Middle East And Africa Solar PV Inverter Market Growth, Size, Trends, Demand and Future Outlook
Middle East And Africa Solar PV Inverter Market Size- By Inverter Type, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Feb-2024 | Report ID: POAE2416 | Pages: 1 - 152 | Formats*: |
| Category : Power & Energy | |||
Middle East And Africa Solar PV Inverter Market Introduction and Overview
According to SPER Market Research, the Middle East And Africa Solar PV Inverter Market is estimated to reach USD XX Billion by 2033 with a CAGR of 7.5%.
The report includes an in-depth analysis of the Middle East And Africa Solar PV Inverter Market, including market size and trends, product mix, applications, and supplier analysis. Power inverters known as solar PV inverters convert direct current (DC) electricity generated by photovoltaic (PV) solar panels to alternating current (AC) at utility frequency. This can be used for residential and commercial electrical grids, as well as microgrids and other local off-grid electrical networks.
- August 2022- There have been reports of the completion of another solar installation in Syria, which had 1,818 solar panels and ten inverters for energy conversion. A one megawatt solar power plant was integrated into the electrical system in the village of Autan.
- January 2022: The Chinese inverter manufacturer Sungrow debuted their brand-new "1+X" central modular inverter, which has an output of 1.1 MW, during the World Future Energy Summit in Abu Dhabi. The 1+X modular inverter can be stacked into eight units to generate 8.8MW of power (ESS). It features a DC/ESS interface for connecting energy storage devices.
Market Opportunities and Challenges
Given the increasing need for solar electricity, it is expected that the market for solar PV inverters would grow over time, attracting investments and setting high goals for solar energy. The market is expected to increase in the approaching years due to opportunities created by technological advancement and innovative products. Recent technical developments are propelling market expansion by steadily improving solar PV inverters' capacity, dependability, efficiency, and thermal management. Growth is also being stimulated by the development of smart inverters, which provide sophisticated monitoring capabilities and grid support features for optimal system operation and maintenance. The adoption of renewable energy sources, such as solar power, is also being fueled by increased environmental consciousness, which is supporting industry expansion. Furthermore, the development and spread of energy storage devices that may store excess solar energy for usage at a later time when sunlight is scarce is having a positive effect on market dynamics.
Nonetheless, during the projected period, technological constraints such string inverters' incapacity to scale up are anticipated to impede the market's expansion for solar PV inverters. The erratic and unpredictable nature of solar energy poses a serious problem as well, necessitating the development of efficient energy storage systems and grid integration technologies in order to ensure a steady supply of electricity. Furthermore, bureaucratic procedures, complicated permitting, and regulatory barriers can cause delays in project completion and increase expenses. The implementation of solar PV projects is further hampered by financial limitations and restricted access to funding, particularly in developing nations. Grid integration is further complicated by inadequate transmission networks and other infrastructure. In addition, market dynamics and investor confidence can be impacted by geopolitical conflicts, security concerns, and socioeconomic variables including political unpredictability and currency changes.
Market Competitive Landscape
The major key players in the Middle East And Africa Solar PV Inverter Market are: Delta Energy Systems Inc., Enphase Energy Inc., FIMER SpA, Huawei Technologies Co. Ltd, Mitsubishi Electric Corporation, Omron Corporation, Schneider Electric SE, Siemens AG, Others.
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 | Israel, Saudi Arabia, UAE and rest of Middle East and Africa |
| Companies Covered | Delta Energy Systems Inc., Enphase Energy Inc., FIMER SpA, Huawei Technologies Co. Ltd, Mitsubishi Electric Corporation, Omron Corporation, Schneider Electric SE, Siemens AG, Others |
COVID-19 Impact on Middle East And Africa Solar PV Inverter Market
The Middle East and Africa solar PV inverter market has been affected by the COVID-19 outbreak in many ways. Lockdowns and supply chain disruptions initially prompted delays in projects and fewer installations; but, as a result of the recovery and greater emphasis on renewable energy as part of economic recovery plans, the industry has grown. The pandemic has also highlighted the significance of dependable and sustainable energy sources, which has stimulated investment in solar photovoltaic projects. Proactive actions are necessary for continuous growth, nevertheless, as persistent issues like funding limitations, regulatory uncertainties, and geopolitical conflicts continue to pose barriers to market progress.
