1. Introduction
1.1 Market Definition & Scope
1.2 Market Ecosystem
1.3 Currency & Limitations
1.4 Key Stakeholders
2. Research Methodology
2.1 Research Approach
2.2 Data Collection & Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.3 Market Assessment
2.3.1 Market Size Estimation
2.3.2 Bottom-up Approach
2.3.3 Top-down Approach
2.3.4 Growth Forecast
2.4 Assumptions for the Study
3. Executive Summary
3.1 Market Overview
3.2 Market Analysis, by Product
3.3 Market Analysis, by Grid Type
3.4 Market Analysis, by Phase
3.5 Market Analysis, by End User
3.6 Market Analysis, by Geography
3.7 Competitive Analysis
4. Market Insights
4.1 Overview
4.2 Factors Affecting Market Growth
4.2.1 Drivers
4.2.1.1 Growing Focus on Sustainability and Environmental Concerns
4.2.1.2 Government Policies and Incentives Aimed at Promoting the Use of Renewable Energy
4.2.1.3 Surge in Electricity Prices
4.2.2 Restraints
4.2.2.1 High Installation Costs of Solar Inverters
4.2.3 Opportunities
4.2.3.1 Integration of Solar Inverters with Energy Storage Systems
4.2.3.2 Adoption of Smart Grid Technologies
4.2.4 Challenges
4.2.4.1 Issues Related to the Integration of Solar Power Into Existing Electrical Grids
4.2.5 Trend
4.2.5.1 Integration of Digital Technologies and Internet of Things (IoT) Capabilities into Solar Inverters
4.3 Comparison Between On-grid, Off-grid, and Hybrid
5. Global Solar Inverter Market Assessment—by Product
5.1 Overview
5.2 String Inverters
5.3 Micro Inverters
5.4 Power Optimizers
5.5 Hybrid Inverters
5.6 Central Inverters
6. Global Solar Inverter Market Assessment—by Grid Type
6.1 Overview
6.2 On-grid
6.3 Off-grid
6.4 Hybrid
7. Global Solar Inverter Market Assessment—by Phase
7.1 Overview
7.2 Single-phase Solar Inverters
7.3 Three-phase Solar Inverters
8. Global Solar Inverter Market Assessment—by End User
8.1 Overview
8.2 Residential
8.3 Commercial & Industrial (C&I)
8.4 Utility-Scale
8.5 Other End Users
9. Solar Inverter Market Assessment—by Geography
9.1 Overview
9.2 North America
9.2.1 U.S.
9.2.2 Canada
9.3 Europe
9.3.1 Germany
9.3.2 U.K.
9.3.3 France
9.3.4 Italy
9.3.5 Spain
9.3.6 Russia
9.3.7 Netherlands
9.3.8 Rest of Europe
9.4 Asia-Pacific
9.4.1 China
9.4.2 Japan
9.4.3 India
9.4.4 South Korea
9.4.5 Thailand
9.4.6 Singapore
9.4.7 Rest of Asia-Pacific
9.5 Latin America
9.5.1 Brazil
9.5.2 Mexico
9.5.3 Argentina
9.5.4 Rest of Latin America
9.6 Middle East & Africa
9.6.1 UAE
9.6.2 Saudi Arabia
9.6.3 South Africa
9.6.4 Rest of Middle East & Africa
10. Global Solar Inverter Market Assessment—Competitive Analysis
10.1 Overview
10.2 Key Growth Strategies
10.3 Competitive Benchmarking
10.4 Competitive Dashboard
10.4.1 Industry Leaders
10.4.2 Market differentiators
10.4.3 Vanguards
10.4.4 Emerging Companies
10.5 Market Share Analysis
11. Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Recent Developments)
