Global and China Photovoltaic Inverter
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How big is the solar PV inverter market in 2024?
By application, utility-scale installations accounted for 63% of the solar PV inverter market size in 2024, while residential is set to grow at a 7.6% CAGR through 2030. By phase, three-phase units led with 72% of the solar PV inverter market share in 2024; Single-phase is forecasted to post a 7.2% CAGR between 2025 and 2030.
What is the global solar PV inverters market size?
Reuse requires attribution under CC BY 4.0. Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. The Solar PV Inverters Market size is estimated at USD 14.27 billion in 2025, and is expected to reach USD 19.89 billion by 2030, at a CAGR of 6.87% during the forecast period (2025-2030).
How is the solar PV inverters market segmented?
The solar PV inverters market is segmented by inverter type, application, and geography. By inverter type, the market is segmented into central inverters, string inverters, and micro-inverters.
What is a solar PV inverter?
A solar PV inverter is a power inverter that converts electricity in direct current (DC) output from a photovoltaic (PV) solar panel into alternating current (AC) at utility frequency. This can be used for residential and commercial electrical grids or by a local off-grid electrical network, such as microgrids.
How much power does a residential PV system use a year?
Residential PV installation reached 25.3GW, up 16.9% year-on-year, accounting for 28.9% of all new installations. PV power generation amounted to 427.6 billion kWh, a year-on-year increase of 30.8%. The average utilization rate of PV power generation reached 98.34%, basically the same as last year.
What is PV power systems market?
Many thanks to: China Photovoltaic Industry Association(CPIA), Sun Yunlin, Xu Junyu, etc. The PV power systems market is defined as the market of all nationally installed (terrestrial) PV applications with a PV capacity of 40 W or more.