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Residential Solar PV Inverter Market Outlook (2023 to 2033)

The global residential solar PV inverter market is poised to increase at a consistent CAGR of 5.2%. The market is projected to reach US$ 6,566.3 million by 2033 from US$ 3,955.1 million in 2023.

Central PV inverters are predicted to increase significantly throughout the projection period due to various advantages over other inverters. Such as relatively affordable price range, dependability, etc.

Central PV inverters are highly efficient, and they work well with various PV off-grid inverters in fluctuation management, balancing, and so on. These inverters are well-suited for big commercial and industrial systems. The manufacturers of solar PV inverters often struggle since they include their storage area, exhaust system, and other components.

Central PV inverters are contained in protective enclosures, which reduces the chance of failure due to exposure to a hostile environment. However, the central PV inverters market has a few drawbacks that may limit their expansion relative to other types of inverters, although the situation is projected to improve shortly.

The residential solar PV inverter market is shifting away from traditional inverters and toward string inverters. This trend is prominently seen in the increasing number of project planners and developers considering string inverters with a central architectural design. This is referred to as the virtual central inverter idea by Sungrow. It combines 1,500-volt string inverters with control typically associated with central PV inverters.

For example, in January 2022, Sungrow announced the debut of a new 1+X central modular inverter with a 1.1 MW output that is compatible with energy storage systems. The 1+X modular inverter may be stacked to provide 8.8 MW of power and includes a DC/ESS interface for connecting energy storage devices.

Attributes Details
Residential Solar PV Inverter Industry CAGR (2023 to 2033) 5.2%
Residential Solar PV Inverter Industry Size (2023) US$ 3,955.1 million
Residential Solar PV Inverter Market Size (2033) US$ 6,566.3 million
Residential Solar PV Inverter Industry Attraction Cost-effective, reliability, and durability

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FMI Discovers Market Propellers for Residential Solar PV Inverter

  • A large inflow of investments in the renewable energy industry
  • An increase in favorable government initiatives
  • An increase in residential solar rooftop installations

Solar PV inverter demand has been steadily increasing over the last few years. The growing environmental concerns about greenhouse emissions and the relevance of solar and other renewable energy sources in reducing these emissions.

As the cost of fossil fuels rises, solar electricity becomes a more cost-effective energy source. In addition, solar PV inverter costs have decreased in recent years, making them more accessible to the general public. As a result, there has been a significant increase in the installation of solar power systems in both established and developing countries across the world.

Other factors propelling the residential solar PV inverter industry include the demand for rural electrification, technical improvements, rising government backing, and increased renewable energy investments.

What are the Constraints Faced by Players in the Residential Solar PV Inverter?

The increased demand for solar equipment has put a lot of strain on testing companies. Like Underwriters Laboratories, to ensure solar PV inverter security and keep up with technological advancements. However, residential solar PV inverter market development has been hampered by a lack of awareness. Moreover, the high cost of infrastructural improvements and recent government payment reductions on solar panels in the Asia Pacific area.

The lack of auxiliary technologies is a crucial impediment to market expansion. Nonetheless, increased environmental concerns about energy generation from traditional sources. Such as coal and natural gas are expected to provide an opportunity for the solar PV inverter industry.

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Which Emerging Trends are Propelling the Residential Solar PV Inverter?

Expanding the deployment of solar PV inverters to strengthen the microgrid network. Additionally, phasing out conventional storage technologies is anticipated to energize the business dynamics. Significant modifications and enhancements to current procedures, along with cost-competitiveness, are projected to have a beneficial effect on industry dynamics.

Residential solar PV inverter solutions account for two-thirds of the industry's distributed photovoltaic capacity. This can be attributed to the widespread acceptance of renewable energy sources in the housing sector and the growth of net metering schemes.

Smart communication ensures network dependability in conjunction with an equilibrium of electrical demand and supply. Smart communication is projected to stimulate residential solar PV inverter adoption.

Increasing regulatory concerns about the effectiveness of grid-tied solar installations are expected to encourage the adoption of string-based household solar PV inverter systems.

Following paradigm changes are likely to continue to affect the corporate landscape:

  • Effective manufacturing accuracy
  • New product innovations
  • Optimization
  • Standardization of production processes for environmental compatibility
  • Power production
  • Cheap installation costs

Comparative Study: Market Investigation of Adjacent Markets

Residential Solar PV Inverter Market:

Attributes Residential Solar PV Inverter Market
CAGR (2023 to 2033) 5.2%
Market Value (2033) US$ 6,566.3 million
Growth Factor Technological advancements, changing regulatory and consumer proximity, and the deployment of efficient inverter units.
Opportunity Increased deployment of solar PV modules to enhance the microgrid network, as well as the replacement of traditional storage technology.
Key Trends Faster installation, improved communication, lower transportation costs, and improved efficiency and reliability associated with new product launches.

