Hybrid Inverters Market
Hybrid Inverters Market Size, Share, Growth Forecast Report By Application (Commercial Sector, Residential Sector, Government Sector) and Regional Forecast from 2018 to 2028
Analysis of Hybrid Inverters market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Market Overview
The eco-friendly nature of hybrid inverters paired with their myriad of benefits, such as low cost, uninterruptible power supply, small size, and stringent government regulations, have been fostering the adoption of hybrid inverters. The rise in the clamor for solar inverters is upgrading the hybrid inverters market as hybrid inverters are a sustainable and an eco-friendly power back option, being highly capable of simultaneously managing inputs from solar panels as well as battery banks, and can also charge batteries with both electricity grid and solar panels.
Furthermore, the proliferating government initiatives to enhance the electrification rate in different parts of the world is expected to influence hybrid inverters market in a positive way, by creating vast opportunities for hybrids inverters’ vendors. The leading players in hybrid inverters market are eying rural homes mainly, as these areas remain untouched by electrification, and thereby offer huge opportunities for sales of economical and user-friendly hybrid inverters.
The poor design flexibility and efficiency of hybrid inverters are identified as the key restraints in hybrid inverters market, however, the vendors have been embracing rapidly-advancing technology to address these challenges by offering highly user-friendly features in hybrid inverters. The potential of hybrid inverters to use inputs from wind turbines and several other power sources, continues to prompt manufacturers and vendors to explore frequently, in order to move ahead of the competition in hybrid inverters market..
Stringent governmental regulations and the go green factor are increasing the adoption of hybrid inverters. Hybrid inverters are multi-functional inverters that incorporate the function of the inverter, solar charger and battery charger to provide power supply. The compact size of the hybrid inverters with uninterruptible power supply is one of the major reasons of the increasing inclination towards hybrid inverters. Vendors offer hybrid inverters with user-friendly features such as LCD display, easy configuration, easily accessible operation buttons such as AC and solar charger, battery charging current and acceptable input voltage based on applications.
The major features of hybrid inverters are generating pure sine waves, installed MPPT charging control, configurable input voltage range for different applications at home and offices, LCD interface configurable battery charging current, configurable AC and solar charging, highly compatible to main voltage and power, protection against short circuit, overload and over temperature, smart battery charger for optimized battery performance and to save energy—the hybrid inverters come in ‘power saving mode’.
The growing adoption of solar inverters is creating a huge demand for hybrid inverters. Hybrid inverters are the mix of grid-tied inverters and off-grid inverters. Generally, hybrid inverters are independent of the grid, but they synchronize with the grid in case of consumption of low solar energy. Hybrid inverters have huge adoption in rural areas due to the less availability of power supply.
Hybrid inverter is a cost-effective and seamless solution compared to the other inverters. Most of the hybrid inverters can be installed without a battery. It provides an option to install battery in later circumstances. Several developments in hybrid inverters with reference to technology is the major factor expected to drive the growth of the global hybrid inverter market during the forecast period.
Hybrid Inverters Market: Drivers and Challenges
The governmental initiatives to increase the adoption of hybrid inverters are expected to drive the growth of the global hybrid inverters market during the forecast period. The investment tax credit (ITC) or federal solar tax credit enables to deduct 30% of the cost of installation of solar energy system from federal taxes. This applies to both commercial and residential system. Similarly, Germany in 2011 initiated the Renewable Energy Sources Act to encourage the citizens to use renewable energy generation utilities. All these factors are expected to have a significant impact on the growth for global hybrid inverters market.
The technical factors restraining the growth of the global hybrid inverters market are less design flexibility when compared to other battery and PV inverters, less efficiency than the solar inverters. However, manufacturers are focusing on the improvement of the performance of hybrid inverters and are expected to overcome these challenges during the forecast period.
Hybrid Inverter Market: Recent Developments
In July 2018, Schneider Electric, a leading player in energy management and automation successfully patented the new smart charge technology, i.e., Conext SW inverter. It initiates automatic battery charging and monitors excess power flow.
Key Players
Examples of some of the key players in the hybrid inverters market are Schneider Electric, Advanced Energy, ABB, Growatt New Energy Technology, Delta Energy Systems, Redback Technologies, TABUCHI ELECTRIC, SOLAX POWER, Lavancha Renewable Energy, and SolarEdge Technologies, among others.
Regional Overview
The hybrid inverters market is segmented into regions, namely North America, Latin America, Europe, CIS & Russia, Japan, APEJ and Middle East & Africa. The APEJ market is expected to hold a large share in the global market. The high adoption of solar technologies and initiatives from governments drive the demand for hybrid inverters in the region.
