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.

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of string inverter is evaluated at USD 21.69 billion.

The 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. Increasing deployment of solar panels and rising demand for renewable energy will drive the market growth.

Asia Pacific industry is poised to dominate majority revenue share of 45% by 2037, due to growing efforts to boost renewable energy capacity in the region.

The major players in the market include KACO New Energy GmbH, Delta Energy Systems GmbH, Yaskawa Solectria Solar, Sungrow Power Supply Co Ltd, Huawei Technologies Co. Ltd., Chint Power Systems Co. Ltd., Ginlong Tech Co Ltd, Fronius International GmbH, SMA Solar Technology AG, Eaton Corporation Plc

String Inverter Market Size