Brazil Pv Inverter Market Size & Outlook, 2023-2030
Brazil pv inverter market, 2018-2030 (US$M)
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Brazil pv inverter market highlights
- The Brazil pv inverter market generated a revenue of USD 236.3 million in 2023 and is expected to reach USD 695.5 million by 2030.
- The Brazil market is expected to grow at a CAGR of 16.7% from 2024 to 2030.
- In terms of segment, string pv inverter was the largest revenue generating product in 2023.
- Micro 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 236.3 million |
| Market revenue in 2030 | USD 695.5 million |
| Growth rate | 16.7% (CAGR from 2023 to 2030) |
| Largest segment | String pv inverter |
| Fastest growing segment | Micro 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, Brazil accounted for 1.8% 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 Latin America, Brazil pv inverter market is projected to lead the regional market in terms of revenue in 2030.
- Argentina is the fastest growing regional market in Latin America and is projected to reach USD 419.9 million by 2030.
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PV Inverter Market Scope
PV Inverter Market Companies
| Name | Profile | # Employees | HQ | Website |
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Brazil 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 45.32% in 2023. Horizon Databook has segmented the Brazil 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 most important drivers for solar PV panels and PV inverters are abundant solar resources, increased demand for electricity, increased pressure on the Brazilian government to protect the environment, and sharp drops in PV technology prices.
In February 2023, the government of Brazil became a member of the International Solar Alliance. The International Solar Alliance is a collaborative effort to grow solar PV deployment in member countries.
As per the Brazilian Ministry of Mines and Energy (MME), the installed solar power capacity reached 16.4 GW and became the third-largest source in the energy matrix of Brazil. The huge demand for the installation of new solar energy capacities is expected to drive the market in the country in the coming years.
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Horizon Databook provides a detailed overview of country-level data and insights on the Brazil pv inverter market , including forecasts for subscribers. This country databook contains high-level insights into Brazil pv inverter market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Brazil pv inverters market size, by product, 2018-2030 (US$M)
Brazil PV Inverter Market Outlook Share, 2023 & 2030 (US$M)
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