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Photovoltaic (PV) Inverter Market size is set to grow by USD 3.96 billion from 2024-2028, Rising demand for renewable energy boost the market, Technavio

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NEW YORK, Aug. 7, 2024 /PRNewswire/ — The global photovoltaic (PV) inverter market size is estimated to grow by USD 3.96 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 6.78% during the forecast period. Rising demand for renewable energy is driving market growth, with a trend towards rapid growth of smart cities. However, high initial investment and maintenance costs for solar PV systems poses a challenge. Key market players include ABB Ltd., Canadian Solar Inc., Danfoss AS, DARFON ELECTRONICS CORP., Delta Electronics Inc., Eaton Corp. Plc, Enphase Energy Inc., Fronius International GmbH, General Electric Co., Huawei Technologies Co. Ltd., OMRON Corp., Powerone Micro Systems Pvt. Ltd., Schneider Electric SE, Siemens AG, Sineng Electric Co. Ltd., SMA Solar Technology AG, SolarEdge Technologies Inc., Sungrow Power Supply Co. Ltd., SunPower Corp., and Yaskawa Solectria Solar.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Photovoltaic (PV) Inverter Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 6.78%

Market growth 2024-2028

USD 3965.4 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.23

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 47%

Key countries

China, US, India, Japan, and Vietnam

Key companies profiled

ABB Ltd., Canadian Solar Inc., Danfoss AS, DARFON ELECTRONICS CORP., Delta Electronics Inc., Eaton Corp. Plc, Enphase Energy Inc., Fronius International GmbH, General Electric Co., Huawei Technologies Co. Ltd., OMRON Corp., Powerone Micro Systems Pvt. Ltd., Schneider Electric SE, Siemens AG, Sineng Electric Co. Ltd., SMA Solar Technology AG, SolarEdge Technologies Inc., Sungrow Power Supply Co. Ltd., SunPower Corp., and Yaskawa Solectria Solar

Market Driver

The global photovoltaic (PV) inverter market is experiencing significant growth due to the increasing demand for smart cities. These cities prioritize sustainability, energy efficiency, and improved quality of life, leading to the integration of renewable energy sources, particularly solar energy. Photovoltaic inverters are essential for converting DC power generated by solar panels into AC power for powering buildings and infrastructure. Advanced energy management systems in smart cities utilize data and analytics to optimize energy use and reduce costs. Photovoltaic inverters contribute to these systems by enabling solar power integration into the grid and providing real-time data on energy generation and consumption. Additionally, smart cities require dependable and resilient power supplies, making photovoltaic inverters an attractive choice due to their high efficiency and reliability. They help reduce energy costs, provide backup power during emergencies, and support the integration of other renewable energy sources like wind and battery storage systems. The market for advanced and high-capacity PV inverters, designed for utility-scale applications, is particularly thriving due to the growing number of smart cities and urban areas adopting renewable energy sources like solar power. This trend is expected to continue, positively impacting the growth of the global PV inverter market during the forecast period. 

The solar photovoltaic (PV) market, specifically the PV inverter segment, is experiencing significant growth due to increasing adoption of solar PV systems in homes and businesses. The Inflation Reduction Act in the US is boosting the solar industry, with companies like Silicon Ranch and First Solar leading the way. Central inverters from Sungrow dominate utility-scale solar power projects, while microgrids and local grids benefit from the flexibility and shading tolerance of solar inverters. Enhanced efficiency and cost-effective solutions are key trends, as the solar PV industry focuses on capturing more sunlight to produce usable electricity. Regulatory interventions and favorable customer preferences drive product adoption, with overall system performance and energy yields influencing solar PV deployments. The supply chain, including prices of components and raw materials, remains a critical factor in the industry’s healthy growth. 