11.1 Siemens AG
11.2 Schneider Electric SE
11.3 Hitachi Hi-Rel Power Electronics Pvt. Ltd.
11.4 Sungrow Power Supply Co., Ltd.
11.5 Huawei Technologies Co., Ltd.
11.6 Ginlong Technologies Co., Ltd.
11.7 Growatt
11.8 SMA Solar Technology AG
11.9 Power Electronics S.L.
11.10 FIMER S.p.A.
11.11 TMEIC
11.12 SolarEdge Technologies Inc.
11.13 Sineng Electric Co., Ltd.
11.14 ABB Ltd
11.15 Luminous Power Technologies Pvt. Ltd.
11.16 Nexus Solar Energy
11.17 Waaree Energies Ltd.
11.18 Delta Electronics, Inc.
11.19 Enphase Energy Inc.
11.20 Havells India Ltd.
11.21 Fuji Electric Co., Ltd.
(Note: SWOT Analysis of the Top 5 Companies will be Provided)
12. Appendix
12.1 Available Customization
12.2 Related Reports
List of Tables
Table 1 Currency Conversion Rate (2019–2023)
Table 2 Global Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 3 Global String Inverter Market, by Country/Region, 2022–2031 (USD Million)
Table 4 Global Micro Inverter Market, by Country/Region, 2022–2031 (USD Million)
Table 5 Global Power Optimizers Market, by Country/Region, 2022–2031 (USD Million)
Table 6 Global Hybrid Inverters Market, by Country/Region, 2022–2031 (USD Million)
Table 7 Global Central Inverters Market, by Country/Region, 2022–2031 (USD Million)
Table 8 Global Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 9 Global On-grid Solar Inverter Market, by Country/Region, 2022–2031 (USD Million)
Table 10 Global Off-grid Solar Inverter Market, by Country/Region, 2022–2031 (USD Million)
Table 11 Global Hybrid Solar Inverter Market, by Country/Region, 2022–2031 (USD Million)
Table 12 Global Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 13 Global Single-Phase Solar Inverter Market, by Country/Region, 2022–2031 (USD Million)
Table 14 Global Three-Phase Solar Inverter Market, by Country/Region, 2022–2031 (USD Million)
Table 15 Global Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 16 Global Solar Inverter Market Residential, by Country/Region, 2022–2031 (USD Million)
Table 17 Global Solar Inverter Market Commercial & Industrial (C&I), by Country/Region, 2022–2031 (USD Million)
Table 18 Global Solar Inverter Market Utility-Scale, by Country/Region, 2022–2031 (USD Million)
Table 19 Global Solar Inverter Market Other End Users, by Country/Region, 2022–2031 (USD Million)
Table 20 Global Solar Inverter Market, by Country/Region, 2022–2031 (USD Million)
Table 21 North America: Solar Inverter Market, by Country, 2022–2031 (USD Million)
Table 22 North America: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 23 North America: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 24 North America: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 25 North America: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 26 U.S.: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 27 U.S.: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 28 U.S.: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 29 U.S.: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 30 Canada: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 31 Canada: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 32 Canada: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 33 Canada: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 34 Europe: Solar Inverter Market, by Country/Region, 2022–2031 (USD Million)
Table 35 Europe: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 36 Europe: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 37 Europe: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 38 Europe: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 39 Germany: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 40 Germany: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 41 Germany: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 42 Germany: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 43 U.K.: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 44 U.K.: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 45 U.K.: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 46 U.K.: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 47 France: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 48 France: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 49 France: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 50 France: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 51 Italy: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 52 Italy: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 53 Italy: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 54 Italy: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 55 Spain: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 56 Spain: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 57 Spain: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 58 Spain: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 59 Russia: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 60 Russia: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 61 Russia: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 62 Russia: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 63 Netherlands: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 64 Netherlands: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 65 Netherlands: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 66 Netherlands: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 67 Rest of Europe: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 68 Rest of Europe: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 69 Rest of Europe: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 70 Rest of Europe: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 71 Asia-Pacific: Solar Inverter Market, by Country/Region, 2022–2031 (USD Million)