Solar PV Module Market:

Attributes Solar PV Module Market
CAGR (2023 to 2033) 7%
Market Value (2033) US$ 318.76 billion
Growth Factor Government schemes and incentives, such as auctions, tariffs, and tax exemptions, are expected to benefit the solar PV module market.
Opportunity Widespread resource availability and cost-competitiveness, as well as growing industry potential.
Key Trends Recent technological advancements and research and development activities in large-scale solar applications for efficient power output.

Solar PV Glass Market:

Attributes Solar PV Glass Market
CAGR (2023 to 2033) 27.5%
Market Value (2033) US$ 229,852.73 million
Growth Factor Strict policies and regulations relating to clean energy adoption, as well as laws limiting greenhouse gas emissions, are pushing product sales.
Opportunity Increasing investments to explore developing countries' untapped photovoltaic potential.
Key Trends Due to the United States Investment Tax Credit (ITC) policy, the levelized cost of new PV plants has decreased significantly in recent years, boosting the installation of solar PV systems.

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2018 to 2022 Residential Solar PV Inverter Market Outlook Compared to 2023 to 2033 Forecast

Historical Figures Vs Forecast Figures

2018 US$ 3,158.71 million
2023 US$ 3,955.1 million
2022 US$ 3,781.2 million
2033 US$ 6,566.3 million

As per FMI estimates, the market is projected to showcase a 5.2% CAGR between 2023 and 2033. In the historical period, the market grew at 4.6% CAGR.

The demand for renewable energy is going up because more people are using electricity, and the cost of making renewable energy is going down. This is going to help in the solar PV inverter market growth during the forecast period. The cost of making renewable energy has gone down a lot in recent years, so it is now a good option for people who need more electricity.

Due to favorable government programs, the market for solar PV inverters is projected to grow. People around the world are working to improve the quality of their lives by building more infrastructure in their countries. The government of the United Arab Emirates, for example, focuses a lot on the Smart Dubai project. This project aims to make Dubai the world's smartest city. Such booming construction activities are expected to elevate the solar PV inverter market.

Solar PV inverters are pushed even more by the rise in greenhouse gas emissions and environmental problems. The solar PV inverter market is expected to grow as more people learn about global warming.

Many companies in the solar PV inverter market are getting into artificial intelligence and machine learning, as well as other smart-energy fields. This, in turn, is expected to help the solar PV inverter market expand further.

People are increasingly using solar energy to power their homes, appliances, and other things. Due to this, the residential section of the solar PV inverter market is expected to grow a lot over the next few years. Increasing the use of renewable energy sources and enforcing efficient energy use rules are projected to help the business thrive.

The global and domestic participants in the industry have had a big impact on the way the industry works. It is projected to be easier for people to use the product if there are more regulations and people want to use a more efficient PV system inverter. The cost of solar panels is projected to go down because more parts can be made, and primitive technology is being used to make them more efficient.

Year Market Size
2025 US$ 4,377.12 million
2028 US$ 5,096.08 million
2033 US$ 6,566.3 million

Segment-wise Analysis

Category Type
Top Segment Micro-inverter
Market Share (2023) 43%
Category Application
Top Segment Three Phase
Market Share (2023) 59%

Three-phase Segment to Account for Sizeable Market Share

Segment Three Phase
Market Share (2023) 59%
Market Size (2023) US$ 2,333.51 million
Market Size (2033) US$ 3,874.12 million

The three-phase sector has the prominent revenue share and is expected to continue dominating over the forecast period. This rise is related to the electricity generating, distribution, and transmission sectors.

Large commercial & industrial, and utility PV power plants have grown in scale. This can be credited to the increasing preference for 1,000-volt to 1,500-volt solar arrays. Thus, supporting the three-phase solar PV inverters market growth throughout the projection period.

Which Type of Residential Solar PV Inverter is Highly Preferred?

Segment Micro-inverter
Market Share (2023) 43%
Market Size (2023) US$ 1,700.69 million
Market Size (2033) US$ 2,823.50 million

The micro-inverter segment dominated the market by product type, and this dominance is projected to continue. The segment is projected to acquire a total of 43% over the forecast period. Micro-inverters are compact and portable, containing core elements of central inverters. Due to their high performance and compact size, micro-inverters are increasingly used in diverse applications.