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Market Challenges

The photovoltaic (PV) inverter market faces challenges due to the high initial investment and maintenance costs associated with solar PV installations. Solar panels require a large area to generate significant electricity, leading to higher upfront costs. Intermittency issues necessitate installing more panels than necessary to meet energy needs, increasing both the initial investment and ongoing maintenance costs. Solar panels are primarily used for business purposes, and the owner is responsible for maintenance. Household inspections cost around USD0.023USD0.03/Watt/year, posing a significant burden on residential users. This high cost may hinder the growth of the global PV inverter market during the forecast period.The Photovoltaic (PV) Inverter market is experiencing remarkable momentum due to the growing energy consumption and favorable solar conditions. Challenges such as energy management systems, higher power density, and improved efficiency require advanced technology solutions. Enphase Energy, a key player in the market, offers user-friendly and aesthetically pleasing Enphase IQ Microinverters with enhanced monitoring through mobile apps. Grid support features, reactive power control, and grid stabilization are essential for grid compatibility. Favorable incentive programs like net metering, FITs, and supportive governmental initiatives drive the growth of medium-scale solar installations in commercial and utility-scale sectors. Strict mandates and environmental regulations necessitate grid-supportive features, communication capabilities, and large-scale deployment. Inverter technologies like Enphase PVS-100 Inverters and Flex offer cost-efficient products and strategic local manufacturing for the microinverter industry. The clean energy transition continues with technological advancement and the integration of PV systems into smart homes.

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Segment Overview 

This photovoltaic (pv) inverter market report extensively covers market segmentation by

Product 1.1 String1.2 Central1.3 MicroType 2.1 On-grid2.2 Off-gridGeography 3.1 APAC3.2 Europe3.3 North America3.4 Middle East and Africa3.5 South America

1.1 String- The Photovoltaic (PV) Inverter market is experiencing significant growth due to the increasing adoption of solar energy solutions. These inverters convert DC power from solar panels into AC power for use in homes and businesses. Key players in this market include SMA Solar Technology, Huawei Technologies, and Fronius International. They offer various product types such as string inverters, micro inverters, and power optimizers to cater to diverse customer needs. The market’s growth is driven by government incentives, falling solar panel prices, and technological advancements.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global Solar Photovoltaic Services market is witnessing robust growth, driven by increasing demand for renewable energy solutions. With advancements in technology and favorable policies, the market is expanding rapidly. Concurrently, the Solar PV Balance Of Systems (BOS) market is also thriving, as it includes essential components like inverters, mounting systems, and wiring that are crucial for solar installations. Together, these markets reflect a significant shift towards sustainable energy, with the Solar PV BOS market playing a pivotal role in optimizing system performance and efficiency.

Research Analysis

The Photovoltaic (PV) inverter market refers to the segment of the solar industry that produces and supplies inverters for solar photovoltaic (PV) systems. These inverters convert the direct current (DC) electricity generated by solar panels into alternating current (AC) power, which is compatible with the electrical systems used in homes and businesses. The market has seen significant growth due to the increasing adoption of solar energy systems worldwide. The Inflation Reduction Act in the US, for instance, provides incentives for renewable energy projects, including solar PV installations. Central inverters, manufactured by companies like Sungrow, are commonly used in large-scale solar power plants, while solar inverters are used for residential and commercial installations. First Solar, Solar Energy, and Silicon Ranch are among the leading solar energy companies that incorporate PV inverters in their projects. The utility frequency of AC power produced by these inverters must match the grid’s frequency for seamless integration.

Market Research Overview

The Photovoltaic (PV) inverter market is experiencing healthy growth as the adoption of solar PV systems continues to gain momentum in both industrialized economies and emerging countries. Solar PV inverters convert direct current (DC) electricity generated by solar panels into usable alternate current (AC) electricity for electrical systems in homes, businesses, and industries. The Inflation Reduction Act in the US, among other government programs, is driving the product adoption, with central inverters being a popular choice for utility-scale solar installations. Sungrow, Siemens, and Huawei are some notable industry participants in the market. The solar PV industry is witnessing a shifting consumer awareness towards cost reduction and commercial viability, leading to collaborations, investments, and regulatory interventions. The market is also seeing the emergence of microgrids, off-grid applications, and grid support features, including reactive power control and grid stabilization. The overall system performance, energy yields, and favorable incentive programs, such as net metering and FITs, are contributing to the remarkable momentum in the solar PV industry. With the growing energy consumption and the need for rural electrification projects, the market for solar PV inverters is expected to continue its swift industrial development. The market is also witnessing the emergence of residential PV inverters with user-friendly designs, smart home integration, and enhanced monitoring features. The use of batteries and energy management systems is becoming increasingly common to optimize the performance of solar PV systems. The industry is also seeing higher power density, improved efficiency, and enhanced grid compatibility, making solar PV inverters a cost-effective and flexible solution for various applications, including water pumping, telecommunications, and remote cabins.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductStringCentralMicroTypeOn-gridOff-gridGeographyAPACEuropeNorth AmericaMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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ADX welcomes Morgan Stanley as the first international investment bank Remote Trading Member, expanding global access to Abu Dhabi’s capital markets

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ABU DHABI, UAE, May 5, 2026 /PRNewswire/ — The Abu Dhabi Securities Exchange (ADX) Group today announced that Morgan Stanley, a leading investment bank and financial services company, has joined the ADX as its first international investment bank Remote Trading Member — enabling Morgan Stanley’s clients to access the ADX directly.

