세계의 태양광 발전 인버터 시장 규모는 2024년 87억 달러에 달했습니다. 향후 IMARC Group은 2033년에는 126억 달러에 이르고, 2025-2033년까지 성장률(CAGR)은 4.18%가 될 것으로 예측했습니다. 정부의 대처나 정책의 실시, 태양광 발전 인버터의 비용 저하, 세계의 에너지 수요 증가, 급속한 기술 진보 등이 시장을 추진하고 있는 주요 요인입니다.
태양광 발전(PV) 인버터는 태양전지판에 의해 생성된 직류 전류를 교류 전류(AC)로 변환하는 태양에너지 시스템의 중요한 구성 요소입니다. 파워 트랜지스터, 트랜스포머, 복잡한 소프트웨어 제어 등의 주요 부품으로 구성되어 있습니다. 태양광 발전 인버터는 주택, 상업 빌딩, 농업, 교통, 도시 계획, 우주 기술, 원격 전력 시스템, 송전망 지원, 환경 보전 활동 등 다양한 분야에서 응용되고 있습니다. 태양광 에너지의 실용적인 이용을 가능하게 하고, 에너지의 자립을 촉진하고, 재생가능한 에너지원을 제공하며, 고정가격 임베디드 제도를 통해 잠재적인 수입을 가져오고, 이산화탄소 배출량을 삭감합니다.
효율성과 신뢰성을 지속적으로 향상시키고, 열 관리를 개선하고, 태양광 발전 인버터의 용량을 증가시키는 최근의 기술 발전이 시장 성장을 가속하고 있습니다. 이 외에도 그리드 지원 기능과 고급 모니터링 기능을 제공하여 최적의 시스템 운영과 유지보수를 보장하는 스마트 인버터의 도입도 성장을 가속하는 요인이 되고 있습니다. 게다가 대중의 환경 의식이 높아지면 태양광 발전과 같은 신재생에너지로의 변화를 촉진하여 시장 성장에 기여하고 있습니다. 이와는 별도로, 태양광을 이용할 수 없을 때 사용하기 위해 잉여 태양광 발전을 저장할 수 있는 에너지 저장 시스템의 등장과 성장이 시장 성장에 긍정적인 영향을 미치고 있습니다. 기타 요인으로는 운송부문의 급속한 전기화, 광범위한 연구개발(R&D) 활동, 농촌의 전기 수요 증가 등을 들 수 있으며 시장 성장의 원동력이 될 것으로 예상됩니다.
정부의 이니셔티브와 정책 이행
정부의 이니셔티브와 정책은 시장 성장을 가속하는 데 중요합니다. 세계 정부는 기후 변화로 인한 임박한 위협과 태양광 발전과 같은 깨끗하고 재생 가능한 에너지원으로의 전환의 필요성을 인식하고 있습니다. 이 전환에 인센티브를 제공하기 위해 고정 가격 임베디드 제도, 세액 공제, 직접 보조금 등의 지원 제도를 도입하여 주택 소유자와 기업이 태양전지판을 설치할 때의 경제적 부담을 경감하고 있습니다. 이와 함께 많은 국가들이 지원법에 뒷받침된 적극적인 재생 가능 에너지 목표를 제정하고 있어 태양광 발전 인버터 수요를 더욱 밀어 올리고 있습니다. 이러한 정책은 태양광 발전설비의 초기 비용을 낮출 뿐만 아니라 장기적인 경제성도 높입니다. 정부의 이러한 단호한 행동은 신재생에너지에 대한 강한 헌신을 나타내며 소비자와 투자자에게 신뢰를 주고 시장 성장을 가속하고 있습니다.
제품 비용의 급속한 감소
태양광 발전 인버터의 비용 감소도 시장 성장의 주요 요인입니다. 기술이 발전함에 따라 제조 공정의 효율성이 향상되어 원재료 및 부품 비용 절감에 기여하고 있습니다. 또한 제조 자동화가 진행됨에 따라 인건비가 절감되고 인적 실수가 최소화되어 제품의 신뢰성이 높아졌습니다. 게다가 수요 증가로 인한 생산 규모 확대는 규모 경제를 초래하여 태양광 발전 인버터 단위당 비용을 낮추고 있습니다. 게다가 전기요금 상쇄를 원하는 주택소유자부터 지속가능성 목표 달성을 목표로 하는 기업에 이르기까지 광범위한 소비자들에게 태양광 에너지가 점점 합리적인 가격이 되고 있습니다. 비용 저하가 태양광 발전 시스템의 보급을 뒷받침하고, 나아가 태양광 발전 인버터 수요도 확대하고 있습니다.
