Renewable Energy Inverters Market Research Report - Global Forecast till 2028

Renewable Energy Inverters Market Research Report: Information by Product Type (Central Inverter, Micro-Inverter, Off-Grid Inverter, Grid-Tied Inverter and Battery-Based Inverter), Application (Residential and Non-Residential) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2028

ID: MRFR/E&P/8545-HCR | February, 2021 | Region : Global

Renewable Energy Inverters Market Scenario


Renewable Energy Inverter Market size is projected to reach USD 62 Billion by 2028, with a 14% CAGR between 2021 and 2028


The major factors driving the growth of the global renewable energy inverters market is the growing demand for electricity generation from renewable energy sources and increasing government initiatives for the adoption of renewable energy sources for electricity generation. Furthermore, the increasing demand for sustainable electricity generation to reduce the emission of harmful gases is also expected to have a substantial impact on the growth of the global renewable energy inverters market during the forecast period.


The electrification of remote areas and regions in developing countries is expected to further increase the demand for renewable energy inverters during the forecast period. This is primarily due to the numerous initiatives being undertaken by government bodies to increase access to electricity.


Many major players such as SMA Solar Technology, general Electric, and Eaton are focusing on signing contracts and agreements with utilities and industries to provide inverters for renewable energy sources. For instance, in June 2020, Sungrow Power Supply Co signed a contract with DAT Technology Co to supply PV inverters for industrial & commercial installations in Vietnam.     


The global renewable energy inverters market has been segmented based on product type and application. Based on product type, the global market is divided into central inverters, micro-inverters, off-grid inverters, grid-tied inverters, and battery-based inverters. The grid-tied inverters segment is expected to hold the largest share of the market during the forecast period, owing to the increasing installations of large-scale renewable electricity projects.


However, the central inverter segment is expected to grow at the fastest rate during the forecast period due to the increasing installation of solar energy generation equipment. Based on the application, the global market is segmented into residential and non-residential. The non-residential segment held the largest market share in 2019 and is expected to exhibit the highest CAGR during the forecast period due to the increasing installations of renewable energy sources, such as offshore wind and solar power plants, to support power grids.


Global Renewable Energy Inverters Market is expected to register 17.5% CAGR during the forecast period.


Key Players


The key players operating in the global renewable energy inverters market are KACO Group, Ingeteam Power Technology S.A., General Electric, TMEIC, Schneider Electric, SMA Solar Technology AG, Bonfiglioli Transmissions Private Limited, Danfoss, Eaton, Emerson Electric, Enphase Energy, Fronius International GmbH, Mitsubishi Electric Corporation, REFU, and Riello Elettronica Group.


Market Segmentation


Renewable Energy Inverters Market


The global renewable energy inverters market is expected to witness high growth during the forecast period owing to the increasing demand for electricity generation using renewable energy sources.  This is expected to drive the growth of the renewable energy inverters market during the forecast period.


Based on region, the global renewable energy inverters market is segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. Asia-Pacific holds the largest market share of the renewable energy inverters market due to the increasing adoption of renewable energy resources in the region. Additionally, the renewable energy inverters market in Asia-Pacific is expected to grow at the fastest rate during the forecast period, primarily due to the numerous government initiatives introduced in the region to increase the adoption of renewable energy sources.


Renewable energy inverters are used to convert DC to AC. The inverters are used both in residential and non-residential applications. For instance, residential inverters are used to convert DC generated from solar panels to AC. Non-residential renewable energy inverters are used to convert DC into AC before transmitting them to end-users.


Global Renewable Energy Inverter Market size is projected to reach USD 62 Billion by 2028, with a 14% CAGR between 2021 and 2028.


