Asia Pacific PV Inverter Market Size, Share & Industry Trends Analysis Report By Product (String PV Inverter, Central PV Inverter, Micro PV Inverter, and Other PV Inverter), By End-use, By Country and Growth Forecast, 2023

Description

List of Tables

The Asia Pacific PV Inverter Market would witness market growth of 18.4% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 2,012.8 thousand units, showcasing a growth of 18.6% (2019-2022).

Ongoing advancements in PV inverter technology enhance efficiency, reliability, and overall performance. Innovations such as maximum power point tracking, advanced grid management features, and integrated monitoring systems are becoming standard, ensuring optimal energy harvest and system monitoring. The market is witnessing a change in the preference for string inverters over central inverters, especially in residential and commercial applications. String inverters offer scalability, easier maintenance, and higher energy production in partial shading conditions.

The integration of energy storage techniques with PV inverters is gaining traction. Hybrid inverter systems allow users to store excess solar energy in batteries for later use, improving energy independence and resilience, particularly in areas prone to grid outages. Smart inverters with advanced communication capabilities are becoming essential for seamless grid integration. These inverters enable real-time communication with the grid, offering features like reactive power control and voltage regulation. This tendency aligns with the growing emphasis on building smart, resilient energy infrastructure.

Supportive government policies and financial incentives, such as feed-in tariffs and tax credits, play a pivotal role in the growth of the market. The continuation and expansion of these policies can significantly impact market dynamics. The declining cost of solar panels and PV components and economies of scale in manufacturing contribute to the general affordability of solar power systems. As solar energy costs continue to decrease, the demand for PV inverters is expected to rise.

According to the Energy Information Administration (EIA), in 2021, solar and wind combined generated 12% of China's electricity. Similarly, according to the Ministry of New and Renewable Energy, at the end of 2022, installed solar power capacity reached around 61.97 GW. China has consistently increased its solar power capacity through large-scale utility projects, distributed solar installations, and rooftop solar. The growth in solar capacity directly translates to increased demand for PV inverters, which are essential for converting solar energy into usable electricity. Due to the aforementioned factors the market will drive in this region.

The China market dominated the Asia Pacific PV Inverter Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4,922.6 Million by 2030. The Japan market is showcasing a CAGR of 17.6% during (2023 - 2030). Additionally, The India market would register a CAGR of 19.1% during (2023 - 2030).

Based on Product, the market is segmented into String PV Inverter, Central PV Inverter, Micro PV Inverter, and Other PV Inverter. Based on End-use, the market is segmented into Utilities, Commercial & Industrial, and Residential. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Delta Electronics, Inc., Eaton Corporation PLC, Emerson Electric Co., Fimer Group, Hitachi, Ltd. (Hitachi Hi-Rel Power Electronics Private Limited), Omron Corporation, Power Electronics Espana, S.L.U. (Advanced Energy Industries, Inc.), Siemens Energy AG, SMA Solar Technology AG, and SunPower Corporation (Infineon Technologies AG)

Scope of the Study

Market Segments covered in the Report:

By Product (Volume, Thousand Units, USD billion, 2019-2030)

String PV Inverter
Central PV Inverter
Micro PV Inverter
Other PV Inverter

By End-use (Volume, Thousand Units, USD billion, 2019-2030)

Utilities
Commercial & Industrial
Residential

By Country (Volume, Thousand Units, USD billion, 2019-2030)

China
Japan
India
South Korea
Singapore
Malaysia
Rest of Asia Pacific

Companies Profiled

Delta Electronics, Inc.
Eaton Corporation PLC
Emerson Electric Co.
Fimer Group
Hitachi, Ltd. (Hitachi Hi-Rel Power Electronics Private Limited)
Omron Corporation
Power Electronics Espana, S.L.U. (Advanced Energy Industries, Inc.)
Siemens Energy AG
SMA Solar Technology AG
SunPower Corporation (Infineon Technologies AG)

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Chapter 1. Market Scope & Methodology