전 세계적으로 증가하는 에너지 수요
급속한 산업화와 도시화로 전 세계적으로 에너지 수요가 급증하고 있습니다. 기존의 에너지원에는 제한이 있으며 환경에 악영향을 미치기 때문에 지속 가능한 대안을 찾는 것이 필수적입니다. 태양광 발전 인버터에 의해 촉진되는 태양광 발전은 실행 가능한 솔루션을 제공합니다. 태양에너지는 풍부하고 재생 가능한 자원인 태양의 힘을 이용하여 발전합니다. 운송, 난방, 냉방 등의 분야에서 전기로의 세계 변화로 인해 전력 수요가 비약적으로 증가하고 있습니다. PV 인버터를 이용한 태양광 발전 시스템은 지속 가능한 방식으로 이러한 수요 증가에 대응할 수 있습니다. 주택의 옥상에서 상업시설과 유틸리티 규모의 태양광 발전소에 이르기까지 태양에너지의 용도는 전반적으로 확대되고 있습니다. 이와 같이 세계 에너지 수요 증가는 태양광 발전 인버터 시장 성장을 가속하는 중요한 원동력이 되고 있습니다.
The global solar PV inverter market size reached USD 8.7 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 12.6 Billion by 2033, exhibiting a growth rate (CAGR) of 4.18% during 2025-2033. The implementation of government initiatives and policies, declining costs of solar PV inverters, increasing energy demand across the globe, and rapid technological advancements are some of the major factors propelling the market.
A solar photovoltaic (PV) inverter is a vital component of solar energy systems, transforming direct current produced by solar panels into alternating current (AC). It comprises key components, such as power transistors, transformers, and complex software controls. Solar PV inverter finds applications across diverse fields, including residential housing, commercial buildings, agricultural operations, transportation, urban planning, space technology, remote power systems, grid support, and environmental conservation initiatives. It enables the practical utilization of solar energy, promotes energy independence, provides a renewable energy source, offers potential income through feed-in tariffs, and reduces carbon footprints.
The recent technological advancements, which continuously refine efficiency and reliability, improve thermal management, and increase the capacity of solar PV inverters, are propelling the market growth. Along with this, the introduction of smart inverters, which provide grid support features and advanced monitoring capabilities, ensuring optimal system operation and maintenance, is acting as another growth-inducing factor. Furthermore, escalating environmental awareness among the masses is propelling the shift towards renewable energy sources, such as solar power, which is contributing to the market growth. Apart from this, the advent and growth of energy storage systems, which can store excess solar power for use when sunlight is not available, is positively influencing the market growth. Other factors, including rapid electrification of the transportation sector, extensive research and development (R&D) activities, and increasing demand for electrification of rural areas, are anticipated to drive the market growth.
The implementation of government initiatives and policies
Government initiatives and policies are instrumental in fostering the market growth. Governments across the globe have recognized the imminent threat owing to climate change and the need to transition towards clean, renewable energy sources, such as solar power. To incentivize this transition, they have introduced an array of support mechanisms, such as feed-in tariffs, tax credits, and direct subsidies, which reduces the financial burden on homeowners and businesses for installing solar panels. Along with this, numerous countries have also enacted aggressive renewable energy targets backed by supportive legislation, which is further driving the demand for solar PV inverters. These policies not only lower the upfront costs of solar installations but also enhance their economic viability over the long term. Such decisive actions from governments signal a robust commitment to renewable energy, thereby instilling confidence among consumers and investors and driving the market growth.
The rapid decline in product costs
The declining cost of solar PV inverters is another significant driver of market growth. As technology advances, the efficiencies of manufacturing processes improve, contributing to a reduction in the cost of raw materials and components. The rise of automation in manufacturing has also reduced labor costs and minimized human error, enhancing product reliability. Furthermore, the expanding scale of production due to increasing demand leads to economies of scale, which reduces the per-unit cost of solar PV inverters. Moreover, solar energy is now becoming increasingly affordable for a wide array of consumers, from homeowners wanting to offset their electricity bills to businesses aiming to achieve sustainability goals. Lower costs are driving the widespread adoption of solar power systems and, by extension, the demand for solar PV inverters.