Intended Audience



  • Government and research organization

  • Consulting companies in the renewable energy inverters -market

  • Raw material suppliers

  • Research consultants

  • Investors and shareholders

Table of Contents

1 Executive Summary

2 Market Introduction

2.1 Market Definition

2.2 Scope of the Study

2.3 Market Structure

3 Research Methodology

3.1 Primary Research

3.2 Secondary Research

3.3 Market Capacity Estimation

3.4 Forecast Model

3.5 List of Assumptions

3.6 Limitations of the Study

4 Market Insights

5 Market Dynamics

5.1 Introduction

5.2 Market Drivers

5.3 Market Restraints

5.4 Market Opportunities

5.5 Porter’s Five Forces Analysis

5.5.1 Threat of New Entrants

5.5.2 Bargaining Power of Buyers

5.5.3 Bargaining Power of Suppliers

5.5.4 Threat of Substitutes

5.5.5 Rivalry

5.6 Value Chain/Supply Chain Analysis

6 Global Renewable Energy Inverters Market, by Product Type

6.1 Introduction

6.2 Central Inverters

6.2.1 Market Estimates & Forecast, 2020–2027

6.2.2 Market Estimates & Forecast, by Region, 2020–2027

6.3 Micro-Inverters

6.3.1 Market Estimates & Forecast, 2020–2027

6.3.2 Market Estimates & Forecast, by Region, 2020–2027

6.4 Off-Grid Inverters

6.4.1 Market Estimates & Forecast, 2020–2027

6.4.2 Market Estimates & Forecast, by Region, 2020–2027

6.5 Grid-Tied Inverters

6.5.1 Market Estimates & Forecast, 2020–2027

6.5.2 Market Estimates & Forecast, by Region, 2020–2027

6.6 Battery-Based Inverters

6.6.1 Market Estimates & Forecast, 2020–2027

6.6.2 Market Estimates & Forecast, by Region, 2020–2027

7 Global Renewable Energy Inverters Market, by Application

7.1 Introduction

7.2 Residential

7.2.1 Market Estimates & Forecast, 2020–2027

7.2.2 Market Estimates & Forecast, by Region, 2020–2027

7.3 Non-Residential

7.3.1 Market Estimates & Forecast, 2020–2027

7.3.2 Market Estimates & Forecast, by Region, 2020–2027

7.3.3 Market Estimates & Forecast, by Region, 2020–2027

8 Global Renewable Energy Inverters Market, by Region

8.1 Introduction

8.2 North America

8.2.1 Market Estimates & Forecast, by Country, 2020–2027

8.2.2 Market Estimates & Forecast, by Product Type, 2020–2027

8.2.3 Market Estimates & Forecast, by Application, 2020–2027

8.2.4 US

8.2.4.1 Market Estimates & Forecast, by Product Type, 2020–2027

8.2.4.2 Market Estimates & Forecast, by Application, 2020–2027

8.2.5 Canada

8.2.5.1 Market Estimates & Forecast, by Product Type, 2020–2027

8.2.5.2 Market Estimates & Forecast, by Application, 2020–2027

8.2.6 Mexico

8.2.6.1 Market Estimates & Forecast, by Product Type, 2020–2027

8.2.6.2 Market Estimates & Forecast, by Application, 2020–2027

8.3 Europe

8.3.1 Market Estimates & Forecast, by Country, 2020–2027

8.3.2 Market Estimates & Forecast, by Product Type, 2020–2027

8.3.3 Market Estimates & Forecast, by Application, 2020–2027

8.3.4 Norway

8.3.4.1 Market Estimates & Forecast, by Product Type, 2020–2027

8.3.4.2 Market Estimates & Forecast, by Application, 2020–2027

8.3.5 Iceland

8.3.5.1 Market Estimates & Forecast, by Product Type, 2020–2027

8.3.5.2 Market Estimates & Forecast, by Application, 2020–2027

8.3.6 Russia

8.3.6.1 Market Estimates & Forecast, by Product Type, 2020–2027