1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
- 1.4.1 Asia Pacific PV Inverter Market, by Product
- 1.4.2 Asia Pacific PV Inverter Market, by End-use
- 1.4.3 Asia Pacific PV Inverter Market, by Country
1.5 Methodology for the research

Chapter 2. Market at a Glance

2.1 Key Highlights

Chapter 3. Market Overview

3.1 Introduction
- 3.1.1 Overview
  - 3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints

Chapter 4. Competition Analysis - Global

4.1 KBV Cardinal Matrix
4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Partnerships, Collaborations and Agreements
- 4.2.2 Product launch and Product Expansions
- 4.2.3 Mergers & Acquisition
- 4.2.4 Geographical Expansions
4.3 Top Winning Strategies
- 4.3.1 Key Leading Strategies: Percentage Distribution (2019-2023)
4.4 Porter's Five Forces Analysis

Chapter 5. Asia Pacific PV Inverter Market, by Product

5.1 Asia Pacific String PV Inverter Market, by Country
5.2 Asia Pacific Central PV Inverter Market, by Country
5.3 Asia Pacific Micro PV Inverter Market, by Country
5.4 Asia Pacific Other PV Inverter Market, by Country

Chapter 6. Asia Pacific PV Inverter Market, by End-use

6.1 Asia Pacific Utilities Market, by Country
6.2 Asia Pacific Commercial & Industrial Market, by Country
6.3 Asia Pacific Residential Market, by Country

Chapter 7. Asia Pacific PV Inverter Market, by Country

7.1 China PV Inverter Market
- 7.1.1 China PV Inverter Market, by Product
- 7.1.2 China PV Inverter Market, by End-use
7.2 Japan PV Inverter Market
- 7.2.1 Japan PV Inverter Market, by Product
- 7.2.2 Japan PV Inverter Market, by End-use
7.3 India PV Inverter Market
- 7.3.1 India PV Inverter Market, by Product
- 7.3.2 India PV Inverter Market, by End-use
7.4 South Korea PV Inverter Market
- 7.4.1 South Korea PV Inverter Market, by Product
- 7.4.2 South Korea PV Inverter Market, by End-use
7.5 Singapore PV Inverter Market
- 7.5.1 Singapore PV Inverter Market, by Product
- 7.5.2 Singapore PV Inverter Market, by End-use
7.6 Malaysia PV Inverter Market
- 7.6.1 Malaysia PV Inverter Market, by Product
- 7.6.2 Malaysia PV Inverter Market, by End-use
7.7 Rest of Asia Pacific PV Inverter Market
- 7.7.1 Rest of Asia Pacific PV Inverter Market, by Product
- 7.7.2 Rest of Asia Pacific PV Inverter Market, by End-use

