Solar Inverter market set to hit $18.8 billion by 2032

Research by Meticulous projected the solar inverter market at USD 10.2 bn for 2025, with Siemens, Huawei, Luminous, SMA, and others contributing to Asia-Pacific growth.

By Prudhvi Rani 28 Jun 2025 in Market Bytes

New Update

Researchers have reported Asia-Pacific holding 60.0% market share and central inverters accounting for 40.0% in utility-scale projects. Image Source: HUAWEI

Meticulous Research® has estimated the global solar inverter market at $10.2 billion for 2025. The market is projected to reach $18.8 billion by 2032. It is expected to grow at an average annual rate of 8.9%, also called Compound Annual Growth Rate (CAGR). As per research, this growth is driven by rising electricity costs, renewable energy demand, and supportive policies. The research says Asia-Pacific holds 60.0% market share, led by China, India, Japan, and Singapore. Central inverters account for a 40.0% share, mainly used in utility-scale projects. As per research, hybrid inverters show the fastest growth due to energy storage demand. On-grid systems lead with 70.0% share, preferred for cost and grid compatibility. Three-phase inverters dominate commercial and industrial use. Companies such as Siemens, Huawei, Luminous Power, and SMA Solar Technology are active in this market.

#China #India #Solar Inverter #Central inverters

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