logo

Europe Solar Inverter Market Size (2024 - 2029)

The Europe solar inverters market is projected to experience growth over the forecast period, driven by supportive government initiatives and investments in solar energy electrification. Despite challenges such as limited awareness, high infrastructure costs, and recent subsidy cuts, the market is poised for expansion due to ongoing innovations and technological advancements by inverter manufacturers. Germany is anticipated to lead in market growth, with significant demand from residential and utility-scale projects.

Home Market Analysis Energy & Power Research Power Equipment Research Solar Equipment Research Solar PV Inverter Research Europe Solar Inverters Industry Market Size

Market Size of Europe Solar Inverter Industry

Europe Solar Inverter Market - Market Summary
Study Period 2019-2029
Base Year For Estimation 2023
Market Size (2024) USD 2.85 Billion
Market Size (2029) USD 3.66 Billion
CAGR (2024 - 2029) 5.06 %
Market Concentration Low

Major Players

Europe Solar Inverter Market Major Players

*Disclaimer: Major Players sorted in no particular order

Europe Solar Inverter Market Analysis

The Europe Solar Inverter Market size is estimated at USD 2.85 billion in 2024, and is expected to reach USD 3.66 billion by 2029, growing at a CAGR of 5.06% during the forecast period (2024-2029).

  • Over the medium period, factors such as supportive government initiatives and investment in electrification using solar energy are expected to support the European solar inverters market.
  • On the other hand, the lack of general awareness, infrastructure development costs, and recent subsidy cuts on solar panels by governments in the European region are expected to hinder the growth of the market studied during the forecast period.
  • Nevertheless, inverter manufacturers strive for innovation and adoption of the latest technologies powered by solar energy. This factor is expected to create immense opportunities for the European solar inverters market in the near future.
  • Germany is expected to be the fastest and largest growing market during the forecast period, with the majority of the demand coming from residential and utility-scale projects.

Europe Solar Inverter Industry Segmentaion

A solar PV inverter is a power inverter that converts electricity in direct current (DC) output from a photovoltaic (PV) solar panel into alternating current (AC) at utility frequency. This can be fed into use for commercial electrical grids or used by a local off-grid electrical network, such as micro-grids or nano-grids. The inverter system is critical for the balance of system components in a photovoltaic system, allowing the use of ordinary AC-powered equipment. Solar power inverters have special functions adapted for use with photovoltaic arrays, including maximum power point tracking and anti-islanding protection.

The European solar inverters market is segmented by inverter type, application, and geography. By inverter type, the market is segmented into central inverters, string inverters, and micro-inverters. By application, the market is segmented into residential, commercial and industrial, and utility-scale. The report also covers the market size and forecasts for the European solar inverter market across major countries in the region. The report offers the market size in value terms in USD for all the abovementioned segments.

Inverter Type
Central Inverters
String Inverters
Micro Inverters
Application
Residential
Commercial and Industrial
Utility-scale
Geography
Germany
United Kingdom
France
Spain
Italy
Nordic Countries
Turkey
Russia
Rest of Europe
Need A Different Region Or Segment?
Customize Now

Europe Solar Inverter Market Size Summary

The European solar inverters market is poised for significant growth over the forecast period, driven by supportive government initiatives and increased investment in solar energy electrification. Despite challenges such as limited public awareness, high infrastructure costs, and recent subsidy reductions, the market is expected to benefit from technological innovations and advancements in solar energy applications. Germany is anticipated to lead the market, with substantial demand stemming from residential and utility-scale projects. The central inverter segment, crucial for large-scale solar photovoltaic systems, is expected to dominate market growth, supported by the increasing number of large solar installations across Europe.

Germany's solar photovoltaic market is the largest in Europe, bolstered by attractive feed-in tariffs and a robust regulatory framework that encourages solar power adoption. The country's focus on decentralized renewable energy generation aligns with broader European energy transition goals, making it a key player in the solar inverters market. The reduction in solar PV module costs and the integration of energy storage systems are expected to further stimulate market expansion. The European solar inverters market remains highly fragmented, with major players like FIMER SpA, Schneider Electric SE, and Siemens AG actively contributing to the competitive landscape through innovations and capacity expansions.

Explore More

Europe Solar Inverter Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD, till 2029

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

        1. 1.5.1.1 Supportive Government Initiatives

        2. 1.5.1.2 Investment in Electrification Using Solar Energy

      2. 1.5.2 Restraints

        1. 1.5.2.1 Lack of General Awareness, Infrastructure Development Costs, and Recent Subsidy Cuts on Solar Panels

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitute Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Inverter Type

      1. 2.1.1 Central Inverters

      2. 2.1.2 String Inverters

      3. 2.1.3 Micro Inverters

    2. 2.2 Application

      1. 2.2.1 Residential

      2. 2.2.2 Commercial and Industrial

      3. 2.2.3 Utility-scale

    3. 2.3 Geography

      1. 2.3.1 Germany

      2. 2.3.2 United Kingdom

      3. 2.3.3 France

      4. 2.3.4 Spain

      5. 2.3.5 Italy

      6. 2.3.6 Nordic Countries

      7. 2.3.7 Turkey

      8. 2.3.8 Russia

      9. 2.3.9 Rest of Europe

Europe Solar Inverter Market Size FAQs

The Europe Solar Inverter Market size is expected to reach USD 2.85 billion in 2024 and grow at a CAGR of 5.06% to reach USD 3.66 billion by 2029.

In 2024, the Europe Solar Inverter Market size is expected to reach USD 2.85 billion.

European Solar Inverters Market Report Snapshots

Europe Solar Inverters Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)