1	INTRODUCTION	37
1.1	STUDY OBJECTIVES	37
1.2	MARKET DEFINITION	37
1.2.1	INVERTER MARKET, BY OUTPUT POWER RATING: INCLUSIONS AND EXCLUSIONS	38
1.2.2	INVERTER MARKET, BY END USER: INCLUSIONS AND EXCLUSIONS	38
1.2.3	INVERTER MARKET, BY TYPE: INCLUSIONS AND EXCLUSIONS	38
1.2.4	INVERTER MARKET, BY OUTPUT VOLTAGE: INCLUSIONS AND EXCLUSIONS	39
1.2.5	INVERTER MARKET, BY CONNECTION TYPE: INCLUSIONS AND EXCLUSIONS	39
1.2.6	INVERTER MARKET, BY SALES CHANNEL: INCLUSIONS AND EXCLUSIONS	39
1.3	STUDY SCOPE	40
1.3.1	MARKETS COVERED	40
FIGURE 1	INVERTER MARKET: SEGMENTATION	40
1.3.2	REGIONAL SCOPE	40
1.3.3	YEARS CONSIDERED	41
1.3.4	CURRENCY CONSIDERED	41
1.3.5	UNITS CONSIDERED	41
1.4	LIMITATIONS	41
1.5	STAKEHOLDERS	42
1.6	SUMMARY OF CHANGES	42
1.7	RECESSION IMPACT	42
2	RESEARCH METHODOLOGY	43
2.1	RESEARCH DATA	43
FIGURE 2	INVERTER MARKET: RESEARCH DESIGN	43
2.1.1	SECONDARY DATA	44
2.1.1.1	Key data from secondary sources	44
2.1.1.2	List of key secondary sources	44
2.1.2	PRIMARY DATA	45
2.1.2.1	List of key primary interview participants	45
2.1.2.2	Primary interviews with experts	45
2.1.2.3	Breakdown of primaries	45
2.2	DATA TRIANGULATION	46
FIGURE 3	DATA TRIANGULATION	47
2.3	RESEARCH SCOPE	47
FIGURE 4	MAIN METRICS CONSIDERED TO ANALYZE AND ASSESS DEMAND  FOR INVERTERS	48
2.4	MARKET SIZE ESTIMATION	48
2.4.1	BOTTOM-UP APPROACH	48
FIGURE 5	MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH	49
2.4.2	TOP-DOWN APPROACH	49
FIGURE 6	MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH	50
2.4.3	DEMAND-SIDE ANALYSIS	51
2.4.3.1	Regional analysis	51
2.4.3.2	Country-level analysis	52
2.4.3.3	Assumptions for demand-side analysis	52
2.4.3.4	Calculations for demand-side analysis	52
2.4.4	SUPPLY-SIDE ANALYSIS	53
FIGURE 7	KEY STEPS CONSIDERED TO ASSESS SUPPLY OF INVERTERS	53
FIGURE 8	INVERTER MARKET: SUPPLY-SIDE ANALYSIS	53
2.4.4.1	Assumptions for supply-side analysis	54
2.4.4.2	Calculations for supply-side analysis	54
FIGURE 9	COMPANY REVENUE ANALYSIS, 2023	54
2.4.5	GROWTH FORECAST	54
2.5	RISK ASSESSMENT	55
2.6	IMPACT OF RECESSION ON INVERTER MARKET	55
3	EXECUTIVE SUMMARY	56
TABLE 1	INVERTER MARKET SNAPSHOT	56
FIGURE 10	INVERTER MARKET IN ASIA PACIFIC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD	57
FIGURE 11	BELOW 10 KW SEGMENT TO LEAD INVERTER MARKET IN 2028	58
FIGURE 12	100–300 V SEGMENT TO DOMINATE INVERTER MARKET IN 2028	58
FIGURE 13	RESIDENTIAL SEGMENT TO HOLD LARGEST SHARE OF INVERTER  MARKET IN 2028	59
FIGURE 14	SOLAR INVERTER SEGMENT TO LEAD INVERTER MARKET IN 2028	59
FIGURE 15	STANDALONE SEGMENT TO DOMINATE INVERTER MARKET IN 2028	60
FIGURE 16	INDIRECT SEGMENT TO HOLD LARGER SHARE OF INVERTER MARKET IN 2028	61
4	PREMIUM INSIGHTS	62
4.1	ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN INVERTER MARKET	62
FIGURE 17	INCREASING ADOPTION OF RENEWABLE ENERGY SOURCES TO CREATE LUCRATIVE OPPORTUNITIES FOR MARKET PLAYERS DURING FORECAST PERIOD	62
4.2	INVERTER MARKET IN ASIA PACIFIC, BY END USER AND COUNTRY	63
FIGURE 18	RESIDENTIAL SEGMENT AND CHINA TO HOLD LARGEST SHARES OF INVERTER MARKET IN ASIA PACIFIC IN 2023	63
4.3	INVERTER MARKET, BY OUTPUT POWER RATING	63
FIGURE 19	BELOW 10 KW SEGMENT TO DOMINATE INVERTER MARKET IN 2028	63
4.4	INVERTER MARKET, BY OUTPUT VOLTAGE	64
FIGURE 20	100–300 V SEGMENT TO ACCOUNT FOR LARGEST SHARE OF INVERTER MARKET IN 2028	64
4.5	INVERTER MARKET, BY END USER	64
FIGURE 21	RESIDENTIAL SEGMENT TO HOLD LARGEST SHARE OF INVERTER MARKET IN 2028	64
4.6	INVERTER MARKET, BY INVERTER TYPE	65
FIGURE 22	SOLAR INVERTER SEGMENT TO DOMINATE INVERTER MARKET IN 2028	65
4.7	INVERTER MARKET, BY CONNECTION TYPE	65
FIGURE 23	STANDALONE SEGMENT TO ACCOUNT FOR LARGER SHARE OF INVERTER MARKET IN 2028	65
4.8	INVERTER MARKET, BY SALES CHANNEL	65
FIGURE 24	INDIRECT SEGMENT TO HOLD LARGER SHARE OF INVERTER MARKET IN 2028	65
5	MARKET OVERVIEW	66
5.1	INTRODUCTION	66
5.2	MARKET DYNAMICS	66
FIGURE 25	INVERTER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES	66
5.2.1	DRIVERS	67
5.2.1.1	Increasing investments in renewable energy sector	67
FIGURE 26	NET SOLAR PV ELECTRICITY CAPACITY ADDITIONS, BY REGION, 2022–2024	67
FIGURE 27	GLOBAL INVESTMENTS IN CLEAN ENERGY GENERATION,  2015–2023 (USD BILLION)	68
5.2.1.2	Rising number of solar installations attributed to government-led initiatives and schemes	68
5.2.1.3	Increasing residential solar rooftop installations	69
5.2.2	RESTRAINTS	70
5.2.2.1	Safety risks associated with high DC voltages	70
5.2.2.2	Strain on batteries due to prolonged use of inverters	70
5.2.3	OPPORTUNITIES	71
5.2.3.1	Growing demand for electric vehicles	71
5.2.3.2	Increasing investments in development of smart grids	72
5.2.3.3	Demand for high-power density inverters	73
5.2.4	CHALLENGES	73
5.2.4.1	Availability of cost-effective products in gray market leading to pricing pressure on manufacturers	73
