Various aspects of the global market for digital inverters have been examined by Future Market Insights in a recent research report titled “Digital Inverter Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)”. Key insights have been gained from the raw secondary research data that has been sifted and organised in a systematic fashion. In order to gather knowledge about the numerous market trends that are influencing the market’s future, the drivers that promote market growth, the opportunities that will shape the market’s future, and the constraints that will impede market expansion, a detailed analysis of the market is conducted.
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To assess their intensity and impact on the overall market expansion, these various aspects have been examined across the key regions of North America, Latin America, Western Europe, Eastern Europe, Asia Pacific except Japan (APEJ), Japan, and the Middle East and Africa (MEA). This research study includes future market insights for each segment of the global digital inverter market based on value and volume predictions for a period of ten years, taking historical data and the current situation into account.
Global Digital Inverter Market: Forecast
The projected term is expected to see the global digital inverter market expand rapidly, with a CAGR of 7.1%. The global market is projected to be worth around US$ 5.5 billion in 2017 and to reach nearly US$ 11 billion by the end of the assessment year (2027).
Global Digital Inverter Market: Factors Influencing Growth
The development of plug-and-play inverters, high conversion efficiencies, rising demand from the commercial and industrial sectors, increasing consolidation, government development of solar projects, the shift from developed to emerging markets, and the establishment of reliable sales channels are some of the factors that are propelling the global digital inverter market. However, the global market for digital inverters is being constrained by issues like rising DC optimiser usage, high costs, and software flaws.
Global Digital Inverter Market: Segmental Forecasts
The global digital inverter market has been segmented by product type, by region, by end user and by power source.
- By product type, string inverters segment is estimated to be the largest in terms of value share and is expected to cross US$ 4.2 Bn by the end of the assessment year. This segment is also projected to grow at the fastest rate during the forecast period.
- By end user, utilities segment is the most lucrative and is expected to soar at a high CAGR of 7.4% during the period of forecast to reach a significant value by the end of the assessment period.
- By power source, solar inverters are gaining high traction and the solar inverter segment is poised to register a 7.6% CAGR. The battery inverter segment, however, stays ahead in valuation thus dominating the global market.
- By region, Asia Pacific excluding Japan (APEJ) is the largest region in terms of growth and market value. The digital inverter market in the APEJ region is predicted to soar at a high CAGR of 7.5% during the period of forecast to reach a high valuation of close to US$ 4.5 Bn by the end of the assessment year.
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Global Digital Inverter Market: Company Assessment
The research report on the global digital inverter market encompasses in-depth assessment on various key players dealing with digital inverters. Profiles of major companies such as Eaton Corporation, Schneider Electric SE, Siemens AG, ABB Ltd., General Electric Co., Enphase Energy, Inc., SMA Solar Technology AG, Vertiv Group Corporation, Leopold Kostal GmbH & Co. KG, Growatt New Energy Co.,Ltd., ReGen Powertech Private Ltd,. Fronius International GmbH, SMA New Energy Technology (Jiangsu) Co., Ltd., and Toshiba Mitsubishi-Electric Industrial Systems Corporation have been included in the competitive assessment chapter of the research report.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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