APAC Inverter Market Research Report By Type (Solar inverter, Vehicle inverter, Others), By Output Power Rating (Below 10 kW, 10-50 kW, 51-100 kW, Above 100 kW), By End User (Residential, Photovoltaic (PV) Plants, Automotive, Others), By Connection Type (Standalone, Grid-tied), By Output Voltage (100-300 V, 301-500 V, Above 500 V), By Sales Channel (Direct, Indirect) and By Regional (China, India, Japan, South Korea, Malaysia, Thailand, Indonesia, Rest of APAC)- Forecast to 2035

APAC Inverter Market Overview

As per MRFR analysis, the APAC Inverter Market Size was estimated at 6.76 (USD Billion) in 2024.The APAC Inverter Market Industry is expected to grow from 7.84(USD Billion) in 2025 to 35.48 (USD Billion) by 2035. The APAC Inverter Market CAGR (growth rate) is expected to be around 14.711% during the forecast period (2025 - 2035)

Key APAC Inverter Market Trends Highlighted

The APAC Inverter Market is currently experiencing significant trends driven by the growing adoption of renewable energy sources, particularly solar and wind power. Governments across the region are implementing policies to promote cleaner energy alternatives, guided by commitments to reduce carbon emissions and increase energy efficiency. This push towards sustainable energy has resulted in a surge in demand for inverters, which are essential for converting direct current generated by renewable sources into alternating current for grid use. 

Countries like India and China are making substantial investments in solar infrastructure, which in turn fuels the growth of the inverter market.Opportunities within the APAC Inverter Market are increasingly being explored, particularly in emerging economies where rapid urbanization and industrialization are taking place. There is a notable rise in awareness and acceptance of smart and advanced inverter technologies that offer features such as grid stability, energy management, and remote monitoring capabilities. 

These aspects present a considerable opportunity for manufacturers to innovate and meet evolving consumer demands. Recent trends in the APAC region also highlight a shift towards integrating inverters with energy storage systems as consumers look for reliable backup solutions amid grid fluctuations.The growing interest in electric vehicles (EVs) is further influencing the inverter landscape, leading to the development of specialized inverter technologies to support EV charging infrastructure. 

As renewable energy continues to gain traction, supportive government initiatives and increased investment in research and development are likely to drive the APAC Inverter Market further, ultimately shaping a more sustainable energy future throughout the region.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

APAC Inverter Market Drivers

Increasing Investment in Renewable Energy Sources

The APAC Inverter Market Industry is witnessing significant growth driven by increasing investments in renewable energy sources across the region. The Asian Development Bank reported that investment in renewable energy in the APAC region has surged to approximately 1.5 trillion USD from 2010 to 2020, with forecasts suggesting a continued annual increase. This trend aligns with government initiatives aimed at reducing carbon emissions and promoting sustainable energy solutions, such as the implementation of the Paris Agreement.

Both India and China are emerging as leaders in this regard, with China claiming almost 30 percent of the world's investment in renewable energy alone. While this pursuit of detail will, for example, assist the APAC Inverter Market, which is responsible for managing and converting energy from renewables, there are far broader implications.

Rising Demand for Electric Vehicles

The demand for electric vehicles (EVs) in the APAC region is substantially driving the growth of the APAC Inverter Market Industry. According to the International Energy Agency, in 2021 alone, sales of electric cars surged by 70 percent in the APAC region, translating to over 4 million units sold. As governments enforce stricter emission regulations and provide incentives for EV purchase and charging infrastructure development, the need for efficient and reliable inverters is critical for managing power flow and conversion in EV applications.

This growing EV market will substantially increase demand for high-performance inverters, further propelling the APAC Inverter Market forward.

Technological Advancements in Inverter Technology

Continuous technological advancements in inverter technology a key driver fueling the APAC Inverter Market Industry. Recent developments in inverter efficiency, such as the introduction of multi-level inverter designs and improvements in photovoltaic inverter technologies, have resulted in higher energy conversion rates. The latest figures show that modern inverters can achieve efficiencies exceeding 98 percent, leading to reduced energy losses and improved performance.

Research institutes and companies in Japan and South Korea are at the forefront of these innovations, with organizations investing significantly in Research and Development to enhance inverter capabilities. These advancements will further support the growth of the region's inverter market as they enable smoother integration of renewable energy sources.

