North America Pv Inverter Market Size & Outlook, 2023-2030
North America pv inverter market, 2018-2030 (US$M)
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North America pv inverter market highlights
- The North America pv inverter market generated a revenue of USD 3,146.5 million in 2023.
- The market is expected to grow at a CAGR of 20% 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, Mexico is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 3,146.5 million |
| Market revenue in 2030 | USD 11,304.8 million |
| Growth rate | 20% (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, North America region accounted for 24.0% 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 |
|---|
North America 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 45.69% in 2023. Horizon Databook has segmented the North America 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.
North America PV inverter market was dominated by the U.S. and Canada which account for dominant share in the region. Presence of favorable policies and regulations in the region coupled with initiatives taken by governments to boost renewable energy generation majorly in the U.S. and Canada has driven the market in the region.
Presence of major vendors of PV inverter in the region coupled with availability of support for research & development activities by the research organizations and manufacturers in the region has resulted to enhance adoption level of solar energy generation in the energy mix thus driving the demand for PV inverter in the region.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America pv inverter market , including forecasts for subscribers. This continent databook contains high-level insights into North America pv inverter market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America pv inverters market size, by country, 2018-2030 (US$M)
North America PV Inverter Market Outlook Share, 2023 & 2030 (US$M)
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