Inverter Global Market Report 2026

Inverters are circuits that convert DC current from sources such as batteries or fuel cells into AC current. They also control the speed and torque of electric motors.

The primary types of inverters include solar inverters, vehicle inverters, and others, such as UPS. Solar inverters are devices that convert the direct current (DC) electricity generated by solar panels into alternating current (AC) electricity. They can be connected to the grid or operate off-grid, and they come in single-phase and three-phase configurations. These inverters are used directly and indirectly by various end-users, including residential, industrial, and commercial sectors.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs are impacting the inverter market by increasing costs for semiconductors, power modules, transformers, and control electronics used in solar, vehicle, and industrial inverter systems, leading to higher manufacturing costs and extended delivery cycles. Regions such as Asia Pacific, Europe, and North America, which depend heavily on imported electronic components, experience significant disruptions in production planning. Segments including solar inverters, vehicle inverters, and UPS inverters face the strongest effects due to their reliance on specialized power electronics. However, tariffs also encourage localized manufacturing, supplier diversification, and innovation in cost effective inverter designs.

The inverter market size has grown rapidly in recent years. It will grow from $17.32 billion in 2023 to $20.43 billion in 2024 at a compound annual growth rate (CAGR) of 17.9%. The growth in the historic period can be attributed to increasing adoption of renewable energy sources, government incentives, rising energy consumption, consumer electronics boom, automotive electrification.

The inverter market size has grown rapidly in recent years. It will grow from $23.18 billion in 2025 to $26.9 billion in 2026 at a compound annual growth rate (CAGR) of 16.0%. The growth in the historic period can be attributed to rise in adoption of renewable energy systems, increasing demand for motor control applications, early growth in inverter based ups systems, rise in residential and commercial solar installations, expansion of industrial automation equipment.

The inverter market size is expected to see rapid growth in the next few years. It will grow to $48.07 billion in 2030 at a compound annual growth rate (CAGR) of 15.6%. The growth in the forecast period can be attributed to rising demand for vehicle electrification inverters, increasing adoption of hybrid and off grid solar systems, growth in smart grid and digital energy platforms, rising development of high power density inverter technologies, increasing focus on energy efficiency regulations. Major trends in the forecast period include increasing deployment of high efficiency inverters for electric mobility, rising adoption of sustainable and energy optimized inverter technologies, advancement in automated manufacturing and power electronics integration, growing use of smart connected inverters for real time monitoring, increasing implementation of digital power management and control systems.

The rising demand for electric vehicles (EVs) is anticipated to drive growth in the inverter market in the coming years. Electric vehicles are powered by motors that utilize electricity stored in batteries, operating on electric motors and recharging through electricity instead of fossil fuels. Inverters in EVs play a crucial role by adjusting the frequency of the alternating current to change the motor's rotational speed. For example, in January 2024, a report by Kelley Blue Book, a U.S.-based company under Cox Automotive, indicated that in 2023, a record 1.2 million car buyers in the United States purchased electric vehicles, representing 7.6% of the total U.S. vehicle market, up from 5.9% in 2022. As a result, the increasing demand for electric vehicles is propelling the inverter market.

Key players in the inverter market are concentrating on developing innovative products, such as microinverters, to deliver reliable services to their customers. Microinverters are compact devices used in solar photovoltaic (PV) systems, converting the direct current (DC) generated by individual solar panels into alternating current (AC). For example, in August 2024, Enphase Energy Inc., a US-based energy technology firm, introduced its IQ8 Microinverters, including the IQ8HC and IQ8P models. These microinverters are engineered to optimize energy production and can handle a continuous direct current (DC) of 14 amperes, enabling them to support higher-powered solar modules through enhanced energy harvesting. With inverter efficiencies reaching up to 97.7%, these models ensure optimal energy conversion and are specifically tailored for the latest high-output solar technologies.

In October 2023, Infineon Technologies, a Germany-based semiconductor manufacturing company, acquired GaN Systems for $830 million. This acquisition is intended to bolster Infineon's power semiconductor capabilities and advance the development of efficient solutions for electric vehicles and renewable energy applications. GaN Systems is a Canada-based firm that specializes in providing inverters.

