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Solar Inverter Market By Technology Segment (Central Inverter, String Inverter, Micro Inverter, Others), By Application (Utility Scale, Residential Scale, Small Commercial Scale, Large Commercial Scale, Industrial Scale), By Voltage (Automotive, 1,500 V) – Growth, Future Prospects And Competitive Analysis, 2019 – 2027

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Increasing Adoption of Renewable Sources of Energy to Ensure Rapid Growth for the Solar Inverter Market

Globally, the solar inverter market is expected to grow at a CAGR of 5.5% during the forecast period from 2019 to 2027, starting from US$6.9 Bn in 2018.

The solar inverter or photovoltaic (PV) inverter is used to convert the direct current (DC) produced from the solar panels into alternating current (AC), which can be used for commercial, residential, and industrial purposes. The rising demand for energy and power is an essential factor for the growth of the solar inverter globally, as are the prices for non-renewable sources of energy. Moreover, increasing pollution due to the burning of fuels and concerns related to greenhouse emissions are major factors driving the solar inverter market.

One of the major benefits of the solar inverter is that the energy it produces is pollution-free and environmentally friendly. Additionally, the technological advancements and investments made by companies and organizations are also fueling the growth of the market. In 2017, a total of 99.1 GW of grid-connected solar was installed. In several countries, the government is also supporting the production of electricity from solar energy by providing subsidies and other benefits to individuals.

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Market Synopsis

By technology, the central inverters dominate the solar inverter market.

Based on technology, the solar inverter has been segmented as a central inverter, a string inverter, a micro-inverter, and others. Central inverters hold the largest market share. In the central inverters, the solar panels of the whole system are connected in series, through which the DC power is converted to AC with the help of solar converters. Central inverters have their main application in large-scale industries. When compared with a string and microcomputer, the investment for the central inverter is low per watt. Further, the rising demand for energy from various industries is also boosting the growth of the market.

Asia Pacific to Register the Fastest Growth

The solar inverter market is led by the Asia-Pacific region due to the presence of various countries such as China, India, Japan, and others and investments made by the players in the region. The rising regulations and rising demand for power in the region boost the growth of the market. The Asia-Pacific region holds more than 50% of the market share in solar inverters. In 2017, China installed more than half of the world’s solar capacity when compared to worldwide. The low cost of the power generated is another factor in the growth of the market in the region.

Some of the prominent players operating in the solar inverter market include Huawei Technologies Co. Ltd., TBEA Sunoasis Co. Ltd., ABB Ltd., Schneider Electric SE, Sungrow Power Supply Co. Ltd., Omron Corporation, Siemens AG, General Electric Company, Enphase Energy Inc., SMA Solar Technology AG, SolarEdge Technologies Inc., Sineng Electric Co. Ltd., Kstar New Energy Co. Ltd., Mitsubishi Electric Corporation, Tabuchi Electric Co. Ltd., TMEIC Corporation, and TMEIC Corporation.

Historical and Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The solar inverter market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global solar inverter market based on technology, voltage, application, and geography. Key segments covered in the report are as follows:

Key questions are answered in this report.

  • What was the market size of solar inverters in 2018, and what is the forecast up to 2027?
  • Which is the largest regional market for central inverters?
  • What are the major trends followed in the solar inverter market across different regions?
  • Who are the key solar inverter companies leading the market?
  • What are the key strategies adopted by the leading solar inverter companies on the market?

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Unique data points of this report

  • Statistics on solar inverter penetration and spending worldwide
  • Recent trends across different regions in terms of the adoption of solar inverters for various vehicles
  • Notable developments are going on in the solar inverter industry.
  • Attractive investment propositions for segments as well as geography
  • Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)

Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Market Segmentation
1.4 Research Methodology
1.4.1 Phase I – Secondary Research
1.4.2 Phase II – Primary Research
1.4.3 Phase III – Expert Panel Review
1.4.4 Assumptions
1.4.5 Approach Adopted

Chapter 2 Executive Summary
2.1 Market Snapshot: Global SI Market
2.2 Global SI Market, By Technology Segment, 2018 (US$ Bn)
2.3 Global SI Market, By Application, 2018 (US$ Bn)
2.4 Global SI Market, By Voltage, 2018 (US$ Bn)
2.5 Global SI Market, By Geography, 2018 (US$ Bn)

