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Energy and Power North America Solar PV Inverters Market...

North America Solar PV Inverters Market Forecast to 2030 - COVID-19 Impact and Regional Analysis - by Product Type (String, Micro, and Central), Phase (Single Phase and Three Phase), Connectivity (Standalone and On-grid), Application (Residential and community, Commercial and industrial, and Utility), and Capacity (Below 5 kW, 5-15 kW, 15 -25 kW, 25 - 50 kW, and Above 50 kW)

BMIRE00028587 | Pages: 143 | Energy and Power | Jun 2023 | Type: Regional | Status: Published

The North America solar PV inverters market is expected to grow from US$ 1,357.63 million in 2023 to US$ 3,094.06 million by 2030; it is estimated to grow at a CAGR of 12.5% from 2023 to 2030.

Rising Number of Solar Installations Attributed to Government-led Incentives and Schemes

Installing solar rooftop systems help people generate electricity and use it for different purposes, including residential, commercial, and even industrial. A photograph of the installed system for the distribution utility is sufficient to qualify for benefits or subsidies under the government scheme. The Discom will credit the householder's account with the government subsidy, which is 40% for rooftop systems up to 3 KW in capacity and 20% for systems larger than that up to 10 KW, within 30 days of installation. According to a statement from the ministry, the decision to streamline the rooftop solar program was made at a review meeting on January 19, 2022, presided over by Union Minister of Power and New & Renewable Energy.

According to the Ministry of New & Renewable Energy, the central government pays 30% of the benchmarked installation cost for the photovoltaic rooftop system. Similarly, the US federal government in 2021 announced solar Investment Tax Credit (ITC) of 26% for all solar installation from 2020 to 2022.

Under this alliance, the commission aims to install 320 GW of solar photovoltaic grids by 2025 and approximately 600 GW by 2030. Thus, the rising number of solar installations attributed to government-led incentives and schemes propel the demand for solar inverters.

North America Solar PV Inverters Market Overview

The North America solar PV inverters market is segmented into the US, Canada, and Mexico. With an emphasis on promoting solar power as a primary energy source, governments of North American countries have taken various initiatives to encourage the domestic use of solar power. Rooftop solar systems generate electricity that can be used in different residential, commercial, and industrial applications. Thus, the rising number of solar installations owing to government-led incentives and schemes propels the demand for solar inverters, which drives the growth of the solar PV inverters market in North America.

North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

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North America Solar PV Inverters Market Segmentation

The North America solar PV inverters market is segmented based on product type, phase, connectivity, application, capacity, and country. Based on product type, the North America solar PV inverters market is segmented into string, micro, and central. The central segment held the largest market share in 2023.

Based on phase, the North America solar PV inverters market is bifurcated into single phase and three phase. The three phase segment held a larger market share in 2023.

Based on connectivity, the North America solar PV inverters market is bifurcated into standalone and on-grid. The on-grid segment held a larger market share in 2023.

Based on application, the North America solar PV inverters market is segmented into residential and community, commercial and industrial, and utility. The utility segment held the largest market share in 2023.

Based on capacity, the North America solar PV inverters market is segmented into b5 kW, 5-15 kW, 15 -25 kW, 25 - 50 kW, and above 50 kW. The above 50 kW segment held the largest market share in 2023.

Based on country, the North America solar PV inverters market is segmented into the US, Canada, and Mexico. The US dominated the North America solar PV inverters market share in 2023.

Power Electronics SL; SMA Solar Technology AG; Solaredge Technologies Inc; Fimer SpA; Delta Electronics Inc.; EnerTech UPS Pvt Ltd; and GoodWe Technologies Co. Ltd are the leading companies operating in the North America solar PV inverters market.   