5.3	TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES	74
FIGURE 30	TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES	74
5.4	ECOSYSTEM MAPPING	75
TABLE 2	ROLE OF PLAYERS IN INVERTER ECOSYSTEM	75
FIGURE 31	ECOSYSTEM MAPPING	76
5.5	VALUE CHAIN ANALYSIS	76
FIGURE 32	INVERTER MARKET: VALUE CHAIN ANALYSIS	76
5.5.1	RAW MATERIAL PROVIDERS/COMPONENT MANUFACTURERS/SUPPLIERS	77
5.5.2	INVERTER MANUFACTURERS/ASSEMBLERS	77
5.5.3	DISTRIBUTORS/RESELLERS	77
5.5.4	END USERS	77
5.5.5	MAINTENANCE/SERVICE PROVIDERS	77
5.6	TECHNOLOGY ANALYSIS	77
5.6.1	Z-SOURCE INVERTERS	77
5.6.2	SOLAR MICRO INVERTERS	78
5.6.3	SMART INVERTERS	78
5.7	PATENT ANALYSIS	79
FIGURE 33	INVERTER MARKET: PATENT REGISTRATIONS, 2012–2022	79
TABLE 3	INVERTER MARKET: INNOVATIONS AND PATENT REGISTRATIONS, 2019–2023	80
5.8	TRADE ANALYSIS	83
5.8.1	IMPORT SCENARIO	83
FIGURE 34	IMPORT DATA FOR HS CODE 850440-COMPLIANT PRODUCTS, BY TOP FIVE COUNTRIES, 2020–2022 (USD THOUSAND)	83
TABLE 4	IMPORT DATA FOR HS CODE 850440-COMPLIANT PRODUCTS, BY COUNTRY, 2020–2022 (USD THOUSAND)	84
5.8.2	EXPORT SCENARIO	85
FIGURE 35	EXPORT DATA FOR HS CODE 850440-COMPLIANT PRODUCTS, BY TOP FIVE COUNTRIES, 2020–2022 (USD THOUSAND)	85
TABLE 5	EXPORT DATA FOR HS CODE 850440-COMPLIANT PRODUCTS, BY COUNTRY, 2020–2022 (USD THOUSAND)	85
5.9	PRICING ANALYSIS	86
FIGURE 36	AVERAGE SELLING PRICE (ASP) TREND OF INVERTERS, BY TYPE,  2021–2023 (USD/UNIT)	86
TABLE 6	AVERAGE SELLING PRICE (ASP) TREND OF INVERTERS, BY TYPE,  2021–2023 (USD/UNIT)	86
FIGURE 37	AVERAGE SELLING PRICE (ASP) TREND OF INVERTERS, BY REGION,  2021–2023 (USD/UNIT)	87
TABLE 7	AVERAGE SELLING PRICE (ASP) TREND OF INVERTERS, BY REGION,  2021–2023 (USD/UNIT)	87
5.10	TARIFFS, STANDARDS, AND REGULATORY LANDSCAPE	88
5.10.1	REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	88
TABLE 8	NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	88
TABLE 9	EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS	88
TABLE 10	ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS	89
TABLE 11	ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS	89
TABLE 12	GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS	90
5.10.2	STANDARDS	90
TABLE 13	GLOBAL: STANDARDS	90
5.10.3	TARIFFS	91
TABLE 14	IMPORT TARIFF FOR HS CODE 850440-COMPLIANT PRODUCTS, 2022	92
5.11	PORTER’S FIVE FORCES ANALYSIS	93
FIGURE 38	INVERTER MARKET: PORTER’S FIVE FORCES ANALYSIS	93
TABLE 15	INVERTER MARKET: PORTER’S FIVE FORCES ANALYSIS	94
5.11.1	THREAT OF SUBSTITUTES	94
5.11.2	BARGAINING POWER OF SUPPLIERS	94
5.11.3	BARGAINING POWER OF BUYERS	94
5.11.4	THREAT OF NEW ENTRANTS	95
5.11.5	INTENSITY OF COMPETITIVE RIVALRY	95
5.12	CASE STUDY ANALYSIS	95
5.12.1	SOLAR POWER PLANT IN BARGAS, SPAIN, TO DEPLOY TURNKEY SOLUTION BY SUNGROW	95
5.12.2	MAN TRUCKS & BUSES, SOUTH AFRICA, TO GO GREEN WITH GOODWE INVERTERS	96
5.12.3	FIVE MID-LARGE SCALE SOLAR FARM PROJECTS IN REGIONAL SOUTH AUSTRALIA TO USE INVERTER BY FIMER	96
5.13	KEY STAKEHOLDERS AND BUYING CRITERIA	97
5.13.1	KEY STAKEHOLDERS IN BUYING PROCESS	97
FIGURE 39	INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS FOR  TOP THREE END USERS	97
TABLE 16	INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS	97
5.13.2	BUYING CRITERIA	98
FIGURE 40	KEY BUYING CRITERIA FOR TOP THREE END USERS	98
TABLE 17	KEY BUYING CRITERIA FOR TOP THREE END USERS	98
5.14	KEY CONFERENCES AND EVENTS, 2024	99
TABLE 18	INVERTER MARKET: LIST OF KEY CONFERENCES AND EVENTS, 2024	99
6	INVERTER MARKET, BY OUTPUT POWER RATING	100
6.1	INTRODUCTION	101
FIGURE 41	INVERTER MARKET, BY OUTPUT POWER RATING, 2023	101
TABLE 19	INVERTER MARKET, BY OUTPUT POWER RATING, 2020–2022 (USD MILLION)	101
TABLE 20	INVERTER MARKET, BY OUTPUT POWER RATING, 2023–2028 (USD MILLION)	102
6.2	BELOW 10 KW	102
6.2.1	RISING DEMAND FROM RESIDENTIAL SECTOR TO CONTRIBUTE TO MARKET GROWTH	102
TABLE 21	BELOW 10 KW: INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	102
TABLE 22	BELOW 10 KW: INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	103
6.3	10–50 KW	103
6.3.1	INCREASING DEPLOYMENT IN EXPANDING COMMERCIAL SECTOR TO FUEL DEMAND	103
TABLE 23	10–50 KW: INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	103
TABLE 24	10–50 KW: INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	104
6.4	51–100 KW	104
6.4.1	GROWING DEMAND FROM PV PLANTS AND VARIOUS INDUSTRIES TO BOOST MARKET GROWTH	104
TABLE 25	51–100 KW: INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	104
TABLE 26	51–100 KW: INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	105
6.5	ABOVE 100 KW	105
6.5.1	RISING NUMBER OF PV PLANTS AND EXPANDING AUTOMOTIVE INDUSTRY TO DRIVE MARKET	105
TABLE 27	ABOVE 100 KW: INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	105
TABLE 28	ABOVE 100 KW: INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	106
7	INVERTER MARKET, BY END USER	107
7.1	INTRODUCTION	108
