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Residential Solar PV Inverter Market

Market Insights on Residential Solar PV Inverter covering sales outlook, demand forecast & up-to-date key trends

Residential Solar PV Inverter Market Analysis By Type (String Inverter and Micro Inverter), Application (Single Phase and Three Phase), & Region - Forecast 2022 - 2032

Residential Solar PV Inverter Market Outlook (2022-2032)

[332 Pages Report] The global residential solar PV inverter market is poised to increase at a consistent CAGR of 4%, reaching US$ 6.2 Bn by 2032 from US$ 4 Bn in 2021.

“Central PV inverters are predicted to increase significantly throughout the projection period due to various advantages over other inverters such as cheaper prices, 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 trend away from traditional inverters toward string inverters may be seen in the increased 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, and 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 1.1MW output that is compatible with energy storage systems. The 1+X modular inverter may be stacked to provide 8.8MW of power and includes a DC/ESS interface for connecting energy storage devices (ESS).

Attributes

Details

Residential Solar PV Inverter Market CAGR (2022 – 2032)

4%

Residential Solar PV Inverter Market (2026)

US$ 4.87 Bn

Residential Solar PV Inverter Market Attraction

Certain advantages like cost, reliability, and durability provided by solar PV inverters are the driving factors of the market expansion.

What is the Impact of COVID-19 on the Residential Solar PV Inverter?

Lockdowns enforced in response to the COVID-19 pandemic led to a temporary suspension of import and export, as well as manufacturing and processing operations across a variety of industries, lowering demand for power equipment and harming the solar PV inverter market. 

As a result, residential solar PV inverter market growth is slow in the second, third, and fourth quarters of 2020. On the other hand, the photovoltaic inverter market is likely to rebound by the end of 2022, since COVID-19 immunisation has begun in several nations worldwide, which is expected to help the global scenario.

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What Factors Drive the Residential Solar PV Inverter Growth?

“Large inflow of investments in the renewable energy industry, increase in favourable government initiatives and increase in residential solar rooftop installations are driving market expansion.”

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 are driving this demand. 

Furthermore, 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 market include the demand for rural electrification, technical improvements, rising government backing, and increased renewable energy investments. The residential solar PV inverter market outlook will be bolstered by inorganic growth initiatives, contracts, and new product developments to expand the product portfolios of top firms. 

For example, in March 2021, Fronius International GmbH introduced the GEN24 Plus, a revolutionary three-phase PV hybrid inverter from the Fronius Symo series that 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.

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, the high cost of infrastructural improvements, and recent government payment reduction on solar panels in the Asia-Pacific area. 

Furthermore, 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 and phasing out conventional storage technologies would energize the business dynamics. Significant modifications and enhancements to current procedures, along with cost-competitiveness, will have a beneficial effect on industry dynamics. 

Residential solar PV inverters account for two-thirds of the industry's distributed photovoltaic capacity, owing to widespread acceptance of renewable energy sources in the housing sector and the growth of net metering schemes. Additionally, smart communication that ensures network dependability in conjunction with an equilibrium of electrical demand and supply would stimulate residential solar PV inverter market adoption

Increasing regulatory concerns about the effectiveness of grid-tied solar installations will encourage the adoption of string-based household solar PV inverter systems. The paradigm change toward effective manufacturing accuracy, new product innovations, optimization, and standardization of production processes for environmental compatibility, power production, and cheap installation costs are likely to continue to affect the corporate landscape.

How are Certain Obstacles Impeding the Growth of the Residential Solar PV Inverter?

The residential solar PV inverter market growth slowed down since there were delays in making new inverters, a lack of capacity additions, and financial problems for the primary player's value chain. The market for solar PV inverters is likely to grow because of things like supportive government initiatives and investment in solar energy projects in remote and rural areas. 

The residential solar PV inverter market in the Asia-Pacific region is expected to grow at a slower rate during the study period because of a lack of public awareness, the costs of building infrastructure, and the recent cuts in government subsidies for solar panels.

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A Comparison of Adjacent Residential Solar PV Inverters

Residential Solar PV Inverter Market:

Attributes 

Residential Solar PV Inverter Market

CAGR (2022 - 2032)

3.8% 

Market Value  (2026) 

US$ 4.8 Bn

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 (2022 - 2032)

3.9%

Market Value  (2026) 

US$ 74.2

Growth Factor

Government schemes and incentives, such as auctions, tariffs, and tax exemptions, are all beneficial to the market growth.

Opportunity

Widespread resource availability and cost-competitiveness, as well as growing industry potential.

Key Trends

Recent technological advancements and R&D activities in large-scale solar applications for efficient power output. 

Solar PV Glass Market:

Attributes

Solar PV Glass Market

CAGR (2022 - 2032)

   

6.6% 

Market Value(2026)

US$ 58.5 Bn

Growth Factor

Market revenue will be boosted by strict policies and regulations relating to clean energy adoption, as well as laws limiting greenhouse gas emissions.

Opportunity

Increasing investments to explore developing countries' untapped photovoltaic potential.

Key Trends

Due to the US’s 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.

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 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. 