Chapter 3 Market Dynamics
3.1 Introduction
3.1.1 Global SI Market Value, 2017 – 2027, (US$ Bn)
3.2 Market Drivers
3.3 Market Growth Inhibitors
3.3.1 Impact Analysis of Drivers and Restraints
3.4 Key Market Trends
3.5 Attractive Investment Proposition, by Geography, 2018
3.6 Competitive Analysis
3.6.1 Market Positioning of Key SI Vendors, 2018
3.6.2 Key Strategies Adopted by the Leading Players

Chapter 4 Global Solar Inverter (SI) Market Analysis, by Technology Segment, 2017 – 2027 (US$ Bn)
4.1 Overview
4.2 Central Inverter
4.3 String Inverter
4.4 Micro Inverter
4.5 Others

Chapter 5 Global Solar Inverter (SI) Market Analysis, by Application, 2017 – 2027 (US$ Bn)
5.1 Overview
5.2 Utility Scale
5.3 Residential Scale
5.4 Small Commercial Scale
5.5 Large Commercial Scale
5.6 Industrial Scale

Chapter 6 Global Solar Inverter (SI) Market Analysis, by Voltage, 2017 – 2027 (US$ Bn)
6.1 Overview
6.2 Automotive
6.3 < 1,000 V
6.4 1,000 – 1,499 V
6.5 > 1,500 V

Chapter 7 North America Solar Inverter (SI) Market Analysis, 2017 – 2027 (US$ Bn)
7.1 Overview
7.2 North America SI Market Analysis, By Technology Segment, 2017 – 2027
7.2.1 Market Analysis
7.3 North America SI Market Analysis, By Application, 2017 – 2027
7.3.1 Market Analysis
7.4 North America SI Market Analysis, By Voltage, 2017 – 2027
7.4.1 Market Analysis
7.5 North America SI Market Analysis, By Region/Country, 2017 – 2027
7.5.1 U.S.
7.5.1.1 U.S. SI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
7.5.1.2 U.S. SI Market Value, By Application, 2017 – 2027 (US$ Bn)
7.5.1.3 U.S. SI Market Value, By Voltage, 2017 – 2027 (US$ Bn)
7.5.2 Rest of North America
7.5.2.1 Rest of North AmericaSI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
7.5.2.2 Rest of North AmericaSI Market Value, By Application, 2017 – 2027 (US$ Bn)
7.5.2.3 Rest of North AmericaSI Market Value, By Voltage, 2017 – 2027 (US$ Bn)

Chapter 8 Europe Solar Inverter (SI) Market Analysis, 2017 – 2027 (US$ Bn)
8.1 Overview
8.2 Europe SI Market Analysis, By Technology Segment, 2017 – 2027
8.2.1 Market Analysis
8.3 Europe SI Market Analysis, By Application, 2017 – 2027
8.3.1 Market Analysis
8.4 Europe SI Market Analysis, By Voltage, 2017 – 2027
8.4.1 Market Analysis
8.5 Europe SI Market Analysis, By Region/Country, 2017 – 2027
8.5.1 U.K.
8.5.1.1 U.K. SI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
8.5.1.2 U.K.SI Market Value, By Application, 2017 – 2027 (US$ Bn)
8.5.1.3 U.K.SI Market Value, By Voltage, 2017 – 2027 (US$ Bn)
8.5.2 Germany
8.5.2.1 Germany SI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
8.5.2.2 GermanySI Market Value, By Application, 2017 – 2027 (US$ Bn)
8.5.2.3 GermanySI Market Value, By Voltage, 2017 – 2027 (US$ Bn)
8.5.3 France
8.5.3.1 France SI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
8.5.3.2 FranceSI Market Value, By Application, 2017 – 2027 (US$ Bn)
8.5.3.3 FranceSI Market Value, By Voltage, 2017 – 2027 (US$ Bn)
8.5.4 Rest of Europe
8.5.4.1 Rest of Europe SI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
8.5.4.2 Rest of EuropeSI Market Value, By Application, 2017 – 2027 (US$ Bn)
8.5.4.3 Rest of EuropeSI Market Value, By Voltage, 2017 – 2027 (US$ Bn)

