100+ datasets found
  1. m

    Solar PV Inverter Market Size, Growth & Industry Analysis | 2030

    • mordorintelligence.com
    pdf,excel,csv,ppt
    Updated Jul 7, 2025
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    Mordor Intelligence (2025). Solar PV Inverter Market Size, Growth & Industry Analysis | 2030 [Dataset]. https://www.mordorintelligence.com/industry-reports/solar-pv-inverters-market
    Explore at:
    pdf,excel,csv,pptAvailable download formats
    Dataset updated
    Jul 7, 2025
    Dataset authored and provided by
    Mordor Intelligence
    License

    https://www.mordorintelligence.com/privacy-policyhttps://www.mordorintelligence.com/privacy-policy

    Time period covered
    2020 - 2030
    Area covered
    Global
    Description

    The Solar PV Inverter Market Report is Segmented by Inverter Type (Central Inverters, String Inverters, Micro Inverters, and Hybrid/Battery-Ready Inverters), Phase (Single-Phase and Three-Phase), Connection Type (On-Grid and Off-Grid), Application (Residential, Commercial and Industrial, and Utility-Scale), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa).

  2. c

    PV Inverter Market Trends, Share and Forecast, 2025-2032

    • coherentmarketinsights.com
    Updated Jan 30, 2024
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    Coherent Market Insights (2024). PV Inverter Market Trends, Share and Forecast, 2025-2032 [Dataset]. https://www.coherentmarketinsights.com/industry-reports/pv-inverter-market
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    Dataset updated
    Jan 30, 2024
    Dataset authored and provided by
    Coherent Market Insights
    License

    https://www.coherentmarketinsights.com/privacy-policyhttps://www.coherentmarketinsights.com/privacy-policy

    Time period covered
    2025 - 2031
    Area covered
    Global
    Description

    PV Inverter Market size was valued at US$ 15.33 billion by 2025 and is projected to grow fromUS$ 42.54 billion in 2032 with CAGR of 15.7%.

  3. P

    Solar Inverters/Pv Inverters Market Report, 2034

    • polarismarketresearch.com
    Updated Jan 10, 2025
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    Polaris Market Research (2025). Solar Inverters/Pv Inverters Market Report, 2034 [Dataset]. https://www.polarismarketresearch.com/industry-analysis/solar-inverter-pv-inverter-market
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    Dataset updated
    Jan 10, 2025
    Dataset authored and provided by
    Polaris Market Research
    License

    https://www.polarismarketresearch.com/privacy-policyhttps://www.polarismarketresearch.com/privacy-policy

    Description

    Solar Inverters/PV Inverters Market will reach USD 24.63 billion by 2034, expanding at a CAGR of 5.5%.

  4. m

    MEA Solar PV Inverters Market Size & Share Analysis - Industry Research...

    • mordorintelligence.com
    pdf,excel,csv,ppt
    Updated Jun 19, 2025
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    Mordor Intelligence (2025). MEA Solar PV Inverters Market Size & Share Analysis - Industry Research Report - Growth Trends [Dataset]. https://www.mordorintelligence.com/industry-reports/middle-east-and-africa-solar-pv-inverters-market
    Explore at:
    pdf,excel,csv,pptAvailable download formats
    Dataset updated
    Jun 19, 2025
    Dataset authored and provided by
    Mordor Intelligence
    License

    https://www.mordorintelligence.com/privacy-policyhttps://www.mordorintelligence.com/privacy-policy

    Time period covered
    2019 - 2030
    Area covered
    Middle East
    Description

    The Middle East and Africa solar pv inverters market is segmented by Inverter Type (Central Inverters, String Inverters, and Micro Inverters), Application (Residential, Commercial and Industrial (C&I), and Utility-scale), and Geography ( UAE, Saudi Arabia, Israel, and Rest of Middle East and Africa ). The report offers the market size and forecasts in revenue (USD billion) for all the above segments.

  5. Global solar PV inverter market share based on shipments 2022, by company

    • statista.com
    Updated Jul 9, 2025
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    Statista (2025). Global solar PV inverter market share based on shipments 2022, by company [Dataset]. https://www.statista.com/statistics/1003705/global-pv-inverter-market-share-shipments/
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    Dataset updated
    Jul 9, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Time period covered
    2022
    Area covered
    Worldwide
    Description

    In 2022, Huawei had the largest PV inverter market shipments worldwide, accounting for some 29 percent of the market. Huawei was followed by Sungrow Power Supply and Ginlong Solis in the second and third position respectively, based on shipments.

  6. Utility Scale PV Inverter Market Size & Share, Growth Statistics 2037

    • researchnester.com
    Updated Dec 6, 2024
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    Research Nester (2024). Utility Scale PV Inverter Market Size & Share, Growth Statistics 2037 [Dataset]. https://www.researchnester.com/reports/utility-scale-pv-inverter-market/5619
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    Dataset updated
    Dec 6, 2024
    Dataset authored and provided by
    Research Nester
    License

    https://www.researchnester.comhttps://www.researchnester.com

    Description

    The utility scale pv inverter market size was valued at USD 15.69 billion in 2024 and is expected to reach USD 43.71 billion by 2037, expanding at around 8.2% CAGR during the forecast period i.e., between 2025-2037. North America industry is predicted to account for largest revenue share of 40% by 2037, due to a surge in large-scale solar projects, driven by supportive policies, tax incentives, and the declining costs of solar technology in the region.

