Spain Pv Inverter Market Size & Outlook, 2023-2030
Spain pv inverter market, 2018-2030 (US$M)
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Spain pv inverter market highlights
- The Spain pv inverter market generated a revenue of USD 370.2 million in 2023 and is expected to reach USD 1,566.8 million by 2030.
- The Spain market is expected to grow at a CAGR of 22.9% 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 370.2 million |
| Market revenue in 2030 | USD 1,566.8 million |
| Growth rate | 22.9% (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, Spain accounted for 2.8% 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 Europe, Italy pv inverter market is projected to lead the regional market in terms of revenue in 2030.
- Poland is the fastest growing regional market in Europe and is projected to reach USD 326.1 million by 2030.
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PV Inverter Market Scope
PV Inverter Market Companies
| Name | Profile | # Employees | HQ | Website |
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Spain 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 61.4% in 2023. Horizon Databook has segmented the Spain 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.
Over the past years, Spain has become a world leader in solar power generation, with various supportive government resolutions and programs, such as the FIT schemes, that promote investments in non-conventional sources of energy.
Having removed the ‘sun tax’ and committed to switching entirely to solar and renewable electricity by 2050, Spain is set for a major surge in the adoption of solar energy. This trend is likely to continue over the forecast period. Spain has high exposure to sun energy due to its geographical location, which is expected to have a positive impact on the market.
New building code laws in Spain have mandated the use of solar hot water for remodeled and new private residences. This is likely to have a positive impact on the market over the forecast period as technology helps generate electricity as well as hot water.
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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 Spain pv inverter market , including forecasts for subscribers. This country databook contains high-level insights into Spain pv inverter market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Spain pv inverters market size, by product, 2018-2030 (US$M)
Spain PV Inverter Market Outlook Share, 2023 & 2030 (US$M)
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