FIGURE 42	INVERTER MARKET, BY END USER, 2023 (USD MILLION)	108
TABLE 29	INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	108
TABLE 30	INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	109
7.2	RESIDENTIAL	109
7.2.1	RISING GOVERNMENT INITIATIVES TO INCREASE RENEWABLE ENERGY ACCESS FOR HOUSEHOLDS TO DRIVE MARKET	109
TABLE 31	RESIDENTIAL: INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	109
TABLE 32	RESIDENTIAL: INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	110
7.3	AUTOMOTIVE	110
7.3.1	GROWING ADOPTION OF ELECTRIC VEHICLES TO FUEL DEMAND	110
TABLE 33	AUTOMOTIVE: INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	110
TABLE 34	AUTOMOTIVE: INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	111
7.4	PHOTOVOLTAIC (PV) PLANTS	111
7.4.1	INCREASING IMPLEMENTATION OF RENEWABLE ENERGY POLICIES IN SEVERAL COUNTRIES TO FOSTER MARKET GROWTH	111
TABLE 35	PHOTOVOLTAIC (PV) PLANTS: INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	111
TABLE 36	PHOTOVOLTAIC (PV) PLANTS: INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	112
7.5	OTHERS	112
TABLE 37	OTHERS: INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	112
TABLE 38	OTHERS: INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	113
8	INVERTER MARKET, BY TYPE	114
8.1	INTRODUCTION	115
FIGURE 43	INVERTER MARKET, BY TYPE, 2023 (USD MILLION)	115
TABLE 39	INVERTER MARKET, BY TYPE, 2020–2022 (USD MILLION)	115
TABLE 40	INVERTER MARKET, BY TYPE, 2023–2028 (USD MILLION)	116
TABLE 41	INVERTER MARKET, BY TYPE, 2020–2022 (THOUSAND UNITS)	116
TABLE 42	INVERTER MARKET, BY TYPE, 2023–2028 (THOUSAND UNITS)	116
8.2	SOLAR INVERTER	116
TABLE 43	SOLAR INVERTER: INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	117
TABLE 44	SOLAR INVERTER: INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	117
TABLE 45	SOLAR INVERTER: INVERTER MARKET, BY SUB-TYPE, 2020–2022 (USD MILLION)	117
TABLE 46	SOLAR INVERTER: INVERTER MARKET, BY SUB-TYPE, 2023–2028 (USD MILLION)	118
8.2.1	CENTRAL INVERTER	118
8.2.1.1	Rising demand from PV plants to drive market	118
TABLE 47	CENTRAL INVERTER: INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	118
TABLE 48	CENTRAL INVERTER: INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	119
8.2.2	STRING INVERTER	119
8.2.2.1	Rising installation of solar panels in residential and commercial sectors to boost market growth	119
TABLE 49	STRING INVERTER: INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	119
TABLE 50	STRING INVERTER: INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	120
8.2.3	MICRO INVERTER	120
8.2.3.1	Increasing demand for micro inverters in residential sector to fuel market growth	120
TABLE 51	MICRO INVERTER: INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	120
TABLE 52	MICRO INVERTER: INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	121
8.2.4	HYBRID INVERTER	121
8.2.4.1	Multiple benefits of hybrid inverters to drive market	121
TABLE 53	HYBRID INVERTER: INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	121
TABLE 54	HYBRID INVERTER: INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	122
8.3	VEHICLE INVERTER	122
TABLE 55	VEHICLE INVERTER: INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	122
TABLE 56	VEHICLE INVERTER: INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	123
TABLE 57	VEHICLE INVERTER: INVERTER MARKET, BY SUB-TYPE, 2020–2022 (USD MILLION)	123
TABLE 58	VEHICLE INVERTER: INVERTER MARKET, BY SUB-TYPE, 2023–2028 (USD MILLION)	123
8.3.1	BATTERY ELECTRIC VEHICLE (BEV)	123
8.3.1.1	Favorable government initiatives related to EVs to propel market	123
TABLE 59	BATTERY ELECTRIC VEHICLE (BEV): INVERTER MARKET, BY REGION,  2020–2022 (USD MILLION)	124
TABLE 60	BATTERY ELECTRIC VEHICLE (BEV): INVERTER MARKET, BY REGION,  2023–2028 (USD MILLION)	124
8.3.2	HYBRID ELECTRIC VEHICLE (HEV)	124
8.3.2.1	Increased demand for fuel-efficient vehicles and implementation of stringent emission norms to fuel market growth	124
TABLE 61	HYBRID ELECTRIC VEHICLE (HEV): INVERTER MARKET, BY REGION,  2020–2022 (USD MILLION)	125
TABLE 62	HYBRID ELECTRIC VEHICLE (BEV): INVERTER MARKET, BY REGION,  2023–2028 (USD MILLION)	125
8.3.3	PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV)	126
8.3.3.1	Rising demand for EVs to boost market growth	126
TABLE 63	PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV): INVERTER MARKET, BY REGION,  2020–2022 (USD MILLION)	126
TABLE 64	PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV): INVERTER MARKET, BY REGION,  2023–2028 (USD MILLION)	126
8.4	OTHERS	127
TABLE 65	OTHERS: INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	127
TABLE 66	OTHERS: INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	127
9	INVERTER MARKET, BY OUTPUT VOLTAGE	128
9.1	INTRODUCTION	129
FIGURE 44	INVERTER MARKET, BY OUTPUT VOLTAGE, 2023 (USD MILLION)	129
