Expert Market Research Explores the Top 8 Companies in the Global Solar PV Inverter Market

Schneider Electric SE, Siemens AG, Mitsubishi Electric US, Inc., General Electric Company, Huawei Technologies Co., Ltd, FIMER Group, SolarEdge Technologies Inc, and Toshiba International Corporation, among others are the major players in the global solar PV inverter market.

The global solar PV inverter market size reached a value of almost USD 7.3 billion in the year 2020. The solar PV inverter market is further expected to grow at a CAGR of 5% between 2022 and 2027. As per the analysis by Expert Market Research, the market is expected to be driven by the rising environmental concerns about greenhouse emissions.

Solar inverter is one of the most important components of a solar power system. Its primary function is to convert solar panels' direct current (DC) to alternating current (AC). Apart from this, solar inverters help maximize electricity production by constantly varying the resistance (load) while also ensuring compliance with regulations about feeding electricity into the grid.

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North America, the Middle East and Africa, Latin America, Europe, and the Asia Pacific are the major regions in the industry. Asia Pacific is expected to hold a majority of the share of the market over the forecast period, owing to the increase in investments in the construction section. With the increasing pollution concerns across the globe due to industrialisation, particularly in Asia Pacific, regional solar power generation has augmented significant momentum.

The increasing cost of fossil fuels is making solar power a more economical energy source. Solar inverter prices have also dropped in recent years, making them more accessible to the general public. This has resulted in solid growth in installing solar electric systems across both developed and developing regions across the globe. The market has also witnessed substantial growth due to the increasing demand for renewable energy due to large power consumption and decreased renewable power generation costs. Some other factors driving this market include the need for rural electrification, technological advancements, rise in the number of residential solar rooftop installations increasing government support, and rising investments in renewable energy.

Top 8 Global Solar PV Inverter Companies:

Schneider Electric SE

Headquarters: Rueil-Malmaison, France
Establishment:  1836
Website:  https://www.se.com/ww/en/

Schneider Electric SE is a multinational firm based in France that specialises in energy and automation digital solutions for increased efficiency and sustainability. It enables integrated corporate management for homes, buildings, data centres, infrastructure, and industries by integrating world-leading process and energy technologies, endpoint to cloud connecting devices, controls, software, and services across the full lifespan.   With proven expertise in solar power conversion and energy management, Schneider Electric utilises best-in-class technology to power photovoltaic systems throughout the world.

Siemens AG

Headquarters: Munich, Germany 
Establishment: 1847
Website:  https://www.siemens.com/global/en.html

SIEMENS AG, as a focussed technology company, develops technology that enables our clients to positively improve the industries that support economies- manufacturing, infrastructure, transportation, and healthcare. The company creates technology with a purpose, creating actual value for clients, from more resource-efficient industries, robust supply chains, and smarter buildings and grids to cleaner and more comfortable transportation and enhanced healthcare. Siemens allows its customers to improve their industries and markets by connecting the physical and digital worlds, enabling them to transform the everyday lives of billions of people. Siemens uses renewable energy sources and offers innovative solutions and comprehensive experience across the entire range of technology for solar photovoltaic systems.

Mitsubishi Electric US, Inc.

Headquarters: California, United States
Establishment: 1973
Website:  https://us.mitsubishielectric.com/en/

Mitsubishi Electric is a globally recognised leader in the design, manufacture, marketing, and distribution of electrical and electronic equipment and systems for a wide range of industries and applications. The company is using its innovations to contribute to society and everyday living around the world as a worldwide, leading green company. Semiconductors, automotive electrical components, elevators and escalators, cooling and heating products, industrial-use factory automation products, display walls, digital printers, digital signage, satellite systems, large-scale video displays and power generators, transmission and distribution equipment, and railway systems are among the company's primary products.

General Electric Company

Headquarters:  Boston, Massachusetts, United States
Establishment: 1892 
Website:  https://www.ge.com/

The General Electric Company is an industrial firm. Power, renewable energy, aviation and healthcare, and electrical and electronic equipment are the company's industrial segments, while capital is the company's financial services segment. It has one of the world's largest lines of electrical consumer items. GE is also a leader in providing additive manufacturing, materials science, and data analytics technologies. GE makes solar inverters, switchgear and other solar-related equipment, and is heavily involved in financing and investing in large-scale wind power projects. It is amongst one of the world's leading suppliers of onshore wind turbines and has big ambitions for the offshore market.

Huawei Technologies Co., Ltd

Headquarters: Shenzhen, China 
Establishment: 1987 
Website:  https://www.huawei.com/en/

Huawei is a major global provider of information and communication technology (ICT) infrastructure and smart goods. The company develops powerful digital platforms to enable all sectors and organisations become more agile, efficient, and dynamic by providing the most powerful processing capacity to deliver ubiquitous cloud and intelligence. Huawei further incorporates many latest ICT technologies with PV for optimal power generation by integrating AI and cloud, making the solar power plant highly efficient, safe and reliable with smart O&M and grid supporting capabilities, laying the groundwork for solar to become the primary energy source.

FIMER Group

Headquarters: Vimercate, Italy
Establishment:  1942
Website:  https://www.fimer.com/

FIMER is the world's fourth largest solar inverter manufacturer. It offers a broad solar solutions portfolio across all applications, specialising in solar inverters and mobility systems. Fimer is a manufacturer and supplier of inverters and electronic products. It offers solar inverters, modular power systems, AC and DC charging systems, mask, toolbox, DC combiner boxes, storage devices, electronic PCB, cooling units, exhibitors, cleaners, and other electrical accessories.

SolarEdge Technologies Inc

Headquarters: Herzliya, Israel 
Establishment: 2006 
Website:  https://www.solaredge.com/

SolarEdge, which was founded in 2006, pioneered the DC optimised inverter solution, which revolutionised the way power is captured and controlled in photovoltaic (PV) systems. For a better return on investment, the SolarEdge intelligent inverter solution maximises power generation while minimising the cost of energy provided by the PV system. SolarEdge's diversified product offering, which includes residential, commercial, and large-scale PV, energy storage and backup solutions, EV charging, home energy management, grid services and virtual power plants, batteries, and uninterrupted power supply (UPS) solutions, continues to advance smart energy.

TOSHIBA International Corporation

Headquarters: Houston, Texas 
Establishment: 1875 
Website:  https://www.toshiba.com/tic/

General industrial, renewables, oil and gas, utilities, datacenters, HVAC, water/wastewater, and mining are among the industries for which TIC delivers application solutions. Heavy industrial electrical equipment and power producing equipment are manufactured and sold by the company. It sells motors, power electronics, controls and high-voltage switchgear, lighting, batteries, and systems and services such as hydropower plants, thermal and geothermal power plants, cogeneration power plants, combined cycle power plants, transmission and distribution, and plant maintenance and support. Toshiba uses a whole engineering approach that includes analysis, design, and execution to create mega-solar systems with high efficiency and long-term stability, from the installation of solar battery modules through connectivity with power systems.

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.