As per MRFR analysis, the APAC Solar Inverter Market Size was estimated at 5.43 (USD Billion) in 2023.The APAC Solar Inverter Market Industry is expected to grow from 5.74(USD Billion) in 2024 to 10.55 (USD Billion) by 2035. The APAC Solar Inverter Market CAGR (growth rate) is expected to be around 5.698% during the forecast period (2025 - 2035).
Driven by the rising need for clean and renewable energy sources, the APAC Solar Inverter Market is seeing notable developments. As part of their pledges to lower greenhouse gas emissions and fight climate change, several nations in the area are making major investments in solar energy. Governments in APAC, including India and China, are enacting laws to encourage solar power production by means of many incentives, hence supporting the solar inverter industry. Rising energy costs and a growing need for energy security are also driving businesses and consumers to embrace solar energy solutions, hence promoting the solar inverter industry.
The APAC market offers significant possibilities for technical developments in solar inverters. High demand exists for innovations like smart inverters, which provide improved grid control capabilities and higher efficiency. Moreover, solar inverters are being combined with energy storage systems increasingly, so enabling consumers to save surplus power for future usage. Especially in nations with fluctuating weather patterns, this practice is becoming more beneficial as it enhances dependability and customer happiness. The current trend of distributed energy systems is also shaping the dynamics of the APAC Solar Inverter Market.
More companies and homes are choosing dispersed energy resources, which makes solar inverters vital for enabling grid connection and energy control. Projects to improve rural electricity using solar technologies are also becoming more popular, hence opening fresh paths for market growth in less urbanized parts of APAC. Driven by these main trends and possibilities, the solar inverter market is projected to expand as the area keeps emphasizing sustainability and energy efficiency.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Increasing Government Initiatives for Renewable Energy
The APAC region has seen a surge in government initiatives promoting renewable energy, particularly solar energy. According to the International Energy Agency, it was reported that countries like China and India are setting ambitious targets to increase their renewable energy share, aiming for at least 30% by 2030. Such government policies and incentives significantly drive the APAC Solar Inverter Market Industry, encouraging investment in solar infrastructure and technology development. Organizations like the Asian Development Bank are actively supporting renewable energy projects through funding and resource allocation, aiming to improve solar energy access and reduce dependency on fossil fuels. These collective actions are expected to foster a robust growth environment for solar inverters across APAC.
Rapid Urbanization and Growing Energy Demand
Rapid urbanization in countries like India, Indonesia, and the Philippines is leading to increased energy demands, driving the adoption of solar energy solutions. The United Nations reported that by 2030, it is expected that approximately 60% of the world’s population will live in urban areas, with a significant portion in APAC countries. This urban shift results in higher energy consumption, which can be met efficiently through solar energy systems, including solar inverters.Major corporations, such as Tata Power and JinkoSolar, are betting on this demand surge and investing in optimized solar inverter technologies tailored for urban settings, signaling strong future growth prospects for the APAC Solar Inverter Market Industry.
Technological Advancements in Solar Inverter Efficiency
Recent technological advancements have led to higher efficiency solar inverters, which are driving growth within the APAC Solar Inverter Market Industry. For instance, the introduction of string inverters and microinverters helps to maximize energy harvest in various environments, thereby improving overall system performance. Reports from the International Renewable Energy Agency show that the efficiency of solar inverters has increased from around 90% in the early 2000s to over 98% in recent years, with companies like SMA Solar Technology and Huawei leading the way in innovation.This trend not only enhances consumer confidence but also promotes larger scale adoption and deployment of solar energy systems across the APAC region.
Decreasing Costs of Solar Technologies
The APAC Solar Inverter Market Industry is experiencing a significant transformation due to the decreasing costs associated with solar technologies. The cost of solar panels and inverters has dropped by over 80% since 2010, primarily driven by manufacturing advancements and economies of scale. According to data from the International Solar Alliance, this trend is particularly evident in countries like China, which dominates the production of solar inverters.The increasing affordability of solar systems, combined with government subsidies and incentives, presents a lucrative opportunity for market players, further promoting the deployment of solar energy solutions in the region.
Solar Inverter Market Type Insights
The APAC Solar Inverter Market displays a diverse Type segmentation, prominently featuring Central Inverters, Micro Inverters, and String Inverters, each playing a crucial role in the renewable energy landscape in the region. Central Inverters are pivotal for large-scale solar installations, facilitating high-efficiency energy conversion and significantly contributing to utility-scale solar projects across various APAC countries. Their capacity to handle substantial power loads positions them as a highly preferred option for commercial and utility sectors, being particularly beneficial in countries with expansive solar farms.
