Asia-Pacific Renewable Energy Inverters Market Leverages Favourable Targets and Feed-in Tariffs to Catalyze Growth
June 16, 2017 | Frost & SullivanEstimated reading time: 2 minutes
While the Asia-Pacific renewable energy (RE) inverters market is reaching maturity, the Southeast Asia market is entering a growth phase. Robust renewable energy targets (RETs), favourable RE government regulations, and feed-in electricity tariff (FiT) schemes are factors augmenting growth. To succeed in a fiercely competitive ecosystem, companies must adopt value-added, consumer-centric business models and become one-stop solution providers.
“As RE prices continue to fall and market growth remains stable, it is imperative for inverter suppliers to consolidate their propositions, reduce costs, and collaborate with RE and energy storage companies to secure strategic deals,” said Frost & Sullivan Energy & Environment Industry Analyst Avanthika Satheesh Pallickadavil.
“Consolidation through partnerships or mergers and acquisitions will help achieve integrated solutions and a competitor advantage,” she added.
Asia-Pacific Renewable Energy Inverters Market, Forecast to 2021, part of Frost & Sullivan's Energy Storage Growth Partnership Service program, finds that the East Asia region is the largest revenue contributor in the Asia-Pacific market; however, Southeast Asia is the fastest growing market. The study provides an analysis of current and expected market developments, drivers, restraints, revenue forecast by country, and growth opportunities. Market share and competitive landscape for majors such as Tabuchi Electric, TMEIC, Omron Corporation, Sharp Corporation, Fuji Electric, SMA, ABB, Schneider Electric, Solar Edge, Fronius, and Enphase are also provided.
Click here for complimentary access to more information on this analysis and to register for a Growth Strategy Dialogue, a free interactive briefing with Frost & Sullivan’s thought leaders.
Regional trends driving growth in the Asia-Pacific RE inverters market include:
- Boost to solar power industry due to supportive government policies and tax rebates on equipment machinery;
- Rise in residential sector solar photovoltaic (PV) system adoption due to FiT policies;
- Strong revenues in Japan, Australia, the Philippines, and Malaysia due to rapid adoption of rooftop solar PV plants;
- New wind energy projects in Japan, Australia, South Korea, the Philippines, and Thailand;
- Large residential solar panel installations in Singapore; and
- Push by Taiwanese government to develop rooftop PV plants and mound projects.
“With an influx of low-cost, popular commercial and residential RE inverter products by Chinese manufacturers such as Sungrow, Huawei, and Xantrex, competition is stiff. Value-added propositions such as consultancy and customisation are a must to secure brand equity and reinforce market presence in view of fierce competition,” noted Avanthika.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community.
Suggested Items
SPEA Expands in Southeast Asia with New Subsidiary in Thailand
05/17/2024 | SPEASPEA, a global leader in automatic test equipment for the manufacturing of semiconductor, microelectronic and electronic devices, today announced the opening of its new subsidiary in Thailand. This expansion marks a significant step forward in SPEA's commitment to serving the growing Southeast Asian microchip and electronics market with leading-edge manufacturing machinery and equipment.
PCB Market Size to Grow by $29.06B from 2024-2028
05/17/2024 | PRNewswireThe global printed circuit board (PCB) market size is estimated to grow by USD 29.06 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 6.6% during the forecast period.
AT&S 2024/25 on Growth Course Again
05/17/2024 | AT&SAT&S operated in a challenging market environment in the financial year 2023/24. After a strong second quarter, demand was relatively weak again in some market segments in the second half of the financial year.
Shipments of OLED Monitors Hit 200,000 Units in 1Q24, Annual Forecast to Reach 1.34 Million
05/17/2024 | TrendForceTrendForce’s latest report reveals a robust start to 2024 for OLED monitors, with shipments reaching approximately 200,000 units in the first quarter—marking a YoY growth of 121%.
Magnachip Celebrates the Grand Opening of Magnachip Technology Company in China
05/16/2024 | MagnachipMagnachip Semiconductor Corporation celebrated the opening ceremony of Magnachip Technology Company, Ltd. (MTC) yesterday at its headquarters located in Hefei, China. MTC is a subsidiary of Magnachip, established on December 20, 2023, to expand the Company’s display driver IC and power IC businesses in China.