PV Inverter Market Outlook

The PV inverter market is predicted to capture a valuation of US$ 1.5 billion in 2023, and is rising to US$ 2.8 billion by 2033. The market is estimated at a CAGR of 6.4% during the forecast period.

Factors influencing the market growth are

  • The rising demand for electricity, constant power cuts, and renewable energy are expanding the market growth.
  • Growing concern about the environment and awareness of sustainable and green energy is increasing the adoption of PV inverter.
  • To reduce carbon emissions and preference alternative power, increasing the demand for PV inverter.
  • The growing demand for PV inverter for commercial and industrial purposes for generating power is surging the market growth.
  • The government initiative plans and research and development activities are expanding the market opportunities.
  • A few solar inverters, including Sungrow inverters, hybrid solar inverters, and solar PV inverters, transfer the DC (Direct Current) from the solar panel.
  • The increasing remote area work and huge power cuts in rural areas are increasing the adoption of PV inverter.
  • Developing countries such as India and China are increasing the adoption of PV inverter due to growing demand for renewable, high electricity consumption, and cheap energy sources.

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Rising Electronic Goods Prices Limit the Market Growth

  • Increasing costs of electronic goods, technical issues with advanced technology, and low-income limit market growth.
  • Lack of awareness and adopting alternative options are also restraining the market growth.

Growing Trends Drives the Market Size

The increasing adoption of PV inverter on the top roof of commercial, household, and industrial usage propels market trends. The growing production of meticulous and renewable energy plants in various developing and developed countries to reduce the carbon footprint is increasing market trends.

Rising government schemes, such as FiTs (Feed-in Tariffs) to increase the installation of solar inverters, are enhancing the market trend. In an initiative program, the Chinese administration launched its new rooftop hybrid solar panel. The growing trade, government support, and adoption of solar conversion on several platforms are increasing the market trends.

Attributes Details
Market CAGR (2023 to 2033) 6.4%
Market Valuation (2023) US$ 1.5 billion
Market Valuation (2033) US$ 2.8 billion

PV Inverter Market, 2017 to 2022 Historical Sales, Compared to 2023 to 2033 Future Outlook

According to Future Market Insights, the global PV inverter market is predicted at a healthy 6.4% CAGR during the forecast period. Historically, the market registered a CAGR of 9.1% between 2017 and 2022.

Several end-use industries, including industrial, commercial, residential, and others, are flourishing the market growth. The global market pushes its sales of complementary products and solar inverters during the COVID-19 crisis. Due to growing consumer preference, awareness and alternative energy sources drive the market size.

  • Short Term (2023 to 2026): Rising demand for alternative electricity consumption and carbon emission control are bolstering market growth.
  • Medium Term (2026 to 2029): Growing adoption of PV inverter to provide sustainable, clean, and renewable energy is driving the market expansion.
  • Long Term (2029 to 2033): Rising investment, key companies, government initiatives, and innovations are expanding the market opportunities.

The market is estimated to reach US$ 2.8 billion during the forecast period. Historically, the market stood at US$ 1.4 billion from 2017 to 2022.

Nikhil Kaitwade
Nikhil Kaitwade

Principal Consultant

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Which Connectivity Type Segment Acquires Huge Growth Potential?

Based on connectivity type, the market is categorized into on-grid and standalone. The on-grid connectivity is expected to lead the global market by securing a higher CAGR during the forecast period. The rising demand for on-grid connectivity is due to efficient cost, energy, and increasing electricity consumption. The growing investment and focus on direct current electricity are boosting the demand for on-grid connectivity.

Three Phase Type – Dominating the Global Market

Based on phase type, the three-phase type is leading the global market by capturing a CAGR of 6.0% during the forecast period. Growing demand is there for three phase types for better performing equal distribution, advanced power, and transmission. The adoption of three phase types is increasing due to their accuracy and flexibility.

Three phase types contain maximum operational energy, limit energy waste and work efficiently, which are driving the market growth. Historically, the segment secured a CAGR of 8.6% between 2017 and 2022.

Which Product Type Category Dominates the Global Market?

