世界のソーラーPVインバーター業界、2024-2035年

ソーラーPVへの投資額が過去最高水準に達し、ソーラーインバーターの収益を牽引

ソーラーPVは2024年に全発電投資額の45%を占め、今後10年間はこの水準を維持すると予測されています。インバーターはPVシステム内の主要コンポーネントのひとつであり、エンドユーザーセグメントによって、システム総額の5%から15%を占めます。この調査では、ソーラーPVインバーターの世界市場の可能性と成長機会を評価します。インバーターは、主に大規模なユーティリティ設備で使用されるセントラルインバーター、商業施設や住宅などの中規模設備で使用され、最近ではユーティリティプロジェクトでも使用されるようになっているストリングインバーター、そして主に住宅で使用され、商業部門でも一部使用されているマイクロインバーターの3つの大まかなカテゴリーに分類されます。インバーターの収益予測はソーラーPV産業の予測と一致しています。Frost & Sullivanでは、システムが稼動を開始した年に収益を計上しており、PVインバーターについても同様です。

セグメント別の収益予測

基準年の収益推定は約300億米ドルで、2023年～2035年の調査期間のCAGRは約10%です。

目次

調査範囲

• 分析範囲
• 地域セグメンテーション
• エンドユーザーセグメンテーション
• 製品セグメンテーション

戦略的インペラティブ

• なぜ成長が難しくなっているのか？
• The Strategic Imperative 8（TM）
• ソーラーPV用インバーター業界に対する戦略的インペラティブトップ3の影響
• Growth Pipeline Engine（TM）を促進する成長機会

成長機会分析

• 主な調査結果
• PVインバーター比較分析
• PVインバーター購入パラメーター
• インバーターの信頼性に影響を与えるものは何か？
• IGBT故障のタイプ
• コンデンサー故障のタイプ
• 主な戦略動向
• PVインバーター向け窒化ガリウム半導体の成長
• インバーターのインテリジェンスを高めるデジタルソリューションの利用拡大
• デジタルO&Mによるアーク故障の最小化と継続性の確保
• BESSの成長で注目を集めるハイブリッドインバーターソリューション
• 成長促進要因
• 成長抑制要因
• 予測の前提条件
• 価格動向
• 地域別の収益予測
• セグメント別の収益予測
• 製品タイプ別の収益予測
• 地域別の収益予測 - ストリングインバーター
• 地域別の収益予測 - セントラルインバーター
• 地域別の収益予測 - マイクロインバーター

ソーラーPVインバーター市場シェア、2024年

地域別分析

• 北米：製品別の収益予測
• 中国：製品別の収益予測
• 西欧：製品別の収益予測
• 中東欧：製品別の収益予測
• 東アジア：製品別の収益予測
• インド・南アジア：製品別の収益予測
• ASEAN：製品別の収益予測
• ANZ・太平洋：製品別の収益予測
• ラテンアメリカ：製品別の収益予測
• 中東・北アフリカ：製品別の収益予測
• サブサハラアフリカ：製品別の収益予測
• ロシア・CIS：製品別の収益予測

成長機会ユニバース

• 成長機会1：炭化ケイ素/窒化ガリウムコンバーター
• 成長機会2：PID制御インバーター
• 成長機会3：GFMインバーター

付録と次のステップ

• 成長機会のメリットと影響
• 次のステップ
• 添付リスト
• 免責事項

Record Investment Levels in Solar PV Drives Solar Inverter Revenues

Solar PV accounted for 45% of all power generation investment in 2024, and it is forecast to maintain this throughout the next decade. Inverters are one of the key components within a PV system, accounting for anywhere from 5% to 15% of the total system value, depending on the end customer segment. This study assesses the global market potential and growth opportunities for solar PV inverters. It includes three broad categories of inverters - central inverters, used mostly in large-scale utility installations; string inverters, used in medium-sized installations, such as commercial and residential establishments, and increasingly utility projects; and micro inverters that are mostly used in residential setups with some installations in the commercial sector. The revenue forecast for inverters is aligned to the solar PV industry. Frost & Sullivan accounts for revenues in the year the system comes online and the same applies for PV inverters.

Revenue Forecast by Segment

The base year revenue estimate is approximately $30 billion, with a CAGR of around 10% for the study period from 2023 to 2035.

Scope of Analysis

Solar PV accounted for 45% of all power generation investment in 2024, and it is forecast to maintain this throughout the next decade. Inverters are one of the key components within a PV system, accounting for anywhere from 5% to 15% of the total system value, depending on the end customer segment.

This study assesses the global market potential and growth opportunities for solar PV inverters. It includes three broad categories of inverters - central inverters, used mostly in large-scale installations and large commercial buildings; string inverters, used in medium-sized installations, such as commercial and residential establishments; and micro inverters that are mostly used in residential setups with some installations in the commercial sector.

The revenue forecast for inverters is aligned to the solar PV industry. Frost & Sullivan accounts for revenues in the year the system comes online and the same applies for PV inverters.

Short, medium, and long terms refer to 1 to 2 years (2025-2026), 3 to 4 years (2027-2028), and 5 to 11 years (2029-2035), respectively.

