According to our latest market study, titled “Solar Inverters Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, System Type, and End User,” the market is projected to reach US$ 16,327.06 million by 2028 from US$ 9,806.67 million in 2022. It is expected to grow at a CAGR of 8.9% from 2022 to 2028.

Increasing Investments in Renewable Energy Sector to Create Lucrative Opportunities for Solar Inverters Market during 2022–2028

Investment in solar energy has improved significantly along with economic growth. However, there are significant country-by-country variations. According to the International Energy Agency (IEA), global energy demand increased by 4.6% in 2021, offsetting the 4% contraction in 2020. The anticipated investment growth in 2021 was a mixture of a cyclical response to economic recovery and a structural shift in capital flows toward cleaner technologies. After staying flat in 2020, global power sector investment increased by around 5% in 2021 to more than US$ 820 billion, according to the IEA estimates. The Renewables energy sector dominates investment in new power generation. In 2021, it was estimated to account for 70% of the total of US$ 530 billion spent on all new generation capacity. Investment in the renewable energy sector has increased due to well-established supply chains and the presence of lenders and financiers who understand that these sectors are seeking sustainable projects.

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The need for solar inverters was prevalent during the pre-COVID-19 era because of the growing urban population. Due to the increasing population, infrastructural development was increasing. According to the article published by the Journal of Commerce Online, the US Department of Transportation (DOT) allocated grants of ~US$ 856 million to Infrastructure for Rebuilding America (INFRA) for constructing 20 projects across the US. Thus, the need for developing infrastructure supported the growth of the solar inverters market in North America.

In North America, the US, Canada, and Mexico witnessed a significant rise in COVID-19 patients in 2020. The COVID-19 pandemic resulted in economic challenges owing to subsequent lockdowns. In 2020, manufacturing industries were severely affected due to a drastic decrease in product demand, falling prices, and storage shortages. A swift decline in manufacturing revenues due to virtually nonexistent manufacturing demand and slow production capabilities has limited the expenditure on installing or upgrading existing solar inverters across various industries in North America.

PDF Sample Report covers Research Requirement, also including impact analysis of COVID-19 on Solar Inverters market.

Major Product Type of Solar Inverters Market Research report:

·         Central

·         String

·         Micro

End User Solar Inverters Market Research Report:

·         Residential

·         Commercial

·         Utility

Key Offerings:

·         Market Size & Forecast by Revenue | 2028

·         Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities

·         Market Segmentation – A detailed analysis by product, types, end-user, applications, segments, and geography

·         Competitive Landscape – Top key vendors and other prominent vendors.

Solar Inverters Market Regional and Country-wise Analysis:

·         North America (U.S., Canada, Mexico)

·         Europe (U.K., France, Germany, Spain, Italy, Central & Eastern Europe, CIS)

·         Asia Pacific (China, Japan, South Korea, ASEAN, India, Rest of Asia Pacific)

·         Latin America (Brazil, Rest of Latin America)

·         The Middle East and Africa (Turkey, GCC, Rest of the Middle East and Africa)

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Key Factors covered are:

1. To characterize, portray, and check the Solar Inverters market based on product type, application, and region.

2. To estimate and inspect the size of the Solar Inverters market (in terms of value) in six key regions, specifically, North and South America, Western Europe, Central & Eastern Europe, the Middle East, Africa, and the Asia-Pacific.

3. To estimate and inspect the Solar Inverters markets at country-level in every region.

4. To strategically investigate every sub-market about personal development trends and its contribution to the Solar Inverters market.

5. To look at possibilities in the Solar Inverters market for shareholder by recognizing excessive-growth segments of the market.

Key Highlights & Touch Points of the Solar Inverters Market Worldwide for the Forecast Year 2028

·         Broad data on variables that will enhance the development of the Solar Inverters market over the forthcoming years

·         Precise assessment of the worldwide Solar Inverters market size exact assessments of the forthcoming patterns and changes saw in the customer conduct

·         Development of the worldwide Solar Inverters market across the North and South America, Asia Pacific, EMEA, and Latin America

·         Data about Solar Inverters market development potential

·         Top to bottom investigation of the business' serious scene and itemized data opposite on different merchants

·         Outfitting of itemized data on the elements that will control the development of the Solar Inverters markets

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