  7. Solar Inverter Market Size, Share & Industry Forecast Report 2030

    • gmiresearch.com
    pdf
    Updated Nov 8, 2019
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    GMI Research (2019). Solar Inverter Market Size, Share & Industry Forecast Report 2030 [Dataset]. https://www.gmiresearch.com/report/global-solar-inverter-market/
    Explore at:
    pdfAvailable download formats
    Dataset updated
    Nov 8, 2019
    Dataset provided by
    Authors
    GMI Research
    License

    https://www.gmiresearch.com/terms-and-conditions/https://www.gmiresearch.com/terms-and-conditions/

    Description

    Solar Inverter Market registered a revenue of USD 10.7 billion in 2022 and is projected to reach USD 15.6 billion in 2030, growing at a CAGR of 4.8% during the forecast period from 2023-2030

  8. C

    Commercial Industrial PV Inverter Market Report

    • promarketreports.com
    doc, pdf, ppt
    Updated Jan 30, 2025
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    Pro Market Reports (2025). Commercial Industrial PV Inverter Market Report [Dataset]. https://www.promarketreports.com/reports/commercial-industrial-pv-inverter-market-20421
    Explore at:
    pdf, ppt, docAvailable download formats
    Dataset updated
    Jan 30, 2025
    Dataset authored and provided by
    Pro Market Reports
    License

    https://www.promarketreports.com/privacy-policyhttps://www.promarketreports.com/privacy-policy

    Time period covered
    2025 - 2033
    Area covered
    Global
    Variables measured
    Market Size
    Description

    The commercial industrial PV inverter market is projected to reach $9.63 billion by 2033, with a CAGR of 7.53% during the forecast period. Factors driving this growth include the increasing adoption of renewable energy sources, the decreasing cost of solar PV systems, and the growing demand for energy efficiency in commercial and industrial buildings. Additionally, government incentives and policies are also supporting the adoption of PV inverters. The market is segmented by application, technology, end use, and connection type. The utility-scale segment is expected to hold the largest share of the market, followed by the commercial installation segment. String inverters are expected to remain the dominant technology, while multi-MPPT inverters are expected to gain traction. Commercial buildings are expected to be the largest end-use segment, followed by manufacturing facilities and warehouses. On-grid inverters are expected to hold the largest share of the market, followed by hybrid inverters. Geographically, the Asia Pacific region is expected to hold the largest share of the commercial industrial PV inverter market, followed by North America and Europe. China is expected to be the largest market in the Asia Pacific region, followed by India and Japan. The United States is expected to be the largest market in North America, followed by Canada and Mexico. Germany is expected to be the largest market in Europe, followed by the United Kingdom and France. The Middle East and Africa region is expected to witness significant growth in the commercial industrial PV inverter market, driven by the increasing demand for renewable energy sources in the region. Key players in the commercial industrial PV inverter market include ViZn Energy, Huawei, Sungrow, SolarEdge Technologies, Siemens, KACO new energy, Fronius, TMEIC, Ingeteam, ABB, Schneider Electric, SMA Solar Technology, Enphase Energy, Kwasi, and Delta Electronics. Recent developments include: , Recent developments in the Commercial Industrial PV Inverter Market indicate a robust growth trajectory, driven by increasing demand for renewable energy solutions. Companies like Huawei and Sungrow have expanded their product lines to enhance efficiency and scalability. ViZn Energy has been prominent in energy storage advancements, integrating their systems with commercial solar applications. In a notable trend, Siemens has been focusing on digitalizing energy solutions, while ABB and Schneider Electric are advancing their inverter technologies to support larger industrial setups., Mergers and acquisitions have also shaped the landscape, with companies consolidating to improve technological capabilities and market reach. Though no specific deals from the mentioned companies have been widely reported, the competitive landscape remains dynamic. TMEIC and Fronius continue to innovate in the grid-tied inverter systems, responding to challenges posed by market demands. The growth in market valuation for these companies is attributed to increasing investments in solar infrastructure and supportive governmental policies. This momentum underscores a collective move towards a more sustainable energy future, with companies adapting quickly to the evolving demands of the commercial and industrial sectors. Opportunities for partnership and growth remain abundant, highlighting a vibrant market outlook., Commercial Industrial PV Inverter Market Segmentation Insights. Key drivers for this market are: Rising demand for renewable energy, Technological advancements in inverter efficiency; Growing electric vehicle charging infrastructure; Government incentives for solar investments; Expansion in developing markets. Potential restraints include: Technological advancements, Government incentives; Growing renewable energy demand; Decreasing costs; Energy efficiency regulations.