From 2023 to 2033, significant industrialization and renewable energy infrastructure expansion is projected to be witnessed. This is projected to considerably take place in rising nations like China, India, Japan, and others, thus driving the demand for micro-inverters.

Regional Insights: Micro-level Data-packed Insights

Market Evaluation: Computed Residential Solar PV Inverter Market Share and Size

Country The United States
Value Share (2023) 23%
Market Size (2023) US$ 909.67 million
Market Size (2033) US$ 1,510.25 million
Country Germany
Value Share (2023) 3.6%
Market Size (2023) US$ 142.38 million
Market Size (2033) US$ 236.39 million
Country Japan
Value Share (2023) 5.8%
Market Size (2023) US$ 229.39 million
Market Size (2033) US$ 380.8 million
Country Australia
Value Share (2023) 1.5%
Market Size (2023) US$ 59.33 million
Market Size (2033) US$ 98.49 million

Country-wise CAGR for Residential Solar PV Inverter Market Forecast

Country Forecast CAGR (2023 to 2033)
China 6.4%
India 6.9%
The United Kingdom 3.5%

The Asia Pacific captured a significant revenue share of the solar PV inverters market in 2022 and is expected to observe increasing sales during the forecast period. This is due to the region's existence of significant players and a sizable customer base.

Factors expected to fuel the residential solar PV inverter industry growth in the future years:

  • Development in the renewable energy sector
  • Increased investment in upgrading aging power infrastructure
  • Fast industrialization in the area

How Competitive is the Residential Solar PV Inverter Market?

The global market is fragmented. ABB Ltd, Schneider Electric SE, Siemens AG, Mitsubishi Electric Corporation, and Omron Corporation are the market's leading companies. Some recent market developments in the residential solar PV inverter industry include:

  • In March 2021, Fronius International GmbH introduced the GEN24 Plus, a revolutionary three-phase PV hybrid inverter from the Fronius Symo series. It provides a small and adaptable all-in-one solar energy supply solution. The device is available in power levels ranging from 3 to 10 kW. Additionally, this is an excellent PV hybrid inverter for single-family homes.
  • Sungrow Power Supply Co. Ltd released centralized inverters (model SG3125HV) and string inverters in February 2021. The investors that have been introduced are entirely compatible with 210 ultra-high power modules.
  • Tesla announced the development of a proprietary solar inverter in January 2021. Tesla solar inverters are available in 3.8 kW and 7.6 kW configurations, with two and four maximum power point trackers, respectively (MPPTs).

How can Manufacturers Expand in the Residential Solar PV Inverter Market?

Over the long run, top players in the market are considering various tactics to ensure they grab a huge share of the entire market. These include contracts, inorganic growth ventures, and new product innovations. For instance, in March 2022, Delta introduced new solar inverter series for commercial and residential PV. This new in-series product can achieve an efficiency of 98.7%, in addition to the European efficiency rating of 98.5%. Its power spans from 15 to 20kW.

Suppliers of residential solar PV inverter solutions are also finding great opportunities in the Asia Pacific region. Owing to the large customer pool in the region, suppliers are considering scaling their businesses in developing countries. Increasing investment to change aged power infrastructure with modern is also pushing business growth.

Vendors can also take advantage of subsidies and favorable government policies in Europe. Due to these initiatives, consumers are investing in renewable sources. Additionally, companies can develop high-tech inverters to upscale their business over the forecast period.

Advertisement of clean energy sources to achieve a clean energy economy can also help businesses to increase their sales. This may help stimulate sales of the product among the discerning population.

Scope Of Residential Solar PV Inverter Market Report

Attribute Details
Forecast Period 2023 to 2033
Historical Data Available for 2018 to 2022
Market Analysis US$ million for Value
Key Countries Covered The United States, Canada, Mexico, Brazil, Peru, Argentina, Chile, Colombia, Rest of Latin America, Germany, Italy, France, the United Kingdom, Spain, India, GCC, South Africa, Japan, China, South Korea, etc.
Key Regions Covered North America, Latin America, the Asia Pacific, Europe, the Middle East, and Africa
Key Segments Covered Type, Application, and Region
Key Companies Profiled ABB Ltd, Schneider Electric SE, Siemens AG, Mitsubishi Electric Corporation, and Omron Corporation
Report Coverage Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization and Pricing Available upon Request

Key Segments

By Type:

  • String Inverter
  • Micro-Inverter

By Application:

  • Single Phase
  • Three Phase

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • The Middle East and Africa (MEA)

Frequently Asked Questions

How is the Market Adopting Sustainable Practices?

Manufacturers are producing energy-efficient inverters made of recyclable materials.

