세계의 태양광발전 인버터 시장 : 2025년판

A solar PV inverter is a power inverter that converts electricity from a photovoltaic (PV) solar panel in direct current (DC) to alternating current (AC) at utility frequency. This can be utilized for residential and business electrical grids, as well as a local off-grid electrical network like micro grids. Global solar inverter market in 2023 was valued at US$12.81 billion, and is expected to reach US$24.40 billion by 2029.

Solar inverters are most commonly used in residential and utilities applications, and nowadays are increasingly used in the commercial & industrial projects across the globe. Rapid development in the renewable energy sector and easy installation of solar inverters are the key factors that drive the growth of the market. Due to infrastructural development and growing number of construction and building projects, the demand for solar inverter is growing at a rapid pace. In addition, supportive government policies & incentives to promote solar energy adoption, increased awareness among consumers & businesses about energy efficiency, rising investments in solar energy projects, ongoing shift towards decentralized energy generation, and growing corporate adoption of solar power is expected to augment the growth of the global solar inverter market in the forecasted period. The market is expected to grow at a CAGR of 11.34% over the projected period of 2024-2029.

Market Segmentation Analysis:

By Type: The report provides the bifurcation of the global solar inverter market into three segments on the basis of type, namely, central, string and micro. String solar inverters is the largest segment of the global solar inverter market due to the rapidly growing residential solar market, global shift towards renewable energy sources, high market availability and low initial investment of string inverters, rise of smart grid technology, and ongoing advancements in string inverter technology, such as higher efficiency ratings, greater durability, and enhanced monitoring capabilities. Furthermore, string-type inverters are ideal for commercial and residential applications, including modest utility installations of less than 1 MW. String inverters are ideal for households seeking low-cost PV systems or for properties with simple roofs and constant renewable electricity throughout the day. Central solar inverters is the fastest growing segment of global solar inverter market owing to rising adoption of solar PV systems, increasing number of Large-scale solar projects, longer lifespan and durability of central inverters, and rise in demand for central inverters from large industrial and utility applications across the globe. Moreover, rapid industrialization and construction of renewable power infrastructure in the developing economies such as China, India, Japan, and others are further expected to fuel the demand for central inverters.

By Phase: The report provides the bifurcation of the global solar inverter market into two segments on the basis of phase: single phase and three phase. Three-phase solar inverters is the largest and fastest growing segment of global solar inverter market owing to increased commercial and industrial solar installations, rising demand for energy independence, increased desire to reduce reliance on conventional power sources, greater availability of financing options and power purchase agreements (PPAs) for solar projects, and ongoing integration of three-phase inverters with energy storage solutions. Furthermore, the shift from 1,000-volt to 1,500-volt solar arrays resulted in larger solar power plants in large commercial, industrial, and utility installations, fueling the growth of the three-phase solar inverter market throughout the projection period. In commercial and industrial solar installations, three-phase solar inverters are often employed.

By Connection Type: The report provides the bifurcation of the global solar inverter market into two segments on the basis of connection type: on grid and off grid. On grid solar inverters is the largest segment of global solar inverter market as a result of rapid urban and suburban expansion, increasing public and corporate focus on reducing carbon footprints, high efficiency and reliability with existing grid infrastructure, low maintenance costs, growing availability and decreasing costs of solar panels, and ongoing advancements of smart grid technologies. The major gains of the on-grid solar inverter are energy conversion, ensuring system safety, grid assistance, tracking power production, and many more. Furthermore, the increase in the segment is related to an increase in investment for direct provision of electricity rather than battery storage. Off grid solar inverters is the fastest growing segment of global solar inverter market owing to reducing dependency on fossil fuels, increased need for energy independence and security, rising efforts towards rural and remote electrification, increasing use of off-grid solar systems for backup power, declining costs of solar component, and increasing demand for remote power solutions for applications such as agricultural operations, telecommunications, and emergency services.

By End User: The report provides the bifurcation of the global solar inverter market into three segments on the basis of end user: utilities, residential and commercial & industrial. Utility is the largest segment of global solar inverter market. The segment has seen an increase because investment in utility-scale solar power plants, solar parks, and other solar structures has increased. Furthermore, the rise in construction projects such as decentralized solar power plants, rural electrification projects, solar power plants on water bodies and rooftops, and others is propelling the global solar inverter market for the utilities segment. Residential is the fastest growing segment owing to increasing electricity rates, rising investment in solar technology for home value appreciation, growing availability of residential solar products, rising concerns regarding grid reliability and power outages, and increased presence of favorable government incentives, tax credits, and rebates for residential solar installations.