Micro Inverters, on the other hand, find their significance in residential applications, converting energy at the individual module level, which enhances energy production from each solar panel. This granularity in energy management provides a considerable advantage in performance optimization, especially in environments with shading issues. Furthermore, String Inverters serve as an economical choice for small to medium-sized installations, balancing cost-effectiveness and efficiency. They connect multiple solar panels in a series and are widely accepted due to their relative ease of installation and maintenance.The growing shift towards decentralized energy generation in the APAC region is further driving the demand for Micro Inverters, while String Inverters are favored for their versatility in various installations.
Overall, the conducive policies and increasing investments in the renewable energy sector across APAC are creating robust opportunities for each type, signaling a vibrant growth trajectory ahead. This development is reinforced by the persistent push towards sustainability and the need for cleaner energy solutions, thereby solidifying the importance of each inverter type within the broader APAC Solar Inverter Market framework.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Solar Inverter Market System Type Insights
The APAC Solar Inverter Market is increasingly influenced by its System Type segment, which includes On-Grid and Off-Grid systems. On-Grid systems, primarily utilized in urban areas, enable solar power to be fed into the national grid, significantly reducing electricity costs and promoting renewable energy integration. This aligns with government initiatives across various APAC countries aimed at enhancing energy sustainability and decreasing carbon footprints. In contrast, Off-Grid systems are essential for rural and remote locations where grid access is limited.
They provide energy independence and reliability for users without access to traditional power sources. This segment is particularly crucial as it addresses the unique energy needs of underserved regions, contributing to socio-economic development by facilitating access to electricity. The demand for both On-Grid and Off-Grid systems is on the rise due to increasing investments in renewable energy infrastructure, favorable regulatory frameworks, and growing public awareness about clean energy options. These factors collectively drive the growth of the APAC Solar Inverter Market.
Solar Inverter Market Application Insights
The Application segment of the APAC Solar Inverter Market plays a critical role in the overall solar energy landscape in the region. The residential category shows strong growth potential as homeowners increasingly seek sustainable energy solutions, driven by rising electricity costs and government incentives promoting renewable energy adoption. In the commercial sector, businesses are increasingly investing in solar technology to reduce operational costs and enhance their corporate sustainability image, often integrating energy management systems with solar inverters for efficiency.
Meanwhile, the utilities segment is witnessing significant developments as power providers explore utility-scale solar projects to meet growing energy demands and regulatory requirements. This segment is vital due to the need for reliable and efficient energy delivery on a larger scale. The government policies across various APAC countries further stimulate investments in renewable energy infrastructure, emphasizing the significance of solar inverter technology in achieving energy transition goals. Thus, the APAC Solar Inverter Market showcases a robust landscape across different applications, reflecting varying needs and driving forces tailored to each segment's unique context.
Solar Inverter Market Regional Insights
The APAC Solar Inverter Market showcases considerable growth and opportunity across various nations. Within this region, China stands out as a leader, accounting for a substantial share of the market, driven by aggressive policies promoting solar energy adoption and a thriving manufacturing base. India follows, leveraging its vast solar potential and governmental initiatives aimed at increasing renewable energy sources. Japan's market grows steadily, supported by advancements in technology and strong environmental policies. South Korea contributes to the market with innovations in smart grid technology and a focus on reducing reliance on fossil fuels.
Malaysia and Thailand are gradually establishing themselves, capitalizing on growing investments in solar infrastructure and favorable climates for solar energy generation. Indonesia, with its large population and energy needs, represents a significant opportunity for solar inverter deployment as it seeks to diversify its energy sources. The rest of the APAC region also contributes to the overall growth, reflecting varying levels of market maturity and investment potential. Together, the diverse characteristics and regulatory frameworks within these countries present both challenges and opportunities for the APAC Solar Inverter Market, indicating a dynamic landscape for both existing players and new entrants.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
APAC Solar Inverter Market Key Players and Competitive Insights:
The APAC Solar Inverter Market is experiencing significant growth, driven by increasing demand for renewable energy solutions and greater adoption of solar energy technology across the region. With governments prioritizing sustainability and various incentives for clean energy installations, numerous companies are competing to enhance their product offerings and strengthen their market positions. This market features a dynamic landscape characterized by notable advancements in inverter technology, ranging from string inverters to central inverters and microinverters.