  9. Residential Solar PV Inverter Market Analysis by Type (String Inverter,...

    • futuremarketinsights.com
    html, pdf
    Updated May 9, 2023
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    Future Market Insights (2023). Residential Solar PV Inverter Market Analysis by Type (String Inverter, Micro-Inverter), Application (Single Phase, Three Phase), & Region | Forecast 2023 to 2033 [Dataset]. https://www.futuremarketinsights.com/reports/residential-solar-pv-inverter-market
    Explore at:
    pdf, htmlAvailable download formats
    Dataset updated
    May 9, 2023
    Dataset provided by
    Authors
    Future Market Insights
    License

    https://www.futuremarketinsights.com/privacy-policyhttps://www.futuremarketinsights.com/privacy-policy

    Time period covered
    2023 - 2033
    Area covered
    Worldwide
    Description

    The globalresidential solar PV inverter marketis poised to increase at a consistent CAGR of5.2%.The market is projected to reachUS$ 6,566.3 millionby 2033 fromUS$ 3,955.1 millionin 2023.

    AttributesDetails
    Residential Solar PV Inverter Industry CAGR (2023 to 2033)5.2%
    Residential Solar PV Inverter Industry Size (2023)US$ 3,955.1 million
    Residential Solar PV Inverter Market Size (2033)US$ 6,566.3 million
    Residential Solar PV Inverter Industry AttractionCost-effective, reliability, and durability

    2018 to 2022 Residential Solar PV Inverter Market Outlook Compared to 2023 to 2033 Forecast

    2018US$ 3,158.71 million
    2023US$ 3,955.1 million
    2022US$ 3,781.2 million
    2033US$ 6,566.3 million
    YearMarket Size
    2025US$ 4,377.12 million
    2028US$ 5,096.08 million
    2033US$ 6,566.3 million

    Segment-wise Analysis

    CategoryType
    Top SegmentMicro-inverter
    Market Share (2023)43%
    CategoryApplication
    Top SegmentThree Phase
    Market Share (2023)59%

    Three-phase Segment to Account for Sizeable Market Share

    SegmentThree Phase
    Market Share (2023)59%
    Market Size (2023)US$ 2,333.51 million
    Market Size (2033)US$ 3,874.12 million
    SegmentMicro-inverter
    Market Share (2023)43%
    Market Size (2023)US$ 1,700.69 million
    Market Size (2033)US$ 2,823.50 million

    Regional Insights: Micro-level Data-packed Insights

    CountryThe United States
    Value Share (2023)23%
    Market Size (2023)US$ 909.67 million
    Market Size (2033)US$ 1,510.25 million
    CountryGermany
    Value Share (2023)3.6%
    Market Size (2023)US$ 142.38 million
    Market Size (2033)US$ 236.39 million
    CountryJapan
    Value Share (2023)5.8%
    Market Size (2023)US$ 229.39 million
    Market Size (2033)US$ 380.8 million
    CountryAustralia
    Value Share (2023)1.5%
    Market Size (2023)US$ 59.33 million
    Market Size (2033)US$ 98.49 million

    Country-wise CAGR for Residential Solar PV Inverter Market Forecast

    CountryForecast CAGR (2023 to 2033)
    China6.4%
    India6.9%
    The United Kingdom3.5%

  10. m

    South America Solar PV Inverters Market Size & Share Analysis - Industry...

    • mordorintelligence.com
    pdf,excel,csv,ppt
    Updated Jun 24, 2025
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    Mordor Intelligence (2025). South America Solar PV Inverters Market Size & Share Analysis - Industry Research Report - Growth Trends [Dataset]. https://www.mordorintelligence.com/industry-reports/south-america-solar-pv-inverters-market
    Explore at:
    pdf,excel,csv,pptAvailable download formats
    Dataset updated
    Jun 24, 2025
    Dataset authored and provided by
    Mordor Intelligence
    License

    https://www.mordorintelligence.com/privacy-policyhttps://www.mordorintelligence.com/privacy-policy

    Time period covered
    2020 - 2030
    Area covered
    South America
    Description

    The South American Solar PV Inverters Market is Segmented by Inverter Type (Central Inverters, String Inverters, and Micro Inverters), Application (Residential, Commercial and Industrial (C&I), and Utility-scale), and Geography (Brazil, Argentina, Chile, Rest of South America). The report offers the market size and forecasts for solar PV inverters in revenue (in USD billion) for all the above segments.

  11. m

    Europe Solar Inverters Market - Size, Share & Manufacturers

    • mordorintelligence.com
    pdf,excel,csv,ppt
    Updated Dec 16, 2024
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    Mordor Intelligence (2024). Europe Solar Inverters Market - Size, Share & Manufacturers [Dataset]. https://www.mordorintelligence.com/industry-reports/europe-solar-inverter-market
    Explore at:
    pdf,excel,csv,pptAvailable download formats
    Dataset updated
    Dec 16, 2024
    Dataset authored and provided by
    Mordor Intelligence
    License

    https://www.mordorintelligence.com/privacy-policyhttps://www.mordorintelligence.com/privacy-policy

    Time period covered
    2019 - 2030
    Area covered
    Europe
    Description

    The Europe Solar Inverters Market Report is Segmented by Inverter Type (Central Inverters, String Inverters, and Micro Inverters), Application (Residential, Commercial and Industrial, and Utility-Scale), and Geography (Germany, United Kingdom, Italy, France, Spain, Nordic Countries, Turkey, Russia, and Rest of Europe). The Report Offers the Market Size in Value Terms in USD for all the Abovementioned Segments.

