The Vietnam Solar Inverter Market Revenues are Projected to Reach $43.8 Million by 2024
The growing emphasis on renewable energy and government incentives for the promotion of solar energy would propel the demand for solar inverters in Vietnam over the coming years. Additionally, lucrative government subsidies and schemes such as Feed in Tariff and Net Metering has boosted the FDI (Foreign Direct Investment) in the solar energy sector in the country, which would increase the demand for solar inverters in Vietnam during 2018-24.
According to this research, the Vietnam Solar Inverter market revenues are projected to reach $43.8 million by 2024. The government originally planned to develop 850 MW of solar projects before 2020 under the latest revision of the National Power Development Masterplan (PDP VII). However, the MoIT (Ministry of Industry and Trade) has approved around 70 solar projects with a total capacity of over 3,000 MW which would be commissioned before June 30, 2019. The original aim of 850 MW by 2020 would be exceeded due to the new solar tender being approved by the government, which would act as a catalyst for the growth of solar inverter market over the coming years.
The solar inverter market of Vietnam is expected to grow substantially in the initial years of the forecast period on the back of favorable response received from the investors in the solar market. The market is expected to stabilize during the latter part of the period. The Southern region of Vietnam has the highest potential for solar energy as it is situated near the equator and most of the upcoming projects are concentrated in the Southern region of Vietnam.
The report thoroughly covers Vietnam Solar Inverter market by power rating, types, verticals and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers, which would help the stakeholders to devise and align market strategies according to the current and future market dynamics.
Key Highlights of the Report:
- Historical Data of Vietnam Solar Inverter Market Revenues and volume for the Period 2014-2017.
- Market Size & Forecast of Vietnam Solar Inverter Market for the Period 2018-2024F.
- Historical Data of Vietnam Solar Inverter Market Revenues and volume by power rating for the Period 2014-2017.
- Market Size & Forecast of Vietnam Solar Inverter Market Revenues and volume by power rating for the Period 2018-2024F.
- Historical Data of Vietnam Solar Inverter Market Revenues by types for the Period 2014-2017.
- Market Size & Forecast of Vietnam Solar Inverter Market Revenues by types for the Period 2018-2024F.
- Historical Data of Vietnam Solar Inverter Market Revenues by Verticals for the Period 2014-2017.
- Market Size & Forecast of Vietnam Solar Inverter Market Revenues by Verticals for the Period 2018-2024F.
- Historical Data of Vietnam Solar Inverter Market Revenues by regions for the Period 2014-2017.
- Market Size & Forecast of Vietnam Solar Inverter Market by regions for the Period 2018-2024F.
- Market Drivers and Restraints.
- Market Trends and Developments.
- Players Market Share.
- Company Profiles.
- Strategic Recommendations.
Markets Covered:
The report provides a detailed analysis of the following market segments:
By Power Ratings
- Below 10 kW
- 10 kW - 100 kW
- 100.1 kW - 1 MW
- Above 1 MW
By Types
- Central Inverter
- String Inverter
- Micro Inverter
By Verticals
- Residential
- Commercial & Industrial
- Utility
By Regions
- Northern
- Southern
Table of Contents
1. Executive Summary
Samples
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Companies Mentioned
- ABB Ltd. (Vietnam)
- Fronius International GMBH
- Huawei Technologies Co Ltd
- Jiangsu Goodwe Power Supply Technology Ltd.
- Shenzhen Growatt New Energy Technology Co., Ltd
- Siemens AG
- SMA Solar Technology AG
- SolarEdge Technologies Ltd.
- SolaX Power Co., Ltd.
- Sungrow Power Supply Co., Ltd.
- Toshiba Mitsubishi-Electric Industrial Systems Corporation