TABLE 67	INVERTER MARKET, BY OUTPUT VOLTAGE, 2020–2022 (USD MILLION)	129
TABLE 68	INVERTER MARKET, BY OUTPUT VOLTAGE, 2023–2028 (USD MILLION)	130
9.2	100–300 V	130
9.2.1	RISING ELECTRICITY DEMAND DUE TO URBANIZATION TO DRIVE MARKET	130
TABLE 69	100–300 V: INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	130
TABLE 70	100–300 V: INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	131
9.3	301–500 V	131
9.3.1	GROWING REQUIREMENT FOR UNINTERRUPTED POWER SUPPLY FROM COMMERCIAL AND INDUSTRIAL SECTORS TO FUEL MARKET GROWTH	131
TABLE 71	301–500 V: INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	131
TABLE 72	301–500 V: INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	132
9.4	ABOVE 500 V	132
9.4.1	INCREASING INVESTMENTS IN POWER INFRASTRUCTURE DEVELOPMENT TO CONTRIBUTE TO MARKET GROWTH	132
TABLE 73	500 V: INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	132
TABLE 74	500 V: INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	133
10	INVERTER MARKET, BY CONNECTION TYPE	134
10.1	INTRODUCTION	135
FIGURE 45	INVERTER MARKET, CONNECTION TYPE, 2023 (USD MILLION)	135
TABLE 75	INVERTER MARKET, BY CONNECTION TYPE, 2020–2022 (USD MILLION)	135
TABLE 76	INVERTER MARKET, BY CONNECTION TYPE, 2023–2028 (USD MILLION)	136
10.2	STANDALONE	136
10.2.1	RISING ELECTRICITY CONSUMPTION AND DEPENDENCE ON ELECTRONIC DEVICES TO BOOST MARKET	136
TABLE 77	STANDALONE: INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	136
TABLE 78	STANDALONE: INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	137
10.3	GRID-TIED	137
TABLE 79	GRID-TIED: INVERTER MARKET, BY SUB-TYPE, 2020–2022 (USD MILLION)	137
TABLE 80	GRID-TIED: INVERTER MARKET, BY SUB-TYPE, 2023–2028 (USD MILLION)	138
10.3.1	CONVENTIONAL INVERTER	138
10.3.1.1	Increasing installation of solar PV systems in residential and commercial sectors to propel market	138
TABLE 81	CONVENTIONAL INVERTER: INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	138
TABLE 82	CONVENTIONAL INVERTER: INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	139
10.3.2	SMART INVERTER	139
10.3.2.1	Technological advancements in grid-tied inverters to drive market	139
TABLE 83	SMART INVERTER: INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	139
TABLE 84	SMART INVERTER: INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	140
11	INVERTER MARKET, BY SALES CHANNEL	141
11.1	INTRODUCTION	142
FIGURE 46	INVERTER MARKET, BY SALES CHANNEL, 2023 (USD MILLION)	142
TABLE 85	INVERTER MARKET, BY SALES CHANNEL, 2020–2022 (USD MILLION)	142
TABLE 86	INVERTER MARKET, BY SALES CHANNEL, 2023–2028 (USD MILLION)	143
11.2	DIRECT	143
11.2.1	RISING PREFERENCE FOR DIRECT PROCUREMENT OF VEHICLE INVERTERS AMONG AUTOMOBILE MANUFACTURERS TO DRIVE MARKET	143
TABLE 87	DIRECT: INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	143
TABLE 88	DIRECT: INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	144
11.3	INDIRECT	144
11.3.1	INCREASING ADOPTION OF INVERTERS IN RESIDENTIAL SECTOR AND PV PLANTS TO CONTRIBUTE TO MARKET GROWTH	144
TABLE 89	INDIRECT: INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	144
TABLE 90	INDIRECT: INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	145
12	INVERTER MARKET, BY REGION	146
12.1	INTRODUCTION	147
FIGURE 47	INVERTER MARKET, BY REGION, 2023	147
FIGURE 48	ASIA PACIFIC TO REGISTER HIGHEST CAGR IN INVERTER MARKET DURING FORECAST PERIOD	148
TABLE 91	INVERTER MARKET, BY REGION, 2020–2022 (USD MILLION)	148
TABLE 92	INVERTER MARKET, BY REGION, 2023–2028 (USD MILLION)	148
TABLE 93	INVERTER MARKET, BY REGION, 2020–2022 (THOUSAND UNITS)	149
TABLE 94	INVERTER MARKET, BY REGION, 2023–2028 (THOUSAND UNITS)	149
TABLE 95	INVERTER MARKET, BY OUTPUT POWER RATING, 2020–2022 (USD MILLION)	149
TABLE 96	INVERTER MARKET, BY OUTPUT POWER RATING, 2023–2028 (USD MILLION)	150
TABLE 97	INVERTER MARKET, BY OUTPUT VOLTAGE, 2020–2022 (USD MILLION)	150
TABLE 98	INVERTER MARKET, BY OUTPUT VOLTAGE, 2023–2028 (USD MILLION)	150
TABLE 99	INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	150
TABLE 100	INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	151
TABLE 101	INVERTER MARKET, BY TYPE, 2020–2022 (USD MILLION)	151
TABLE 102	INVERTER MARKET, BY TYPE, 2023–2028 (USD MILLION)	151
TABLE 103	INVERTER MARKET, BY TYPE, 2020–2022 (THOUSAND UNITS)	151
TABLE 104	INVERTER MARKET, BY TYPE, 2023–2028 (THOUSAND UNITS)	152
TABLE 105	INVERTER MARKET, BY CONNECTION TYPE, 2020–2022 (USD MILLION)	152
TABLE 106	INVERTER MARKET, BY CONNECTION TYPE, 2023–2028 (USD MILLION)	152
TABLE 107	INVERTER MARKET, BY SALES CHANNEL, 2020–2022 (USD MILLION)	152
TABLE 108	INVERTER MARKET, BY SALES CHANNEL, 2023–2028 (USD MILLION)	153
12.2	NORTH AMERICA	153
FIGURE 49	NORTH AMERICA: INVERTER MARKET SNAPSHOT	154
12.2.1	IMPACT OF RECESSION ON INVERTER MARKET IN NORTH AMERICA	154
