Global top 10 solar photovoltaic (PV) inverter vendors shored up 82% of market share in 2021, increasing by 2 percentage points compared to 2020, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK). Global PV inverter shipments grew 22% or 40,250 MWac (mega-watt, alternating current) to 225,386 MWac in 2021 compared to 2020.
The top 10 global solar photovoltaic (PV) inverter vendors accounted for 86% of market share in 2022, increasing by 4% year-over-year since 2021, according to latest analysis by Wood Mackenzie, a global insight business for renewables, energy and natural resources.
The global PV inverter market size was estimated at USD 13.09 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 18.3% from 2024 to 2030.
The PV inverter market size is valued at US$ 15.28 billion by 2024, from US$ 41.87 billion in 2031, at a CAGR of 15.5% during the forecast period.
The US Solar Inverter market size is expected to grow from US$ 825.86 million in 2022 and is expected to reach US$ 2,773.99 million by 2030; it is estimated to record a CAGR of 12.8% from 2022 to 2030. Market Introduction. Major developments have been observed in the US solar inverter market.
The top 10 global solar photovoltaic (PV) inverter vendors accounted for 86% of market share in 2022, increasing by 4% year-over-year since 2021, according to latest analysis by Wood Mackenzie, a global insight business for renewables, energy and natural resources.
The global solar PV inverter market reached a value of almost USD 8.45 billion in the year 2023. The market is further expected to grow at a CAGR of 5% between 2024 and 2032 and to reach a value of almost USD 13.13 billion by 2032. Solar PV Inverter Market Outlook.
Our latest ''Global Solar PV Inverter and Module-Level Power Electronics Market Share 2023'' report reveals a buoyant market in 2023, with 48% year-over-year growth in global PV inverter shipments.
The top 10 global solar inverter vendors accounted for 86% of market share in 2022, increasing by 4% year-over-year since 2021, according to a recent study by Wood Mackenzie.
Statistics for the 2024 Solar PV Inverter market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Solar PV Inverter analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.