Solar Inverters/PV Inverters Market Size, Share, Trends, Industry Analysis Report: By Type (Central Inverters, String Inverters, and Microinverters), Deployment, End Users, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East &

The global solar inverters/PV inverters market size is expected treach USD 24.63 billion by 2034, according ta new study by Polaris Market Research. The report “Solar Inverters/PV Inverters Market Size, Share, Trends, Industry Analysis Report: By Type (Central Inverters, String Inverters, and MicrInverters), Deployment, End Users, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034” gives a detailed insight intcurrent market dynamics and provides analysis on future market growth.

The global energy demand is increasing, leading tthe exploration of new energy sources. Solar energy, which converts sunlight intelectricity, is gaining traction. Solar inverters/PV inverters play a crucial role in solar energy systems by converting direct current (DC) from solar panels intalternating current (AC). The AC electricity from these inverters can be used tpower household appliances or connected tthe grid.

The solar inverters/PV inverters market demand is experiencing growth due trising environmental concerns and the need treduce carbon emissions. The increased demand for clean energy alternatives and optimized solar power systems is significantly boosting market expansion.

The growing adoption of electric vehicles (EVs) is one of the major solar inverters/PV inverters market trends, expected tboost market revenue in the upcoming years. As EV adoption accelerates, the demand for clean charging infrastructure rises, further increasing the need for efficient solar power systems. Solar inverters, which are essential for converting solar energy intusable electricity, play a key role in this dynamic, contributing ta sustainable and stable energy future.

Rising focus on technological advancements toptimize the efficiency and flexibility of solar inverters is projected tcreate lucrative solar inverters/PV inverters market opportunities during the forecast period.

Key Highlights of Solar Inverters/PV Inverters Market Report

Asia Pacific dominated the global solar inverters/PV inverters market with a revenue share of 46.10% in 2024. The regional market growth is primarily fueled by the growing number of solar installations in countries such as Japan and China.

The Europe solar inverters/PV inverters market is expected tgrow in the coming years, owing trising energy prices and the implementation of favorable government policies.

The string inverters segment, by type, dominated the market with the largest revenue share of 49.10% in 2024. The dominance of the segment can be attributed tvarious benefits, including high efficiency and reliability.

The utilities segment, based on end users, accounted for the largest market share of 46.33% in 2024. Growing renewable energy demand, reduced solar devices and equipment costs, and increasing government funding are among the key factors driving the growth of the utility segment.

A few of the key players in the solar inverters/PV inverters market are Huawei; Sungrow Power Supply; SMA Solar Technology AG; ABB Ltd.; Sineng; TBEA; TMEIC; Schneider Electric; SolarEdge Technologies; Power Electronics; KACO New Energy Inc.; Fronius; Wuxi Sineng; SunPower Corporation; Delta Electronics, Inc.; Hitachi Hi-Rel Power Electronics Pvt. Ltd.; and Siemens AG.

Polaris Market Research has segmented the solar inverters/PV inverters market report on the basis of type, deployment, end users, and region:

By Type Outlook (Revenue – USD Billion, 2020–2034)

Central Inverters

MicrInverters

String Inverters

By Deployment Outlook (Revenue – USD Billion, 2020–2034)

On-Grid

Off-Grid

By End Users Outlook (Revenue – USD Billion, 2020–2034)

Utilities

Commercial

Industrial

By Regional Outlook (Revenue – USD Billion, 2020–2034)

North America

US

Canada

Europe

Germany

France

UK

Italy

Spain

Netherlands

Russia

Rest of Europe

Asia Pacific

China

Japan

India

Malaysia

South Korea

Indonesia

Australia

Vietnam

Rest of Asia Pacific

Middle East & Africa

Saudi Arabia

UAE

Israel

South Africa

Rest of the Middle East & Africa

Latin America

Mexico

Brazil

Argentina

Rest of Latin America Show more