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Solar Inverter-Global Market Insights and Sales Trends 2025
Synopsis
Solar Inverter are widely accepted owing to its property of instantaneous conversion of DC power input to AC current while connected to on-grid system.
The global Solar Inverter market size is expected to reach US$ 26650 million by 2029, growing at a CAGR of 8.9% from 2023 to 2029. The market is mainly driven by the significant applications of Solar Inverter in various end use industries. The expanding demands from the Residential, Commercial and Utility,, are propelling Solar Inverter market. Central Solar Inverter, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the String Solar Inverter segment is estimated at % CAGR for the next seven-year period.
It is expected that global demand for photovoltaic products will remain high in the next few years. According to our PV & Solar Research Center, by the end of 2022, the global cumulative installed photovoltaic power generation capacity is about 1180 GW. According to the data of China Photovoltaic Industry Association, the global newly installed photovoltaic capacity in 2022 is about 230 GW, and this number in 2023 is predicted to be 280-330 GW. According to the data of the Ministry of Industry and Information Technology, the total output value of China's photovoltaic industry exceeded 1.4 trillion yuan in 2022. From the perspective of production value, mainland China is still the global center of the PV industry. According to the International Energy Agency, China market share in all key products of the supply chain have exceeded 80%. Among them, the production capacity of silicon wafers, solar cells, and components accounts for as high as 98%, 85% and 77%, respectively. According to the data released by the European Photovoltaic Association, 27 EU countries gained a new PV installed capacity of 41.4 GW in 2022. According to the report of the US Solar Energy Industries Association (SEIA), the US held a new PV installed capacity of less than 19 GW in 2022. But it is estimated that from 2023, the average annual growth rate of new photovoltaic installed capacity will exceed 21%. In terms of Japan, based on data from Fitch and the US Energy Information Administration (EIA), in 2022, Japan's newly installed photovoltaic capacity was 3.373 GW.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Solar Inverter, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Solar Inverter market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Solar Inverter market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Solar Inverter sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Solar Inverter covered in this report include ABB, SMA Solar Technology, Canadian Solar, SolarEdge Technologies, SunPower, Delta Electronics, Solectria Renewables, Sineng Electric and Hitachi Hi-Rel Power Electronics, etc.
The global Solar Inverter market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
ABB
SMA Solar Technology
Canadian Solar
SolarEdge Technologies
SunPower
Delta Electronics
Solectria Renewables
Sineng Electric
Hitachi Hi-Rel Power Electronics
Power electronics
Global Solar Inverter market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Solar Inverter market, Segment by Type:
Central Solar Inverter
String Solar Inverter
Micro Solar Inverter
Global Solar Inverter market, by Application
Residential
Commercial
Utility
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Solar Inverter manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Solar Inverter in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Solar Inverter are widely accepted owing to its property of instantaneous conversion of DC power input to AC current while connected to on-grid system.
The global Solar Inverter market size is expected to reach US$ 26650 million by 2029, growing at a CAGR of 8.9% from 2023 to 2029. The market is mainly driven by the significant applications of Solar Inverter in various end use industries. The expanding demands from the Residential, Commercial and Utility,, are propelling Solar Inverter market. Central Solar Inverter, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the String Solar Inverter segment is estimated at % CAGR for the next seven-year period.
It is expected that global demand for photovoltaic products will remain high in the next few years. According to our PV & Solar Research Center, by the end of 2022, the global cumulative installed photovoltaic power generation capacity is about 1180 GW. According to the data of China Photovoltaic Industry Association, the global newly installed photovoltaic capacity in 2022 is about 230 GW, and this number in 2023 is predicted to be 280-330 GW. According to the data of the Ministry of Industry and Information Technology, the total output value of China's photovoltaic industry exceeded 1.4 trillion yuan in 2022. From the perspective of production value, mainland China is still the global center of the PV industry. According to the International Energy Agency, China market share in all key products of the supply chain have exceeded 80%. Among them, the production capacity of silicon wafers, solar cells, and components accounts for as high as 98%, 85% and 77%, respectively. According to the data released by the European Photovoltaic Association, 27 EU countries gained a new PV installed capacity of 41.4 GW in 2022. According to the report of the US Solar Energy Industries Association (SEIA), the US held a new PV installed capacity of less than 19 GW in 2022. But it is estimated that from 2023, the average annual growth rate of new photovoltaic installed capacity will exceed 21%. In terms of Japan, based on data from Fitch and the US Energy Information Administration (EIA), in 2022, Japan's newly installed photovoltaic capacity was 3.373 GW.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Solar Inverter, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Solar Inverter market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Solar Inverter market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Solar Inverter sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Solar Inverter covered in this report include ABB, SMA Solar Technology, Canadian Solar, SolarEdge Technologies, SunPower, Delta Electronics, Solectria Renewables, Sineng Electric and Hitachi Hi-Rel Power Electronics, etc.
