Asia Pacific Solar Inverters Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Central, String, and Micro), System Type (On-Grid and Off-Grid), and End User (Residential, Commercial, and Utility)
The Asia Pacific solar inverters market is expected to reach US$ 8499.59 million by 2028 from US$ 4852.40 million in 2022; it is estimated to grow at a CAGR of 9.8% from 2022 to 2028.
Various schemes are currently being launched to encourage the domestic use of solar power, with the governments working toward establishing solar power as a primary energy source. Installing solar rooftop systems helps people generate electricity and use it for different purposes, including residential, commercial, and even industrial. Several regional governments launched various schemes to encourage the implementation of rooftop solar panels to make it easier. For instance, in January 2022, the Ministry of New and Renewable Energy mentioned that households are free to get rooftop solar panels installed by themselves or by any vendor of their choice, and a photograph of the installed system for distribution utility is sufficient to avail benefits or subsidy under the government scheme. Earlier under the rooftop solar scheme, the households were required to get that from the listed vendors only to avail of the benefits and subsidies under the scheme. The decision to simplify the rooftop solar scheme was taken in a review meeting chaired by the union minister of power and new and renewable Energy on January 19, 2022, as per a statement by the ministry. The subsidy to be given by the Indian government, which is 40% for the rooftop of up to 3 kilowatts (KW) capacity and 20% beyond that up to 10 KW, is credited to the account of the householder by the Discom within 30 days of the installation. Further, in September 2019, those planning to install rooftop panels can avail of priority sector loans of up to 10 lakhs from nationalized banks. According to the Ministry of New and Renewable Energy, the central government pays 30% of the benchmarked installation cost for the photovoltaic rooftop system. This is for the states in the general category, while the states and union territories (UTs) in the special category, such as Uttarakhand, Himachal Pradesh, Sikkim, Jammu & Kashmir, and Lakshadweep, get up to 70% of the predetermined installation cost.
The rising number of solar installations attributed to government-led incentives and schemes is propelling the demand for solar inverters, driving the APAC solar inverters market. The Asia Pacific solar inverters market is expected to grow at a good CAGR during the forecast period.
Asia Pacific Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
Asia Pacific Solar Inverters Market Segmentation
The Asia Pacific solar inverters market is segmented into type, system type, end user, and country. Based on type, the market is segmented into central, string, and micro. The central segment would lead the Asia Pacific solar inverters market in 2022. Based on system type, the market is bifurcated into on-grid and off-grid. The on-grid segment would dominate the Asia Pacific solar inverters market in 2022. Based on end user, the market is segmented into residential, commercial, and utility. The utility segment would lead the Asia Pacific solar inverters market in 2022. By country, the Asia Pacific solar inverters market is segmented into China, Japan, India, South Korea, Australia, and the Rest of APAC. China would dominate the Asia Pacific solar inverters market in 2022.
FIMER S.a.p, Delta Electronics; Enertechups, GOODWE; Power Electronics S.L, Powerone Micro Systems Pvt. Ltd, Sineng Electric, SMA Solar Technology AG, SolarEdge Technologies, and Hitachi Hi-Rel Power Electronic Pvt. Ltd are among the leading companies in the Asia Pacific solar inverters market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Solar Inverters Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 APAC
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. APAC Solar Inverters Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Number of Solar Installations attributed to Government-led Incentives and Schemes
5.1.2 Growing Residential Solar Rooftop Installations
5.2 Market Restraints
5.2.1 Safety Risks Associated with High DC Voltages in Solar Inverters
5.3 Market Opportunities
5.3.1 Increasing Investments in Renewable Energy Sector
5.4 Future Trends
5.4.1 Technological Innovations in Solar Inverters
5.5 Impact Analysis of Drivers and Restraints
6. Solar inverters – APAC Market Analysis
6.1 APAC Solar Inverters Market Revenue Forecast and Analysis
7. APAC Solar Inverters Market Analysis – By Type
7.1 Overview
7.2 APAC Solar Inverters Market Breakdown, By Type, 2021 and 2028
7.3 Central
7.3.1 Overview
7.3.2 Central: APAC Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
7.4 String
7.4.1 Overview
7.4.2 String: APAC Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
7.5 Micro
7.5.1 Overview
7.5.2 Micro: APAC Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
8. APAC Solar Inverters Market Analysis – By System Type
8.1 Overview
8.2 APAC Solar Inverters Market Breakdown, By System Type, 2021 and 2028
8.3 On-Grid
8.3.1 Overview
8.3.2 On-Grid: APAC Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
8.4 Off-Grid
8.4.1 Overview
8.4.2 Off-Grid: APAC Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
9. APAC Solar Inverters Market Analysis – By End User
9.1 Overview
9.2 APAC Solar Inverters Market Breakdown, By End User, 2021 and 2028
9.3 Residential
9.3.1 Overview
9.3.2 Residential: APAC Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
9.4 Commercial
9.4.1 Overview
9.4.2 Commercial: APAC Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
9.5 Utility
9.5.1 Overview
9.5.2 Utility: APAC Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
10. APAC Solar Inverters Market – Country Analysis
10.1 APAC: Solar Inverters Market
10.1.1 Overview
10.1.2 APAC Solar Inverters Market Breakdown, by Country
10.1.3 APAC Solar Inverters Market Breakdown, by Country
10.1.3.1 Australia Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
10.1.3.1.1 Australia APAC Solar Inverters Market Breakdown, By Type
10.1.3.1.2 Australia APAC Solar Inverters Market Breakdown, By System Type
10.1.3.1.3 Australia APAC Solar Inverters Market Breakdown, By End User
10.1.3.2 China Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
