Solar Inverters Market Overview, Growth, Future Analysis

𝗙𝘂𝘁𝘂𝗿𝗲 𝗢𝗳 𝗦𝗼𝗹𝗮𝗿 𝗜𝗻𝘃𝗲𝗿𝘁𝗲𝗿𝘀 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 – 𝗖𝗼𝗺𝗽𝗹𝗲𝘁𝗲 𝗣𝗱𝗳 𝗚𝘂𝗶𝗱𝗲

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗣𝗗𝗙 𝗖𝗼𝗽𝘆: https://www.theinsightpartners.com/sample/TIPRE00009372/

The solar inverters market size is projected to reach US$ 21.87 billion by 2031 from US$ 10.65 billion in 2023. The market is expected to register a CAGR of 9.4% during 2023–2031. The growing need for clean energy solutions and the rise in government initiatives to install solar inverters are likely to remain key trends in the market. With the worldwide governments working toward establishing solar power as a primary energy source, various schemes have been introduced for domestic use of solar power. Installing solar rooftop systems can help people generate electricity and use it for different purposes residential, commercial and even industrial.

Top Companies:

FIMER SpA.
Delta Electronics, Inc.
Enertechups
GOODWE
Power Electronics S. L.
Powerone Micro Systems Pvt. Ltd

Rise in demand for energy to Favor the Market: 
Electricity is considered one of the largest and fastest growing industries. One of the driving factors for the rising demand for electric power is the growing population. For example, according to Exxon Mobil Corporation, in October 2022, the global energy demand will rise by approximately 15% in 2050 as compared to 2021 due to a rise in population. Thus, to meet the energy demand, the production of clean energy becomes essential to address the soaring environmental concerns. This factor has fostered the demand for solar technology, which drives the solar inverter market to power the residential, commercial, and industrial sectors.