Solar Inverter Market Report 2026

The solar inverter market size has grown rapidly in recent years. It will grow from $18.23 billion in 2025 to $20.18 billion in 2026 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to increasing adoption of rooftop solar systems, reliance on basic string inverters, early deployment of off-grid solar solutions, growth in utility-scale solar farms, expansion of government-led solar programs.

The solar inverter market size is expected to see rapid growth in the next few years. It will grow to $29.98 billion in 2030 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to rising demand for smart hybrid inverters, growing integration with energy storage systems, development of real-time monitoring platforms, expansion of distributed solar generation, increasing installation of high-efficiency micro inverters. Major trends in the forecast period include expansion of sustainable solar power conversion, development of high-efficiency inverter manufacturing, advancement of cloud-enabled solar monitoring, growth of IoT-integrated solar inverter platforms, adoption of electrification-driven distributed energy systems.

The rapid development of the renewable energy sector is significantly driving the growth of the solar inverter market. The accelerating expansion of solar power in recent years has strengthened global efforts to reduce greenhouse gas emissions and mitigate the impacts of climate change. Solar inverters play a crucial role in enabling this renewable energy transition. For example, in March 2025, according to the International Renewable Energy Agency (IRENA), a UAE-based intergovernmental organization, renewable power capacity saw a massive increase in 2024, reaching 4,448 gigawatts (GW). The addition of 585 GW represented 92.5% of total capacity expansion and marked a record annual growth rate of 15.1%. Therefore, the rapid development of the renewable energy sector is expected to boost the growth of the solar inverter market.

Leading companies in the solar inverter market are focusing on developing advanced solutions such as three-phase 330kW inverters to better meet customer needs and expand application capabilities. A three-phase 330kW inverter converts direct current (DC) generated by solar panels into three-phase alternating current (AC) suitable for integration with the main electrical grid. For instance, in September 2023, SolarEdge Technologies, Inc., an Israel-based solar inverter manufacturer, introduced a high-power three-phase SolarEdge 330kW inverter along with the H1300 Power Optimizer. These products are designed for community solar, agri-PV, and small-to-medium ground-mount utility PV applications. The 330kW inverter supports both dispersed and centralized topologies, enabling large-scale installations to place the inverter centrally while benefiting from Module Level Power Electronics (MLPE), such as increased energy output, design flexibility, advanced safety features, and detailed module-level monitoring.

In October 2023, Hitachi Energy Ltd., a Switzerland-based provider of sustainable energy solutions for utility, industrial, infrastructure, and building sectors, acquired eks Energy for an undisclosed amount. This acquisition strengthens Hitachi Energy’s position in the renewable energy and energy storage markets by integrating eks Energy’s power electronics and advanced control technologies with its own automation, software, and systems integration capabilities. eks Energy is a UK-based company specializing in power electronic devices, including solar inverters.

Major companies operating in the solar inverter market are Asea Brown Boveri, SMA Solar Technology AG, Canadian Solar, SolarEdge Technologies Inc, Delta Electronics Inc., Solectria Renewables LLC, Omron Corporation, Hitachi Hi-rel Power Electronics Pvt. Ltd, Power Electronics S.L, Schneider Electric, SunPower Corporation, Tabuchi Electric Co. Ltd, General Electric Company, Enphase Energy Inc., Advanced Energy Industries Inc., Chint Power Systems Co. Ltd, Eaton Corporation plc, Ginlong Technologies Co. Ltd, GoodWe Power Supply Technology Co. Ltd, Huawei Technologies Co. Ltd, Ingeteam S.A., KACO new energy GmbH, Mitsubishi Electric Corporation, Sungrow Power Supply Co. Ltd, Tebian Electric Apparatus Co. Ltd, Toshiba Corporation, Trina Solar Limited, Wuxi Suntech Power Co. Ltd, Yaskawa Electric Corporation, Yingli Green Energy Holding Company Limited, Zeversolar, Zhejiang Chint Electrics Co. Ltd.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs have influenced the solar inverter market by raising the cost of imported power electronics, semiconductors, transformers, and enclosure materials sourced mainly from Asia-Pacific. Residential, commercial, and utility-scale solar projects in North America and Europe face higher system installation costs and elongated procurement cycles. However, tariffs are accelerating domestic inverter manufacturing, promoting regional sourcing strategies, and encouraging innovation in high-efficiency and grid-stabilizing inverter technologies, which strengthens long-term energy independence.

The solar inverter market research report is one of a series of new reports that provides solar inverter market statistics, including solar inverter industry, global solar inverter market size, regional shares, competitors with a solar inverter market share, detailed solar inverter market segments, market trends and opportunities, and any further data you may need to thrive in the solar inverter industry. This solar inverter market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A solar inverter is a device designed to convert the energy generated by solar panels into usable electricity for residential or commercial use. It plays a crucial role in the solar power system by transforming the variable direct current (DC) power produced by solar panels into alternating 120V/240V current (AC) that can be utilized to power homes or offices.

The primary types of solar inverters are central inverters, micro-inverters, and string inverters. Central solar inverters are suitable for systems requiring large capacities, often in the hundreds of kilowatts or even megawatts. These inverters, resembling significant metal cabinets, are not intended for domestic use but are commonly employed in commercial applications for large-scale installations or utility-scale solar farms. Solar inverter systems are categorized as on-grid and off-grid based on their connection to the power grid.Solar inverters find applications in various end-uses, including residential, commercial, and utility-scale installations.Asia-Pacific was the largest region in the solar inverter market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the solar inverter market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the solar inverter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The solar inverter market consists of sales of microinverters, string inverters, central inverters, and other solar inverters. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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