Global Hybrid Inverter Market by Product Type (Single-Phase Hybrid Inverter and Three-Phase Hybrid Inverter) by Power Rating (Up To 10 Kw, 10–50 Kw, 51–100 Kw, and Above 100 Kw) by Output Voltage (100–300 V, 301–500 V, and Above 500 V) by Sales Channel (Direct, and Indriect) by End-User (Residential, Commerical, and Industrial) and by Region - Global Trends and Forecast to 2027
Hybrid inverter is an all-in-one solution that includes different functions. It has an integrated solar charge controller that connects to the solar panels and regulates the solar panel’s output voltage to the loads and/or batteries. A hybrid inverter converts the DC to AC to operate typical home and business appliances & equipment. If approved in the local area, the utility grid can also use the energy created by the solar panels. The hybrid inverter also serves as a battery charger, taking power from PV and/or an AC source to charge the batteries. Hybrid inverters are also called multi-mode inverters. They are gaining significant traction globally, along with solar inverters, as hybrid inverter technology transforms standard solar inverters into advanced inverters. Hybrid inverters differ in size, features, and performance.
Hybrid inverter market, based on product type, have been categorized as single-phase hybrid inverter, and three-phase hybrid inverter. A single-phase hybrid inverter means that there will be one conductor, and three -phase hybrid inverter means three conductors. The majority of residential sectors are fine with a single-phase system, and only need to step up to three phase hybrid inverters if the energy needs increase significantly for some reason, perhaps due to the installation of a heavier duty air conditioning system because of hot weather condition. Large houses, Industries, and residential apartment buildings will generally always require three phase hybrid inverters.
Hybrid inverter market, based on power rating, have been categorized as Up to 10kW, 11–50 kW, 51–100kW, and above 100 kW. Hybrid inverters with output power ratings below 10 kW are suitable for use in the residential and commercial sectors. Hybrid inverters with an output power rating ranging from 10 to 50 kW are majorly used in the commercial sector. This inverter is ideal for rooftops, carports, or ground mounts. These inverters have high system voltages and use a broad range of input voltages to operate. The hybrid inverters with 51–100 kW output power ratings are used in operations where the use of hybrid inverters with above 100 kW output power ratings may be uneconomical, and up to 10 kW output power ratings may be unable to provide sufficient efficiency and robustness. The inverters with an output rating ranging from 50 to 100 kW are majorly deployed in commercial and various industries. Above 100 kW hybrid inverters are suitable for applications in industrial, and commercial sector.
Hybrid inverter market, based on output voltage, have been categorized as 100–300 V, 301–500 V, and above 500 V. Output voltage from a hybrid inverter varies based on the end user’s requirements. The end users from the residential sector require 240 V for their operations. Thus, they generally opt for hybrid inverters with output voltages ranging from 100–300 V. End users from the commercial sector have more load, for which they opt for voltages in the range of 301–500 V and above.
Hybrid inverter market, based on sales channel, have been categorized as direct, and indirect sales. Direct sales are generally processed by the company directly to its customer and require high investments in setting up warehouses and logistic systems and hiring staff to align with the distribution channel. Direct sales channels can help companies build strong relationships with customers and establish their brands in the long run. Indirect sales channels involve third-party partners who sell the parent company’s products to end users. The third-party partners are the distributors and service providers who deliver products and install them on the premises as per the customer’s requirements. The mode of sales depends on the company’s choice of whether to offer its products directly or indirectly.
Hybrid inverter market, based on end user, have been categorized as residential, commercial, and industrial. Governments across the globe are taking initiatives to increase renewable energy access to households by installing rooftop systems and providing subsidies for installation. For instance, In the US, feed-in-tariff was a feature introduced that guarantees payments to renewable energy generators for all the solar energy produced they supply to the grid. In these solar installations, the commonly used inverters are hybrid inverters. Urbanization has made the commercial sector undergo various developments in hotels, hospitals, educational institutions, shopping complexes, etc. This also increased the electricity demand in this sector with the shift in the population from rural to urban. Due to urbanization and an increase in the energy demand, governments in various countries are introducing policies for renewables in various sectors, such as commercial, and industrial. Hybrid inverters are commonly used in these developments.
