PV Inverter Market to surge owing to growing adoption of solar energy
PV Inverter Market The PV inverter market product description and advantages associated with use of PV inverters include their ability to convert direct current electricity generated by solar panels into alternating current electricity that can power home appliances or feed into the electric grid. Growing demand for clean and renewable sources of energy along with declining costs of solar panels has boosted adoption of solar energy globally. The global PV inverter market is estimated to be valued at US$ 15.28 billion in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024 to 2031. Key Takeaways Key players operating in the PV Inverter Market Growth are Eaton, Emerson Electric Co., Power Electronics S.L., Hitachi Hi-Rel Power Electronics Private Limited, Siemens Energy, Fimer Group, SMA Solar Technology AG, Delta Electronics, Inc, SunPower Corporation, Omron Corporation. Key players are focusing on developing advanced and efficient inverters to capitalize