Report cover image

Solar PV Inverter Industry, Global, 2024–2035

Publisher Frost & Sullivan
Published May 10, 2025
SKU # MC20019709

Description

Solar PV accounted for 45% of all power generation investment in 2024, and it is forecast to maintain this throughout the next decade. Inverters are one of the key components within a PV system, accounting for anywhere from 5% to 15% of the total system value, depending on the end customer segment. This study assesses the global market potential and growth opportunities for solar PV inverters. It includes three broad categories of inverters - central inverters, used mostly in large-scale utility installations; string inverters, used in medium-sized installations, such as commercial and residential establishments, and increasingly utility projects; and micro inverters that are mostly used in residential setups with some installations in the commercial sector. The revenue forecast for inverters is aligned to the solar PV industry. Frost & Sullivan accounts for revenues in the year the system comes online and the same applies for PV inverters.

Table of Contents

    • Scope of Analysis
    • Regional Segmentation
    • End User Segmentation
    • Product Segmentation
    • Why is it Increasingly Difficult to Grow?
    • The Strategic Imperative 8™
    • The Impact of the Top 3 Strategic Imperatives on the Solar PV Inverter Industry
    • Growth Opportunities Fuel the Growth Pipeline Engine™
    • Key Findings
    • PV Inverters Comparative Analysis
    • PV Inverter Purchase Parameters
    • What Impacts Inverter Reliability?
    • Types of IGBT Failure
    • Types of Capacitor Failure
    • Key Strategy Trends
    • Growth of Galium Nitride Semiconductors for PV Inverters
    • Greater Use of Digital Solutions to Increase the Intelligence of Inverters
    • Digital O&M to Minimize Arc Faults and Ensure Continuity
    • Hybrid Inverter Solutions Gaining Prominence as BESS Grows
    • Growth Drivers
    • Growth Restraints
    • Forecast Assumptions
    • Pricing Trends
    • Revenue Forecast by Region
    • Revenue Forecast by Segment
    • Revenue Forecast by Product Type
    • Revenue Forecast by Region—String Inverters
    • Revenue Forecast by Region—Central Inverters
    • Revenue Forecast by Region—Micro Inverters
    • Market Share, Solar PV Inverters, 2024
    • North America Revenue Forecast by Product
    • China Revenue Forecast by Product
    • Western Europe Revenue Forecast by Product
    • Central and Eastern Europe Revenue Forecast by Product
    • East Asia Revenue Forecast by Product
    • India & South Asia Revenue Forecast by Product
    • ASEAN Revenue Forecast by Product
    • ANZ & Pacific Revenue Forecast by Product
    • Latin America Revenue Forecast by Product
    • Middle East and North Africa Revenue Forecast by Product
    • Sub-Saharan Africa Revenue Forecast by Product
    • Russia & CIS Revenue Forecast by Product
    • Growth Opportunity 1: Silicon Carbide/Gallium Nitride Converters
    • Growth Opportunity 2: Inverter with PID Control
    • Growth Opportunity 3: Grid Forming Inverters
    • Benefits and Impacts of Growth Opportunities
    • Next Steps

Pricing

Currency Rates
How Do Licenses Work?

How Do Licenses Work?

The primary function of a report license is to define how many people within a company are authorized to use the purchased report. This is separate to how a report might be delivered. Unless specifically identified otherwise, the purchase option is Single User. Below is a helpful description of that license, along with a sampling of others most commonly offered.

  • This license allows only one user to have access to and to use/read the report. It is not one user at a time or one user group; it is an individual who will be reading and utilizing the report.

  • This license allows for the entire purchasing company to read and use the report. This is the license level that would allow for a report to be placed on an internal company shared drive for access by all employees of that direct company. This license does not extend to parent or sister company use.

  • This license is designed to allow an entire department within a company full access to a report. The departmental license is a great option for companies that have more than one location and the department is spread out all over the country/world

  • This license is for companies that have one location where they want the report to be accessible by all employees within that physical location.

  • This is the most flexible of the licensing options. Some publishers will allow you to get a license for a preset number of people (typically 5). These licenses are ideal for small work groups.

License options are at the discretion of each publisher. As such, not all licenses indicated above are available for every product. If you are uncertain of the best license for your needs or would like a license that is not proactively available, please contact us and we will be happy to assist.

Head shot

Questions or Comments?

Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
Chat Now
Contact Us