GITNUXREPORT 2026

Solar Inverter Industry Statistics

The solar inverter market continues its rapid global expansion, driven by strong demand and technological innovation.

Min-ji Park

Min-ji Park

Research Analyst focused on sustainability and consumer trends.

First published: Feb 13, 2026

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Key Statistics

Statistic 1

Global solar inverter market to reach USD 45 billion by 2030.

Statistic 2

PV inverter shipments forecast 800 GWac by 2028.

Statistic 3

CAGR 14% for hybrid inverters to 2032.

Statistic 4

Microinverters to grow 20% CAGR to 2030.

Statistic 5

Utility-scale to dominate 55% share by 2030.

Statistic 6

Storage-integrated inverters 40% market by 2028.

Statistic 7

China shipments peak at 400 GWac by 2026.

Statistic 8

Europe 100 GWac annual additions by 2030.

Statistic 9

US inverter demand 50 GWac/year by 2030.

Statistic 10

India 50 GW PV inverters annually by 2030.

Statistic 11

Efficiency to hit 99.5% standard by 2028.

Statistic 12

2000V systems commercial by 2027.

Statistic 13

V2G capability in 70% new inverters by 2030.

Statistic 14

ASP to fall to $0.05/Wac by 2030.

Statistic 15

Residential segment CAGR 12% to 2030.

Statistic 16

Latin America 25 GWac/year by 2030.

Statistic 17

AI/ML in inverters for 10% yield gain by 2028.

Statistic 18

Off-grid market doubles to USD 5B by 2030.

Statistic 19

Top 10 vendors 80% share by 2028 consolidation.

Statistic 20

Floating PV inverters specialized 5 GWac by 2030.

Statistic 21

Carbon-neutral manufacturing by 2030 for leaders.

Statistic 22

Grid-forming inverters mandatory post-2025.

Statistic 23

Southeast Asia 20 GWac/year by 2030.

Statistic 24

Australia 10 GW annual rooftop by 2030.

Statistic 25

Middle East 50 GW utility pipeline to 2030.

Statistic 26

Digital substations with inverters 30% Europe 2030.

Statistic 27

Huawei held 29% global PV inverter market share in 2023.

Statistic 28

Sungrow captured 23% market share in 2023 shipments.

Statistic 29

SMA Solar Technology 7% share in Europe 2023.

Statistic 30

Ginlong Solis 8.5% global share in 2023.

Statistic 31

Growatt reached 6% market share globally 2023.

Statistic 32

GoodWe 5.2% share in residential segment 2023.

Statistic 33

Fronius 4.8% in Australia market 2023.

Statistic 34

Enphase Energy dominated microinverters with 54% US share 2023.

Statistic 35

ABB (Fimer) 3.5% Europe utility share 2023.

Statistic 36

Deye 4.1% in hybrid inverters 2023.

Statistic 37

Power Electronics 2.8% Latin America share 2023.

Statistic 38

SolarEdge 12% global MLPE-integrated share 2023.

Statistic 39

TMEIC 3.2% US utility market 2023.

Statistic 40

Kstar 2.9% China domestic share 2023.

Statistic 41

Delta Electronics 2.5% Asia Pacific 2023.

Statistic 42

Schneider Electric 1.8% commercial segment 2023.

Statistic 43

Hoymiles 3.7% microinverter growth leader 2023.

Statistic 44

Afore 1.6% emerging markets share 2023.

Statistic 45

Chint Power 2.2% string inverter share 2023.

Statistic 46

Fimer (ex-ABB) rebounded to 4% Europe 2023.

Statistic 47

Seraphim 1.4% in India market 2023.

Statistic 48

Omron 1.1% Japan residential 2023.

Statistic 49

Victron Energy 2.3% off-grid niche 2023.

Statistic 50

EPEVER 0.9% budget segment China 2023.

Statistic 51

Lingyang 1.7% Southeast Asia 2023.

Statistic 52

Global solar inverter market size reached USD 18.2 billion in 2023.