Major companies operating in the inverter market are Mitsubishi Electric Corporation, Huawei Technologies Co. Ltd., General Electric Company, Schneider Electric SE, Eaton Corporation, Delta Electronics Inc., OMRON Corporation, Chint Group Co. Ltd., Sungrow Power Supply Co. Ltd., Yaskawa Electric Corporation, KOSTAL Solar Electric GmbH, SolarEdge Technologies Inc., Enphase Energy Inc., Advanced Energy Industries Inc., TMEIC Corporation, Fronius International GmbH, Ingeteam India Pvt. Ltd., Ginlong Technologies Co. Ltd., KSTAR New Energy Co. Ltd., Sineng Electric Co. Ltd., Growatt New Energy Technology Co. Ltd., Hitachi Hi-Rel Power Electronics Pvt. Ltd., Tabuchi Electric Co. Ltd., GoodWe Power Supply Technology Co. Ltd., KACO new energy GmbH, Xantrex Technology Inc., FIMER S.p.A, SMA Solar Technology AG, Power Electronics S.L.

Asia-Pacific was the largest region in the inverter market in 2025. The regions covered in the inverter market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the inverter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The inverter market consists of sales of voltage source inverters, current source inverters, microcontrollers, transistors, filters, H-bridges, central inverters, string inverters, micro-inverters, on-grid inverters, off-grid inverters, single-phase and three-phase inverters, and other types. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Inverter Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses inverter market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 16 geographies.
• Assess the impact of key macro factors such as geopolitical conflicts, trade policies and tariffs, inflation and interest rate fluctuations, and evolving regulatory landscapes.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on end user analysis.
• Benchmark performance against key competitors based on market share, innovation, and brand strength.
• Evaluate the total addressable market (TAM) and market attractiveness scoring to measure market potential.
• Suitable for supporting your internal and external presentations with reliable high-quality data and analysis
• Report will be updated with the latest data and delivered to you within 2-3 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for inverter ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The inverter market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Inverter Type: Solar Inverter; Vehicle Inverter; Other Types
• 2) By Connection Type: On-Grid; Off-Grid
• 3) By Phase: Single Phase; Three Phase
• 4) By Sales Channel: Direct; Indirect
• 5) By End-User: Residential; Industrial; Commercial
• Subsegments:
• 1) By Solar Inverter: String Inverter; Central Inverter; Micro Inverter; Hybrid Inverter
• 2) By Vehicle Inverter: Modified Sine Wave Inverter; Pure Sine Wave Inverter; Inverter Chargers
• 3) By Other Types: Grid-Tie Inverter; Off-Grid Inverter; UPS Inverter (Uninterruptible Power Supply); Battery Inverter
• Companies Mentioned: Mitsubishi Electric Corporation; Huawei Technologies Co. Ltd.; General Electric Company; Schneider Electric SE; Eaton Corporation; Delta Electronics Inc.; OMRON Corporation; Chint Group Co. Ltd.; Sungrow Power Supply Co. Ltd.; Yaskawa Electric Corporation; KOSTAL Solar Electric GmbH; SolarEdge Technologies Inc.; Enphase Energy Inc.; Advanced Energy Industries Inc.; TMEIC Corporation; Fronius International GmbH; Ingeteam India Pvt. Ltd.; Ginlong Technologies Co. Ltd.; KSTAR New Energy Co. Ltd.; Sineng Electric Co. Ltd.; Growatt New Energy Technology Co. Ltd.; Hitachi Hi-Rel Power Electronics Pvt. Ltd.; Tabuchi Electric Co. Ltd.; GoodWe Power Supply Technology Co. Ltd.; KACO new energy GmbH; Xantrex Technology Inc.; FIMER S.p.A; SMA Solar Technology AG; Power Electronics S.L.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery Format: Word, PDF or Interactive Report
• + Excel Dashboard
• Added Benefits
• Bi-Annual Data Update
• Customisation
• Expert Consultant Support

Added Benefits available all on all list-price licence purchases, to be claimed at time of purchase. Customisations within report scope and limited to 20% of content and consultant support time limited to 8 hours.