The increase In Number Of Solar Power System Installations Accelerates The Growth Of The Market: Key Factor Driving The Growth In The Grid- Tied Inverters Market

The Grid- Tied Inverters Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Expected Grid- Tied Inverters Market Size During the Forecast Period?
The market size for grid-tied inverters has seen significant growth in the past few years. It is set to increase from $5.6 billion in 2024 to $6.08 billion in 2025, experiencing a compound annual growth rate (CAGR) of 8.6%. The factors influencing this substantial growth in the historic period include government subsidies and incentives, advancements in solar energy technology, a surge in the adoption of renewable energy sources, initiatives for grid modernization, and a reduction in the costs of solar photovoltaic systems.

The market size for grid-tied inverters is forecasted to experience robust growth in the coming years, with a projected value of $7.98 billion in 2029, reflecting a compound annual growth rate (CAGR) of 7.0%. Factors contributing to this interest during the predicted period include an increasing demand for cleaner energy solutions, solar power capacity expansion, regulatory backing for renewable energy merging, and innovations in grid-tied inverter technology. Moreover, the emphasis on energy efficiency and sustainability adds more impetus to the growth. The forecast period is also likely to notice major trends like the preference for hybrid grid-tied inverters with energy storage features, the rise of smart grid technologies for enhanced grid management, integration of the Internet of Things (IoT) for remote control and monitoring, formulating microgrid systems for decentralised energy production, and a firm emphasis on grid resilience and reliability due to the impact of climate change.

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What Are the High-Growth Segments in the Grid- Tied Inverters Market?
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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What Key Drivers Are Expected to Influence Future Grid- Tied Inverters Market Growth?
The anticipated rise in solar power system setups is anticipated to boost the growth of the grid-tied inverter market. A solar power system is a device that captures sunlight and turns it into usable electric or thermal energy. These solar panels are connected to a device known as grid-tied inverter (GTI), which converts the direct current produced by the panels into an alternating current. As per a report by the International Energy Agency, based in France, there was a significant increase in solar photovoltaic (PV) generation of 270 terawatt-hours (26%) in July 2023, totaling to around 1,300 terawatt-hours in 2022. The report also projects that by 2027, the installed power capacity of solar PV is expected to surpass that of coal, making it the world's largest power capacity source. Grid- Tied Inverters Market Driver: The forecast predicts nearly a threefold increase in the total capacity of solar PV, expanding at about 1,500 gigawatts over the specified period and outdoing natural gas by 2026 and coal by 2027. Therefore, the rise in the number of solar power installations is fuelling the growth of the grid-tied inverter market.

Which Companies Hold the Largest Share Across Different Grid- Tied Inverters Market Segments?
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.

What Are the Latest Developing Trends in the Grid- Tied Inverters Market?
Key companies in the grid-tied inverter market are pioneering innovative solutions like grid-tied residential energy storage solutions to consolidate their market standing. The introduction of novel grid-tied residential energy storage escalates the growth rate of the grid-tied inverter market through factors such as increased demand, technological progression, and smooth incorporation of energy storage systems in various grid environments. For instance, in September 2023, Canadian Solar Inc., a renewable energy enterprise based in Canada, showcased the EP Cube Lite - a budget-friendly residential energy storage solution announced at RE+ in Las Vegas. This model is a downscaled version of the EP Cube and amplifies the financial gains for American families that decide to integrate solar and battery storage. The compact, grid-tied device enables end-users to optimise energy consumption, thereby lowering evening expenses. Capable of scaling from 6.6 kWh to 19.9 kWh, it is compatible with pre-existing PV systems, encouraging user customization. With its integrated hybrid inverter and stackable storage modules, its lightweight parts allow quick set-up, with the ultimate aim of increasing the accessibility of energy storage and fostering sustainability.

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What Are the Emerging Geographies for The Grid- Tied Inverters Market Growth?
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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Grid- Tied Inverters Market?
2. What is the CAGR expected in the Grid- Tied Inverters Market?
3. What Are the Key Innovations Transforming the Grid- Tied Inverters Industry?
4. Which Region Is Leading the Grid- Tied Inverters Market?

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