A photovoltaic (PV) inverter, also known as solar inverter is a device that converts the variable direct current (DC) output of a PV panel into alternating current (AC) frequency. This frequency can directly used by off-grid and local electrical network or can be fed into a commercial network. PV inverter is significant element in a photovoltaic system, allowing direct use of commercial appliances. These inverters have special functions that allow them to use with photovoltaic arrays, having functions such as anti-islanding protection and maximum power point tracking.
There are various design modifications in PV inverters such as Stand-alone inverters, Grid-tie inverters and Battery backup inverters. Each design varies according to area of its application. However, special elements such as solar charge controller may incorporate in to the inverter system. One of the major driving factors for this market is growing solar photovoltaic industry. Additionally, the growing demand for energy coupled with regulatory framework that supports clean energy are also driving the market for PV inverters market. However, substitute clean energy technologies such as hydropower are holding back the market in some regions. With the technological development in solar photovoltaic market, PV inverter market is expected to face boom in demand.
OMRON Corporation, Danfoss, Enphase Energy, Fronius International GmbH, AEO Management Co., KACO new energy, Power-One Inc. and SMA SOLAR TECHNOLOGY AG are some of the key manufacturers in this market.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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