Growing demand for renewable energy due to high power consumption and a reduction in renewable power generation costs drives the PV inverter market growth. Further, rising utility and industrial based solar PV deployment, integration of advanced energy infrastructure, and a reduction of installation costs for solar modules, inverters, and related equipment are also triggering the demand for the PV inverter market growth.
Competitive Landscape: ABB, Delta Electronics Inc., Eaton Corporation plc, Emerson Electric Co., General Electric Company, OMRON Corporation, Power Electronics S.L., Siemens AG, SMA Solar Technology AG, SunPower Corporation
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Stringent government norms about emissions, growing inclination toward integrating advanced inverter units, and large-scale deployment of sustainable energy systems are the major factors booming the PV inverter market growth. Moreover, favorable regulatory inclination towards sustainable energy, expansion of micro-grid networks in the developed countries, rising adoption of smart technologies across the energy storage systems, and increasing operational ability across residential and commercial establishments are positively impacting the growth of the PV inverter market.
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In Market Segmentation by Geographical Regions, the report has analyzed the following regions-
North America (USA, Canada and Mexico) Europe(Germany, France, UK, Russia and Italy) Asia-Pacific (China, Japan, Korea, India and Southeast Asia) South America (Brazil, Argentina, Columbia etc.) Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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