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On Grid PV Inverter Market Share

Report ID: GMI9575
Published Date: May 2024
Report Format: PDF

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On Grid PV Inverter Market Share

Eminent players are focusing on integrating IoT and AI technologies into their inverters to enable remote monitoring and diagnostics capabilities to gain a competitive edge, and capture market share. Leading players are heavily investing in research and development and product innovation including smart inverters with advanced grid-support functionalities, and enhanced maximum power point tracking (MPPT) algorithms to improve brand reputation and expand market position.

On Grid PV Inverter Market Companies

Eminent players operating in the on grid PV inverter industry are:

Canadian Solar
Darfon Electronics Corp.
Delta Electronics, Inc.
Eaton
Enphase Energy, Inc
Fimer Group
GoodWe
Schneider Electric
Servotech Power Systems
SMA Solar Technology AG
Sungrow Power Supply Co., Ltd.
Solis Inverters
SolarEdge Technologies, Inc.
Statcon Energia
UTL Solar
V-Guard Industries Ltd

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of on grid PV inverter was reached USD 25.7 billion in 2023 and is expected to register 10.4% CAGR from 2024 to 2032, owing to the governments and organizations having ambitious targets for renewable energy adoption to combat climate change worldwide.

On grid PV inverter industry from the string segment and is projected to exceed USD 35.6 billion by 2032 due to its cost effectiveness compared to alternative products making it a preferred choice for residential and small to medium sized commercial solar installations.

Asia Pacific on grid PV inverter industry is estimated to cross USD 22.8 billion by 2032 due to growing regional energy needs owing to expanding urban centers and industrial zones, driving investments in renewable energy.

Eaton, GoodWe, Schneider Electric, Servotech Power Systems, SMA Solar Technology AG, Sungrow Power Supply Co., Ltd., Solis Inverters, SolarEdge Technologies, Inc., Statcon Energia, UTL Solar, and V-Guard Industries Ltd, are some of the major on grid PV inverter companies worldwide.