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PV Inverter Market Size
- Report ID: GMI234
- Published Date: Aug 2023
- Report Format: PDF
PV Inverter Market Size
PV Inverter Market size was valued at USD 13.32 billion in 2022 and is estimated to expand at a CAGR of 7.7% between 2024 and 2032. A photovoltaic inverter, referred to as a solar inverter, is an essential device in a solar energy system. It converts DC (direct current) power generated by solar panels into AC (alternating current) power, which is compatible with standard electrical systems used across homes, businesses, and industries.
Rising demand for clean and sustainable energy on the account of the growing concerns regarding harmful GHG emissions will positively influence the product adoption. Moreover, the gradual shift from local grids in line with the surging need for large-scale solar power plants will further show the diverse & sustainable growth of solar energy.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| PV Inverter Market Size in 2023: | USD 13.32 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 7.7% |
| 2032 Value Projection: | USD 24.17 Billion |
| Historical Data for: | 2019 to 2023 |
| No. of Pages: | 500 |
| Tables, Charts & Figures: | 1,334 |
| Segments covered: | Product, Phase, Connectivity, Nominal Output Power, Nominal Output Voltage, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
PV Inverter Market Scope
