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Market Enters Mature Stage and Renewable Energy Projects in Japan and Australia Slow Down
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The Asia-Pacific Renewable Energy (RE) inverters market is entering the mature stage, especially in developed countries such as Australia and Japan. However, growth potential still exists in Southeast Asia, as RE adoption growth is still promising. The market registered a revenue that was close to $2.5 billion and is forecasted to expand by less than 1% from 2016 to 2021. The low Compound Annual Growth Rate (CAGR) is attributed to the maturity of the largest markets such as Australia, Japan, and South Korea.In this study, the use of inverters usually reflects the development of RE. In Australia, solar and wind energy development are equally significant. This trend is expected to continue for the next 5 years, in spite of lowering of Feed-in-tariffs (FiTs) in the country. Southeast Asia’s RE inverter market is expected to account for double digit growth from 2016 to 2021, whereby the off-grid RE inverter market will find opportunities in rural electrification projects in this region. The top 5 countries with an attractive wind energy inverter market are Japan, Australia, South Korea, the Philippines, and Thailand. However, in the base year, this market was dull but is expected to pick up during the forecast period due to projects from these nations.Top 3 market participants with the highest share are Tabuchi Electric, Omron, and TMEIC.Research Scope:The market trends are analyzed for a study period of 2012 to 2022, with the base year being 2016. RE inverter for solar and wind power generation, for both on grid and off grid is the key focus area in this study. The capacity segments are broadly categorized into ‘Above 10kW’ and ‘Up to 10kW’. Geographic coverage includes Southeast Asia (Vietnam, Indonesia, Thailand, Malaysia, the Philippines, and Singapore), East Asia (Japan, Taiwan, and South Korea), and Australia and New Zealand (ANZ). This analysis excludes China.The other companies mentioned in this study include Sharp, Fuji Electric, SMA, ABB, Schneider Electric, and SolarEdge.Key Questions This Study Will Answer• What factors are driving the Asia-Pacific RE Inverters market? Is growth sustainable till 2021?• What are the RE targets of respective countries in the RE inverter market? Are the regulations and incentive schemes supporting the growth in the region?• What are the challenging factors in the market? Are competitors strategically positioned to meet these challenges?• Which market segments are more attractive during the forecast period—residential or utility scale?• Which are the major market competitors? Is the market facing competition from regional or Western multinational participants?
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