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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
How big the on grid PV inverter market?
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.
Why is the demand for on grid string PV inverter growing?
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.
What is the size of the Asia Pacific on grid PV inverter market?
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.
Who are the key leaders in the on grid PV inverter industry?
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.