UK Pv Inverter Market Size & Outlook, 2023-2030
UK pv inverter market, 2018-2030 (US$M)
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UK pv inverter market highlights
- The UK pv inverter market generated a revenue of USD 412.3 million in 2023 and is expected to reach USD 840.9 million by 2030.
- The UK market is expected to grow at a CAGR of 10.7% from 2024 to 2030.
- In terms of segment, central 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 412.3 million |
| Market revenue in 2030 | USD 840.9 million |
| Growth rate | 10.7% (CAGR from 2023 to 2030) |
| Largest segment | Central 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, UK 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 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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UK 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.
Central pv inverter was the largest segment with a revenue share of 47.78% in 2023. Horizon Databook has segmented the UK 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.
Focus on reducing carbon emissions and energy efficient power generation has emerged as the top priority for policymakers in the UK, which is resulting in the formation of stringent environmental and emission norms. These norms, which are becoming increasingly tighter, are projected renewable power generation which is expected to drive the market for PV inverter in UK.
The government of the UK has been actively investing in various renewable energy technologies, including solar power and wind power. The country’s energy generation infrastructure is in the process of switching from traditional sources to sustainable technologies.
Various economic benefits and opportunities offered by solar energy are projected to drive the market in the UK. With PV modules becoming inexpensive, the installation rates have gone up in the country, and the upgrading of old power plants is expected to drive the market. Notable solar companies in the country include first4solar and Maxeon Solar Technologies, Ltd.
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Horizon Databook provides a detailed overview of country-level data and insights on the UK pv inverter market , including forecasts for subscribers. This country databook contains high-level insights into UK pv inverter market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK pv inverters market size, by product, 2018-2030 (US$M)
UK PV Inverter Market Outlook Share, 2023 & 2030 (US$M)
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