Industry Insights

Renewables have witnessed growth at an unprecedented pace over the past decade and have continually surpassed expectations. More number of companies are committing to their respective energy transitions from conventional to renewable sources. The changing consumer preference for a sustainable environment, ambitious targets by the central governments coupled with adequate planning and implementation of several supporting policies have led to significant advancements in renewable energy sector.

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The renewable energy has predominantly become a feasible alternative as the civilization stands at a critical juncture where the world is on a cusp of embracing clean energy at a scale never seen before. In the current scenario, it costs less to build a new solar or wind plant than to continue running a natural gas or coal plant.

Product Insights

String inverters are the second most widely used product finds an extensive array of applications. They are used primarily in residential and commercial sectors. However, in the past few years they have gained immense significance on account of rapid technological advancements. These inverters are easier to install and offer lower initial cost per peak watt price.

End-use Insights

Industrial and commercial scale systems are among the largest market in some parts of the world as they display more valuable retail electric power in tandem with the cost-effectiveness they offer. Utilities have witnessed the fastest growth in the past three years due to many large-scale solar projects worldwide. The segment is projected to expand at a CAGR of 4.6% in Asia Pacific from 2018 to 2026.

Report Scope

Attribute & Details

Base year for estimation

2017

Actual estimates/Historical data

2014 - 2016

Forecast period

2018 - 2026

Market representation

Revenue in USD Million & CAGR from 2018 to 2026

Regional scope

North America, Europe, Asia Pacific, Middle East & Africa, Central & South America

Country scope

U.S., Canada, Mexico, Germany, Italy, U.K., China, Japan, India

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

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