The increasing energy demand across the globe
The energy demand across the globe is surging due to rapid industrialization and urbanization activities. Traditional energy sources are limited and environmentally damaging, making it essential to find sustainable alternatives. Solar power, facilitated by solar PV inverters, provides a viable solution. Solar energy harnesses the sun's power, an abundant and renewable resource, to generate electricity. With the global shift towards electrification in sectors such as transport, heating, and cooling, the demand for electricity is set to grow exponentially. Solar power systems using PV inverters can meet this increased demand in a sustainable manner. From residential rooftops to commercial installations and utility-scale solar farms, the application of solar energy is expanding across the board. Thus, rising global energy demand is a key driver propelling the growth of the solar PV inverter market.
String inverters dominate the market
String inverters are currently dominating the market as they have been the standard in the solar industry for many years, and their long-standing presence in the market has led to wide acceptance and trust in their technology. Furthermore, they offer a significant cost advantage over other types of inverters, such as microinverters and power optimizers. String inverters also have lower upfront costs, making them an attractive option for cost-conscious consumers. Apart from this, string inverters are incredibly efficient for larger, unshaded installations. They perform exceptionally well in conditions where solar panels receive uniform sunlight, making them a preferred choice for large residential, commercial, or utility-scale installations. Additionally, the recent development of multi-string inverters, which provide more flexibility and efficiency, is contributing to the market growth.
> 1500 V dominates the market
The >1500V segment is dominating the market as it allows more solar modules to be connected in series in a string, reducing the number of strings needed. This reduction leads to fewer combiner boxes, fewer cables, and fewer connections, thereby resulting in significant balance of system (BOS) cost savings. Furthermore, it results in a lower current for the same power output, which reduces resistive losses in the system, leading to an overall increase in system efficiency. Additionally, the recent technological advancements in components, such as inverters, transformers, and switchgears, have made it safer and more reliable to operate at these higher voltages, such as > 15000. Moreover, the implementation of favorable regulations and grid codes in many regions supports the adoption of higher voltage levels, further driving the trend towards >1500V systems.
Utility scale dominate the market
Utility-scale solar projects are dominating the market as they outsize residential and commercial installations in terms of power generation capacity. Given their large scale, even a single utility-scale project can require hundreds or even thousands of inverters, thereby driving up demand in the inverter market. Furthermore, many countries are aggressively expanding their renewable energy capacity to meet climate goals by establishing utility-scale solar farms, which is further boosting the market growth. Apart from this, utility-scale projects offer economies of scale, as the per-unit cost of components, including solar PV inverters, decreases significantly with the scale of the project. This cost advantage makes utility-scale projects more financially attractive, thereby driving their prevalence. Moreover, recent advancements in technology have resulted in more efficient and reliable solar PV inverters that can handle the high power output of utility-scale projects.
Asia Pacific exhibits a clear dominance in the market, accounting for the largest solar PV inverter market share
The report has also provided a comprehensive analysis of all the major regional markets, which includes Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. According to the report, Asia Pacific represented the largest market segment. According to the report, Asia Pacific represented the largest market.
The Asia Pacific region is dominating the solar PV inverter market due to the implementation of ambitious renewable energy targets and supportive government policies, driving large-scale installations of solar power systems. Furthermore, the region has a substantial and growing demand for electricity due to rapid industrialization, urbanization, and population growth. Solar power, facilitated by solar PV inverters, is viewed as a sustainable solution to meet this escalating energy demand. Additionally, the Asia Pacific region has a significant need for rural electrification. Countries with remote areas lacking grid infrastructure are turning towards solar power as a practical solution for electrification, thereby driving the demand for solar PV inverters. Moreover, the region's abundant sunshine provides excellent conditions for solar power generation, making solar energy a naturally preferred choice.
The key market players are significantly heavily in research and development (R&D) to introduce innovative products that offer higher efficiency, reliability, and better integration with energy storage systems. They are also developing smart inverters equipped with advanced features, such as predictive maintenance, remote monitoring and control, and grid support functions. Furthermore, companies are entering partnerships and collaborations with other industry players, research institutions, and technology firms to leverage shared resources and expertise. Additionally, they are pursuing mergers and acquisitions (M&A) strategies to increase their market share, expand their product portfolios, and strengthen their technological capabilities. Moreover, many leading companies are expanding their manufacturing capacities by setting up new production facilities or enhancing existing ones to meet the rising demand for solar PV inverters.