The global Solar Inverter market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
ABB
SMA Solar Technology
Canadian Solar
SolarEdge Technologies
SunPower
Delta Electronics
Solectria Renewables
Sineng Electric
Hitachi Hi-Rel Power Electronics
Power electronics
Global Solar Inverter market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Solar Inverter market, Segment by Type:
Central Solar Inverter
String Solar Inverter
Micro Solar Inverter
Global Solar Inverter market, by Application
Residential
Commercial
Utility
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Solar Inverter manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Solar Inverter in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Index1 Solar Inverter Market Overview
1.1 Solar Inverter Product Overview
1.2 Solar Inverter Market Segment by Type
1.2.1 Central Solar Inverter
1.2.2 String Solar Inverter
1.2.3 Micro Solar Inverter
1.3 Global Solar Inverter Market Size by Type
1.3.1 Global Solar Inverter Market Size Overview by Type (2018-2029)
1.3.2 Global Solar Inverter Historic Market Size Review by Type (2018-2023)
1.3.3 Global Solar Inverter Forecasted Market Size by Type (2024-2029)
1.4 Key Regions Market Size Segment by Type
1.4.1 North America Solar Inverter Sales Breakdown by Type (2018-2023)
1.4.2 Europe Solar Inverter Sales Breakdown by Type (2018-2023)
1.4.3 Asia-Pacific Solar Inverter Sales Breakdown by Type (2018-2023)
1.4.4 Latin America Solar Inverter Sales Breakdown by Type (2018-2023)
1.4.5 Middle East and Africa Solar Inverter Sales Breakdown by Type (2018-2023)
2 Global Solar Inverter Market Competition by Company
2.1 Global Top Players by Solar Inverter Sales (2018-2023)
2.2 Global Top Players by Solar Inverter Revenue (2018-2023)
2.3 Global Top Players by Solar Inverter Price (2018-2023)
2.4 Global Top Manufacturers Solar Inverter Manufacturing Base Distribution, Sales Area, Product Type
2.5 Solar Inverter Market Competitive Situation and Trends
2.5.1 Solar Inverter Market Concentration Rate (2018-2023)
2.5.2 Global 5 and 10 Largest Manufacturers by Solar Inverter Sales and Revenue in 2022
2.6 Global Top Manufacturers by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Solar Inverter as of 2022)
2.7 Date of Key Manufacturers Enter into Solar Inverter Market
2.8 Key Manufacturers Solar Inverter Product Offered
2.9 Mergers & Acquisitions, Expansion
3 Solar Inverter Status and Outlook by Region
3.1 Global Solar Inverter Market Size and CAGR by Region: 2018 VS 2022 VS 2029
3.2 Global Solar Inverter Historic Market Size by Region
3.2.1 Global Solar Inverter Sales in Volume by Region (2018-2023)
3.2.2 Global Solar Inverter Sales in Value by Region (2018-2023)
3.2.3 Global Solar Inverter Sales (Volume & Value) Price and Gross Margin (2018-2023)
3.3 Global Solar Inverter Forecasted Market Size by Region
3.3.1 Global Solar Inverter Sales in Volume by Region (2024-2029)
3.3.2 Global Solar Inverter Sales in Value by Region (2024-2029)
3.3.3 Global Solar Inverter Sales (Volume & Value), Price and Gross Margin (2024-2029)
4 Global Solar Inverter by Application
4.1 Solar Inverter Market Segment by Application
4.1.1 Residential
4.1.2 Commercial
4.1.3 Utility
4.2 Global Solar Inverter Market Size by Application
4.2.1 Global Solar Inverter Market Size Overview by Application (2018-2029)
4.2.2 Global Solar Inverter Historic Market Size Review by Application (2018-2023)
4.2.3 Global Solar Inverter Forecasted Market Size by Application (2024-2029)
4.3 Key Regions Market Size Segment by Application
4.3.1 North America Solar Inverter Sales Breakdown by Application (2018-2023)