  12. S

    Solar PV Inverter Industry Report

    • datainsightsmarket.com
    doc, pdf, ppt
    Updated Dec 4, 2024
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    Data Insights Market (2024). Solar PV Inverter Industry Report [Dataset]. https://www.datainsightsmarket.com/reports/solar-pv-inverter-industry-3387
    Explore at:
    doc, ppt, pdfAvailable download formats
    Dataset updated
    Dec 4, 2024
    Dataset authored and provided by
    Data Insights Market
    License

    https://www.datainsightsmarket.com/privacy-policyhttps://www.datainsightsmarket.com/privacy-policy

    Time period covered
    2025 - 2033
    Area covered
    Global
    Variables measured
    Market Size
    Description

    The size of the Solar PV Inverter Industry market was valued at USD 13.68 Million in 2023 and is projected to reach USD 18.91 Million by 2032, with an expected CAGR of 4.73% during the forecast period. The solar photovoltaic (PV) inverter sector represents a vital component of the renewable energy industry, concentrating on the technology that transforms direct current (DC) produced by solar panels into alternating current (AC), suitable for integration with the electrical grid and household devices. This sector is witnessing significant expansion, propelled by the rising implementation of photovoltaic systems in response to the worldwide commitment to clean energy and efforts to combat climate change. Solar PV inverters play a critical role in enhancing the performance and efficiency of solar energy systems, which range from residential installations to extensive utility-scale projects. Innovations in inverter technology, including the emergence of string inverters, microinverters, and central inverters, are improving system reliability, energy output, and compatibility with smart grid technologies. Furthermore, the market is supported by favorable government initiatives, financial incentives, and an increasing focus on sustainable energy practices. Nevertheless, the industry encounters challenges such as intense price competition, disruptions in the supply chain, and the necessity for ongoing innovation to adapt to changing energy requirements and regulatory frameworks. In spite of these obstacles, the solar PV inverter market is set for substantial growth, fueled by continuous investments in solar infrastructure and advancements in inverter technology, which are essential for facilitating the global shift towards renewable energy. Recent developments include: In April 2022, SMA Solar Technology AG, a German inverter manufacturer, launched a new line of four inverters with power ratings of 12kW, 15kW, 20kW, and 25kW for use in rooftop PV systems up to 135kW in size., In May 2022, Fimer Spa, an Italy-headquartered solar PV inverter manufacturer, supplied 1 Mega Volt Ampere (MVA) inverters to a solar-plus-storage project with an 18MWh battery energy storage system in Gujarat, India. The company supplied its inverters to the Integrated Solar Energy Project in Modhera. The project belonged to Indian solar PV engineering, procurement, and construction (EPC) solution provider Mahindra Susten Pvt. Ltd and was awarded by the state's utility, Gujarat Power Corporation Limited (GPCL).. Key drivers for this market are: 4., Supportive Government Initiatives4.; Investment in Electrification Using Solar Energy. Potential restraints include: 4., Lack of General Awareness, Infrastructure Development Costs, and Recent Subsidy Cuts on Solar Panels. Notable trends are: Central Inverters Segment Expected to Dominate the Market.

  13. Global PV inverter market size 2010-2016

    • statista.com
    Updated Jun 30, 2012
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    Statista (2012). Global PV inverter market size 2010-2016 [Dataset]. https://www.statista.com/statistics/278227/global-pv-inverter-market-size/
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    Dataset updated
    Jun 30, 2012
    Dataset authored and provided by
    Statistahttp://statista.com/
    Time period covered
    2010 - 2012
    Area covered
    Worldwide
    Description

    This graph displays the projected global PV inverter market size from 2010 through 2016. THe PV inverter market was sized at ************ euros in 2010. Power inverters are used to convert DC power to AC power.

  14. PV Inverter Market size was USD 25512.2 million in 2024!

    • cognitivemarketresearch.com
    pdf,excel,csv,ppt
    Updated May 15, 2025
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    Cognitive Market Research (2025). PV Inverter Market size was USD 25512.2 million in 2024! [Dataset]. https://www.cognitivemarketresearch.com/pv-inverter-market-report
    Explore at:
    pdf,excel,csv,pptAvailable download formats
    Dataset updated
    May 15, 2025
    Dataset authored and provided by
    Cognitive Market Research
    License

    https://www.cognitivemarketresearch.com/privacy-policyhttps://www.cognitivemarketresearch.com/privacy-policy

    Time period covered
    2021 - 2033
    Area covered
    Global
    Description

    According to Cognitive Market Research, the global PV Inverter market size will be USD 25512.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 11.80% from 2024 to 2031.

    North America PV Inverter market held 40% of the global revenue, with a market size of USD 10204.88 million in 2024. It will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031.
    Europe PV Inverter market held 30% of the global revenue with market size of USD 7653.66 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.3% from 2024 to 2031
    Asia Pacific PV Inverter market held 23% of global revenue, with a market size of USD 5867.81 million in 2024, and will grow at a compound annual growth rate (CAGR) of 13.8% from 2024 to 2031.
    Latin America's PV Inverter market held 5% of the global revenue with a market size of USD 1275.61 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.2% from 2024 to 2031.
    Middle East and Africa PV Inverter market held 2% of the global revenue with a market size of USD 510.24 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.5% from 2024 to 2031.
    The single-phase segment is set to rise as it is suitable for single-phase AC grid connections, making it ideal for smaller solar systems in urban and suburban settings.
    Growth is fuelled by increased urbanization and industrialization, growing awareness of climate change, and rising demand for energy independence.
    