1.           Introduction

1.1         Study Scope

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

2.           Key Takeaways

3.        Research Methodology

3.1         Coverage

3.2         Secondary Research

3.3         Primary Research

4.           North America Solar PV inverters Market Landscape

4.1         Market Overview

4.2         PEST Analysis

4.2.1        North America

4.3         Ecosystem Analysis

4.4         Expert Opinion

5.           North America Solar Inverters Market – Key Market Dynamics

5.1         Market Drivers

5.1.1        Growing Residential Solar Rooftop Installations

5.1.2        Rising Number of Solar Installations Attributed to Government-led Incentives and Schemes

5.2         Market Restraints

5.2.1        Safety Risks Associated with High DC Voltages in Solar Inverters

5.3         Market Opportunities

5.3.1        Increasing Investments in Renewable Energy Sector

5.4         Future Trends

5.4.1        Technological Innovations in Smart Inverters

5.5         Impact Analysis of Drivers and Restraints

6.           Solar PV Inverters Market– North America Market Analysis

6.1         North America Solar PV Inverters Market Overview

6.2         North America Solar Inverters Market Revenue Forecast and Analysis

7.           North America Solar PV Inverters Market Analysis – By Product Type

7.1         Overview

7.2         Solar PV Inverters Market Breakdown, By Product Type, 2022 and 2030

7.3         Central

7.3.1        Overview

7.3.2        Central: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

7.4         String

7.4.1        Overview

7.4.2        String: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

7.5         Micro

7.5.1        Overview

7.5.2        Micro: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

8.           North America Solar PV Inverters Market Analysis – By Connectivity

8.1         Overview

8.2         Solar PV Inverters Market Breakdown, By Connectivity, 2022 and 2030

8.3         On-Grid

8.3.1        Overview

8.3.2        On-Grid: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

8.4         Standalone

8.4.1        Overview

8.4.2        Standalone: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

9.           North America Solar PV Inverters Market Analysis – By Phase

9.1         Overview

9.2         Solar PV Inverters Market Breakdown, By Phase, 2022 and 2030

9.3         Single Phase

9.3.1        Overview

9.3.2        Single Phase: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

9.4         Three Phase

9.4.1        Overview

9.4.2        Three Phase: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

10.        North America Solar PV Inverters Market Analysis – By Capacity

10.1      Overview

10.2      Solar PV Inverters Market Breakdown, By Capacity, 2022 and 2030

10.3      Below 5kW

10.3.1     Overview

10.3.2     Below 5kW: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

10.4      5–15 kW

10.4.1     Overview

10.4.2     5–15 kW: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

10.5–25 kW

10.5.1     Overview

10.5.2–25 kW: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

10.6–50 kW

10.6.1     Overview

10.6.2–50 kW: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

10.7      Above 50 kW

10.7.1     Overview

10.7.2     Above 50kW: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

11.        North America Solar PV Inverters Market Analysis – By Application

11.1      Overview

11.2      Solar PV Inverters Market Breakdown, By Application (2022 and 2030)

11.3      Residential and Community

11.3.1     Overview

11.3.2     Residential and Community: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

11.3.2.1       Below 5kW Market

11.3.2.1.1       Overview

11.3.2.1.2       Below 5kW Market: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

11.3.2.2       5-15 KW Market

11.3.2.2.1       Overview

11.3.2.2.2       5-15kW Market: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

11.4      Commercial and Industrial

11.4.1     Overview

11.4.2     Commercial and Industrial: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

11.4.2.1       Below 5kW Market

11.4.2.1.1       Overview

11.4.2.1.2       Below 5kW Market: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

11.4.2.2       5-15 KW Market

11.4.2.2.1       Overview

11.4.2.2.2       5-15 KW Market: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