8.3.6.2 Market Estimates & Forecast, by Application, 2020–2027

8.3.7 Rest of Europe

8.3.7.1 Market Estimates & Forecast, by Product Type, 2020–2027

8.3.7.2 Market Estimates & Forecast, by Application, 2020–2027

8.3.7.3 Market Estimates & Forecast, by End-Use, 2020–2027

8.4 Asia-Pacific

8.4.1 Market Estimates & Forecast, by Country, 2020–2027

8.4.2 Market Estimates & Forecast, by Product Type, 2020–2027

8.4.3 Market Estimates & Forecast, by Application, 2020–2027

8.4.4 China

8.4.4.1 Market Estimates & Forecast, by Product Type, 2020–2027

8.4.4.2 Market Estimates & Forecast, by Application, 2020–2027

8.4.5 India

8.4.5.1 Market Estimates & Forecast, by Product Type, 2020–2027

8.4.5.2 Market Estimates & Forecast, by Application, 2020–2027

8.4.6 Japan

8.4.6.1 Market Estimates & Forecast, by Product Type, 2020–2027

8.4.6.2 Market Estimates & Forecast, by Application, 2020–2027

8.4.7 New Zealand

8.4.7.1 Market Estimates & Forecast, by Product Type, 2020–2027

8.4.7.2 Market Estimates & Forecast, by Application, 2020–2027

8.4.8 Rest of Asia-Pacific

8.4.8.1 Market Estimates & Forecast, by Product Type, 2020–2027

8.4.8.2 Market Estimates & Forecast, by Application, 2020–2027

8.5 Middle East & Africa

8.5.1 Market Estimates & Forecast, by Country, 2020–2027

8.5.2 Market Estimates & Forecast, by Product Type, 2020–2027

8.5.3 Market Estimates & Forecast, by Application, 2020–2027

8.5.4 Saudi Arabia

8.5.4.1 Market Estimates & Forecast, by Product Type, 2020–2027

8.5.4.2 Market Estimates & Forecast, by Application, 2020–2027

8.5.5 UAE

8.5.5.1 Market Estimates & Forecast, by Product Type, 2020–2027

8.5.5.2 Market Estimates & Forecast, by Application, 2020–2027

8.5.6 Kenya

8.5.6.1 Market Estimates & Forecast, by Product Type, 2020–2027

8.5.6.2 Market Estimates & Forecast, by Application, 2020–2027

8.5.7 Rest of Middle East & Africa

8.5.7.1 Market Estimates & Forecast, by Product Type, 2020–2027

8.5.7.2 Market Estimates & Forecast, by Application, 2020–2027

8.6 South America

8.6.1 Market Estimates & Forecast, by Country, 2020–2027

8.6.2 Market Estimates & Forecast, by Product Type, 2020–2027

8.6.3 Market Estimates & Forecast, by Application, 2020–2027

8.6.4 Chile

8.6.4.1 Market Estimates & Forecast, by Product Type, 2020–2027

8.6.4.2 Market Estimates & Forecast, by Application, 2020–2027

8.6.5 Brazil

8.6.5.1 Market Estimates & Forecast, by Product Type, 2020–2027

8.6.5.2 Market Estimates & Forecast, by Application, 2020–2027

8.6.6 Rest of South America

8.6.6.1 Market Estimates & Forecast, by Product Type, 2020–2027

8.6.6.2 Market Estimates & Forecast, by Application, 2020–2027

9 Competitive Landscape

9.1 Competitive Scenario

9.2 Competitive Benchmarking of the Global Renewable Energy Inverters Market

9.3 Major Growth Key Strategies in the Global Renewable Energy Inverters Market

9.4 Market Share Analysis: Global Renewable Energy Inverters Market

9.5 Enel Spa: The Leading Player in Terms of Number of Developments in the Global Renewable Energy Inverters Market

9.6 Product Development in Global Renewable Energy Inverters Market

9.7 Mergers and Acquisitions in Global Renewable Energy Inverters Market