Chapter 8. Company Profiles

8.1 Delta Electronics, Inc.
- 8.1.1 Company Overview
- 8.1.2 Financial Analysis
- 8.1.3 Research & Development Expense
- 8.1.4 Recent strategies and developments:
  - 8.1.4.1 Partnerships, Collaborations, and Agreements:
  - 8.1.4.2 Product Launches and Product Expansions:
- 8.1.5 SWOT Analysis
8.2 Eaton Corporation PLC
- 8.2.1 Company Overview
- 8.2.2 Financial Analysis
- 8.2.3 Segmental and Regional Analysis
- 8.2.4 Research & Development Expense
- 8.2.5 Recent strategies and developments:
  - 8.2.5.1 Acquisition and Mergers:
- 8.2.6 SWOT Analysis
8.3 Emerson Electric Co.
- 8.3.1 Company Overview
- 8.3.2 Financial Analysis
- 8.3.3 Segmental and Regional Analysis
- 8.3.4 Research & Development Expense
- 8.3.5 SWOT Analysis
8.4 Fimer Group
- 8.4.1 Company Overview
- 8.4.2 Recent strategies and developments:
  - 8.4.2.1 Product Launches and Product Expansions:
  - 8.4.2.2 Acquisition and Mergers:
- 8.4.3 SWOT Analysis
8.5 Hitachi, Ltd. (Hitachi Hi-Rel Power Electronics Private Limited)
- 8.5.1 Company Overview
- 8.5.2 Financial Analysis
- 8.5.3 Segmental and Regional Analysis
- 8.5.4 Research & Development Expenses
- 8.5.5 Recent strategies and developments:
  - 8.5.5.1 Acquisition and Mergers:
- 8.5.6 SWOT Analysis
8.6 Omron Corporation
- 8.6.1 Company Overview
- 8.6.2 Financial Analysis
- 8.6.3 Segmental and Regional Analysis
- 8.6.4 Research & Development Expenses
- 8.6.5 SWOT Analysis
8.7 Power Electronics Espana, S.L.U (Advanced Energy Industries, Inc.)
- 8.7.1 Company Overview
- 8.7.2 Financial Analysis
- 8.7.3 Research & Development Expenses
- 8.7.4 SWOT Analysis
8.8 Siemens Energy AG
- 8.8.1 Company Overview
- 8.8.2 Financial Analysis
- 8.8.3 Segmental and Regional Analysis
- 8.8.4 Research & Development Expenses
- 8.8.5 Recent strategies and developments:
  - 8.8.5.1 Partnerships, Collaborations, and Agreements:
  - 8.8.5.2 Acquisition and Mergers:
- 8.8.6 SWOT Analysis
8.9 SMA Solar Technology AG
- 8.9.1 Company Overview
- 8.9.2 Financial Analysis
- 8.9.3 Segmental and Regional Analysis
- 8.9.4 Research & Development Expenses
- 8.9.5 Recent strategies and developments:
  - 8.9.5.1 Geographical Expansions:
- 8.9.6 SWOT Analysis
8.10. SunPower Corporation (Infineon Technologies AG)
- 8.10.1 Company Overview
- 8.10.2 Financial Analysis
- 8.10.3 Research & Development Expenses
- 8.10.4 Recent strategies and developments:
  - 8.10.4.1 Partnerships, Collaborations, and Agreements:
  - 8.10.4.2 Product Launches and Product Expansions:
- 8.10.5 SWOT Analysis