10.1.3.2.1 China APAC Solar Inverters Market Breakdown, By Type
10.1.3.2.2 China APAC Solar Inverters Market Breakdown, By System Type
10.1.3.2.3 China APAC Solar Inverters Market Breakdown, By End User
10.1.3.3 India Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
10.1.3.3.1 India APAC Solar Inverters Market Breakdown, By Type
10.1.3.3.2 India APAC Solar Inverters Market Breakdown, By System Type
10.1.3.3.3 India APAC Solar Inverters Market Breakdown, By End User
10.1.3.4 Japan Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
10.1.3.4.1 Japan APAC Solar Inverters Market Breakdown, By Type
10.1.3.4.2 Japan APAC Solar Inverters Market Breakdown, By System Type
10.1.3.4.3 Japan APAC Solar Inverters Market Breakdown, By End User
10.1.3.5 South Korea Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
10.1.3.5.1 South Korea APAC Solar Inverters Market Breakdown, By Type
10.1.3.5.2 South Korea APAC Solar Inverters Market Breakdown, By System Type
10.1.3.5.3 South Korea APAC Solar Inverters Market Breakdown, By End User
10.1.3.6 Rest of APAC Solar Inverters Market, Revenue and Forecast to 2028 (US$ million)
10.1.3.6.1 Rest of APAC APAC Solar Inverters Market Breakdown, By Type
10.1.3.6.2 Rest of APAC Solar Inverters Market Breakdown, By System Type
10.1.3.6.3 Rest of APAC Solar Inverters Market Breakdown, By End User
11. Industry Landscape
11.1 Market Initiative
11.2 Merger and Acquisition
11.3 New Development
12. Company Profiles
12.1 FIMER S.p.A.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Delta Electronics, Inc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Enertechups
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 GOODWE
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Power Electronics S.L.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Powerone Micro Systems Pvt.Ltd
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Sineng Electric
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 SMA Solar Technology AG
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 SolarEdge Technologies Inc.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Hitachi Hi-Rel Power Electronics Pvt Ltd.
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. APAC Solar Inverters Market Revenue Forecast and Forecast to 2028 (US$ Million)
Table 2. APAC Solar Inverters Market, Revenue and Forecast To 2028 – By Country (US$ million)
Table 3. Australia Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 4. Australia Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 5. Australia Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 6. China Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 7. China Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 8. China Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 9. India Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 10. India Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 11. India Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 12. Japan Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 13. Japan Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 14. Japan Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 15. South Korea Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 16. South Korea Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 17. South Korea Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 18. Rest of APAC Solar Inverters Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 19. Rest of APAC Solar Inverters Market, Revenue and Forecast to 2028 – By System Type (US$ million)
Table 20. Rest of APAC Solar Inverters Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 21. List of Abbreviation
LIST OF FIGURES
Figure 1. APAC Solar Inverters Market Segmentation
Figure 2. APAC Solar Inverters Market Segmentation – By Country
Figure 3. APAC Solar Inverters Market Overview
Figure 4. APAC Solar Inverters Market, by Type
Figure 5. APAC Solar Inverters Market, by System Type
Figure 6. APAC Solar Inverters Market, by End User
Figure 7. APAC Solar Inverters Market, by Country
Figure 8. APAC: PEST Analysis
Figure 9. APAC Solar inverters Market- Ecosystem Analysis
Figure 10. APAC Expert Opinion
Figure 11. APAC Solar Inverters Market: Impact Analysis of Drivers and Restraints
Figure 12. APAC Solar Inverters Market Revenue Forecast and Analysis (US$ Million)
Figure 13. APAC Solar Inverters Market Revenue Share, By Type (2021 and 2028)
Figure 14. Central: APAC Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. String: APAC Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. Micro: APAC Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. APAC Solar Inverters Market Revenue Share, By System Type (2021 and 2028)
Figure 18. On-Grid: APAC Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. Off-Grid: APAC Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. APAC Solar Inverters Market Revenue Share, By End User (2021 and 2028)
Figure 21. Residential: APAC Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. Commercial: APAC Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. Utility: APAC Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
Figure 24. APAC Solar Inverters Market Breakdown, by Country, 2021 & 2028 (%)
Figure 25. APAC Solar Inverters Market Breakdown, by Country, 2021 & 2028 (%)
Figure 26. Australia Solar Inverters Market, Revenue and Forecast To 2028 (US$ million)
Figure 27. China Solar Inverters Market, Revenue and Forecast To 2028 (US$ million)
Figure 28. India Solar Inverters Market, Revenue and Forecast To 2028 (US$ million)
Figure 29. Japan Solar Inverters Market, Revenue and Forecast To 2028 (US$ million)
Figure 30. South Korea Solar Inverters Market, Revenue and Forecast To 2028 (US$ million)
Figure 31. Rest of APAC Solar Inverters Market, Revenue and Forecast To 2028 (US$ million)
- FIMER S.a.p.
- Delta Electronics.
- Enertechups.
- GOODWE.
- Power Electronics S.L.
- Powerone Micro Systems Pvt.Ltd.
- Sineng Electric.
- SMA Solar Technology AG.
- SolarEdge Technologies.
- Hitachi Hi-Rel Power Electronic Pvt.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific Solar Inverters market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in Asia Pacific Solar Inverters market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the solar inverters market as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.