Lewes, DE -- (SBWire) -- 09/28/2015 --Report forecast the global solar PV inverter market to grow at a CAGR of 14.86% in terms of revenue and 21.53% in terms of annual installed capacity over the period 2014-2019.
A PV inverter is a device that converts direct current from solar panels into alternate current of the required frequency, which is then supplied to the electric grid. This device uses the maximum power point tracking (MPPT) technique to extract the maximum amount of power from an array of solar panels. Though it functions just as a simple converter, a PV inverter is the most essential part of a solar power plant.
Solar PV inverters are essential component of the solar PV systems and account for 10-15% of the overall cost. Solar inverter technologies are being rapidly developed and more sophisticated features such as remote monitoring and optimization are being integrated into the inverters. Factors such as quality, reliability, and efficiency are important purchase parameters of the inverters.
The report includes the present scenario and the growth prospects of global solar PV inverter market for the period 2015-2019. The market can be segmented into three divisions: technology, application, and geography.
Global Solar PV Inverter Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report includes a discussion of the key vendors operating in this market.
According to the report, the availability of PV inverters that are integrated with energy storage devices has increased considerably. This has helped address the increased need for efficient load management among industries in the renewable energy sector because energy storage devices ensure continued power supply in grids and minimize interruptions. As a result, load management has become more effective, increasing the reliability of power grids.
Key regions
- Americas
- APAC
- EMEA
Key players in the Global Solar PV Inverter Market: ABB, OMRON, SMA, Sungrow and TMEIC
Other Prominent Vendors in the market are: Bonfiglioli Riduttori, Danfoss Solar Inverter, Eaton, Emerson, Enphase Energy, Fronius International, GE, Jiangsu Zeversolar New Energy, Mitsubishi, Proniso, REFUsol, Riello, Siemens, TDK, and Toshiba.
Market driver
- Growth in global PV installations and increase in solar energy consumption
- For a full, detailed list, view our report
Market challenge
- Seasonal fluctuation of solar power availability
- For a full, detailed list, view our report
Market trend
- Increased need to reduce carbon emissions
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 100 pages "Global Solar PV Inverter Market: Research Scope 2015-2019" report covers Executive Summary, Scope of the Report, Market Research Methodology, Introduction, Market landscape, Market segmentation by technology, Market segmentation by application, Geographical segmentation, Key leading countries, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.
For further information on this report, please visit- http://www.marketresearchreports.com/technavio/global-solar-pv-inverter-market-research-scope-2015-2019
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