Although good government programmes are helping, the market for solar PV inverters is going to grow. People around the world are working to improve the quality of their lives by building more infrastructure in their country. The government of the United Arab Emirates, for example, focuses a lot on the Smart Dubai project, which aims to make Dubai the world's smartest city. 

This growth in construction is expected to make the solar PV inverter market bigger. 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 grow even more. Because more people are using solar energy to power their homes, appliances, and other things, the residential end-use segment 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 will help the business grow. 

The global and domestic participants in the industry have had a big impact on the way the industry works. It will be easier for people to use the product if there are more regulations and people want to use a more efficient PV system inverter

Schneider Electric, Siemens, SHENZHEN SOFAR SOLAR, SolarEdge Technologies, General Electric, and Canadian Solar are some of the big names in the residential solar PV inverter market. The cost of solar panels will go down because more parts can be made, and primitive technology is being used to make them more efficient.

What is the Residential Solar PV Inverter Segmentation Outlook?

The residential solar PV inverter is to be segmented based on two types that are string inverter and microinverter. By application type, the market is again segmented into two categories single-phase and three-phase.

The large inflow of investments in the renewable energy industry, increase in favourable government initiatives and increase in residential solar rooftop installations are driving market expansion. This study examines the worldwide, regional, and corporate sales of residential solar PV inverters

The three-phase sector has the biggest 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 due to the trend from 1,000-volt to 1,500-volt solar arrays, supporting the three-phase solar PV inverters market growth throughout the projection period. 

The utility category has the greatest revenue share and is predicted to increase at a 4% CAGR. Investment in utility-scale solar power plants, solar parks, and other buildings has increased. 

Decentralized solar power plants, rural electrification, solar power plants on water bodies and roofs, commercial buildings, and others are driving the global solar PV inverters market for utilities.

Which Segment of the Residential Solar PV Inverter Remains Highly Preferred?

The central PV inverter segment dominated the market by product type, and this dominance is projected to continue. Globally, significant industrial and utility applications are increasing the demand for central PV inverters

From 2022 to 2032, significant industrialisation and renewable energy infrastructure expansion in rising nations like China, India, Japan, and others would further drive demand for central PV inverters

The on-grid sector has the highest revenue share and is likely to continue dominating over the projection period. This surge is due to increased investment in direct energy supply rather than battery storage. 

Quick energy feeding, easy installation, cost-efficiency, and controlling high electricity demand are all advantages of using on-grid solar PV inverters that should drive market expansion in the next years.

What is the Residential Solar PV Inverter Regional Demand Analysis?

Asia-Pacific captured the largest revenue share of the solar PV inverters market in 2020 and is expected to retain its dominance during the forecast period. This is due to the region's existence of significant players and a sizable customer base.

Additionally, development in the renewable energy sector, increased investment in upgrading ageing power infrastructure, and fast industrialisation in the area are expected to fuel the residential solar PV inverter market growth in the future years.

How Competitive is the Residential Solar PV Inverter Market?

The global residential solar PV inverter market is fragmented. ABB LtdSchneider Electric SE, Siemens AG, Mitsubishi Electric Corporation, and Omron Corporation are the market's leading companies.

Recent Market Developments for Residential Solar Photovoltaic Inverters:

  • Sungrow Power Supply Co. Ltd released centralised inverters (model SG3125HV) and string inverters in February 2021. (domestic model SG225HX; international model SG250HX). 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).

Key Segments

By Type:

  • String Inverter
  • Micro-Inverter

By Application:

  • Single Phase
  • Three Phase

By Region:

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

Frequently Asked Questions

The residential solar PV inverter is predicted to expand at a consistent CAGR of 4% throughout the forecast period.

In 2021, the worldwide residential solar PV inverter was estimated to be worth US$ 4 Billion.

By 2032, the worldwide residential solar PV inverter is anticipated to reach US$ 6.2 Billion.

The Asia Pacific is a significant market for residential solar PV inverters.

By 2026, the residential solar PV inverter is estimated to reach roughly US$ 4.87 Billion.

