Press release
Global Solar PV Inverter Market Outlook 2025-2034: Trends, Innovations, And Future Outlook
Solar PV Inverter
What Is the Solar PV Inverter Market Size and Projected Growth Rate?
In recent years, there has been a significant growth in the market size of solar PV inverters. It is projected to increase from $10.11 billion in 2024 to $10.88 billion in 2025, marking a compound annual growth rate (CAGR) of 7.6% in the process. The boom during the historic time can be credited to the fast-paced progress in the renewable energy sector, the simplicity of solar inverter installation, the advent of government subsidies, the worldwide thrust for cleaner and eco-friendly energy sources, as well as the decreasing costs of solar PV inverters.
The market size for solar PV inverters is projected to experience significant growth over the coming years, expanding to $13.78 billion in 2029 at a 6.1% compound annual growth rate (CAGR). This anticipated expansion during the forecast period could be credited to factors like amplified investments and ambitious goals in the solar energy sector, heightened usage in the commercial and industrial sectors, a global surge in energy demand, and an increased call for solar power and reliable, constant power sources. Some key trends expected during this forecast period are a higher adoption rate of microinverters and string inverters, rising demand for high-power inverters, the advent of smart inverters, advancement of new inverter technologies, and innovative product development integrating the newest technology in solar PV inverters.
Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=14206
What Are the Major Segments in the Solar PV Inverter Market?
The solar PV inverter market covered in this report is segmented -
1) By Type: Central Inverters, String Inverters, Micro Inverters
2) By Connection Type: On-Grid, Off-Grid
3) By Application: Residential, Commercial and Industrial, Utility-Scale
Subsegments:
1) By Central Inverters: Utility-Scale Central Inverters, Containerized Central Inverters
2) By String Inverters: Single-Phase String Inverters, Three-Phase String Inverters
3) By Micro Inverters: Grid-Tied Micro Inverters, Off-Grid Micro Inverters
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14206&type=smp
What Are The Driving Solar PV Inverter Market Evolution?
The solar PV inverter market is predicted to see significant growth due to the fast-paced advancements in the renewable energy sector. Power obtained from natural resources that are self-replenishing in short timescales, such as sun, wind, rain, tides and geothermal heat, is known as renewable energy. These types of energy sources are highly sought after because they present a sustainable and environmentally friendly alternative to fossil fuels, cutting down greenhouse gas emissions and reliance on limited resources. Solar PV inverters play a vital role in using renewable energy as they transform the direct current (DC) electricity made by photovoltaic panels into alternating current (AC) electricity, which can then be utilized in grid or residential electrical systems. For example, data released by the Department for Energy Security and Net Zero in the UK showed that in Q2 2024, renewable energy made up 51.6% of all energy generated in the UK, marking an increase of 9.9% points (PP) compared to the same time in 2023. Hence, the growing popularity of renewable energy is a direct contributor to the expanding solar PV inverter market.
Which Firms Dominate The Solar PV Inverter Market Segments?
Major companies operating in the solar PV inverter market are Huawei Technologies Co. Ltd., Hitachi Limited, Siemens AG, General Electric Company, Mitsubishi Electric Corporation, Schneider Electric SE, ABB Ltd., Toshiba Corporation, Eaton Corporation, TBEA Sunoasis Co. Ltd., Emerson Electric Co., Omron Corporation, Sungrow Power Supply Co. Ltd., SolarEdge Technologies Inc., Enphase Energy Inc., SunPower Corporation, SMA Solar Technology AG, Fronius International GmbH, Kstar New Energy Co. Ltd., AEG Power Solutions B.V., KACO new energy GmbH, Fimer SpA, Sineng Electric Co. Ltd., Altenergy Power System Inc., Delta Energy Systems Inc.
What Trends Are Driving Growth in The Solar PV Inverter Market?
In the solar PV inverter market, significant players such as V-Guard Industries Ltd., are launching new products including Solsmart to increase their market profitability. This on-grid PV inverter, characterized by its high efficiency of 98.4% and enhanced safety features like an in-built DC switch, is compatible with both rooftop and standard solar panels. For example, in June 2022, this India-based consumer electronics firm introduced Solsmart. With a generous 10-year warranty, it boasts innovative features like real-time solar analytics, maintenance alerts, and a battery gravity enhancer, all easily managed through an app. Structured for resilience, it provides safeguards against short circuits, overloading, and power spikes and is available in both single- and three-phase versions.