Based on product type, the market is further categorized into central, micro, and string. The central type category is leading the market by occupying a CAGR of 6.2% during the forecast period. Several large enterprises and organizations are increasing the adoption of central-type inverters for efficient and constant work.

Increasing urbanization, infrastructure, and alternative power resources, including micro-inverter and solar panels, are boosting the demand for central-type inverters. Historically, the segment secured a CAGR of 8.9% between 2017 and 2022.

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Top Countries Data Table Mentioned Below

Countries United States
CAGR (2017 to 2022) 8.7%
CAGR (2023 to 2033) 6.2%
Valuation (2023 to 2033) US$ 992.0 million
Countries United Kingdom
CAGR (2017 to 2022) 7.7%
CAGR (2023 to 2033) 5.5%
Valuation (2023 to 2033) US$ 117.8 million
Countries China
CAGR (2017 to 2022) 8.3%
CAGR (2023 to 2033) 5.8%
Valuation (2023 to 2033) US$ 200.9 million
Countries Japan
CAGR (2017 to 2022) 7.2%
CAGR (2023 to 2033) 5.0%
Valuation (2023 to 2033) US$ 164.2 million
Countries South Korea
CAGR (2017 to 2022) 3%
CAGR (2023 to 2033) 4.6%
Valuation (2023 to 2033) US$ 99.6 million

Growing Demand for Hybrid Solar Inverter Drives the United States Market

The United States is likely to capture a CAGR of 6.2% with a valuation of US$ 992.0 million during the forecast period. The increasing demand for hybrid solar inverters, solar panel installation, and government subsidies propel the United States PV inverter market growth. Growing consumer preferences, urbanization, and large enterprises are further bolstering the market in the country.

The increasing demand for alternative sources and growing awareness is rising the sales of PV inverter. The United States government provided a 26% tax credit for installing the solar system in 2022. The adoption of central and three phase inverters is expected to propel the United States market size. Historically, the United States captured a CAGR of 8.7% between 2017 and 2022.

Favorable Government Policies Surge the United Kingdom Market

During the forecast period, the United Kingdom is expected to record a CAGR of 5.5% with a valuation of US$ 117.8 million. The rising key manufacturing companies, technical experts, and high efficiency of solar devices are fueling the United Kingdom PV inverter market. The end-user industries, distribution channels, and prominent vendors are surging market opportunities in the country.

The investors invest the maximum amount in the market to acquire maximum output in the United Kingdom. The rising demand for renewable energy and the manufacturing of advanced inverters are expected to boost the market. Historically, the United States secured a CAGR of 7.7% between 2017 and 2022.

Growing Consumption of Electricity Fosters China Market

China is one of the significant countries in the Asia Pacific region that captures a CAGR of 5.8% during the forecast period. The increasing number of solar installations and electricity cut-offs are enhancing the market expansion in China. Increasing trends of inverters and the growing population are expected to fuel the demand for PV inverter.

Key players, investors, and urbanization are accelerating the demand for PV inverter in China. The growth of several industries, infrastructure, and significant development is flourishing in China's PV inverter market. Historically, China captured a CAGR of 8.3% between 2017 and 2022.

Competitive Landscape

Several key vendors are focused on providing non-hazardous solar inverters that maintain a healthy environment. These players are adopting advanced and innovative skills to develop unique solar devices. Recently, the adoption of automatic gadgets, machines, and robotic devices is popularly attracting consumers' attention to work smoothly and efficiently without any workload.

The manufacturers are adopting several easy atmospheric inverters that may boost market expansion. The key vendor implements several plans and policies to develop durable, effective, and last-long PV inverters to satisfy consumers' demands. These players are adopting marketing tactics, including mergers, acquisitions, partnerships, collaborations, and agreements.

Other Key Players in the Market are

  • Eaton
  • Sungrow
  • Growatt New Energy
  • Darfon Electronics Corp
  • Schneider Electric
  • Enphase energy
  • Seimens
  • Fimer Group

Recent Developments in the Market are

  • In 2021, Sungrow Power partnered with Hudaco Energy to distribute solar products in South Africa.
  • In September 2021, Sungrow dealt with an agreement with a local distributor in Pakistan to supply commercial and residential inverters to get rid of the electricity cut-off.
  • In March 2021, Fronius International announced its single phase, Primo GEN24 Plus, a hybrid inverter. This inverter launched in the 3.0–6.0 kW category with a high-tech, flexible, stylish design.
  • In March 2020, Fimer Group acquired ABB, a solar inverter company. This acquisition took place to boost the company’s presence.

