China Pv Inverter Market Size & Outlook, 2023-2030
China pv inverter market, 2018-2030 (US$M)
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China pv inverter market highlights
- The China pv inverter market generated a revenue of USD 2,327.9 million in 2023 and is expected to reach USD 8,049.9 million by 2030.
- The China 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.
Pv inverter market data book summary
| Market revenue in 2023 | USD 2,327.9 million |
| Market revenue in 2030 | USD 8,049.9 million |
| Growth rate | 19.4% (CAGR from 2023 to 2030) |
| Largest segment | Central 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, China accounted for 17.8% 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 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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China 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 49.82% in 2023. Horizon Databook has segmented the China 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.
Chinese government has been actively investing in the power generation through renewable sources. They have also opened channels for foreign investment in the country, which is expected to further propel the PV inverter market in the region. China is one of the major producers of solar PV panels in the world.
Despite the current slowdown in its economy, China is still a lucrative market for investments compared to the Western economies. China accounted for the highest solar PV demand in the Asia Pacific on account of the increasing number of large-scale solar project installations in the country.
Over the past few years, China’s investment in solar power plants has been staggering on account of its increased focus on the reduction of carbon emissions to a minimal level by the end of 2020. China continues to lead in terms of solar PV capacity additions, with 100 GW added in 2022, almost 60% more than in 2021.
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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 country-level data and insights on the China pv inverter market , including forecasts for subscribers. This country databook contains high-level insights into China pv inverter market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China pv inverters market size, by product, 2018-2030 (US$M)
China PV Inverter Market Outlook Share, 2023 & 2030 (US$M)
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