South Korea Pv Inverter Market Size & Outlook, 2023-2030
South Korea pv inverter market, 2018-2030 (US$M)
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South Korea pv inverter market highlights
- The South Korea pv inverter market generated a revenue of USD 405.1 million in 2023 and is expected to reach USD 1,185.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 16.6% from 2024 to 2030.
- In terms of segment, string 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.
Pv inverter market data book summary
| Market revenue in 2023 | USD 405.1 million |
| Market revenue in 2030 | USD 1,185.3 million |
| Growth rate | 16.6% (CAGR from 2023 to 2030) |
| Largest segment | String pv inverter |
| Fastest growing segment | Micro 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 Korea accounted for 3.1% 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 |
|---|
South Korea 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 51.59% in 2023. Horizon Databook has segmented the South Korea 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.
By the end of 2020, the country’s cumulative PV capacity exceeded by 15 GW. Notable solar panel companies present in the country include S-ENERGY CO., LTD. and Hansol Technics. Recently, researchers have created the first fully transparent solar panel in the hope that it will lead to a wider rollout of solar energy usage in domestic settings.
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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 country-level data and insights on the South Korea pv inverter market , including forecasts for subscribers. This country databook contains high-level insights into South Korea pv inverter market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea pv inverters market size, by product, 2018-2030 (US$M)
South Korea PV Inverter Market Outlook Share, 2023 & 2030 (US$M)
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