What are the Current Trends in the Residential Solar PV Inverter Market?

Growing integration of energy storage systems and smart and hybrid solar inverters.

Which Segment Leads the Residential Solar PV Inverter Market?

Grid-tied segment dominates the market for residential solar PV inverters.

What is the Market Cap of the Residential Solar PV Inverter Market?

The market is expected to be worth US$ 3,955.1 million by 2023.

What Regions are Thriving in the Residential Solar PV Inverter Market?

North America and Europe are leading in the market.

Table of Content

1. Executive Summary | Residential Solar PV Inverter Market

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Product Life Cycle Analysis

    3.5. Supply Chain Analysis

        3.5.1. Supply Side Participants and their Roles

            3.5.1.1. Producers

            3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)

            3.5.1.3. Wholesalers and Distributors

        3.5.2. Value Added and Value Created at Node in the Supply Chain

        3.5.3. List of Raw Material Suppliers

        3.5.4. List of Existing and Potential Buyer’s

    3.6. Investment Feasibility Matrix

    3.7. Value Chain Analysis

        3.7.1. Profit Margin Analysis

        3.7.2. Wholesalers and Distributors

        3.7.3. Retailers

    3.8. PESTLE and Porter’s Analysis

    3.9. Regulatory Landscape

        3.9.1. By Key Regions

        3.9.2. By Key Countries

    3.10. Regional Parent Market Outlook

    3.11. Production and Consumption Statistics

    3.12. Import and Export Statistics

4. Global Market Analysis 2018-2022 and Forecast, 2023 to 2033

    4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018-2022

    4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. Global Market Analysis 2018-2022 and Forecast 2023 to 2033, By Type