Get the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/solar-pv-inverter-global-market-report
Which Is The Largest Region In The Solar PV Inverter Market?
Asia-Pacific was the largest region in the solar PV inverter market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the solar pv inverter 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 Solar PV Inverter Market?
2. What is the CAGR expected in the Solar PV Inverter Market?
3. What Are the Key Innovations Transforming the Solar PV Inverter Industry?
4. Which Region Is Leading the Solar PV Inverter Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Solar PV Inverter Market Outlook 2025-2034: Trends, Innovations, And Future Outlook here
News-ID: 4030464 • Views: …
More Releases from The Business Research Company
Evolving Market Trends In The Sourdough Industry: Calise & Sons Bakery Launches …
The Sourdough 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 Sourdough Market Size During the Forecast Period?
The size of the sourdough market has seen robust growth in the past few years. It is projected to expand from $2.93 billion in 2024…
Emerging Trends Influencing The Growth Of The Software Defined Networking Market …
The Software Defined Networking 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].
How Big Is the Software Defined Networking Market Size Expected to Be by 2034?
Over recent years, there has been a rapid expansion in the market size of software defined networking. The forecast indicates…
Social Customer Relationship Management Market Report 2025-2034: Industry Overvi …
The Social Customer Relationship Management 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 Current Social Customer Relationship Management Market Size and Its Estimated Growth Rate?
Over the past few years, the size of the social customer relationship management market has seen significant expansion.…
Software Testing Market Size Projected To Reach $81.65 Billion By 2034 With A Ca …
The Software Testing 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 Projected Growth of the Software Testing Market?
The market for software testing has seen considerable expansion in the past few years. It's projected to rise from $52.45 billion in 2024 to $57.46…
More Releases for Inverter
Solar Inverter Market Industry Analysis - Solar Inverter Market Size Driven by R …
The most recent study offered by Acumen Research and Consulting focuses Solar Inverter Market size, share, growth rate, and market trends, as well as the parameters and factors influencing it in both the long term and short term. The report investigates the Solar Inverter Market trends in order to assess its current and future potential. Our Solar Inverter Market analysis also provides market participants and new entrants with a comprehensive…
India Solar Inverter Market (2018-2024)
Power sector in India is witnessing a radical change on account of government's move towards power generation via renewable energy resources. Increasing electricity consumption and surging awareness towards environment are together helping the country towards utilization of green energy resources, especially solar. Moreover, solar inverter market is exhibiting immense growth over the past few years owing to surging implementation of solar energy projects in the country. Additionally, National Solar Mission,…
Global Micro-Inverter Market Research Report
A micro-inverter, or simply microinverter, is a plug-and-play device used in photovoltaics, that converts direct current (DC) generated by a single solar module to alternating current (AC). The output from several microinverters can be combined and often fed to the electrical grid. Microinverters contrast with conventional string and central solar inverters, which are connected to multiple solar modules or panels of the PV system
Get sample copy of the report:
https://www.marketdensity.com/contact?ref=Sample&reportid=72180
Table of…
India Power Inverter Market Outlook, 2023
The Report provides the comprehensive analysis of the power inverter market in India. The report has covered the entire segment includes global power inverter Market, India power inverter Market, Square wave, Modified/Quasi wave, pure sine wave in Power inverter market with its size and share in India Market. The report will provides the historical, present and forecasted data to understand the growth potential of the market. The report will provide…
String Inverter Market Instantaneous Aggrandizement 2025
Global String Inverter Market: Snapshot
String inverters are used for converting direct current (DC) into alternating current (AC). Strict government regulations towards the use of fossil fuels coupled with the soaring demand for uninterrupted electricity supply is stoking the growth of the global market for string inverters. In addition to this, the introduction of various schemes by governments to promote the adoption of renewable energy is working in favor of…
String Inverter Market Research Report 2017
In this report, the global String Inverter market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022.
Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of String Inverter in these regions, from 2012 to 2022 (forecast), covering
North…