Table of Content

1. Executive Summary

    1.1. Global Market Outlook 

    1.2. Summary of Statistics

    1.3. Key Market Characteristics & Attributes

    1.4. Fact.MR Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy 

    2.2. Market Definition / Scope / Limitations

3. Market Risks and Trends Assessment 

    3.1. Risk Assessment 

        3.1.1. COVID-19 Crisis and Impact on Residential Solar PV Inverter Demand

        3.1.2. COVID-19 Impact Benchmark with Previous Crisis 

        3.1.3. Impact on Market Value (US$ Mn)

        3.1.4. Assessment by Key Countries

        3.1.5. Assessment by Key Market Segments

        3.1.6. Action Points and Recommendation for Suppliers

    3.2. Key Trends Impacting the Market

    3.3. Formulation and Product Development Trends

4. Market Background and Foundation Data Points 

    4.1. Global Protective Coatings Market (US$ Mn)

    4.2. Residential Solar PV Inverter Market Opportunity Assessment (US$ Mn)

        4.2.1. Total Available Market

        4.2.2. Serviceable Addressable Market

        4.2.3. Serviceable Obtainable Market

    4.3. Market Scenario Forecast 

        4.3.1. Demand in optimistic Scenario

        4.3.2. Demand in Likely Scenario

        4.3.3. Demand in Conservative Scenario 

    4.4. Investment Feasibility Analysis 

        4.4.1. Investment in Established Markets

            4.4.1.1. In Short Term

            4.4.1.2. In Long Term

        4.4.2. Investment in Emerging Markets

            4.4.2.1. In Short Term

            4.4.2.2. In Long Term

    4.5. Forecast Factors - Relevance & Impact 

        4.5.1. Top Companies Historical Growth

        4.5.2. Global Protective Coatings Market Growth

        4.5.3. Residential Solar PV Inverter Adoption Rate, By Country

    4.6. Market Dynamics 

        4.6.1. Market Driving Factors and Impact Assessment

        4.6.2. Prominent Market Challenges and Impact Assessment

        4.6.3. Residential Solar PV Inverter Market Opportunities

        4.6.4. Prominent Trends in the Global Market & Their Impact Assessment

5. Key Success Factors 

    5.1. Manufacturers’ Focus on Low Penetration High Growth Markets

    5.2. Banking on with Segments High Incremental Opportunity

    5.3. Peer Benchmarking 

6. Global Residential Solar PV Inverter Market Demand Analysis 2015-2021 and Forecast, 2022-2032

    6.1. Historical Market Analysis, 2015-2021

    6.2. Current and Future Market Projections, 2022-2032

    6.3. Y-o-Y Growth Trend Analysis

7. Global Residential Solar PV Inverter Market Value Analysis 2015-2021 and Forecast, 2022-2032

    7.1. Historical Market Value (US$ Mn) Analysis, 2015-2021

    7.2. Current and Future Market Value (US$ Mn) Projections, 2022-2032

        7.2.1. Y-o-Y Growth Trend Analysis

        7.2.2. Absolute $ Opportunity Analysis

8. Global Residential Solar PV Inverter Market Analysis 2015-2021 and Forecast 2022-2032, By Type

    8.1. Introduction / Key Findings

    8.2. Historical Market Size (US$ Mn) Analysis By Type, 2015-2021

    8.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Type, 2022-2032

        8.3.1. String Inverter

        8.3.2. Micro Inverter

    8.4. Market Attractiveness Analysis By Type

9. Global Residential Solar PV Inverter Market Analysis 2015-2021 and Forecast 2022-2032, By Application

    9.1. Introduction / Key Findings

    9.2. Historical Market Size (US$ Mn) Analysis By Application, 2015-2021

    9.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Application, 2022-2032

        9.3.1. Single Phase

        9.3.2. Three Phase

    9.4. Market Attractiveness Analysis By Application

10. Global Residential Solar PV Inverter Market Analysis 2015-2021 and Forecast 2022-2032, By Region

    10.1. Introduction

    10.2. Historical Market Size (US$ Mn) Analysis By Region, 2015-2021

    10.3. Current Market Size (US$ Mn) & Analysis and Forecast By Region, 2022-2032

        10.3.1. North America

        10.3.2. Latin America

        10.3.3. Europe

        10.3.4. Asia Pacific 

        10.3.5. Middle East and Africa (MEA)

    10.4. Market Attractiveness Analysis By Region

11. North America Residential Solar PV Inverter Market Analysis 2015-2021 and Forecast 2022-2032

    11.1. Introduction

    11.2. Pricing Analysis

    11.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021

    11.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032

        11.4.1. By Country

            11.4.1.1. U.S.

            11.4.1.2. Canada

            11.4.1.3. Rest of North America

        11.4.2. By Type

        11.4.3. By Application

    11.5. Market Attractiveness Analysis

        11.5.1. By Country

        11.5.2. By Type

        11.5.3. By Application

12. Latin America Residential Solar PV Inverter Market Analysis 2015-2021 and Forecast 2022-2032

    12.1. Introduction

    12.2. Pricing Analysis

    12.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021

    12.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032

        12.4.1. By Country

            12.4.1.1. Brazil

            12.4.1.2. Mexico

            12.4.1.3. Rest of Latin America

        12.4.2. By Type

        12.4.3. By Application

    12.5. Market Attractiveness Analysis

        12.5.1. By Country

        12.5.2. By Type

        12.5.3. By Application

13. Europe Residential Solar PV Inverter Market Analysis 2015-2021 and Forecast 2022-2032

    13.1. Introduction

    13.2. Pricing Analysis

    13.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021

    13.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032

        13.4.1. By Country

            13.4.1.1. Germany

            13.4.1.2. France

            13.4.1.3. U.K.

            13.4.1.4. Italy

