Solar Inverter Industry Statistics

In this post, we will explore key statistics and trends in the global solar inverter industry. From market values and projections to regional insights and technological advancements, the solar inverter market continues to evolve rapidly. Join us as we delve into the latest data shaping this dynamic sector.

Statistic 1

"The global solar inverter market was valued at USD 12.84 billion in 2020."

Statistic 2

"The market is projected to reach USD 15.45 billion by 2025, at a CAGR of 9.04% from 2020 to 2025."

Statistic 3

"The major drivers for the growth of the solar inverter market are reducing costs, government support, and technological innovation."

Statistic 4

"The string inverter segment accounted for the largest share of the solar inverter market in 2019."

Statistic 5

"Asia Pacific led the global solar inverter market in 2019, especially in countries like China and India."

Statistic 6

"Europe is one of the largest investors in the solar energy market, with Germany being the country installing the largest number of solar PV systems."

Statistic 7

"In the U.S. market, solar inverter shipments surpassed 14 GW in 2019."

Statistic 8

"The utility segment is anticipated to be the fastest-growing end-user segment in the solar inverter market."

Statistic 9

"Chinese suppliers led the global inverter shipments, accounting for over 70% of total shipments in 2018."

Statistic 10

"The top five global suppliers for inverters in terms of shipments are Huawei, Sungrow, SMA Solar, ABB, and TBEA."

Statistic 11

"Residential solar inverter market revenue is expected to exceed USD 2.5 billion by 2027."

Statistic 12

"One of the latest technological advancements in this sector is the use of Artificial Intelligence (AI) to improve solar inverter efficiency."

Statistic 13

"String inverters are expected to account for about 42% of the inverter market by 2025."

Statistic 14

"The global solar micro inverter market would register a 15.22% compound annual growth rate between 2021 to 2026."

Statistic 15

"Overall sales in the solar inverter market have increased by 50 percent YoY from 2018 to 2019."

Statistic 16

"The market for hybrid inverters is expected to increase by over 20% from 2021-2026."

Statistic 17

"The industrial sector is expected to hold the second-largest share in the global solar inverter market throughout the forecast period."

Statistic 18

"North America solar inverter market size is predicted to surpass an annual deployment of 24 GW by 2026."

Statistic 19

"Technological innovation has led to price drops of about 52% since 2010 for solar inverters."

In conclusion, the global solar inverter market is experiencing significant growth, driven by various factors such as reducing costs, government support, and technological advancements. The industry is projected to reach USD 15.45 billion by 2025, with key regions like Asia Pacific and Europe leading the market. Chinese suppliers dominate the market, and new technologies like Artificial Intelligence are being incorporated to enhance efficiency. The rise of string and micro inverters, along with the increasing demand in the utility and residential sectors, indicates a promising future for the solar inverter industry.