APAC Residential Solar PV Inverter Market size is anticipated to grow at a significant CAGR from 2021 to 2027, according to a latest forecast report by Graphical Research.
The market growth is on account of governmental efforts to refurbish the existing power generations units with renewable units along with stringent regulatory guidelines to fulfill individual country emission targets. Reducing raw material prices of semiconductors and tax rebates will favor product adoption. In addition, ongoing R&D activities to develop innovative large-scale residential units according to the market demand.
The COVID-19 pandemic marginally impacted operations across various industries and manufacturing facilities along with a delay in various solar installation arrays and projects. However, resuming operations coupled with vaccination drives have accelerated the business dynamics. In addition, the installation of delayed solar projects and the restart of production of various PV panels & modules will sway the market outlook.
The micro inverter product segment will gain remarkable momentum during the forecast timeline owing to increasing clean fuel application requirements along with adoption of solar energy across the remote areas. Strict environment laws along with increasing residential captive power requirements will further propel product adoption. The upscaling of isolated areas coupled with regulatory bodies implementing stringent emission norms and mandates to curb greenhouse gases emissions will augment the market demand.
Browse detailed statistical insights from the report, “Asia Pacific Residential Solar PV Inverter Market Forecast 2027 By Phase (Single Phase, Three Phase), By Product (String Inverter, Micro Inverter), Research Report, Country Outlook (China, Australia, India, Japan, South Korea), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The rapid upgrade of conventional electric systems along with an upsurge in evolving technological enhancements will propel the single-phase residential solar PV inverter industry growth. Additionally, energy conservation, low maintenance, and better product efficiency will positively influence the market size. Increasing investments toward the designing and development of green buildings will further fuel the market revenue.
The China residential solar PV inverter market will witness remarkable growth till 2027 owing to the ongoing urbanization and expansion in the real estate sector. The higher fuel output ratio, minimum start-up time, easy installation, low maintenance, and operation variability across multiple/mixed applications will further provide favorable business dynamics. For instance, in September 2020, Hainan Solar Park was commissioned in the Qinghai province, which is the largest solar facility in the country with a rated capacity of 2.2GW. Moreover, completion of project within the designed prospect coupled with ongoing renewable project pipeline will sway the business dynamics.
The APAC residential solar PV inverter market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
Asia Pacific Market, By Product
- String Inverter
- Micro Inverter
Asia Pacific Market, By Phase
The above information has been provided for the following countries:
- Asia Pacific
- South Korea