            13.4.1.5. Benelux

            13.4.1.6. Nordic Countries

            13.4.1.7. Rest of Europe

        13.4.2. By Type

        13.4.3. By Application

    13.5. Market Attractiveness Analysis

        13.5.1. By Country

        13.5.2. By Type

        13.5.3. By Application

14. Asia Pacific Residential Solar PV Inverter Market Analysis 2015-2021 and Forecast 2022-2032

    14.1. Introduction

    14.2. Pricing Analysis

    14.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021

    14.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032

        14.4.1. By Country

            14.4.1.1. China

            14.4.1.2. Japan

            14.4.1.3. South Korea

            14.4.1.4. Rest of Asia Pacific

        14.4.2. By Type

        14.4.3. By Application

    14.5. Market Attractiveness Analysis

        14.5.1. By Country

        14.5.2. By Type

        14.5.3. By Application

15. Middle East and Africa Residential Solar PV Inverter Market Analysis 2015-2021 and Forecast 2022-2032

    15.1. Introduction

    15.2. Pricing Analysis

    15.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021

    15.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032

        15.4.1. By Country

            15.4.1.1. GCC Countries

            15.4.1.2. South Africa

            15.4.1.3. Turkey

            15.4.1.4. Rest of Middle East and Africa

        15.4.2. By Type

        15.4.3. By Application

    15.5. Market Attractiveness Analysis

        15.5.1. By Country

        15.5.2. By Type

        15.5.3. By Application

16. Key Countries Residential Solar PV Inverter Market Analysis 2015-2021 and Forecast 2022-2032

    16.1. Introduction

        16.1.1. Market Value Proportion Analysis, By Key Countries

        16.1.2. Global Vs. Country Growth Comparison

    16.2. US Residential Solar PV Inverter Market Analysis

        16.2.1. Value Proportion Analysis by Market Taxonomy

        16.2.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            16.2.2.1. By Type

            16.2.2.2. By Application

    16.3. Canada Residential Solar PV Inverter Market Analysis

        16.3.1. Value Proportion Analysis by Market Taxonomy

        16.3.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            16.3.2.1. By Type

            16.3.2.2. By Application

    16.4. Mexico Residential Solar PV Inverter Market Analysis

        16.4.1. Value Proportion Analysis by Market Taxonomy

        16.4.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            16.4.2.1. By Type

            16.4.2.2. By Application

    16.5. Brazil Residential Solar PV Inverter Market Analysis

        16.5.1. Value Proportion Analysis by Market Taxonomy

        16.5.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            16.5.2.1. By Type

            16.5.2.2. By Application

    16.6. Germany Residential Solar PV Inverter Market Analysis

        16.6.1. Value Proportion Analysis by Market Taxonomy

        16.6.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            16.6.2.1. By Type

            16.6.2.2. By Application

    16.7. France Residential Solar PV Inverter Market Analysis

        16.7.1. Value Proportion Analysis by Market Taxonomy

        16.7.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            16.7.2.1. By Type

            16.7.2.2. By Application

    16.8. Italy Residential Solar PV Inverter Market Analysis

        16.8.1. Value Proportion Analysis by Market Taxonomy

        16.8.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            16.8.2.1. By Type

            16.8.2.2. By Application

    16.9. BENELUX Residential Solar PV Inverter Market Analysis

        16.9.1. Value Proportion Analysis by Market Taxonomy

        16.9.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            16.9.2.1. By Type

            16.9.2.2. By Application

    16.10. UK Residential Solar PV Inverter Market Analysis

        16.10.1. Value Proportion Analysis by Market Taxonomy

        16.10.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            16.10.2.1. By Type

            16.10.2.2. By Application

    16.11. Nordic Countries Residential Solar PV Inverter Market Analysis

        16.11.1. Value Proportion Analysis by Market Taxonomy

        16.11.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            16.11.2.1. By Type

            16.11.2.2. By Application

    16.12. China Residential Solar PV Inverter Market Analysis

        16.12.1. Value Proportion Analysis by Market Taxonomy

        16.12.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            16.12.2.1. By Type

            16.12.2.2. By Application

    16.13. Japan Residential Solar PV Inverter Market Analysis

        16.13.1. Value Proportion Analysis by Market Taxonomy

        16.13.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            16.13.2.1. By Type

            16.13.2.2. By Application

    16.14. South Korea Residential Solar PV Inverter Market Analysis

        16.14.1. Value Proportion Analysis by Market Taxonomy

        16.14.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            16.14.2.1. By Type

            16.14.2.2. By Application

    16.15. GCC Countries Residential Solar PV Inverter Market Analysis

        16.15.1. Value Proportion Analysis by Market Taxonomy

        16.15.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            16.15.2.1. By Type

            16.15.2.2. By Application

    16.16. South Africa Residential Solar PV Inverter Market Analysis

        16.16.1. Value Proportion Analysis by Market Taxonomy

        16.16.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            16.16.2.1. By Type