11.4.2.3-25 kW Market

11.4.2.3.1       Overview

11.4.2.3.2-25 KW Market: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

11.4.2.4-50 kW Market

11.4.2.4.1       Overview

11.4.2.4.2-50 KW Market: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

11.4.2.5       Above 50kW Market

11.4.2.5.1       Overview

11.4.2.5.2       Above 50KW Market: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

11.5      Utility

11.5.1     Overview

11.5.2     Utility: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

11.5.2.1-50 kW Market

11.5.2.1.1       Overview

11.5.2.1.2-50 KW Market: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

11.5.2.2       Above 50kW Market

11.5.2.2.1       Overview

11.5.2.2.2       Above 50 KW Market: Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

12.        North America Solar PV Inverters Market – by Country Analysis

12.1      North America: Solar PV Inverters Market

12.1.1     North America: Solar PV Inverters Market, by Key Country

12.1.1.1       US: Solar PV Inverters Market – Revenue and Forecast to 2030 (US$ Million)

12.1.1.1.1       US: Solar PV Inverters Market, By Product Type

12.1.1.1.2       US: Solar PV Inverters Market, By Phase

12.1.1.1.3       US: Solar PV Inverters Market, By Connectivity

12.1.1.1.4       US: Solar PV Inverters Market, By Application

12.1.1.1.5       US: Solar PV Inverters Market, By Capacity

12.1.1.2       Canada: Solar PV Inverters Market – Revenue and Forecast to 2030 (US$ Million)

12.1.1.2.1       Canada: Solar PV Inverters Market, By Product Type

12.1.1.2.2       Canada: Solar PV Inverters Market, By Phase

12.1.1.2.3       Canada: Solar PV Inverters Market, By Connectivity

12.1.1.2.4       Canada: Solar PV Inverters Market, By Application

12.1.1.2.5       Canada: Solar PV Inverters Market, By Capacity

12.1.1.3       Mexico: Solar PV Inverters Market – Revenue and Forecast to 2030 (US$ Million)

12.1.1.3.1       Mexico: Solar PV Inverters Market, By Product Type

12.1.1.3.2       Mexico: Solar PV Inverters Market, By Phase

12.1.1.3.3       Mexico: Solar PV Inverters Market, By Connectivity

12.1.1.3.4       Mexico: Solar PV Inverters Market, By Application

12.1.1.3.5       Mexico: Solar PV Inverters Market, By Capacity

13.        Industry Landscape

13.1      Overview

13.2      Market Initiative

13.3      Product Development

13.4      Mergers & Acquisitions

14.        Company Profiles

14.1      Power Electronics SL

14.1.1     Key Facts

14.1.2     Business Description

14.1.3     Products and Services

14.1.4     Financial Overview

14.1.5     SWOT Analysis

14.1.6     Key Developments

14.2      SMA Solar Technology AG

14.2.1     Key Facts

14.2.2     Business Description

14.2.3     Products and Services

14.2.4     Financial Overview

14.2.5     SWOT Analysis

14.2.6     Key Developments

14.3      Solaredge Technologies Inc

14.3.1     Key Facts

14.3.2     Business Description

14.3.3     Products and Services

14.3.4     Financial Overview

14.3.5     SWOT Analysis

14.3.6     Key Developments

14.4      Fimer SpA

14.4.1     Key Facts

14.4.2     Business Description

14.4.3     Products and Services

14.4.4     Financial Overview

14.4.5     SWOT Analysis

14.4.6     Key Developments

14.5      Delta Electronics Inc

14.5.1     Key Facts

14.5.2     Business Description

14.5.3     Products and Services

14.5.4     Financial Overview

14.5.5     SWOT Analysis

14.5.6     Key Developments

14.6      EnerTech UPS Pvt Ltd

14.6.1     Key Facts

14.6.2     Business Description

14.6.3     Products and Services

14.6.4     Financial Overview

14.6.5     SWOT Analysis

14.6.6     Key Developments

14.7      GoodWe Technologies Co Ltd

14.7.1     Key Facts

14.7.2     Business Description

14.7.3     Products and Services

14.7.4     Financial Overview

14.7.5     SWOT Analysis

14.7.6     Key Developments

15.        Appendix

15.1      About The Insight Partners

15.2      Word Index

 

 

LIST OF TABLES

Table 1.             North America Solar Inverters Market Revenue Forecast and Forecast to 2030 (US$ Million)

Table 2.             US: Solar PV Inverters Market, By Product Type – Revenue and Forecast to 2030 (US$ Million)

Table 3.             US: Solar PV Inverters Market, By Phase – Revenue and Forecast to 2030 (US$ Million)

Table 4.             US: Solar PV Inverters Market, By Connectivity – Revenue and Forecast to 2030 (US$ Million)

Table 5.             US: Solar PV Inverters Market, By Application – Revenue and Forecast to 2030 (US$ Million)

Table 6.             US: Solar PV Inverters Market, By Capacity – Revenue and Forecast to 2030 (US$ Million)

Table 7.             Canada: Solar PV Inverters Market, By Product Type – Revenue and Forecast to 2030 (US$ Million)

