Market Size of Asia-Pacific Solar Inverter Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 2.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Solar Inverter Market Analysis
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.
- Over the short term, the Asia-Pacific solar inverter market is predicted to flourish due to the ambitious solar energy targets set by the Asian countries and the interests shown by private investors.
- On the other hand, the cut-throat competition from other renewables is expected to restrain the market shortly.
- Nevertheless, product innovation and the introduction of the latest technologies in solar PV inverters are likely to create ample opportunities for the solar inverters market in the region.
- China is expected to dominate the market in the unfolding scene due to government initiatives to expand the solar energy portfolio in the country.
