String Inverter Market Report 2026

String Inverter Market Overview

• String Inverter market size has reached to $4.28 billion in 2025 • Expected to grow to $5.93 billion in 2030 at a compound annual growth rate (CAGR) of 6.7% • Growth Driver: Growth In Residential Solar Installations Is Anticipated To Fuel String Inverters Market • Market Trend: Innovative Hybrid Solution For High-Efficiency Low-Voltage Solar Pv Systems • Asia-Pacific was the largest region in 2025.

What Is Covered Under String Inverter Market?

The string inverter refers to a device that converts the energy generated by solar arrays (Direct Current) into usable power for a residence (Alternating Current). A solar array is a group of several solar panels that work together to generate power. A string Inverter is a stand-alone box with inputs for connecting strings of solar panels into a single unit. Six to ten separate solar panels are usually linked together in a string-like sequence, with the end hooked into the central inverter. The main type of connections in string inverters is on-grid and off-grid. On-grid string inverter connection refers to a solar power system connected to the utility's power grid. The extra energy generated is sent to the utility system, and the consumer gets a refund. Similarly, if the system generates insufficient power, the customer can consume electricity from the grid and pay for the units consumed. The string inverters operate on different nominal output voltages including less than 230 volts, between 230 to 400, between 400 to 600, and above 600. The string inverter power ratings range from up to 10 kW, between 11 kW to 40 kW, 41 kW to 80 kW, and above 80 kW. These inverters are used by residential, commercial & industrial, and utility entities.

What Is The String Inverter Market Growth Forecast?

The string inverter market size is expected to see strong growth in the next few years. It will grow to $5.93 billion in 2030 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to rising demand for high-efficiency hybrid inverters, expansion of utility-scale solar projects, increasing adoption of smart energy management systems, development of advanced mppt technologies, growth of inverter-integrated storage solutions. Major trends in the forecast period include expansion of sustainable solar power conversion, growth of IoT-enabled inverter monitoring, rise of intelligent manufacturing for solar electronics, adoption of cloud-based inverter analytics, integration of inverters in ev-oriented energy systems.

Global String Inverter Market Segmentation

1) By Connection Type: On-Grid, Off-Grid 2) By Nominal Output Voltage: = 230 V, 230 - 400 V, 400 - 600 V, > 600 V 3) By Power Rating: Up to 10 kW, 11 kW – 40 kw, 41 kW – 80 kW, Above 80 kW 4) By End Use Industry: Residential, Commercial and Industrial, Utilities Subsegments: 1) By On-Grid: Standard On-Grid Inverters, Hybrid On-Grid Inverters, Grid-Tied Inverters with Battery Backup 2) By Off-Grid: Standalone Off-Grid Inverters, Off-Grid Inverters with Battery Storage, Inverters for Remote Applications 3) By Other Connection Types: Micro-Inverters, Power Optimizers

What Is The Driver Of The String Inverter Market?

The growth in residential solar installations is expected to propel the string inverters market going forward. Residential solar installations refer to the installation of solar panels on residential properties to generate electricity from the sun's energy. String inverters are used in both on-grid and off-grid systems, providing users with the ability to monitor the system’s performance and health, which is driving their adoption in the residential sector. For instance, in February 2023, according to Energy Live, a UK-based independent energy news provider, 73% of the UK's new solar capacity came from small-scale residential solar panel installations. The UK now boasts over 1,265,000 registered solar power installations, with approximately 1.1 million of these located on residential properties. Therefore, the Growth in Residential solar installations is driving the string inverters industry.

Key Players In The Global String Inverter Market

Major companies operating in the string inverter market are Chint Group Corp., Delta Electronics Inc., Growatt New Energy Technology Co. Ltd., Siemens AG, SMA Technologies AG, Fimer S.p.A., SolarEdge Technologies Ltd., Ginlong Technologies Co., SolarMax Energy pvt. Ltd., Huawei Technologies Co. Ltd., ABB Ltd., KACO New Energy GmbH, Ningbo Ginlong Technologies Co. Ltd., Fronius International GmbH, Eaton Corporation Plc, Altenergy Power System, Darfon Electronics Corporation, Sungrow Power Supply Co. Ltd., CC Power Electronics Ltd., Schneider Electric SE, Delta Energy Systems Gmbh, TMEIC Corporation, Advanced Energy Industries Inc., Kostal Solar Electric GmbH, REFUsol GmbH, Danfoss Solar Inverters A/S

Global String Inverter Market Trends and Insights

Major companies operating in the string inverters market are launching innovative hybrid solutions such as low-voltage hybrid inverter, to increase efficiency in string inverter market. A low-voltage hybrid inverter is a type of inverter that is designed to work with low-voltage batteries, typically between 42V and 59V. For instance, in May 2023, SolaX Power, a China-based solar inverter manufacturer, launched its latest innovation, the X1-Hybrid LV. This low-voltage hybrid inverter, designed for residential applications, boasts superior efficiency for solar PV systems. The X1-Hybrid LV operates at lower voltages than traditional inverters, supports high-power solar panels, and provides reliable backup power with the ability to connect up to 10 inverters. It features a distinctive design with a colorful LCD touchscreen and supports various battery types, including lithium and lead-acid. When paired with SolaX batteries such as T-BAT-SYS-LV R2.5 and R3.6, it offers enhanced performance. It also ensures user safety with its IP65 protection and integrated safety features.

What Are Latest Mergers And Acquisitions In The String Inverter Market?

In July 2023, CLEMENTY Group, a UK-based investment firm, is expected to acquire Fimer for an undisclosed amount. The acquisition will give FIMER with the financial resources it needs to continue its operations, pay creditors, hire new employees, and relaunch the Society. Fimer is a Italy-based company specializing in solar inverters and mobility system.

Regional Outlook

Asia-Pacific was the largest region in the string inverter market share in 2025. The regions covered in this market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in this market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

What Defines the String Inverter Market?

The string inverter market consists of sales of straight string inverters and optimized string inverters. 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.

How is Market Value Defined and Measured?

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.

What Key Data and Analysis Are Included in the String Inverter Market Report 2026?

The string inverter market research report is one of a series of new reports from The Business Research Company that provides market statistics, including industry global market size, regional shares, competitors with the market share, detailed market segments, market trends and opportunities, and any further data you may need to thrive in the string inverter industry. The market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.