    Rise in Government Incentives in 120 Words to Provide Viable Market Output

    The PV Inverter market is experiencing significant growth due to the rise in government incentives. These incentives typically include subsidies, tax credits, feed-in tariffs, and grants that encourage the installation of solar photovoltaic (PV) systems. Governments worldwide are increasingly prioritizing renewable energy as part of their climate change mitigation strategies, leading to heightened support for solar power generation. By offering financial incentives, governments aim to reduce the upfront costs associated with PV system installations, making solar energy more appealing to consumers and businesses. Consequently, this incentive-driven demand stimulates growth in the PV inverter market as it serves as a crucial component in converting solar energy into usable electricity.

    For instance, in August 2022, the U.S. government propounded the Inflation Reduction Act, which allotted USD 369 billion to promote the renewable energy sector.

    (Source: https://www.whitehouse.gov/cleanenergy/inflation-reduction-act-guidebook/)

    Reduction in Installation Costs to Propel Market Growth
    

    The PV Inverter market is experiencing growth due to the reduction in installation costs. As advancements and economies of scale are achieved, the manufacturing and installation costs of PV inverters decrease. This reduction in costs makes solar energy more financially attractive for consumers, businesses, and utilities, driving increased adoption of PV systems. Additionally, innovations in installation techniques and streamlined regulatory processes contribute to lower overall installation costs. As a result, the market for PV inverters grows as more individuals and organizations seek to take advantage of cost-effective solar energy solutions.

    For instance, on the basis of the Solar Energy Industries Association, prices for solar PV installations have fallen 43% over the last ten years in California, U.S.

    (Source: https://www.seia.org/solar-industry-research-data)

    Market Restraints of the PV Inverter

    Occurrence of Technical Issues to Restrict Market Growth
    

    The PV Inverter market faces a challenge due to the occurrence of technical issues. These challenges arise from factors such as manufacturing defects, component failures, and software glitches, leading to operational inefficiencies and system downtime. Technical issues can compromise the reliability and performance of photovoltaic inverters, impacting energy production and overall system functionality. Addressing these concerns requires continuous advancements in quality control, rigorous testing procedures, and prompt resolution of emerging issues to ensure the seamless and reliable operation of solar power systems.

    Impact of COVID-19 on the PV Inverter Market

    The PV Inverter market faced challenges due to the COVID-19 pandemic. Lockdowns, supply chain interruptions,...

  15. Photovoltaic (PV) Inverter Market Analysis APAC, Europe, North America,...

    • technavio.com
    Updated Jun 15, 2024
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    Technavio (2024). Photovoltaic (PV) Inverter Market Analysis APAC, Europe, North America, Middle East and Africa, South America - China, US, India, Japan, Vietnam - Size and Forecast 2024-2028 [Dataset]. https://www.technavio.com/report/photovoltaic-inverter-market-industry-analysis
    Explore at:
    Dataset updated
    Jun 15, 2024
    Dataset provided by
    TechNavio
    Authors
    Technavio
    Time period covered
    2021 - 2025
    Area covered
    United States, Global
    Description

    Snapshot img

    Photovoltaic (PV) Inverter Market Size and Forecast 2024-2028

    The photovoltaic (PV) inverter market size estimates the market to reach by USD 3.97 billion, at a CAGR of 6.78% between 2023 and 2028.APAC is expected to account for 47% of the growth contribution to the global market during this period. In 2018, the string segment was valued at USD 4.05 billion and has demonstrated steady growth since then.

        Report Coverage
    
    
        Details
    
    
    
    
        Base year
    
    
        2023
    
    
    
    
        Historic period
    
        2018-2022
    
    
    
        Forecast period
    
    
        2024-2028
    
    
    
        Market structure
        Fragmented
    
    
    
        Market growth 2024-2028
    
    
        USD 3965.4 million
    
    
    
    
    
    
    The market is experiencing significant growth, driven by the surging demand for renewable energy and the development of smart cities worldwide. The increasing adoption of solar energy systems in both residential and commercial sectors is fueling market expansion. However, high initial investment and maintenance costs for solar PV systems pose a substantial challenge. These expenses can hinder market penetration, particularly in regions with less developed renewable energy infrastructure. To capitalize on market opportunities, companies must focus on reducing costs through technological advancements and economies of scale.
    Additionally, strategic partnerships and collaborations can help offset high upfront costs and improve market access. By addressing these challenges and continuing to innovate, market players can effectively navigate the competitive landscape and contribute to the sustainable energy transition.
    

    What will be the Size of the Photovoltaic (PV) Inverter Market during the forecast period?

    Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
    Request Free Sample

    The market is characterized by continuous evolution and dynamic market activities. These inverters play a crucial role in converting direct current (DC) electricity generated by solar panels into alternating current (AC) suitable for grid connection or off-grid applications. String inverter topology, a common design, facilitates centralized power conditioning and reduces system complexity. Islanding protection ensures safe operation during grid outages, while voltage regulation maintains consistent output levels. Inverter heat dissipation is essential for efficient operation, and compatibility with various solar panel types is a key consideration. Inverter efficiency ratings are a significant factor in determining overall system performance.