Statistic 53

Solar inverter market CAGR projected at 13.4% from 2024 to 2030.

Statistic 54

String inverter segment held 45% market share in 2023.

Statistic 55

Residential solar inverters accounted for 28% of global revenue in 2023.

Statistic 56

Utility-scale inverters grew by 15.2% YoY in 2023 shipments.

Statistic 57

Asia Pacific dominated with 62% of global market share in 2023.

Statistic 58

Central inverters market valued at USD 5.6 billion in 2023.

Statistic 59

Microinverter shipments increased 22% in 2023 globally.

Statistic 60

Hybrid inverters captured 18% market share in 2023.

Statistic 61

Europe solar inverter market grew 11% in 2023.

Statistic 62

US solar inverter installations reached 25 GW in 2023.

Statistic 63

China solar inverter production capacity hit 500 GW in 2023.

Statistic 64

Commercial & industrial segment grew 14% YoY in 2023.

Statistic 65

Global PV inverter shipment volume was 536 GWac in 2023.

Statistic 66

Weighted average inverter price fell to $0.08/Wac in 2023.

Statistic 67

India solar inverter market valued at USD 1.2 billion in 2023.

Statistic 68

Latin America inverter market expanded 19% in 2023.

Statistic 69

Off-grid inverters held 12% share in emerging markets 2023.

Statistic 70

Single-phase inverters dominated residential with 55% share 2023.

Statistic 71

Three-phase inverters grew fastest at 14.5% CAGR to 2030.

Statistic 72

Middle East & Africa inverter market at USD 0.9 billion 2023.

Statistic 73

Transformerless inverters 70% of shipments in 2023.

Statistic 74

Australia solar inverter sales up 16% to AUD 1.1B in 2023.

Statistic 75

Global storage-integrated inverters up 35% in 2023.

Statistic 76

Japan residential inverter market shrank 5% in 2023.

Statistic 77

Southeast Asia inverter demand rose 25% YoY 2023.

Statistic 78

Canada PV inverter capacity added 4 GW in 2023.

Statistic 79

Global inverter ASP declined 18% in 2023.

Statistic 80

Brazil solar inverter market reached BRL 5B in 2023.

Statistic 81

South Korea utility inverter tenders 10 GW in 2023.

Statistic 82

Asia Pacific solar inverter market 62% global share 2023.

Statistic 83

China 48% of global inverter shipments in 2023.

Statistic 84

Europe installed 67 GW PV with 50 GWac inverters 2023.

Statistic 85

US residential inverters 12 GWac added 2023.

Statistic 86

India 18 GW PV capacity with 14 GW inverters 2023.

Statistic 87

Australia 4.5 GW rooftop PV inverters 2023.

Statistic 88

Germany 14 GW new PV, 11 GWac inverters 2023.

Statistic 89

Brazil 12 GW distributed solar inverters 2023.

Statistic 90

Japan 8 GW residential/commercial inverters 2023.

Statistic 91

Middle East 5 GW utility inverters tendered 2023.

Statistic 92

Southeast Asia 6.5 GW PV inverters Vietnam/others 2023.

Statistic 93

South Africa 2.8 GW C&I inverters 2023.

Statistic 94

Mexico 3.2 GW utility inverters 2023.

Statistic 95

Italy 5.5 GW new inverters ground-mount 2023.

Statistic 96

Spain 4 GW PV inverters added 2023.

Statistic 97

Turkey 2.5 GW rooftop inverters 2023.

Statistic 98

Chile 3 GW utility-scale inverters 2023.

Statistic 99

Poland 2 GW PV inverters 2023 growth leader CEE.

Statistic 100

Thailand 1.8 GW solar inverters 2023.

Statistic 101

Netherlands 2.2 GW residential inverters 2023.

Statistic 102

UAE 1.5 GW Mohammed bin Rashid projects 2023.

Statistic 103

France 1.2 GW new PV inverters 2023.

Statistic 104

Argentina 1 GW distributed inverters despite economy 2023.

