Rapid investment in the solar energy sector, technological advancements or development of solar inverters, and the rise in installation of utility-based solar plants are among the key factors driving the solar PV inverter market. The Solar PV Inverter Market size is projected to reach US$ 8,673.56 million by 2030 from US$ 17,041.24 million in 2022. The market is expected to register a CAGR of 7.8% in 2022–2030.
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Market Segmentation:
By Product Type
- String
- Micro
- Central
By Phase
- Single Phase
- Three Phase
By Connectivity
- Standalone
- On-grid
By Application
- Residential and Community
- Commercial and Industrial
- Utility
Top Market Leaders:
- Delta Electronics, Inc.
- FIMER S.P.A.
- FRONIUS International GmbH
- GINLONG Technologies
- Huawei Technologies Co., Ltd.
- SMA Solar Technology AG
- Solaredge Technologies, Inc.
- Sungrow Power Supply Co., Ltd.
- Power Electronics S.L.
- Growatt New Energy
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