            16.16.2.2. By Application

    16.17. Turkey Residential Solar PV Inverter Market Analysis

        16.17.1. Value Proportion Analysis by Market Taxonomy

        16.17.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032

            16.17.2.1. By Type

            16.17.2.2. By Application

        16.17.3. Competition Landscape and Player Concentration in the Country

17. Market Structure Analysis

    17.1. Market Analysis by Tier of Companies 

    17.2. Market Concentration

    17.3. Market Share Analysis of Top Players

    17.4. Market Presence Analysis

        17.4.1. By Regional footprint of Players

        17.4.2. Product footprint by Players

18. Competition Analysis

    18.1. Competition Dashboard

    18.2. Competition Benchmarking

    18.3. Competition Deep Dive 

        18.3.1. General Electric

            18.3.1.1. Overview

            18.3.1.2. Product Portfolio

            18.3.1.3. Sales Footprint

            18.3.1.4. Strategy Overview

        18.3.2. SMA Solar Technology AG

            18.3.2.1. Overview

            18.3.2.2. Product Portfolio

            18.3.2.3. Sales Footprint

            18.3.2.4. Strategy Overview

        18.3.3. Sungrow

            18.3.3.1. Overview

            18.3.3.2. Product Portfolio

            18.3.3.3. Sales Footprint

            18.3.3.4. Strategy Overview

        18.3.4. Darfon Electronics Corp.

            18.3.4.1. Overview

            18.3.4.2. Product Portfolio

            18.3.4.3. Sales Footprint

            18.3.4.4. Strategy Overview

        18.3.5. Schneider Electric

            18.3.5.1. Overview

            18.3.5.2. Product Portfolio

            18.3.5.3. Sales Footprint

            18.3.5.4. Strategy Overview

        18.3.6. Enphase Energy

            18.3.6.1. Overview

            18.3.6.2. Product Portfolio

            18.3.6.3. Sales Footprint

            18.3.6.4. Strategy Overview

        18.3.7. Siemens

            18.3.7.1. Overview

            18.3.7.2. Product Portfolio

            18.3.7.3. Sales Footprint

            18.3.7.4. Strategy Overview

        18.3.8. Fimer Group

            18.3.8.1. Overview

            18.3.8.2. Product Portfolio

            18.3.8.3. Sales Footprint

            18.3.8.4. Strategy Overview

        18.3.9. Eaton

            18.3.9.1. Overview

            18.3.9.2. Product Portfolio

            18.3.9.3. Sales Footprint

            18.3.9.4. Strategy Overview

        18.3.10. SolarEdge Technologies, Inc.

            18.3.10.1. Overview

            18.3.10.2. Product Portfolio

            18.3.10.3. Sales Footprint

            18.3.10.4. Strategy Overview

        18.3.11. Huawei Technologies Co., Ltd.

            18.3.11.1. Overview

            18.3.11.2. Product Portfolio

            18.3.11.3. Sales Footprint

            18.3.11.4. Strategy Overview

19. Assumptions and Acronyms Used

20. Research Methodology

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List of Tables

Table 1: Global Residential Solar PV Inverter Market Value (US$ Mn), By Type, 2015 – 2021

Table 2: Global Residential Solar PV Inverter Market Value (US$ Mn), By Type, 2022 – 2032

Table 3: Global Residential Solar PV Inverter Market Value (US$ Mn), By Application, 2015 – 2021

Table 4: Global Residential Solar PV Inverter Market Value (US$ Mn), By Application, 2022 – 2032

Table 5: Global Residential Solar PV Inverter Market, By Region, 2015 – 2021

Table 6: Global Residential Solar PV Inverter Market, By Region, 2022 – 2032

Table 7: North America Residential Solar PV Inverter Market Value (US$ Mn), By Type, 2015 – 2021

Table 8: North America Residential Solar PV Inverter Market Value (US$ Mn), By Type, 2022 – 2032

Table 9: North America Residential Solar PV Inverter Market Value (US$ Mn), By Application, 2015 – 2021

Table 10: North America Residential Solar PV Inverter Market Value (US$ Mn), By Application, 2022 – 2032

Table 11: North America Residential Solar PV Inverter Market, By Country, 2015 – 2021

Table 12: North America Residential Solar PV Inverter Market, By Country, 2022 – 2032

Table 13: Latin America Residential Solar PV Inverter Market Value (US$ Mn), By Type, 2015 – 2021

Table 14: Latin America Residential Solar PV Inverter Market Value (US$ Mn), By Type, 2022 – 2032

Table 15: Latin America Residential Solar PV Inverter Market Value (US$ Mn), By Application, 2015 – 2021

Table 16: Latin America Residential Solar PV Inverter Market Value (US$ Mn), By Application, 2022 – 2032

Table 17: Latin America Residential Solar PV Inverter Market, By Country, 2015 – 2021

Table 18: Latin America Residential Solar PV Inverter Market, By Country, 2022 – 2032

Table 19: Europe Residential Solar PV Inverter Market Value (US$ Mn), By Type, 2015 – 2021

Table 20: Europe Residential Solar PV Inverter Market Value (US$ Mn), By Type, 2022 – 2032

Table 21: Europe Residential Solar PV Inverter Market Value (US$ Mn), By Application, 2015 – 2021

Table 22: Europe Residential Solar PV Inverter Market Value (US$ Mn), By Application, 2022 – 2032

Table 23: Europe Residential Solar PV Inverter Market, By Country, 2015 – 2021

Table 24: Europe Residential Solar PV Inverter Market, By Country, 2022 – 2032

Table 25: Asia Pacific Residential Solar PV Inverter Market Value (US$ Mn), By Type, 2015 – 2021

