According to Cognitive Market Research, the global String Inverter market size was USD 5521.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 6.80% from the year 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 2208.60 million in 2024 and will rise at the compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 1656.45 million.
Asia Pacific held a 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 the year 2024 to 2031.
Latin America had a market share of more than 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.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 110.43 million in 2024 and will rise at the compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.
The off-grid category is the fastest growing segment of the String Inverter industry
