Solar PV Inverters, Update 2018 - Global Market Size, Competitive Landscape, Key Country Analysis, and Forecast to 2022
20 Apr 2018 • by Natalie Aster
Global market was valued at $6.3 billion in 2017 and is estimated to hold an average annual value of $4.4 billion between 2018 and 2022. In terms of solar PV additions, Asia eclipsed all other markets for the fourth consecutive year, accounting for about two-thirds of global additions in 2017.
Consequently, Asia-Pacific region led the solar inverters market, witnessing $3.75 billion. It was followed by Americas and EMEA (Europe, Middle East, and Africa) registering $1.71 billion and $0.89 billion, respectively.
Solar PV Inverters, Market Value, Regional Share (%), 2017 and 2022
In terms of market value, China, the US, and Japan together held over 65% and led the global solar PV inverter market in the year 2017. The market developments in the top countries are largely due to economies of scale, emerging inverter technologies, and policy-based government and institutional industry. The utility-scale segment dominated the solar PV inverter market by registering $3.6 billion followed by the commercial and residential segments with $1.5 billion and $1.2 billion, respectively.
GlobalData's latest report «Solar PV Inverters, Update 2018 - Global Market Size, Competitive Landscape, Key Country Analysis, and Forecast to 2022», offers comprehensive information and understanding of the solar PV inverters market. The report analyzes the current trend and future potential of solar PV inverters market at global, regional (Americas, Asia-Pacific, and, Europe, Middle East and Africa (EMEA) and key countries (the US, Canada, Chile, China, India, Japan, the UK, Germany, France, Italy) level.