Table 26: Asia Pacific Residential Solar PV Inverter Market Value (US$ Mn), By Type, 2022 – 2032

Table 27: Asia Pacific Residential Solar PV Inverter Market Value (US$ Mn), By Application, 2015 – 2021

Table 28: Asia Pacific Residential Solar PV Inverter Market Value (US$ Mn), By Application, 2022 – 2032

Table 29: Asia Pacific Residential Solar PV Inverter Market, By Country, 2015 – 2021

Table 30: Asia Pacific Residential Solar PV Inverter Market, By Country, 2022 – 2032

Table 31: MEA Residential Solar PV Inverter Market Value (US$ Mn), By Type, 2015 – 2021

Table 32: MEA Residential Solar PV Inverter Market Value (US$ Mn), By Type, 2022 – 2032

Table 33: MEA Residential Solar PV Inverter Market Value (US$ Mn), By Application, 2015 – 2021

Table 34: MEA Residential Solar PV Inverter Market Value (US$ Mn), By Application, 2022 – 2032

Table 35: MEA Residential Solar PV Inverter Market, By Country, 2015 – 2021

Table 36: MEA Residential Solar PV Inverter Market, By Country, 2022 – 2032

Table 37: Global Residential Solar PV Inverter Market Incremental $ Opportunity, By Type, 2015 - 2021

Table 38: Global Residential Solar PV Inverter Market Incremental $ Opportunity, By Application, 2022 – 2032

Table 39: Global Residential Solar PV Inverter Market Incremental $ Opportunity, By Region, 2022 – 2032

Table 40: North America Residential Solar PV Inverter Market Incremental $ Opportunity, By Type, 2015 - 2021

Table 41: North America Residential Solar PV Inverter Market Incremental $ Opportunity, By Application, 2022 – 2032

Table 42: North America Residential Solar PV Inverter Market Incremental $ Opportunity, By Country, 2022 – 2032

Table 43: Latin America Residential Solar PV Inverter Market Incremental $ Opportunity, By Type, 2015 - 2021

Table 44: Latin America Residential Solar PV Inverter Market Incremental $ Opportunity, By Application, 2022 – 2032

Table 45: Latin America Residential Solar PV Inverter Market Incremental $ Opportunity, By Country, 2022 – 2032

Table 46: Europe Residential Solar PV Inverter Market Incremental $ Opportunity, By Type, 2015 - 2021

Table 47: Europe Residential Solar PV Inverter Market Incremental $ Opportunity, By Application, 2022 – 2032

Table 48: Europe Residential Solar PV Inverter Market Incremental $ Opportunity, By Country, 2022 - 2032

Table 49: Asia Pacific Residential Solar PV Inverter Market Incremental $ Opportunity, By Type, 2015 - 2021

Table 50: Asia Pacific Residential Solar PV Inverter Market Incremental $ Opportunity, By Application, 2022 – 2032

Table 51: Asia Pacific Residential Solar PV Inverter Market Incremental $ Opportunity, By Country, 2022 – 2032

Table 52: MEA Residential Solar PV Inverter Market Incremental $ Opportunity, By Type, 2015 - 2021

Table 53: MEA Residential Solar PV Inverter Market Incremental $ Opportunity, By Application, 2022 – 2032

Table 54: MEA Residential Solar PV Inverter Market Incremental $ Opportunity, By Country, 2022 - 2032

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List of Charts

Figure 1: Global Residential Solar PV Inverter Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032

Figure 2: Global Residential Solar PV Inverter Market Absolute $ Historical Gain (2015 - 2021) and Opportunity (2022 – 2032), US$ Mn

Figure 3: Global Residential Solar PV Inverter Market Share, By Type, 2022 & 2032

Figure 4: Global Residential Solar PV Inverter Market Y-o-Y Growth Projections, By Type – 2022-2032

Figure 5: Global Residential Solar PV Inverter Market Attractiveness Index, By Type – 2022-2032

Figure 6: Global Residential Solar PV Inverter Market Share, By Application, 2022 & 2032

Figure 7: Global Residential Solar PV Inverter Market Y-o-Y Growth Projections, By Application – 2022-2032

Figure 8: Global Residential Solar PV Inverter Market Attractiveness Index, By Application – 2022-2032

Figure 9: Global Residential Solar PV Inverter Market Share, By Region, 2022 & 2032

Figure 10: Global Residential Solar PV Inverter Market Y-o-Y Growth Projections, By Region – 2022-2032

Figure 11: Global Residential Solar PV Inverter Market Attractiveness Index, By Region – 2022-2032

Figure 12: North America Residential Solar PV Inverter Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032

Figure 13: North America Residential Solar PV Inverter Market Absolute $ Opportunity Historical (2015 - 2021) and Forecast Period (2022 – 2032), US$ Mn

Figure 14: North America Residential Solar PV Inverter Market Share, By Type, 2022 & 2032

Figure 15: North America Residential Solar PV Inverter Market Y-o-Y Growth Projections, By Type – 2022-2032

Figure 16: North America Residential Solar PV Inverter Market Attractiveness Index, By Type – 2022-2032

Figure 17: North America Residential Solar PV Inverter Market Share, By Application, 2022 & 2032

