Middle East & Africa Pv Inverter Market Size & Outlook
Middle East & Africa pv inverter market, 2018-2030 (US$M)
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MEA pv inverter market highlights
- The MEA pv inverter market generated a revenue of USD 429.2 million in 2023.
- The market is expected to grow at a CAGR of 17.2% from 2024 to 2030.
- In terms of segment, central 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.
- Country-wise, UAE is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 429.2 million |
| Market revenue in 2030 | USD 1,302.5 million |
| Growth rate | 17.2% (CAGR from 2023 to 2030) |
| Largest segment | Central pv inverter |
| Fastest growing segment | Micro PV inverter |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, MEA region accounted for 3.3% of the global pv inverter market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 11,304.8 million by 2030.
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PV Inverter Market Scope
PV Inverter Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa 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 47.09% in 2023. Horizon Databook has segmented the Middle East & Africa 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.
Countries covered under the Middle East & Africa include Saudi Arabia, the UAE, and other African countries. Saudi Arabia and the UAE have made huge investments in the installation of solar power stations in their countries to minimize cost in the long run and to make use of the abundant solar energy exposure throughout the year.
Moreover, the Middle East is investing in solar power projects to become a self-sufficient region for power generation over the forecast period. In Africa, major solar power plant investments have been made in Nigeria and Egypt on account of high and continuous exposure to solar energy.
The amount of investment is expected to increase tremendously, consequently making the Middle East & Africa one of the important PV inverter regional markets globally in the coming years.
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Target buyers of Middle East & Africa pv inverter market databook
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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 continent-level data and insights on the Middle East & Africa pv inverter market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa pv inverter market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA pv inverters market size, by country, 2018-2030 (US$M)
Middle East & Africa PV Inverter Market Outlook Share, 2023 & 2030 (US$M)
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