Scope of Report

Attribute Details
Forecast Period 2023 to 2033
Historical Data Available for 2017 to 2022
Market Analysis US$ billion for Value
Key Countries Covered United States, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Northern Africa, Türkiye, and South Africa
Key Segments Covered
  • Product
  • Phase
  • Connectivity
  • Nominal Power Output
  • Nominal Output Voltage
  • End-use Industry
  • Region
Key Companies Profiled
  • Eaton
  • Sungrow
  • Growatt New Energy
  • Darfon Electronics Corp
  • Schneider Electric
  • Enphase energy
  • Seimens
  • Fimer Group
Report Coverage Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing Available upon Request

PV Inverter Market Segmentation by Category

By Product:

  • String
  • Micro
  • Central

By Phase:

  • Single Phase
  • Three Phase

By Connectivity:

  • Standalone
  • On-grid

By Nominal Power Output:

  • < 0.5 kW
  • 0.50–3 kW
  • 3–33 kW
  • 33–110 kW
  • >110 kW

By Nominal Output Voltage:

  • < 230 V
  • 230–400 V
  • 400–600 V
  • 600 V

By Application:

  • Residential
  • Commercial & Industrial
  • Utility

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • The Middle East & Africa (MEA)

Frequently Asked Questions

Which is the Market Valuation of the United States by 2033?

The United States is expected to be worth around US$ 992 million by 2033.

What is the Growth Outlook of the Market in the United Kingdom?

The United Kingdom is estimated to record a growth of 5.5% through 2033.

Which Segment Holds a Leading Position in the PV Inverter Market?

Residential solar installations as people switch to solar power for environmental and cost-saving reasons.

What are the Current Trends in the PV Inverter Market?

Development of microinverters and the integration of smart grid technologies.

How Does Government Policy Influence the PV Inverter Market?

Government initiatives that encourage the use of renewable energy, such as subsidies and incentives, fuel the market expansion.