4.3.2 Europe Solar Inverter Sales Breakdown by Application (2018-2023)
4.3.3 Asia-Pacific Solar Inverter Sales Breakdown by Application (2018-2023)
4.3.4 Latin America Solar Inverter Sales Breakdown by Application (2018-2023)
4.3.5 Middle East and Africa Solar Inverter Sales Breakdown by Application (2018-2023)
5 North America Solar Inverter by Country
5.1 North America Solar Inverter Historic Market Size by Country
5.1.1 North America Solar Inverter Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
5.1.2 North America Solar Inverter Sales in Volume by Country (2018-2023)
5.1.3 North America Solar Inverter Sales in Value by Country (2018-2023)
5.2 North America Solar Inverter Forecasted Market Size by Country
5.2.1 North America Solar Inverter Sales in Volume by Country (2024-2029)
5.2.2 North America Solar Inverter Sales in Value by Country (2024-2029)
6 Europe Solar Inverter by Country
6.1 Europe Solar Inverter Historic Market Size by Country
6.1.1 Europe Solar Inverter Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
6.1.2 Europe Solar Inverter Sales in Volume by Country (2018-2023)
6.1.3 Europe Solar Inverter Sales in Value by Country (2018-2023)
6.2 Europe Solar Inverter Forecasted Market Size by Country
6.2.1 Europe Solar Inverter Sales in Volume by Country (2024-2029)
6.2.2 Europe Solar Inverter Sales in Value by Country (2024-2029)
7 Asia-Pacific Solar Inverter by Region
7.1 Asia-Pacific Solar Inverter Historic Market Size by Region
7.1.1 Asia-Pacific Solar Inverter Market Size Growth Rate (CAGR) by Region: 2018 VS 2022 VS 2029
7.1.2 Asia-Pacific Solar Inverter Sales in Volume by Region (2018-2023)
7.1.3 Asia-Pacific Solar Inverter Sales in Value by Region (2018-2023)
7.2 Asia-Pacific Solar Inverter Forecasted Market Size by Region
7.2.1 Asia-Pacific Solar Inverter Sales in Volume by Region (2024-2029)
7.2.2 Asia-Pacific Solar Inverter Sales in Value by Region (2024-2029)
8 Latin America Solar Inverter by Country
8.1 Latin America Solar Inverter Historic Market Size by Country
8.1.1 Latin America Solar Inverter Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
8.1.2 Latin America Solar Inverter Sales in Volume by Country (2018-2023)
8.1.3 Latin America Solar Inverter Sales in Value by Country (2018-2023)
8.2 Latin America Solar Inverter Forecasted Market Size by Country
8.2.1 Latin America Solar Inverter Sales in Volume by Country (2024-2029)
8.2.2 Latin America Solar Inverter Sales in Value by Country (2024-2029)
9 Middle East and Africa Solar Inverter by Country
9.1 Middle East and Africa Solar Inverter Historic Market Size by Country
9.1.1 Middle East and Africa Solar Inverter Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
9.1.2 Middle East and Africa Solar Inverter Sales in Volume by Country (2018-2023)
9.1.3 Middle East and Africa Solar Inverter Sales in Value by Country (2018-2023)
9.2 Middle East and Africa Solar Inverter Forecasted Market Size by Country
9.2.1 Middle East and Africa Solar Inverter Sales in Volume by Country (2024-2029)
9.2.2 Middle East and Africa Solar Inverter Sales in Value by Country (2024-2029)
10 Company Profiles
10.1 ABB
10.1.1 ABB Company Information
10.1.2 ABB Introduction and Business Overview
10.1.3 ABB Solar Inverter Sales, Revenue and Gross Margin (2018-2023)
10.1.4 ABB Solar Inverter Products Offered
10.1.5 ABB Recent Development
10.2 SMA Solar Technology
10.2.1 SMA Solar Technology Company Information
10.2.2 SMA Solar Technology Introduction and Business Overview
10.2.3 SMA Solar Technology Solar Inverter Sales, Revenue and Gross Margin (2018-2023)
