The solar pv inverter market size has grown strongly in recent years. It will grow from $10.71 billion in 2025 to $11.3 billion in 2026 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to growth in distributed pv adoption, early deployment of string inverter systems, rising demand for grid-connected solar solutions, technological improvements in power conversion, expansion of residential solar programs.
The solar pv inverter market size is expected to see strong growth in the next few years. It will grow to $14.07 billion in 2030 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to increasing integration of energy storage, rising demand for hybrid inverter systems, expansion of utility-scale pv installations, advancements in inverter digitalization, growing focus on grid stability solutions. Major trends in the forecast period include increasing installation of distributed solar systems, growing shift toward high-efficiency inverter technologies, rising adoption of hybrid solar inverter solutions, advancements in dc-ac power conversion, expansion of utility-scale solar deployment.
The rapid development in the renewable energy sector is expected to drive the growth of the solar PV inverter market in the coming years. Renewable energy is derived from natural sources, such as sunlight, wind, rain, tides, and geothermal heat, which replenish themselves over short periods. These sources are increasingly in demand due to their sustainable and environmentally friendly nature, offering an alternative to fossil fuels while reducing greenhouse gas emissions and reliance on finite resources. Solar PV inverters are essential for harnessing renewable energy, as they convert the direct current (DC) electricity produced by photovoltaic panels into alternating current (AC) electricity, making it compatible with grid or home electrical systems. For instance, in September 2024, the Department for Energy Security and Net Zero, a UK-based government agency, reported that in Q2 2024, renewable energy accounted for 51.6% of total energy generation in the UK, showing a 9.9% increase compared to the same period in 2023. Thus, the continued growth of renewable energy is fueling the expansion of the solar PV inverter market.
Major companies operating in the solar PV market are concentrating on innovative solutions such as hybrid inverters to increase energy efficiency, support flexible system designs, and optimize solar power usage in residential and commercial low-voltage applications. Hybrid inverters are devices that integrate power from both solar panels and energy storage systems, offering smooth integration, grid support, and backup functionality. For instance, in May 2023, SolaX Power, a China-based solar technology company, unveiled the X1-Hybrid LV for low-voltage solar systems. The X1-Hybrid LV enhances energy management by allowing the simultaneous use of solar generation, battery storage, and grid power, improving flexibility and reliability for end-users.
In October 2023, Hitachi Ltd., a Japan-based manufacturer of construction, telecom, and power system products, acquired EKS Energy for an undisclosed amount. Through this acquisition, Hitachi Energy aims to enhance its renewables and battery energy storage offerings by integrating EKS's expertise in power electronics and energy management with its own capabilities in system integration, automation, and software. EKS Energy is a UK-based manufacturer of power electronic devices.
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.
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 on electronic components, semiconductor devices, and power conversion modules have increased production and procurement costs for solar PV inverters, impacting pricing across residential, commercial, and utility-scale markets. Regions reliant on imported inverter components, particularly North America, Europe, and parts of Asia-Pacific, face higher installation costs and slowed deployment. However, tariffs are also driving local manufacturing, supply chain diversification, and innovation in inverter efficiency, partially offsetting negative cost impacts through increased domestic capability.
The main types of solar PV inverters are central inverters, string inverters, and micro inverters. Central inverters are large-scale inverters that aggregate electricity from multiple solar panels for conversion from DC to AC, typically used in utility-scale solar installations. They are available in connection types such as on-grid and off-grid. They are used for several applications, such as residential, commercial, industrial, and utility-scale.
A solar PV (photovoltaic) inverter converts the fluctuating DC output from solar panels into a stable AC form, enabling its use in both commercial grid setups and independent, off-grid applications. It is a critical component in a solar energy system, allowing the electricity generated by solar panels to be used to power electrical devices and systems in homes and businesses. The inverter also optimizes the energy harvest from solar panels by matching the electrical characteristics of the grid or load.
