String Inverter Market Report 2025 (Global Edition)

Global String Inverter Market Report 2025 Market Size Split by Connection Type (On-Grid, Off-Grid), by Phase (Single Phase, Three Phase), by Power Rating (Up to 10kW, 11kW to 40kW, 41kW to 80kW, Above...

String Inverter Market Report Description

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String Inverter Market Insights Video

Competitive Landscape of the String Inverter Market

The string inverter market is highly competitive, featuring primary players leading through technological innovation, offering modern, efficient, and reliable inverters with integrated monitoring systems. Competition intensifies as manufacturers focus on expanding their product portfolios, enhancing inverter efficiency, and providing cost-effective solutions. The market's competitive edge lies in offering high-quality, scalable products for residential and commercial solar installations, while central inverters are challenged in large-scale projects.

In September 2022, Yaskawa Solectria Solar partnered with First Solar. Both companies are working to improve the Solectria XGI 1500-250 utility-scale string inverters for First Solar's thin-film cadmium telluride solar modules. The partnership focuses to generate a version of the XGI 1500-250 utility-scale string inverter that help a grounded DC input. (Source: https://www.solectria.com/site/assets/files/2995/pr_yss_06_-_yaskawa_solectria_solar_enhances_the_solectriar_xgi_1500-250_in_partnership_with_first_solar.pdf)

Top Companies Market Share in String Inverter Industry: (In no particular order of Rank)

• Fimer Group
• Siemens
• Schneider Electric
• Darfon Electronics Corp.
• Growatt New Energy
• Sungrow
• SMA Solar Technology AG
• Sineng Electric Co. Ltd.
• Hitachi Hi-Rel Power Electronics Private Limited
• Delta Electronics
• Inc.
• Fronius International GmbH
• Huawei Technologies Co.
• Ltd.
• SolarEdge Technologies
• Inc.
• Eaton
• SHENZHEN SOFARSOLAR CO.
• LTD.
• GoodWe
• Ginlong Technologies
• Panasonic Corporation
• Confidential Data
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• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the String Inverter Market

Which Region Dominates the String Inverter Market in 2024?

According to Cognitive Market Research, North America currently dominates the String Inverters market, and the region is expected to have significant growth during the projected period. This is due to high adoption rates of residential and commercial solar installations, supportive government policies, and renewable energy incentives.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR) due to rapid solar energy adoption, supportive government policies, and increasing investments in renewable infrastructure.

The current report Scope analyzes String Inverter Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America String Inverter Market Analysis

According to Cognitive Market Research, the global String Inverter market size is estimated at USD 5521.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 2208.60 million in 2024 and will rise at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the String Inverter market with a market size of USD 1742.59 million in 2024 and is foreseen to rise at the CAGR of 4.8% during the forecast period due to the government incentives for renewable installations.
• The Canada String Inverter market had a market share of USD 265.03 million in 2024 and is foreseen to rise at the CAGR of 5.8% during the forecast years due to the growing consumer demand for energy-efficient solutions.
• The Mexico String Inverter market is foreseen to experience growth at a CAGR of 5.5% during the forecast period, with a market size of USD 200.98 million in 2024.

Europe String Inverter Market Analysis

According to Cognitive Market Research, the global String Inverter market size is estimated at USD 5521.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 1656.45 million in 2024 and will rise at the compound annual growth rate (CAGR) of 5.3% from 2024 to 2031.

