Press release
Solar Inverters Market- Insights By Revenue, Upcoming Trends And Worldwide Players Foresights Till 2028
The global Solar Inverters Market is expected to grow from US$ 9,153.73 million in 2021 to US$ 16,327.06 million by 2028. It is estimated to grow at a CAGR of 8.9% during 2022-2028.The investment in solar energy has shown significant improvement with the growth of the economy; however, there are variations in investment levels from one country to another. According to estimates from the International Energy Agency (IEA), global energy demand had increased by 4.6% in 2021, which more than offsets the 4% contraction experienced in 2020. The anticipated increase in investments in 2021 is due to a combination of cyclical recovery in the economy and a structural shift in capital flows towards cleaner technologies.
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Analysis of the Top Market Players:
1. ABB Ltd
2. Delta Electronics, Inc.
3. Enertechups
4. GOODWE
5. Power Electronics S.L.
6. Powerone Micro Systems Pvt.Ltd
7. Sineng Electric
8. SMA Solar Technology AG
9. Solaredge Technologies Inc.
10. Hitachi Hi-Rel Power Electronics Pvt Ltd.
In this report, the market has been segmented on the basis of:
Type (Central, String, and Micro)
System Type (On-Grid and Off-Grid)
End User (Residential, Commercial, and Utility)
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According to the IEA estimates, global power sector investment has increased by about 5% in 2021 to over US$ 820 billion after remaining unchanged in 2020. The renewable energy sector has dominated investment in new power generation and is projected to account for 70% of the total US$ 530 billion investment in all new generation capacity in 2021, according to the latest IEA estimates. Investment in the renewable energy sector has grown in markets where well-established supply chains exist, and lenders and financiers are seeking sustainable projects to support.
Further, investment in the renewable energy sector in India surged more than 125% year-on-year to touch a record US$ 14.5 billion in the financial year 2021-22 (FY22), a report released by the Institute for Energy Economics and Financial Analysis (IEEFA) in June 2022. Conglomerates such as Reliance Industries (RIL) and the Adani group have ambitious plans to ramp up their renewable energy capacity.
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