Asia Pacific Pv Inverter Market Size & Outlook, 2023-2030
Asia Pacific pv inverter market, 2018-2030 (US$M)
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Asia Pacific pv inverter market highlights
- The Asia Pacific pv inverter market generated a revenue of USD 5,770.7 million in 2023.
- The market is expected to grow at a CAGR of 19.4% from 2024 to 2030.
- In terms of segment, central pv inverter was the largest revenue generating product in 2023.
- Central PV inverter is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Thailand is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 5,770.7 million |
| Market revenue in 2030 | USD 19,955.1 million |
| Growth rate | 19.4% (CAGR from 2023 to 2030) |
| Largest segment | Central pv inverter |
| Fastest growing segment | Central PV inverter |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | String PV inverter, Central PV inverter, Micro PV inverter, Other |
| Key market players worldwide | Delta Electronics Inc DR, Eaton Corp PLC, Emerson Electric Co, Hitachi Ltd, OMRON Corp, Siemens Energy AG ADR, SunPower Corp, SMA Solar Technology AG, Power Electronics, Fimer |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 44.1% of the global pv inverter market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 11,304.8 million by 2030.
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PV Inverter Market Scope
PV Inverter Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific pv inverter market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to pv inverter market will help companies and investors design strategic landscapes.
Central pv inverter was the largest segment with a revenue share of 46.74% in 2023. Horizon Databook has segmented the Asia Pacific pv inverter market based on string pv inverter, central pv inverter, micro pv inverter, other covering the revenue growth of each sub-segment from 2018 to 2030.
The increasing demand for PV inverter in Asia Pacific can be attributed to the increasing installation of solar power projects in China, Japan, and India. These countries are the key markets for PV inverter both globally and in Asia Pacific The governing bodies of countries such as India and China are pledged towards a growing share of the renewable energy in energy mix to reduce the emission levels.
Besides, the government in some of the Asia Pacific countries are also supporting power generation from renewable energy sources through various policies and research and development initiatives. These factors will lead to the growth of the market for PV inverter in Asia Pacific region in the future.
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Our clientele includes a mix of pv inverter market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific pv inverter market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific pv inverter market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific pv inverters market size, by country, 2018-2030 (US$M)
Asia Pacific PV Inverter Market Outlook Share, 2023 & 2030 (US$M)
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