Asia Pacific Central PV Inverter Market Size - By Phase (Single Phase, Three Phase), By Nominal Output Voltage (230 - 400 V, 401 - 600 V), By Nominal Output Power, By Application, Country Analysis & Forecast, 2024 – 2032

Asia Pacific Central PV Inverter Market Size

Asia Pacific Central PV Inverter Market was valued at USD 5 billion in 2023 and is estimated to grow at a CAGR of 8.3% between 2024 and 2032. These are high-capacity inverters specifically designed for large-scale photovoltaic installations, such as utility solar farms and extensive commercial solar projects. They convert the direct current electricity generated by multiple strings of solar panels into alternating current suitable for grid integration or on-site power consumption.
 

Rising deployment of utility-scale solar projects in the region particularly in countries such as China, India, and Australia will boost the product adoption. Increasing push towards smart grids in countries such as Japan and South Korea will create a conducive environment for high-capacity inverters that can support real-time data monitoring, voltage regulation, and grid code compliance.
 

Rising supportive government policies and renewable energy targets including China’s 14th Five-Year Plan (2021-2025) focus on expanding its renewable energy capacity, including large-scale solar parks and India's initiatives, such as the National Solar Mission, promote grid-connected solar power through subsidies and tax incentives will propel the product penetration. Increasing adoption of cost-effective inverters offering lower installation and maintenance costs per watt of power produced will augment the product growth.
 

Asia Pacific Central PV Inverter Market Trends

Growing technological advancements in inverter technology with features including multi-MPPT (Maximum Power Point Tracking), enhanced cooling systems, and higher efficiency rates (up to 99% in some models) will stimulate the product penetration. Furthermore, rising foreign and domestic investments in renewable energy will complement the product growth that can manage and optimize power generation on a large scale.
 

Asia Pacific Central PV Inverter Market Analysis

Based on phase, the three phase segment is anticipated to cross over USD 10 billion by 2032, due their capability to handle high voltage levels and efficiently manage large power outputs. Rising adoption of advanced inverter technologies offering robust grid support functionalities such as reactive power compensation, voltage regulation, and fault ride through capabilities, ensuring compliance with regional grid codes will complement the phase growth. Increasing inverters adoption that can handle larger power capacities and reduce the number of units required per project to simplifies system design and lower the overall capital and maintenance costs will drive the product penetration.
 

Based on application, the Asia Pacific central PV inverter market from commercial application is set to grow at a CAGR of over 8% through 2032. Rising demand for cost-effective inverters with decreased initial capital investment and operational expenses coupled with higher energy yield and efficiency will propel the product adoption. Increasing adoption of scalable solutions that can be easily adapted to varying system sizes for rooftop solar or medium-sized ground-mounted installations will foster the business landscape.
 

Furthermore, growing demand for modern solutions equipped from commercial settings with digital monitoring and control systems, making it easier for facility managers to monitor the system’s performance, detect faults, and optimize power generation remotely will drive the industry growth.
 

China central PV inverter market is predicted to hit USD 5 billion by 2032. Rising investments in utility-scale solar projects will augment product adoption due to their high efficiency and cost-effectiveness when deployed in high-capacity projects. Increasing companies focus on developing more efficient, higher voltage, and smart grid-compatible inverters will make central systems more attractive for commercial and utility-scale applications leading to boost the industry growth. Expanding inverter’s production capacity in China, resulting in reduced prices will additionally propel product penetration, making them a preferred choice for large-scale projects.
 

In the U.S. surge in utility-scale solar installations, driven by federal and state-level renewable energy targets will stimulate the industry growth. Rising federal incentives such as the Solar Investment Tax Credit (ITC) aimed to provide financial benefits to developers of large projects, encouraging the use of cost-effective solutions leading to augment the business outlook. Furthermore, an increasing shift towards high voltage systems to enhance efficiency and reduce operational costs will complement product growth capable of handling higher power outputs, making them suitable for new large-scale installations.
 

Asia Pacific Central PV Inverter Market Share

Eminent players are investing in research and development activities to integrate smart features, such as remote monitoring and diagnostics, to improve operational efficiency and reliability. Companies are forming strategic partnerships and collaboration to enhance their market penetration and provide access to local knowledge, which is crucial for adapting products to regional specifications. Additionally, engaging in joint ventures with engineering, procurement, and construction will help companies to streamline project delivery and customer satisfaction.
 

Asia Pacific Central PV Inverter Market Companies

Eminent players operating in the Asia Pacific central PV inverter industry are:

• ABB
• Delta Electronics
• Fimer
• Fuji Electric
• Hitachi
• Infineon Technologies
• Ingeteam Power Technology
• Power Electronics
• Sungrow
• SMA Solar Technology
• Schneider Electric
• Siemens
• Toshiba Mitsubishi-Electric Industrial Systems Corporation
   

Asia Pacific Central PV Inverter Industry News

• In October 2023, At the Renewable Energy India Expo in Greater Noida, Fuji Electric India showcased its PV 1500 series Central Solar Inverter. As a prominent player in industrial automation and energy solutions, Fuji Electric's inverter adeptly transforms DC power from solar panels into AC power, catering to the needs of extensive solar installations.
   
• In January 2022, Chinese inverter manufacturer Sungrow launched its 1+X modular central inverter, delivering an output of 1.1MW per unit. This cutting-edge product provides scalable and high-efficiency solutions tailored for extensive PV installations, further solidifying Sungrow's leadership in renewable energy technology.
   

This Asia Pacific central PV inverter market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in “(USD Billion & MW)” from 2021 to 2032, for the following segments:

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Market, By Phase

• Single Phase
• Three Phase

Market, By Nominal Output Voltage

• 230 - 400 V
• 401 - 600 V

Market, By Nominal Output Power

• <110 kW
• >110 kW

Market, By Application

• Commercial
• Industrial
• Utility

The above information has been provided for the following countries:

• China
• Australia
• India
• Japan
• South Korea