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Press release content from BusinessWire. The AP news staff was not involved in its creation.

Australia Solar Inverter Market Outlook to 2024: Revenues Projected to Exceed $884 Million - ResearchAndMarkets.com

January 28, 2019

DUBLIN--(BUSINESS WIRE)--Jan 28, 2019--The “Australia Solar Inverter Market (2018-2024): Market Forecast by Power Rating, by Types, by Applications, by Regions, and Competitive Landscape” report has been added to ResearchAndMarkets.com’s offering.

Australia Solar Inverter market is at the growing stage.

Several upcoming solar power plant projects such as Western Downs Green Power Hub (500MW), Yuleba North Solar Project (300MW) and Wandoan South Solar project (1,000MW) in the country along with increasing residential rooftop solar PV systems are expected to drive the demand for solar inverters across Australia over the coming years.

Further, the Australian government invested around $8.5 billion in renewables in 2017, according to the United Nations (UN) report and $316.2 million has been allocated to the Australian Renewable Energy Agency budget in 2019, which will help to strengthen the solar energy sector across the country and pave way for the upliftment of the solar inverter market over the coming years.

According to this research, the Australia Solar Inverter Market revenues are projected to reach $884.5 million by 2024.

Australia solar inverter market is highly competitive and fragmented with the presence of domestic, international and unorganized market participants.

The market is broadly divided into four segments, according to power ratings, with the below 10kW segment dominating the market revenues. The segment will continue to lead throughout the forecast period owing to rising demand in the residential and commercial & industrial sectors.

By types, the string solar inverters dominated the market in 2017. The segment is anticipated to maintain its dominance during the forecast period as well on account of increasing adoption of solar energy by the residential, commercial and industrial sectors across the country.

Markets Covered

By Power Ratings

Below 10kW 10kW-100kW 100.1kW-1MW Above 1MW

By Types

Central Inverter String Inverter Micro Inverter

By Applications

Residential Commercial & Industrial Utility

By Regions

New South Wales Western Australia Victoria Queensland South Australia Others (Tasmania & Northern Territory)

Companies Profiled

ABB Delta Energy Systems Enphase Energy Fronius Huawei Technologies Redback Technologies SMA SolarEdge Technologies SolaX Power Sungrow Australia Group

For more information about this report visit https://www.researchandmarkets.com/research/dtdkkd/australia_solar?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20190128005261/en/

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Related Topics:Solar Power



SOURCE: Research and Markets

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PUB: 01/28/2019 05:41 AM/DISC: 01/28/2019 05:41 AM