LIST OF TABLES

TABLE 1 Asia Pacific PV Inverter Market, 2019 - 2022, USD Million
TABLE 2 Asia Pacific PV Inverter Market, 2023 - 2030, USD Million
TABLE 3 Asia Pacific PV Inverter Market, 2019 - 2022, Thousand Units
TABLE 4 Asia Pacific PV Inverter Market, 2023 - 2030, Thousand Units
TABLE 5 Partnerships, Collaborations and Agreements- PV InverterMarket
TABLE 6 Product Launch And Product Expansions- PV InverterMarket
TABLE 7 Mergers & Acquisition- PV InverterMarket
TABLE 8 Geographical Expansions- PV InverterMarket
TABLE 9 Asia Pacific PV Inverter Market, by Product, 2019 - 2022, USD Million
TABLE 10 Asia Pacific PV Inverter Market, by Product, 2023 - 2030, USD Million
TABLE 11 Asia Pacific PV Inverter Market, by Product, 2019 - 2022, Thousand Units
TABLE 12 Asia Pacific PV Inverter Market, by Product, 2023 - 2030, Thousand Units
TABLE 13 Asia Pacific String PV Inverter Market, by Country, 2019 - 2022, USD Million
TABLE 14 Asia Pacific String PV Inverter Market, by Country, 2023 - 2030, USD Million
TABLE 15 Asia Pacific String PV Inverter Market, by Country, 2019 - 2022, Thousand Units
TABLE 16 Asia Pacific String PV Inverter Market, by Country, 2023 - 2030, Thousand Units
TABLE 17 Asia Pacific Central PV Inverter Market, by Country, 2019 - 2022, USD Million
TABLE 18 Asia Pacific Central PV Inverter Market, by Country, 2023 - 2030, USD Million
TABLE 19 Asia Pacific Central PV Inverter Market, by Country, 2019 - 2022, Thousand Units
TABLE 20 Asia Pacific Central PV Inverter Market, by Country, 2023 - 2030, Thousand Units
TABLE 21 Asia Pacific Micro PV Inverter Market, by Country, 2019 - 2022, USD Million
TABLE 22 Asia Pacific Micro PV Inverter Market, by Country, 2023 - 2030, USD Million
TABLE 23 Asia Pacific Micro PV Inverter Market, by Country, 2019 - 2022, Thousand Units
TABLE 24 Asia Pacific Micro PV Inverter Market, by Country, 2023 - 2030, Thousand Units
TABLE 25 Asia Pacific Other PV Inverter Market, by Country, 2019 - 2022, USD Million
TABLE 26 Asia Pacific Other PV Inverter Market, by Country, 2023 - 2030, USD Million
TABLE 27 Asia Pacific Other PV Inverter Market, by Country, 2019 - 2022, Thousand Units
TABLE 28 Asia Pacific Other PV Inverter Market, by Country, 2023 - 2030, Thousand Units
TABLE 29 Asia Pacific PV Inverter Market, by End-use, 2019 - 2022, USD Million
TABLE 30 Asia Pacific PV Inverter Market, by End-use, 2023 - 2030, USD Million
TABLE 31 Asia Pacific PV Inverter Market, by End-use, 2019 - 2022, Thousand Units
TABLE 32 Asia Pacific PV Inverter Market, by End-use, 2023 - 2030, Thousand Units
TABLE 33 Asia Pacific Utilities Market, by Country, 2019 - 2022, USD Million
TABLE 34 Asia Pacific Utilities Market, by Country, 2023 - 2030, USD Million
TABLE 35 Asia Pacific Utilities Market, by Country, 2019 - 2022, Thousand Units
TABLE 36 Asia Pacific Utilities Market, by Country, 2023 - 2030, Thousand Units
TABLE 37 Asia Pacific Commercial & Industrial Market, by Country, 2019 - 2022, USD Million
TABLE 38 Asia Pacific Commercial & Industrial Market, by Country, 2023 - 2030, USD Million
TABLE 39 Asia Pacific Commercial & Industrial Market, by Country, 2019 - 2022, Thousand Units
TABLE 40 Asia Pacific Commercial & Industrial Market, by Country, 2023 - 2030, Thousand Units
TABLE 41 Asia Pacific Residential Market, by Country, 2019 - 2022, USD Million
TABLE 42 Asia Pacific Residential Market, by Country, 2023 - 2030, USD Million
TABLE 43 Asia Pacific Residential Market, by Country, 2019 - 2022, Thousand Units
TABLE 44 Asia Pacific Residential Market, by Country, 2023 - 2030, Thousand Units