9.8 Contracts and Agreements in Global Renewable Energy Inverters Market

9.9 Expansions and Investments in Global Renewable Energy Inverters Market

10 Company Profile

10.1 KACO Group

10.1.1 Company Overview

10.1.2 Products/Services Offered

10.1.3 Financial Overview

10.1.4 Key Developments

10.1.5 Key Strategies

10.1.6 SWOT Analysis

10.2 Ingeteam Power Technology S.A.

10.2.1 Company Overview

10.2.2 Products/Services Offered

10.2.3 Financial Overview

10.2.4 Key Developments

10.2.5 Key Strategies

10.2.6 SWOT Analysis

10.3 General Electric

10.3.1 Company Overview

10.3.2 Products/Services Offered

10.3.3 Financial Overview

10.3.4 Key Developments

10.3.5 Key Strategies

10.3.6 SWOT Analysis

10.4 TMEIC

10.4.1 Company Overview

10.4.2 Products/Services Offered

10.4.3 Financial Overview

10.4.4 Key Developments

10.4.5 Key Strategies

10.4.6 SWOT Analysis

10.5 Schneider Electric

10.5.1 Company Overview

10.5.2 Products/Services Offered

10.5.3 Financial Overview

10.5.4 Key Developments

10.5.5 Key Strategies

10.5.6 SWOT Analysis

10.6 SMA Solar Technology AG

10.6.1 Company Overview

10.6.2 Products/Services Offered

10.6.3 Financial Overview

10.6.4 Key Developments

10.6.5 Key Strategies

10.6.6 SWOT Analysis

10.7 Bonfiglioli Transmissions Private Limited

10.7.1 Company Overview

10.7.2 Products/Services Offered

10.7.3 Financial Overview

10.7.4 Key Developments

10.7.5 Key Strategies

10.7.6 SWOT Analysis

10.8 Danfoss

10.8.1 Company Overview

10.8.2 Products/Services Offered

10.8.3 Financial Overview

10.8.4 Key Developments

10.8.5 Key Strategies

10.8.6 SWOT Analysis

10.9 Eaton

10.9.1 Company Overview

10.9.2 Products/Services Offered

10.9.3 Financial Overview

10.9.4 Key Developments

10.9.5 Key Strategies

10.9.6 SWOT Analysis

10.10 Emerson Electric

10.10.1 Company Overview

10.10.2 Products/Services Offered

10.10.3 Financial Overview

10.10.4 Key Developments

10.10.5 Key Strategies

10.10.6 SWOT Analysis

10.11 Enphase Energy, Inc

10.11.1 Company Overview

10.11.2 Products/Services Offered

10.11.3 Financial Overview

10.11.4 Key Developments

10.11.5 Key Strategies

10.11.6 SWOT Analysis

10.12 Fronius International GmbH

10.12.1 Company Overview

10.12.2 Products/Services Offered

10.12.3 Financial Overview

10.12.4 Key Developments

10.12.5 Key Strategies

10.12.6 SWOT Analysis

10.13 Mitsubishi Electric Corporation

10.13.1 Company Overview

10.13.2 Products/Services Offered

10.13.3 Financial Overview

10.13.4 Key Developments

10.13.5 Key Strategies

10.13.6 SWOT Analysis

10.14 REFU

10.14.1 Company Overview

10.14.2 Products/Services Offered

10.14.3 Financial Overview

10.14.4 Key Developments

10.14.5 Key Strategies

10.14.6 SWOT Analysis

10.15 Riello Elettronica

10.15.1 Company Overview

10.15.2 Products/Services Offered

10.15.3 Financial Overview

10.15.4 Key Developments

10.15.5 Key Strategies

10.15.6 SWOT Analysis


List of Tables

Table 1 Global Renewable Energy Inverters Market, by Region, 2020–2027 (USD Million)

Table 2 North America Renewable Energy Inverters Market, by Country, 2020–2027 (USD Million)

Table 3 Europe Renewable Energy Inverters Market, by Country, 2020–2027 (USD Million)

