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Asia Pacific Central PV Inverter Market Size

Report ID: GMI11783
Published Date: Oct 2024
Report Format: PDF

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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.

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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.

Asia Pacific Central PV Inverter Market Report Attributes
Report Attribute	Details
Base Year:	2023
Asia Pacific Central PV Inverter Market Size in 2023:	USD 5 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	8.3%
2032 Value Projection:	USD 10.7 Billion
Historical Data for:	2021 - 2023
No. of Pages:	100
Tables, Charts & Figures:	25
Segments covered:	Phase, Nominal Output Voltage, Nominal Output Power, Application and Country
Growth Drivers:	Rising deployment of utility scale solar projects Advancements in grid infrastructure
Pitfalls & Challenges:	High initial cost

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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.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The Asia Pacific market for central PV inverter was reached USD 5 billion in 2023 and is projected to grow at a CAGR of 8.3% from 2024 to 2032, driven by the increasing adoption of high-capacity inverters designed for large-scale photovoltaic installations.

The three-phase segment is expected to surpass USD 10 billion by 2032, attributed to the segment's ability to handle high voltage levels and efficiently manage large power outputs, making it ideal for extensive photovoltaic installations.

The Asia Pacific central PV inverter market from commercial application is projected to grow at a CAGR of over 8% through 2032, driven by rising demand for cost-effective inverters that offer lower capital investment, reduced operational costs, and higher energy efficiency.

China central PV inverter market is predicted to reach USD 5 billion by 2032. fueled by increasing investments in utility-scale solar projects.

Key players in the Asia Pacific central PV inverter industry include ABB, Delta Electronics, Fimer, Fuji Electric, Hitachi, Infineon Technologies, Ingeteam Power Technology, Power Electronics, Sungrow, SMA Solar Technology, Schneider Electric, Siemens, and Toshiba Mitsubishi-Electric Industrial Systems Corporation.