Solar Hybrid Inverter Market Research Report - Global Forecast till 2032

Solar Hybrid Inverter Market Research Report Information by Product (Single-Phase Hybrid, Three-Phase Hybrid), End-User (Commercial, Residential and Others) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2032

ID: MRFR/E&P/6980-HCR | 111 Pages | Author: Priya Nagrale | February 2024         

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Global Solar Hybrid Inverter Market Overview:


Solar Hybrid Inverter Market Size was valued at USD 7.5 Billion in 2022. The Solar Hybrid Inverter market industry is projected to grow from USD 8.16 Billion in 2023 to USD 16.15 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.90% during the forecast period (2023–2032). Growing demands for energy efficiency and cost savings, grid resilience and energy independence, technological advancements and product innovations, are the key market drivers enhancing the market growth.


Global Solar Hybrid Inverter Market Overview


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


Grid resilience & energy independence and growing demands for energy efficiency & cost savings are considered vital parameters enhancing the performance of the global market. Furthermore, technological advancements and product innovations are also likely to have a positive impact.



  • July 2023- GoodWe has lately disclosed the expansion of its commercial and industrial (C&I) solution portfolio with the launch of the ETC 100 kW hybrid inverter. The addition follows the success of its predecessor, the ETC 50 kW, which has been awarded the All-Quality Matters (AQM) Award from TÜV Rheinland. The ETC 100 kW incorporates the key features of the 50-kW inverter and provides a wider power rating, more effectively meeting the diverse energy needs of business owners.


Solar Hybrid Inverter Market Trends




  • Growing demands for energy efficiency and cost savings is driving the market growth




The market for solar hybrid inverters is expanding significantly as a result of increasing consumer demand for clean, renewable energy sources. There is an increasing focus on moving away from fossil fuels and towards sustainable alternatives as the globe works to cut carbon emissions and prevent climate change. In this shift, solar hybrid inverters are essential because they make it possible to combine solar energy with conventional electrical grids. Growing awareness of the negative environmental effects of conventional energy sources is one of the main factors influencing the demand for solar hybrid inverters. Fossil fuels, such as natural gas and coal, are a significant source of air pollution, greenhouse gas emissions, and warming. Governments, companies, and consumers are consequently actively looking for cleaner and more sustainable energy options. By converting solar energy into electricity that can be utilized to power homes, buildings, and industries, solar hybrid inverters enable users to take use of the sun's power. These inverters offer cost savings and energy efficiency in addition to reducing dependency on electricity produced from fossil fuels. Users can cut their energy costs and carbon footprint by producing their own electricity.


Solar hybrid inverters also offer grid resiliency and energy independence. These inverters can store extra solar energy for use during times of low sunlight or power disruptions by integrating battery storage devices. This characteristic guarantees a consistent and dependable energy supply, especially in areas with a faulty grid infrastructure or prone to frequent power outages. The demand for solar hybrid inverters has also been significantly fueled by government incentives and support. To promote solar energy adoption and the usage of solar hybrid inverters, many nations have put in place beneficial policies including subsidies, tax credits, and feed-in tariffs. These measures have improved the financial viability and appeal of solar power for both individuals and companies. The market for solar hybrid inverters is expanding as a result of technological developments and product innovations. Solar hybrid inverters are now more dependable, approachable, and adaptable with a variety of solar panel systems thanks to increased efficiency, improved power conversion capabilities, and intelligent monitoring and control features. They now appeal to a wider range of consumers, and this has made it easier for them to be integrated into different applications. Thus, driving the Solar Hybrid Inverter market revenue.


Solar Hybrid Inverter Market Segment Insights:



Among all the products, the three-phase hybrid segment secured the leading position across the global market for Solar Hybrid Inverters in 2021 with a maximum contribution of nearly 57%. They are compatible with three-phase electrical systems usually found in bigger buildings, grid-connected solar arrays, and factories and are made to manage higher power capabilities.



  • June 2023- NingBo Deye Inverter Technology (Deye) has built new three-phase hybrid inverters for commercial and industrial (C&I) rooftop PV projects. The China-based inverter producer demonstrated the latest line at the SNEC trade show in Shanghai, China, in the last week of July.