    Grid-tied inverters synchronize frequency and ride through faults, while anti-islanding techniques prevent unintended grid connection. Ground fault detection, reactive power compensation, and harmonic distortion mitigation are essential features for grid compliance. Data logging capabilities enable system monitoring and performance analysis. Solar energy harvesting applications require remote diagnostics for optimal system management. Microinverter technology offers decentralized power conditioning and improved panel-level efficiency. The market's unfolding patterns reflect ongoing advancements in power electronics, thermal management, and energy storage integration. These developments contribute to increased system efficiency, reliability, and cost-effectiveness. The photovoltaic inverter market remains an exciting and dynamic field, with continuous innovation shaping its future.

    How is this Photovoltaic (PV) Inverter Industry segmented?

    The photovoltaic (PV) inverter industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

    Product
    
      String
      Central
      Micro
    
    
    Type
    
      On-grid
      Off-grid
    
    
    Geography
    
      North America
    
        US
    
    
      APAC
    
        China
        India
        Japan
        Vietnam
    
    
      Rest of World (ROW)
    

    By Product Insights

    The string segment is estimated to witness significant growth during the forecast period.

    The market experienced significant growth in 2023, with string inverters holding the largest market share. String inverters convert direct current (DC) electricity generated by solar panels into alternating current (AC) for residential and commercial applications. The increasing popularity of renewable energy sources and decreasing solar panel costs have fueled this market expansion. Efficient power conditioning units ensure optimal performance by managing thermal issues and regulating voltage levels. Overcurrent protection and DC-link voltage control safeguard the system from potential hazards. Inverter heat dissipation and solar panel compatibility are crucial considerations for maintaining system efficiency.

    Grid-tied inverters

  16. E

    Europe Solar PV Inverters Market Report

    • datainsightsmarket.com
    doc, pdf, ppt
    Updated Nov 26, 2024
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    Data Insights Market (2024). Europe Solar PV Inverters Market Report [Dataset]. https://www.datainsightsmarket.com/reports/europe-solar-pv-inverters-market-3393
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    ppt, doc, pdfAvailable download formats
    Dataset updated
    Nov 26, 2024
    Dataset authored and provided by
    Data Insights Market
    License

    https://www.datainsightsmarket.com/privacy-policyhttps://www.datainsightsmarket.com/privacy-policy

    Time period covered
    2025 - 2033
    Area covered
    Europe
    Variables measured
    Market Size
    Description

    The size of the Europe Solar PV Inverters Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 6.00">> 6.00% during the forecast period. The market for solar photovoltaic (PV) inverters in Europe is witnessing significant expansion, propelled by the region's strong dedication to renewable energy and sustainability initiatives. As European nations work diligently to fulfill rigorous climate objectives and shift towards more sustainable energy sources, solar PV systems have become a crucial component of their energy policies. Solar inverters play a vital role by converting the direct current (DC) produced by solar panels into alternating current (AC) suitable for grid use, thereby enhancing the overall efficiency and functionality of these systems. Technological progress and innovation are key factors driving this market forward. The emergence of smart inverters, which offer features such as improved grid stability, real-time monitoring capabilities, and compatibility with energy storage solutions, is significantly increasing demand. Furthermore, the decreasing costs associated with solar technology, along with government incentives like subsidies, tax credits, and feed-in tariffs, are rendering solar PV systems more accessible and appealing to both residential and commercial sectors. Nevertheless, the market encounters obstacles, including inconsistent regulatory frameworks across various European nations and the requirement for considerable upfront investment. However, robust policy backing, heightened environmental consciousness, and advancements in inverter technology are setting the stage for sustained growth and progress in the European solar PV inverter market. These elements collectively highlight Europe’s commitment to strengthening its renewable energy framework and achieving enduring sustainability objectives. Recent developments include: June 2022: SMA Solar Technology AG announced plans to build a solar inverter manufacturing facility in Niestetal, Germany. The new gigawatt factory is a part of the company's target to double the production capacity from 21 GW as of 2021 to 40 GW by 2024. The construction is expected to be started by the end of 2022., April 2022: SMA Solar Technology AG launched four new models of solar inverters for commercial and residential PV systems with a power output of up to 135 kW. The new Sunny Tripower-X models, with ratings 12 kW, 15 kW, 20 kW, and 25 kW, feature an exclusive system manager, three independent MPP trackers, and six-string inputs. The inverters provide grid-compliant power control of entire systems and over-dimensioning PV systems by up to 150%.. Key drivers for this market are: 4., Increasing Offshore Oil and Gas Exploration and Production Activities4.; Growing Demand for Energy. Potential restraints include: 4., High Upfront Costs. Notable trends are: Central Inverters Expected to Dominate the Market.

