Solar Inverters Industry in South America 2022

Market Overview

A solar inverter is an essential device in the solar system, which converts direct current (DC) power flowing from solar panels to alternating current (AC) power. Apart from the conversion, solar inverters track voltage, allow grid connecting communication and shut down during emergency conditions. Solar inverters are commonly used in residential and utility applications and are increasingly used in commercial and industrial projects. Further, solar photovoltaic (PV) inverters are available with distinct characteristics and features and consider different factors affecting solar system production. Critical factors include roof orientation, shading, roof inclination, tilting panels, and summer & winter production difference that result in the required output.

The SAM Solar Inverters Market was valued at US$ 509 million in 2021 and is expected to reach US$ 766 million by 2028; it is estimated to register a CAGR of 6.3% during the forecast period.

Factors such as a rising number of solar installations attributed to government-led incentives and schemes and growing residential solar rooftop installations influence the SAM Solar Inverters Market growth. Further, the increasing investments in the renewable energy sector and technological innovations in solar inverters are among the factors contributing to the market growth. However, the safety risks associated with high DC voltages in solar inverters are restraining the market growth.

Research Coverage

The SAM Solar Inverters Market is segmented into type, system type, end user, and geography. Based on type, the market is segmented into central, string, and micro. The central segment led the SAM Solar Inverters Market with the largest market share in 2021. Based on system type, the market is bifurcated into on-grid and off-grid. The on-grid segment led the SAM Solar Inverters Market with a larger market share in 2021. Based on end user, the market is segmented into residential, commercial, and utility. The commercial segment led the solar inverters market, with the largest market share in 2021. By country, the SAM Solar Inverters Market is segmented into Brazil, Argentina, Rest of SAM. The Brazil segment led the SAM Solar Inverters Market with the largest market share in 2021.

Competitive Landscape

The key companies operating in the SAM Solar Inverters Market include Fimer Group; Delta Electronics, Inc.; Enertech Group; GoodWe; Hitachi Hi-Rel Power Electronics Private Limited; Sineng Electric; SMA Solar Technology AG; and SolarEdge Technologies, Inc. Several companies in the market are contributing substantial revenues toward the growth of the SAM Solar Inverters market.

Major developments have been observed in the global solar inverters market. For instance, in November 2019, SMA Solar Technology AG had collaborated with South Korea-based LG Chem. The SUNNY BOY STORAGE battery inverters of SMA and RESU 10M batteries of LG Chem combined to form new home storage systems. Integrating SMA battery inverters with the RESU 10M batteries results in the development of integrated DC/DC converters, which can help in increase the operating voltage of batteries. Further, in July 2019, ABB and the Italian company FIMER S.p.A signed an agreement for FIMER to acquire ABB’s solar inverter business. The transaction enhanced the future prospects of the solar inverter business and enabled ABB to focus its business portfolio on other growth markets.

Table of Contents

1. Introduction
2. Key Takeaways
3. Research Methodology
4. South America Solar Inverters Market Landscape
5. South America Solar Inverters Market – Key Market Dynamics
6. South America Solar Inverters – Market Analysis
7. South America Solar Inverters Market Analysis – By Type
8. South America Solar Inverters Market Analysis – By System Type
9. South America Solar Inverters Market Analysis – By End User
10. South America Solar Inverters Market – Country Analysis
11. Industry Landscape
12. Company Profiles
13. Appendix

Companies Mentioned

ABB Ltd.
Delta Electronics, Inc.
Enertechups
GOODWE
GoodWe Technologies Co., Ltd.
Hitachi, Ltd.
Power Electronics S.L.
Power-One Micro Systems Pvt. Ltd.
Sineng Electric Co., Ltd.
SMA Solar Technology AG
Solaredge Technologies Inc.