This milestone strengthens ADX’s global connectivity and supports growing international institutional demand for exposure to UAE markets. It also reinforces its position as one of the world’s fastest-growing exchanges by market capitalization, while highlighting the market’s continued progress in depth, liquidity, and inclusion in major global indices.

Remote membership enables Morgan Stanley to provide its clients with direct market access to the ADX, with trading conducted via the firm’s global trading platform. The ADX continues to play a pivotal role in advancing Abu Dhabi’s long-term economic ambitions, as a mechanism for a diversified, innovation-led, knowledge-based economy.

Morgan Stanley’s direct trading access to ADX reflects the strength of Abu Dhabi’s investment proposition and the continued institutionalization of UAE capital markets. Morgan Stanley’s membership will enhance execution quality, optimize order routing, and provide greater control across the end-to-end trade lifecycle, delivering an advanced trading experience for global investors.

The structure follows a proven international access model used by Morgan Stanley and is designed to meet growing client demand for efficient, transparent, and seamless access to ADX-listed opportunities.

Abdulla Salem Alnuaimi, Group Chief Executive Officer of Abu Dhabi Securities Exchange (ADX) Group, said: “This marks a significant step in advancing our ambition to be a leading financial marketplace that drives opportunity and sustainable economic growth. This momentum is reflected in the strong foreign investor participation, with trading value exceeding 85 billion dirhams in the first quarter of 2026 up by 22% year on year. This performance underscores the growing depth and global relevance of our market, while reinforcing our commitment to expanding international access, strengthening cross-border connectivity, and building a world-class market infrastructure that attracts global capital, supports a diverse range of issuers and contributes to Abu Dhabi’s long-term economic prosperity.”

Patrick Delivanis, Regional Co-Head of MENA at Morgan Stanley, said: “Becoming a Remote Trading Member of ADX reflects our focus on providing clients with efficient, seamless access to Abu Dhabi’s capital markets through our market–leading trading platform. We see continued momentum in the institutionalization and international participation of UAE markets, and we’re pleased to support that evolution by enabling international investors to access opportunities in MENA with direct connectivity to local markets, alongside greater transparency and control across the trading lifecycle.”

Morgan Stanley’s participation aligns with ADX’s strategy to strengthen international connectivity, with remote memberships selectively offered to global firms to attract high-quality cross-border liquidity. The announcement builds on the ADX’s expansion momentum: in 2025, foreign investment rose by nearly 14% and institutional trading increased by 10% year on year. Subject to final operational readiness, Morgan Stanley expects to begin trading as a remote member in the coming weeks.

About Abu Dhabi Securities Exchange (ADX)

The Abu Dhabi Securities Exchange (ADX) was established on 15 November 2000 pursuant to Local Law No. (3) of 2000, which granted the exchange legal rights with independent financial and administrative status, as well as the necessary supervisory and executive powers necessary to carry out its functions. On 17 March 2020, the ADX was converted from a public entity into a Public Joint Stock Company (PJSC) in accordance with Law No. (8) of 2020.

The ADX Group, a market infrastructure group comprising the exchange (ADX) and its post-trade ecosystem, including its wholly owned subsidiaries AD Depository and AD Clear, was established. Through its integrated and globally aligned business structure, the ADX Group supports efficient, transparent, and resilient capital markets across trading, clearing, settlement, and custody.

The Group provides an efficient and regulated marketplace for the trading of securities, including equities issued by public joint-stock companies, bonds issued by governments and corporations, exchange-traded funds (ETFs), and other financial instruments approved by the UAE Capital Market Authority.

The ADX is the second-largest exchange in the Arab region by market capitalization. Its strategy of delivering stable financial performance through diversified revenue streams is aligned with the UAE’s national development agenda, “Towards the Next 50”, which aims to build a sustainable, diversified, and high-value-added economy.

For more information, please contact:
Abdulrahman Saleh ALKhateeb
Manager of Corporate Communication
Abu Dhabi Securities Exchange (ADX)
Mobile: +971 (50) 668 9733
Email: ALKhateebA@adx.ae

 

 

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SOURCE Abu Dhabi Securities Exchange (ADX)

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Geotab integrates Polestar vehicles into its OEM telematics network

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Fleet operators across North America, Europe, and APAC can now access Polestar vehicle data directly in MyGeotab — no aftermarket hardware required.

LONDON, UK, May 5, 2026 /PRNewswire/ — Geotab, a global leader in connected vehicle and asset management solutions, today announced the integration of Polestar vehicles into its OEM telematics network, giving commercial fleet operators seamless access to Polestar data within MyGeotab from day one — with no aftermarket hardware installation required. The integration is available globally across North America, Europe, and Asia Pacific, supporting all Polestar models.

Developed in collaboration with Geotab, among other telematics service providers, Polestar Fleet Telematics integrates directly into MyGeotab. The Geotab integration enables fleet managers to manage Polestar vehicles alongside all other makes and models on a single unified platform — without fitting additional devices.

Connected vehicle data where it matters most

Through Polestar Fleet Telematics, fleet operators gain near-real-time access to a comprehensive dataset — covering EV battery and charging status, location, tyre information, vehicle security, maintenance alerts, and climate data — flowing directly from Polestar’s connected vehicle architecture into MyGeotab, with no physical installation required.

This breadth of data enables fleet managers to move from reactive to proactive operations — scheduling maintenance before failures occur, optimising charge planning across depots, and maintaining duty-of-care oversight across the entire fleet.

Supporting Europe’s Mixed-Fleet Reality

OEM-embedded telematics removes the need for aftermarket device installation across mixed-manufacturer fleets, reducing logistical overhead and supporting compliance with works council and GDPR requirements — a critical consideration for European fleet operators.

“Polestar Fleet Telematics combines sustainability with intelligence, integrating seamlessly with Geotab to deliver these capabilities directly into the platforms fleet operators trust. Continuous data visibility enables more efficient and informed fleet operations, from day-to-day management to long-term planning. By leveraging Polestar vehicles’ embedded connectivity, fleet managers can make smarter, data-driven decisions — without adding hardware or complexity to their operations.” said Emma Knapp, Manager of Global Key Accounts at Polestar.

Polestar joins an OEM telematics network that already spans over 80% of leading global vehicle manufacturers by fleet market share, including BMW Group, Ford, Stellantis, Volkswagen Group, and Volvo Cars. For fleet operators already using MyGeotab, Polestar vehicles can be connected and deliver data without any additional hardware or installation.

“OEM-embedded telematics represents a change in how fleet data reaches the platform — and Polestar’s connected vehicle architecture makes this integration particularly well-suited for markets that are seriously considering transitioning to electric vehicles.” said Christoph Ludewig, Vice President OEM Global at Geotab. “Fleet operators managing mixed EV and internal combustion engine fleets no longer need separate tools or hardware for each vehicle type. Polestar data flows directly into MyGeotab alongside every other vehicle in the fleet — giving operators the consolidated visibility they need to drive efficiency, support duty of care, and manage their EV transition with confidence.”

Global Availability

The integration is available now across North America, Europe, and Asia Pacific, supporting all Polestar models. Fleet managers can activate the service via the Geotab Marketplace or by contacting their Geotab representative.

About Polestar

Polestar (Nasdaq: PSNY) is the Swedish electric performance car brand with a focus on uncompromised design and innovation, and the ambition to accelerate the change towards a sustainable future. Headquartered in Gothenburg, Sweden, its cars are available in 28 markets globally across North America, Europe and Asia Pacific.

Polestar has four models in its line-up: Polestar 2, Polestar 3, Polestar 4, and Polestar 5. Planned models include the Polestar 7 compact SUV (to be introduced in 2028) and the Polestar 6 roadster. With its vehicles currently manufactured on two continents, North America and Asia, Polestar plans to diversify its manufacturing footprint further, with production of Polestar 7 planned in Europe.

Polestar has an unwavering commitment to sustainability and has set an ambitious roadmap to reach its climate targets: halve greenhouse gas emissions by 2030 per-vehicle-sold and become climate-neutral across its value chain by 2040. Polestar’s comprehensive sustainability strategy covers the four areas of Climate, Transparency, Circularity, and Inclusion.

