How big is the Solar Inverter Market | Insights, Forecast & Growth Analysis 2025

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Code: MTA8678

Publication Date: Sep 2025

What is the size of Solar Inverter Market?

According to 6Wresearch internal database and industry insights, the Solar Inverter Market was valued at USD 9.8 billion in 2024 and is expected to reach USD 16.9 billion by 2031, growing at a CAGR of 8.2% during 2025-2031.

The main contributors to the growth in the Solar Inverter Market are the increasing adoption of renewable energy, demand for efficient power conversion systems, and government policies and incentives in support of solar adoption across residential, commercial, and industrial sectors.

Growth Factors for Solar Inverter Industry

A rise in installations of residential rooftop solar systems.
Customer demand for energy-efficient power conversion systems.
Government regulations, policies, and incentives supporting solar deployments.
Technological advancements in hybrid inverters and smart inverters.
Growth of utility-scale solar installations across multiple regions.

Solar Inverter Market Trends

The trends in the solar inverter market reflect increasing interest in string and micro-inverters for residential and small-scale uses. Central inverters remain predominant in utility projects. However, hybrid inverters with battery storage are also gaining traction. In addition, digital monitoring methods such as IoT-enabled inverters enable analytics on real-time performance. Manufacturers are also designing more compact models, improved efficiency, and longer-lasting solutions to enable changes in the way energy is utilized.

Emerging Developments in the Solar Inverter Market

The developments in the solar inverter market highlight the innovation in hybrid and off-grid solutions for use in remote applications. New advancements in grid-support capabilities, along with energy storage compatibility, are creating new opportunities for uptake. Companies are also investing in technologies that optimize energy use with AI. Collaborations between inverter producers and solar developers are improving efficiency, while new product launches are focused on scalability and ease of installation.