TABLE 45 Asia Pacific PV Inverter Market, by Country, 2019 - 2022, USD Million
TABLE 46 Asia Pacific PV Inverter Market, by Country, 2023 - 2030, USD Million
TABLE 47 Asia Pacific PV Inverter Market, by Country, 2019 - 2022, Thousand Units
TABLE 48 Asia Pacific PV Inverter Market, by Country, 2023 - 2030, Thousand Units
TABLE 49 China PV Inverter Market, 2019 - 2022, USD Million
TABLE 50 China PV Inverter Market, 2023 - 2030, USD Million
TABLE 51 China PV Inverter Market, 2019 - 2022, Thousand Units
TABLE 52 China PV Inverter Market, 2023 - 2030, Thousand Units
TABLE 53 China PV Inverter Market, by Product, 2019 - 2022, USD Million
TABLE 54 China PV Inverter Market, by Product, 2023 - 2030, USD Million
TABLE 55 China PV Inverter Market, by Product, 2019 - 2022, Thousand Units
TABLE 56 China PV Inverter Market, by Product, 2023 - 2030, Thousand Units
TABLE 57 China PV Inverter Market, by End-use, 2019 - 2022, USD Million
TABLE 58 China PV Inverter Market, by End-use, 2023 - 2030, USD Million
TABLE 59 China PV Inverter Market, by End-use, 2019 - 2022, Thousand Units
TABLE 60 China PV Inverter Market, by End-use, 2023 - 2030, Thousand Units
TABLE 61 Japan PV Inverter Market, 2019 - 2022, USD Million
TABLE 62 Japan PV Inverter Market, 2023 - 2030, USD Million
TABLE 63 Japan PV Inverter Market, 2019 - 2022, Thousand Units
TABLE 64 Japan PV Inverter Market, 2023 - 2030, Thousand Units
TABLE 65 Japan PV Inverter Market, by Product, 2019 - 2022, USD Million
TABLE 66 Japan PV Inverter Market, by Product, 2023 - 2030, USD Million
TABLE 67 Japan PV Inverter Market, by Product, 2019 - 2022, Thousand Units
TABLE 68 Japan PV Inverter Market, by Product, 2023 - 2030, Thousand Units
TABLE 69 Japan PV Inverter Market, by End-use, 2019 - 2022, USD Million
TABLE 70 Japan PV Inverter Market, by End-use, 2023 - 2030, USD Million
TABLE 71 Japan PV Inverter Market, by End-use, 2019 - 2022, Thousand Units
TABLE 72 Japan PV Inverter Market, by End-use, 2023 - 2030, Thousand Units
TABLE 73 India PV Inverter Market, 2019 - 2022, USD Million
TABLE 74 India PV Inverter Market, 2023 - 2030, USD Million
TABLE 75 India PV Inverter Market, 2019 - 2022, Thousand Units
TABLE 76 India PV Inverter Market, 2023 - 2030, Thousand Units
TABLE 77 India PV Inverter Market, by Product, 2019 - 2022, USD Million
TABLE 78 India PV Inverter Market, by Product, 2023 - 2030, USD Million
TABLE 79 India PV Inverter Market, by Product, 2019 - 2022, Thousand Units
TABLE 80 India PV Inverter Market, by Product, 2023 - 2030, Thousand Units
TABLE 81 India PV Inverter Market, by End-use, 2019 - 2022, USD Million
TABLE 82 India PV Inverter Market, by End-use, 2023 - 2030, USD Million
TABLE 83 India PV Inverter Market, by End-use, 2019 - 2022, Thousand Units
TABLE 84 India PV Inverter Market, by End-use, 2023 - 2030, Thousand Units
TABLE 85 South Korea PV Inverter Market, 2019 - 2022, USD Million
TABLE 86 South Korea PV Inverter Market, 2023 - 2030, USD Million
TABLE 87 South Korea PV Inverter Market, 2019 - 2022, Thousand Units
TABLE 88 South Korea PV Inverter Market, 2023 - 2030, Thousand Units
TABLE 89 South Korea PV Inverter Market, by Product, 2019 - 2022, USD Million
TABLE 90 South Korea PV Inverter Market, by Product, 2023 - 2030, USD Million
TABLE 91 South Korea PV Inverter Market, by Product, 2019 - 2022, Thousand Units
TABLE 92 South Korea PV Inverter Market, by Product, 2023 - 2030, Thousand Units
TABLE 93 South Korea PV Inverter Market, by End-use, 2019 - 2022, USD Million
TABLE 94 South Korea PV Inverter Market, by End-use, 2023 - 2030, USD Million
TABLE 95 South Korea PV Inverter Market, by End-use, 2019 - 2022, Thousand Units
