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NEW YORK, Oct. 31, 2022 /PRNewswire/ — The global solar central inverters market size is set to grow by USD 3.81 billion from 2021 to 2026, according to Technavio. Moreover, the growth momentum of the market is expected to accelerate at a CAGR of 15.43% during the forecast period. The solar central inverters market is attributed to the rising investment in renewables and the rising demand for能源.
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ABB Ltd., Delta Electronics Inc., Eaton Corp. Plc, Fimer SpA, Ginlong Technologies Co. Ltd., Hitachi Ltd., Huawei Technologies Co. Ltd., Infineon Technologies AG, Ingeteam SA, OCI Co. Ltd., Shenzen Growatt New Energy Technology Co. Ltd., Siemens AG, Sineng Electric Co. Ltd., SMA Solar Technology AG, SolarEdge Technologies Inc., Sungrow Power Supply Co. Ltd., Toshiba Corp., Yaskawa Solectria Solar, and Zhejiang CHINT Electrics Co. Ltd. are the key players in the market. The offerings of some of these vendors are listed below:
- ABB Ltd. – The company offers ABB central inverters PVS800 that are designed for fast and easy installation.
- Delta Electronics Inc. – The company offers Delta Grid Tied Central Inverters, which are suitable for multi-megawatt and utility-scale PV power plants.
- Eaton Corp. Plc – The company offers a complete range of monophase inverters from 1500 W up to 4600 W.
- Hitachi Ltd. – The company offers Hitachi Grid Tied Central Inverters, which are suitable for multi-megawatt and utility-scale PV power plants.
- Ingeteam SA – The company offers Full-Skid MV solution up to 7.2 MVA, which is available with 1,000V and 1,500V inverters.
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The rising investment in renewables is driving market growth. Renewable energy plays a key role in the global shift toward attaining a sustainable and low carbon-intensive environment. Government regulations have resulted in the significant adoption of clean energy technologies across the world. The proliferation of clean energy technologies is further fueled by the rise in investments. There has been a drastic change in the global energy mix during the past two decades. The growth in the renewable energy sector globally is attributed to the competitive price of power generation, along with subsidies provided by governments and favorable regulations. Thus, the use of renewable energy sources has been increasing rapidly due to increasing government support and investments. These factors will eventually fuel the adoption of solar PV systems, which is increasing the demand for solar central inverters.
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- Utility – size and forecast 2021-2026
- Non-utility – size and forecast 2021-2026
- APAC – size and forecast 2021-2026
- Europe – size and forecast 2021-2026
- North America – size and forecast 2021-2026
- South America – size and forecast 2021-2026
- Middle East and Africa – size and forecast 2021-2026
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The market share growth by the utility segment will be significant during the forecast period. Utility-scale projects have gained large traction in recent years because of the focus on sustainable sources. The increasing demand for electricity owing to the rise in population will propel the utility segment of the global solar central inverters market.
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Solar Batteries Market by Technology and Geography – Forecast and Analysis 2022-2026: This report extensively covers segmentation by technology (Li-ion, lead acid, sodium-based, and others) and geography (APAC, North America, Europe, Middle East and Africaand South America). 41% of the market’s growth will originate from APAC during the forecast period. The market share growth in the Li-ion segment will be significant.
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