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Type, 2018-2022

    5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Type, 2023 to 2033

        5.3.1. String Inverter

        5.3.2. String Inverter

    5.4. Y-o-Y Growth Trend Analysis By Type, 2018-2022

    5.5. Absolute $ Opportunity Analysis By Type, 2023 to 2033

6. Global Market Analysis 2018-2022 and Forecast 2023 to 2033, By Application

    6.1. Introduction / Key Findings

    6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Application, 2018-2022

    6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Application, 2023 to 2033

        6.3.1. Single Phase

        6.3.2. Three Phase

    6.4. Y-o-Y Growth Trend Analysis By Application, 2018-2022

    6.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033

7. Global Market Analysis 2018-2022 and Forecast 2023 to 2033, By Region

    7.1. Introduction

    7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018-2022

    7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033

        7.3.1. North America

        7.3.2. Latin America

        7.3.3. Europe

        7.3.4. Asia Pacific

        7.3.5. MEA

    7.4. Market Attractiveness Analysis By Region

8. North America Market Analysis 2018-2022 and Forecast 2023 to 2033, By Country

    8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018-2022

    8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033

        8.2.1. By Country

            8.2.1.1. United States of America

            8.2.1.2. Canada

        8.2.2. By Type

        8.2.3. By Application

    8.3. Market Attractiveness Analysis

        8.3.1. By Country

        8.3.2. By Type

        8.3.3. By Application

    8.4. Key Takeaways

9. Latin America Market Analysis 2018-2022 and Forecast 2023 to 2033, By Country

    9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018-2022

    9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033

        9.2.1. By Country

            9.2.1.1. Brazil

            9.2.1.2. Mexico

            9.2.1.3. Rest of Latin America

        9.2.2. By Type

        9.2.3. By Application

    9.3. Market Attractiveness Analysis

        9.3.1. By Country

        9.3.2. By Type

        9.3.3. By Application

    9.4. Key Takeaways

10. Europe Market Analysis 2018-2022 and Forecast 2023 to 2033, By Country

    10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018-2022

    10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033

        10.2.1. By Country

            10.2.1.1. Germany

            10.2.1.2. United Kingdom

            10.2.1.3. France

            10.2.1.4. Spain

            10.2.1.5. Italy

            10.2.1.6. Rest of Europe

        10.2.2. By Type

        10.2.3. By Application

    10.3. Market Attractiveness Analysis

        10.3.1. By Country

        10.3.2. By Type

        10.3.3. By Application

    10.4. Key Takeaways

11. Asia Pacific Market Analysis 2018-2022 and Forecast 2023 to 2033, By Country

    11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018-2022

    11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033

        11.2.1. By Country

            11.2.1.1. China

            11.2.1.2. Japan

            11.2.1.3. South Korea

            11.2.1.4. Singapore

            11.2.1.5. Thailand

            11.2.1.6. Indonesia

            11.2.1.7. Australia

            11.2.1.8. New Zealand

            11.2.1.9. Rest of Asia Pacific

        11.2.2. By Type

        11.2.3. By Application

    11.3. Market Attractiveness Analysis

        11.3.1. By Country

        11.3.2. By Type

        11.3.3. By Application

    11.4. Key Takeaways

12. MEA Market Analysis 2018-2022 and Forecast 2023 to 2033, By Country

    12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018-2022

    12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033

        12.2.1. By Country

            12.2.1.1. GCC Countries

            12.2.1.2. South Africa

            12.2.1.3. Israel

            12.2.1.4. Rest of MEA

        12.2.2. By Type

        12.2.3. By Application

    12.3. Market Attractiveness Analysis

        12.3.1. By Country

        12.3.2. By Type

        12.3.3. By Application

    12.4. Key Takeaways

13. Key Countries Market Analysis

    13.1. United States of America

        13.1.1. Pricing Analysis

        13.1.2. Market Share Analysis, 2022

            13.1.2.1. By Type

            13.1.2.2. By Application

    13.2. Canada

        13.2.1. Pricing Analysis

        13.2.2. Market Share Analysis, 2022

            13.2.2.1. By Type

            13.2.2.2. By Application

    13.3. Brazil

        13.3.1. Pricing Analysis

        13.3.2. Market Share Analysis, 2022

            13.3.2.1. By Type

            13.3.2.2. By Application

    13.4. Mexico

        13.4.1. Pricing Analysis

        13.4.2. Market Share Analysis, 2022

            13.4.2.1. By Type

            13.4.2.2. By Application

    13.5. Germany

        13.5.1. Pricing Analysis

        13.5.2. Market Share Analysis, 2022

            13.5.2.1. By Type

            13.5.2.2. By Application

    13.6. United Kingdom

        13.6.1. Pricing Analysis

        13.6.2. Market Share Analysis, 2022

            13.6.2.1. By Type

            13.6.2.2. By Application

    13.7. France

        13.7.1. Pricing Analysis

        13.7.2. Market Share Analysis, 2022

            13.7.2.1. By Type

            13.7.2.2. By Application

    13.8. Spain

        13.8.1. Pricing Analysis

        13.8.2. Market Share Analysis, 2022

            13.8.2.1. By Type

            13.8.2.2. By Application

    13.9. Italy

        13.9.1. Pricing Analysis

        13.9.2. Market Share Analysis, 2022

            13.9.2.1. By Type

            13.9.2.2. By Application

    13.10. China

        13.10.1. Pricing Analysis

        13.10.2. Market Share Analysis, 2022

            13.10.2.1. By Type

            13.10.2.2. By Application

    13.11. Japan

        13.11.1. Pricing Analysis

        13.11.2. Market Share Analysis, 2022

            13.11.2.1. By Type

            13.11.2.2. By Application

    13.12. South Korea

        13.12.1. Pricing Analysis

        13.12.2. Market Share Analysis, 2022