• The United Kingdom String Inverter market had a market share of USD 278.28 million in 2024 and is foreseen to rise at a CAGR of 6.1% during the forecast years. In the UK, String Inverter sales witness an upswing due to the increasing investments in solar power installations.
• The France String Inverter market is foreseen to experience growth at a CAGR of 4.5% during the forecast years, with a market size of USD 152.39 million in 2024.
• According to Cognitive Market Research, the German String Inverter market size was valued at USD 327.98 million in 2024 and is foreseen to rise at a CAGR of 5.5% during the forecast years. In Germany, string inverters surged due to a strong focus on achieving carbon neutrality and sustainability targets.
• The Italy String Inverter market is foreseen to experience growth at a CAGR of 4.7% during the forecast years, with a market size of USD 142.45 million in 2024.
• The Russia String Inverter market is foreseen to experience growth at a CAGR of 4.3% during the forecast years, with a market size of USD 256.75 million in 2024.
• The Spain String Inverter market is foreseen to experience growth at the CAGR of 4.4% during the forecast years with a market size of USD 135.83 million in 2024
• The Luxembourg String Inverter market is foreseen to experience growth at a CAGR of 5.4% during the forecast years, with a market size of USD 51.35 million in 2024.
• The Portugal String Inverter market is foreseen to experience growth at a CAGR of 5.1% during the forecast years, with a market size of USD 34.79 million in 2024.
• The Greece String Inverter market is foreseen to experience growth at a CAGR of 5.6% during the forecast years, with a market size of USD 19.88 million in 2024.
• The Rest of Europe's String Inverter market is foreseen to experience growth at the CAGR of 4.0% during the forecast period, with a market size of USD 256.75 million in 2024.

Asia Pacific String Inverter Market Analysis

According to Cognitive Market Research, the global String Inverter market size is estimated at USD 5521.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 1269.95 million in 2024 and will rise at the compound annual growth rate (CAGR) of 8.8% from 2024 to 2031.

• According to Cognitive Market Research, the China String Inverter market size was valued at USD 571.48 million in 2024 and is foreseen to rise at a CAGR of 8.3% during the forecast years. String Inverter surged in China due to a growing demand for residential solar installations.
• The Japan String Inverter market is foreseen to experience growth at a CAGR of 7.3% during the forecast years, with a market size of USD 175.25 million in 2024.
• The India String Inverter market had a market share of USD 152.39 million in 2024 and is foreseen to rise at the CAGR of 10.6% during the forecast years due to rapid urbanization .
• The South Korean String Inverter market is foreseen to experience growth at a CAGR of 7.9% during the forecast period, with a market size of USD 126.99 million in 2024.
• The Australian String Inverter market is foreseen to experience growth at a CAGR of 8.5% during the forecast period, with a market size of USD 66.04 million in 2024.
• The South East Asia String Inverter market is foreseen to experience growth at a CAGR of 9.8% during the forecast period, with a market size of USD 87.63 million in 2024.
• The Rest of the Asia Pacific String Inverter market is foreseen to experience growth at the CAGR of 8.6% during the forecast period, with a market size of USD 90.17 million in 2024.

South America String Inverter Market Analysis

According to Cognitive Market Research, the global String Inverter market size is estimated at USD 5521.5 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 276.08 million in 2024 and will rise at the compound annual growth rate (CAGR) of 6.2% from the year 2024 to 2031.

• According to Cognitive Market Research, the Brazil String Inverter market size was valued at USD 118.16 million in 2024 and is foreseen to rise at a CAGR of 6.8% during the forecast years. String Inverters flourished in Brazil due to the government incentives for solar adoption.
• Argentina's String Inverter market had a market share of USD 46.38 million in 2024 and is foreseen to rise at the CAGR of 7.1% during the forecast years due to the increasing energy demand in remote areas .
• Colombia String Inverter market is foreseen to experience growth at a CAGR of 6.0% during the forecast years, with a market size of USD 24.57 million in 2024.
• Peru String Inverter market is foreseen to experience growth at a CAGR of 6.4% during the forecast years, with a market size of USD 22.64 million in 2024.
• Chile String Inverter market is foreseen to experience growth at a CAGR of 6.5% during the forecast years, with a market size of USD 19.88 million in 2024.
• The Rest of Latin America's String Inverter market is foreseen to experience growth at the CAGR of 5.3% during the forecast years, with a market size of USD 44.45 million in 2024.

Middle East String Inverter Market Analysis

According to Cognitive Market Research, the global String Inverter market size is estimated at USD 5521.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 110.43 million in 2024 and will rise at the compound annual growth rate (CAGR) of 6.5% from the year 2024 to 2031..

