Thailand Pv Inverter Market Size & Outlook, 2023-2030
Thailand pv inverter market, 2018-2030 (US$M)
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Thailand pv inverter market highlights
- The Thailand pv inverter market generated a revenue of USD 9.0 million in 2023 and is expected to reach USD 63.9 million by 2030.
- The Thailand market is expected to grow at a CAGR of 32.3% 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 9.0 million |
| Market revenue in 2030 | USD 63.9 million |
| Growth rate | 32.3% (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, Thailand accounted for 0.1% 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 |
|---|
Thailand 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 57.78% in 2023. Horizon Databook has segmented the Thailand 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.
PV Inverter market in Thailand is expected to grow significantly owing to the growing electricity demand and focus on the adoption of renewable energy sources for electricity generation. According to IRENA, the country’s peak electricity demand was 30 GW in 2015 and is expected to reach 51.5 GW by 2036.
In August 2023, Sansiri partnered with Huawei Technologies, ICBC leasing Company Ltd., and Ion Energy Corporation to offer low-interest loans to residents of Thailand for the installation of solar power generation systems as part of the country’s first “no collateral” solar system loan campaign.
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Horizon Databook provides a detailed overview of country-level data and insights on the Thailand pv inverter market , including forecasts for subscribers. This country databook contains high-level insights into Thailand pv inverter market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Thailand pv inverters market size, by product, 2018-2030 (US$M)
Thailand PV Inverter Market Outlook Share, 2023 & 2030 (US$M)
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