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Asia Pacific PV Inverter Market Trends

Report ID: GMI6656
Published Date: Sep 2023
Report Format: PDF

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Asia Pacific PV Inverter Market Trends

Surge in solar installations coupled with growing investments by the public and private sector will accelerate the industry expansion. Rising requirement for large-scale solar power plants coupled with gradual shift from the local grids will augment the business statistics. In addition, financial incentives across the private & public sectors to set up large-capacity solar facilities along with increasing research and development initiatives.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

APAC PV inverter market size reached USD 11.91 billion in 2023 and may surpass USD 26.72 billion by 2032, due to the rapidly changing consumer preferences and the ongoing technology advancements for clean energy sources in the region.

Asia Pacific PV inverter market size from the string product segment recorded over USD 5.7 billion in 2022 and may observe appreciable growth by 2032 owing to scalability and cost effectiveness of these inverters across the residential and commercial sectors.

China PV inverter market size crossed USD 5.5 billion in 2022 due to the presence of international manufacturers along with growing technological advancements in the nation.

Some of the influential PV inverter firms in APAC include General Electric, SMA Solar Technology AG, Sungrow, Growatt New Energy, Darfon Electronics Corp., Schneider Electric, Enphase Energy, Siemens, Fimer Group', NingBo Deye Inverter Technology Co., Ltd., among others.