Dublin, Jan. 24, 2019 (GLOBE NEWSWIRE) -- The "Philippines Solar Inverter Market (2018-2024): Market Forecast by Power Ratings, by Types, by Verticals, by Regions, and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Philippines Solar Inverter Market is projected to grow at a CAGR of 2.4% during 2018-24.
Philippines government plans to attain 100% electrification rate by 2022. In order to cater to the country's current power needs, the expansion of the solar energy base in the Philippines is a viable option owing to the falling cost of solar equipment and the short gestation period of solar rooftop projects. Additionally, the country is placed well geographically for the deployment of solar energy.
The market by vertical is dominated by the utility sector, owing to a large number of inverter installations in this segment. Further, with a large number of the upcoming projects approved by the Philippines government in the utility sector, the segment is expected to continue its dominance in the country over the forecast period.
Due to a lower per watt price, greater efficiency and high utilization in the utility and large-scale commercial segments, central solar inverters dominated the overall solar inverter market in the Philippines in 2017. Micro inverters, on the other hand, occupied small revenue share owing to higher per watt price and their inability to be used efficiently in high power generation capacity applications in power plants.
Key Highlights of the Report:
- Historical Data of Philippines Solar Inverter Market Revenues and Volume for the Period 2014-2024F.
- Market Size & Forecast of Philippines Solar Inverter Market for the Period 2014-2024F.
- Historical Data of Philippines Solar Inverter Market Revenues and Volume by power rating for the Period 2014-2024F.
- Market Size & Forecast of Philippines Solar Inverter Market Revenues and Volume by power rating for the Period 2014-2024F.
- Historical Data of Philippines Solar Inverter Market Revenues by types for the Period 2014-2024F.
- Market Size & Forecast of Philippines Solar Inverter Market Revenues by types for the Period 2014-2024F.
- Historical Data of Philippines Solar Inverter Market Revenues by verticals for the Period 2014-2024F.
- Market Size & Forecast of Philippines Solar Inverter Market Revenues by verticals for the Period 2014-2024F.
- Historical Data of Philippines Solar Inverter Market Revenues by regions for the Period 2014-2024F
- Market Size & Forecast of Philippines Solar Inverter Market Revenues by regions for the Period 2014-2024F
- Market Drivers and Restraints
- Market Trends and Developments.
- Players Market Share
- Company Profiles
- Strategic Recommendations
Companies Mentioned
- ABB INC (Philippines)
- Huawei Technologies Co., Ltd. (Global)
- Jiangsu Goodwe Power Supply Technology Ltd.
- Schneider Electric (Philippines) Inc
- Shenzhen Growatt New Energy Technology Co., Ltd
- SMA Solar Technology AG(Global)
- SolaX Power Co., Ltd.
- Sungrow Power Supply Co., Ltd. (Global)
- Voltronic Power Technology Corporation
- Zhejiang Bou New Energy Technology Co., Ltd
For more information about this report visit https://www.researchandmarkets.com/research/9xpdl5/philippines_solar?w=12
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