Asia Pacific Solar PV Inverter Market Growth, Size, Trends, Demand, Revenue and Future Outlook
Asia Pacific Solar PV Inverter Market Size- By Inverter Type, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jan-2024 | Report ID: POAE2404 | Pages: 1 - 157 | Formats*: |
| Category : Power & Energy | |||
Asia-Pacific Solar PV Inverter Market Introduction and Overview
According to SPER Market Research, the Asia-Pacific Solar PV Inverter Market is estimated to reach USD XX billion by 2033 with a CAGR of 7.2%.
The report includes an in-depth analysis of the Asia-Pacific Solar PV Inverter Market, including market size and trends, product mix, distribution channels, and supplier analysis. Solar PV inverters are electronic devices that change the electricity produced by solar panels from direct current (DC) to alternating current (AC). They are a crucial part of solar power systems, allowing solar energy to be used effectively for commercial, industrial, and residential purposes. PV inverters enable the integration of solar power into the current electrical grid, lowering reliance on traditional fossil fuel-based energy sources and encouraging the adoption of renewable energy sources by transforming the electricity from solar panels into a useable form.
- May 2022: An 18 MWh battery energy storage system in Gujarat, India, was equipped with a solar-plus-storage project that received 1 Mega Volt Ampere (MVA) inverters from FIMER SpA, an Italian solar PV inverter manufacturer. The project is situated in Modhera and is known as the Integrated Solar Energy Project. The state's utility, Gujarat Power Corporation Limited (GPCL), awarded the project to Mahindra Susten Pvt. Ltd, an Indian solar PV engineering, procurement, and construction (EPC) solution provider.
- April 2022: Solar Electric Vietnam Joint Stock Company and Sungrow, a producer of PV inverter solutions, inked a new 50 MW sales agreement. With this contract, Solar Electric became Sungrow's long-term strategic partner in Vietnam, further solidifying the two companies' cooperation.
Market Opportunities and Challenges
Opportunities: Emerging markets and unrealized potential: Although China, Japan, and India lead the Asia Pacific region's solar PV inverter market, there are a number of emerging markets with substantial unrealized potential. A growing number of countries, including Vietnam, Thailand, Indonesia, and Malaysia, are showing interest in solar energy and offer lucrative opportunities for industry participants. Furthermore, the market is given new opportunities by the convergence of solar PV inverters with cutting-edge technologies like data analytics, artificial intelligence (AI), and the Internet of Things (IoT). Solar PV inverter manufacturers can investigate opportunities for innovation in the following areas: predictive maintenance, remote monitoring and control, and smart grid integration.
Challenges: Many challenges hinder the growth and development of the Asia-Pacific Solar PV Inverters Market. First off, the business environment for solar energy companies is unpredictable due to varying government policies and regulatory uncertainties across different countries in the region. Investment and project implementation can be impeded by inconsistent tariff structures, grid connection policies, and subsidy programs. The overall efficiency of solar power systems can also be impacted by compatibility problems and interoperability barriers caused by the absence of standardized laws and technical standards for solar PV inverters. A noteworthy obstacle is the existence of fake and inferior goods on the market, which endangers the security of consumers and damages the industry's standing.
Market Competitive Landscape
The solar PV inverter market in Asia-Pacific is characterized by fragmentation. In no specific order, FIMER SpA, Schneider Electric SE, Siemens AG, Mitsubishi Electric Corporation, and Omron Corporation are a few of the leading companies in the market.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Inverter Type, By Application |
| Regions covered | China, India, Japan, South Korea, Australia and New Zealand, Indonesia, Thailand, Malaysia, Vietnam, Philippines, Singapore, Rest of Asia-Pacific |
| Companies Covered | Delta Energy Systems Inc., Enphase Energy Inc., FIMER SpA, General Electric Company, Genus Innovation Limited, Huawei Technologies Co. Ltd, Mitsubishi Electric Corporation, Omron Corporation, Schneider Electric SE, SMA Solar Technology AG. |
COVID-19 Impact on Asia-Pacific Solar PV Inverter Market
There has been a notable influence of the COVID-19 pandemic on the Asia-Pacific Solar PV Inverter Market. The outbreak caused supply chain hiccups, which postponed the production and delivery of solar PV inverters. Movement restrictions and a lack of workers were additional factors that led to project delays and higher operating expenses. Funding for solar projects has decreased as a result of the pandemic's impact on the financing and investment landscape and economic downturn. Furthermore, a reevaluation of priorities has been prompted by the financial strain and uncertainty facing businesses, which may slow down the adoption of solar energy solutions.
