Solar Inverter Market Report 2025 – Market Size, Trends, And Forecast 2025-2034

The Business Research Company’s Solar Inverter Global Market Report 2025 – Market Size, Trends, And Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, February 4, 2025 /EINPresswire.com/ -- The solar inverter market has experienced significant growth in recent years. It is expected to increase from $16.63 billion in 2024 to $18.52 billion in 2025, at a compound annual growth rate (CAGR) of 11.3%. This growth in the past period can be attributed to the rising adoption of solar photovoltaic (PV) systems, a growing emphasis on energy independence and sustainability, reductions in solar costs, grid integration, and the pursuit of energy independence.

How Big Is the Global Solar Inverter Market Expected to Grow, and What Is Its Annual Growth Rate?
The solar inverter market is projected to experience strong growth in the coming years, reaching $28.23 billion by 2029, with a compound annual growth rate (CAGR) of 11.1%. This growth is driven by the integration of energy storage, global climate commitments, electrification initiatives, smart grid development, and the rise in solar power projects. Key trends in the forecast period include smart inverters, hybrid solar inverters, advanced MPPT algorithms, AI and predictive maintenance, and bifacial solar panels.

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What Is Driving the Growth of the Solar Inverter Market?
The rapid advancement of the renewable energy sector is a major factor propelling the growth of the solar inverter market. The surge in solar power adoption in recent years has reinvigorated global efforts to cut greenhouse gas emissions and combat climate change. Solar inverters play a crucial role in driving the expansion of renewable energy.

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Which Leading Companies Are Driving The Growth Of The Solar Inverter Market Share?
Major companies operating in the solar inverter market include Asea Brown Boveri, Sma Solar Technology AG, Canadian Solar, Solaredge Technologies Inc, Delta Electronics Inc., Solectria Renewables LLC, Omron Corporation, Hitachi Hi-rel Power Electronics Private Limited, Power Electronics S.L

What Are The Key Trends Driving The Growth Of The Solar Inverter Market Size?
Leading companies in the global solar inverter market are concentrating on creating innovative technologies like the 6 MVA 2000 Vdc inverter to boost efficiency, lower costs, and enhance scalability in large-scale solar energy systems. The 6 MVA 2000 Vdc inverter is a utility-scale solar solution aimed at improving efficiency and reducing costs by converting DC power from solar panels into AC power for integration with the grid.

How Is the Global Solar Inverter Market Segmented?
The solar inverter market covered in this report is segmented –
1) By Type: Central Inverter, Micro Inverter, String Inverter
2) By System-Type: On-Grid, Off-Grid
3) By End-Use: Residential, Commercial, Utilities
Subsegments:
1) By Central Inverter: Utility-Scale Central Inverters, Containerized Central Inverters, Transformer-Based Central Inverters
2) By Micro Inverter: Standard Micro Inverters, Enclosed Micro Inverters, Integrated Micro Inverters
3) By String Inverter: Single-Phase String Inverters, Three-Phase String Inverters, Hybrid String Inverters

The Leading Region in the Solar Inverter Market is:
Asia-Pacific was the largest region in the solar inverter market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the solar inverter market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

What Is the Solar Inverter Market?
A solar inverter is a device that converts the energy generated by solar panels into usable electricity for homes or offices. It plays a crucial role in the solar power system by transforming the variable direct current (DC) power from the solar panels into alternating current (AC) power, typically 120V/240V, for everyday use.

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