            13.12.2.1. By Type

            13.12.2.2. By Application

    13.13. Singapore

        13.13.1. Pricing Analysis

        13.13.2. Market Share Analysis, 2022

            13.13.2.1. By Type

            13.13.2.2. By Application

    13.14. Thailand

        13.14.1. Pricing Analysis

        13.14.2. Market Share Analysis, 2022

            13.14.2.1. By Type

            13.14.2.2. By Application

    13.15. Indonesia

        13.15.1. Pricing Analysis

        13.15.2. Market Share Analysis, 2022

            13.15.2.1. By Type

            13.15.2.2. By Application

    13.16. Australia

        13.16.1. Pricing Analysis

        13.16.2. Market Share Analysis, 2022

            13.16.2.1. By Type

            13.16.2.2. By Application

    13.17. New Zealand

        13.17.1. Pricing Analysis

        13.17.2. Market Share Analysis, 2022

            13.17.2.1. By Type

            13.17.2.2. By Application

    13.18. GCC Countries

        13.18.1. Pricing Analysis

        13.18.2. Market Share Analysis, 2022

            13.18.2.1. By Type

            13.18.2.2. By Application

    13.19. South Africa

        13.19.1. Pricing Analysis

        13.19.2. Market Share Analysis, 2022

            13.19.2.1. By Type

            13.19.2.2. By Application

    13.20. Israel

        13.20.1. Pricing Analysis

        13.20.2. Market Share Analysis, 2022

            13.20.2.1. By Type

            13.20.2.2. By Application

14. Market Structure Analysis

    14.1. Competition Dashboard

    14.2. Competition Benchmarking

    14.3. Market Share Analysis of Top Players

        14.3.1. By Regional

        14.3.2. By Type

        14.3.3. By Application

15. Competition Analysis

    15.1. Competition Deep Dive

        15.1.1. SMA Solar Technology AG

            15.1.1.1. Overview

            15.1.1.2. Product Portfolio

            15.1.1.3. Profitability by Market Segments

            15.1.1.4. Sales Footprint

            15.1.1.5. Strategy Overview

                15.1.1.5.1. Marketing Strategy

                15.1.1.5.2. Product Strategy

                15.1.1.5.3. Channel Strategy

        15.1.2. ABB Group

            15.1.2.1. Overview

            15.1.2.2. Product Portfolio

            15.1.2.3. Profitability by Market Segments

            15.1.2.4. Sales Footprint

            15.1.2.5. Strategy Overview

                15.1.2.5.1. Marketing Strategy

                15.1.2.5.2. Product Strategy

                15.1.2.5.3. Channel Strategy

        15.1.3. Huawei Technologies Co. Ltd.

            15.1.3.1. Overview

            15.1.3.2. Product Portfolio

            15.1.3.3. Profitability by Market Segments

            15.1.3.4. Sales Footprint

            15.1.3.5. Strategy Overview

                15.1.3.5.1. Marketing Strategy

                15.1.3.5.2. Product Strategy

                15.1.3.5.3. Channel Strategy

        15.1.4. SolarEdge Technologies Inc.

            15.1.4.1. Overview

            15.1.4.2. Product Portfolio

            15.1.4.3. Profitability by Market Segments

            15.1.4.4. Sales Footprint

            15.1.4.5. Strategy Overview

                15.1.4.5.1. Marketing Strategy

                15.1.4.5.2. Product Strategy

                15.1.4.5.3. Channel Strategy

        15.1.5. Fronius International GmbH

            15.1.5.1. Overview

            15.1.5.2. Product Portfolio

            15.1.5.3. Profitability by Market Segments

            15.1.5.4. Sales Footprint

            15.1.5.5. Strategy Overview

                15.1.5.5.1. Marketing Strategy

                15.1.5.5.2. Product Strategy

                15.1.5.5.3. Channel Strategy

        15.1.6. Sungrow Power Supply Co. Ltd.

            15.1.6.1. Overview

            15.1.6.2. Product Portfolio

            15.1.6.3. Profitability by Market Segments

            15.1.6.4. Sales Footprint

            15.1.6.5. Strategy Overview

                15.1.6.5.1. Marketing Strategy

                15.1.6.5.2. Product Strategy

                15.1.6.5.3. Channel Strategy

        15.1.7. Enphase Energy Inc.

            15.1.7.1. Overview

            15.1.7.2. Product Portfolio

            15.1.7.3. Profitability by Market Segments

            15.1.7.4. Sales Footprint

            15.1.7.5. Strategy Overview

                15.1.7.5.1. Marketing Strategy

                15.1.7.5.2. Product Strategy

                15.1.7.5.3. Channel Strategy

        15.1.8. TMEIC Corporation

            15.1.8.1. Overview

            15.1.8.2. Product Portfolio

            15.1.8.3. Profitability by Market Segments

            15.1.8.4. Sales Footprint

            15.1.8.5. Strategy Overview

                15.1.8.5.1. Marketing Strategy

                15.1.8.5.2. Product Strategy

                15.1.8.5.3. Channel Strategy

        15.1.9. Mitsubishi Electric Corporation

            15.1.9.1. Overview

            15.1.9.2. Product Portfolio

            15.1.9.3. Profitability by Market Segments

            15.1.9.4. Sales Footprint

            15.1.9.5. Strategy Overview

                15.1.9.5.1. Marketing Strategy

                15.1.9.5.2. Product Strategy

                15.1.9.5.3. Channel Strategy

        15.1.10. Schneider Electric SE

            15.1.10.1. Overview

            15.1.10.2. Product Portfolio

            15.1.10.3. Profitability by Market Segments

            15.1.10.4. Sales Footprint

            15.1.10.5. Strategy Overview

                15.1.10.5.1. Marketing Strategy

                15.1.10.5.2. Product Strategy

                15.1.10.5.3. Channel Strategy

16. Assumptions & Acronyms Used

17. Research Methodology

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List of Tables

Table 1: Global Market Value (US$ Million) Forecast by Region, 2018 to 2033

Table 2: Global Market Volume (Units) Forecast by Region, 2018 to 2033

Table 3: Global Market Value (US$ Million) Forecast by Type, 2018 to 2033

Table 4: Global Market Volume (Units) Forecast by Type, 2018 to 2033

Table 5: Global Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 6: Global Market Volume (Units) Forecast by Application, 2018 to 2033