The main types of solar PV inverters are central inverters, string inverters, and micro inverters. Central inverters are large-scale inverters that aggregate electricity from multiple solar panels for conversion from DC to AC, typically used in utility-scale solar installations. They are available in connection types such as on-grid and off-grid. They are used for several applications, such as residential, commercial, industrial, and utility-scale.Asia-Pacific was the largest region in the solar PV inverter market in 2025. 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, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the solar pv inverter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The solar PV inverter market consists of sales of solar panels, solar batteries, monitoring systems, hybrid inverters, and battery-based 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.
This product will be delivered within 1-3 business days.
The solar pv inverter market size is expected to see strong growth in the next few years. It will grow to $14.07 billion in 2030 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to increasing integration of energy storage, rising demand for hybrid inverter systems, expansion of utility-scale pv installations, advancements in inverter digitalization, growing focus on grid stability solutions. Major trends in the forecast period include increasing installation of distributed solar systems, growing shift toward high-efficiency inverter technologies, rising adoption of hybrid solar inverter solutions, advancements in dc-ac power conversion, expansion of utility-scale solar deployment.
The rapid development in the renewable energy sector is expected to drive the growth of the solar PV inverter market in the coming years. Renewable energy is derived from natural sources, such as sunlight, wind, rain, tides, and geothermal heat, which replenish themselves over short periods. These sources are increasingly in demand due to their sustainable and environmentally friendly nature, offering an alternative to fossil fuels while reducing greenhouse gas emissions and reliance on finite resources. Solar PV inverters are essential for harnessing renewable energy, as they convert the direct current (DC) electricity produced by photovoltaic panels into alternating current (AC) electricity, making it compatible with grid or home electrical systems. For instance, in September 2024, the Department for Energy Security and Net Zero, a UK-based government agency, reported that in Q2 2024, renewable energy accounted for 51.6% of total energy generation in the UK, showing a 9.9% increase compared to the same period in 2023. Thus, the continued growth of renewable energy is fueling the expansion of the solar PV inverter market.
Major companies operating in the solar PV market are concentrating on innovative solutions such as hybrid inverters to increase energy efficiency, support flexible system designs, and optimize solar power usage in residential and commercial low-voltage applications. Hybrid inverters are devices that integrate power from both solar panels and energy storage systems, offering smooth integration, grid support, and backup functionality. For instance, in May 2023, SolaX Power, a China-based solar technology company, unveiled the X1-Hybrid LV for low-voltage solar systems. The X1-Hybrid LV enhances energy management by allowing the simultaneous use of solar generation, battery storage, and grid power, improving flexibility and reliability for end-users.
In October 2023, Hitachi Ltd., a Japan-based manufacturer of construction, telecom, and power system products, acquired EKS Energy for an undisclosed amount. Through this acquisition, Hitachi Energy aims to enhance its renewables and battery energy storage offerings by integrating EKS's expertise in power electronics and energy management with its own capabilities in system integration, automation, and software. EKS Energy is a UK-based manufacturer of power electronic devices.
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.
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 on electronic components, semiconductor devices, and power conversion modules have increased production and procurement costs for solar PV inverters, impacting pricing across residential, commercial, and utility-scale markets. Regions reliant on imported inverter components, particularly North America, Europe, and parts of Asia-Pacific, face higher installation costs and slowed deployment. However, tariffs are also driving local manufacturing, supply chain diversification, and innovation in inverter efficiency, partially offsetting negative cost impacts through increased domestic capability.
The main types of solar PV inverters are central inverters, string inverters, and micro inverters. Central inverters are large-scale inverters that aggregate electricity from multiple solar panels for conversion from DC to AC, typically used in utility-scale solar installations. They are available in connection types such as on-grid and off-grid. They are used for several applications, such as residential, commercial, industrial, and utility-scale.
A solar PV (photovoltaic) inverter converts the fluctuating DC output from solar panels into a stable AC form, enabling its use in both commercial grid setups and independent, off-grid applications. It is a critical component in a solar energy system, allowing the electricity generated by solar panels to be used to power electrical devices and systems in homes and businesses. The inverter also optimizes the energy harvest from solar panels by matching the electrical characteristics of the grid or load.
