle to the expansion of the grid-tied inverters market. The elevated upfront expenses may present challenges for both consumers and businesses in rationalizing the investment, especially in areas where energy costs are relatively low.

Market Trends of the Global Grid-Tied Inverters Market

The grid-tied inverters market is undergoing notable technological progress, marked by the emergence of more efficient inverters and innovative variations like microinverters and power optimizers. These advancements are facilitating the incorporation of solar power systems into diverse applications while simultaneously driving down the overall expenses associated with solar power installations.

Product Code: SQMIG20D2158

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Grid-Tied Inverters Market by Type

Market Overview
Low frequency transformer coupling
and High frequency transformer coupling

Global Grid-Tied Inverters Market by Application

Market Overview
Residential
Commercial
Industrial
and Others

Global Grid-Tied Inverters Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021

Key Company Profiles

ABB (Switzerland)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
SMA Solar Technology (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Huawei Technologies (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
TMEIC (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
SolarEdge Technologies (Israel)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Fronius International GmbH (Austria)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Sungrow Power Supply Co., Ltd. (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Enphase Energy, Inc. (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
KACO new energy GmbH (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Delta Electronics, Inc. (Taiwan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Ginlong Technologies (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Schneider Electric SE (France)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Chint Power Systems Co., Ltd. (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Growatt New Energy Technology Co., Ltd. (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
GoodWe Power Supply Technology Co., Ltd. (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Omron Corporation (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
CyberPower Systems, Inc. (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Darfon Electronics Corp. (Taiwan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
SatCon Technology Corporation (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Power Electronics EspaA+-a S.L. (Spain)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Grid-Tied Inverters Market Size, Share, Growth Analysis, By Type(Low frequency transformer coupling, and High frequency transformer coupling), By Application(Residential, Commercial) - Industry Forecast 2024-2031