TABLE 109	NORTH AMERICA: INVERTER MARKET, BY OUTPUT POWER RATING,  2020–2022 (USD MILLION)	155
TABLE 110	NORTH AMERICA: INVERTER MARKET, BY OUTPUT POWER RATING,  2023–2028 (USD MILLION)	155
TABLE 111	NORTH AMERICA: INVERTER MARKET, BY OUTPUT VOLTAGE, 2020–2022 (USD MILLION)	155
TABLE 112	NORTH AMERICA: INVERTER MARKET, BY OUTPUT VOLTAGE, 2023–2028 (USD MILLION)	155
TABLE 113	NORTH AMERICA: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	156
TABLE 114	NORTH AMERICA: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	156
TABLE 115	NORTH AMERICA: INVERTER MARKET, BY TYPE, 2020–2022 (USD MILLION)	156
TABLE 116	NORTH AMERICA: INVERTER MARKET, BY TYPE, 2023–2028 (USD MILLION)	156
TABLE 117	NORTH AMERICA: INVERTER MARKET, BY TYPE, 2020–2022 (THOUSAND UNITS)	157
TABLE 118	NORTH AMERICA: INVERTER MARKET, BY TYPE, 2023–2028 (THOUSAND UNITS)	157
TABLE 119	NORTH AMERICA: INVERTER MARKET, BY CONNECTION TYPE, 2020–2022 (USD MILLION)	157
TABLE 120	NORTH AMERICA: INVERTER MARKET, BY CONNECTION TYPE, 2023–2028 (USD MILLION)	157
TABLE 121	NORTH AMERICA: INVERTER MARKET, BY SALES CHANNEL, 2020–2022 (USD MILLION)	158
TABLE 122	NORTH AMERICA: INVERTER MARKET, BY SALES CHANNEL, 2023–2028 (USD MILLION)	158
TABLE 123	NORTH AMERICA: INVERTER MARKET, BY COUNTRY, 2020–2022 (USD MILLION)	158
TABLE 124	NORTH AMERICA: INVERTER MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	158
12.2.1.1	US	159
12.2.1.1.1	Favorable government policies for renewable energy generation to drive market	159
TABLE 125	US: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	159
TABLE 126	US: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	160
12.2.1.2	Canada	160
12.2.1.2.1	Rise in residential PV installations to fuel market growth	160
TABLE 127	CANADA: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	160
TABLE 128	CANADA: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	161
12.2.1.3	Mexico	161
12.2.1.3.1	Increased deployment of clean energy sources in various applications to contribute to market growth	161
TABLE 129	MEXICO: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	161
TABLE 130	MEXICO: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	162
12.3	MIDDLE EAST & AFRICA	162
12.3.1	IMPACT OF RECESSION ON INVERTER MARKET IN MIDDLE EAST & AFRICA	162
TABLE 131	MIDDLE EAST & AFRICA: INVERTER MARKET, BY OUTPUT POWER RATING,  2020–2022 (USD MILLION)	163
TABLE 132	MIDDLE EAST & AFRICA: INVERTER MARKET, BY OUTPUT POWER RATING,  2023–2028 (USD MILLION)	163
TABLE 133	MIDDLE EAST & AFRICA: INVERTER MARKET, BY OUTPUT VOLTAGE,  2020–2022 (USD MILLION)	163
TABLE 134	MIDDLE EAST & AFRICA: INVERTER MARKET, BY OUTPUT VOLTAGE,  2023–2028 (USD MILLION)	164
TABLE 135	MIDDLE EAST & AFRICA: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	164
TABLE 136	MIDDLE EAST & AFRICA: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	164
TABLE 137	MIDDLE EAST & AFRICA: INVERTER MARKET, BY TYPE, 2020–2022 (USD MILLION)	164
TABLE 138	MIDDLE EAST & AFRICA: INVERTER MARKET, BY TYPE, 2023–2028 (USD MILLION)	165
TABLE 139	MIDDLE EAST & AFRICA: INVERTER MARKET, BY TYPE, 2020–2022 (THOUSAND UNITS)	165
TABLE 140	MIDDLE EAST & AFRICA: INVERTER MARKET, BY TYPE, 2023–2028 (THOUSAND UNITS)	165
TABLE 141	MIDDLE EAST & AFRICA: INVERTER MARKET, BY CONNECTION TYPE,  2020–2022 (USD MILLION)	165
TABLE 142	MIDDLE EAST & AFRICA: INVERTER MARKET, BY CONNECTION TYPE,  2023–2028 (USD MILLION)	166
TABLE 143	MIDDLE EAST & AFRICA: INVERTER MARKET, BY SALES CHANNEL,  2020–2022 (USD MILLION)	166
TABLE 144	MIDDLE EAST & AFRICA: INVERTER MARKET, BY SALES CHANNEL,  2023–2028 (USD MILLION)	166
TABLE 145	MIDDLE EAST & AFRICA: INVERTER MARKET, BY COUNTRY, 2020–2022 (USD MILLION)	166
TABLE 146	MIDDLE EAST & AFRICA: INVERTER MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	167
12.3.2	GCC COUNTRIES	167
12.3.2.1	Saudi Arabia	167
12.3.2.1.1	Increasing power generation from solar resources to fuel demand	167
TABLE 147	SAUDI ARABIA: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	167
TABLE 148	SAUDI ARABIA: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	168
12.3.2.2	UAE	168
12.3.2.2.1	Expansion of EV charging infrastructure to create demand	168
TABLE 149	UAE: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	168
TABLE 150	UAE: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	169
12.3.3	SOUTH AFRICA	169
12.3.3.1	Expanding automotive industry and establishment of PV plants to contribute to market growth	169
TABLE 151	SOUTH AFRICA: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	169
TABLE 152	SOUTH AFRICA: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	170
12.3.4	REST OF MIDDLE EAST & AFRICA	170
TABLE 153	REST OF MIDDLE EAST & AFRICA: INVERTER MARKET, BY END USER,  2020–2022 (USD MILLION)	170
TABLE 154	REST OF MIDDLE EAST & AFRICA: INVERTER MARKET, BY END USER,  2023–2028 (USD MILLION)	170
