Utility Scale PV Inverter Market Analysis

Product (String, Central)

The central segment is expected to hold 54% share of the global utility scale PV inverter market by 2037. The increasing emphasis on distributed generating technologies in conjunction with the development of sustainable energy systems is credited with the segment's significant rise. Product acceptance will soar because to low operating and maintenance costs, simple installation, and upgraded manufacturing facilities. These systems include centralized power control, which makes it simple to manage products and optimize costs, both of which will spur market expansion. Globally, utility-scale solar projects are becoming more and more popular. To handle the larger capacity, these large-scale installations need central inverters with high power ratings. Manufacturers of central inverters thus concentrated on creating and refining their goods for utility-scale uses. Manufacturers of central inverters constantly spend money on R&D to improve the effectiveness, dependability, and performance of their machines. Power density, thermal control, and grid integration capabilities were among the technological advances. Furthermore, several manufacturers began adding sophisticated capabilities to their central inverters, such as data analytics, remote monitoring, and grid support functions, which accelerated the expansion of the market.

Voltage (< 1500V, ≥ 1500 V)

The < 1500 V segment in the utility scale PV inverter market is anticipated to hold the largest revenue share. Growing consumer knowledge of the benefits of using low-CO2 products to reduce greenhouse gas emissions is credited with the segment's expansion. <1500V string inverters have a number of benefits, such as module-level MPPT, easier installation, and enhanced system monitoring. When tiny to medium-sized PV arrays are used in residential and commercial settings, these inverters are especially well-liked. Due to their minimal management and maintenance requirements, these systems are expected to fuel the market's growth. In particular, 1500V systems are capable of providing 50% longer strings and larger inverters with an output up to 40% more. The power density and performance of this system are the highest in terms of PV systems.

Our in-depth analysis of the global market includes the following segments: