United States Solar Grid-tied Inverters Market was valued at USD 2.8 Billion in 2022 and is projected to reach USD 5.9 Billion by 2030, growing at a CAGR of 10.6% from 2024 to 2030.
The Solar Grid-tied Inverters Market is evolving rapidly as industries and residential sectors increasingly adopt solar energy solutions. Grid-tied inverters, essential components of solar power systems, convert direct current (DC) from solar panels into alternating current (AC) for use in homes and businesses. This technology is vital in maximizing the efficiency of solar energy systems by synchronizing them with the electrical grid.
In recent years, there has been a significant shift in industries towards clean and sustainable energy. As the demand for solar energy continues to grow, the Solar Grid-tied Inverters Market has witnessed a surge in production and innovation. The need for efficient, reliable, and cost-effective inverters is now more pressing than ever, as industries look to reduce their carbon footprint and energy costs.
One of the key requirements from industries is the ability to integrate solar systems seamlessly with the existing power grid. Grid-tied inverters allow solar-generated power to be fed back into the grid when excess energy is produced. This creates a mutually beneficial situation where businesses can not only reduce their reliance on traditional energy sources but also earn credits or income from supplying excess energy to the grid. In this context, the Solar Grid-tied Inverters Market plays a crucial role in ensuring compatibility with utility companies and meeting regulatory standards.
Additionally, industries require inverters that can handle high capacity, operate efficiently under varying environmental conditions, and offer long-term durability. The Solar Grid-tied Inverters Market is responding to these demands by developing inverters with advanced features like real-time monitoring, enhanced grid compatibility, and smart technology integration.
As more industries transition to renewable energy, the role of solar grid-tied inverters will only become more significant. With the growing emphasis on sustainability, this market is poised for substantial growth, driven by innovations and increasing industry adoption of solar energy systems. Companies that can offer reliable and cost-effective solutions will undoubtedly lead the charge in the solar revolution.
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Enphase Energy
SolarEdge
General Electric
Siemens
SMA Solar Technology
Schneider Electric
Cyber?? Power Systems
OutBack Power Technologies
Luminous
Leonics
INVT
Easun Power
Alencon Systems
Fimer Group (ABB)
Sungrow
Hitachi
Huawei
TBEA
Yaskawa-Solectria Solar
Power Electronics
Fronius
TMEIC
Growatt
Tabuchi Electric
Apsystems
NEGO
Yuneng Technology
Hoymiles
Ginlong
GoodWe
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US Solar Grid-tied Inverters Market
String Inverters
Microinverters
Power Optimizers
Central Inverters
Below 5 kW
5 kW - 10 kW
10 kW - 20 kW
Above 20 kW
Residential
Commercial
Industrial
Utility-scale
Residential Users
Commercial Enterprises
Government and Public Sector
Investment and Asset Management Firms
Battery-integrated Inverters
Standard Inverters
Hybrid Inverters
Grid-support Inverters
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US Solar Grid-tied Inverters Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US Solar Grid-tied Inverters Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Solar Grid-tied Inverters Market, By Type
6. US Solar Grid-tied Inverters Market, By Application
7. US Solar Grid-tied Inverters Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Solar Grid-tied Inverters Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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