The main types of solar PV inverters are central inverters, string inverters, and micro inverters. Central inverters are large-scale inverters that aggregate electricity from multiple solar panels for conversion from DC to AC, typically used in utility-scale solar installations. They are available in connection types such as on-grid and off-grid. They are used for several applications, such as residential, commercial, industrial, and utility-scale.Asia-Pacific was the largest region in the solar PV inverter market in 2025. 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, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the solar pv inverter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The solar PV inverter market consists of sales of solar panels, solar batteries, monitoring systems, hybrid inverters, and battery-based 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.
This product will be delivered within 1-3 business days.
Table of Contents
1. Executive Summary
2. Solar PV Inverter Market Characteristics
3. Solar PV Inverter Market Supply Chain Analysis
4. Global Solar PV Inverter Market Trends and Strategies
5. Solar PV Inverter Market Analysis of End Use Industries
7. Global Solar PV Inverter Strategic Analysis Framework, Current Market Size, Market Comparisons and Growth Rate Analysis
8. Global Solar PV Inverter Total Addressable Market (TAM) Analysis for the Market
9. Solar PV Inverter Market Segmentation
10. Solar PV Inverter Market Regional and Country Analysis
11. Asia-Pacific Solar PV Inverter Market
12. China Solar PV Inverter Market
13. India Solar PV Inverter Market
14. Japan Solar PV Inverter Market
15. Australia Solar PV Inverter Market
16. Indonesia Solar PV Inverter Market
17. South Korea Solar PV Inverter Market
18. Taiwan Solar PV Inverter Market
19. South East Asia Solar PV Inverter Market
20. Western Europe Solar PV Inverter Market
21. UK Solar PV Inverter Market
22. Germany Solar PV Inverter Market
23. France Solar PV Inverter Market
24. Italy Solar PV Inverter Market
25. Spain Solar PV Inverter Market
26. Eastern Europe Solar PV Inverter Market
27. Russia Solar PV Inverter Market
28. North America Solar PV Inverter Market
29. USA Solar PV Inverter Market
30. Canada Solar PV Inverter Market
31. South America Solar PV Inverter Market
32. Brazil Solar PV Inverter Market
33. Middle East Solar PV Inverter Market
34. Africa Solar PV Inverter Market
36. Solar PV Inverter Market Competitive Landscape and Company Profiles
37. Solar PV Inverter Market Other Major and Innovative Companies
40. Solar PV Inverter Market High Potential Countries, Segments and Strategies
41. Appendix
Executive Summary
Solar PV Inverter Market Global Report 2026 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses solar pv inverter market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 16 geographies.
- Assess the impact of key macro factors such as geopolitical conflicts, trade policies and tariffs, inflation and interest rate fluctuations, and evolving regulatory landscapes.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on end user analysis.
- Benchmark performance against key competitors based on market share, innovation, and brand strength.
- Evaluate the total addressable market (TAM) and market attractiveness scoring to measure market potential.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for solar pv inverter? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The solar pv inverter market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
- The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
- The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
- The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
- The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
- The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
- Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.
Scope
Markets Covered:
1) By Type: Central Inverters; String Inverters; Micro Inverters2) 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 Inverters2) By String Inverters: Single-Phase String Inverters; Three-Phase String Inverters
3) By Micro Inverters: Grid-Tied Micro Inverters; Off-Grid Micro Inverters
Companies Mentioned: 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.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: Word, PDF or Interactive Report + Excel Dashboard
Added Benefits:
- Bi-Annual Data Update
- Customisation
- Expert Consultant Support
Companies Mentioned
The companies featured in this Solar PV Inverter market report include:- 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.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 250 |
| Published | January 2026 |
| Forecast Period | 2026 - 2030 |
| Estimated Market Value ( USD | $ 11.3 Billion |
| Forecasted Market Value ( USD | $ 14.07 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 26 |