Table of Content
1. Executive Summary | PV Inverter Market
    1.1. Global Market Outlook
    1.2. Demand-side Trends
    1.3. Supply-side Trends
    1.4. Technology Roadmap Analysis
    1.5. Analysis and Recommendations
2. Market Overview
    2.1. Market Coverage / Taxonomy
    2.2. Market Definition / Scope / Limitations
3. Market Background
    3.1. Market Dynamics
        3.1.1. Drivers
        3.1.2. Restraints
        3.1.3. Opportunity
        3.1.4. Trends
    3.2. Scenario Forecast
        3.2.1. Demand in Optimistic Scenario
        3.2.2. Demand in Likely Scenario
        3.2.3. Demand in Conservative Scenario
    3.3. Opportunity Map Analysis
    3.4. Investment Feasibility Matrix
    3.5. PESTLE and Porter’s Analysis
    3.6. Regulatory Landscape
        3.6.1. By Key Regions
        3.6.2. By Key Countries
    3.7. Regional Parent Market Outlook
4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033
    4.1. Historical Market Size Value (US$ Million) Analysis, 2017 to 2022
    4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
        4.2.1. Y-o-Y Growth Trend Analysis
        4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Product
    5.1. Introduction / Key Findings
    5.2. Historical Market Size Value (US$ Million) Analysis By Product, 2017 to 2022
    5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Product, 2023 to 2033
        5.3.1. String
        5.3.2. Micro
        5.3.3. Central
    5.4. Y-o-Y Growth Trend Analysis By Product, 2017 to 2022
    5.5. Absolute $ Opportunity Analysis By Product, 2023 to 2033
6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Phase
    6.1. Introduction / Key Findings
    6.2. Historical Market Size Value (US$ Million) Analysis By Phase, 2017 to 2022
    6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Phase, 2023 to 2033
        6.3.1. Single Phase
        6.3.2. Three Phase
    6.4. Y-o-Y Growth Trend Analysis By Phase, 2017 to 2022
    6.5. Absolute $ Opportunity Analysis By Phase, 2023 to 2033
7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Connectivity
    7.1. Introduction / Key Findings
    7.2. Historical Market Size Value (US$ Million) Analysis By Connectivity , 2017 to 2022
    7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Connectivity , 2023 to 2033
        7.3.1. Standalone
        7.3.2. On-grid
    7.4. Y-o-Y Growth Trend Analysis By Connectivity , 2017 to 2022
    7.5. Absolute $ Opportunity Analysis By Connectivity , 2023 to 2033
8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Nominal Power Output
    8.1. Introduction / Key Findings
    8.2. Historical Market Size Value (US$ Million) Analysis By Nominal Power Output, 2017 to 2022
    8.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Nominal Power Output, 2023 to 2033
        8.3.1. ≤ 0.5 kW
        8.3.2. 0.5 - 3 kW
        8.3.3. 3 - 33 kW
        8.3.4. 33 - 110 kW
        8.3.5. > 110 kW
    8.4. Y-o-Y Growth Trend Analysis By Nominal Power Output, 2017 to 2022
    8.5. Absolute $ Opportunity Analysis By Nominal Power Output, 2023 to 2033
9. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Nominal Output Voltage
    9.1. Introduction / Key Findings
    9.2. Historical Market Size Value (US$ Million) Analysis By Nominal Output Voltage, 2017 to 2022
    9.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Nominal Output Voltage, 2023 to 2033
        9.3.1. ≤ 230 V
        9.3.2. 230 - 400 V
        9.3.3. 400 - 600 V
        9.3.4. > 600 V
    9.4. Y-o-Y Growth Trend Analysis By Nominal Output Voltage, 2017 to 2022
    9.5. Absolute $ Opportunity Analysis By Nominal Output Voltage, 2023 to 2033
10. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Application
    10.1. Introduction / Key Findings
    10.2. Historical Market Size Value (US$ Million) Analysis By Application, 2017 to 2022
    10.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Application, 2023 to 2033
        10.3.1. Residential
        10.3.2. Commercial & Industrial
        10.3.3. Utility
    10.4. Y-o-Y Growth Trend Analysis By Application, 2017 to 2022
    10.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033
11. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region
    11.1. Introduction
    11.2. Historical Market Size Value (US$ Million) Analysis By Region, 2017 to 2022
    11.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
        11.3.1. North America
        11.3.2. Latin America
        11.3.3. Europe
        11.3.4. Asia Pacific
        11.3.5. Middle East and Africa
