The major stakeholders in the global solar inverters market ecosystem include raw material providers, solar inverter manufacturers, and end user. A raw materials supplier (provider) gathers natural resources or other raw materials and ships them to manufacturers and other producers. Then, solar inverter manufacturers convert raw materials and natural resources into useful goods for many different consumers. In order to do this process in an efficient manner, manufacturers typically rely on a raw materials supplier. With the rising demand for solar inverters for rising number of solar installations attributed to government-led incentives and schemes and growing residential solar rooftop installations across the globe, the solar inverter manufacturers are also experiencing sustainable growth opportunities. Some of the major solar inverter manufacturers are ABB Ltd; Delta Electronics, Inc.; Enertechups; GOODWE; Power Electronics S.L.; Powerone Micro Systems Pvt.Ltd; Sineng Electric; SMA Solar Technology AG; Solaredge Technologies Inc.; and Hitachi Hi-Rel Power Electronics Pvt Ltd. These solar inverter manufacturers are always engaged in the advancement of the solar inverters for proper function. For instance, in December 2021, Enertech had helped government institute at Agra save electricity bill by installing 250 kilo-volt-ampere (kVA) solar hybrid inverter.
SMA Solar Technology AG, SolarEdge Technologies Inc., Fimer Group, GOODWE, and Power Electronics S.L. – Prominent Market Participants in Solar Inverters Market
The major end user of the solar inverters market include residential, commercial, and utility. The residential end user segment has witnessed growth because of the increased demand for solar renewable energy among consumers for electrification purposes. Also, governments in multiple countries have taken active steps with policies and financial incentives to promote captive power generation via renewable sources such as power in residential buildings.
SMA Solar Technology AG, SolarEdge Technologies Inc., Fimer Group, GOODWE, and Power Electronics S.L. are the five key market players operating in the global solar inverters market. The solar inverters market is highly fragmented and competitive due to occurrence of huge number of small scale and medium scale manufacturers in both developed and developing economies. The top 5 market players are majorly focusing on various organic and inorganic growth strategies to survive in the Solar Inverters market. Such as, innovation of new technologies to offer enhanced product portfolios to the customers, merger and acquisitions, and expansion strategies.
Most of the market initiatives were observed in the Europe and APAC regions, which have a high potential of Solar Inverters providers. Few of the important market initiatives and product developments from the industry are mentioned below:
| Year | News | Region |
| 2022 | ABB had announced the opening of its new production site at Italy-the E-mobility Center of Excellence. It has floor space of 16,000 m square. It will provide support to electrification of transport sectors. | Europe |
| 2022 | Delta had received the ENERGY STAR-2022 Partner of the year award for the seventh consecutive year for sustained excellence by US Environmental Protection Agency. | APAC |
