South Africa Pv Inverter Market Size & Outlook, 2023-2030
South Africa pv inverter market, 2018-2030 (US$M)
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South Africa pv inverter market highlights
- The South Africa pv inverter market generated a revenue of USD 93.4 million in 2023 and is expected to reach USD 281.3 million by 2030.
- The South Africa market is expected to grow at a CAGR of 17.1% 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 93.4 million |
| Market revenue in 2030 | USD 281.3 million |
| Growth rate | 17.1% (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, South Africa 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 Middle East & Africa, UAE pv inverter market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 554.4 million by 2030.
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PV Inverter Market Scope
PV Inverter Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South 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.
String pv inverter was the largest segment with a revenue share of 45.93% in 2023. Horizon Databook has segmented the South 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.
The government of South Africa has been launching incentive schemes and tax rebates to increase the penetration of solar PV panels with PV inverters in the country. For instance, in February 2023, the government of South Africa announced a rebate scheme for rooftop PV in residential applications.
The campaign is expected to provide individuals to invest in Africa’s growing renewable energy market via Crowd cube, which is a British investment crowdfunding platform starting at USD 11.31. Increasing awareness about off-grid solar generation in the country is expected to boost the demand for PV inverters in the off-grid segment, in turn, fostering the overall market growth.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Africa pv inverter market , including forecasts for subscribers. This country databook contains high-level insights into South Africa pv inverter market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa pv inverters market size, by product, 2018-2030 (US$M)
South Africa PV Inverter Market Outlook Share, 2023 & 2030 (US$M)
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