In terms of region, the hybrid inverter market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America. This section has also studied the key country-wise markets in these regions. Government policies in accordance with the climate change goals are being designed for every region across the globe to achieve net-zero targets, increasing the developments in the renewable energy sector by involving government and private organization investments in the sector. For instance, In the Asia Pacific region, the solar inverters demand has been increasing in the following years. The major factor contributing to favourable government policies is to increase renewable energy in the country’s total energy mix. For instance, the National Solar Mission, an initiative by the Indian government to promote solar power, has set targets for installing 175 GW of renewable energy sources by 2022. In which the solar segment will contribute 100 GW. Other regions across the globe are also experiencing similar trends. Thus, the demand for hybrid inverters is likely to increase due to the climate change policies implemented by various governments
The few of the major players operating in the hybrid inverter market include Schneider Electric, Havells, Fronius, Phocos, ABB, SMA Solar Technology AG, Huawei Technologies, Solaredge, Luminous, and Flin Energy.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. STUDY OBJECTIVES
1.2. MARKET DEFINITION
1.3. INCLUSIONS AND EXCLUSIONS
1.3.1. HYBRID INVERTER MARKET, BY PRODUCT TYPE: INCLUSION AND EXCLUSIONS
1.3.2. HYBRID INVERTER MARKET, BY POWER RATING: INCLUSION AND EXCLUSIONS
1.3.3. HYBRID INVERTER MARKET, BY OUTPUT VOLTAGE: INCLUSION AND EXCLUSIONS
1.3.4. HYBRID INVERTER MARKET, BY SALES CHANNEL: INCLUSION AND EXCLUSIONS
1.3.5. HYBRID INVERTER MARKET, BY END-USER: INCLUSION AND EXCLUSIONS
1.4. MARKET SCOPE
1.4.1. MARKET SEGMENTATION
1.4.2. REGIONAL SCOPE
1.5. YEARS CONSIDERED
1.6. UNITS
1.7. CURRENCY
1.8. STAKEHOLDERS
2. RESEARCH METHODOLOGY
2.1. RESEARCH DATA
2.1.1. SECONDARY DATA
2.1.1.1. Key data from secondary sources
2.1.2. PRIMARY DATA
2.1.2.1. Key data from primary sources
2.1.2.2. Key industry insights
2.1.2.3. Breakdown of primary interviews
2.2. MARKET SIZE ESTIMATION
2.2.1. BOTTOM-UP APPROACH
2.2.2. TOP-DOWN APPROACH
2.3. DATA TRIANGULATION
2.3.1. HYBRID INVERTER MARKET ANALYSIS THROUGH PRIMARY INTERVIEWS
2.4. RESEARCH ASSUMPTIONS
2.5. LIMITATIONS
2.6. RISK ASSESSMENT
3. EXECUTIVE SUMMARY
4. PREMIUM INSIGHTS
4.1. ATTRACTIVE OPPORTUNITIES IN GLOBAL HYBRID INVERTER MARKET
4.2. HYBRID INVERTER MARKET, BY REGION