Chapter 9 Asia Pacific Solar Inverter (SI) Market Analysis, 2017 – 2027 (US$ Bn)
9.1 Overview
9.2 Asia Pacific SI Market Analysis, By Technology Segment, 2017 – 2027
9.2.1 Market Analysis
9.3 Asia Pacific SI Market Analysis, By Application, 2017 – 2027
9.3.1 Market Analysis
9.4 Asia Pacific SI Market Analysis, By Voltage, 2017 – 2027
9.4.1 Market Analysis
9.5 Asia Pacific SI Market Analysis, By Region/Country, 2017 – 2027
9.5.1 China
9.5.1.1 China SI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
9.5.1.2 ChinaSI Market Value, By Application, 2017 – 2027 (US$ Bn)
9.5.1.3 ChinaSI Market Value, By Voltage, 2017 – 2027 (US$ Bn)
9.5.2 Japan
9.5.2.1 Japan SI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
9.5.2.2 JapanSI Market Value, By Application, 2017 – 2027 (US$ Bn)
9.5.2.3 JapanSI Market Value, By Voltage, 2017 – 2027 (US$ Bn)
9.5.3 India
9.5.3.1 India SI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
9.5.3.2 IndiaSI Market Value, By Application, 2017 – 2027 (US$ Bn)
9.5.3.3 IndiaSI Market Value, By Voltage, 2017 – 2027 (US$ Bn)
9.5.4 Rest of Asia Pacific
9.5.4.1 Rest of Asia Pacific SI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
9.5.4.2 Rest of Asia PacificSI Market Value, By Application, 2017 – 2027 (US$ Bn)
9.5.4.3 Rest of Asia PacificSI Market Value, By Voltage, 2017 – 2027 (US$ Bn)

Chapter 10 Rest of the World (RoW) Solar Inverter (SI) Market Analysis, 2017 – 2027 (US$ Bn)
10.1 Overview
10.2 RoWSI Market Analysis, By Technology Segment, 2017 – 2027
10.2.1 Market Analysis
10.3 RoWSI Market Analysis, By Application, 2017 – 2027
10.3.1 Market Analysis
10.4 RoWSI Market Analysis, By Voltage, 2017 – 2027
10.4.1 Market Analysis
10.5 RoWSI Market Analysis, By Region/Country, 2017 – 2027
10.5.1 Middle East & Africa (MEA)
10.5.1.1 MEA SI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
10.5.1.2 MEASI Market Value, By Application, 2017 – 2027 (US$ Bn)
10.5.1.3 MEASI Market Value, By Voltage, 2017 – 2027 (US$ Bn)
10.5.2 Latin America
10.5.2.1 Latin America SI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
10.5.2.2 Latin AmericaSI Market Value, By Application, 2017 – 2027 (US$ Bn)
10.5.2.3 Latin AmericaSI Market Value, By Voltage, 2017 – 2027 (US$ Bn)

Chapter 11 Company Profiles
11.1 ABB Ltd.
11.2 Huawei Technologies Co. Ltd
11.3 Schneider Electric SE
11.4 Siemens AG
11.5 Omron Corporation
11.6 General Electric Company
11.7 SMA Solar Technology AG
11.8 Enphase Energy Inc.
11.9 SolarEdge Technologies Inc.
11.10 Kstar New Energy Co. Ltd
11.11 Delta Energy Systems Inc.
11.12 TMEIC Corporation
11.13 TBEA Sunoasis Co. Ltd.
11.14 Sungrow Power Supply Co Ltd
11.15 Mitsubishi Electric Corporation