Players in the APAC region are continuously innovating and optimizing their solutions to cater to different market segments, including residential, commercial, and utility-scale applications. Competitive strategies often focus on enhancing efficiency, reliability, and connectivity features, with an emphasis on meeting diverse customer needs, as well as navigating regional regulations and standards.ABB is a prominent player in the APAC Solar Inverter Market, known for its strong brand reputation, extensive technical expertise, and commitment to innovation. The company's market presence is underscored by a comprehensive portfolio of solar inverter solutions that cater to a wide range of applications. ABB focuses on delivering reliable and high-performance inverters that align with the evolving needs of the energy sector while ensuring compliance with regional regulations. Its strengths lie in its rich history of engineering excellence, a strong global supply chain, and a dedicated customer service framework that enhances customer satisfaction.
Moreover, ABB invests substantially in R&D to develop cutting-edge technologies, solidifying its position as a leader in the solar inverter market within the APAC region.Delta Electronics has established itself as a key player in the APAC Solar Inverter Market by offering a diverse range of innovative products tailored to meet the rising energy demands of the region. The company specializes in power and thermal management solutions, with solar inverters being a significant segment of its portfolio. Delta's strengths are rooted in its robust technological capabilities, commitment to sustainable practices, and a strong manufacturing footprint in the APAC region. The company continually invests in advanced research to enhance efficiency and reliability in its offerings.
Additionally, Delta Electronics has engaged in strategic partnerships and collaborations, effectively expanding its market reach and enhancing product offerings. Key products include string and central inverters designed for various scales of solar applications. Through its strategic initiatives and focus on technological advancement, Delta Electronics aims to maintain and grow its competitive edge in the rapidly evolving APAC solar inverter market.
Key Companies in the APAC Solar Inverter Market Include:
APAC Solar Inverter Market Industry Developments
In recent developments within the APAC Solar Inverter Market, companies such as ABB, Delta Electronics, and Huawei Technologies are increasingly focusing on innovation and expansion strategies to navigate the growing demand for renewable energy solutions. Notably, in July 2023, Canadian Solar announced an expansion of its manufacturing capabilities in Vietnam to increase production capacity in response to market growth. In another development, as of August 2023, Sungrow Power Supply secured a major project in India to provide inverters for a utility-scale solar plant, illustrating the rising significance of large-scale projects in the region.
Regarding mergers and acquisitions, Siemens announced in September 2023 its agreement to acquire NEXTracker, further strengthening its position in solar energy solutions and enhancing its technological capabilities in the inverter segment. Growth in market valuation can be observed, with several companies reporting advancements in their Research and Development efforts aimed at increasing efficiency and reducing costs, essential for supporting the rapidly evolving needs in solar energy deployments across APAC. The region's commitment to achieving net-zero emissions by 2050 is directing substantial investments into solar technologies, thereby influencing market dynamics significantly.
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2023 | 5.43 (USD Billion) |
| MARKET SIZE 2024 | 5.74 (USD Billion) |
| MARKET SIZE 2035 | 10.55 (USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 5.698% (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 | ABB, Delta Electronics, Huawei Technologies, Trimark Associates, Siemens, Canadian Solar, SMA Solar Technology, Schneider Electric, Sungrow Power Supply, NEXTracker, Longi Green Energy, Jaeger, Fronius International, Enphase Energy, TMEIC |
| SEGMENTS COVERED | Type, System Type, Application, Regional |
| KEY MARKET OPPORTUNITIES | Rising renewable energy adoption, Government incentives for solar energy, Increased residential solar installations, Technological advancements in inverter efficiency, Growth in commercial solar projects |
| KEY MARKET DYNAMICS | Increasing renewable energy adoption, Government incentives and subsidies, Technological advancements in inverters, Rising electricity prices, Growing consumer awareness of sustainability |
| COUNTRIES COVERED | China, India, Japan, South Korea, Malaysia, Thailand, Indonesia, Rest of APAC |
Frequently Asked Questions (FAQ) :
The APAC Solar Inverter Market is expected to be valued at 5.74 USD Billion in 2024.
By 2035, the APAC Solar Inverter Market is projected to reach a valuation of 10.55 USD Billion.
The APAC Solar Inverter Market is anticipated to grow at a CAGR of 5.698% from 2025 to 2035.
In 2024, China is expected to have the largest market share valued at 2.8 USD Billion.
India's market size in the APAC Solar Inverter Market is expected to be valued at 1.2 USD Billion in 2024.
Key players in the APAC Solar Inverter Market include ABB, Delta Electronics, and Huawei Technologies.
The Central Inverter segment is expected to reach a market value of 4.27 USD Billion by 2035.
By 2035, the Micro Inverter segment is projected to be valued at 2.1 USD Billion.
The market faces challenges such as regulatory uncertainties and technological advancements that can impact growth.
There are opportunities for growth in emerging technologies and expansion in renewable energy adoption across the region.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Assistant Manager - Research High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. by implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in packaging, construction, and equipment domains. she handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.
Get in Touch
© 2025 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
