North America PV Inverter Market share will grow on account of high operational applicability of these units across commercial and residential applications. Ongoing government measures to minimize GHG emission along with large scale deployment of solar PV farms will foster the industry landscape. Moreover, integration of renewable generation sources across the power grid infrastructure to cater to surging power demand will enhance the business scenario.

Single phase PV inverter market size is anticipated to grow on account of increasing clean energy demand across the low and high voltage residential sector. Positive government initiatives including net metering, feed-in-tariff and funding schemes to supply electricity across the isolated grid network will further drive the industry outlook. Furthermore, ongoing technological enhancement coupled with increasing R&D investments by prominent industry players to enhance the PV inverter capacity will accelerate the product demand.

3,000 W - 33,000 W photovoltaic inverter units will witness growth owing to increasing electricity demand across commercial and industrial establishment. As per Bloomberg, in 2019 annual investment across the U.S. towards the clean energy industry accounted for over USD 78 billion. Increasing public and private investments across the sustainable power generation along with consumer shift toward the adoption of green energy as a primary power source will further propel the business scenario.

≤ 230 V PV inverter units will witness an upsurge on account of growing disposition of power generation technologies coupled with increasing demand across residential facilities. For instance, Panasonic launched a residential energy storage system EverVolt in 2019, featuring an efficient design along with a user-friendly app offering an easy customization. Moreover, rising demand for two-way communication technology followed by adoption of electricity monitoring equipment will positively influence the product demand across residential sector.

The effects of COVID-19 have resulted in delay of commissioned projects in 2020. However, government is focusing on promoting renewable energy generation which would in-turn foster the prospect of PV inverter industry. Furthermore, rising consumers preference toward renewable energy sources which lead to limited carbon emissions will further complement the product adoption.

Key manufacturers are forming strategic alliances and joint ventures in the North America market to maintain their presence in the industry. Eminent North America market players are General Electric, Siemens AG, Panasonic, Huawei, Enphase Energy, Emerson Electric, Schneider Electric, and SMA Solar Technology amongst others.