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The global solar inverter market is set to contract over the next two years, according to analysis from Wood Mackenzie. The consultancy is forecasting the market will fall to 577 GWac in 2025, a 2% year-on-year decrease, followed by a further 9% drop to 523 GWac in 2026.
Wood Mackenzie's latest analysis expects market uncertainty in China, Europe and the U.S. to cause two consecutive years of contraction in the global solar inverter market, forecasting a fall to 577 GWac this year and 523 GWac in 2026. Image: Lauri Veerde, Wikimedia Commons, CC BY-SA 4.0
The global PV inverter market was valued at USD 34.6 billion in 2024 and is estimated to grow at a CAGR of 9.5% from 2025 to 2034. The paradigm shift toward the integration of renewable energy resources will fuel the adoption of efficient systems.
By the early 2030s, Wood Mackenzie is projecting the solar inverter market to recover and surpass the 2024 market size with electrification, AI demand growth and a cyclical repowering market set to provide a solid foundation for inverter demand.
The global PV inverter market was valued at USD 34.6 billion in 2024 and is estimated to grow at a CAGR of 9.5% from 2025 to 2034.
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The global solar inverter industry will contract over the next two years as major markets in China, Europe and the US confront new volatility, according to energy market analyst Wood
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Wood Mackenzie report shows Huawei and Sungrow tightening control of a record 589 GWac inverter market as Asia surges and Europe, U.S. shipments falter Global demand for solar
The global solar inverter market is set to contract over the next two years, according to analysis from Wood Mackenzie. The consultancy is forecasting the market will fall to 577 GWac in
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The global solar inverter market will contract for two consecutive years, declining 2% to 577 Gigawatts AC (GWac) in 2025 and a further 9% to 523 GWac in 2026, according to Wood
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