Solar inverter market value

As more people install solar energy systems, the demand for solar inverters—which convert solar power into usable electricity—is growing worldwide. Inverters are a crucial part of both home and commercial solar setups.

Global Market Value and Price Trends

Research shows that the global market for PV inverters is large but prices are falling:

• The global value of PV inverters was expected to decline from around 5.7billionto5.7 billion to5.7billionto5.2 billion, even as more solar systems are installed each year.
• Prices were projected to drop by 20–25% by 2020, making solar systems more affordable.
• Lower manufacturing costs mean companies can produce more inverters, which helps the market grow.

Inverter Shipments and Technology Shifts

• Inverter shipments reached 59.7 GW in recent years, with China leading in production.
• By 2020, global PV inverter shipments were expected to reach 90 GW, with market value increasing over time.
• New technologies like microinverters and power optimizers (MLPE – Module-Level Power Electronics) were expected to gradually replace some string inverters, especially in rooftop systems.

Top Solar Inverter Manufacturers

Most solar inverter companies are based in:

• Europe – Home to major brands
• North America
• Asia – Including China, a leading producer

Examples of top manufacturers:

• SMA Solar – Held about 10% of the global market share in 2013, making it one of the largest players.
• ABB (Swiss) – Ranked as the second-largest manufacturer in the industry.

This data comes from GlobalData, a well-known research firm with thousands of analysts, making it a reliable source for market insights.