Australia Pv Inverter Market Size & Outlook, 2023-2030
Australia pv inverter market, 2018-2030 (US$M)
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Australia pv inverter market highlights
- The Australia pv inverter market generated a revenue of USD 244.7 million in 2023 and is expected to reach USD 754.3 million by 2030.
- The Australia market is expected to grow at a CAGR of 17.4% from 2024 to 2030.
- In terms of segment, string 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.
Pv inverter market data book summary
| Market revenue in 2023 | USD 244.7 million |
| Market revenue in 2030 | USD 754.3 million |
| Growth rate | 17.4% (CAGR from 2023 to 2030) |
| Largest segment | String pv inverter |
| Fastest growing segment | Central PV inverter |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Australia accounted for 1.9% of the global pv inverter market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China pv inverter market is projected to lead the regional market in terms of revenue in 2030.
- Thailand is the fastest growing regional market in Asia Pacific and is projected to reach USD 63.9 million by 2030.
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PV Inverter Market Scope
PV Inverter Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia 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.
String pv inverter was the largest segment with a revenue share of 53.98% in 2023. Horizon Databook has segmented the Australia 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.
Australia PV inverter market is expected to grow significantly owing to the increasing utilization of solar PV panels for electricity generation. As per Australian PV Institute, as of December 2022, over 3.36 billion solar PV panels were installed with a combined capacity of 29.7 gigawatts.
In 2021, 29% of electricity was generated by solar PV panels in the country. Wind and solar are the primary sources of renewable energy generation in Australia. In 2020, the government of New South Wales streamlined the process of installing solar PV panel systems in strata buildings through the new amendments made in the Parliament.
The country has the highest uptake of solar energy worldwide, with nearly 30% of homes having rooftop solar PV, which is expected to expand the demand for PV inverters. Solar PV systems are a major long-term investment, hence the market and technology are rapidly growing.
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia pv inverter market , including forecasts for subscribers. This country databook contains high-level insights into Australia pv inverter market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia pv inverters market size, by product, 2018-2030 (US$M)
Australia PV Inverter Market Outlook Share, 2023 & 2030 (US$M)
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