Statistic 105

Huawei string inverters 85% efficient avg 2023 models.

Statistic 106

Sungrow launched 99% efficiency central inverters 2023.

Statistic 107

Enphase IQ8 microinverters achieve 97.5% CEC efficiency.

Statistic 108

SMA Sunny Highpower PEAK3 reaches 99% efficiency.

Statistic 109

SiC-based inverters reduce losses by 30% vs Si 2023.

Statistic 110

Hybrid inverters with 10kW bidirectional charging standard.

Statistic 111

AI-optimized MPPT algorithms boost yield 5-8%.

Statistic 112

Module-level power electronics (MLPE) adoption 40% US 2023.

Statistic 113

1500Vdc systems reduce BOS costs 15%.

Statistic 114

GaN semiconductors in residential inverters cut size 20%.

Statistic 115

Digital twin tech for predictive maintenance 95% uptime.

Statistic 116

Wireless monitoring reduces cabling 25% in new designs.

Statistic 117

Arc-fault protection mandatory, reduces fires 99%.

Statistic 118

Rapid shutdown compliance in 98% US models 2023.

Statistic 119

IV curve tracing improves shading tolerance 12%.

Statistic 120

Fanless cooling in 60% new residential inverters.

Statistic 121

Integrated EV chargers in 25% hybrids 2023.

Statistic 122

Cloud-based fleet management for 1M+ units.

Statistic 123

Anti-PID tech standard, voltage drop <1% yearly.

Statistic 124

Multimode operation: grid-tie, off-grid, microgrid seamless.

Statistic 125

Thermography integration detects hotspots real-time.

Sources
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Harvard Business ReviewThe GuardianFortune+497

Key Takeaways

  • Global solar inverter market size reached USD 18.2 billion in 2023.
  • Solar inverter market CAGR projected at 13.4% from 2024 to 2030.
  • String inverter segment held 45% market share in 2023.
  • Huawei held 29% global PV inverter market share in 2023.
  • Sungrow captured 23% market share in 2023 shipments.
  • SMA Solar Technology 7% share in Europe 2023.
  • Huawei string inverters 85% efficient avg 2023 models.
  • Sungrow launched 99% efficiency central inverters 2023.
  • Enphase IQ8 microinverters achieve 97.5% CEC efficiency.
  • Asia Pacific solar inverter market 62% global share 2023.
  • China 48% of global inverter shipments in 2023.
  • Europe installed 67 GW PV with 50 GWac inverters 2023.
  • Global solar inverter market to reach USD 45 billion by 2030.
  • PV inverter shipments forecast 800 GWac by 2028.
  • CAGR 14% for hybrid inverters to 2032.

The solar inverter market continues its rapid global expansion, driven by strong demand and technological innovation.

Future Projections and Trends

  • Global solar inverter market to reach USD 45 billion by 2030.
  • PV inverter shipments forecast 800 GWac by 2028.
  • CAGR 14% for hybrid inverters to 2032.
  • Microinverters to grow 20% CAGR to 2030.
  • Utility-scale to dominate 55% share by 2030.
  • Storage-integrated inverters 40% market by 2028.
  • China shipments peak at 400 GWac by 2026.
  • Europe 100 GWac annual additions by 2030.
  • US inverter demand 50 GWac/year by 2030.
  • India 50 GW PV inverters annually by 2030.
  • Efficiency to hit 99.5% standard by 2028.
  • 2000V systems commercial by 2027.
  • V2G capability in 70% new inverters by 2030.
  • ASP to fall to $0.05/Wac by 2030.
  • Residential segment CAGR 12% to 2030.
  • Latin America 25 GWac/year by 2030.
  • AI/ML in inverters for 10% yield gain by 2028.
  • Off-grid market doubles to USD 5B by 2030.
  • Top 10 vendors 80% share by 2028 consolidation.
  • Floating PV inverters specialized 5 GWac by 2030.
  • Carbon-neutral manufacturing by 2030 for leaders.
  • Grid-forming inverters mandatory post-2025.
  • Southeast Asia 20 GWac/year by 2030.
  • Australia 10 GW annual rooftop by 2030.
  • Middle East 50 GW utility pipeline to 2030.
  • Digital substations with inverters 30% Europe 2030.