By Region: The report provides insight into the global solar inverter market based on regions namely, North America, Europe, Asia Pacific, and rest of the world. Asia Pacific is the largest and fastest growing region of global solar inverter market. Expansion of the renewable energy sector, increased investment in upgrading aging power infrastructure, and industrialization in the region are expected to fuel market growth in the coming years. The solar inverter market in Asia Pacific is witnessing significant developments in the renewable energy sector due to increased initiatives towards climate change and net zero targets, which has supported the demand for inverters across countries of the region.

The integration of energy storage systems with solar inverters is anticipated to gain momentum in North America. Energy storage enables the efficient management and utilization of solar power, allowing users to store excess energy generated during the day for later use during peak demand or grid outages. This trend promotes self-consumption and grid independence, further enhancing the value and functionality of solar inverters. Also, installations in new construction activities and renovations mainly support the growth of the solar inverter market in North America. Many North American states have set aggressive renewable energy targets, intending to increase the amount of clean energy in their energy mix. These goals generate demand for solar power systems, which include solar inverters, which are critical components of solar energy generation.

Market Dynamics:

Growth Drivers: The global solar inverter market has been rapidly growing over the past few years, due to factors such as growing replacement demand for solar inverters, mounting home improvement, rapid urbanization, increasing power failures, rising number of solar installations attributed to government-led incentives and schemes, etc. Urban areas are experiencing a surge in population and infrastructure development, resulting in an increased energy demand. Solar energy, being a clean and renewable source, is being widely adopted as a sustainable solution to meet this growing energy requirement. High population density and intense economic activity characterize urban regions. As a result, there will be an increased demand for electricity to power residential, commercial, and industrial facilities. Also, homeowners are becoming more knowledgeable about the benefits of solar inverters, which has resulted in an increase in home remodeling projects including solar power systems.

Challenges: However, the global solar inverter market growth would be negatively impacted by various challenges such as safety risks associated with high DC voltages, high cost of solar inverters, etc. Solar inverters can be expensive, especially for bigger installations. This high initial cost may discourage potential consumers from adopting solar energy systems, particularly residential and small-scale commercial clients with limited budgets. For many individuals and organizations, the initial expenditure necessary for solar inverters might be a barrier to entry.

Trends: The global solar inverter market is projected to grow at a fast pace during the forecasted period, due to increasing demand for smart solar inverters, inflation reduction act (IRA), expansion of companies in ESS market, sustainability, positive shift towards decentralized power generation, etc. Energy Storage Systems (ESS) are quickly becoming a significant growth driver in the solar inverter business. The integration of energy storage technology with solar power systems, which allows for the storing of excess energy created during periods of sunlight for later consumption, is referred to as ESS. Energy storage systems need to be connected to inverters to integrate with the grid system. This makes inverter companies a natural integrator of an ESS system. In addition, as a majority of ESS are integrated with solar and wind projects, solar inverter companies can leverage their existing customer networks and distribution channels to market their own ESS products. Also, sustainability is a major motivator for the global shift toward renewable energy sources. Solar energy, as a clean and abundant renewable energy source, plays an important part in this shift. Solar inverters are crucial components of solar power systems because they transform the direct current produced by solar panels into usable alternating current.

Impact Analysis of COVID-19 and Way Forward:

COVID-19 brought in many changes in the world in terms of reduced productivity, loss of life, business closures, closing down of factories and organizations, and shift to an online mode of work. The COVID-19 pandemic has had a significant impact on solar inverter market. The solar inverter industry is based on a global supply chain, with components and materials coming from all over the world. The pandemic caused delays in the production and distribution of solar inverters by disrupting manufacturing, transportation, and logistics. International trade restrictions, border closures, and lockdown measures in several locations resulted in shortages of crucial components, affecting the availability of inverters.

Competitive Landscape:

The global solar inverter market is consolidated, with multiple significant competitors, including well-established solar inverter companies as well as small and medium-sized businesses. The key players of the market are:

Schneider Electric SE

SolarEdge Technologies, Inc.

Delta Electronics, Inc.

Huawei Investment & Holding Co. Ltd.

GoodWe

Sineng Electric Co., Ltd.