  17. Solar Inverte Market will grow at a CAGR of 6.00% from 2024 to 2031.

    • cognitivemarketresearch.com
    pdf,excel,csv,ppt
    Updated Apr 30, 2025
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    Cognitive Market Research (2025). Solar Inverte Market will grow at a CAGR of 6.00% from 2024 to 2031. [Dataset]. https://www.cognitivemarketresearch.com/solar-inverter-market-report
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    pdf,excel,csv,pptAvailable download formats
    Dataset updated
    Apr 30, 2025
    Dataset authored and provided by
    Cognitive Market Research
    License

    https://www.cognitivemarketresearch.com/privacy-policyhttps://www.cognitivemarketresearch.com/privacy-policy

    Time period covered
    2021 - 2033
    Area covered
    Global
    Description

    According to Cognitive Market Research, the global Solar Inverter market size is USD 10512.22 million in 2024 and will expand at a compound annual growth rate (CAGR) of 6.00% from 2024 to 2031.

    North America held the major market of more than 40% of the global revenue with a market size of USD 4204.89 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.
    Europe accounted for a share of over 30% of the global market size of USD 3153.67 million.
    Asia Pacific held the market of around 23% of the global revenue with a market size of USD 2417.81 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.
    Latin America market of more than 5% of the global revenue with a market size of USD 525.61 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.
    Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 210.24 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031.
    The Solar Panel held the highest Solar Inverter market revenue share in 2024.
    

    Market Dynamics of Solar Inverter Market

    Key Drivers of Solar Inverter Market

    Increasing Demand for Solar Energy to Increase the Demand Globally
    

    The solar inverter market is being driven by the rising global demand for solar energy. As the world shifts towards sustainable and renewable energy sources, solar power has emerged as a key player in the energy transition. Factors such as increasing environmental concerns, government initiatives to promote clean energy, and technological advancements in solar panel efficiency have led to a surge in solar installations worldwide. Solar inverters play a crucial role in this ecosystem by converting the DC power generated by solar panels into usable AC power for residential, commercial, and industrial applications. The growing adoption of solar energy across various sectors is expected to continue driving the demand for solar inverters in the coming years.

    Technological Advancements in Solar Inverter Design to Propel Market Growth
    

    Another key driver in the solar inverter market is the continuous technological advancements in solar inverter design. Manufacturers are increasingly focusing on developing advanced inverters that offer higher efficiency, reliability, and compatibility with different solar panel technologies. For example, the integration of maximum power point tracking (MPPT) algorithms in inverters helps optimize power output from solar panels under varying weather conditions. Moreover, advancements in power electronics and semiconductor technology have led to the development of compact and lightweight inverters that are easier to install and maintain. These technological innovations not only improve the performance of solar inverters but also reduce overall system costs, making solar energy more accessible to a wider range of consumers.

    Restraint Factors Of Solar Inverter Market

    High Initial Investment Costs to Limit the Sales
    

    One of the key restraints in the solar inverter market is the high initial investment costs associated with solar power systems. While the long-term benefits of solar energy are well-known, the upfront costs of purchasing and installing solar panels and inverters can be prohibitive for many consumers and businesses. This is particularly true in developing countries or regions with limited access to financing options for renewable energy projects. The high initial investment costs can deter potential customers from investing in solar power systems, thus limiting the growth of the solar inverter market.

    Trend Factors for the Solar Inverter Market

    The future of solar inverters is driven by intelligent, hybrid, and safe solutions. 
    

    With the rise of intelligent inverters that have built-in connection, real-time monitoring, and AI-powered diagnostics to improve system performance and reliability, the solar inverter industry is undergoing a dynamic change in 2025. The world's need for energy independence and stability in areas with off-grid or unreliable grids is being met by the increasing integration of hybrid systems that combine solar with battery storage. To lower system costs, utility-scale projects are using high-capacity, modular inverter solutions, while residential customers prefer tiny mic...

  18. v

    Standalone PV Inverter Market Size, Share & Growth Report, 2033

    • valuemarketresearch.com
    Updated Jan 24, 2024
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    Value Market Research (2024). Standalone PV Inverter Market Size, Share & Growth Report, 2033 [Dataset]. https://www.valuemarketresearch.com/report/standalone-pv-inverter-market
    Explore at:
    electronic (pdf), ms excelAvailable download formats
    Dataset updated
    Jan 24, 2024
    Dataset authored and provided by
    Value Market Research
    License

    https://www.valuemarketresearch.com/privacy-policyhttps://www.valuemarketresearch.com/privacy-policy

    Time period covered
    2025 - 2033
    Area covered
    Global
    Description

    Global Standalone PV Inverter Market is poised for a significant growth, with market size projected to surge from USD 2.54 Billion in 2023 to USD 6.06 Billion by 2032, showcasing a robust Compound Annual Growth Rate (CAGR) of 10.14% during the forecast period.

    The Standalone PV Inverter market size to cross USD 6.06 Billion by 2032. [https://edison.valuemarketresearch.com//uploads/report_images/V

  19. m

    Solar PV Inverter Market Size, Share & Trends Analysis 2033

    • marketresearchintellect.com
    Updated Jul 6, 2025
    + more versions
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    Market Research Intellect (2025). Solar PV Inverter Market Size, Share & Trends Analysis 2033 [Dataset]. https://www.marketresearchintellect.com/product/solar-pv-inverter-market/
    Explore at:
    Dataset updated
    Jul 6, 2025
    Dataset authored and provided by
    Market Research Intellect
    License

    https://www.marketresearchintellect.com/privacy-policyhttps://www.marketresearchintellect.com/privacy-policy

    Area covered
    Global
    Description

    Dive into Market Research Intellect's Solar PV Inverter Market Report, valued at USD 12.3 billion in 2024, and forecast to reach USD 22.8 billion by 2033, growing at a CAGR of 8.5% from 2026 to 2033.