4.3. ASIA PACIFIC: HYBRID INVERTER MARKET, BY END-USER AND COUNTRY, 2021
4.4. HYBRID INVERTER MARKET, BY PRODUCT TYPE
4.5. HYBRID INVERTER MARKET, BY POWER RATING
4.6. HYBRID INVERTER MARKET, BY OUTPUT VOLTAGE
4.7. HYBRID INVERTER MARKET, BY SALES CHANNEL
4.8. HYBRID INVERTER MARKET, BY END-USER
5. MARKET OVERVIEW
5.1. INTRODUCTION
5.1.1. MARKET DYNAMICS
5.1.2. DRIVERS
5.1.3. RESTRAINTS
5.1.4. OPPORTUNITIES
5.1.5. CHALLENGES
5.2. TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.3. PRICING ANALYSIS
5.3.1. AVERAGE SELLING PRICE OF HYBRID INVERTERS OFFERED BY KEY PLAYERS
5.3.2. AVERAGE SELLING PRICE TREND, BY POWER RATING
5.4. VALUE/SUPPLY CHAIN ANALYSIS
5.5. TECHNOLOGY ANALYSIS
5.6. KEY CONFERENCES & EVENTS IN 2022-2023
5.7. MARKET MAP
5.8. PATENT ANALYSIS
5.9. TRADE ANALYSIS
5.10. CASE STUDY ANALYSIS
5.11. TARIFFS, CODES & REGULATIONS
5.11.1. REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.12. PORTER’S FIVE FORCE ANALYSIS
5.13. KEY STAKEHOLDERS & BUYING CRITERIA
5.13.1. KEY STAKEHOLDERS IN THE BUYING PROCESS
5.13.2. BUYING CRITERIA
6. HYBRID INVERTER MARKET, BY PRODUCT TYPE
(Value (USD Million) -2020, 2021 2022-e, 2027-f)
6.1. INTRODUCTION
6.2. SINGLE-PHASE HYBRID INVERTER
6.3. THREE-PHASE HYBRID INVERTER
7. HYBRID INVERTER MARKET, BY POWER RATING
(Value (USD Million) -2020, 2021 2022-e, 2027-f)
7.1. INTRODUCTION
7.2. UP TO 10 KW
7.3. 11–50 KW
7.4. 51–100 KW
7.5. ABOVE 100 KW
8. HYBRID INVERTER MARKET, BY OUTPUT VOLTAGE
(Value (USD Million) -2020, 2021 2022-e, 2027-f)
8.1. INTRODUCTION
8.2. 100–300 V
8.3. 301–500 V
8.4. ABOVE 500 V
9. HYBRID INVERTER MARKET, BY SALES CHANNEL
(Value (USD Million) -2020, 2021 2022-e, 2027-f)
9.1. INTRODUCTION
9.2. DIRECT
9.3. INDIRECT
10. HYBRID INVERTER MARKET, BY END-USER
(Value (USD Million) -2020, 2021 2022-e, 2027-f)
10.1. INTRODUCTION
10.2. RESIDENTIAL
10.3. COMMERICAL
10.4. INDUSTRIAL
11. HYBRID INVERTER MARKET, BY REGION
(Value (USD Million), Volume (Units) - 2020, 2021, 2022-e, 2027-f)
11.1. INTRODUCTION
11.2. ASIA PACIFIC
11.2.1. BY PRODUCT TYPE
11.2.2. BY POWER RATING
11.2.3. BY OUTPUT VOLTAGE
11.2.4. BY SALES CHANNEL
11.2.5. BY END-USER
11.2.6. BY COUNTRY
11.2.6.1. China
11.2.6.1.1. By end-user
11.2.6.2. India
11.2.6.3. Australia
11.2.6.4. Japan
11.2.6.5. Rest of Asia Pacific
11.3. NORTH AMERICA
11.3.1. BY PRODUCT TYPE
11.3.2. BY POWER RATING
11.3.3. BY OUTPUT VOLTAGE
11.3.4. BY SALES CHANNEL
11.3.5. BY END-USER
11.3.6. BY COUNTRY
11.3.6.1. US
11.3.6.1.1. By end-user
11.3.6.2. Canada
11.3.6.3. Mexico
11.4. EUROPE
11.4.1. BY PRODUCT TYPE
11.4.2. BY POWER RATING