10.2.4 SMA Solar Technology Solar Inverter Products Offered
10.2.5 SMA Solar Technology Recent Development
10.3 Canadian Solar
10.3.1 Canadian Solar Company Information
10.3.2 Canadian Solar Introduction and Business Overview
10.3.3 Canadian Solar Solar Inverter Sales, Revenue and Gross Margin (2018-2023)
10.3.4 Canadian Solar Solar Inverter Products Offered
10.3.5 Canadian Solar Recent Development
10.4 SolarEdge Technologies
10.4.1 SolarEdge Technologies Company Information
10.4.2 SolarEdge Technologies Introduction and Business Overview
10.4.3 SolarEdge Technologies Solar Inverter Sales, Revenue and Gross Margin (2018-2023)
10.4.4 SolarEdge Technologies Solar Inverter Products Offered
10.4.5 SolarEdge Technologies Recent Development
10.5 SunPower
10.5.1 SunPower Company Information
10.5.2 SunPower Introduction and Business Overview
10.5.3 SunPower Solar Inverter Sales, Revenue and Gross Margin (2018-2023)
10.5.4 SunPower Solar Inverter Products Offered
10.5.5 SunPower Recent Development
10.6 Delta Electronics
10.6.1 Delta Electronics Company Information
10.6.2 Delta Electronics Introduction and Business Overview
10.6.3 Delta Electronics Solar Inverter Sales, Revenue and Gross Margin (2018-2023)
10.6.4 Delta Electronics Solar Inverter Products Offered
10.6.5 Delta Electronics Recent Development
10.7 Solectria Renewables
10.7.1 Solectria Renewables Company Information
10.7.2 Solectria Renewables Introduction and Business Overview
10.7.3 Solectria Renewables Solar Inverter Sales, Revenue and Gross Margin (2018-2023)
10.7.4 Solectria Renewables Solar Inverter Products Offered
10.7.5 Solectria Renewables Recent Development
10.8 Sineng Electric
10.8.1 Sineng Electric Company Information
10.8.2 Sineng Electric Introduction and Business Overview
10.8.3 Sineng Electric Solar Inverter Sales, Revenue and Gross Margin (2018-2023)
10.8.4 Sineng Electric Solar Inverter Products Offered
10.8.5 Sineng Electric Recent Development
10.9 Hitachi Hi-Rel Power Electronics
10.9.1 Hitachi Hi-Rel Power Electronics Company Information
10.9.2 Hitachi Hi-Rel Power Electronics Introduction and Business Overview
10.9.3 Hitachi Hi-Rel Power Electronics Solar Inverter Sales, Revenue and Gross Margin (2018-2023)
10.9.4 Hitachi Hi-Rel Power Electronics Solar Inverter Products Offered
10.9.5 Hitachi Hi-Rel Power Electronics Recent Development
10.10 Power electronics
10.10.1 Power electronics Company Information
10.10.2 Power electronics Introduction and Business Overview
10.10.3 Power electronics Solar Inverter Sales, Revenue and Gross Margin (2018-2023)
10.10.4 Power electronics Solar Inverter Products Offered
10.10.5 Power electronics Recent Development
11 Upstream, Opportunities, Challenges, Risks and Influences Factors Analysis
11.1 Solar Inverter Key Raw Materials
11.1.1 Key Raw Materials
11.1.2 Key Raw Materials Price
11.1.3 Raw Materials Key Suppliers
11.2 Manufacturing Cost Structure
11.2.1 Raw Materials
11.2.2 Labor Cost
11.2.3 Manufacturing Expenses
11.3 Solar Inverter Industrial Chain Analysis
11.4 Solar Inverter Market Dynamics
11.4.1 Solar Inverter Industry Trends
11.4.2 Solar Inverter Market Drivers
11.4.3 Solar Inverter Market Challenges
11.4.4 Solar Inverter Market Restraints
12 Market Strategy Analysis, Distributors
12.1 Sales Channel
12.2 Solar Inverter Distributors
12.3 Solar Inverter Downstream Customers
13 Research Findings and Conclusion
14 Appendix
14.1 Research Methodology
14.1.1 Methodology/Research Approach
14.1.2 Data Source
14.2 Author Details
14.3 Disclaimer
Published By : QY Research
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