List of Figures

FIG. 1 Global Solar Inverter (SI): Market Segmentation
FIG. 2 Global SI Market: Research Methodology
FIG. 3 Top-Down and Bottom Up Approach
FIG. 4 Global SI Market, By Technology Segment, 2018 (US$ Bn)
FIG. 5 Global SI Market, By Application, 2018 (US$ Bn)
FIG. 6 Global SI Market, By Voltage, 2018 (US$ Bn)
FIG. 7 Global SI Market, By Geography, 2018 (US$ Bn)
FIG. 8 Global SI Market Value, 2017 – 2027, (US$ Bn)
FIG. 9 Attractive Investment Proposition, by Geography, 2018
FIG. 10 Market Positioning of Key SIVendors, 2018
FIG. 11 Global SI Market Value Contribution, By Technology Segment, 2018 & 2027 (%)
FIG. 12 Global SI Market Value, by Central Inverter, 2017 – 2027, (US$ Bn)
FIG. 13 Global SI Market Value, by String Inverter, 2017 – 2027, (US$ Bn)
FIG. 14 Global SI Market Value, by Micro Inverter, 2017 – 2027, (US$ Bn)
FIG. 15 Global SI Market Value, by Others, 2017 – 2027, (US$ Bn)
FIG. 16 Global SI Market Value Contribution, By Application, 2018 & 2027 (%)
FIG. 17 Global SI Market Value, by Utility Scale 2017 – 2027, (US$ Bn)
FIG. 18 Global SI Market Value, by Residential Scale 2017 – 2027, (US$ Bn)
FIG. 19 Global SI Market Value, by Small Commercial Scale 2017 – 2027, (US$ Bn)
FIG. 20 Global SI Market Value, by Large Commercial Scale 2017 – 2027, (US$ Bn)
FIG. 21 Global SI Market Value, by Industrial Scale 2017 – 2027, (US$ Bn)
FIG. 22 Global SI Market Value Contribution, By Voltage, 2018 & 2027 (%)
FIG. 23 Global SI Market Value from Automotive, 2017 – 2027(US$ Bn)
FIG. 24 Global SI Market Value , by < 1,000 V, 2017 – 2027(US$ Bn)
FIG. 25 Global SI Market Value , by 1,000 – 1,499 V, 2017 – 2027 (US$ Bn)
FIG. 26 Global SI Market Value, by > 1,500 V, 2017 – 2027 (US$ Bn)
FIG. 27 North America SI Market Value, 2017 – 2027, (US$ Bn)
FIG. 28 Europe SI Market Value, 2017 – 2027, (US$ Bn)
FIG. 29 Asia Pacific SI Market Value, 2017 – 2027, (US$ Bn)
FIG. 30 RoWSI Market Value, 2017 – 2027, (US$ Bn)