Figure 18: North America Residential Solar PV Inverter Market Y-o-Y Growth Projections, By Application – 2022-2032

Figure 19: North America Residential Solar PV Inverter Market Attractiveness Index, By Application – 2022-2032

Figure 20: North America Residential Solar PV Inverter Market Share, By Country, 2022 & 2032

Figure 21: North America Market Y-o-Y Growth Projections, By Country – 2022-2032

Figure 22: North America Market Attractiveness Index, By Country – 2022-2032

Figure 23: Latin America Residential Solar PV Inverter Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032

Figure 24: Latin America Residential Solar PV Inverter Market Absolute $ Opportunity Historical (2015 - 2021) and Forecast Period (2022 – 2032), US$ Mn

Figure 25: Latin America Residential Solar PV Inverter Market Share, By Type, 2022 & 2032

Figure 26: Latin America Residential Solar PV Inverter Market Y-o-Y Growth Projections, By Type – 2022-2032

Figure 27: Latin America Residential Solar PV Inverter Market Attractiveness Index, By Type – 2022-2032

Figure 28: Latin America Residential Solar PV Inverter Market Share, By Application, 2022 & 2032

Figure 29: Latin America Residential Solar PV Inverter Market Y-o-Y Growth Projections, By Application – 2022-2032

Figure 30: Latin America Residential Solar PV Inverter Market Attractiveness Index, By Application – 2022-2032

Figure 31: Latin America Residential Solar PV Inverter Market Share, By Country, 2022 & 2032

Figure 32: Latin America Residential Solar PV Inverter Market Y-o-Y Growth Projections, By Country – 2022-2032

Figure 33: Latin America Residential Solar PV Inverter Market Attractiveness Index, By Country – 2022-2032

Figure 34: Europe Residential Solar PV Inverter Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032

Figure 35: Europe Residential Solar PV Inverter Market Absolute $ Opportunity Historical (2015 - 2021) and Forecast Period (2022 – 2032), US$ Mn

Figure 36: Europe Residential Solar PV Inverter Market Share, By Type, 2022 & 2032

Figure 37: Europe Residential Solar PV Inverter Market Y-o-Y Growth Projections, By Type – 2022-2032

Figure 38: Europe Residential Solar PV Inverter Market Attractiveness Index, By Type – 2022-2032

Figure 39: Europe Residential Solar PV Inverter Market Share, By Application, 2022 & 2032

Figure 40: Europe Residential Solar PV Inverter Market Y-o-Y Growth Projections, By Application – 2022-2032

Figure 41: Europe Residential Solar PV Inverter Market Attractiveness Index, By Application – 2022-2032

Figure 42: Europe Residential Solar PV Inverter Market Share, By Country, 2022 & 2032

Figure 43: Europe Residential Solar PV Inverter Market Y-o-Y Growth Projections, By Country – 2022-2032

Figure 44: Europe Residential Solar PV Inverter Market Attractiveness Index, By Country – 2022-2032

Figure 45: MEA Residential Solar PV Inverter Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032

Figure 46: MEA Residential Solar PV Inverter Market Absolute $ Opportunity Historical (2015 - 2021) and Forecast Period (2022 – 2032), US$ Mn

Figure 47: MEA Residential Solar PV Inverter Market Share, By Type, 2022 & 2032

Figure 48: MEA Residential Solar PV Inverter Market Y-o-Y Growth Projections, By Type – 2022-2032

Figure 49: MEA Residential Solar PV Inverter Market Attractiveness Index, By Type – 2022-2032

Figure 50: MEA Residential Solar PV Inverter Market Share, By Application, 2022 & 2032

Figure 51: MEA Residential Solar PV Inverter Market Y-o-Y Growth Projections, By Application – 2022-2032

Figure 52: MEA Residential Solar PV Inverter Market Attractiveness Index, By Application – 2022-2032

Figure 53: MEA Residential Solar PV Inverter Market Share, By Country, 2022 & 2032

Figure 54: MEA Residential Solar PV Inverter Market Y-o-Y Growth Projections, By Country – 2022-2032

Figure 55: MEA Residential Solar PV Inverter Market Attractiveness Index, By Country – 2022-2032

Figure 56: Asia Pacific Residential Solar PV Inverter Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032

Figure 57: Asia Pacific Residential Solar PV Inverter Market Absolute $ Opportunity Historical (2015 - 2021) and Forecast Period (2022 – 2032), US$ Mn

Figure 58: Asia Pacific Residential Solar PV Inverter Market Share, By Type, 2022 & 2032

Figure 59: Asia Pacific Residential Solar PV Inverter Market Y-o-Y Growth Projections, By Type – 2022-2032

Figure 60: Asia Pacific Residential Solar PV Inverter Market Attractiveness Index, By Type – 2022-2032

Figure 61: Asia Pacific Residential Solar PV Inverter Market Share, By Application, 2022 & 2032

Figure 62: Asia Pacific Residential Solar PV Inverter Market Y-o-Y Growth Projections, By Application – 2022-2032

Figure 63: Asia Pacific Residential Solar PV Inverter Market Attractiveness Index, By Application – 2022-2032