Among all the end-users, the commercial segment secured the leading position across the global market for Solar Hybrid Inverters in 2021 with a maximum contribution of nearly 53%.


Dominated the market, accounting for market share. Enterprises can meet their energy needs with the help of commercial solar hybrid inverters, which are made to handle larger power capacities. By combining solar energy and battery storage, businesses can reduce costs and increase power reliability.



Solar Hybrid Inverter Product Insights


The Solar Hybrid Inverter market segmentation, based on Product, includes Single-Phase Hybrid, Three-Phase Hybrid. The three-phase hybrid segment dominated the market, accounting for 57% of market share. They are compatible with three-phase electrical systems typically found in bigger buildings, factories, and grid-connected solar arrays and are made to manage higher power capabilities.


Figure 1: Solar Hybrid Inverter Market, by Product, 2022 & 2032 (USD Billion)


Solar Hybrid Inverter Market, by Product, 2022 & 2032 (USD Billion)


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


Solar Hybrid Inverter End-User Insights


The Solar Hybrid Inverter market segmentation, based on End-User, includes Commercial, Residential and others. The commercial segment dominated the market, accounting for 53% of market share. Enterprises are able to meet their energy needs with the help of commercial solar hybrid inverters, which are made to handle larger power capacities. By combining solar energy and battery storage, businesses can reduce costs and increase power reliability.


Solar Hybrid Inverter Regional Insights


By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia-Pacific Solar Hybrid Inverter Market dominated this market in 2022 (45.80%). Renewable energy solutions are required due to increasing populations, rapid urbanisation, and rising energy demand will boost market growth in this region. Further, China’s Solar Hybrid Inverter market held the largest market share, and the Indian Solar Hybrid Inverter market was the fastest growing market in the Asia-Pacific region.


Figure 2: Solar Hybrid Inverter Market Share By Region 2022 (USD Billion)


Solar Hybrid Inverter Market Share By Region 2022 (USD Billion)


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


Europe Solar Hybrid Inverter market accounts for the second-largest market share. The region's market for solar hybrid inverters has expanded as a result of Europe's strong commitment to cutting carbon emissions and reaching renewable energy goals. Further, the German Solar Hybrid Inverter market held the largest market share, and the UK Solar Hybrid Inverter market was the fastest growing market in the European region


The North America Solar Hybrid Inverter Market is expected to grow at the fastest CAGR from 2023 to 2032. The growth of the market in the area is also being driven by rising electricity prices, increased consumer knowledge, and a focus on energy independence. Moreover, the U.S. Solar Hybrid Inverter market held the largest market share, and the Canada Armor Materials market was the fastest growing market in the North America region.


Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Solar Hybrid Inverter Key Market Players & Competitive Insights


Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Solar Hybrid Inverter market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Solar Hybrid Inverter industry must offer cost-effective items.


Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Solar Hybrid Inverter industry to benefit clients and increase the market sector. In recent years, the Solar Hybrid Inverter industry has offered some of the most significant advantages to medicine. Major players in the Solar Hybrid Inverter market, including Flin Energy (India), Havells (India), Schneider Electric (France), Microtek Inverters (India), Delta Energy Systems (Germany), Pure Volt (India), Su-Kam power systems (India), Redback Technologies (Australia), Luminous (India), EAST Group (China), KACO new energy (Germany), Tabuchi Electric (US), SolarEdge Technologies (Israel), Voltronic Power Technology (Taiwan), and SolaX Power (China) and others, are attempting to increase market demand by investing in research and development operations.


Flin Energy company specializes in the development, manufacturing, and distribution of solar hybrid inverters, which are essential components in solar power systems. Solar hybrid inverters by Flin Energy are made to effectively transform solar power from photovoltaic (PV) panels into electrical energy used for buildings, companies, and other purposes. These inverters effortlessly combine solar power with the grid infrastructure already in place, allowing consumers to optimise energy use, lower electricity costs, and help the environment. The solar hybrid inverters from Flin Energy are renowned for their top-notch design, cutting-edge features, and dependable performance. Utilising cutting-edge technology and stringent testing procedures, the company makes sure that its products adhere to international standards and deliver enduring performance across a variety of operating circumstances. Flin Energy also places an emphasis on user-friendly designs and provides simple monitoring systems so that users can monitor and control their energy production and usage. Sustainability and the shift to renewable energy sources are important to Flin Energy. Its solar hybrid inverters are made with the goal of promoting energy independence while also maximising energy efficiency and minimising environmental effect. The inverters from Flin Energy have energy storage features that enable users to store extra solar energy and use it during times of low sunshine or power outages, improving grid resilience and supplying a steady source of power. The company's commitment to providing great customer service and client-centric business practises has enhanced its standing in the marketplace. To ensure client satisfaction and the seamless integration of their solar hybrid inverters, Flin Energy offers thorough pre-sales support, technical help, and after-sales services.


