UAE Pv Inverter Market Size & Outlook, 2023-2030
UAE pv inverter market, 2018-2030 (US$M)
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UAE pv inverter market highlights
- The UAE pv inverter market generated a revenue of USD 175.6 million in 2023 and is expected to reach USD 554.4 million by 2030.
- The UAE market is expected to grow at a CAGR of 17.9% 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 175.6 million |
| Market revenue in 2030 | USD 554.4 million |
| Growth rate | 17.9% (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, UAE accounted for 1.3% 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 |
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UAE 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 46.36% in 2023. Horizon Databook has segmented the UAE 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 the UAE has been actively looking to diversify its energy generation mix away from traditional sources of energy generation. The country has been promoting the use of solar power plants by providing incentive schemes for private companies to enter the market.
For instance, in February 2023, Tawazun Industrial Park (TIP) announced the construction of a solar power plant with a capacity of 4,382 KW. The total installation is expected to consist of 7,600 solar panels on both rooftop and carport applications. The plant is expected to become operational by the end of 2023.
The UAE is one of the major countries in the region, in terms of the consumption of solar PV panels, due to the increase in the penetration of solar energy. The rising number of grid-connected solar PV projects in the country is expected to boost the demand for solar PV panels and PV inverters over the forecast period.
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Our clientele includes a mix of pv inverter market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the UAE pv inverter market , including forecasts for subscribers. This country databook contains high-level insights into UAE pv inverter market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UAE pv inverters market size, by product, 2018-2030 (US$M)
UAE PV Inverter Market Outlook Share, 2023 & 2030 (US$M)
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