Hybrid Inverter Market Size Analysis and Top Companies
The global hybrid inverter market size is estimated to hit around USD 6.82 billion by 2033, increasing from USD 2.33 billion in 2023 with a CAGR of 11.36% from 2023 to 2033. The top companies operating in the hybrid inverter market SMA Solar Technology AG, SolarEdge Technologies Inc., ABB Ltd., GoodWe Power Supply Technology Co., Ltd., Huawei Technologies Co., Ltd., Fronius International GmbH, Enphase Energy Inc., Sungrow Power Supply Co., Ltd., Schneider Electric SE, OutBack Power Inc., Delta Electronics, Inc., KACO new energy GmbH, Schneider Electric SE, Growatt New Energy Technology Co., Ltd., Victron Energy B.V., and Others.
Market Report Coverage
| Report Coverage |
Details |
| Growth Rate from 2024 to 2033 |
CAGR of 11.36% |
| Market Size in 2023 |
USD 2.33 Billion |
| Market Size by 2033 |
USD 6.82 Billion |
| Largest Market |
North America |
| Base Year |
2023 |
| Forecast Period |
2024 to 2033 |
| Segments Covered |
By Type, By Product, and By End User |
| Regions Covered |
North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Hybrid Inverter Key Players
- SMA Solar Technology AG
- SolarEdge Technologies Inc.
- ABB Ltd.
- GoodWe Power Supply Technology Co., Ltd.
- Huawei Technologies Co., Ltd.
- Fronius International GmbH
- Enphase Energy Inc.
- Sungrow Power Supply Co., Ltd.
- Schneider Electric SE
- OutBack Power Inc.
- Delta Electronics, Inc.
- KACO new energy GmbH
- Schneider Electric SE
- Growatt New Energy Technology Co., Ltd.
- Victron Energy B.V.
Recent Developments
- In 2023, GoodWe, a prominent solar inverter and energy storage solutions manufacturer, has forged a strategic alliance with Jubaili Bros, a major power solutions supplier across the Middle East, Africa, and Asia. This partnership is designed to enhance GoodWe's footprint in the Middle East and Africa, leveraging the combined strengths of both companies in the renewable energy sector.
- In 2022, SMA Solar Technology AG is poised to expand production capacity at its Niestetal headquarters, Germany, from 21 GW to nearly 40 GW by 2024. This strategic move aligns with the anticipated growth in the renewable energy sector, emphasizing SMA's commitment to harnessing opportunities in the dynamic market while reinforcing its operations in Germany.
- In 2021, The Fronius Primo GEN24 Plus stands out as a versatile hybrid inverter equipped with backup power capabilities. Specifically, the Fronius GEN24 Primo 8 kW 1 Phase 2 MPPT model functions as a solar inverter, converting solar energy into electricity. These inverters showcase Fronius's commitment to advanced technology and efficient energy solutions.
We have prepared a service to support you. please feel free to contact us at sales@precedenceresearch.com | +1 804 441 9344