Future Projections and Trends Interpretation

The future grid is not merely accepting solar power but actively demanding it, as the explosive growth and rapid innovation in inverters—from utility giants to smart home systems—transform them from simple converters into the essential, intelligent brains of a new energy landscape.

Key Players and Market Share

  • Huawei held 29% global PV inverter market share in 2023.
  • Sungrow captured 23% market share in 2023 shipments.
  • SMA Solar Technology 7% share in Europe 2023.
  • Ginlong Solis 8.5% global share in 2023.
  • Growatt reached 6% market share globally 2023.
  • GoodWe 5.2% share in residential segment 2023.
  • Fronius 4.8% in Australia market 2023.
  • Enphase Energy dominated microinverters with 54% US share 2023.
  • ABB (Fimer) 3.5% Europe utility share 2023.
  • Deye 4.1% in hybrid inverters 2023.
  • Power Electronics 2.8% Latin America share 2023.
  • SolarEdge 12% global MLPE-integrated share 2023.
  • TMEIC 3.2% US utility market 2023.
  • Kstar 2.9% China domestic share 2023.
  • Delta Electronics 2.5% Asia Pacific 2023.
  • Schneider Electric 1.8% commercial segment 2023.
  • Hoymiles 3.7% microinverter growth leader 2023.
  • Afore 1.6% emerging markets share 2023.
  • Chint Power 2.2% string inverter share 2023.
  • Fimer (ex-ABB) rebounded to 4% Europe 2023.
  • Seraphim 1.4% in India market 2023.
  • Omron 1.1% Japan residential 2023.
  • Victron Energy 2.3% off-grid niche 2023.
  • EPEVER 0.9% budget segment China 2023.
  • Lingyang 1.7% Southeast Asia 2023.

Key Players and Market Share Interpretation

The global solar inverter market reveals a clear aristocracy where Huawei and Sungrow reign supreme over vast territories, while a host of specialized dukes and barons, like Enphase in US microinverters or Fronius in Australia, firmly control their own formidable fiefdoms.

Market Size and Growth

  • Global solar inverter market size reached USD 18.2 billion in 2023.
  • Solar inverter market CAGR projected at 13.4% from 2024 to 2030.
  • String inverter segment held 45% market share in 2023.
  • Residential solar inverters accounted for 28% of global revenue in 2023.
  • Utility-scale inverters grew by 15.2% YoY in 2023 shipments.
  • Asia Pacific dominated with 62% of global market share in 2023.
  • Central inverters market valued at USD 5.6 billion in 2023.
  • Microinverter shipments increased 22% in 2023 globally.
  • Hybrid inverters captured 18% market share in 2023.
  • Europe solar inverter market grew 11% in 2023.
  • US solar inverter installations reached 25 GW in 2023.
  • China solar inverter production capacity hit 500 GW in 2023.
  • Commercial & industrial segment grew 14% YoY in 2023.
  • Global PV inverter shipment volume was 536 GWac in 2023.
  • Weighted average inverter price fell to $0.08/Wac in 2023.
  • India solar inverter market valued at USD 1.2 billion in 2023.
  • Latin America inverter market expanded 19% in 2023.
  • Off-grid inverters held 12% share in emerging markets 2023.
  • Single-phase inverters dominated residential with 55% share 2023.
  • Three-phase inverters grew fastest at 14.5% CAGR to 2030.
  • Middle East & Africa inverter market at USD 0.9 billion 2023.
  • Transformerless inverters 70% of shipments in 2023.
  • Australia solar inverter sales up 16% to AUD 1.1B in 2023.
  • Global storage-integrated inverters up 35% in 2023.
  • Japan residential inverter market shrank 5% in 2023.
  • Southeast Asia inverter demand rose 25% YoY 2023.
  • Canada PV inverter capacity added 4 GW in 2023.
  • Global inverter ASP declined 18% in 2023.
  • Brazil solar inverter market reached BRL 5B in 2023.
  • South Korea utility inverter tenders 10 GW in 2023.