    11.4. Market Attractiveness Analysis By Region
12. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
    12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022
    12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        12.2.1. By Country
            12.2.1.1.USA
            12.2.1.2. Canada
        12.2.2. By Product
        12.2.3. By Phase
        12.2.4. By Connectivity
        12.2.5. By Nominal Power Output
        12.2.6. By Nominal Output Voltage
        12.2.7. By Application
    12.3. Market Attractiveness Analysis
        12.3.1. By Country
        12.3.2. By Product
        12.3.3. By Phase
        12.3.4. By Connectivity
        12.3.5. By Nominal Power Output
        12.3.6. By Nominal Output Voltage
        12.3.7. By Application
    12.4. Key Takeaways
13. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
    13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022
    13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        13.2.1. By Country
            13.2.1.1. Brazil
            13.2.1.2. Mexico
            13.2.1.3. Rest of Latin America
        13.2.2. By Product
        13.2.3. By Phase
        13.2.4. By Connectivity
        13.2.5. By Nominal Power Output
        13.2.6. By Nominal Output Voltage
        13.2.7. By Application
    13.3. Market Attractiveness Analysis
        13.3.1. By Country
        13.3.2. By Product
        13.3.3. By Phase
        13.3.4. By Connectivity
        13.3.5. By Nominal Power Output
        13.3.6. By Nominal Output Voltage
        13.3.7. By Application
    13.4. Key Takeaways
14. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
    14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022
    14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        14.2.1. By Country
            14.2.1.1. Germany
            14.2.1.2. United kingdom
            14.2.1.3. France
            14.2.1.4. Spain
            14.2.1.5. Italy
            14.2.1.6. Rest of Europe
        14.2.2. By Product
        14.2.3. By Phase
        14.2.4. By Connectivity
        14.2.5. By Nominal Power Output
        14.2.6. By Nominal Output Voltage
        14.2.7. By Application
    14.3. Market Attractiveness Analysis
        14.3.1. By Country
        14.3.2. By Product
        14.3.3. By Phase
        14.3.4. By Connectivity
        14.3.5. By Nominal Power Output
        14.3.6. By Nominal Output Voltage
        14.3.7. By Application
    14.4. Key Takeaways
15. Asia Pacific Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
    15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022
    15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        15.2.1. By Country
            15.2.1.1. China
            15.2.1.2. Japan
            15.2.1.3. India
            15.2.1.4. Thailand
            15.2.1.5. Singapore
            15.2.1.6. Australia
            15.2.1.7. Rest of Asia Pacific
        15.2.2. By Product
        15.2.3. By Phase
        15.2.4. By Connectivity
        15.2.5. By Nominal Power Output
        15.2.6. By Nominal Output Voltage
        15.2.7. By Application
    15.3. Market Attractiveness Analysis
        15.3.1. By Country
        15.3.2. By Product
        15.3.3. By Phase
        15.3.4. By Connectivity
        15.3.5. By Nominal Power Output
        15.3.6. By Nominal Output Voltage
        15.3.7. By Application
    15.4. Key Takeaways
16. Middle East and Africa Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
    16.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022
    16.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        16.2.1. By Country
            16.2.1.1. GCC Countries
            16.2.1.2. South Africa
            16.2.1.3. Israel
            16.2.1.4. Rest of Middle East and Africa
        16.2.2. By Product
        16.2.3. By Phase
        16.2.4. By Connectivity
        16.2.5. By Nominal Power Output
        16.2.6. By Nominal Output Voltage
        16.2.7. By Application
    16.3. Market Attractiveness Analysis
        16.3.1. By Country
        16.3.2. By Product
        16.3.3. By Phase
        16.3.4. By Connectivity
        16.3.5. By Nominal Power Output
        16.3.6. By Nominal Output Voltage
        16.3.7. By Application
    16.4. Key Takeaways
17. Key Countries Market Analysis
    17.1.USA
        17.1.1. Pricing Analysis
        17.1.2. Market Share Analysis, 2022
            17.1.2.1. By Product
            17.1.2.2. By Phase
            17.1.2.3. By Connectivity
            17.1.2.4. By Nominal Power Output