Figure 64: Asia Pacific Residential Solar PV Inverter Market Share, By Country, 2022 & 2032

Figure 65: Asia Pacific Residential Solar PV Inverter Market Y-o-Y Growth Projections, By Country – 2022-2032

Figure 66: Asia Pacific Residential Solar PV Inverter Market Attractiveness Index, By Country – 2022-2032

Figure 67: US Residential Solar PV Inverter Market Value (US$ Mn) and Forecast, 2022 - 2032

Figure 68: US Residential Solar PV Inverter Market Share, By Type, 2021

Figure 69: US Residential Solar PV Inverter Market Share, By Application, 2021

Figure 70: Canada Residential Solar PV Inverter Market Value (US$ Mn) and Forecast, 2022 - 2032

Figure 71: Canada Residential Solar PV Inverter Market Share, By Type, 2021

Figure 72: Canada Residential Solar PV Inverter Market Share, By Application, 2021

Figure 73: Brazil Residential Solar PV Inverter Market Value (US$ Mn) and Forecast, 2022 - 2032

Figure 74: Brazil Residential Solar PV Inverter Market Share, By Type, 2021

Figure 75: Brazil Residential Solar PV Inverter Market Share, By Application, 2021

Figure 76: Mexico Residential Solar PV Inverter Market Value (US$ Mn) and Forecast, 2022 - 2032

Figure 77: Mexico Residential Solar PV Inverter Market Share, By Type, 2021

Figure 78: Mexico Residential Solar PV Inverter Market Share, By Application, 2021

Figure 79: Germany Residential Solar PV Inverter Market Value (US$ Mn) and Forecast, 2022 - 2032

Figure 80: Germany Residential Solar PV Inverter Market Share, By Type, 2021

Figure 81: Germany Residential Solar PV Inverter Market Share, By Application, 2021

Figure 82: U.K. Residential Solar PV Inverter Market Value (US$ Mn) and Forecast, 2022 - 2032

Figure 83: U.K. Residential Solar PV Inverter Market Share, By Type, 2021

Figure 84: U.K. Residential Solar PV Inverter Market Share, By Application, 2021

Figure 85: France Residential Solar PV Inverter Market Value (US$ Mn) and Forecast, 2022 - 2032

Figure 86: France Residential Solar PV Inverter Market Share, By Type, 2021

Figure 87: France Residential Solar PV Inverter Market Share, By Application, 2021

Figure 88: Italy Residential Solar PV Inverter Market Value (US$ Mn) and Forecast, 2022 - 2032

Figure 89: Italy Residential Solar PV Inverter Market Share, By Type, 2021

Figure 90: Italy Residential Solar PV Inverter Market Share, By Application, 2021

Figure 91: BENELUX Residential Solar PV Inverter Market Value (US$ Mn) and Forecast, 2022 - 2032

Figure 92: BENELUX Residential Solar PV Inverter Market Share, By Type, 2021

Figure 93: BENELUX Residential Solar PV Inverter Market Share, By Application, 2021

Figure 94: Nordic Countries Residential Solar PV Inverter Market Value (US$ Mn) and Forecast, 2022 - 2032

Figure 95: Nordic Countries Residential Solar PV Inverter Market Share, By Type, 2021

Figure 96: Nordic Countries Residential Solar PV Inverter Market Share, By Application, 2021

Figure 97: China Residential Solar PV Inverter Market Value (US$ Mn) and Forecast, 2022 - 2032

Figure 98: China Residential Solar PV Inverter Market Share, By Type, 2021

Figure 99: China Residential Solar PV Inverter Market Share, By Application, 2021

Figure 100: Japan Residential Solar PV Inverter Market Value (US$ Mn) and Forecast, 2022 - 2032

Figure 101: Japan Residential Solar PV Inverter Market Share, By Type, 2021

Figure 102: Japan Residential Solar PV Inverter Market Share, By Application, 2021

Figure 103: South Korea Residential Solar PV Inverter Market Value (US$ Mn) and Forecast, 2022 - 2032

Figure 104: South Korea Residential Solar PV Inverter Market Share, By Type, 2021

Figure 105: South Korea Residential Solar PV Inverter Market Share, By Application, 2021

Figure 106: GCC Countries Residential Solar PV Inverter Market Value (US$ Mn) and Forecast, 2022 - 2032

Figure 107: GCC Countries Residential Solar PV Inverter Market Share, By Type, 2021

Figure 108: GCC Countries Residential Solar PV Inverter Market Share, By Application, 2021

Figure 109: South Africa Residential Solar PV Inverter Market Value (US$ Mn) and Forecast, 2022 - 2032

Figure 110: South Africa Residential Solar PV Inverter Market Share, By Type, 2021

Figure 111: South Africa Residential Solar PV Inverter Market Share, By Application, 2021

Figure 112: Turkey Residential Solar PV Inverter Market Value (US$ Mn) and Forecast, 2022 - 2032

Figure 113: Turkey Residential Solar PV Inverter Market Share, By Type, 2021

Figure 114: Turkey Residential Solar PV Inverter Market Share, By Application, 2021

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