Market Size and Growth Interpretation

While Asia Pacific currently commands the inverter market with a lion's share of 62%, the industry's vigorous 13.4% growth is being supercharged by a global race for utility-scale projects and a residential surge, even as fierce competition drives prices down to a mere eight cents per watt.

Regional Analysis

  • Asia Pacific solar inverter market 62% global share 2023.
  • China 48% of global inverter shipments in 2023.
  • Europe installed 67 GW PV with 50 GWac inverters 2023.
  • US residential inverters 12 GWac added 2023.
  • India 18 GW PV capacity with 14 GW inverters 2023.
  • Australia 4.5 GW rooftop PV inverters 2023.
  • Germany 14 GW new PV, 11 GWac inverters 2023.
  • Brazil 12 GW distributed solar inverters 2023.
  • Japan 8 GW residential/commercial inverters 2023.
  • Middle East 5 GW utility inverters tendered 2023.
  • Southeast Asia 6.5 GW PV inverters Vietnam/others 2023.
  • South Africa 2.8 GW C&I inverters 2023.
  • Mexico 3.2 GW utility inverters 2023.
  • Italy 5.5 GW new inverters ground-mount 2023.
  • Spain 4 GW PV inverters added 2023.
  • Turkey 2.5 GW rooftop inverters 2023.
  • Chile 3 GW utility-scale inverters 2023.
  • Poland 2 GW PV inverters 2023 growth leader CEE.
  • Thailand 1.8 GW solar inverters 2023.
  • Netherlands 2.2 GW residential inverters 2023.
  • UAE 1.5 GW Mohammed bin Rashid projects 2023.
  • France 1.2 GW new PV inverters 2023.
  • Argentina 1 GW distributed inverters despite economy 2023.

Regional Analysis Interpretation

While the world is busy installing solar panels, it's the humble inverter—with China firmly holding nearly half the global remote control—that's quietly doing the serious work of turning sunlight into usable power, one witty conversion at a time.

Technological Advancements

  • Huawei string inverters 85% efficient avg 2023 models.
  • Sungrow launched 99% efficiency central inverters 2023.
  • Enphase IQ8 microinverters achieve 97.5% CEC efficiency.
  • SMA Sunny Highpower PEAK3 reaches 99% efficiency.
  • SiC-based inverters reduce losses by 30% vs Si 2023.
  • Hybrid inverters with 10kW bidirectional charging standard.
  • AI-optimized MPPT algorithms boost yield 5-8%.
  • Module-level power electronics (MLPE) adoption 40% US 2023.
  • 1500Vdc systems reduce BOS costs 15%.
  • GaN semiconductors in residential inverters cut size 20%.
  • Digital twin tech for predictive maintenance 95% uptime.
  • Wireless monitoring reduces cabling 25% in new designs.
  • Arc-fault protection mandatory, reduces fires 99%.
  • Rapid shutdown compliance in 98% US models 2023.
  • IV curve tracing improves shading tolerance 12%.
  • Fanless cooling in 60% new residential inverters.
  • Integrated EV chargers in 25% hybrids 2023.
  • Cloud-based fleet management for 1M+ units.
  • Anti-PID tech standard, voltage drop <1% yearly.
  • Multimode operation: grid-tie, off-grid, microgrid seamless.
  • Thermography integration detects hotspots real-time.

Technological Advancements Interpretation

Here’s a sentence that captures both the wit and seriousness of this data dump: The inverter industry is having a full-blown arms race over percentages, where a single point of efficiency is a bragging right, avoiding a dangerous arc-fault is a legal mandate, and somehow your inverter now also wants to charge your car and gossip with the cloud about its performance.

Sources & References

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