Global Solar Pump Inverter Market Outlook 2018-2023

Global Solar Pump Inverter Market is anticipated to grow significantly in the forecast period due to increasing consumer awareness. Solar pump inverter is a device used for lifting water for agricultural irrigation, livestock, and domestic purposes. Besides, the device is also used in forestry watering, grassland animal husbandry, water treatment projects, island water supply, desert control, etc. Solar pump inverter converts DC power into AC from solar panels for controlling the pump. It eliminates the use of generators or electrical supplies for pumping.

The drivers of solar pump inverter market include increasing participation of commercial and residential segments for the use of solar technology, favorable solar projects and supporting government regulations, growing involvement of private sector. Moreover, growing utility sector due to increase in solar projects that deploy solar inverters is also fueling the market growth. Increasing government initiatives for the development of solar parks, solar energy subsidy schemes for both residential and commercial segments, and smart city projects are expected to offer growth opportunities to the market.

Solar pump inverter market is categorized based on type, product purpose, application, and geography. Based on type, market is divided into grid-tie inverters, standalone inverters, and battery backup inverters. Grid-tie inverters segment is predicted to hold maximum share of the market due to high adoption in various industry verticals.

On the basis of product purpose, solar pump inverter market is divided into multi-purpose and single purpose. Single purpose segment leads the market due to high demand on the global scale. In terms of application, market is divided into domestic use and commercial use. Commercial application segment is expected to hold larger share of the market in the forecast period.

Geographically, solar pump inverter market is divided into North America, South America, Europe, Asia Pacific, and Middle East & Africa. Europe and Middle East & Africa are expected to lead the market due to decreasing price trend of solar pump inverters in these regions which increases the demand. Furthermore, North America also contributes significantly to the market. The key players in solar pump inverter market include Hitachi, Schneider Electric, Sollatek, ABB, Voltacon, B&B Power, Solar Tech, Voltronic Power, GRUNDFOS, MNE, Gozuk, and Hober.

Global Market for solar pump inverter to 2023 offers detailed coverage of solar pump inverter industry and presents main market trends. The market research gives historical and forecast market size, demand and production forecasts, end-use demand details, price trends, and company shares of the leading solar pump inverter producers to provide exhaustive coverage of the solar pump inverter.

Report contents include
- Analysis of the solar pump inverter market including revenues, future growth, market outlook
- Historical data and forecast
- Regional analysis including growth estimates
- Analyzes the end user markets including growth estimates.
- Profiles on solar pump inverter including products, sales/revenues, and market position
- Market structure, market drivers and restraints.

Key regions
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America

Key Vendors
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