Inverter Market Worth $39.6 billion by 2028 - Exclusive Report by MarketsandM... - 0 views
-
Almira Coyne on 08 Feb 24Inverter Market is expected to reach USD 39.6 billion by 2028 from USD 18.9 billion in 2023 at a CAGR of 16.0% during the 2023-2028 period according to a new report by MarketsandMarkets™. The simplicity of installation for both string and micro inverters is the main factor propelling the global market's expansion. The industry has grown as a result of increased investment in the development of renewable power infrastructure and the rise in demand for electricity from diverse uses. It is projected that the renewable energy and rural electrification sectors would see a sharp increase in investment, which will present profitable prospects for industry participants. The business is growing globally as a result of the increased use of big-sized string inverters in the utility system and other commercial and industrial sectors. These inverters make it easier to install huge solar systems since they can link many solar panels.