Inverters - Global Strategic Business Report

The global market for Inverters was estimated at US$29.4 Billion in 2024 and is projected to reach US$69.3 Billion by 2030, growing at a CAGR of 15.4% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Inverters market.

Global Inverters Market - Key Trends and Drivers Summarized

How Are Inverters Powering the Shift to Renewable Energy?

Inverters play a crucial role in renewable energy systems by converting direct current (DC) from sources like solar panels or batteries into alternating current (AC) used in homes and businesses. As the global demand for clean energy grows, inverters are becoming increasingly important in residential, commercial, and utility-scale solar power installations. Modern inverters come in various types, including string inverters, central inverters, and microinverters, each designed to optimize the efficiency and performance of solar energy systems. In addition to renewable energy, inverters are essential in uninterruptible power supply (UPS) systems, electric vehicles, and various industrial applications, enabling consistent and reliable power conversion across sectors.

What Technological Innovations Are Shaping the Inverter Market?

Technological advancements in power electronics and digital controls are significantly enhancing the performance of inverters. Innovations such as maximum power point tracking (MPPT) technology enable inverters to maximize energy generation by adjusting to changing weather conditions, ensuring optimal efficiency in solar installations. Smart inverters equipped with communication capabilities are gaining traction, allowing integration with smart grids to improve grid stability and enhance energy management. Additionally, the development of hybrid inverters that can simultaneously manage energy from solar panels, batteries, and the grid is revolutionizing energy storage and self-consumption in residential and commercial applications. These technologies are expanding the scope and potential of inverters across various industries.

How Do Market Segments Define the Growth of the Inverter Market?

Key types include solar inverters, hybrid inverters, and battery inverters, with solar inverters dominating the market due to the surge in solar energy adoption worldwide. Applications range from residential solar power systems to industrial automation and electric vehicles, with residential solar systems representing the largest segment due to government incentives and growing consumer awareness of renewable energy. End-users span across residential, commercial, industrial, and utility sectors, with the utility sector expected to experience rapid growth as large-scale solar farms and energy storage systems become more prevalent. Geographically, Asia-Pacific leads the market, driven by the expansion of renewable energy projects in countries like China, India, and Japan.

What Factors Are Driving the Growth in the Inverter Market?

The growth in the inverter market is driven by several factors, including the increasing global focus on renewable energy, rising demand for energy storage solutions, and advancements in inverter technology. As countries worldwide push for decarbonization and energy independence, inverters are playing a pivotal role in the transition to solar and other renewable energy sources. The rapid growth of electric vehicles is also contributing to market expansion, as inverters are essential components in vehicle powertrain systems. Additionally, technological advancements in hybrid and smart inverters, along with government incentives for solar installations and energy storage, are accelerating the adoption of inverters across residential, commercial, and utility-scale applications.

SCOPE OF STUDY:

The report analyzes the Inverters market in terms of units by the following Segments, and Geographic Regions/Countries:

• Segments: Power Output (Below 10 kW, 10-50 kW, 50-100 kW, Above 100 kW); End-Use (Residential, Commercial, Automotive, PV Plants)
• Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Below 10 kW segment, which is expected to reach US$27.0 Billion by 2030 with a CAGR of a 14.5%. The 10-50 kW segment is also set to grow at 15.3% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $7.5 Billion in 2024, and China, forecasted to grow at an impressive 19.7% CAGR to reach $17.3 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Inverters Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Inverters Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Inverters Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of players such as ABB, Altenergy Power System, Bestek, Continental, Darfon Electronics and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 92 companies featured in this Inverters market report include:

• ABB
• Altenergy Power System
• Bestek
• Continental
• Darfon Electronics
• Delphi Technologies
• Delta Electronics
• Enphase Energy
• Fimer
• Fronius International
• General Electric
• Goodwe
• Growatt New Energy
• Huawei Technologies
• Kaco New Energy
• Power Electronics
• Samlex Europe
• Schneider Electric
• Sensata Technologies
• SMA Solar Technology
• Solaredge Technologies
• Sungrow Power Supply
• Tbea Xinjiang Sunoasis
• Toshiba Mitsubishi-Electric Industrial Systems Corporation
• Yaskawa Solectria Solar

This edition integrates the latest global trade and economic shifts as of June 2025 into comprehensive market analysis. Key updates include:

• Tariff and Trade Impact: Insights into global tariff negotiations across 180+ countries, with analysis of supply chain turbulence, sourcing disruptions, and geographic realignment. Special focus on 2025 as a pivotal year for trade tensions, including updated perspectives on the Trump-era tariffs.
• Adjusted Forecasts and Analytics: Revised global and regional market forecasts through 2030, incorporating tariff effects, economic uncertainty, and structural changes in globalization. Includes segmentation by product, technology, type, material, distribution channel, application, and end-use, with historical analysis since 2015.
• Strategic Market Dynamics: Evaluation of revised market prospects, regional outlooks, and key economic indicators such as population and urbanization trends.
• Innovation & Technology Trends: Latest developments in product and process innovation, emerging technologies, and key industry drivers shaping the competitive landscape.
• Competitive Intelligence: Updated global market share estimates for 2025, competitive positioning of major players (Strong/Active/Niche/Trivial), and refined focus on leading global brands and core players.
• Expert Insight & Commentary: Strategic analysis from economists, trade experts, and domain specialists to contextualize market shifts and identify emerging opportunities.
• Complimentary Update: Buyers receive a free July 2025 update with finalized tariff impacts, new trade agreement effects, revised projections, and expanded country-level coverage.