Press release
Future of the Grid- Tied Inverters Market: Strategic Analysis and Forecast to 2034
Grid- Tied Inverters Market
Grid- Tied Inverters Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of grid-tied inverters has seen significant growth in recent years, expanding from a value of $5.6 billion in 2024 to an expected $6.08 billion in 2025. This translates to a compound annual growth rate (CAGR) of 8.6%. The impressive growth observed in the historic period is due to factors such as government incentives and subsidies, advancements in solar energy technology, increased adoption of renewable energy sources, initiatives to modernize the grid, and falling prices of solar photovoltaic systems.
Grid- Tied Inverters Market Size Forecast: What's the Projected Valuation by 2029?
In the upcoming years, substantial growth is anticipated for the grid-tied inverters market, which is projected to soar to $7.98 billion in 2029 with a 7.0% compound annual growth rate (CAGR). The predicted expansion during this period is linked to the escalating need for clean energy options, the scale-up of solar power capabilities, governmental support for the incorporation of renewable energy, advancements in the technology of grid-tied inverters, and an increased spotlight on energy efficiency and environmental sustainability. Foreseen trend for this period encompasses the uptake of hybrid grid-tied inverters integrated with energy storage, the rise of cutting-edge grid technologies for enhanced grid management, the fusion of Internet of Things (IoT) for offsite monitoring and control, the inception of microgrid systems for decentralized energy production, and a focus on ensuring grid resilience and dependability to tackle the effects of climate change.
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What Are the Drivers Transforming the Grid- Tied Inverters Market?
The grid-tied inverter market is predicted to grow as a result of an increase in solar power system installations. The latter refers to a device that harnesses solar radiation and converts it into viable electrical or thermal energy. In this system, solar panels are linked to a grid-tied inverter (GTI) that converts the direct current (DC) produced into alternating current (AC). For example, a report from the France-based International Energy Agency in July 2023 stated that solar photovoltaic (PV) generation saw a significant increase of 270 terawatt-hours (26%), hitting nearly 1,300 terawatt-hours in 2022. Forecasts suggest that solar PV's installed power capacity is poised to outstrip coal by 2027, becoming the planet's largest power capacity source. Grid-Tied Inverters Market Driver: It's expected that the total capacity of solar PV will nearly triple during the forecast period, growing by roughly 1,500 gigawatts and overtaking natural gas by 2026 and coal by 2027. As a result, the growth of the grid-tied inverter market is being fueled by an increase in solar power installations.
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What Long-Term Trends Will Define the Future of the Grid- Tied Inverters Market?
Top firms in the grid-tied inverter sector are focusing on creating cutting-edge innovations such as residential energy storage solutions suited for grid-tied systems in order to fortify their market standing. The incorporation of these inventive grid-attached domestic energy storage solutions escalates the grid-tied inverter market expansion due to an increase in demand, the breakthrough in technology, and the flawless integration of energy storage systems in diverse grid landscapes. For instance, Canadian Solar Inc., a renewable energy firm based in Canada, launched the EP Cube Lite, an economical residential energy storage solution at the RE+ event in Las Vegas in September 2023. This is a smaller version of the EP Cube, aimed at increasing the financial benefits for American homes incorporating integrated solar and battery storage. The compact, grid-attached system enables users to regulate their energy consumption, thereby reducing evening costs. With adjustable capacities ranging from 6.6 kWh to 19.9 kWh, it can be tailored to work with existing photovoltaic systems. Equipped with an integrated hybrid inverter and stackable storage modules, the lightweight parts support swift installation and intend to make the energy storage sector more reachable and foster sustainable practices.
Which Segments in the Grid- Tied Inverters Market Offer the Most Profit Potential?
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 Firms Dominate the Grid- Tied Inverters Market by Market Share and Revenue in 2025?
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.
Which Regions Offer the Highest Growth Potential in 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.
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