Photovoltaic Off-grid Inverter Market, By Technology (Micro, String, and Central), By Application (Residential, Commercial, Utility, and Others), By Product (Off-Grid and Standalone), By End-User (E-Commerce, Automotive, Travels & Tours, Multinationals, and Marine and Aerospace), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Report Code: PMI358419 | Publish Date: March 2024 | No. of Pages: 172

Global Photovoltaic Offgrid Inverter Market Overview

Introduction

Photovoltaic Off-grid Inverter Market was valued at US$ 2.97 Billion in 2024 and is projected to grow at a CAGR of 7.50% to reach US$ 6.1 Billion by 2034.

photovoltaic off-grid inverter market report published by Prophecy Market Insights offers holistic view of various influencing factors and aims to answer all the target market related questions.

The research scope provides comprehensive market size, and other in-depth market information details such as, market growth supporting factors, restraining factors, trends, opportunities, market risk factors, market competition, product and services advancements and launches, product/services related regulations overview, and recent developments for the mentioned forecast period. In addition, the report provides key examination of market players operating in the specific market and analysis and outcomes related with the target market for more than 20 countries.

In the current research scope 2018 is considered as base year and 2019 is estimated year for market value/volume calculations. The report offers market estimates for the forecast period – 2019 to 2029. The report provides factual inputs and analysis based on primary and secondary research, which includes insights gained through in-depth interviews with primary research participants. Also, the data is gathered from authentic secondary sources and is verified by key opinion leaders in the target market. The in-house research is applied on gathered information to provide more accurate data points and reduce the margin of error. The in-house research and analysis efforts include various tools and 360o data analysis methodology.

The photovoltaic off-grid inverter market report segments the market on the basis of technology, application, product, end-user, and region.

The report expected to answer various target market related questions and offers insights on:

  • Definition, description, overview of market growth influencing factors, and forecast for the target market
  • Scope for related market in the forecast period
  • Analysis and outcome for the global photovoltaic off-grid inverter market by segment and region followed by countries
  • Market segmentation, dominating segment and region followed by country along with market value, share, Y-o-Y growth, CAGR, forecast, and contribution in the market
  • Key market player profiles, their recent developments, strategies, financial details, key competencies, presence by region, and product portfolio
  • Valuable insights, data, and forecast that can be referenced to plan business strategies, to tap market opportunities, understand business related risks, derive business goals, to recognize trends, and understand target customers/end users
  • Insights on recent technologies, pipeline products, regulations related with target market, market investment, and offers insights on political and economic factors that may influence market growth
  • PEST Analysis, PORTER’s five forces analysis, opportunity map analysis, drivers and restraints impact analysis, and market attractiveness index

Key players in the global photovoltaic off-grid inverter market include:

  • Mitsubishi Electric Corp.
  • ABB Ltd.
  • Enphase Energy, Inc.
  • KACO New Energy, Inc.
  • Growatt New Energy Technology, Inc.
  • Sungrow Power Supply Co., Ltd.
  • Tabuchi Electric Co.
  • Fronius International GmbH
  • SMA Solar Technology AG
  • Advanced Energy Industries, Inc.
  • Schneider Electric, Inc.

Prophecy Market Insights offers required customization on this report according to specific business requirements.

 

 

Global Photovoltaic Offgrid Inverter Market Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Study Scope
    • Years Considered for the study
    • Assumptions
    • Abbreviations
  2. Research Methodology
    • Research data
    • Primary Data
      • Primary Interviews
      • Primary Breakdown
      • Key data from Primary Sources
      • Key Thickness Insights
    • Secondary Data
      • Major Secondary Sources
      • Secondary Sources
    • Market Estimation
    • Top-Down Approach
      • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
    • Bottom-Up Approach
      • Approach for estimating market share by Bottom-up Analysis (Demand Side)
    • Market Breakdown and Data Triangulation
    • Research Assumptions
  3. Market Preview
    • Executive Summary
    • Key Findings—Global Outlook for medical carts Strategies
      • Key Questions this Study will Answer
      • Market Snippet, By Technology
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Opportunity Map Analysis
    • Executive Summary—3 Big Predictions
  4. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restrains
      • Market Opportunities
      • Market Trends
    • DR Impact Analysis
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
  5. Photovoltaic Off-grid Inverter Market, By Technology, Forecast Period up to 10 Years, (US$ Bn)
  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Micro
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • String
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Central
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  1. Photovoltaic Off-grid Inverter Market, By Application, Forecast Period up to 10 Years, (US$ Bn)
  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Residential
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Commercial
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Utility
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Others
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  1. Photovoltaic Off-grid Inverter Market, By Region, Forecast Period up to 10 Years, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
      • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Bn), By Technology, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Application Type, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Bn), By Technology, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Application Type, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
        • UK
        • France
        • Germany
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Bn), By Technology, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Application Type, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
        • India
        • Japan
        • South Korea
        • China
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast (US$ Bn), By Technology, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Application Type, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
    • Market Size and Forecast (US$ Bn), By Technology, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East
  1. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis
  2. Company Profiles
  • Mitsubishi Electric Corp.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • ABB Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Enphase Energy, Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • KACO New Energy, Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Growatt New Energy Technology, Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Sungrow Power Supply Co., Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Tabuchi Electric Co.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Fronius International GmbH
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • SMA Solar Technology AG
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Advanced Energy Industries, Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Schneider Electric, Inc
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  1. The Last Word
    • Future Impact
    • About Us
    • Contact

FAQs

The Photovoltaic Off-grid Inverter Market accounted for US$ 2.97 Billion in 2024 and is estimated to beUS$ 6.1 Billion by 2034 to grow at CAGR of 7.50%.

The Photovoltaic Off-grid Inverter Market is segmented into Technology, Application, Product, End-User and Region.

Market growth is propelled by the increasing adoption of off-grid solar power systems, rising demand for reliable and sustainable energy solutions in remote areas, and technological advancements in photovoltaic off-grid inverters, enhancing energy conversion efficiency.

Challenges include potential issues related to system complexity, battery maintenance, and the initial cost of off-grid solar setups, influencing the global Photovoltaic Off-grid Inverter Market.

Asia-Pacific is expected to dominate the market, driven by the increasing focus on rural electrification, government initiatives promoting clean energy, and the rapid growth of off-grid solar installations in countries like India and China. The region's commitment to sustainable energy solutions contributes to Asia-Pacific's leading position in the global Photovoltaic Off-grid Inverter Market.

The key players operating the target market Mitsubishi Electric Corp., ABB Ltd., Enphase Energy, Inc., KACO New Energy, Inc., Growatt New Energy Technology, Inc., Sungrow Power Supply Co., Ltd., Tabuchi Electric Co., Fronius International GmbH, SMA Solar Technology AG, Advanced Energy Industries, Inc., Schneider Electric, Inc. and others.