Market Size of South America Solar PV Inverters Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Solar PV Inverters Market Analysis
The South American solar PV inverters market is projected to register a CAGR of over 5% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. It has now reached pre-pandemic levels.
- Over the long term, the growing demand for solar power is expected to stimulate the growth of the solar PV inverters market. Furthermore, increasing investments and ambitious solar energy targets are expected to drive the growth of the market studied.
- On the other hand, technical drawbacks of string inverters are expected to hamper the growth of solar PV inverters during the forecast period.
- Nevertheless, product innovation and adaptation of the latest technologies in solar PV inverters are likely to create lucrative growth opportunities.
- Brazil is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period. This growth is attributed to the increasing investments, coupled with supportive government policies in the country.
