Latest on the photovoltaic inverter market

What are the trends in the PV inverter market?

PV Inverter Market Trends Rising demand for storage along with PV systems: The growing demand for battery storage solutions in conjunction with photovoltaic or solar systems is having a substantive impact on the PV Inverter Market.

What is the outlook for solar PV inverter market?

The solar PV inverter market outlook is further being shaped by the rising environmental concerns about greenhouse emissions and the increasing cost of fossil fuels, which has resulted in the growing adoption of economical solar power and hence, solar inverters.

How big is the solar PV inverter market?

We’re here to help answer any questions about our products and services. The solar PV inverter market reached USD 8.45 billion in 2024 & expected to grow at 5.0% CAGR between 2025 and 2034, to reach USD 13.13 billion by 2034.

Which region has the largest solar PV inverter market share?

Asia Pacific is expected to account for the largest solar PV inverter market share, driven by the growing demand for renewable energy and the need for energy independence. The region is home to many developing countries, including China and India, where there is considerable growth in solar photovoltaic (PV) installations.

Why is solar PV inverter market development important?

Presently, solar PV inverters majorly find applications in the utilities and industrial sectors. Rising solar PV adoption, driven by improving cost competitiveness and energy transition policies, has been a significant factor for driving solar PV inverter market development.

What is the global PV inverter market share?

A growing number of solar installations in developing nations has also significantly contributed to growth of market in the region. Europe: The PV Inverter Market in Europe holds 10% share in the market and the presence of major players in the region. Figure 1. Global PV Inverter Market Share (%), By Region, 2025