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Residential Solar PV Inverter Market Trends

Report ID: GMI5167
Published Date: Jun 2024
Report Format: PDF

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Residential Solar PV Inverter Market Trends

Increasing government policies and regulatory frameworks to boost the adoption of solar systems coupled with rising information campaigns by governments, non-profits, and industry stakeholders to improve awareness about the long-term benefits and potential savings associated with solar power will augment the business landscape. Growing requirement for energy independence and security to reduce their dependence on external energy suppliers and gain greater control over their energy supply is complementing the industry growth.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of residential solar PV inverter was crossed USD 6.4 billion in 2023 and is anticipated to grow at 30.3% CAGR through 2032, owing to the growing energy independence and sustainability.

String segment in the residential solar PV inverter market is anticipated to reach over USD 38.5 billion by 2032, attributed to the increasing demand for affordable products without incurring excessive initial expenses and lower maintenance costs.

Asia Pacific residential solar PV inverter market is likely to exceed USD 32.6 billion by 2032, credited to the rising government support in terms of policies including feed-in tariffs and favorable net metering regulations.

Canadian Solar, Darfon Electronics Corp., Delta Electronics, Inc., Enphase Energy, Eaton, Fimer Group, Fronius International GmbH, General Electric, Ginlong Technologies, Goldi Solar, GoodWe, Hitachi Hi-Rel Power Electronics Private Limited, and Huawei Technologies Co., Ltd. among others.