Table 8.             Canada: Solar PV Inverters Market, By Phase – Revenue and Forecast to 2030 (US$ Million)

Table 9.             Canada: Solar PV Inverters Market, By Connectivity – Revenue and Forecast to 2030 (US$ Million)

Table 10.          Canada: Solar PV Inverters Market, By Application – Revenue and Forecast to 2030 (US$ Million)

Table 11.          Canada: Solar PV Inverters Market, By Capacity – Revenue and Forecast to 2030 (US$ Million)

Table 12.          Mexico: Solar PV Inverters Market, By Product Type – Revenue and Forecast to 2030 (US$ Million)

Table 13.          Mexico: Solar PV Inverters Market, By Phase – Revenue and Forecast to 2030 (US$ Million)

Table 14.          Mexico: Solar PV Inverters Market, By Connectivity – Revenue and Forecast to 2030 (US$ Million)

Table 15.          Mexico: Solar PV Inverters Market, By Application – Revenue and Forecast to 2030 (US$ Million)

Table 16.          Mexico: Solar PV Inverters Market, By Capacity – Revenue and Forecast to 2030 (US$ Million)

Table 17.          List of Abbreviation

 

 

LIST OF FIGURES

Figure 1.           North America Solar PV Inverters Market Segmentation

Figure 2.           North America Solar PV Inverters Market Segmentation – By Country

Figure 3.           North America Solar PV Inverters Market Overview

Figure 4.           North America Solar PV Inverters Market, by Product Type

Figure 5.           North America Solar PV Inverters Market, by Phase

Figure 6.           North America Solar PV Inverters Market, by Country

Figure 7.           North America: PEST Analysis

Figure 8.           North America Solar Inverters Market- Ecosystem Analysis

Figure 9.           North America Expert Opinion

Figure 10.        North America Solar (PV) Inverter Market: Impact Analysis of Drivers and Restraints

Figure 11.        North America Solar Inverters Market Revenue Forecast and Analysis (US$ Million)

Figure 12.        North America Solar PV Inverters Market Revenue Share, By Product Type (2022 and 2030)

Figure 13.        Central: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 14.        String: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 15.        Micro: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 16.        North America Solar PV Inverters Market Revenue Share, By Connectivity (2022 and 2030)

Figure 17.        On-Grid: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 18.        Standalone: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 19.        North America Solar PV Inverters Market Revenue Share, By Phase (2022 and 2030)

Figure 20.        Single Phase: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 21.        Three Phase: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 22.        North America Solar PV Inverters Market Revenue Share, By Capacity (2022 and 2030)

Figure 23.        Below 5kW: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 24.        5–15 Kw: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 25.–25 kW: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 26.–50 kW: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 27.        Above 50kW: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 28.        North America Solar PV Inverters Market Revenue Share, By Application (2022 and 2030)

Figure 29.        Residential and Community: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 30.        Below 5kW Market: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 31.        5-15kW Market: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 32.        Commercial and Industrial: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 33.        Below 5kW Market: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 34.        5-15kW Market: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 35.-25kW Market: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 36.-50KW Market: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 37.        Above 50kW Market: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 38.        Utility: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 39.-50KW Market: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 40.        Above 50kW Market: North America Solar PV Inverters Market Revenue and Forecast to 2030 (US$ Million)

Figure 41.        North America: Solar PV Inverters Market, by Key Country – Revenue (2022) (US$ Million)

Figure 42.        North America: Solar PV Inverters Market Revenue Share, by Key Country (2022 and 2030)

Figure 43.        US: Solar PV Inverters Market – Revenue and Forecast to 2030 (US$ Million)

Figure 44.        Canada: Solar PV Inverters Market – Revenue and Forecast to 2030 (US$ Million)

Figure 45.        Mexico: Solar PV Inverters Market – Revenue and Forecast to 2030 (US$ Million)

  1. Power Electronics SL
  2. SMA Solar Technology AG
  3. Solaredge Technologies Inc
  4. Fimer SpA
  5. Delta Electronics Inc.
  6. EnerTech UPS Pvt Ltd
  7. GoodWe Technologies Co. Ltd
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America solar PV inverter market.    
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the North America solar PV inverter market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth North America market trends and outlook coupled with the factors driving the North America solar PV inverter market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
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