            17.1.2.5. By Nominal Output Voltage
            17.1.2.6. By Application
    17.2. Canada
        17.2.1. Pricing Analysis
        17.2.2. Market Share Analysis, 2022
            17.2.2.1. By Product
            17.2.2.2. By Phase
            17.2.2.3. By Connectivity
            17.2.2.4. By Nominal Power Output
            17.2.2.5. By Nominal Output Voltage
            17.2.2.6. By Application
    17.3. Brazil
        17.3.1. Pricing Analysis
        17.3.2. Market Share Analysis, 2022
            17.3.2.1. By Product
            17.3.2.2. By Phase
            17.3.2.3. By Connectivity
            17.3.2.4. By Nominal Power Output
            17.3.2.5. By Nominal Output Voltage
            17.3.2.6. By Application
    17.4. Mexico
        17.4.1. Pricing Analysis
        17.4.2. Market Share Analysis, 2022
            17.4.2.1. By Product
            17.4.2.2. By Phase
            17.4.2.3. By Connectivity
            17.4.2.4. By Nominal Power Output
            17.4.2.5. By Nominal Output Voltage
            17.4.2.6. By Application
    17.5. Germany
        17.5.1. Pricing Analysis
        17.5.2. Market Share Analysis, 2022
            17.5.2.1. By Product
            17.5.2.2. By Phase
            17.5.2.3. By Connectivity
            17.5.2.4. By Nominal Power Output
            17.5.2.5. By Nominal Output Voltage
            17.5.2.6. By Application
    17.6. United kingdom
        17.6.1. Pricing Analysis
        17.6.2. Market Share Analysis, 2022
            17.6.2.1. By Product
            17.6.2.2. By Phase
            17.6.2.3. By Connectivity
            17.6.2.4. By Nominal Power Output
            17.6.2.5. By Nominal Output Voltage
            17.6.2.6. By Application
    17.7. France
        17.7.1. Pricing Analysis
        17.7.2. Market Share Analysis, 2022
            17.7.2.1. By Product
            17.7.2.2. By Phase
            17.7.2.3. By Connectivity
            17.7.2.4. By Nominal Power Output
            17.7.2.5. By Nominal Output Voltage
            17.7.2.6. By Application
    17.8. Spain
        17.8.1. Pricing Analysis
        17.8.2. Market Share Analysis, 2022
            17.8.2.1. By Product
            17.8.2.2. By Phase
            17.8.2.3. By Connectivity
            17.8.2.4. By Nominal Power Output
            17.8.2.5. By Nominal Output Voltage
            17.8.2.6. By Application
    17.9. Italy
        17.9.1. Pricing Analysis
        17.9.2. Market Share Analysis, 2022
            17.9.2.1. By Product
            17.9.2.2. By Phase
            17.9.2.3. By Connectivity
            17.9.2.4. By Nominal Power Output
            17.9.2.5. By Nominal Output Voltage
            17.9.2.6. By Application
    17.10. China
        17.10.1. Pricing Analysis
        17.10.2. Market Share Analysis, 2022
            17.10.2.1. By Product
            17.10.2.2. By Phase
            17.10.2.3. By Connectivity
            17.10.2.4. By Nominal Power Output
            17.10.2.5. By Nominal Output Voltage
            17.10.2.6. By Application
    17.11. Japan
        17.11.1. Pricing Analysis
        17.11.2. Market Share Analysis, 2022
            17.11.2.1. By Product
            17.11.2.2. By Phase
            17.11.2.3. By Connectivity
            17.11.2.4. By Nominal Power Output
            17.11.2.5. By Nominal Output Voltage
            17.11.2.6. By Application
    17.12. South Korea
        17.12.1. Pricing Analysis
        17.12.2. Market Share Analysis, 2022
            17.12.2.1. By Product
            17.12.2.2. By Phase
            17.12.2.3. By Connectivity
            17.12.2.4. By Nominal Power Output
            17.12.2.5. By Nominal Output Voltage
            17.12.2.6. By Application
    17.13. Thailand
        17.13.1. Pricing Analysis
        17.13.2. Market Share Analysis, 2022
            17.13.2.1. By Product
            17.13.2.2. By Phase
            17.13.2.3. By Connectivity
            17.13.2.4. By Nominal Power Output
            17.13.2.5. By Nominal Output Voltage
            17.13.2.6. By Application
    17.14. Singapore
        17.14.1. Pricing Analysis
        17.14.2. Market Share Analysis, 2022
            17.14.2.1. By Product
            17.14.2.2. By Phase
            17.14.2.3. By Connectivity
            17.14.2.4. By Nominal Power Output
            17.14.2.5. By Nominal Output Voltage
            17.14.2.6. By Application
    17.15. Australia
        17.15.1. Pricing Analysis
        17.15.2. Market Share Analysis, 2022
            17.15.2.1. By Product
            17.15.2.2. By Phase