12.4	SOUTH AMERICA	171
12.4.1	IMPACT OF RECESSION ON INVERTER MARKET IN SOUTH AMERICA	171
TABLE 155	SOUTH AMERICA: INVERTER MARKET, BY OUTPUT POWER RATING,  2020–2022 (USD MILLION)	171
TABLE 156	SOUTH AMERICA: INVERTER MARKET, BY OUTPUT POWER RATING,  2023–2028 (USD MILLION)	171
TABLE 157	SOUTH AMERICA: INVERTER MARKET, BY OUTPUT VOLTAGE, 2020–2022 (USD MILLION)	172
TABLE 158	SOUTH AMERICA: INVERTER MARKET, BY OUTPUT VOLTAGE, 2023–2028 (USD MILLION)	172
TABLE 159	SOUTH AMERICA: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	172
TABLE 160	SOUTH AMERICA: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	172
TABLE 161	SOUTH AMERICA: INVERTER MARKET, BY TYPE, 2020–2022 (USD MILLION)	173
TABLE 162	SOUTH AMERICA: INVERTER MARKET, BY TYPE, 2023–2028 (USD MILLION)	173
TABLE 163	SOUTH AMERICA: INVERTER MARKET, BY TYPE, 2020–2022 (THOUSAND UNITS)	173
TABLE 164	SOUTH AMERICA: INVERTER MARKET, BY TYPE, 2023–2028 (THOUSAND UNITS)	173
TABLE 165	SOUTH AMERICA: INVERTER MARKET, BY CONNECTION TYPE, 2020–2022 (USD MILLION)	174
TABLE 166	SOUTH AMERICA: INVERTER MARKET, BY CONNECTION TYPE, 2023–2028 (USD MILLION)	174
TABLE 167	SOUTH AMERICA: INVERTER MARKET, BY SALES CHANNEL, 2020–2022 (USD MILLION)	174
TABLE 168	SOUTH AMERICA: INVERTER MARKET, BY SALES CHANNEL, 2023–2028 (USD MILLION)	174
TABLE 169	SOUTH AMERICA: INVERTER MARKET, BY COUNTRY, 2020–2022 (USD MILLION)	175
TABLE 170	SOUTH AMERICA: INVERTER MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	175
12.4.1.1	Brazil	175
12.4.1.1.1	Increasing investments in solar technology to propel demand	175
TABLE 171	BRAZIL: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	176
TABLE 172	BRAZIL: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	176
12.4.1.2	Argentina	176
12.4.1.2.1	Government incentives to promote solar energy generation to boost market growth	176
TABLE 173	ARGENTINA: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	177
TABLE 174	ARGENTINA: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	177
12.4.1.3	Rest of South America	177
TABLE 175	REST OF SOUTH AMERICA: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	177
TABLE 176	REST OF SOUTH AMERICA: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	178
12.5	ASIA PACIFIC	178
FIGURE 50	ASIA PACIFIC: INVERTER MARKET SNAPSHOT	179
12.5.1	IMPACT OF RECESSION ON INVERTER MARKET IN ASIA PACIFIC	180
TABLE 177	ASIA PACIFIC: INVERTER MARKET, BY OUTPUT POWER RATING,  2020–2022 (USD MILLION)	180
TABLE 178	ASIA PACIFIC: INVERTER MARKET, BY OUTPUT POWER RATING,  2023–2028 (USD MILLION)	180
TABLE 179	ASIA PACIFIC: INVERTER MARKET, BY OUTPUT VOLTAGE, 2020–2022 (USD MILLION)	180
TABLE 180	ASIA PACIFIC: INVERTER MARKET, BY OUTPUT VOLTAGE, 2023–2028 (USD MILLION)	181
TABLE 181	ASIA PACIFIC: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	181
TABLE 182	ASIA PACIFIC: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	181
TABLE 183	ASIA PACIFIC: INVERTER MARKET, BY TYPE, 2020–2022 (USD MILLION)	181
TABLE 184	ASIA PACIFIC: INVERTER MARKET, BY TYPE, 2023–2028 (USD MILLION)	182
TABLE 185	ASIA PACIFIC: INVERTER MARKET, BY TYPE, 2020–2022 (THOUSAND UNITS)	182
TABLE 186	ASIA PACIFIC: INVERTER MARKET, BY TYPE, 2023–2028 (THOUSAND UNITS)	182
TABLE 187	ASIA PACIFIC: INVERTER MARKET, BY CONNECTION TYPE, 2020–2022 (USD MILLION)	182
TABLE 188	ASIA PACIFIC: INVERTER MARKET, BY CONNECTION TYPE, 2023–2028 (USD MILLION)	183
TABLE 189	ASIA PACIFIC: INVERTER MARKET, BY SALES CHANNEL, 2020–2022 (USD MILLION)	183
TABLE 190	ASIA PACIFIC: INVERTER MARKET, BY SALES CHANNEL, 2023–2028 (USD MILLION)	183
TABLE 191	ASIA PACIFIC: INVERTER MARKET, BY COUNTRY, 2020–2022 (USD MILLION)	183
TABLE 192	ASIA PACIFIC: INVERTER MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	184
12.5.1.1	China	184
12.5.1.1.1	Rising electricity demand due to automation of various sectors to fuel market growth	184
TABLE 193	CHINA: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	185
TABLE 194	CHINA: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	185
12.5.1.2	India	185
12.5.1.2.1	Increase in number of solar rooftop installations to contribute to demand	185
TABLE 195	INDIA: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	186
TABLE 196	INDIA: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	186
12.5.1.3	Australia	186
12.5.1.3.1	Favorable government policies to achieve net-zero target to boost market growth	186
TABLE 197	AUSTRALIA: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	187
TABLE 198	AUSTRALIA: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	187
12.5.1.4	Japan	187
12.5.1.4.1	Rising investments in renewable energy technologies to reduce GHG emissions to drive market	187
TABLE 199	JAPAN: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	188
TABLE 200	JAPAN: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	188
