TURKEY SOLAR INVERTER MARKET

Turkey solar inverter market is expected to experience significant CAGR during the forecast period driven by technological innovations and government initiatives to promote renewable energy.

Major Turkey Solar Inverter Market Drivers and Emerging Trends

Turkey solar inverter market size expansion is being fueled by advancements in technology including the more efficient and dependable inverters. Government support and a consumer trend towards clean energy alternatives are also playing key roles in driving market growth.

The inverter is a key component in a solar power setup which is responsible for converting DC into AC that is suitable for energy needs. Solar inverters are important because they enhance the energy efficiency of solar panels and facilitate effective power conversion.

 Turkey solar inverter market is growing as renewable energy and energy storage systems gain traction. The surge in demand for grid-tied and off-grid inverters necessary for solar PV is contributing to the market’s expansion. World Population Review indicates that Turkey’s solar power capacity reached 9,426 MW in 2022. Turkey boasts Europe’s biggest manufacturer for vertically integrated module and it is also the site of largest solar installation in the continent which is the 1.35 GW PV power facility Kalyon Karapinar.

The market growth is also driven by supportive industrial regulations and strict import barriers. Government policies are aiming to boost the integration of renewable energy by endorsing the deployment of inverters in solar power systems which contribute to grid stability and improve energy efficiency. To fully grasp the Turkish market, one must understand the extensive protectionist measures currently in effect. While EU solar stakeholders are still deliberating over how to address the extremely low costs of Chinese products, Turkey has been intensifying the antidumping policies and creating additional barriers at the border over the past seven years.

However, challenges in the Turkey solar inverter market include the high expense of inverters and the intricate process of adapting them for various applications. Ensuring that inverters perform reliably and efficiently in diverse operating conditions is also a key challenge. Moreover, the market is contending with competition from other power conversion options like converters and rectifiers.

Based on product type, the market includes central, micro, and string inverters with central inverters capturing the majority of the market revenue. The increasing requirement for central inverters in key utility and industrial applications contributes to this trend. Additionally, the rapid advancement of industrialization and renewable energy infrastructure in the country is projected to elevate the demand for medium-sized inverters.

Meanwhile, string inverters are frequently employed in commercial and residential settings as it provides superior scalability and flexibility. For individual panels, micro inverters are ideal as they ensure optimal power point adjustment and better efficiency. By accommodating various installation requirements and sizes, these types stimulate market demand. Furthermore, they contribute to innovation by improving system performance and compatibility with various renewable energy solutions.

Based on system type, it is segmented into off-grid and on-grid categories with the on-grid sector driving the market. Growing investment in direct electricity supply rather than battery storage is anticipated to boost the on-grid sector development.

Based on application, the market is divided into residential, utility, and commercial categories with the utility sector capturing the majority of the market share. Major industry players are contributing to the segment’s expansion by providing pre-integrated power plant solutions that enhance efficiency and minimize system expenses.

The growth is also seen in the commercial and residential sectors where the utilization is increasing due to supportive government incentives and declining solar panel costs. The growing demand has led to a notable increase in the need for solar inverters that are vital for transforming DC power from solar panels into AC energy for use.

Segments covered in the Report:

The Turkey Solar Inverter Market has been segmented on the basis of inverter type and application. Based on the inverter type, the market is segmented into central inverters, string inverters, micro inverters. Based on the connection type, the market is segmented into On-Grid Connection and Off-Grid Connection. Based on the application, the market is segmented into residential, commercial and industrial, utility-scale.

Market Segmentation

Turkey Solar Inverter Market by Inverter Type

• • Central Inverters
  • String Inverters
  • Micro Inverters

Turkey Solar Inverter Market by Connection Type

• • On-Grid Connection
  • Off-Grid Connection

Turkey Solar Inverter Market by Application

• • Residential
  • Commercial and Industrial
  • Utility-scale