Government Policies and Subsidies Favoring Inverter Adoption

Proactive government policies and subsidies in the APAC region aimed at promoting the adoption of renewable energy technologies are significantly propelling the APAC Inverter Market Industry. For instance, countries like India and Australia have introduced various incentives, such as tax rebates and subsidies for solar energy installations, aimed at driving public adoption of solar inverters. In India, the Solar Rooftop Scheme has set a goal to achieve 40 gigawatts of grid-connected solar rooftop capacity by 2022, showcasing the government's active role in promoting inverter usage.

The regulatory support from governments enhances market accessibility and encourages investments in inverter technology, directly contributing to the market's expansion.

APAC Inverter Market Segment Insights

Inverter Market Type Insights

The APAC Inverter Market exhibits significant growth, particularly across various types including Solar inverter, Vehicle inverter, and Others, driven by increasing demands for renewable energy and advancements in technology. The Solar inverter segment stands out as a crucial component in the renewable energy ecosystem, with its ability to convert solar energy into usable electricity, propelling the growth of solar power installations across the region. This segment benefits from favorable government policies aimed at promoting sustainable energy initiatives and a growing awareness of environmental issues, which enhances its position in market segmentation.

In addition, the Vehicle inverter segment is gaining traction due to the rising adoption of electric vehicles and the increasing need for efficient power management systems. The growing automotive sector in APAC, combined with a push towards electrification of transportation means, solidifies the significance of vehicle inverters, making them essential for both consumer and commercial applications. Furthermore, the Others segment, which encompasses a variety of additional inverter types, caters to niche applications such as industrial power and uninterruptible power supplies, contributing to market diversification.

As the APAC region continues to invest in infrastructure and clean energy solutions, the market dynamics for these inverter types are expected to evolve, presenting numerous challenges and opportunities. While supply chain issues and fluctuating raw material prices present hurdles, the overall market is poised for growth supported by technological advancements and increased consumer demand. The APAC Inverter Market is well-positioned to leverage these trends, supported by a rapidly expanding manufacturing base and a robust innovation landscape, making it a vital segment in the global energy transition narrative.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Inverter Market Output Power Rating Insights

The Output Power Rating segment within the APAC Inverter Market plays a crucial role in meeting the diverse energy needs across the region. This market is categorized into various power output ranges, including Below 10 kW, 10-50 kW, 51-100 kW, and Above 100 kW, each catering to different applications and industries. The Below 10 kW rating often sees significant demand in residential and small commercial applications, driven by the growing adoption of solar energy and energy-efficient technologies in households across APAC countries. As businesses expand, the 10-50 kW segment becomes increasingly vital, providing solutions for various commercial units and small to medium enterprises focusing on sustainability.

Meanwhile, the 51-100 kW range is seeing robust growth, especially in industries that require more substantial power supply for processes, which contributes significantly to the APAC Inverter Market revenue. In contrast, the Above 100 kW segment dominates the market as large-scale industrial applications emerge, appealing to sectors heavily reliant on robust energy systems for operations. This dynamic segment structure reflects the evolving energy landscape in APAC, driven by increased renewable energy integration and the push toward energy independence in various countries throughout the region.

Inverter Market End User Insights

The APAC Inverter Market is characterized by a diverse range of end users, prominently featuring sectors such as Residential, Photovoltaic (PV) Plants, Automotive, and Others. The Residential segment plays a crucial role, particularly as homeowners increasingly adopt renewable energy solutions to reduce electricity costs and minimize their carbon footprint. Photovoltaic Plants are essential in harnessing solar energy, contributing significantly to the rapid growth of green energy initiatives across the region, driven by supportive government policies advocating for sustainable practices.The Automotive sector showcases a substantial trend towards electric vehicles, which require advanced inverter technology for efficiency and performance, thus shaping consumer preferences and market dynamics. 

Additionally, the Others category includes various industrial applications, indicating the versatility of inverter technologies in meeting diverse energy needs. The APAC region benefits from favorable government incentives, increasing urbanization, and greater awareness of energy efficiency, propelling market growth and innovation across these segments.This segmentation highlights the varied demands and opportunities within the APAC Inverter Market, illustrating its potential for significant advancement and transformation in the coming years.

Inverter Market Connection Type Insights

The Connection Type segment of the APAC Inverter Market plays a crucial role in determining the market dynamics and growth opportunities within the region. The primary categories include Standalone and Grid-tied systems, each fulfilling distinct energy requirements. Standalone inverters are particularly important in rural and off-grid areas of APAC, as they facilitate renewable energy generation, thereby supporting energy independence and sustainability initiatives promoted by various governments. On the other hand, Grid-tied inverters dominate due to their ability to integrate with existing utility grids, allowing for efficient energy distribution and consumption.This segment benefits greatly from the rise in urbanization and increasing energy demands in both residential and commercial sectors across APAC. 

