Indonesia Pv Inverter Market Size & Outlook, 2023-2030
Indonesia pv inverter market, 2018-2030 (US$M)
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Indonesia pv inverter market highlights
- The Indonesia pv inverter market generated a revenue of USD 97.9 million in 2023 and is expected to reach USD 325.3 million by 2030.
- The Indonesia market is expected to grow at a CAGR of 18.7% 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 97.9 million |
| Market revenue in 2030 | USD 325.3 million |
| Growth rate | 18.7% (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, Indonesia accounted for 0.7% 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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Indonesia 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 53.93% in 2023. Horizon Databook has segmented the Indonesia 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.
Indonesia PV inverter market is expected to grow significantly due to the government’s inclination toward the adoption of solar energy for power generation. According to Indonesia’s Ministry of Energy and Mineral Resources, as of 2022, the total solar panel installed capacity was 62 MW across 5,500 households and industrial locations.
Indonesia Ministry of Energy and Mineral Resources (MoEMR) targeted to achieve 450 MW of capacity earlier this year. Indonesia is still far away from the targeted capacity due to the decision made by the government-owned electricity distribution company, Perusahaan Listrik Negara (PLN), to limit solar panel installation between 10% and 15%.
However, Mo EMR and PLN are reported to be working on more conducive policies to support the development of solar energy in the country. The government’s carbon neutrality ambitions and increasing solar PV installations are expected to drive the PV inverter market in the country over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the Indonesia pv inverter market , including forecasts for subscribers. This country databook contains high-level insights into Indonesia pv inverter market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Indonesia pv inverters market size, by product, 2018-2030 (US$M)
Indonesia PV Inverter Market Outlook Share, 2023 & 2030 (US$M)
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