List of Tables

TABLE 1 Market Snapshot: Global Solar Inverter (SI) Market
TABLE 2 Impact Indicators
TABLE 3 Impact Analysis of Drivers and Restraints
TABLE 4 North America SI Market Value, By Technology Segment, 2017 – 2027(US$ Bn)
TABLE 5 North America SI Market Value, By Application, 2017 – 2027(US$ Bn)
TABLE 6 North America SI Market Value, By Voltage, 2017 – 2027(US$ Bn)
TABLE 7 North America SI Market Value, By Region/Country, 2017 – 2027 (US$ Bn)
TABLE 8 U.S. SI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
TABLE 9 U.S. SI Market Value, By Application, 2017 – 2027 (US$ Bn)
TABLE 10 U.S. SI Market Value, By Voltage, 2017 – 2027 (US$ Bn)
TABLE 11 Rest of North AmericaSI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
TABLE 12 Rest of North AmericaSI Market Value, By Application, 2017 – 2027 (US$ Bn)
TABLE 13 Rest of North AmericaSI Market Value, By Voltage, 2017 – 2027 (US$ Bn)
TABLE 14 Europe SI Market Value, By Technology Segment, 2017 – 2027(US$ Bn)
TABLE 15 Europe SI Market Value, By Application, 2017 – 2027(US$ Bn)
TABLE 16 Europe SI Market Value, By Voltage, 2017 – 2027(US$ Bn)
TABLE 17 Europe SI Market Value, By Region/Country, 2017 – 2027 (US$ Bn)
TABLE 18 U.K. SI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
TABLE 19 U.K. SI Market Value, By Application, 2017 – 2027 (US$ Bn)
TABLE 20 U.K. SI Market Value, By Voltage, 2017 – 2027 (US$ Bn)
TABLE 21 Germany SI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
TABLE 22 Germany SI Market Value, By Application, 2017 – 2027 (US$ Bn)
TABLE 23 Germany SI Market Value, By Voltage, 2017 – 2027 (US$ Bn)
TABLE 24 France SI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
TABLE 25 France SI Market Value, By Application, 2017 – 2027 (US$ Bn)
TABLE 26 France SI Market Value, By Voltage, 2017 – 2027 (US$ Bn)
TABLE 27 Rest of Europe SI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
TABLE 28 Rest of Europe SI Market Value, By Application, 2017 – 2027 (US$ Bn)
TABLE 29 Rest of Europe SI Market Value, By Voltage, 2017 – 2027 (US$ Bn)
TABLE 30 Asia Pacific SI Market Value, By Technology Segment, 2017 – 2027(US$ Bn)
TABLE 31 Asia Pacific SI Market Value, By Application, 2017 – 2027(US$ Bn)
TABLE 32 Asia Pacific SI Market Value, By Voltage, 2017 – 2027(US$ Bn)
TABLE 33 Asia Pacific SI Market Value, By Region/Country, 2017 – 2027 (US$ Bn)
TABLE 34 China SI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
TABLE 35 China SI Market Value, By Application, 2017 – 2027 (US$ Bn)
TABLE 36 China SI Market Value, By Voltage, 2017 – 2027 (US$ Bn)
TABLE 37 Japan SI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
TABLE 38 Japan SI Market Value, By Application, 2017 – 2027 (US$ Bn)
TABLE 39 Japan SI Market Value, By Voltage, 2017 – 2027 (US$ Bn)
TABLE 40 India SI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
TABLE 41 India SI Market Value, By Application, 2017 – 2027 (US$ Bn)
TABLE 42 India SI Market Value, By Voltage, 2017 – 2027 (US$ Bn)
TABLE 43 Rest of Asia Pacific SI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
TABLE 44 Rest of Asia Pacific SI Market Value, By Application, 2017 – 2027 (US$ Bn)
TABLE 45 Rest of Asia Pacific SI Market Value, By Voltage, 2017 – 2027 (US$ Bn)
TABLE 46 RoW SI Market Value, By Technology Segment, 2017 – 2027(US$ Bn)
TABLE 47 RoW SI Market Value, By Application, 2017 – 2027(US$ Bn)
TABLE 48 RoW SI Market Value, By Voltage, 2017 – 2027(US$ Bn)
TABLE 49 RoW SI Market Value, By Region/Country, 2017 – 2027 (US$ Bn)
TABLE 50 MEA SI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
TABLE 51 MEA SI Market Value, By Application, 2017 – 2027 (US$ Bn)
TABLE 52 MEA SI Market Value, By Voltage, 2017 – 2027 (US$ Bn)
TABLE 53 Latin America SI Market Value, By Technology Segment, 2017 – 2027 (US$ Bn)
TABLE 54 Latin America SI Market Value, By Application, 2017 – 2027 (US$ Bn)
TABLE 55 Latin America SI Market Value, By Voltage, 2017 – 2027 (US$ Bn)
TABLE 56 ABB Ltd.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 57 Huawei Technologies Co. Ltd: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 58 Schneider Electric SE: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 59 Siemens AG.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 60 Omron Corporation: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 61 General Electric Company: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 62 SMA Solar Technology AG: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 63 Enphase Energy Inc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 64 SolarEdge Technologies Inc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 65 Kstar New Energy Co. Ltd: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 66 Delta Energy Systems Inc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 67 TMEIC Corporation.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 68 TBEA Sunoasis Co. Ltd.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 69 Sungrow Power Supply Co Ltd: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 70 Mitsubishi Electric Corporation.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)

Frequently Asked Question:

What is the size of Solar Inverter Market?

The market for Solar Inverter Market is expected to reach USD$ 6.9 Bn in 2027.

What is the Solar Inverter Market CAGR?

The Solar Inverter Market is expected to see significant CAGR growth over the coming years, at 5.5%.

What is the Forecast period considered for Solar Inverter Market?

The report is forecasted from 2019 -2027.

What is the base year considered for Solar Inverter Market?

The base year of this report is 2018.

Who are the major players in this market?

Omron Corporation, Siemens AG, General Electric Company, Enphase Energy Inc., SMA Solar Technology AG, SolarEdge Technologies Inc., Sineng Electric Co. Ltd., Kstar New Energy Co. are some of the major players in the global market.

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