String Inverter Market Size

String Inverter Market size was valued at USD 19.88 billion in 2024 and is set to exceed USD 80.9 billion by 2037, registering over 11.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of string inverter is evaluated at USD 21.69 billion. The rising capacity of renewable energy has a direct impact on the market growth of string inverters since it converts the direct current into usable alternating current. According to the International Energy Agency's most recent annual report, worldwide renewable power capacity is expected to expand by 2 400 gigatonnes (GW) between 2022 and 2027.

The rising development of smart infrastructure will augment string inverter market growth. String inverters often come equipped with advanced monitoring and control capabilities and extract real-time data. This data can be used for making informed decisions regarding system upgrades, and maintenance, which overall enhances the smart infrastructure.