Renewable Energy Inverters Market by Application and Geography - Global Forecast and Analysis 2019-2023

Renewable Energy Inverters Market by Application and Geography - Global Forecast and Analysis 2019-2023

Global Renewable Energy Inverters Market: About this market

Technavio’s renewable energy inverters market analysis considers sales from its applications in wind energy, EV, and solar PV. Our analysis also considers the sales of renewable energy inverters in APAC, Europe, North America, and ROW. In 2018, the solar PV segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the declining cost of solar PV modules will play a significant role in the solar PV segment to maintain its market position. Also, our global renewable energy inverters market report looks at factors such as the declining cost of solar and wind power generation, supportive government policies and regulations for renewable power generation, and shift toward EVs in the automotive industry. However, inverter associated solar PV system failures, intermittent nature of renewable sources of energy, and challenges posed by alternative sources of energy may hamper the growth of the renewable energy inverters industry over the forecast period.

Global Renewable Energy Inverters Market: Overview

Supportive government policies and regulations for renewable power generation

The inclusion of renewable sources of energy to change the global energy mix is a crucial step toward ensuring the emission-free generation of energy. Globally, governments are offering subsidies, incentives, and tax benefits to support the adoption of renewable technologies. For instance, as of May 2019, the US government was offering incentives for wind installation under the renewable electricity production tax credit (PTC).  Such initiatives will lead to the expansion of the global renewable energy inverters market at a CAGR of over 11% during the forecast period.

Development of smart cities and ZEBs

Governments across the world are implementing several initiatives for the development of sustainable smart cities.  The adoption of solar energy, EVs, sensors, and mobile applications helps to improve security, public transportation, lighting, parking, and waste management., contributing to integrated building management. The construction sector is adopting multiple energy efficiency measures such as using better materials and designs in a bid to reduce fossil fuel-based energy consumption and minimize GHG emissions. This concept is known as zero-energy building (ZEB) as the building generates its energy using renewable sources, and this energy is equal to the amount it consumes on an annual basis. Therefore, the rise in the adoption of ZEBs, along with the ongoing development of smart cities, is expected to have a positive impact on the overall market growth.

For the detailed list of factors that will drive the global renewable energy inverters market during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of several major players, the global renewable energy inverters market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading renewable energy inverters manufacturers, that include Huawei Investment & Holding Co. Ltd., ABB Ltd., Jiangsu GoodWe Power Supply Technology Co. Ltd., KACO new energy GmbH, Mitsubishi Electric Corp., Mitsubishi Electric Corp., Schneider Electric SE, Sineng Electric Co. Ltd., SMA Solar Technology AG, and Sungrow Power Supply Co. Ltd.

Also, the renewable energy inverters market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.


  • Executive summary
  • Scope of the report
    • Preface
      • Table Vendor - Key offerings
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global electrical equipment market
      • Table Segments of global electrical equipment market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 ($ millions)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by application
    • Table Application - Market share 2018-2023 (%)
    • Comparison by application
      • Table Comparison by application
    • Solar PV - Market size and forecast 2018-2023
      • Table Solar PV - Market size and forecast 2018-2023 ($ millions)
      • Table Solar PV - Year-over-year growth 2019-2023 (%)
    • EV - Market size and forecast 2018-2023
      • Table EV - Market size and forecast 2018-2023 ($ millions)
      • Table EV - Year-over-year growth 2019-2023 (%)
    • Wind - Market size and forecast 2018-2023
      • Table Wind - Market size and forecast 2018-2023 ($ millions)
      • Table Wind - Year-over-year growth 2019-2023 (%)
    • Market opportunity by application
      • Table Market opportunity by application
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 ($ millions)
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • Europe - Market size and forecast 2018-2023
      • Table Europe - Market size and forecast 2018-2023 ($ millions)
      • Table Europe - Year-over-year growth 2019-2023 (%)
    • North America - Market size and forecast 2018-2023
      • Table North America - Market size and forecast 2018-2023 ($ millions)
      • Table North America - Year-over-year growth 2019-2023 (%)
    • ROW - Market size and forecast 2018-2023
      • Table ROW - Market size and forecast 2018-2023 ($ millions)
      • Table ROW - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
    • Advances in power electronics used in solar PV systems
    • Increasing adoption of microgrids
    • Development of smart cities and ZEBs
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • ABB Ltd.
      • Table ABB Ltd. - Vendor overview
      • Table ABB Ltd. - Business segments
      • Table ABB Ltd. - Organizational developments
      • Table ABB Ltd. - Geographic focus
      • Table ABB Ltd. - Segment focus
      • Table ABB Ltd. - Key offerings
    • Huawei Investment & Holding Co. Ltd.
      • Table Huawei Investment & Holding Co. Ltd. - Vendor overview
      • Table Huawei Investment & Holding Co. Ltd. - Business segments
      • Table Huawei Investment & Holding Co. Ltd. - Organizational developments
      • Table Huawei Investment & Holding Co. Ltd. - Geographic focus
      • Table Huawei Investment & Holding Co. Ltd. - Segment focus
      • Table Huawei Investment & Holding Co. Ltd. - Key offerings
    • Jiangsu GoodWe Power Supply Technology Co. Ltd.
      • Table Jiangsu GoodWe Power Supply Technology Co. Ltd. - Vendor overview
      • Table Jiangsu GoodWe Power Supply Technology Co. Ltd. - Organizational developments
      • Table Jiangsu GoodWe Power Supply Technology Co. Ltd. - Key offerings
    • KACO new energy GmbH
      • Table KACO new energy GmbH - Vendor overview
      • Table KACO new energy GmbH - Organizational developments
      • Table KACO new energy GmbH - Key offerings
    • Mitsubishi Electric Corp.
      • Table Mitsubishi Electric Corp. - Vendor overview
      • Table Mitsubishi Electric Corp. - Business segments
      • Table Mitsubishi Electric Corp. - Organizational developments
      • Table Mitsubishi Electric Corp. - Geographic focus
      • Table Mitsubishi Electric Corp. - Segment focus
      • Table Mitsubishi Electric Corp. - Key offerings
    • Power Electronics España SL
      • Table Power Electronics España SL - Vendor overview
      • Table Power Electronics España SL - Organizational developments
      • Table Power Electronics España SL - Key offerings
    • Schneider Electric SE
      • Table Schneider Electric SE - Vendor overview
      • Table Schneider Electric SE - Business segments
      • Table Schneider Electric SE - Organizational developments
      • Table Schneider Electric SE - Geographic focus
      • Table Schneider Electric SE - Segment focus
      • Table Schneider Electric SE - Key offerings
    • Sineng Electric Co. Ltd.
      • Table Sineng Electric Co. Ltd. - Vendor overview
      • Table Sineng Electric Co. Ltd. - Organizational developments
      • Table Sineng Electric Co. Ltd. - Key offerings
    • SMA Solar Technology AG
      • Table SMA Solar Technology AG - Vendor overview
      • Table SMA Solar Technology AG - Business segments
      • Table SMA Solar Technology AG - Organizational developments
      • Table SMA Solar Technology AG - Geographic focus
      • Table SMA Solar Technology AG - Segment focus
      • Table SMA Solar Technology AG - Key offerings
    • Sungrow Power Supply Co. Ltd.
      • Table Sungrow Power Supply Co. Ltd. - Vendor overview
      • Table Sungrow Power Supply Co. Ltd. - Organizational developments
      • Table Sungrow Power Supply Co. Ltd. - Geographic focus
      • Table Sungrow Power Supply Co. Ltd. - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
    • Definition of market positioning of vendors
      • Table Definition of market positioning of vendors
  • Explore Technavio

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