            17.15.2.3. By Connectivity
            17.15.2.4. By Nominal Power Output
            17.15.2.5. By Nominal Output Voltage
            17.15.2.6. By Application
    17.16. GCC Countries
        17.16.1. Pricing Analysis
        17.16.2. Market Share Analysis, 2022
            17.16.2.1. By Product
            17.16.2.2. By Phase
            17.16.2.3. By Connectivity
            17.16.2.4. By Nominal Power Output
            17.16.2.5. By Nominal Output Voltage
            17.16.2.6. By Application
    17.17. South Africa
        17.17.1. Pricing Analysis
        17.17.2. Market Share Analysis, 2022
            17.17.2.1. By Product
            17.17.2.2. By Phase
            17.17.2.3. By Connectivity
            17.17.2.4. By Nominal Power Output
            17.17.2.5. By Nominal Output Voltage
            17.17.2.6. By Application
    17.18. Israel
        17.18.1. Pricing Analysis
        17.18.2. Market Share Analysis, 2022
            17.18.2.1. By Product
            17.18.2.2. By Phase
            17.18.2.3. By Connectivity
            17.18.2.4. By Nominal Power Output
            17.18.2.5. By Nominal Output Voltage
            17.18.2.6. By Application
18. Market Structure Analysis
    18.1. Competition Dashboard
    18.2. Competition Benchmarking
    18.3. Market Share Analysis of Top Players
        18.3.1. By Regional
        18.3.2. By Product
        18.3.3. By Phase
        18.3.4. By Connectivity
        18.3.5. By Nominal Power Output
        18.3.6. By Nominal Output Voltage
        18.3.7. By Application
19. Competition Analysis
    19.1. Competition Deep Dive
        19.1.1. General Electric
            19.1.1.1. Overview
            19.1.1.2. Product Portfolio
            19.1.1.3. Profitability by Market Segments
            19.1.1.4. Sales Footprint
            19.1.1.5. Strategy Overview
                19.1.1.5.1. Marketing Strategy
        19.1.2. Eaton
            19.1.2.1. Overview
            19.1.2.2. Product Portfolio
            19.1.2.3. Profitability by Market Segments
            19.1.2.4. Sales Footprint
            19.1.2.5. Strategy Overview
                19.1.2.5.1. Marketing Strategy
        19.1.3. Sungrow
            19.1.3.1. Overview
            19.1.3.2. Product Portfolio
            19.1.3.3. Profitability by Market Segments
            19.1.3.4. Sales Footprint
            19.1.3.5. Strategy Overview
                19.1.3.5.1. Marketing Strategy
        19.1.4. Growatt New Energy
            19.1.4.1. Overview
            19.1.4.2. Product Portfolio
            19.1.4.3. Profitability by Market Segments
            19.1.4.4. Sales Footprint
            19.1.4.5. Strategy Overview
                19.1.4.5.1. Marketing Strategy
        19.1.5. Darfon Electronics Corp.
            19.1.5.1. Overview
            19.1.5.2. Product Portfolio
            19.1.5.3. Profitability by Market Segments
            19.1.5.4. Sales Footprint
            19.1.5.5. Strategy Overview
                19.1.5.5.1. Marketing Strategy
        19.1.6. Schneider Electric
            19.1.6.1. Overview
            19.1.6.2. Product Portfolio
            19.1.6.3. Profitability by Market Segments
            19.1.6.4. Sales Footprint
            19.1.6.5. Strategy Overview
                19.1.6.5.1. Marketing Strategy
        19.1.7. Enphase Energy
            19.1.7.1. Overview
            19.1.7.2. Product Portfolio
            19.1.7.3. Profitability by Market Segments
            19.1.7.4. Sales Footprint
            19.1.7.5. Strategy Overview
                19.1.7.5.1. Marketing Strategy
        19.1.8. Siemens
            19.1.8.1. Overview
            19.1.8.2. Product Portfolio
            19.1.8.3. Profitability by Market Segments
            19.1.8.4. Sales Footprint
            19.1.8.5. Strategy Overview
                19.1.8.5.1. Marketing Strategy
        19.1.9. Fimer Group
            19.1.9.1. Overview
            19.1.9.2. Product Portfolio
            19.1.9.3. Profitability by Market Segments
            19.1.9.4. Sales Footprint
            19.1.9.5. Strategy Overview
                19.1.9.5.1. Marketing Strategy
        19.1.10. Eaton
            19.1.10.1. Overview
            19.1.10.2. Product Portfolio
            19.1.10.3. Profitability by Market Segments
            19.1.10.4. Sales Footprint
            19.1.10.5. Strategy Overview
                19.1.10.5.1. Marketing Strategy
20. Assumptions & Acronyms Used
21. Research Methodology
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