Global PV Inverters Market Industry Analysis and Forecast (2019-2026) by Product, End-Use, and Reg
Global PV Inverters Market was valued US$ 8.6 Bn in 2018 and is expected to reach US$ 12.1 Bn by 2026, at CAGR of 4.36% during forecast period.
The increasing demand for renewable energy systems like PV inverters because of high powerconsumption is driving the market of PV inverters. The global demand of solar inverters hasbeen growing robustly over the last few years. A key factor catalyzing this demand is theincreasing environmental concerns regarding greenhouse releases and the importance of solarand other renewable energy sources to reduce these emissions.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Additionally, the rising cost of fossil fuels is also making solar power a more economical energysource. However, use of substitute for instance hydropower energy system, because of the highefficiency of electricity generation, restrain the market growth.
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Based on product, central PV inverter segment is expected to register a major revenue share inthe PV inverters market globally. These equipment are largely designed for large arrays ofpanels installed on industrial facilities, buildings, and field installations. The product is usually
located in a protected environment and receives DC power from all solar panels....