Sungrow Power Supply Co., Ltd.

SMA Solar Technology AG

FIMER S.p.A.

Growatt

Yaskawa Solectria Solar

Ginlong (Solis) Technologies

Power Electronics

Hitachi Hi-Rel Power Electronics Private Limited

Also, the global residential solar inverter market, and global solar inverter (ex. residential) turned out to be a highly concentrated market, with few players accounting for the majority of the global market share.

Table of Contents

1. Executive Summary

2. Introduction

• 2.1 Solar Inverter: An Overview
  • 2.1.1 Definition of Solar Inverter
  • 2.1.2 Solar Inverter: Key Components And Their Functions
  • 2.1.3 Comparison Of Different Solar Inverters
• 2.2 Solar Inverter Segmentation: An Overview
  • 2.2.1 Solar Inverter Segmentation

3. Global Market Analysis

• 3.1 Global Solar Inverter Market: An Analysis
  • 3.1.1 Global Solar Inverter Market: An Overview
  • 3.1.2 Global Solar Inverter Market by Value
  • 3.1.3 Global Solar Inverter Market by Type (Central, String and Micro)
  • 3.1.4 Global Solar Inverter Market by Phase (Single Phase and Three Phase)
  • 3.1.5 Global Solar Inverter Market by Connection Type (On Grid and Off Grid)
  • 3.1.6 Global Solar Inverter Market by End User (Utilities, Residential and Commercial & Industrial)
  • 3.1.7 Global Solar Inverter Market by Region (North America, Europe, Asia Pacific, and Rest of the World)
  • 3.1.8 Global Solar Inverter Market by Demand
• 3.2 Global Solar Inverter Market: Type Analysis
  • 3.2.1 Global Solar Inverter Market by Type: An Overview
  • 3.2.2 Global String Solar Inverter Market by Value
  • 3.2.3 Global Central Solar Inverter Market by Value
  • 3.2.4 Global Micro Solar Inverter Market by Value
• 3.3 Global Solar Inverter Market: Phase Analysis
  • 3.3.1 Global Solar Inverter Market by Phase: An Overview
  • 3.3.2 Global Single Phase Solar Inverter Market by Value
  • 3.3.3 Global Three Phase Solar Inverter Market by Value
• 3.4 Global Solar Inverter Market: Connection Type Analysis
  • 3.4.1 Global Solar Inverter Market by Connection Type: An Overview
  • 3.4.2 Global On Grid Solar Inverter Market by Value
  • 3.4.3 Global Off Grid Solar Inverter Market by Value
• 3.5 Global Solar Inverter Market: End User Analysis
  • 3.5.1 Global Solar Inverter Market by End User: An Overview
  • 3.5.2 Global Utilities Solar Inverter Market by Value
  • 3.5.3 Global Residential Solar Inverter Market by Value
  • 3.5.4 Global Commercial & Industrial Solar Inverter Market by Value

4. Regional Market Analysis

• 4.1 Asia Pacific Solar Inverter Market: An Analysis
  • 4.1.1 Asia Pacific Solar Inverter Market: An Overview
  • 4.1.2 Asia Pacific Solar Inverter Market by Value
  • 4.1.3 Asia Pacific Solar Inverter Market by Region (China, India, Japan, South Korea and Rest of Asia Pacific)
  • 4.1.4 China Solar Inverter Market by Value
  • 4.1.5 India Solar Inverter Market by Value
  • 4.1.6 Japan Solar Inverter Market by Value
  • 4.1.7 South Korea Solar Inverter Market by Value
  • 4.1.8 Rest of Asia Pacific Solar Inverter Market by Value
• 4.2 North America Solar Inverter Market: An Analysis
  • 4.2.1 North America Solar Inverter Market: An Overview
  • 4.2.2 North America Solar Inverter Market by Value
  • 4.2.3 North America Solar Inverter Market by Region (The US, Canada, and Mexico)
  • 4.2.4 The US Solar Inverter Market by Value
  • 4.2.5 The US Solar Inverter Market by End User (Utilities, Residential and Commercial & Industrial)
  • 4.2.6 The US Utilities Solar Inverter Market by Value
  • 4.2.7 The US Residential & Industrial Solar Inverter Market by Value
  • 4.2.8 The US Commercial Solar Inverter Market by Value
  • 4.2.9 Canada Solar Inverter Market by Value
  • 4.2.10 Mexico Solar Inverter Market by Value
• 4.3 Europe Solar Inverter Market: An Analysis
  • 4.3.1 Europe Solar Inverter Market: An Overview
  • 4.3.2 Europe Solar Inverter Market by Value
  • 4.3.3 Europe Solar Inverter Market by Region (Germany, UK, France, Italy, Spain and Rest of Europe)
  • 4.3.4 Germany Solar Inverter Market by Value
  • 4.3.5 UK Solar Inverter Market by Value
  • 4.3.6 France Solar Inverter Market by Value
  • 4.3.7 Italy Solar Inverter Market by Value
  • 4.3.8 Spain Solar Inverter Market by Value
  • 4.3.9 Rest of Europe Solar Inverter Market by Value
• 4.4 Rest of the World Solar Inverter Market: An Analysis
  • 4.4.1 Rest of the World Solar Inverter Market: An Overview
  • 4.4.2 Rest of the World Solar Inverter Market by Value