The ongoing shift towards renewable energy sources further enhances the significance of these technologies as countries strive to meet international climate commitments. Moreover, advancements in inverter technology are driving efficiency improvements, making these systems more cost-effective and appealing to consumers. Thus, the Connection Type segment is expected to shape the future landscape of the APAC Inverter Market, highlighting the importance of innovation and adaptability in the face of evolving energy needs.

Inverter Market Output Voltage Insights

The Output Voltage segment of the APAC Inverter Market plays a crucial role in determining the efficiency and effectiveness of energy conversion systems in various applications such as renewable energy, industrial processes, and residential power systems. Within this segment, the range of 100-300 V is often preferred for residential solar applications, showcasing its ability to balance efficiency with lower installation costs, making it highly popular among homeowners. Conversely, the 301-500 V segment caters primarily to commercial and industrial sectors, where higher voltage outputs are necessary for substantial energy demands, enabling significant energy savings and efficiency gains.

Moreover, the Above 500 V segment is gaining traction in large-scale industrial systems and utility-scale solar plants, where high performance and durability are essential for optimal operation and long-term investment returns. The growing emphasis on renewable energy sources in the APAC region, alongside increasing energy consumption, is driving investments in these output voltage categories, thereby enhancing their market presence. The continuous advancements in inverter technology also serve as a potential growth driver across these voltage ranges, emphasizing the need for innovation to meet the rising energy demands and efficiency standards in the industry.

Inverter Market Sales Channel Insights

The APAC Inverter Market has shown promising developments across various Sales Channels, primarily categorized into Direct and Indirect channels. The Direct sales channel often capitalizes on direct relationships between manufacturers and end-users, ensuring a transparent communication line and often leading to higher customer satisfaction. This approach allows for tailored solutions and timely response to consumer needs, making it a preferred choice in certain applications, particularly in renewable energy initiatives. Meanwhile, the Indirect sales channel plays a significant role in expanding market reach through distributors and retailers, enabling access to a broader audience.This segment often benefits from existing market networks, allowing for increased product visibility and improved customer engagement. 

The growth of both channels is driven by the increasing demand for energy-efficient solutions and supportive government policies within the APAC region that prioritize renewable energy adoption. Collectively, these channels significantly contribute to the APAC Inverter Market revenue, fueled by rapid urbanization, infrastructure development, and the ongoing shift towards sustainable energy sources in various APAC countries.

Inverter Market Regional Insights

The APAC Inverter Market demonstrates remarkable potential, driven by rapid urbanization and increasing adoption of renewable energy sources across the region. China and India are leading players in this market, reflecting the highest demand due to their robust manufacturing capabilities and governmental initiatives promoting solar energy usage. Japan's focus on energy efficiency and the transition towards cleaner technologies further elevates its position in the inverter landscape. South Korea, with its advanced technological framework, is also becoming increasingly significant as industries move towards automation and smart grids.

Malaysia and Thailand contribute to the market through their developing renewable energy sectors, taking advantage of geographical positioning for solar and wind resources. Indonesia, while emerging, shows great opportunities for growth with increased focus on sustainable energy practices. The diverse mix of these countries within the APAC Inverter Market segmentation creates a dynamic environment where policy frameworks, technological advancements, and stakeholder investments converge, driving towards a more sustainable and technologically integrated future in power management.This growth is supported by increasing demand for power supply while addressing climate change challenges, strengthening the overall market landscape.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

APAC Inverter Market Key Players and Competitive Insights

The APAC Inverter Market has witnessed significant growth and fierce competition in recent years, driven by a surge in renewable energy investments and government initiatives promoting clean energy solutions. The rising demand for sophisticated inverter technologies that optimize solar energy generation has attracted numerous players to the region. Companies are vying for market share by innovating their product offerings, enhancing efficiencies, and achieving economies of scale. This competitive landscape is characterized by strategic collaborations, technological advancements, and an increasing focus on sustainability. With the region's varying regulatory frameworks and diverse energy needs, companies must adapt their strategies to maintain relevance and capture emerging opportunities.

