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Standalone PV Inverter Market Share

  • Report ID: GMI9688
  • Published Date: May 2024
  • Report Format: PDF

Standalone PV Inverter Market Share

Eminent players are focusing on offering a broad range of products tailored to various applications including high-capacity inverters for industrial use, compact solutions for residential applications, and robust inverters designed for challenging environments and meet the evolving needs of the market. Companies are collaborating with other companies, including solar panel manufacturers, energy storage providers, and installation firms, helping key players to create integrated solar solutions. Furthermore, key players are establishing local manufacturing units, distribution networks, and service centers to help in better market penetration and customer service.

Standalone PV Inverter Market Companies

Eminent players operating in the standalone PV inverter industry are:

  • APsystems
  • Chint Power Systems
  • Eaton
  • Hitachi Hi-Rel Power Electronics Pvt. Ltd
  • INVTSolar
  • KACO new energy GmbH
  • NingBo Deye Inverter Technology Co.Ltd
  • OutBack Power Technologies
  • Power Electronics
  • Servotech Power Systems
  • SMA Solar Technology AG
  • UTL Solar
  • Yaskawa Solectria Solar
Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of standalone PV inverter reached USD 4.1 billion in 2023 and is set to witness 13.3% CAGR between 2024 and 2032, due to the increasing demand from industrial and commercial sectors and rising emergency and backup power needs.

The string segment is expected to reach USD 12.2 million by 2032, owing to its cost effectiveness compared to other inverter types and high efficiency rates.

Europe market is projected to cross USD 7.5 million by 2032, attributed to rising solar energy adoption, increasing support from government and rising European union's ambitious climate targets.

APsystems, Chint Power Systems, Eaton, Hitachi Hi-Rel Power Electronics Pvt. Ltd, INVTSolar, KACO new energy GmbH, NingBo Deye Inverter Technology Co.Ltd, OutBack Power Technologies, Power Electronics, and Servotech Power Systems, among others.

Standalone PV Inverter Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 14
  • Tables & Figures: 25
  • Countries covered: 19
  • Pages: 80
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