5. Impact of COVID-19

• 5.1 Impact of COVID-19 on Global Solar Inverter Market
• 5.2 Post COVID-19 Impact on Solar Inverter Market

6. Market Dynamics

• 6.1 Growth Drivers
  • 6.1.1 Growing Replacement Demand for Solar Inverters
  • 6.1.2 Mounting Home Improvement
  • 6.1.3 Rapid Urbanization
  • 6.1.4 Rising Number of Solar Installations Attributed to Government-led Incentives And Schemes
  • 6.1.5 Increasing Power Failures
• 6.2 Challenges
  • 6.2.1 Safety Risks Associated with High DC Voltages
  • 6.2.2 High Cost of Solar Inverters
• 6.3 Market Trends
  • 6.3.1 Increasing Demand For Smart Solar Inverters
  • 6.3.2 Inflation Reduction Act (IRA)
  • 6.3.3 Expansion Of Companies in ESS Market
  • 6.3.4 Sustainability
  • 6.3.5 Positive Shift Towards Decentralized Power Generation

7. Competitive Landscape

• 7.1 Global Solar Inverter Players by Market Share
• 7.2 Global Solar Inverter (Ex. Residential) Players by Market Share
• 7.3 Global Solar Inverter Market Players by Plant Utilization
• 7.4 Global Solar Inverter Market Players by Capacity
• 7.5 Global Solar Inverter Market Players: Product Comparison
• 7.6 Global Solar Inverter Market Players: Accessories Supply Comparison
• 7.7 The US Solar Inverter Players by Market Share

8. Company Profiles

• 8.1 Schneider Electric SE
  • 8.1.1 Business Overview
  • 8.1.2 Operating Segments
  • 8.1.3 Business Strategy
• 8.2 SolarEdge Technologies, Inc.
  • 8.2.1 Business Overview
  • 8.2.2 Operating Segments
  • 8.2.3 Business Strategy
• 8.3 Delta Electronics, Inc.
  • 8.3.1 Business Overview
  • 8.3.2 Operating Segments
  • 8.3.3 Business Strategy
• 8.4 Huawei Investment & Holding Co. Ltd.
  • 8.4.1 Business Overview
  • 8.4.2 Operating Segments
  • 8.4.3 Business Strategy
• 8.5 GoodWe
  • 8.5.1 Business Overview
  • 8.5.2 Business Strategy
• 8.6 Sineng Electric Co., Ltd.
  • 8.6.1 Business Overview
  • 8.6.2 Business Strategy
• 8.7 Sungrow Power Supply Co., Ltd.
  • 8.7.1 Business Overview
  • 8.7.2 Business Strategy
• 8.8 SMA Solar Technology AG
  • 8.8.1 Business Overview
  • 8.8.2 Business Strategy
• 8.9 FIMER S.p.A.
  • 8.9.1 Business Overview
  • 8.9.2 Business Strategy
• 8.10 Growatt
  • 8.10.1 Business Overview
  • 8.10.2 Business Strategy
• 8.11 Yaskawa Solectria Solar
  • 8.11.1 Business Overview
  • 8.11.2 Business Strategy
• 8.12 Ginlong (Solis) Technologies
  • 8.12.1 Business Overview
  • 8.12.2 Business Strategy
• 8.13 Power Electronics
  • 8.13.1 Business Overview
• 8.14 Hitachi Hi-Rel Power Electronics Private Limited
  • 8.14.1 Business Overview