How will the global inverter market perform in 2025?

Following a challenging 2024, the global inverter market is expected to return to revenue growth, with total revenue estimated to reach just under $20 billion in 2025.

Will inverter revenue rise in 2025?

However, European inverter revenue in 2025 will remain below 2023 levels as high levels of competition forces price reductions in the market. Elsewhere, revenue in the United States is forecast to rise by 16% in 2025 as the residential market recovers from a slowdown in demand and inventory oversupply.

What is the global inverter market size?

The market sizing and forecasts are revenue-based (USD Million/Billion), with 2024 as the base year. The global inverter market size accounted for USD 22.65 billion in 2024 and is predicted to increase from USD 26.23 billion in 2025 to approximately USD 98.21 billion by 2034, expanding at a CAGR of 15.80% between 2025 and 2034.

What is the future of PV inverters?

The market for PV inverters is set to experience significant growth, as the demand for renewable energy continues to grow. The utility segment will continue to lead, but growth is anticipated in the rest of the sectors such as housing and business.

Is global inverter manufacturing overcapacity a problem in 2025?

S&P Global Commodity Insights estimates that global inverter manufacturing capacity topped 1 TW at the start of 2025, far ahead of forecasts for 2025 demand at 538 GWac. Overcapacity woes are added to by new entrants emerging from adjacent industries such as the white goods and portable electronics industries.

What are the major markets for inverters in 2023?

In North America, the US and Canada are the major markets for inverters. By Product, the central inverter segment generated more than 49% of the revenue share in 2023. By End Use, the utility segment dominated the market and captured more than 47% of the revenue share in 2023.