Market Size of Middle East and Africa Solar PV Inverters Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.39 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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MEA Solar PV Inverters Market Analysis
The Middle East and Africa Solar PV Inverters Market is projected to register a CAGR of over 7.39% during the forecast period.
The COVID-19 pandemic didn't significantly impact the market in 2020. Presently, the market has reached pre-pandemic levels.
- Over the long term, the market for solar PV inverters is anticipated to develop, along with investments and ambitious solar energy targets, due to the rising demand for solar electricity.
- On the other hand, technological drawback, such as the lack of expandability of string inverters, is expected to hamper the growth of solar PV inverters during the forecast period.
- Technological advancement and product innovation are likely to create opportunities for the market to grow in the upcoming years.
- United Arab Emirates is expected to be the largest market during the forecast period, with the majority of the demand for solar energy.