SolarEdge Technologies has established a strong foothold in the APAC Inverter Market through its advanced solar inverters and optimization technologies. The company’s products are known for improving energy yield and increasing safety across residential, commercial, and utility-scale applications. SolarEdge’s strength lies in its innovative approach to solar energy management, focusing on maximizing performance while reducing operational costs for developers and installers alike. The company's robust presence in APAC is augmented by strategic partnerships and a distribution network that enhances accessibility to its cutting-edge products. Their commitment to research and development has allowed them to introduce pioneering technology tailored to the specific requirements of the APAC market, making them a key player in the region.

SMA Solar Technology has also made significant inroads into the APAC Inverter Market by offering a wide range of solar inverters, particularly known for their reliability and efficiency. The company’s portfolio includes products catering to various applications, from small residential systems to large-scale commercial installations. SMA’s strengths in the region are complemented by its longstanding reputation for quality and innovation, which has enabled them to build a loyal customer base. In addition, the company has actively pursued mergers and acquisitions to enhance its product lineup and expand its market reach, securing crucial local partnerships that reinforce their competitiveness in the dynamic APAC landscape. With a focus on developing integrated solutions for energy management, SMA positions itself as a leader who leverages technological advancement to meet the evolving needs of its customers in the region.

Key Companies in the APAC Inverter Market Include

• SolarEdge Technologies


• SMA Solar Technology


• Fronius International


• TMEIC


• Canadian Solar


• ABB


• LONGi Green Energy


• Huawei Technologies


• Trina Solar


• Sungrow Power Supply


• Delta Electronics


• Enphase Energy


• GoodWe


• JA Solar


• Chint Group

APAC Inverter Market Industry Developments

The APAC Inverter Market is experiencing notable growth and developments, particularly driven by an increasing demand for solar energy solutions. Companies such as SolarEdge Technologies, SMA Solar Technology, and Huawei Technologies are expanding their product offerings and improving technology to enhance efficiency. In September 2023, Fronius International launched new inverter models aimed at both residential and commercial markets, showcasing advancements in storage capabilities. Similarly, ABB announced a partnership with Delta Electronics to bolster their market presence in renewable energy solutions throughout the region. 

Furthermore, TMEIC and GoodWe have reported substantial increases in market valuation due to successful project acquisitions in Australia and Japan, respectively. Regarding mergers and acquisitions, in August 2023, Canadian Solar announced plans to acquire specific assets from Trina Solar to strengthen its manufacturing capabilities in Southeast Asia. Recent trends indicate a focus on sustainable energy solutions, with long-term agreements being set to enhance energy supply reliability and integration with smart technologies. Notably, the market is expected to benefit from governmental and private investments in renewable infrastructure across APAC countries in the coming years.

APAC Inverter Market Segmentation Insights

Inverter Market Type Outlook

• Solar inverter


• Vehicle inverter


• Others

Inverter Market Output Power Rating Outlook

• Below 10 kW


• 10-50 kW


• 51-100 kW


• Above 100 kW

Inverter Market End User Outlook

• Residential


• Photovoltaic (PV) Plants


• Automotive


• Others

Inverter Market Connection Type Outlook

• Standalone


• Grid-tied

Inverter Market Output Voltage Outlook

• 100-300 V


• 301-500 V


• Above 500 V

Inverter Market Sales Channel Outlook

• Direct


• Indirect

Inverter Market Regional Outlook

• China


• India


• Japan


• South Korea


• Malaysia


• Thailand


• Indonesia


• Rest of APAC

 

Report Attribute/Metric Source:	Details
MARKET SIZE 2023	6.76(USD Billion)
MARKET SIZE 2024	7.84(USD Billion)
MARKET SIZE 2035	35.48(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)	14.711% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Billion
KEY COMPANIES PROFILED	SolarEdge Technologies, SMA Solar Technology, Fronius International, TMEIC, Canadian Solar, ABB, LONGi Green Energy, Huawei Technologies, Trina Solar, Sungrow Power Supply, Delta Electronics, Enphase Energy, GoodWe, JA Solar, Chint Group
SEGMENTS COVERED	Type, Output Power Rating, End User, Connection Type, Output Voltage, Sales Channel, Regional
KEY MARKET OPPORTUNITIES	Renewable energy integration, Smart inverter technology, Energy storage solutions, Rising consumer demand, Government incentives for clean energy
KEY MARKET DYNAMICS	Growing renewable energy adoption, Increasing electricity consumption, Government incentives and regulations, Technological advancements, Rising demand for energy storage
COUNTRIES COVERED	China, India, Japan, South Korea, Malaysia, Thailand, Indonesia, Rest of APAC