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 |
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.
Europe Solar PV Inverters Industry Segmentation
The solar PV inverter is the most critical component of a solar energy system that converts the direct current (DC) electricity (generated by solar panels) to alternating current (AC) electricity (the power used by the grid).
The European solar PV inverters market is segmented by type, application, and geography. By type, the market is segmented into central inverters, string inverters, and micro-inverters. By application, the market is segmented into residential, commercial & industrial, and utility-scale. The report also covers the market size and forecasts for the European solar PV inverters market across the major countries. For each segment, the market sizing and forecasts have been done based on revenue (in USD billion).
Europe Solar PV Inverters Market Size Summary
The European solar PV inverters market is poised for significant growth, driven by government initiatives and investments in solar energy electrification. Despite the initial setbacks due to the COVID-19 pandemic, the market has rebounded to pre-pandemic levels and is expected to continue expanding. Technological advancements in solar PV inverters, such as those introduced by Delta and Sungrow, are anticipated to create substantial opportunities. These developments, alongside the establishment of the Solar Photovoltaic Industry Alliance by the European Commission, are set to enhance manufacturing technologies and drive market growth. Germany, in particular, is expected to experience robust growth due to its high demand for solar PV installations, supported by attractive feed-in tariffs and government projects.
The market landscape is characterized by fragmentation, with key players like Fimer SpA, Schneider Electric SE, Mitsubishi Electric Corporation, General Electric Company, and Siemens AG actively participating. Germany leads the region in installed capacity, benefiting from a combination of self-consumption incentives and government-supported projects. Recent tenders and auctions by Germany's Federal Network Agency further underscore the country's commitment to expanding its solar PV capacity. The introduction of new manufacturing facilities, such as SMA Solar Technology AG's gigawatt factory in Germany, highlights the industry's focus on increasing production capacity to meet growing demand. These factors collectively position the European solar PV inverters market for continued expansion in the coming years.
Europe Solar PV Inverters Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Central Inverters
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2.1.2 String Inverters
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2.1.3 Micro Inverters
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2.2 Application
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2.2.1 Residential
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2.2.2 Commercial & Industrial
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2.2.3 Utility-scale
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2.3 Geography
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2.3.1 Germany
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2.3.2 France
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2.3.3 United Kingdom
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2.3.4 Rest of Europe
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Europe Solar PV Inverters Market Size FAQs
What is the current Europe Solar PV Inverters Market size?
The Europe Solar PV Inverters Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Europe Solar PV Inverters Market?
Fimer SpA, Siemens AG, Mitsubishi Electric Corporation, General Electric Company and Schneider Electric SE are the major companies operating in the Europe Solar PV Inverters Market.
