U.S. Pv Inverter Market Size & Outlook, 2023-2030
U.S. pv inverter market, 2018-2030 (US$M)
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U.S. pv inverter market highlights
- The U.S. pv inverter market generated a revenue of USD 2,553.0 million in 2023 and is expected to reach USD 8,944.6 million by 2030.
- The U.S. market is expected to grow at a CAGR of 19.6% 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 2,553.0 million |
| Market revenue in 2030 | USD 8,944.6 million |
| Growth rate | 19.6% (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, U.S. accounted for 19.5% 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 North America, U.S. pv inverter market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 972.8 million by 2030.
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PV Inverter Market Scope
PV Inverter Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. 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 45.33% in 2023. Horizon Databook has segmented the U.S. 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 U.S. is among the early adopters of clean energy solutions in the world for sectors such as power generation and others. This can be attributed to the increased importance given to clean energy solutions as per the energy act introduced by the U.S. government.
Moreover, based on these acts, relevant policies and regulations have been established to cater to different aspects of distinct sectors such as power generation. U.S. greenhouse gas (GHG) emission levels, particularly from carbon dioxide (CO2), remain on top of discussion among policymakers and stakeholders.
Electricity sector is second largest source of greenhouse gas emission owing to the combustion of fossil fuels in power plant. Thus, the U.S. government has taken subsequent steps to reduce carbon emissions from power sector and is making continuous efforts to curb the greenhouse gas emission from power plant.
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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 U.S. pv inverter market , including forecasts for subscribers. This country databook contains high-level insights into U.S. pv inverter market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. pv inverters market size, by product, 2018-2030 (US$M)
U.S. PV Inverter Market Outlook Share, 2023 & 2030 (US$M)
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