Global Solar PV Inverters Market Growth 2024-2030

Global Solar PV Inverters Market Growth 2024-2030

Solar PV Inverter is one power transfer apparatus, which is used to transfer the DC power generated through PV to AC power. For the reverse process of rectification, the apparatus is so called "inverter".When solar cells are disposed in sunlight, it produces direct curren. However the supply system in the form of DC power has an extremely limited. For example, fluorescent lamps, televisions, refrigerators, electric fans and so on cannot be used directly with DC power supply, and most electric machinery are as well. In addition, when the power supply needs to increase voltage or lower voltage, it is simply adding a Transformer in AC power system, while lifting technology of voltage in a DC system is much more complex. Therefore, in addition to direct use of communications, weather and Others special DC power users, the production of electricity need to be equipped with a Solar PV Inverter in PV systems.

The global Solar PV Inverters market size is projected to grow from US$ 5901.8 million in 2023 to US$ 7899.7 million in 2030; it is expected to grow at a CAGR of 4.3% from 2024 to 2030.

LP Information, Inc. (LPI) ' newest research report, the “Solar PV Inverters Industry Forecast” looks at past sales and reviews total world Solar PV Inverters sales in 2023, providing a comprehensive analysis by region and market sector of projected Solar PV Inverters sales for 2024 through 2030. With Solar PV Inverters sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Solar PV Inverters industry.

This Insight Report provides a comprehensive analysis of the global Solar PV Inverters landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Solar PV Inverters portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Solar PV Inverters market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Solar PV Inverters and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Solar PV Inverters.

It is expected that global demand for photovoltaic products will remain high in the next few years. According to our PV & Solar Research Center, by the end of 2022, the global cumulative installed photovoltaic power generation capacity is about 1180 GW. According to the data of China Photovoltaic Industry Association, the global newly installed photovoltaic capacity in 2022 is about 230 GW, and this number in 2023 is predicted to be 280-330 GW. According to the data of the Ministry of Industry and Information Technology, the total output value of China's photovoltaic industry exceeded 1.4 trillion yuan in 2022. From the perspective of production value, mainland China is still the global center of the PV industry. According to the International Energy Agency, China market share in all key products of the supply chain have exceeded 80%. Among them, the production capacity of silicon wafers, solar cells, and components accounts for as high as 98%, 85% and 77%, respectively. According to the data released by the European Photovoltaic Association, 27 EU countries gained a new PV installed capacity of 41.4 GW in 2022. According to the report of the US Solar Energy Industries Association (SEIA), the US held a new PV installed capacity of less than 19 GW in 2022. But it is estimated that from 2023, the average annual growth rate of new photovoltaic installed capacity will exceed 21%. In terms of Japan, based on data from Fitch and the US Energy Information Administration (EIA), in 2022, Japan's newly installed photovoltaic capacity was 3.100 GW.

This report presents a comprehensive overview, market shares, and growth opportunities of Solar PV Inverters market by product type, application, key manufacturers and key regions and countries.

Segmentation by type
Microinverter (below 1KW)
Three-phase Low-power Inverter (below 99KW)
Three-phase High-power Inverter (Above 99KW)

Segmentation by application
Residential System
Commercial System
Utility System

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Huawei
Sungrow
SMA
Power Electronics
FIMER (ABB)
SolarEdge
Sineng
Ingeteam
Goodwe
KSTAR
Ginlong Solis
Enphase
Chint Power Systems
Fronius
TMEIC
Growatt
TBEA
Kehua Hengsheng
SAJ
Siemens (KACO)
Delta Energy Systems
Hitachi
East Power
Tabuchi Electric
Yaskawa-Solectria Solar
Apsystems
NEP
JFY
NEGO
Schneider Electric

Key Questions Addressed in this Report

What is the 10-year outlook for the global Solar PV Inverters market?

What factors are driving Solar PV Inverters market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Solar PV Inverters market opportunities vary by end market size?

How does Solar PV Inverters break out type, application?

Please note: The report will take approximately 2 business days to prepare and deliver.