Market research future published a cooked research report on Global solar inverter market that contains the information from 2018 to 2023. Global solar inverter market is expected to grow with the CAGR of approximately 15.65% from 2018 to 2023, and with this it is predictable to cross USD 24,507.3 million by 2023.

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The key players in the global solar inverter market as ABB Ltd (Switzerland), SMA Solar Technology AG (Germany), Canadian Solar Inc. (Canada), SolarEdge Technologies Inc. (Israel), SunPower Corporation (U.S.), Delta Electronics, Inc. (Taiwan), Solectria Renewables, LLC (U.S.), Sineng Electric Co., Ltd. (China), Hitachi Hi-Rel Power Electronics Pvt. Ltd (India), and Power electronics (Spain).

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Solar Inverter are widely accepted owing to its property of instantaneous conversion of DC power input to AC current while connected to on-grid system. They are used in solar rooftop and ground-mounted residential, commercial and utility-scale systems, with system ratings of 3–10 kW, 10 kW–2 MW and > 2 MW, respectively. The growing number of solar power plants around the world, which are to be connected with the grid through an on-grid solar inverter, driving the market for solar inverter in the forecast period. Also, growing off-grid solar panel installation for commercial & industrial and residential use requires a reliable and safe power source converter, which is provided by solar inverter. All these factors will drive for the growth in solar inverter market. The major benefits for solar power installation are, generation of free & clean electricity with the utilization of sun’s abundant power, reduction in carbon footprint and eventual reduction in electricity bills. Global solar inverter market is expected to grow with the CAGR of approximately 15.65% from 2017 to 2023, and with this it is predictable to cross USD 24,507.3 million by 2023.

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Utility-scale power generation currently represents a comparatively small percentage of global power generation but, a rapid growth is expected for this sector due to growing awareness of utilization of renewable energy and reducing the carbon footprint. Also, the reduction in costs is determined by technological advancement, economies of scale in manufacturing and innovations in financing have fetched solar power within reach of grid uniformity in a growing number of markets.

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This research report has provides the insights, on various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the global solar inverter market, including the high-growth regions, countries and their political, economic and technological environments. Furthermore the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.

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