Scope

Element

Description

Industry Analysis

Comprehensive assessment of solar PV inverter market trends.

Competitive Landscape

Evaluation of key players and market positioning strategies.

Market Opportunities

Identification of growth segments and investment areas.

Technology Trends

Exploration of innovations influencing the industry.

The Impact of the Top 3 Strategic Imperatives on the Solar PV Inverter Industry

Competitive Intensity

• Why: The level of competition in the solar PV inverter industry is high. Chinese inverter producers have invested significant sums in new production facilities, and the result has been that average costs have declined in recent years.
• Frost Perspective: For project developers, the declining PV inverter costs, coupled with far more significant cost reductions for modules is enabling them to bring down project costs, thus making solar PV more competitive. For inverter manufacturers to stand out, they need to try and differentiate their products by offering advanced features.

Geopolitical Chaos

• Why: Major conflicts have made energy security a major concern. Increasing economic competition is resulting in a higher use of tariffs, principally by the United States. Tariffs act to distort industries by making imported goods more expensive and domestically produced goods more competitive.
• Frost Perspective: Tariffs (and incentives) are increasing investment in markets outside of China, particularly in the United States as components need to be locally produced. Major inverter manufacturers are seeking to diversify where they produce, which can be challenging as they are also under pressure to be cost competitive.

Innovative Business Models

• Why: As the intelligence of the grid increases, those assets on the grid gain more importance. There has been strong growth in residential solar PV in the past two years, and more commercial & industrial businesses will install PV as the costs continue to decline.
• Frost Perspective: The electricity produced from Solar PV projects is an asset. When combined with other DERs such as BESS and EV Chargers it can generate additional revenues for the asset owners - or it can mitigate potential demand charges or high electricity bills. Inverters are a key component in enabling this greater intelligence.

Growth Restraints

Whilst there are significant incentives and support mechanisms for solar PV in many geographies, as substantial number still lack effective policy support to ensure that market can reach its full potential.

While there are several programs offering rebates on solar panels, there aren't many incentives for inverters, increasing the upfront costs for non-bankable/small-scale and residential projects.

Delays in planning permission and grid connections can delay the progression of solar PV projects, resulting in lower inverter sales.

Growth Drivers

The increasing cost competitiveness of solar PV based generation is driving a huge pipeline of projects.

National renewable targets drive demand for solar PV and inverters.

While there are unique applications for DC power, the reliability, efficiency in power transmission, flexibility, and cost advantages have made AC power the most widely used, thereby making inverters a critical component of the solar PV system.

Renewables are characterized by variability in generation. Inverters improve power quality of grid connected PV systems.

Hybrid inverters act as reliable power back up during grid failure/blackouts, ensuring smooth business operations.

Table of Contents

Research Scope

• Scope of Analysis
• Regional Segmentation
• End User Segmentation
• Product Segmentation

Strategic Imperatives

• Why is it Increasingly Difficult to Grow?
• The Strategic Imperative 8™
• The Impact of the Top 3 Strategic Imperatives on the Solar PV Inverter Industry
• Growth Opportunities Fuel the Growth Pipeline Engine™

Growth Opportunity Analysis

• Key Findings
• PV Inverters Comparative Analysis
• PV Inverter Purchase Parameters
• What Impacts Inverter Reliability?
• Types of IGBT Failure
• Types of Capacitor Failure
• Key Strategy Trends
• Growth of Galium Nitride Semiconductors for PV Inverters
• Greater Use of Digital Solutions to Increase the Intelligence of Inverters
• Digital O&M to Minimize Arc Faults and Ensure Continuity
• Hybrid Inverter Solutions Gaining Prominence as BESS Grows
• Growth Drivers
• Growth Restraints
• Forecast Assumptions
• Pricing Trends
• Revenue Forecast by Region
• Revenue Forecast by Segment
• Revenue Forecast by Product Type
• Revenue Forecast by Region-String Inverters
• Revenue Forecast by Region-Central Inverters
• Revenue Forecast by Region-Micro Inverters

Market Share, Solar PV Inverters, 2024

Regional Analysis

• North America Revenue Forecast by Product
• China Revenue Forecast by Product
• Western Europe Revenue Forecast by Product
• Central and Eastern Europe Revenue Forecast by Product
• East Asia Revenue Forecast by Product
• India & South Asia Revenue Forecast by Product
• ASEAN Revenue Forecast by Product
• ANZ & Pacific Revenue Forecast by Product
• Latin America Revenue Forecast by Product
• Middle East and North Africa Revenue Forecast by Product
• Sub-Saharan Africa Revenue Forecast by Product
• Russia & CIS Revenue Forecast by Product

Growth Opportunity Universe

• Growth Opportunity 1: Silicon Carbide/Gallium Nitride Converters
• Growth Opportunity 2: Inverter with PID Control
• Growth Opportunity 3: Grid Forming Inverters

Appendix & Next Steps

• Benefits and Impacts of Growth Opportunities
• Next Steps
• List of Exhibits
• Legal Disclaimer