The global Renewable Energy Inverters market was valued at $928.0 Billion in 2017, and is expected to reach $1,512.3 Billion by 2025, registering a CAGR of +6.1% from 2018 to 2025.
The growing awareness of the use of renewable energy sources worldwide that have led to the large-scale adoption of photovoltaic (PV) solar installations. The increasing affordability of energy storage devices creates ample opportunities for the market. In addition, the Government also sets goals and introduces policies to promote renewable energy and to reduce carbon emissions. The growing awareness about fossil fuel conservation and the demand for clean fuels will complement the growth of the industry. However, the market also faces certain challenges, such as the high cost of the solar inverter and the high maintenance cost, among others. Despite the challenges, there have been certain market trends that have boosted market growth for the solar inverter market, such as the source of energy in remote areas and that also act as solar energy storage.
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Renewable energy has become predominantly a feasible alternative since civilization is at a critical juncture where the world is on a cusp of embracing clean energy on a scale never seen before. In the current scenario, it costs less to build a new solar or wind plant than to continue with a natural gas or coal plant. Solar energy has gained popularity in a very short time. It generates electricity without pollution, without volatility in the price of fuel and without fuel costs. In addition, the sustainability potential of leading the world to affordable, reliable and cleaner sources of electricity is also a significant growth parameter. Such factors have resulted in an increase in photovoltaic installations and have directly affected the demand for photovoltaic inverters.
The Renewable Energy Inverters market analysis covers in-depth information of major industry participants. Some of the major players in the market include ABB Ltd., General Electric (GE), The Tata Power Company Limited (Tata Power), Innergex, Enel Spa (Enel), Xcel Energy Inc. (Xcel Energy), EDF, Geronimo Energy, Invenergy, and ACCIONA.
By End Use
- Hydroelectric Power
- Wind Power Energy
- Solar Energy
- Geothermal Energy
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Table of content
Chapter 1 Global Renewable Energy Inverters
Chapter 2 Global Economic Impact on Renewable Energy Inverters
Chapter 3 Global Renewable Energy Inverters
Market Competition by Manufacturers
Chapter 4 Global Renewable Energy Inverters
Production, Revenue (Value) by Region (2012-2018)
Chapter 5 Global Renewable Energy Inverters
Supply (Production), Consumption, Export, Import by Regions (2012-2018)
Chapter 6 Global Renewable Energy Inverters
Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Renewable Energy Inverters
Market Analysis by Application
Chapter 8 Renewable Energy Inverters
Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
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