12.5.1.5	Rest of Asia Pacific	188
TABLE 201	REST OF ASIA PACIFIC: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	189
TABLE 202	REST OF ASIA PACIFIC: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	189
12.6	EUROPE	189
12.6.1	IMPACT OF RECESSION ON INVERTER MARKET IN EUROPE	190
TABLE 203	EUROPE: INVERTER MARKET, BY OUTPUT POWER RATING, 2020–2022 (USD MILLION)	190
TABLE 204	EUROPE: INVERTER MARKET, BY OUTPUT POWER RATING, 2023–2028 (USD MILLION)	190
TABLE 205	EUROPE: INVERTER MARKET, BY OUTPUT VOLTAGE, 2020–2022 (USD MILLION)	190
TABLE 206	EUROPE: INVERTER MARKET, BY OUTPUT VOLTAGE, 2023–2028 (USD MILLION)	191
TABLE 207	EUROPE: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	191
TABLE 208	EUROPE: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	191
TABLE 209	EUROPE: INVERTER MARKET, BY TYPE, 2020–2022 (USD MILLION)	192
TABLE 210	EUROPE: INVERTER MARKET, BY TYPE, 2023–2028 (USD MILLION)	192
TABLE 211	EUROPE: INVERTER MARKET, BY TYPE, 2020–2022 (THOUSAND UNITS)	192
TABLE 212	EUROPE: INVERTER MARKET, BY TYPE, 2023–2028 (THOUSAND UNITS)	192
TABLE 213	EUROPE: INVERTER MARKET, BY CONNECTION TYPE, 2020–2022 (USD MILLION)	193
TABLE 214	EUROPE: INVERTER MARKET, BY CONNECTION TYPE, 2023–2028 (USD MILLION)	193
TABLE 215	EUROPE: INVERTER MARKET, BY SALES CHANNEL, 2020–2022 (USD MILLION)	193
TABLE 216	EUROPE: INVERTER MARKET, BY SALES CHANNEL, 2023–2028 (USD MILLION)	193
TABLE 217	EUROPE: INVERTER MARKET, BY COUNTRY, 2020–2022 (USD MILLION)	194
TABLE 218	EUROPE: INVERTER MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	194
12.6.1.1	Germany	194
12.6.1.1.1	Growing automotive sector and rising adoption of renewable energy to drive market	194
TABLE 219	GERMANY: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	195
TABLE 220	GERMANY: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	195
12.6.1.2	UK	195
12.6.1.2.1	Increasing investments in battery production and solar power generation to propel market	195
TABLE 221	UK: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	196
TABLE 222	UK: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	196
12.6.1.3	ITALY	196
12.6.1.3.1	Rising establishment of large-scale PV plants to fuel market growth	196
TABLE 223	ITALY: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	197
TABLE 224	ITALY: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	197
12.6.1.4	France	197
12.6.1.4.1	Increase in solar PV installation capacity to propel market	197
TABLE 225	FRANCE: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	198
TABLE 226	FRANCE: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	198
12.6.1.5	Spain	198
12.6.1.5.1	Expanding automotive industry to drive market	198
TABLE 227	SPAIN: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	199
TABLE 228	SPAIN: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	199
12.6.1.6	Rest of Europe	199
TABLE 229	REST OF EUROPE: INVERTER MARKET, BY END USER, 2020–2022 (USD MILLION)	200
TABLE 230	REST OF EUROPE: INVERTER MARKET, BY END USER, 2023–2028 (USD MILLION)	200
13.1 OVERVIEW 201
13.2 STRATEGIES ADOPTED BY KEY PLAYERS, 2018–2023 201
13.3 MARKET SHARE ANALYSIS, 2022 202
FIGURE 51 INVERTER MARKET SHARE ANALYSIS OF TOP PLAYERS, 2022 202
13.4 REVENUE ANALYSIS OF KEY PLAYERS, 2018–2022 203
FIGURE 52 INVERTER MARKET: REVENUE ANALYSIS, 2018–2022 203
13.5 COMPANY EVALUATION MATRIX, 2022 203
13.5.1 STARS 204
13.5.2 EMERGING LEADERS 204
13.5.3 PERVASIVE PLAYERS 204
13.5.4 PARTICIPANTS 204
FIGURE 53 INVERTER MARKET: COMPANY EVALUATION MATRIX, 2022 205
13.5.5 COMPANY FOOTPRINT 206
TABLE 232 COMPANY TYPE FOOTPRINT 206
TABLE 233 COMPANY OUTPUT POWER RATING FOOTPRINT 207
TABLE 234 COMPANY END USER FOOTPRINT 208
TABLE 235 COMPANY REGION FOOTPRINT 209
TABLE 236 COMPANY OVERALL FOOTPRINT 210
13.6 START-UP/SMALL AND MEDIUM-SIZED ENTERPRISE (SME) EVALUATION MATRIX, 2022 211
13.6.1 PROGRESSIVE COMPANIES 211
13.6.2 RESPONSIVE COMPANIES 211
13.6.3 DYNAMIC COMPANIES 211
13.6.4 STARTING BLOCKS 211
FIGURE 54 INVERTER MARKET: START-UP/SME EVALUATION MATRIX, 2022 212
13.6.5 COMPETITIVE BENCHMARKING 213
TABLE 237 INVERTER MARKET: LIST OF START-UPS/SMES 213
TABLE 238 COMPETITIVE BENCHMARKING OF START-UPS/SMES, BY END USER 214
TABLE 239 COMPETITIVE BENCHMARKING OF START-UPS/SMES, BY TYPE 214
TABLE 240 COMPETITIVE BENCHMARKING OF START-UPS/SMES, BY POWER RATING 215
TABLE 241 COMPETITIVE BENCHMARKING OF START-UPS/SMES, BY REGION 215
13.7 COMPETITIVE SCENARIOS AND TRENDS 216
13.7.1 DEALS 216
TABLE 242 INVERTER MARKET: DEALS, NOVEMBER 2019–JULY 2023 216
13.7.2 OTHERS 219
TABLE 243 INVERTER MARKET: OTHERS, NOVEMBER 2020–NOVEMBER 2023 219
14 COMPANY PROFILES 223
14.1 KEY PLAYERS 223
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
14.1.1 HUAWEI TECHNOLOGIES CO., LTD. 223
TABLE 244 HUAWEI TECHNOLOGIES CO., LTD.: COMPANY OVERVIEW 223
