Market Size of Europe Solar PV Inverters Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Solar PV Inverters Market Analysis
The European solar PV inverters market is expected to register a CAGR of over 6% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Currently, the market has reached pre-pandemic levels.
- Over the short term, the European solar PV inverters market is expected to grow due to the factors such as government initiatives to expand the solar power market and investment in electrification using solar energy.
- On the other hand, the competition from other renewables is anticipated to threaten market growth in the coming years.
- Nevertheless, the technological developments in the solar PV inverters industry are predicted to create ample opportunities for the market. For example, in March 2022, Delta, the Taiwanese solar inverters maker, introduced a new inverter series that can achieve maximum efficiency of 98.7% and a European efficiency rating of 98.5%. It was unveiled at the Solar Solutions International Event 2022 in the Netherlands.
- Germany is expected to witness significant growth due to the high demand for solar PV installations in the residential and utility-scale sectors.
