Market Overview

According to fortune business insights, the global photovoltaic inverters market size was valued at USD 18.37 billion in 2025. The market is projected to grow from USD 21.77 billion in 2026 to USD 84.81 billion by 2034, exhibiting a CAGR of 18.53% during the forecast period.

The insights are available in the latest research report, titled “Photovoltaic Inverters Market Report.”

The analysis shows that the market for photovoltaic (PV) inverters, which convert DC voltage from solar arrays into AC current, is being driven by a global shift towards renewable energy. Factors such as government targets to reduce carbon emissions, lucrative subsidies, and the declining cost of solar components are escalating solar installations and, in turn, fueling the growth of the PV inverter market.

Major Players Profiled in the Market Report:

• ABB
• SMA Solar Technology
• Sungrow Power Supply Co., Ltd.
• Enphase Energy
• Schneider Electric
• Tabuchi Electric Co., Ltd.
• Elettronica Santerno
• TMEIC
• Panasonic
• The Furukawa Battery Co., Ltd.
• Growatt New Energy Technology
• Shenzhen KSTAR
• REFU Elektronik GmbH
• SatCon
• Sineng