Published on : Jun 05, 2017
Albany, New York, June 05, 2017: The report examines different facets of the solar hybrid invertor market and uncovers that it will expand at a CAGR of 9.05% from 2017 to 2021. Solar hybrid inverters serve two main functions – they convert direct current to alternate current and store excess power along with batteries. They help solve issues pertaining to renewable energy variability and unreliable grid structures. The report presents a comparison of the different technologies used in solar panels.
As per the report, government efforts to curb the use of highly polluting fossil fuels in generating electricity and simultaneously promoting cleaner energy such as solar energy is one of the main factors fuelling growth in the global solar hybrid invertor market. Moreover, additional financial aids provided by the government for the deployment of alternative sources of energy such as solar panels will also boost the growth of the solar hybrid inverter market.
Providing headwinds to the market, however, is the technical problems pertaining to solar PV components. Prominent trends in the market are swift uptake of hybrid power systems in telecom towers and installation of microgrids. Yet another game changing trend is the rapid technological progress leading to product innovations. This is expected to heat up the competition in the market in the foreseeable future.
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In order to study the global market for solar hybrid invertor market, the report segments it based on end users into residential and commercial sectors. Between the two, the commercial segment holds a dominant share in the market owing to strict government norms promoting the use of energy management systems (EMS) and inverters with solar PV panels.
Based on geography again, the report segments the market into the Americas, Asia Pacific, and Europe, Middle East and Africa. It studies the renewable targets and policies in the different regions. It finds Asia Pacific accounts for maximum share in the market because of the increasing environmental concerns, the growing demand for energy, a burgeoning population, and the better standards of living.
In order to assess the competition prevailing in the global solar hybrid invertor market, the report leverages market-leading analytical tools such as Porter’s Five Forces analysis that studies the supplier power, buyer power, competitive rivalry, threat of substitution, and threat of new entry. At present the solar hybrid inverter market is in a nascent stage comprising of a handful of vendors. Realizing an opportunity, however, new players are foraying into the market and this will likely intensify competition in the near future.
The report profiles major players in the global solar hybrid inverter market. They are Flin Energy, Delta Energy Systems, Su-Kam Power Systems, Luminous India, Schneider Electric, EAST Group, and Microtek Inverters.
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