What is the outlook for the Asia-Pacific solar inverter market?

The Asia-Pacific solar inverter market is expected to register a CAGR of around 2.5% during the forecast period. The market did not witness any significant negative impact of COVID-19 in 2020. Presently, the market has reached pre-pandemic levels.

How big is the PV inverter market?

The PV inverter market size is valued at US$ 15.33 billion by 2025, from US$ 42.54 billion in 2032, at a CAGR of 15.7% during the forecast period.

What are the trends in the PV inverter market?

PV Inverter Market Trends Rising demand for storage along with PV systems: The growing demand for battery storage solutions in conjunction with photovoltaic or solar systems is having a substantive impact on the PV Inverter Market.

Who are the key players in the Asia-Pacific solar inverter market?

The Asia-Pacific solar inverter market is fragmented. Some of the key players in the market (in no particular order) include Fimer SpA, Schneider Electric SE, Siemens AG, Mitsubishi Electric Corporation, and Omron Corporation.

What are PV inverter market drivers?

PV Inverter Market Drivers: Growing demand for renewable energy solutions: The world is witnessing a growing demand for renewable sources of energy owing to rising concerns over environmental pollution and fossil fuel depletion. Solar energy, being abundant and clean, has emerged as one of the most viable renewable energy solutions.