Key Target Audience:
- Solar PV System Installers and Integrators
- Solar PV Component Manufacturers
- Solar PV Project Developers
- Energy Service Companies (ESCOs)
- End Users and Consumers
- Maintenance and Service Providers
- Others
Our in-depth analysis of the Middle East And Africa 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:
- Middle East And Africa Solar PV Inverter Market Size (FY’2023-FY’2033)
- Overview of Middle East And Africa Solar PV Inverter Market
- Segmentation of Middle East And Africa Solar PV Inverter Market By Inverter Type (Central Inverters, Micro Inverters, String Inverters)
- Segmentation of Middle East And Africa Solar PV Inverter Market By Application (Residential, Commercial and Industrial, Utility-scale)
- Statistical Snap of Middle East And Africa Solar PV Inverter Market
- Expansion Analysis of Middle East And Africa Solar PV Inverter Market
- Problems and Obstacles in Middle East And Africa Solar PV Inverter Market
- Competitive Landscape in the Middle East And Africa Solar PV Inverter Market
- Impact of COVID-19 and Demonetization on Middle East And Africa Solar PV Inverter Market
- Details on Current Investment in Middle East And Africa Solar PV Inverter Market
- Competitive Analysis of Middle East And Africa Solar PV Inverter Market
- Prominent Players in the Middle East And Africa Solar PV Inverter Market
- SWOT Analysis of Middle East And Africa Solar PV Inverter Market
- Middle East And Africa 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 analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Middle East And Africa 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 rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Middle East And Africa Solar PV Inverter Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Middle East And Africa Solar PV Inverter Market
7. Middle East And Africa Solar PV Inverter Market, By Inverter Type (USD Million)
7.1. Middle East And Africa Solar PV Inverter Market Value Share and Forecast, By Inverter Type, 2023-20337.2. Central Inverters7.3. Micro Inverters7.4. String Inverters
8. Middle East And Africa Solar PV Inverter Market, By Application (USD Million)
8.1. Middle East And Africa Solar PV Inverter Market Value Share and Forecast, By Application, 2023-20338.2. Residential8.3. Commercial and Industrial (C&I)8.4. Utility-scale
9. Middle East And Africa Solar PV Inverter Market Forecast, 2019-2033 (USD Million)
9.1. Middle East And Africa Solar PV Inverter Market Size and Market Share
10. Middle East And Africa Solar PV Inverter Market, By Inverter Type, 2019-2033 (USD Million)
10.1. Middle East And Africa Solar PV Inverter Market Size and Market Share By Inverter Type (2019-2026)10.2. Middle East And Africa Solar PV Inverter Market Size and Market Share By Inverter Type (2027-2033)
11. Middle East And Africa Solar PV Inverter Market, By Application, 2019-2033 (USD Million)
11.1. Middle East And Africa Solar PV Inverter Market Size and Market Share By Application (2019-2026)11.2. Middle East And Africa Solar PV Inverter Market Size and Market Share By Application (2027-2033)
12. Middle East And Africa Solar PV Inverter Market, By Region, 2019-2033 (USD Million)
12.1. Middle East And Africa Solar PV Inverter Market Size and Market Share By Region (2019-2026)12.2. Middle East And Africa Solar PV Inverter Market Size and Market Share By Region (2027-2033)12.3. Israel12.4. Saudi Arabia12.5. UAE12.6. Rest of Middle East and Africa
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. Huawei Technologies Co. Ltd13.4.1. Company details13.4.2. Financial outlook13.4.3. Product summary13.4.4. Recent developments13.5. Mitsubishi Electric Corporation13.5.1. Company details13.5.2. Financial outlook13.5.3. Product summary13.5.4. Recent developments13.6. Omron Corporation13.6.1. Company details13.6.2. Financial outlook13.6.3. Product summary13.6.4. Recent developments13.7. Schneider Electric SE13.7.1. Company details13.7.2. Financial outlook13.7.3. Product summary13.7.4. Recent developments13.8. Siemens AG13.8.1. Company details13.8.2. Financial outlook13.8.3. Product summary13.8.4. Recent developments13.9. Others
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
Middle East And Africa Solar PV Inverter Market is projected to reach USD XX billion by 2033, growing at a CAGR of 7.5% during the forecast period.
Middle East And Africa Solar PV Inverter Market size from 2022. The Market is expected to reach USD XX billion by 2033, at a CAGR of 7.5% during the forecast period.
Middle East And Africa Solar PV Inverter Market CAGR of 7.5% during the forecast period.
You can get the sample pages by clicking the link - Click Here
Middle East And Africa Solar PV Inverter Market size is XX billion from 2023 to 2033.
Middle East And Africa Solar PV Inverter Market Segment is covered By Airport Class, By Inverter Type, By Application.
The MEA is anticipated to have the highest market share in the Middle East And Africa Solar PV Inverter Market.
"The key players in the market include Companies Covered Delta Energy Systems Inc., Enphase Energy Inc., FIMER SpA, Huawei Technologies Co. Ltd, Mitsubishi Electric Corporation, Omron Corporation, Schneider Electric SE, Siemens AG, Others."
Recent technical developments are propelling market expansion by steadily improving solar PV inverters' capacity, dependability, efficiency, and thermal management.
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