Solar inverter industry development trend market size and growth trend
1. Global market size
● According to the research data of Betz Consulting, the global solar inverter market size reached US$11 billion in 2024.
● It is expected that the global solar inverter market will continue to grow at a certain annual compound growth rate (CAGR) during 2024-2032.
● Other data show that the global photovoltaic inverter market size has also shown a high-speed growth trend in recent years, and is expected to reach nearly US$40 billion by 2027.
2. Regional market size
● United States: With the improvement of awareness of renewable energy, the US solar inverter market size will continue to grow, and is expected to reach US$2.7 billion by 2032.
● Japan: Dominates the East Asian solar inverter market, and the market size is expected to reach US$800 million by 2032.
● India: High demand for high-efficiency inverters will promote market growth, and the market size is expected to reach US$700 million by 2032.
● China: As the world's largest photovoltaic inverter production base and market, its market size is expanding rapidly, and it is expected that the market size will reach more than RMB 80 billion by 2027.
The solar inverter industry will maintain a steady growth trend in the next few years, the market size will continue to expand, the competition landscape will become increasingly fierce, and technological innovation and product upgrades will become the key driving force for the development of the industry. At the same time, policy support, market demand and the development of emerging technologies will also bring new opportunities and challenges to the industry.