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The report covers exhaustive analysis on:
Hybrid Inverters Market Segments
- Market Dynamics
- Historical Actual Market Size, 2013 - 2017
- Market Size & Forecast 2018 to 2028
- Value Chain
- Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Market Drivers and Restraints
Regional analysis for hybrid inverters market includes development in the following regions:
- North America Hybrid Inverters Market
- U.S.
- Canada
- Latin America Hybrid Inverters Market
- Brazil
- Mexico
- Argentina
- Chile
- Peru
- Rest of LA
- Europe Hybrid Inverters Market
- EU – 4 (Germany, France, Italy, Spain)
- U.K.
- BENELUX (Belgium, Netherlands, Luxemburg)
- NORDIC (Norway, Denmark, Iceland, Sweden)
- Eastern Europe (Poland, Ukraine, Czech Rep., etc.)
- Rest of Europe
- CIS & Russia Hybrid Inverters Market
- Japan Hybrid Inverters Market
- APEJ Hybrid Inverters Market
- Greater China
- India
- Korea
- ASEAN Countries
- Rest of APEJ
- Middle East & Africa Hybrid Inverters Market
- GCC Countries
- Turkey
- Iran
- Israel
- South Africa
- Rest of MEA
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Report Highlights:
- Detailed overview of parent market
- Changing market dynamics of the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
- Must-have information for market players to sustain and enhance their market footprint
Hybrid Inverters Market: Segmentation
Segmentation Based on the Type of Application:
The hybrid inverter market is segmented based on the type of application i.e. commercial sector, residential sector, government sector and others.
Table of Content
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Application 7. Global Market Analysis and Forecast, By Application 7.1. Commercial sector 7.2. Residential sector 7.3. Government sector 7.4. Others 8. Global Market Analysis and Forecast, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. East Asia 8.6. South Asia & Pacific 8.7. MEA 9. North America Sales Analysis and Forecast, by Key Segments and Countries 10. Latin America Sales Analysis and Forecast, by Key Segments and Countries 11. Western Europe Sales Analysis and Forecast, by Key Segments and Countries 12. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries 13. East Asia Sales Analysis and Forecast, by Key Segments and Countries 14. South Asia & Pacific Sales Analysis and Forecast, by Key Segments and Countries 15. MEA Sales Analysis and Forecast, by Key Segments and Countries 16. Sales Forecast by Application for 30 Countries 17. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 18. Company Profile 18.1. Schneider Electric 18.2. Advanced Energy 18.3. ABB 18.4. Growatt New Energy Technology 18.5. Delta Energy Systems 18.6. Redback Technologies 18.7. TABUCHI ELECTRIC 18.8. SOLAX POWER 18.9. Lavancha Renewable Energy 18.10. SolarEdge Technologies 18.11. Others
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List Of Table
Table 01: Global Market US$ Mn Forecast by Region
Table 02: Global Market US$ Mn Forecast by Application
Table 03: North America Market US$ Mn Forecast by Country
Table 04: North America Market US$ Mn Forecast by Application
Table 05: Latin America Market US$ Mn Forecast by Country
Table 06: Latin America Market US$ Mn Forecast by Application
Table 07: Western Europe Market US$ Mn Forecast by Country
Table 08: Western Europe Market US$ Mn Forecast by Application
Table 09: Eastern Europe Market US$ Mn Forecast by Country
Table 10: Eastern Europe Market US$ Mn Forecast by Application
Table 11: East Asia Market US$ Mn Forecast by Country
Table 12: East Asia Market US$ Mn Forecast by Application
Table 13: South Asia & Pacific Market US$ Mn Forecast by Country
Table 14: South Asia & Pacific Market US$ Mn Forecast by Application
Table 15: MEA Market US$ Mn Forecast by Country
Table 16: MEA Market US$ Mn Forecast by Application
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Insights on import/export production,
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List Of Figures
Figure 01: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 02: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Region
Figure 03: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 04: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 05: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 06: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 07: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 08: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 09: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 10: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 11: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 12: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 13: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 14: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 15: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 16: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
How much is the Hybrid Inverters Market likely to register during the forecast period?
The hybrid inverters market is likely to record a CAGR of 8.92% during the forecast period.
Why Hybrid Inverters Market has High Growth potential?
The hybrid inverters market has high growth potential due to the rising adoption of solar inverters and beneficial government plans.
Where will Manufacturers find the Most Opportunities in the Hybrid Inverters Industry?
The manufacturers of the hybrid inverters industry are likely to find the most opportunities in the North American region.
Hybrid Inverters Market