Japan Pv Inverter Market Size & Outlook, 2023-2030
Japan pv inverter market, 2018-2030 (US$M)
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Japan pv inverter market highlights
- The Japan pv inverter market generated a revenue of USD 1,566.2 million in 2023 and is expected to reach USD 5,342.0 million by 2030.
- The Japan market is expected to grow at a CAGR of 19.2% 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 1,566.2 million |
| Market revenue in 2030 | USD 5,342.0 million |
| Growth rate | 19.2% (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, Japan accounted for 12.0% 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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Japan 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 47.2% in 2023. Horizon Databook has segmented the Japan 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.
Japan is recognized as a developed and technologically advanced economy. PV inverter market in Japan has developed at a tremendous rate and is growing at significant rate as compared to rest of the countries in Asia Pacific region on account of strong government support and strategic market focus.
Moreover, factors such as government policies for power generation through renewable sources coupled with growing environmental concerns owing to the growing green- house gas emission from power companies, are expected to propel the market PV Inverter in Japan during the forecast period.
Japan is one of the major countries producing ground-mounted solar PV panels owing to the presence of market players like Mitsubishi and Toshiba. Favorable government initiatives like FiT (feed-in tariffs), under which the unit price of the electricity is fixed by the government, are introduced to increase investments in renewable energy by price certainty in the country.
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Horizon Databook provides a detailed overview of country-level data and insights on the Japan pv inverter market , including forecasts for subscribers. This country databook contains high-level insights into Japan pv inverter market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Japan pv inverters market size, by product, 2018-2030 (US$M)
Japan PV Inverter Market Outlook Share, 2023 & 2030 (US$M)
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