According to the recent research report titled ‘Global Inverter Market 2022-2028’ available with MarketStudyReport, global PV inverter market is likely to generate returns worth USD 15,233 million by the year 2028, exhibiting a CAGR of 5.8% during the study period.

Mounting investments in renewable energy generation, increasing green infrastructural development, and growing demand for power backup systems are some of the primary growth stimulants of global inverter market.

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Wind turbines or photovoltaic modules provide DC electricity, which is stored in batteries, and inverters convert it to 230V 50Hz AC power, which is needed to run traditional appliances and connect to the grid.

The data-driven research report focuses on the major development trends of this business vertical, the various segmentation, the regional terrain, and the competitive arena. The research is a significant asset for existing businesses, prospective entrants, and future investors given that it provides a complete market assessment throughout the major geographies.

Notably, the worldwide inverter industry vertical is segmented by product type, grid connectivity, and geographical landscape. Further, based on grid connectivity, the global inverter business sphere is split into on-grid, and off-grid segments.

Global inverter marketplace, based on product type, is segregated into battery Inverters, wind inverters, PV inverters, and others. The PV inverter segment is predicted to account for the largest market share by the end of the forecast duration, primarily due to the growing number of PV power plant installations around the world.

Based on geographical landscape, the marketplace is segmented into North America, Asia Pacific, Europe, and the rest of the world.

The top players in the global inverter market are Fimer S.p.A., Enphase Energy Inc., Jiangsu GoodWe Power Supply Technology Co. Ltd., Fronius International GmbH, Huawei Technologies Co. Ltd., Ginlong Technologies Co. Ltd., Ingeteam Power Technology S.A., Kehua Hengsheng Co. Ltd., Shenzhen Growatt New Energy Technology Co. Ltd., Power Electronics S.L., Sineng Electric Co. Ltd.,  Shenzhen KSTAR Science and Technology Co. Ltd., SolarEdge Technologies Inc., SMA Solar Technology AG, Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC), and Sungrow Power Supply Co. Ltd. among others.