• The GCC Countries String Inverter market is foreseen to experience growth at a CAGR of 7.3% during the forecast period, with a market size of USD 47.26 million in 2024. String Inverter sales flourish due to the increased adoption of solar power for energy security.
• The Egypt String Inverter market is foreseen to experience growth at a CAGR of 6.8% during the forecast period, with a market size of USD 11.60 million in 2024.
• The South Africa String Inverter market is foreseen to experience growth at a CAGR of 7.5% during the forecast years, with a market size of USD 17.45 million in 2024. String Inverter sales flourished in South Africa due to government initiatives that supported sustainable energy solutions.
• The Turkey String Inverter market is foreseen to experience growth at a CAGR of 6.0% during the forecast years, with a market size of USD 9.50 million in 2024.
• The Nigeria String Inverter market is foreseen to experience growth at a CAGR of 5.6% during the forecast years, with a market size of USD 11.60 million in 2024.
• The Rest of the MEA String Inverter market is foreseen to experience growth at the CAGR of 5.5% during the forecast period, with a market size of USD 13.03 million in 2024.

String Inverter Market Analysis

String Inverter Market Connection Type Segment Analysis

According to Cognitive Market Research, on-grid String Inverters are likely to dominate the String Inverter Market over the forecast period due to their compatibility with existing electrical grids, enabling solar energy to be fed back into the grid. This feature maximizes energy efficiency and cost savings for consumers, boosting the adoption of residential and commercial solar installations while supporting energy independence and sustainability.

The off-grid is the fastest-growing segment in the String Inverter Market due to increasing demand for energy independence in remote areas. They provide reliable power solutions for residential and rural applications, driven by advancements in battery storage technology and a rising focus on renewable energy.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of String Inverter Industry. Request a Free Sample PDF!

String Inverter Market Phase Segment Analysis

According to Cognitive Market Research, the three-phase category held the biggest revenue share of the market due to its ability to efficiently manage larger solar installations, providing higher power output and better performance in commercial and industrial applications. They offer improved energy conversion efficiency, reduced losses, and enhanced grid stability, making them a preferred choice for medium to large-scale solar projects.

In the String Inverter Market, the three-phase sector has been surging at a fast pace due to their higher efficiency and capacity to manage larger solar installations. They offer better performance in commercial and industrial applications, enabling more effective energy management and reduced operational costs.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

String Inverter Power Rating Segment Analysis

String Inverter Market Power Rating Segment Analysis

According to Cognitive Market Research, the 41kW to 80kW segment holds the largest market share due to its versatility in medium to large commercial solar installations. This range offers an optimal balance of efficiency, cost-effectiveness, and scalability, making them ideal for various applications while meeting increasing energy demands.

In the String Inverter market, the rapidly growing sector is the Above 80kW category due to increasing demand for utility-scale solar projects. Their efficiency, scalability, and cost-effectiveness make them ideal for large installations, enabling developers to optimize energy production and reduce overall system costs.

• Up to 10kW
• 11kW to 40kW
• 41kW to 80kW
• Above 80kW

String Inverter End-User Segment Analysis

String Inverter Market End User Segment Analysis

According to Cognitive Market Research, the residential segment dominates the market because of the growing adoption of solar energy solutions among homeowners seeking energy independence and cost savings. Incentives, decreasing installation costs, and increased awareness of renewable energy benefits further drive demand for string inverters in residential solar installations.

Utilities category is projected to be the fastest-growing segment in the String Inverter market due to increasing investments in renewable energy projects, such as solar farms. String inverters provide flexibility, scalability, and cost efficiency, making them ideal for large-scale utility applications and grid integration.

• Residential
• Commercial & Industrial
• Utility

Author's Detail

Aarti Bagekari

Research Associate at Cognitive Market Research

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Profile

I am Aarti Bagekari, worked as a research associate with strong passion for transforming complex information into strategic insights. My strong analytical skills, coupled with a deep understanding of market dynamics and consumer behavior, empower me to identify hidden opportunities and proactively mitigate risks for clients. As a part of team, I possess a skills in data analysis, segmentation, competitive landscape.

Author's Conclusion