Global Solar Hybrid Inverter Market Analysis & Trends - Industry Forecast to 2030

Global Solar Hybrid Inverter Market Analysis & Trends - Industry Forecast to 2030

Solar Hybrid Inverter: Market Size

From $14.48 billion in 2024, the global Solar Hybrid Inverter market is projected to reach $29.98 billion by 2030. Based on our analysis the market is expected to grow at a CAGR of 12.9% from 2024 - 2030 timeframe. Some of the prominent trends that the market is witnessing include increasing demand for power, growing awareness regarding renewable energy, and rising investments in green energy.

Global Solar Hybrid Inverter Market: Market Dynamics

The primary growth drivers of the global solar hybrid inverter market include rising investments in solar power systems and favorable government initiatives and policies. These policies are likely to boost the solar hybrid inverter industry as these policies will encourage the use of efficient solar devices including solar hybrid inverters. Moreover, a solar hybrid inverter is a solar hybrid UPS system with two inbuilt chargers such as grid chargers and solar chargers and provide instant power supply in case of grid power failure.

On the other hand, the higher initial investment is likely to obstruct the profit boundaries. In addition, increasing adoption of renewable energies will further boost for the Solar Hybrid market.

Impact of COVID-19 on Solar Hybrid Inverter

Covid-19 pandemic has caused considerable effect on the momentum of growth of the solar hybrid market. The worldwide lockdowns have negatively impacted the sector to a certain extend. COVID-19 has caused major ructions across the energy sector and threatens to undermine efforts to accelerate clean energy transition. Wide-scale suspension of economic activity, supply chain disruption and employee health concerns have created supply and demand shocks across the energy sector.

By End User

Commercial Segment Dominate the Market in 2024

The commercial segment made huge revenue in 2024 and growing its prominence during the forecast period. Dependence on diesel adds huge operating cost in the annual expenditure of commercial end users. These concern factors create huge opportunity for implementing hybrid power solutions in commercial sector.

By Geography

Asia Pacific Region is Leading in the Global Market Place

Asia Pacific region is likely to have a huge demand in the forecast period owing to the expansion of operations of major players in the region. For instance, in 2019, Sungrow, one of the leading inverter suppliers for the renewable sector is accelerating its foothold in South Korea and Vietnam.

List of the Key Players Profiled in the Market Include:

• Schneider Electric
• Havells
• Su-Kam Power Systems
• Flin Energy
• Luminous
• Microtek Inverters
• Tabuchi Electric
• Voltronic Power Technology
• Redback Technologies
• Delta Energy Systems
• EAST Group
• Pure Volt
• KACO New Energy
• SolarEdge Technologies
• SolaX Power

List of the Regions/Countries Profiled in the Market Include:

North America
• US
• Canada
• Mexico
Europe
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• UAE
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others