Table 7: North America Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 8: North America Market Volume (Units) Forecast by Country, 2018 to 2033

Table 9: North America Market Value (US$ Million) Forecast by Type, 2018 to 2033

Table 10: North America Market Volume (Units) Forecast by Type, 2018 to 2033

Table 11: North America Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 12: North America Market Volume (Units) Forecast by Application, 2018 to 2033

Table 13: Latin America Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 14: Latin America Market Volume (Units) Forecast by Country, 2018 to 2033

Table 15: Latin America Market Value (US$ Million) Forecast by Type, 2018 to 2033

Table 16: Latin America Market Volume (Units) Forecast by Type, 2018 to 2033

Table 17: Latin America Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 18: Latin America Market Volume (Units) Forecast by Application, 2018 to 2033

Table 19: Europe Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 20: Europe Market Volume (Units) Forecast by Country, 2018 to 2033

Table 21: Europe Market Value (US$ Million) Forecast by Type, 2018 to 2033

Table 22: Europe Market Volume (Units) Forecast by Type, 2018 to 2033

Table 23: Europe Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 24: Europe Market Volume (Units) Forecast by Application, 2018 to 2033

Table 25: Asia Pacific Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 26: Asia Pacific Market Volume (Units) Forecast by Country, 2018 to 2033

Table 27: Asia Pacific Market Value (US$ Million) Forecast by Type, 2018 to 2033

Table 28: Asia Pacific Market Volume (Units) Forecast by Type, 2018 to 2033

Table 29: Asia Pacific Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 30: Asia Pacific Market Volume (Units) Forecast by Application, 2018 to 2033

Table 31: MEA Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 32: MEA Market Volume (Units) Forecast by Country, 2018 to 2033

Table 33: MEA Market Value (US$ Million) Forecast by Type, 2018 to 2033

Table 34: MEA Market Volume (Units) Forecast by Type, 2018 to 2033

Table 35: MEA Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 36: MEA Market Volume (Units) Forecast by Application, 2018 to 2033
Nikhil Kaitwade
Nikhil Kaitwade

Principal Consultant

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List of Charts

Figure 1: Global Market Value (US$ Million) by Type, 2023 to 2033

Figure 2: Global Market Value (US$ Million) by Application, 2023 to 2033

Figure 3: Global Market Value (US$ Million) by Region, 2023 to 2033

Figure 4: Global Market Value (US$ Million) Analysis by Region, 2018 to 2033

Figure 5: Global Market Volume (Units) Analysis by Region, 2018 to 2033

Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2023 to 2033

Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2023 to 2033

Figure 8: Global Market Value (US$ Million) Analysis by Type, 2018 to 2033

Figure 9: Global Market Volume (Units) Analysis by Type, 2018 to 2033

Figure 10: Global Market Value Share (%) and BPS Analysis by Type, 2023 to 2033

Figure 11: Global Market Y-o-Y Growth (%) Projections by Type, 2023 to 2033

Figure 12: Global Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 13: Global Market Volume (Units) Analysis by Application, 2018 to 2033

Figure 14: Global Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 15: Global Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 16: Global Market Attractiveness by Type, 2023 to 2033

Figure 17: Global Market Attractiveness by Application, 2023 to 2033

Figure 18: Global Market Attractiveness by Region, 2023 to 2033

Figure 19: North America Market Value (US$ Million) by Type, 2023 to 2033

Figure 20: North America Market Value (US$ Million) by Application, 2023 to 2033

Figure 21: North America Market Value (US$ Million) by Country, 2023 to 2033

Figure 22: North America Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 23: North America Market Volume (Units) Analysis by Country, 2018 to 2033

Figure 24: North America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 25: North America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 26: North America Market Value (US$ Million) Analysis by Type, 2018 to 2033

Figure 27: North America Market Volume (Units) Analysis by Type, 2018 to 2033

Figure 28: North America Market Value Share (%) and BPS Analysis by Type, 2023 to 2033

Figure 29: North America Market Y-o-Y Growth (%) Projections by Type, 2023 to 2033

Figure 30: North America Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 31: North America Market Volume (Units) Analysis by Application, 2018 to 2033

Figure 32: North America Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 33: North America Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 34: North America Market Attractiveness by Type, 2023 to 2033

Figure 35: North America Market Attractiveness by Application, 2023 to 2033

Figure 36: North America Market Attractiveness by Country, 2023 to 2033

Figure 37: Latin America Market Value (US$ Million) by Type, 2023 to 2033

Figure 38: Latin America Market Value (US$ Million) by Application, 2023 to 2033

Figure 39: Latin America Market Value (US$ Million) by Country, 2023 to 2033

Figure 40: Latin America Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 41: Latin America Market Volume (Units) Analysis by Country, 2018 to 2033

