Taiwan Pv Inverter Market Size & Outlook, 2023-2030
Taiwan pv inverter market, 2018-2030 (US$M)
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Taiwan pv inverter market highlights
- The Taiwan pv inverter market generated a revenue of USD 240.1 million in 2023 and is expected to reach USD 774.3 million by 2030.
- The Taiwan market is expected to grow at a CAGR of 18.2% 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 240.1 million |
| Market revenue in 2030 | USD 774.3 million |
| Growth rate | 18.2% (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, Taiwan accounted for 1.8% 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 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 |
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Taiwan 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 51.1% in 2023. Horizon Databook has segmented the Taiwan 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.
Taiwan PV inverter market is expected to grow at a significant rate owing to the favorable government initiatives and rapid growth in power generation for solar energy. In April 2023, the government of Taiwan inaugurated a large-scale solar power plant with a capacity of 272 MW developed by Singapore’s Vena Energy located in Yunlin, Taiwan.
The power plant is expected to generate 400 GWh/year, which is expected to contribute about 4% of the country’s annual solar electricity output. Taiwan is one of the most lucrative markets for PV inverters in Asia Pacific owing to the government’s inclination toward the adoption of solar energy for power generation over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the Taiwan pv inverter market , including forecasts for subscribers. This country databook contains high-level insights into Taiwan pv inverter market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Taiwan pv inverters market size, by product, 2018-2030 (US$M)
Taiwan PV Inverter Market Outlook Share, 2023 & 2030 (US$M)
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