Schneider Electric is a multinational company that operates in various sectors, including the solar hybrid inverter market. Schneider Electric is a prominent participant in the energy management and automation sector with a long history and a presence. Solar hybrid inverters are among the several solar power system solutions that Schneider Electric provides. Their solar hybrid inverters are made to efficiently convert solar energy into electrical power used for domestic, commercial, and industrial uses. Advanced power electronics and control technologies are incorporated into these inverters to maximise energy production, enhance efficiency, and guarantee grid compatibility. The solar hybrid inverters produced by the company are renowned for their dependability, toughness, and high conversion efficiency. Schneider Electric uses its knowledge of energy management to deliver smart, scalable solutions that adapt to changing customer needs. Their inverters have cutting-edge monitoring and communication features that let consumers manage their solar power systems in real-time.


Key Companies in the Solar Hybrid Inverter market include



  • Flin Energy (India)

  • Havells (India)

  • Schneider Electric (France)

  • Microtek Inverters (India)

  • Delta Energy Systems (Germany)

  • Pure Volt (India)

  • Su-Kam power systems (India)

  • Redback Technologies (Australia)

  • Luminous (India)

  • EAST Group (China)

  • KACO new energy (Germany)

  • Tabuchi Electric (US)

  • SolarEdge Technologies (Israel)

  • Voltronic Power Technology (Taiwan)

  • SolaX Power (China)


Solar Hybrid Inverter Industry Developments


April 2022: String inverters were delivered for a 20.7 MW rooftop PV plant for XPENG's base to produce electric vehicles, according to a statement from Sungrow Power Supply. The XPENG facility is powered by 30% clean electricity.


January 2021: Tesla stated that a customised solar inverter would be developed in 2021. Tesla solar inverters come with two or four maximum power point trackers (MPPTs) and come in 3.8 kW and 7.6 kW variants.


Solar Hybrid Inverter Market Segmentation


Solar Hybrid Inverter Product Outlook



  • Single-Phase Hybrid

  • Three-Phase Hybrid


Solar Hybrid Inverter End-User Outlook



  • Commercial

  • Residential

  • others


Solar Hybrid Inverter Regional Outlook



  • North America

    • U.S.

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 7.5 Billion
Market Size 2023 USD 8.16 Billion
Market Size 2032 USD 16.15 Billion
Compound Annual Growth Rate (CAGR) 8.90% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Product, End-User and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Flin Energy (India), Havells (India), Schneider Electric (France), Microtek Inverters (India), Delta Energy Systems (Germany), Pure Volt (India), Su-Kam power systems (India), Redback Technologies (Australia), Luminous (India), EAST Group (China), KACO new energy (Germany), Tabuchi Electric (US), SolarEdge Technologies (Israel), Voltronic Power Technology (Taiwan), and SolaX Power (China)
Key Market Opportunities The Growing Demand for Energy Storage
Key Market Dynamics Growing Demand for Energy Independence, Advancements in Energy Storage Technology




Frequently Asked Questions (FAQ) :

The Solar Hybrid Inverter market size was valued at USD 7.5 Billion in 2022.

The market is projected to grow at a CAGR of 8.90% during the forecast period, 2023-2032.

The key players in the market are Flin Energy (India), Havells (India), Schneider Electric (France), Microtek Inverters (India), Delta Energy Systems (Germany), Pure Volt (India), Su-Kam power systems (India), Redback Technologies (Australia), Luminous (India), EAST Group (China), KACO new energy (Germany), Tabuchi Electric (US), SolarEdge Technologies (Israel), Voltronic Power Technology (Taiwan), and SolaX Power (China).

The Three-Phase Hybrid category dominated the market in 2022.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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