Latest news with #Photovoltaic
Yahoo
21-05-2025
- Business
- Yahoo
Photovoltaic Inverters Strategic Business Report 2025: Market to Reach $19.8 Billion by 2030 from $12.1 Billion in 2024 - Rising Adoption of Energy Storage Solutions Generate Opportunities
The global Photovoltaic (PV) Inverters market, valued at US$12.1 Billion in 2024, is projected to reach US$19.8 Billion by 2030, with a CAGR of 8.4%. Key growth drivers include advances in inverter technology, residential and commercial solar adoption, and integration with smart grid and energy management systems. Market trends highlight rising demand for in-home EV charging solutions and the critical role of PV inverters in enhancing energy efficiency and independence. The report offers a detailed analysis of market segments, including product type, connection type, power class, and end-use, across major geographic regions such as the U.S., China, Europe, and Asia-Pacific. Photovoltaic (PV) Inverters Market Dublin, May 21, 2025 (GLOBE NEWSWIRE) -- The "Photovoltaic (PV) Inverters - Global Strategic Business Report" report has been added to global market for Photovoltaic (PV) Inverters was valued at US$12.1 Billion in 2024 and is projected to reach US$19.8 Billion by 2030, growing at a CAGR of 8.4% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Photovoltaic (PV) Inverters market. Photovoltaic (PV) inverters play a critical role in the solar energy sector, converting direct current (DC) electricity generated by solar panels into alternating current (AC) electricity that can be used by homes, businesses, and industries. This conversion is essential for integrating solar power into the existing electrical grid. PV inverters also regulate voltage and frequency, ensuring that the electricity supplied is stable and reliable. Beyond their basic function, PV inverters are now being used in innovative applications such as photovoltaic water pump systems, which are particularly beneficial for irrigation and agricultural activities. These systems use solar panels to generate electricity, which is then converted by inverters to power water pumps, providing a reliable water supply even in off-grid or remote efficiency and reliability of PV inverters are crucial for the overall performance of solar energy systems. High-quality inverters maximize the energy output from solar panels and minimize energy waste, contributing to cost savings and a lower carbon footprint. Furthermore, PV inverters enhance energy resilience and independence, especially when used in off-grid operations. This is particularly important for remote areas that lack access to the electrical grid, where PV inverters paired with photovoltaic water pump systems can significantly improve water accessibility and agricultural productivity. The durability and reliability of inverters are emphasized through rigorous testing and certification processes to ensure they meet global and local standards, such as those set by the International Electrotechnical Commission (IEC) and other regulatory key factors are driving the growth of the PV inverter market. The integration of PV inverters with smart grid technology enhances their functionality and compatibility with modern energy systems. Advances in inverter technology have led to improved efficiency and performance, making them more attractive to residential and commercial users. The trend towards residential solar installations and the increasing adoption of PV inverters in commercial, industrial, and agricultural sectors are boosting demand. Environmental awareness and the preference for energy independence are also significant drivers, as consumers seek green energy solutions and off-grid systems. Additionally, the rise in electric vehicle ownership is creating demand for integrated PV inverter solutions for home EV charging. Government incentives and subsidies, mandatory renewable energy targets, and the development of modular and scalable designs are further promoting the adoption of PV inverters. Innovations in installation and maintenance, compatibility with battery storage systems, and the incorporation of smart energy management systems are enhancing their accessibility and efficiency. The use of microinverters and power optimizers, which offer module-level power optimization, is also becoming more popular, contributing to the overall growth of the PV inverter ScopeKey Insights: Market Growth: Understand the significant growth trajectory of the Central Inverter segment, which is expected to reach US$9.9 Billion by 2030 with a CAGR of a 9.0%. The String Inverter segment is also set to grow at 7.1% CAGR over the analysis period. Regional Analysis: Gain insights into the U.S. market, valued at $3.1 Billion in 2024, and China, forecasted to grow at an impressive 12.4% CAGR to reach $5.0 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific. Report Features: Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030. In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa. Company Profiles: Coverage of players such as ABB Ltd., Elettronica Santerno S.p.A, Enphase Energy Inc., Fronius International GmbH, Ingeteam Corporacion, S.A. and more. Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments. Segments: Product Type (Central Inverter, String Inverter, Micro Inverter) Connection Type (On-Grid, Off-Grid) Power Class (Three-Phase, Single-Phase) End-Use (Utilities, Residential, Other End-Uses) Tariff Impact Analysis: Key Insights for 2025What's Included in This Edition: Tariff-adjusted market forecasts by region and segment Analysis of cost and supply chain implications by sourcing and trade exposure Strategic insights into geographic shifts Buyers receive a free July 2025 update with: Finalized tariff impacts and new trade agreement effects Updated projections reflecting global sourcing and cost shifts Expanded country-specific coverage across the industry Key Attributes: Report Attribute Details No. of Pages 278 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $12.1 Billion Forecasted Market Value (USD) by 2030 $19.8 Billion Compound Annual Growth Rate 8.4% Regions Covered Global Key Topics Covered: MARKET OVERVIEW Influencer Market Insights Tariff Impact on Global Supply Chain Patterns Photovoltaic (PV) Inverters - Global Key Competitors Percentage Market Share in 2024 (E) Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E) MARKET TRENDS & DRIVERS Growing Demand for Renewable Energy Sources Spurs PV Inverter Market Growth Advances in PV Inverter Technology Propel Innovation and Efficiency Rising Adoption of Solar Energy Systems Expands Market Potential Increasing Need for Reliable and Efficient Energy Conversion Drives Demand Product Innovations and Customization Strengthen Business Case for PV Inverter Adoption Expanding Use of PV Inverters in Residential and Commercial Solar Installations Sustains Market Growth Government Initiatives and Incentives for Solar Energy Spur Market Expansion Continuous R&D Investments Propel Innovation in PV Inverter Design and Functionality Increasing Preference for High-Efficiency and Smart PV Inverters Drives Demand Strategic Collaborations and Partnerships Strengthen Market Position for Key Players Rising Awareness and Implementation of Energy Storage Solutions Generate Market Opportunities Technological Advancements in Grid Integration and Energy Management Expand Market Potential Growing Adoption of PV Inverters in Emerging Markets Propels Market Growth Focus on Reducing Energy Costs and Enhancing Solar Power Output Drives Demand for Advanced PV Inverters Influence of Digitalization and Smart Grid Technologies Expands Market Reach FOCUS ON SELECT PLAYERS:Some of the 52 companies featured in this Photovoltaic (PV) Inverters market report include: ABB Ltd. Elettronica Santerno S.p.A Enphase Energy Inc. Fronius International GmbH Ingeteam Corporacion, S.A. KACO new energy GmbH Sineng SMA Solar Technology AG Sungrow Power Supply TMEIC For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Photovoltaic (PV) Inverters Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
India.com
24-04-2025
- Business
- India.com
This company bags 4.1 MW On-Grid Rooftop Solar Order from Indian Railway, project values Rs...
New Delhi: Servotech Renewable Power System Ltd. (formerly known as Servotech Power Systems Ltd.), a leading provider of solar energy solutions, has secured a prestigious order for a 4.1 MW on-grid rooftop solar project from the Waltair Division, East Coast Railway, situated in Visakhapatnam, Andhra Pradesh. The project is valued at ₹15.8 crore. Under the scope of this contract, Servotech will undertake the design, manufacturing, supply, installation, testing, and commissioning of rooftop ongrid Solar Photovoltaic (PV) plants of varying capacities across multiple sites within the waltair division. This initiative is part of the Indian Railways' broader mission to integrate renewable energy into its infrastructure and reduce its carbon footprint, reinforcing its position as a leader in sustainable transportation. Sarika Bhatia, Director, Servotech Renewable Power System Ltd., commented, 'We are delighted to have been awarded this significant 4.1 MW rooftop solar project by the Waltair Division of the East Coast Railway. This order reaffirms Servotech's position as a trusted partner in India's renewable energy landscape. We are committed to delivering best-in-class solar solutions and are proud to support Indian Railways in its journey towards cleaner and greener operations.' This win further strengthens Servotech's growing portfolio in the public sector and showcases its capabilities in executing large-scale solar projects with highquality standards and efficiency. Earlier, the home-grown company and France-based Watt & Well signed an agreement to develop and manufacture EV charger components. The agreement aims to design, manufacture and sell EV charger components in India, Servotech Renewable Power System Ltd said in a statement. Under the pact, Servotech said it will manufacture power modules in India to achieve the 'Make in India' mission, while Watt & Well will provide technical support. Servotech will have the exclusive right to market and sell these components in India. The collaboration will initially focus on the development of a 30 kW power module for use in the Indian EV charging market. With PTI inputs
