The sold production of inverters, rectifiers, and converters in Austria has experienced significant fluctuations over the past years. In 2023, the market stood at 506.79 million Euros. From 2021 to 2023, there was a notable increase, with a year-on-year growth of 25.15% in 2023 and a robust average annual growth rate (CAGR) of 61.35% over the last five years. However, in 2022, the market saw a decline of 14.18% compared to the previous year, indicating volatility. Trends over a longer period show high variability, with instances of sharp declines in 2018 and 2020, followed by strong recoveries in subsequent years.
- 2016-2017: The production saw steady growth.
- 2018: Significant drop by 61.46%.
- 2019: Major recovery with 203.85% growth.
- 2020: Sharp decline by 76.42%.
- 2021: Remarkable increase by 291.08%.
- 2022: Decrease by 14.18%.
- 2023: Rebound with 25.15% growth.
Future trends to watch for include continued growth nearly every year until 2028, with an expected CAGR of 3.85% over the next five years. The forecasted data indicates a positive and steady increase in production, suggesting an optimistic outlook for the industry.