Table 72 Asia-Pacific: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 73 Asia-Pacific: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 74 Asia-Pacific: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 75 Asia-Pacific: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 76 China: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 77 China: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 78 China: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 79 China: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 80 Japan: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 81 Japan: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 82 Japan: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 83 Japan: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 84 India: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 85 India: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 86 India: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 87 India: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 88 South Korea: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 89 South Korea: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 90 South Korea: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 91 South Korea: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 92 Thailand: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 93 Thailand: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 94 Thailand: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 95 Thailand: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 96 Singapore: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 97 Singapore: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 98 Singapore: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 99 Singapore: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 100 Rest of Asia-Pacific: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 101 Rest of Asia-Pacific: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 102 Rest of Asia-Pacific: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 103 Rest of Asia-Pacific: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 104 Latin America: Solar Inverter Market, by Country/Region, 2022–2031 (USD Million)
Table 105 Latin America: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 106 Latin America: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 107 Latin America: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 108 Latin America: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 109 Brazil: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 110 Brazil: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 111 Brazil: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 112 Brazil: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 113 Mexico: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 114 Mexico: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 115 Mexico: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 116 Mexico: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 117 Argentina: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 118 Argentina: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 119 Argentina: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 120 Argentina: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 121 Rest of Latin America: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 122 Rest of Latin America: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 123 Rest of Latin America: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 124 Rest of Latin America: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 125 Middle East & Africa: Solar Inverter Market, by Country/Region, 2022–2031 (USD Million)
Table 126 Middle East & Africa: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 127 Middle East & Africa: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 128 Middle East & Africa: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 129 Middle East & Africa: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 130 UAE: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 131 UAE: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 132 UAE: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 133 UAE: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 134 Saudi Arabia: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 135 Saudi Arabia: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 136 Saudi Arabia: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 137 Saudi Arabia: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 138 South Africa: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 139 South Africa: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 140 South Africa: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 141 South Africa: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 142 Rest of Middle East & Africa: Solar Inverter Market, by Product, 2022–2031 (USD Million)
Table 143 Rest of Middle East & Africa: Solar Inverter Market, by Grid Type, 2022–2031 (USD Million)
Table 144 Rest of Middle East & Africa: Solar Inverter Market, by Phase, 2022–2031 (USD Million)
Table 145 Rest of Middle East & Africa: Solar Inverter Market, by End User, 2022–2031 (USD Million)
Table 146 Recent Developments by Major Market Players (2021–2024)
List of Figures
Figure 1 Currency and Limitations
Figure 2 Research Process
Figure 3 Primary Research Techniques
Figure 4 Key Executives Interviewed
Figure 5 Breakdown of Primary Interviews (Supply Side & Demand Side)
Figure 6 Market Sizing and Growth Forecast Approach
Figure 7 Key Insights
Figure 8 Solar Inverter Market, by Product, 2024 vs. 2031 (USD Million)
Figure 9 Solar Inverter Market, by Grid Type, 2024 vs. 2031 (USD Million)
Figure 10 Solar Inverter Market, by Phase, 2024 vs. 2031 (USD Million)
Figure 11 Solar Inverter Market, by End User, 2024 vs. 2031 (USD Million)
Figure 12 Geographic Snapshot: Global Solar Inverter Market
Figure 13 Impact Analysis of Market Dynamics
Figure 14 Solar Inverter Market, by Product, 2024 vs. 2031 (USD Million)
Figure 15 Solar Inverter Market, by Grid Type, 2024 vs. 2031 (USD Million)
Figure 16 Solar Inverter Market, by Phase, 2024 vs. 2031 (USD Million)
Figure 17 Solar Inverter Market, by End User, 2024 vs. 2031 (USD Million)
Figure 18 Global Solar Inverter Market, by Region, 2024 vs. 2031 (USD Million)
Figure 19 North America: Solar Inverter Market Snapshot
Figure 20 Europe: Solar Inverter Market Snapshot
Figure 21 Asia-Pacific: Solar Inverter Market Snapshot
Figure 22 Latin America: Solar Inverter Market Snapshot
Figure 23 Middle East & Africa: Solar Inverter Market Snapshot
Figure 24 Growth Strategies Adopted by Leading Market Players (2021–2024)
Figure 25 Competitive Benchmarking Analysis (2021–2024)
Figure 26 Competitive Dashboard: Solar Inverter Market
Figure 27 Siemens AG: Financial Overview (2023)
Figure 28 Schneider Electric SE: Financial Overview (2023)
Figure 29 SMA Solar Technology AG: Financial Overview (2023)
Figure 30 SolarEdge Technologies Inc.: Financial Overview (2023)
Figure 31 ABB Ltd: Financial Overview (2023)
Figure 32 Enphase Energy Inc.: Financial Overview (2023)