TABLE 96 South Korea PV Inverter Market, by End-use, 2023 - 2030, Thousand Units
TABLE 97 Singapore PV Inverter Market, 2019 - 2022, USD Million
TABLE 98 Singapore PV Inverter Market, 2023 - 2030, USD Million
TABLE 99 Singapore PV Inverter Market, 2019 - 2022, Thousand Units
TABLE 100 Singapore PV Inverter Market, 2023 - 2030, Thousand Units
TABLE 101 Singapore PV Inverter Market, by Product, 2019 - 2022, USD Million
TABLE 102 Singapore PV Inverter Market, by Product, 2023 - 2030, USD Million
TABLE 103 Singapore PV Inverter Market, by Product, 2019 - 2022, Thousand Units
TABLE 104 Singapore PV Inverter Market, by Product, 2023 - 2030, Thousand Units
TABLE 105 Singapore PV Inverter Market, by End-use, 2019 - 2022, USD Million
TABLE 106 Singapore PV Inverter Market, by End-use, 2023 - 2030, USD Million
TABLE 107 Singapore PV Inverter Market, by End-use, 2019 - 2022, Thousand Units
TABLE 108 Singapore PV Inverter Market, by End-use, 2023 - 2030, Thousand Units
TABLE 109 Malaysia PV Inverter Market, 2019 - 2022, USD Million
TABLE 110 Malaysia PV Inverter Market, 2023 - 2030, USD Million
TABLE 111 Malaysia PV Inverter Market, 2019 - 2022, Thousand Units
TABLE 112 Malaysia PV Inverter Market, 2023 - 2030, Thousand Units
TABLE 113 Malaysia PV Inverter Market, by Product, 2019 - 2022, USD Million
TABLE 114 Malaysia PV Inverter Market, by Product, 2023 - 2030, USD Million
TABLE 115 Malaysia PV Inverter Market, by Product, 2019 - 2022, Thousand Units
TABLE 116 Malaysia PV Inverter Market, by Product, 2023 - 2030, Thousand Units
TABLE 117 Malaysia PV Inverter Market, by End-use, 2019 - 2022, USD Million
TABLE 118 Malaysia PV Inverter Market, by End-use, 2023 - 2030, USD Million
TABLE 119 Malaysia PV Inverter Market, by End-use, 2019 - 2022, Thousand Units
TABLE 120 Malaysia PV Inverter Market, by End-use, 2023 - 2030, Thousand Units
TABLE 121 Rest of Asia Pacific PV Inverter Market, 2019 - 2022, USD Million
TABLE 122 Rest of Asia Pacific PV Inverter Market, 2023 - 2030, USD Million
TABLE 123 Rest of Asia Pacific PV Inverter Market, 2019 - 2022, Thousand Units
TABLE 124 Rest of Asia Pacific PV Inverter Market, 2023 - 2030, Thousand Units
TABLE 125 Rest of Asia Pacific PV Inverter Market, by Product, 2019 - 2022, USD Million
TABLE 126 Rest of Asia Pacific PV Inverter Market, by Product, 2023 - 2030, USD Million
TABLE 127 Rest of Asia Pacific PV Inverter Market, by Product, 2019 - 2022, Thousand Units
TABLE 128 Rest of Asia Pacific PV Inverter Market, by Product, 2023 - 2030, Thousand Units
TABLE 129 Rest of Asia Pacific PV Inverter Market, by End-use, 2019 - 2022, USD Million
TABLE 130 Rest of Asia Pacific PV Inverter Market, by End-use, 2023 - 2030, USD Million
TABLE 131 Rest of Asia Pacific PV Inverter Market, by End-use, 2019 - 2022, Thousand Units
TABLE 132 Rest of Asia Pacific PV Inverter Market, by End-use, 2023 - 2030, Thousand Units
TABLE 133 Key Information - Delta Electronics, Inc.
TABLE 134 Key Information - Eaton Corporation PLC
TABLE 135 Key Information - Emerson Electric Co.
TABLE 136 Key Information - Fimer Group
TABLE 137 Key Information - Hitachi, Ltd.
TABLE 138 Key Information - Omron Corporation
TABLE 139 Key Information - Power Electronics Espana, S.L.U.
TABLE 140 Key Information - Siemens Energy AG
TABLE 141 Key Information - SMA Solar Technology AG
TABLE 142 Key Information - SunPower Corporation

Asia Pacific PV Inverter Market Size, Share & Industry Trends Analysis Report By Product (String PV Inverter, Central PV Inverter, Micro PV Inverter, and Other PV Inverter), By End-use, By Country and Growth Forecast, 2023 - 2030