Table 4 Asia-Pacific Renewable Energy Inverters Market, by Country, 2020–2027 (USD Million)

Table 5 Middle East & Africa Renewable Energy Inverters Market, by Country, 2020–2027 (USD Million)

Table 6 South America Renewable Energy Inverters Market, by Country, 2020–2027 (USD Million)

Table 7 Global Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 8 North America Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 9 Europe Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 10 Asia-Pacific Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 11 Middle East & Africa Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 12 South America Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 13 Global Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 14 North America Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 15 Europe Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 16 Asia-Pacific Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 17 Middle East & Africa Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 18 South America Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 19 Global Renewable Energy Inverters Market: by Region, 2020–2027 (USD Million)

Table 20 North America Renewable Energy Inverters Market, by Country, 2020–2027 (USD Million)

Table 21 North America Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 22 North America Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 23 US Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 24 US Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 25 Canada Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 26 Canada Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 27 Mexico Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 28 Mexico Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 29 Europe Renewable Energy Inverters Market, by Country, 2020–2027 (USD Million)

Table 30 Europe Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 31 Europe Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 32 Norway Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 33 Norway Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 34 Iceland Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 35 Iceland Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 36 Russia Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 37 Russia Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 38 Rest of Europe Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 39 Rest of Europe Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 40 Asia-Pacific Renewable Energy Inverters Market, by Country, 2020–2027 (USD Million)

Table 41 Asia-Pacific Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 42 Asia-Pacific Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 43 China Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 44 China Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 45 India Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 46 India Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 47 New Zealand Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 48 New Zealand Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 49 Japan Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 50 Japan Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 51 Rest of Asia-Pacific Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 52 Rest of Asia-Pacific Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 53 Middle East Renewable Energy Inverters Market, by Country, 2020–2027 (USD Million)

Table 54 Middle East Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 55 Middle East Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 56 Saudi Arabia Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 57 Saudi Arabia Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 58 UAE Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 59 UAE Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 60 Kenya Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 61 Kenya Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 62 Rest of the Middle East & Africa Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 63 Rest of the Middle East & Africa Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 64 South America Renewable Energy Inverters Market, by Country, 2020–2027 (USD Million)

Table 65 South America Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 66 South America Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 67 Brazil Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 68 Brazil Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 69 Chile Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 70 Chile Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Table 71 Rest of South America Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Table 72 Rest of South America Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

List of Figures

Figure 1 Research Process of MRFR

Figure 2 Top-Down and Bottom-Up Approach

Figure 3 Market Dynamics

Figure 4 Impact Analysis: Market Drivers

Figure 5 Impact Analysis: Market Restraints

Figure 6 Porter’s Five Forces Analysis

Figure 7 Value Chain Analysis

Figure 8 Global Renewable Energy Inverters Market Share, by Product Type, 2020 (%)

Figure 9 Global Renewable Energy Inverters Market, by Product Type, 2020–2027 (USD Million)

Figure 10 Global Renewable Energy Inverters Market Share, by Application, 2020 (%)

Figure 11 Global Renewable Energy Inverters Market, by Application, 2020–2027 (USD Million)

Figure 13 North America Renewable Energy Inverters Market Share (%), 2020

Figure 14 North America Renewable Energy Inverters Market, by Country, 2020–2027 (USD Million)

Figure 15 Europe Renewable Energy Inverters Market Share (%), 2020

Figure 16 Europe Renewable Energy Inverters Market, by Country, 2020–2027 (USD Million)

Figure 17 Asia-Pacific Renewable Energy Inverters Market Share (%), 2020

Figure 18 Asia-Pacific Renewable Energy Inverters Market, by Country, 2020–2027 (USD Million)

Figure 19 Middle East & Africa Renewable Energy Inverters Market Share (%), 2020

Figure 20 Middle East & Africa Renewable Energy Inverters Market, by Country, 2020–2027 (USD Million)

Figure 21 South America Renewable Energy Inverters Market Share (%), 2020

Figure 22 South America Renewable Energy Inverters Market, by Country, 2020–2027 (USD Million)

Renewable Energy Inverters Market