About Geotab

Geotab is a global leader in connected vehicle and asset management solutions, with headquarters in Oakville, Ontario and Atlanta, Georgia. Our mission is to make the world safer, more efficient, and sustainable. We leverage advanced data analytics and AI to transform fleet performance and operations, reducing cost and driving efficiency. Backed by top data scientists and engineers, we serve approximately 100,000 global customers, processing 100 billion data points daily from more than 5 million vehicle subscriptions. Geotab is trusted by Fortune 500 organisations, mid-sized fleets, and the largest public sector fleets in the world, including the US Federal government. Committed to data security and privacy, we hold FIPS 140-3 and FedRAMP authorisations. Our open platform, ecosystem of outstanding partners, and Geotab Marketplace deliver hundreds of fleet-ready third-party solutions. This year, we’re celebrating 25 years of innovation. Learn more at www.geotab.com/uk and follow us on LinkedIn or visit our blog.

GEOTAB and GEOTAB MARKETPLACE are registered trademarks of Geotab Inc. in Canada, the United States and/or other countries.

Media Contact: Geotab Contact, Romina Dashghachian, Strategic Communications Lead, EMEA, pr@geotab.com

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IDX Opens Geneva Office and Strengthens Global Data & Insights Capability

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New Swiss presence and specialist team integration support growing global demand for evidence-based, defensible communications strategies

LONDON, May 5, 2026 /PRNewswire/ — IDX today announced the opening of its new Geneva office and the integration of a specialist Data & Insights team, strengthening the company’s international footprint and expanding its ability to help clients worldwide build communications strategies grounded in evidence, market intelligence and audience insight.

The expansion gives IDX an on-the-ground presence in Switzerland while adding further depth to its Data & Insights capability. The Geneva-based team will work closely with IDX specialists across performance marketing and corporate communications, helping clients develop a clearer view of the markets they operate in and the forces shaping their growth.

The move aligns with Destination 250 – Customers First, IDX’s global strategy to grow its team by 250, focused on deepening client value, strengthening delivery and investing in the capabilities that matter most to clients.

The investment strengthens the Data pillar of IDX’s Connected Content™ model, which combines Creative, Data, Technology and Media to create what IDX calls The Multiplier Effect, helping clients multiply what matters through more connected, measurable and effective work.

“IDX is experiencing phenomenal growth, and our new Geneva office gives us boots on the ground to better serve clients across Europe and globally across performance marketing, investor relations and corporate communications,” said Crispin Beale, Worldwide CEO, IDX. “Data has been at the heart of this business for decades, and this centre of excellence reflects our continued investment in that capability. It’s an incredibly exciting time for IDX, and I look forward to the next phase of our growth as we continue to expand globally.”

“This is an exciting step in IDX’s growth story and a clear response to what clients are asking for: more evidence-based thinking, stronger market context and clearer rationale behind their communications strategies,” said Chris Corrigan, Chief Customer Growth Officer, IDX. “Our new presence in Geneva, combined with deeper Data & Insights expertise, strengthens the way we support clients globally, giving them earlier access to the insight and market context they need to make better-informed decisions and turn evidence into action.”

The Geneva office will strengthen relationships with existing clients in the region, support re-engagement with former partners and create new opportunities for IDX with organisations operating across European and global markets. It reflects IDX’s continued investment in the capabilities that matter most to clients as communications, marketing and corporate reputation work become increasingly data-led and commercially accountable.

“IDX’s integrated offer across insights, performance marketing and corporate communications, powered by the combination of human intelligence, advanced technology and AI, represents exactly where the industry is heading,” said Lonneke de Roo, Head of Data & Insights, IDX. “I am delighted to join the business and help clients navigate increasingly complex markets with clearer evidence, sharper insight and more connected strategies.”

ABOUT IDX  

IDX is a global strategic communications and marketing agency, headquartered in London with offices around the world, including New York, London, Phoenix, Helsinki, Gothenburg, Geneva, and Vadodara. Working with more than 1,600 clients across sectors, IDX combines deep industry knowledge with a data-first mindset to help ambitious brands thrive in complex, fast-moving markets. The firm specialises in performance marketing, investor relations, and stakeholder engagement, delivering integrated campaigns that drive meaningful business outcomes. Visit www.idx.inc to learn more.

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