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Rising Demand for Polycrystalline Solar Panels to Promote Expansion of Global Solar Hybrid Inverter Market

Press Release   •   Jun 07, 2017 06:51 EDT

MarketResearchReports.biz has recently added a report titled, “Global Solar Hybrid Inverter Market 2017-2021” to its depository. The report provides a brief introduction to the market for solar hybrid inverters, followed by an analysis of the crucial aspects stimulating the expansion of the market. The major challenges, catalysts, trends, and developments in the global solar hybrid inverters have been talked about, apart from an in-depth assessment of the leading segments of the market.

In order to address the problems associated with power shortages and power cut-offs, a number of governments across the developed and developing nations have been encouraging the adoption of solar energy. For example, the U.S. government has been implementing the Solar Investment Tax Credit (ICT) policy for supporting the installation of solar panels across the nation. Being an ideal energy generation solution, solar energy has been gaining considerable popularity. The environmental benefits, productivity, and cost-efficiency of this energy solution have been alluring an increasing number of consumers over the globe.

On the contrary, the technical issues related to solar photo-voltaic (PV) components can emerge as the key restraints of the global solar hybrid inverter market. However, the impact of these inhibitors can be negated by the rapidly augmenting demand for polycrystalline solar panels. The relatively lower costs of polycrystalline technology when compared with monocrystalline solar technology is a key factor responsible for the growing preference for this product.

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By end user, the global solar hybrid inverter market can be segmented into residential and commercial segments. The commercial segment held the largest portion of shares in the global solar hybrid inverter market in 2016. The utilization of energy management systems as well as inverters with solar PV panels has been contributing to the growth of this market segment. The residential sector is slated for decent growth as well, driven by the additional financial aid offered by the government.

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By geography, the global solar hybrid inverter market has been segmented into Asia Pacific (APAC), the Americas, and Europe, the Middle East, and Africa (EMEA). Asia Pacific emerged as the dominant regional segment in 2016 in the global solar hybrid inverter market. The growing environmental awareness, introduction of environment-friendly policies, improved standard of living, expanding disposable incomes, and presence of a massive population are some prominent factors boosting the adoption of solar hybrid inverters in the region. The Americas are expected to represent a significant chunk of the global solar hybrid inverter market by the end of 2021. s

Microtek Inverters, Flin Energy, Su-Kam Power Systems, Luminous India, Schneider Electric, TABUCHI ELECTRIC, Lavancha Renewable Energy, EAST Group, SOLAX POWER, Growatt New Energy Technology, KACO new energy, Redback Technologies, Voltronic Power Technology, and Pure Volt are some leading vendors operating in the global solar hybrid inverter market.

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