Figure 42: Latin America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 43: Latin America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 44: Latin America Market Value (US$ Million) Analysis by Type, 2018 to 2033

Figure 45: Latin America Market Volume (Units) Analysis by Type, 2018 to 2033

Figure 46: Latin America Market Value Share (%) and BPS Analysis by Type, 2023 to 2033

Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Type, 2023 to 2033

Figure 48: Latin America Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 49: Latin America Market Volume (Units) Analysis by Application, 2018 to 2033

Figure 50: Latin America Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 51: Latin America Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 52: Latin America Market Attractiveness by Type, 2023 to 2033

Figure 53: Latin America Market Attractiveness by Application, 2023 to 2033

Figure 54: Latin America Market Attractiveness by Country, 2023 to 2033

Figure 55: Europe Market Value (US$ Million) by Type, 2023 to 2033

Figure 56: Europe Market Value (US$ Million) by Application, 2023 to 2033

Figure 57: Europe Market Value (US$ Million) by Country, 2023 to 2033

Figure 58: Europe Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 59: Europe Market Volume (Units) Analysis by Country, 2018 to 2033

Figure 60: Europe Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 61: Europe Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 62: Europe Market Value (US$ Million) Analysis by Type, 2018 to 2033

Figure 63: Europe Market Volume (Units) Analysis by Type, 2018 to 2033

Figure 64: Europe Market Value Share (%) and BPS Analysis by Type, 2023 to 2033

Figure 65: Europe Market Y-o-Y Growth (%) Projections by Type, 2023 to 2033

Figure 66: Europe Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 67: Europe Market Volume (Units) Analysis by Application, 2018 to 2033

Figure 68: Europe Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 69: Europe Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 70: Europe Market Attractiveness by Type, 2023 to 2033

Figure 71: Europe Market Attractiveness by Application, 2023 to 2033

Figure 72: Europe Market Attractiveness by Country, 2023 to 2033

Figure 73: Asia Pacific Market Value (US$ Million) by Type, 2023 to 2033

Figure 74: Asia Pacific Market Value (US$ Million) by Application, 2023 to 2033

Figure 75: Asia Pacific Market Value (US$ Million) by Country, 2023 to 2033

Figure 76: Asia Pacific Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 77: Asia Pacific Market Volume (Units) Analysis by Country, 2018 to 2033

Figure 78: Asia Pacific Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 79: Asia Pacific Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 80: Asia Pacific Market Value (US$ Million) Analysis by Type, 2018 to 2033

Figure 81: Asia Pacific Market Volume (Units) Analysis by Type, 2018 to 2033

Figure 82: Asia Pacific Market Value Share (%) and BPS Analysis by Type, 2023 to 2033

Figure 83: Asia Pacific Market Y-o-Y Growth (%) Projections by Type, 2023 to 2033

Figure 84: Asia Pacific Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 85: Asia Pacific Market Volume (Units) Analysis by Application, 2018 to 2033

Figure 86: Asia Pacific Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 87: Asia Pacific Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 88: Asia Pacific Market Attractiveness by Type, 2023 to 2033

Figure 89: Asia Pacific Market Attractiveness by Application, 2023 to 2033

Figure 90: Asia Pacific Market Attractiveness by Country, 2023 to 2033

Figure 91: MEA Market Value (US$ Million) by Type, 2023 to 2033

Figure 92: MEA Market Value (US$ Million) by Application, 2023 to 2033

Figure 93: MEA Market Value (US$ Million) by Country, 2023 to 2033

Figure 94: MEA Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 95: MEA Market Volume (Units) Analysis by Country, 2018 to 2033

Figure 96: MEA Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 97: MEA Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 98: MEA Market Value (US$ Million) Analysis by Type, 2018 to 2033

Figure 99: MEA Market Volume (Units) Analysis by Type, 2018 to 2033

Figure 100: MEA Market Value Share (%) and BPS Analysis by Type, 2023 to 2033

Figure 101: MEA Market Y-o-Y Growth (%) Projections by Type, 2023 to 2033

Figure 102: MEA Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 103: MEA Market Volume (Units) Analysis by Application, 2018 to 2033

Figure 104: MEA Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 105: MEA Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 106: MEA Market Attractiveness by Type, 2023 to 2033

Figure 107: MEA Market Attractiveness by Application, 2023 to 2033

Figure 108: MEA Market Attractiveness by Country, 2023 to 2033

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