The global PV inverters market size is expected to be worth USD 18.98 Billion in 2025. It can surge to a valuation of USD 62.28 Billion by 2032. The market is anticipated to exhibit a robust CAGR of 18.5% during the forecast period (2025-2032).  

The market is fueled by a surge in solar PV inverters, integration of smart grids for sustainable energy supply, and demand for energy by residential and non-residential sectors. Supportive policies and tax incentives for early customers can drive the demand over the forecast period.

However, a dip in consumer confidence owing to the surge in prices of PV panels can limit the market growth.

Key Market Insights

The PV inverters market growth is driven by a surge in solar panel purchases, the embedding of AI, and financial incentives on installations introduced by governments.

• By product, the central PV inverter segment is expected to account for a 25.0% share in 2025. This can be attributed to the setups of three-phase string inverters and central PV inverters being utilized across North America. The improvement in the sizes of central PV inverters to increase their capacity can drive the segment’s growth.
• By end use, the commercial & industrial segment is anticipated to attain a 41.3% market share in 2025. The rising energy demand across industries and commercial complexes is predicted to drive the demand for PV inverters for commercial and industrial use. The carbon neutrality targets set by governments can convince industrial centers to integrate PV inverters and reduce their carbon footprint.
• By region, the Asia Pacific region is anticipated to capture at least 40% market share in 2025. This can be on account of the expansion of the e-commerce sector and the rapid urbanization of cities. The transportation of goods during sales and religious festivals can facilitate the market growth in the region.

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PV Inverters Market Report Coverage

Market Dynamics

The PV inverters market growth is driven by the massive demand for PV panels by the utility sector. The addition of PV capacity by countries to sustain their energy supply is facilitating the market growth. PV inverters are replacing end-of-life units and being integrated as new units as part of a sustainable power ecosystem.

The development of hybrid inverters that connect solar panels to energy storage systems can induce demand in the market. The need for technologies that keep power grids functional amid the shutdown of fossil fuel-powered plants can bode well for the market. Government policies like the commitment by the European Union to be carbon-neutral by 2050 can fuel innovation in technology and drive the launch of new PV inverters over the forecast period.

Market Opportunity: Policies for Energy Peer-to-Peer Trading

Operators of PV inverters, decentralized wind power, and energy storage can aggregate their resources for managing energy assets. Innovations in electricity selling can allow companies to meet their energy demands without relying on public utilities. In China, the government’s National Energy Administration (NEA) passed a set of measures to enable peer-to-peer energy trading on December 06, 2024.

Market Challenge: Grid Instability and Regulatory Barriers to Negatively Affect Market Growth

The issues pertaining to grid stability as the demand for energy grows can affect the market growth. The need for better sensors for monitoring grids and solar inverters can bode well for the market in the long run. Additionally, regulatory barriers for smart barriers and PV inverters across regions can limit the market.

Analyst’s View

• The rise of renewable energy schemes to meet the energy demand of industries and customers can drive the PV inverters market growth.
• The central PV inverter segment is expected to experience a surge in demand owing to increased investments in renewable energy schemes.
• Key players are launching new products and building production facilities overseas to lower their operational costs.

Recent Developments

Sungrow Power Supply Co. Ltd, a leader in renewable energy technologies, announced that all of its inverter models were approved by Brazil’s National Electric System Operator on July 24, 2025.

Competitor Insights

• Eaton Corporation plc
• SolarEdge Technologies Inc.
• Huawei Technologies Co., Ltd.
• Emerson Electric Co.
• Fronius International GmbH
• Fimer Group
• ABB Ltd.
• SMA Solar Technology AG
• Delta Electronics, Inc.

Market Segmentation

• By Product
• String PV Inverter
• Central PV Inverter
• Micro PV Inverter
• Other PV Inverter
• By End Use
• Utilities
• Commercial & Industrial
• Residential

Regional Insights

• North America
  • U.S.
  • Canada
• Latin America
  • Brazil
  • Argentina
  • Mexico
  • Rest of Latin America
• Europe
  • Italy
  • Germany
  • U.K.
  • Spain
  • Russia
  • France
  • Rest of Europe
• Asia Pacific
  • South Korea
  • India
  • China
  • Japan
  • Australia
  • ASEAN
  • Rest of Asia Pacific
• Middle East
  • GCC Countries
  • Israel
  • Rest of Middle East
• Africa
  • South Africa
  • North Africa
  • Central Africa