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Solar PV Inverter Market Share, Growth Analysis, Industry Trends, and Forecast 2025-2033

  • Writer: ravinder imarc
    ravinder imarc
  • Mar 19
  • 3 min read


IMARC Group’s latest research report, titled “Solar PV Inverter Market Report by Technology (Central Inverters, String Inverters, Microinverters, and Others), Voltage (< 1000 V, 1000 – 1499 V, > 1500 V), Application (Utility Scale, Residential Scale, Small Commercial Scale, Large Commercial Scale, Industrial Scale), and Region 2025-2033,” offers a comprehensive analysis of the solar PV inverter market share. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.


How Big is the Solar PV Inverter Market?


The global solar PV inverter market size reached USD 8.7 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 12.6 Billion by 2033, exhibiting a growth rate (CAGR) of 4.18% during 2025-2033.



Global Solar PV Inverter Market Dynamics:


Rise of String Inverters:


Due to their ease of use and cost-effectiveness, string inverters are gaining traction on the market for solar PV inverters. These inverters work well for small-scale residential solar systems and commercial solar systems. String inverters are becoming more popular as the solar PV market continues to grow. They offer improved efficiency, increased power output and enhanced monitoring capabilities.


Growing Demand for Central Inverters:


High efficiency and reliability make central inverters ideal for large-scale solar plants. Central inverters are being demanded as utility-scale solar power projects and the falling costs of solar modules fuel the growing demand. Central inverters are being developed with increased power ratings, integrated energy storage, and advanced cooling systems by manufacturers.


Integration of Energy Storage Systems (ESS):


Integration of energy storage systems with solar PV inverters has become a major trend. ESS allows excess solar power generated during peak times to be stored and used during high demand periods or grid outages. Solar PV systems are more reliable and offer better value, especially in regions that have time-of-use tariffs.


According to the research report, here are some of the top leading companies operating in the solar PV inverter industry:


  • ABB Ltd, Schneider Electric SE

  • Siemens AG

  • Mitsubishi Electric Corporation

  • Omron Corporation

  • General Electric Company

  • SMA Solar Technology AG

  • Delta Energy Systems Inc.

  • Enphase Energy Inc.

  • SolarEdge Technologies Inc.

  • Huawei Technologies Co. Ltd

  • Kstar New Energy Co. Ltd

  • Sineng Electric Co. Ltd

  • Sungrow Power Supply Co Ltd

  • Tabuchi Electric Co. Ltd

  • TBEA Sunoasis Co. Ltd

  • Toshiba Corporation


Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/solar PV inverter-market


Trends in the Solar PV Inverter Market:


The solar PV inverter market is experiencing significant growth, driven by factors such as increasing government support, declining solar PV module costs, and rising energy demand. Key trends shaping the market include the development of high-efficiency inverters, the integration of advanced monitoring and control systems, and the emergence of modular inverter solutions. Additionally, the increasing focus on grid-tied and off-grid solar power systems is further driving the demand for solar PV inverters.


Global Solar PV Inverter Market Segmentation:


Breakup by Technology:


  • central inverter

  • string inverter

  • microinverter

  • others


Breakup by Application:


  • utility scale

  • residential scale

  • small commercial scale

  • large commercial scale

  • industrial scale


Breakup by voltage:


  • < 1,000 V

  • 1,000 – 1,499 V

  • > 1,500 V


Breakup by Region:


  • North America (United States, Canada)

  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)

  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)

  • Latin America (Brazil, Mexico, Others)

  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other


Note: Should you require specific information not included in the current report, we are pleased to offer customization options to meet your needs.


About Us:


IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.


IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.


Contact US:


IMARC Group

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Tel No:(D) +91 120 433 0800

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