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Standalone Single Phase PV Inverter Market Share

Report ID: GMI12055
Published Date: Oct 2024
Report Format: PDF

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Standalone Single Phase PV Inverter Market Share

Standalone Single Phase PV Inverter Company Market Share

Eminent players are investing in research and development to enhance the efficiency and functionality of their standalone PV inverters. Key players are actively exploring new geographical markets, particularly in regions with high solar potential, such as Asia Pacific, North America, and Europe to expand their reach by establishing local partnerships and enhancing their distribution networks. Additionally, they are adjusting their product offerings to meet regional regulatory standards and consumer preferences, ensuring better market penetration.

Standalone Single Phase PV Inverter Market Companies

Eminent players operating in the Standalone Single Phase PV Inverter industry are:

Eastman Solar
Growatt
Guangdong Prostar New Energy Technology
INVTSolar
Kirloskar Solar
Milesolar
SMA Solar Technology
Statcon Powtech
Solis Inverter
Sunway Solar
Shenzhen Huangjintai Electronics
Tanfon Solar

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The global market for standalone single-phase PV inverter was reached USD 437.5 million in 2023 and is estimated to grow at a 12% CAGR from 2024 to 2032, driven by the increasing adoption of solar energy for residential and small commercial applications.

The residential segment is anticipated to exceed USD 900 million by 2032, due to growing environmental awareness and the increasing availability and affordability of energy storage solutions.

String inverters are set to grow at a CAGR of more than 12% through 2032, led by their lower upfront costs and ease of installation, making them appealing for residential users.

The Asia Pacific market for standalone single-phase PV inverter is anticipated to exceed USD 300 million by 2032, led by the rising inclination of homeowners towards solar solutions and increasing government support for solar technologies.

Key players in the industry include Eastman Solar, Growatt, Guangdong Prostar New Energy Technology, INVTSolar, Kirloskar Solar, Milesolar, SMA Solar Technology, Statcon Powtech, Solis Inverter, Sunway Solar, Shenzhen Huangjintai Electronics, and Tanfon Solar.