Key Target Audience:
- Solar Energy Developers and Installers
- Investors and Financial Institutions
- Manufacturers and Suppliers
- End Users
Our in-depth analysis of the Asia-Pacific Solar PV Inverter Market includes the following segments:
| By Inverter Type: |
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| By Application: |
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| By Region: |
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Key Topics Covered in the Report:
- Asia-Pacific Solar PV Inverter Market Size (FY’2023-FY’2033)
- Overview of Asia-Pacific Solar PV Inverter Market
- Segmentation of Asia-Pacific Solar PV Inverter Market By Inverter Type (Central Investors, String Inverters, Micro Inverters)
- Segmentation of Asia-Pacific Solar PV Inverter Market By Application (Residential, Commercial and Industrial, Utility-scale)
- Expansion Analysis of Asia-Pacific Solar PV Inverter Market
- Problems and Obstacles in Asia-Pacific Solar PV Inverter Market
- Competitive Landscape in the Asia-Pacific Solar PV Inverter Market
- Impact of COVID-19 and Demonetization on Asia-Pacific Solar PV Inverter Market
- Details on Current Investment in Asia-Pacific Solar PV Inverter Market
- Competitive Analysis of Asia-Pacific Solar PV Inverter Market
- Prominent Players in the Asia-Pacific Solar PV Inverter Market
- SWOT Analysis of Asia-Pacific Solar PV Inverter Market
- Asia-Pacific Solar PV Inverter Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Asia-Pacific Solar PV Inverter Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Asia-Pacific Solar PV Inverter Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Asia-Pacific Solar PV Inverter Market
7. Asia-Pacific Solar PV Inverter Market, By Inverter Type (USD Million)
7.1. Asia-Pacific Solar PV Inverter Market Value Share and Forecast, By Inverter Type, 2023-20337.2. Central Investors7.3. String Inverters7.4. Micro Inverters
8. Asia-Pacific Solar PV Inverter Market, By Application (USD Million)
8.1. Asia-Pacific Solar PV Inverter Market Value Share and Forecast, By Application, 2023-20338.2. Residential8.3. Commercial and Industrial8.4. Utility-scale
9. Asia-Pacific Solar PV Inverter Market Forecast, 2019-2033 (USD Million)
9.1. Asia-Pacific Solar PV Inverter Market Size and Market Share
10. Asia-Pacific Solar PV Inverter Market, By Inverter Type, 2019-2033 (USD Million)
10.1. Asia-Pacific Solar PV Inverter Market Size and Market Share By Inverter Type (2019-2026)10.2. Asia-Pacific Solar PV Inverter Market Size and Market Share By Inverter Type (2027-2033)
11. Asia-Pacific Solar PV Inverter Market, By Application, 2019-2033 (USD Million)
11.1. Asia-Pacific Solar PV Inverter Market Size and Market Share By Application (2019-2026)11.2. Asia-Pacific Solar PV Inverter Market Size and Market Share By Application (2027-2033)
12. Asia-Pacific Solar PV Inverter Market, By Region, 2019-2033 (USD Million)
12.1. Asia-Pacific Solar PV Inverter Market Size and Market Share By Region (2019-2026)12.2. Asia-Pacific Solar PV Inverter Market Size and Market Share By Region (2027-2033)12.3. China12.4. India12.5. Japan12.6. South Korea12.7. Australia and New Zealand12.8. Indonesia12.9. Thailand12.10. Malaysia12.11. Vietnam12.12. Philippines12.13. Singapore12.14. Rest of Asia-Pacific
13. Company Profile
13.1. Delta Energy Systems Inc.13.1.1. Company details13.1.2. Financial outlook13.1.3. Product summary13.1.4. Recent developments13.2. Enphase Energy Inc.13.2.1. Company details13.2.2. Financial outlook13.2.3. Product summary13.2.4. Recent developments13.3. FIMER SpA13.3.1. Company details13.3.2. Financial outlook13.3.3. Product summary13.3.4. Recent developments13.4. General Electric Company13.4.1. Company details13.4.2. Financial outlook13.4.3. Product summary13.4.4. Recent developments13.5. Genus Innovation Limited13.5.1. Company details13.5.2. Financial outlook13.5.3. Product summary13.5.4. Recent developments13.6. Huawei Technologies Co. Ltd13.6.1. Company details13.6.2. Financial outlook13.6.3. Product summary13.6.4. Recent developments13.7. Mitsubishi Electric Corporation13.7.1. Company details13.7.2. Financial outlook13.7.3. Product summary13.7.4. Recent developments13.8. Omron Corporation13.8.1. Company details13.8.2. Financial outlook13.8.3. Product summary13.8.4. Recent developments13.9. Schneider Electric SE13.9.1. Company details13.9.2. Financial outlook13.9.3. Product summary13.9.4. Recent developments13.10. SMA Solar Technology AG13.10.1. Company details13.10.2. Financial outlook13.10.3. Product summary13.10.4. Recent developments
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Asia-Pacific Solar PV Inverters Market is projected to reach USD XX Billion by 2033, growing at a CAGR of 7.2% during the forecast period.
Asia-Pacific Solar PV Inverters Market grew in market size from 2023. The Market is expected to reach USD XX Billion by 2033, at a CAGR of 7.2% during the forecast period.
Asia-Pacific Solar PV Inverters Market CAGR of 7.2% during the forecast period.
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Asia-Pacific Solar PV Inverters Market size is USD XX Billion from 2023 to 2033.
Asia-Pacific Solar PV Inverters Market Segment is Covered By Inverter Type, By Application
The Asia-Pacific region is anticipated to have the highest market share in Asia-Pacific Solar PV Inverters Market.
The key players in the market include Companies Covered Delta Energy Systems Inc., Enphase Energy Inc., FIMER SpA, General Electric Company, Genus Innovation Limited, Huawei Technologies Co. Ltd, Mitsubishi Electric Corporation, Omron Corporation, Schneider Electric SE, SMA Solar Technology AG.
A growing number of countries, including Vietnam, Thailand, Indonesia, and Malaysia, are showing interest in solar energy and offer lucrative opportunities for industry participants. Furthermore, the market is given new opportunities by the convergence of solar PV inverters with cutting-edge technologies like data analytics, artificial intelligence (AI), and the Internet of Things (IoT).
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