  20. D

    Solar Inverter Market Report | Global Forecast From 2025 To 2033

    • dataintelo.com
    csv, pdf, pptx
    Updated Jan 7, 2025
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    Dataintelo (2025). Solar Inverter Market Report | Global Forecast From 2025 To 2033 [Dataset]. https://dataintelo.com/report/global-solar-inverter-market
    Explore at:
    pptx, csv, pdfAvailable download formats
    Dataset updated
    Jan 7, 2025
    Authors
    Dataintelo
    License

    https://dataintelo.com/privacy-and-policyhttps://dataintelo.com/privacy-and-policy

    Time period covered
    2024 - 2032
    Area covered
    Global
    Description

    Solar Inverter Market Outlook



    The global solar inverter market size was valued at approximately $7.8 billion in 2023 and is expected to reach around $15.6 billion by 2032, reflecting a robust Compound Annual Growth Rate (CAGR) of 8.2% during the forecast period. This impressive growth can be attributed to the increasing focus on renewable energy sources, technological advancements, and supportive government policies promoting solar energy adoption across various sectors.



    One of the primary growth factors driving the solar inverter market is the global shift towards renewable energy as a means to combat climate change and reduce dependency on fossil fuels. Governments worldwide are offering incentives, subsidies, and favorable policies to encourage the adoption of solar energy. For instance, the European Union has set ambitious targets for renewable energy, aiming to achieve a 32% share of renewable energy in total energy consumption by 2030. Such policies are creating a significant demand for solar inverters, which are essential for converting solar power into usable electricity.



    Another crucial growth factor is the rapid technological advancements in solar inverter design and functionality. Innovations such as smart inverters, which can manage energy flows and communicate with the grid, are enhancing the efficiency and reliability of solar power systems. These advancements not only improve the performance of solar installations but also lower the overall cost of solar energy, making it more competitive with traditional energy sources. Furthermore, the integration of advanced features such as real-time monitoring and predictive maintenance is increasing the appeal of solar inverters among end-users.



    The rising awareness about environmental sustainability among consumers and businesses is also propelling the growth of the solar inverter market. More individuals and organizations are investing in solar energy systems to reduce their carbon footprint and achieve energy independence. This trend is particularly evident in the residential and commercial sectors, where solar installations are becoming more commonplace. Additionally, the declining cost of solar panels and inverters is making solar energy more accessible to a broader audience, further driving market growth.



    Photovoltaic (PV) Inverters play a pivotal role in the solar energy ecosystem by converting the direct current (DC) generated by solar panels into alternating current (AC) that can be used by household appliances and fed into the grid. These inverters are crucial for ensuring the efficiency and reliability of solar power systems, as they not only convert energy but also optimize the power output from solar panels. With the increasing adoption of solar energy, the demand for efficient and reliable PV inverters is on the rise. Manufacturers are focusing on developing advanced PV inverters that incorporate features like maximum power point tracking (MPPT), which enhances the energy yield from solar installations. As technology evolves, PV inverters are becoming more compact and efficient, making them an integral component of modern solar solutions.



    Regionally, Asia Pacific is expected to dominate the solar inverter market during the forecast period, primarily due to the rapid industrialization and urbanization in countries like China and India. Both countries are investing heavily in renewable energy infrastructure to meet their growing energy demands and reduce pollution levels. North America and Europe are also significant markets, driven by strong government support and high consumer awareness about renewable energy. In contrast, regions like Latin America and the Middle East & Africa are emerging markets with substantial growth potential, driven by increasing investments in solar energy projects.



    Product Type Analysis



    Central inverters are a major segment within the solar inverter market, primarily used in large-scale solar installations such as utility-scale projects and large industrial facilities. These inverters are highly efficient and cost-effective for high-capacity power generation, making them a popular choice for large solar farms. Despite their efficiency, central inverters pose some challenges, such as potential power losses over long cable distances and difficulty in scaling down for smaller applications. However, their reliability and ability to handle high power outputs ensure their continued relevance in the market.



    St

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Mordor Intelligence (2025). Solar PV Inverter Market Size, Growth & Industry Analysis | 2030 [Dataset]. https://www.mordorintelligence.com/industry-reports/solar-pv-inverters-market

Solar PV Inverter Market Size, Growth & Industry Analysis | 2030

Explore at:
pdf,excel,csv,pptAvailable download formats
Dataset updated
Jul 7, 2025
Dataset authored and provided by
Mordor Intelligence
License

https://www.mordorintelligence.com/privacy-policyhttps://www.mordorintelligence.com/privacy-policy

Time period covered
2020 - 2030
Area covered
Global
Description

The Solar PV Inverter Market Report is Segmented by Inverter Type (Central Inverters, String Inverters, Micro Inverters, and Hybrid/Battery-Ready Inverters), Phase (Single-Phase and Three-Phase), Connection Type (On-Grid and Off-Grid), Application (Residential, Commercial and Industrial, and Utility-Scale), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa).

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