FIGURE 55 HUAWEI TECHNOLOGIES CO., LTD.: COMPANY SNAPSHOT 224
TABLE 245 HUAWEI TECHNOLOGIES CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 225
TABLE 246 HUAWEI TECHNOLOGIES CO., LTD.: PRODUCT LAUNCHES 226
TABLE 247 HUAWEI TECHNOLOGIES CO., LTD.: DEALS 226
TABLE 248 HUAWEI TECHNOLOGIES CO., LTD.: OTHERS 227
14.1.2 SUNGROW 228
TABLE 249 SUNGROW: COMPANY OVERVIEW 228
FIGURE 56 SUNGROW: COMPANY SNAPSHOT 229
TABLE 250 SUNGROW: PRODUCTS/SOLUTIONS/SERVICES OFFERED 230
TABLE 251 SUNGROW: PRODUCT LAUNCHES 232
TABLE 252 SUNGROW: DEALS 232
TABLE 253 SUNGROW: OTHERS 233
14.1.3 SMA SOLAR TECHNOLOGY AG 235
TABLE 254 SMA SOLAR TECHNOLOGY AG: COMPANY OVERVIEW 235
FIGURE 57 SMA SOLAR TECHNOLOGY AG: COMPANY SNAPSHOT 236
TABLE 255 SMA SOLAR TECHNOLOGY AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED 237
TABLE 256 SMA SOLAR TECHNOLOGY AG: PRODUCT LAUNCHES 238
TABLE 257 SMA SOLAR TECHNOLOGY AG: DEALS 238
TABLE 258 SMA SOLAR TECHNOLOGY AG: OTHERS 239
14.1.4 POWER ELECTRONICS S.L. 240
TABLE 259 POWER ELECTRONICS S.L.: COMPANY OVERVIEW 240
TABLE 260 POWER ELECTRONICS S.L.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 240
TABLE 261 POWER ELECTRONICS S.L.: PRODUCT LAUNCHES 241
14.1.5 FIMER GROUP 242
TABLE 262 FIMER GROUP: COMPANY OVERVIEW 242
TABLE 263 FIMER GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 242
TABLE 264 FIMER GROUP: PRODUCT LAUNCHES 244
TABLE 265 FIMER GROUP: DEALS 244
TABLE 266 FIMER GROUP: OTHERS 245
14.1.6 SOLAREDGE 247
TABLE 267 SOLAREDGE: COMPANY OVERVIEW 247
FIGURE 58 SOLAREDGE: COMPANY SNAPSHOT 248
TABLE 268 SOLAREDGE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 248
TABLE 269 SOLAREDGE TECHNOLOGIES: PRODUCT LAUNCHES 249
TABLE 270 SOLAREDGE: DEALS 250
14.1.7 FRONIUS INTERNATIONAL GMBH 251
TABLE 271 FRONIUS INTERNATIONAL GMBH: COMPANY OVERVIEW 251
TABLE 272 FRONIUS INTERNATIONAL GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED 251
TABLE 273 FRONIUS INTERNATIONAL GMBH: PRODUCT LAUNCHES 252
TABLE 274 FRONIUS INTERNATIONAL GMBH: DEALS 252
14.1.8 ALTENERGY POWER SYSTEM INC. 253
TABLE 275 ALTENERGY POWER SYSTEM INC.: COMPANY OVERVIEW 253
TABLE 276 ALTENERGY POWER SYSTEM INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 253
TABLE 277 ALTENERGY POWER SYSTEM INC.: PRODUCT LAUNCHES 254
TABLE 278 ALTENERGY POWER SYSTEMS INC.: DEALS 254
14.1.9 ENPHASE ENERGY 255
TABLE 279 ENPHASE ENERGY: COMPANY OVERVIEW 255
FIGURE 59 ENPHASE ENERGY: COMPANY SNAPSHOT 255
TABLE 280 ENPHASE ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 256
TABLE 281 ENPHASE ENERGY: PRODUCT LAUNCHES 256
TABLE 282 ENPHASE ENERGY: DEALS 257
TABLE 283 ENPHASE ENERGY: OTHERS 258
14.1.10 DARFON 259
TABLE 284 DARFON: COMPANY OVERVIEW 259
FIGURE 60 DAFRON: COMPANY SNAPSHOT 260
TABLE 285 DARFON: PRODUCTS/SOLUTIONS/SERVICES OFFERED 261
TABLE 286 DARFON: PRODUCT LAUNCHES 261
14.1.11 SCHNEIDER ELECTRIC 262
TABLE 287 SCHNEIDER ELECTRIC: COMPANY OVERVIEW 262
FIGURE 61 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT 263
TABLE 288 SCHNEIDER ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 264
TABLE 289 SCHNEIDER ELECTRIC: DEALS 264
TABLE 290 SCHNEIDER ELECTRIC: OTHERS 265
14.1.12 GENERAL ELECTRIC 266
TABLE 291 GENERAL ELECTRIC: COMPANY OVERVIEW 266
FIGURE 62 GENERAL ELECTRIC: COMPANY SNAPSHOT 267
TABLE 292 GENERAL ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 268
TABLE 293 GENERAL ELECTRIC: PRODUCT LAUNCHES 269
TABLE 294 GENERAL ELECTRIC: OTHERS 269
14.1.13 DELTA ELECTRONICS, INC. 270
TABLE 295 DELTA ELECTRONICS, INC.: COMPANY OVERVIEW 270
FIGURE 63 DELTA ELECTRONICS, INC.: COMPANY SNAPSHOT 271
TABLE 296 DELTA ELECTRONICS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 272
TABLE 297 DELTA ELECTRONICS, INC.: PRODUCT LAUNCHES 273
TABLE 298 DELTA ELECTRONICS, INC.: DEALS 273
TABLE 299 DELTA ELECTRONICS, INC.: OTHERS 274
14.1.14 EXIDE INDUSTRIES LTD. 275
TABLE 300 EXIDE INDUSTRIES LTD.: COMPANY OVERVIEW 275
FIGURE 64 EXIDE ELECTRONICS LTD.: COMPANY SNAPSHOT 276
TABLE 301 EXIDE ELECTRONICS LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 277
TABLE 302 EXIDE ELECTRONICS LTD.: PRODUCT LAUNCHES 277
14.2 OTHER PLAYERS 278
14.2.1 CONTINENTAL ENGINEERING SERVICES 278
14.2.2 DELPHI TECHNOLOGIES 279
14.2.3 SENSATA TECHNOLOGIES 279
14.2.4 SAMLEX EUROPE BV 280
14.2.5 BESTEK 280
14.2.6 GOODWE 281
14.2.7 TMEIC (TOSHIBA MITSUBISHI-ELECTRIC INDUSTRIAL SYSTEMS CORPORATION) 281
14.2.8 YASKAWA-SOLECTRIA SOLAR 282
14.2.9 KACO NEW ENERGY 282
14.2.10 GROWATT NEW ENERGY 283
14.2.11 TBEA 283
*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
15 APPENDIX 284
15.1 INSIGHTS FROM INDUSTRY EXPERTS 284
15.2 DISCUSSION GUIDE 285
15.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 290
15.4 CUSTOMIZATION OPTIONS 292
15.5 RELATED REPORTS 292
15.6 AUTHOR DETAILS 293
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