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The increase In Number Of Solar Power System Installations Accelerates The Growth Of The Market Driver: A Major Catalyst in the Evolution of the Grid- Tied Inverters Market in 2025
Grid Tied Inverters Market
The grid-tied inverter market is predicted to grow owing to the surge in solar power system installations. A solar power system, which converts solar radiation into electrical or thermal energy, links up to a grid-tied inverter (GTI) that then converts the produced direct current (DC) into alternating current (AC). For example, a report by the International Energy Agency from France revealed in July 2023 that solar photovoltaic (PV) production saw a significant spike of 270 terawatt-hours (26%), totaling almost 1,300 terawatt-hours in 2022. The report's forecasts show that solar PV's installed power capacity is set to eclipse that of coal by 2027, making it the most significant power capacity source worldwide. The grid-tied inverters market driver: It is predicted that the cumulative capacity of solar PV will almost triple during the forecast period, growing by roughly 1,500 gigawatts. This is expected to outstrip natural gas by 2026 and coal by 2027. Consequently, the rise in solar power installations is a significant factor propelling the expansion of the grid-tied inverter market.
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What is the projected compound annual growth rate (CAGR) of the grid- tied inverters market from 2025 to 2034, and what factors influence it?
The market for grid-tied inverters has been expanding rapidly over the recent years. The estimated growth reflects an increase from $5.6 billion in 2024, reaching $6.08 billion in 2025 with a compound annual growth rate (CAGR) of 8.6%. The historical growth has been driven by factors such as government support and subsidies, advancements in solar technology, a rising trend towards renewable energy sources, initiatives for modernizing the grid, and dropping prices of solar photovoltaic systems.
The market for grid-tied inverters is predicted to exhibit robust growth in the coming years, with an expected valuation of $7.98 billion by 2029, and a compound annual growth rate (CAGR) of 7.0%. The uptrend in the forecast period is attributable to the surging demand for sustainable energy solutions, the expansion of solar power facilities, governmental support for renewable energy integration, and advancements in grid-tied inverter technology. Also, an increased emphasis on energy efficiency and sustainability is another factor. Significant trends for this period include the adoption of hybrid grid-tied inverters with energy storage capabilities, the rise of smart grid tech for enhanced grid management, integration of the internet of things (IoT) for remote monitoring and control, creation of microgrid systems for decentralized energy generation, and a focus on grid resilience and reliability to mitigate the effects of climate change.
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What trends are poised to drive the future success of the grid- tied inverters market?
Innovative solutions in grid-tied inverters, such as grid-tied residential energy storage solutions, are being developed by leading companies operating within the grid-tied inverter market to fortify their market standing. The incorporation of new grid-tied residential energy storage bolsters the growth of the grid-tied inverter market through increased demand, technological progression, and the smooth incorporation of energy storage systems within various grid conditions. For instance, the Canada-based Renewable energy company, Canadian Solar Inc., launched a cost-effective residential energy storage solution called the EP Cube Lite at RE+ in Las Vegas in September 2023. The solution is a pared-down version of the EP Cube, designed to increase financial benefits for U.S. households integrating solar and battery storage. Designed to economize energy usage and cut down evening costs, this compact, grid-tied system has scalable capacities ranging from 6.6 kWh to 19.9 kWh, making it compatible with pre-existing PV systems and encouraging customization. The EP Cube Lite comprises an integrated hybrid inverter and stackable storage modules, wherein the light components promote easy installation. This innovative solution aims to make energy storage more broadly accessible and foster sustainable practices.
What are the major segments of the grid- tied inverters market and their role in driving growth?
The grid- tied inverters market covered in this report is segmented -
1) By Type: Low Frequency Inverter, High Frequency Inverter
2) By Application: DC Voltage Source, Grid Connection, Other Application
3) By End-Use: Residential, Commercial, Industrial, Other End-Uses
Subsegments:
1) By Low Frequency Inverter: Transformer-Based Inverters, Applications In Large-Scale Systems
2) By High Frequency Inverter: Transformerless Inverters, Applications In Residential And Commercial Systems
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Which regions are key players in the growth of the grid- tied inverters market?
North America was the largest region in the grid tied inverters market in 2024. The regions covered in the grid- tied inverters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the grid- tied inverters market?
Major companies operating in the grid- tied inverters market report are Mitsubishi Electric Corporation, Huawei Technologies Co Ltd., Hitachi Ltd., Schneider Electric SE, ABB Ltd., Toshiba Corporation, Emerson Electric Co, Delta Electronics, Chint Power Systems Co Ltd., Omron Corporation, Sungrow Power Supply Co Ltd., KACO New Energy GmbH, CyberPower Systems Inc., SolarEdge Technologies Inc., Enphase Energy Inc., Advanced Energy Industries Inc., Ginlong Technologies Co Ltd., TMEIC International Corporation, SMA Solar Technology AG, Power Electronics España SL, Darfon Electronics Corporation, Luminous Power Technology Pvt Ltd., Fronius International GmbH, FIMER SpA, Altenergy Power System Inc., Growatt New Energy Technology Co Ltd., Sputnik Engineering AG, RS Components Ltd.
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What Is Covered In The Grid- Tied Inverters Global Market Report?
• Market Size Forecast: Examine the grid- tied inverters market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the grid- tied inverters market for a structured understanding.
• Key Players Overview: Analyze major players in the grid- tied inverters market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the grid- tied inverters market.
• Segment Contributions: Evaluate how different segments drive overall growth in the grid- tied inverters market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the grid- tied inverters market.
• Industry Challenges: Identify potential risks and obstacles affecting the grid- tied inverters market.
• Competitive Landscape: Review strategic developments in the grid- tied inverters market, including expansions, agreements, and new product launches.
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