11.4.3. BY OUTPUT VOLTAGE
11.4.4. BY SALES CHANNEL
11.4.5. BY END-USER
11.4.6. BY COUNTRY
11.4.6.1. UK
11.4.6.1.1. By end-user
11.4.6.2. Germany
11.4.6.3. Italy
11.4.6.4. France
11.4.6.5. Spain
11.4.6.6. Rest of Europe
11.5. SOUTH AMERICA
11.5.1. BY PRODUCT TYPE
11.5.2. BY POWER RATING
11.5.3. BY OUTPUT VOLTAGE
11.5.4. BY SALES CHANNEL
11.5.5. BY END-USER
11.5.6. BY COUNTRY
11.5.6.1. Brazil
11.5.6.1.1. By end-user
11.5.6.2. Argentina
11.5.6.3. Rest of South America
11.6. MIDDLE EAST & AFRICA
11.6.1. BY PRODUCT TYPE
11.6.2. BY POWER RATING
11.6.3. BY OUTPUT VOLTAGE
11.6.4. BY SALES CHANNEL
11.6.5. BY END-USER
11.6.6. BY COUNTRY
11.6.6.1. Saudi Arabia
11.6.6.1.1. By end-user
11.6.6.2. UAE
11.6.6.3. South Africa
11.6.6.4. Rest of Middle East & Africa
12. COMPETITIVE LANDSCAPE
12.1. KEY PLAYER STRATEGIES
12.2. COMPETITIVE SCENARIOS AND TRENDS
12.3. RECENT MARKET DEVELOPMENTS
12.4. MARKET SHARE (BY REVENUE), 2021
12.5. REVENUE ANALYSIS OF TOP 5 PLAYERS, 2021
12.6. COMPANY EVALUATION QUADRANT
12.6.1. STAR
12.6.2. PERVASIVE
12.6.3. EMERGING LEADER
12.6.4. PARTICIPANT
12.7. START-UP/SME EVALUATION QUADRANT
12.7.1. DYNAMIC COMPANY
12.7.2. RESPONSIVE COMPANY
12.7.3. PROGRESSIVE COMPANY
12.7.4. STARTING BLOCK
12.7.5. COMPETITIVE BENCHMARKING
12.8. HYBRID INVERTER MARKET: COMPANY FOOTPRINT
13. COMPANY PROFILES
13.1. SCHNEIDER ELECTRIC
13.1.1. Business Overview
13.1.2. Products Offered
13.1.3. Recent Developments
13.1.4. MnM view
13.1.4.1. Key strategies/right to win
13.1.4.2. Strategic choices made
13.1.4.3. Weaknesses and competitive threats
13.2. HAVELLS
13.3. FRONIUS
13.4. PHOCOS
13.5. ABB
13.6. SMA SOLAR TECHNOLOGY AG
13.7. HUAWEI TECHNOLOGIES
13.8. SOLAREDGE
13.9. LUMINOUS
13.10. FLIN ENERGY
13.11. MICROTEK INVERTERS
13.12. KACO NEW ENERGY
13.13. DELTA ENERGY SYSTEMS
13.14. EAST GROUP
13.15. PURE VOLT
13.16. SU-KAM POWER SYSTEMS
13.17. SOLAX POWER
13.18. VOLTRONIC POWER TECHNOLOGY
13.19. TABUCHI ELECTRIC CO., LTD.
13.20. REDBACK TECHNOLOGIES
13.21. STATCON ENERGIAA PVT. LTD.
14. APPENDIX
14.1. INSIGHTS OF INDUSTRY EXPERTS
14.2. DISCUSSION GUIDE
14.3. KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.4. CUSTOMIZATION OPTIONS
14.5. RELATED REPORTS
14.6. AUTHOR DETAILS
Note: e-Estimated, f-Forecast
• THIS IS A TENTATIVE LIST OF COMPANIES. ADDITIONAL COUNTRIES & COMPANIES MAY BE ADDED/UPDATED DURING THE COURSE OF THE STUDY
• DETAILS ON COMPANY OVERVIEW, FINANCIALS, PRODUCT & SERVICES, STRATEGY, AND DEVELOPMENTS MIGHT NOT BE CAPTURED IN CASE OF UNLISTED COMPANIES
Growth opportunities and latent adjacency in Global Hybrid Inverter Market