Hybrid Inverter Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Hybrid Inverter Market is segmented By Application (Single-Phase Hybrid Inverter, Three-Phase Hybrid Inverter), By Type (On-Grid Hybrid Inverter, Off-....

Hybrid Inverter Market Size

Market Size in USD

CAGR11.37%

Study Period2024 - 2031
Base Year of Estimation2023
CAGR11.37%
Market ConcentrationMedium
Major PlayersSMA Solar Technology AG, SolarEdge Technologies Inc., ABB Ltd., GoodWe Power Supply Technology Co., Ltd., Huawei Technologies Co., Ltd.
*Disclaimer: Major players are listed in no particular order.
*Source: Coherent Market Insights
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Hybrid Inverter Market Analysis

The hybrid inverter market is estimated to be valued at USD 3.21 Bn in 2024 and is expected to reach USD 6.82 Bn by 2031. It is projected to grow at a compound annual growth rate (CAGR) of 11.37% from 2024 to 2031. The hybrid inverter market is expected to witness significant growth due to various government policies and initiatives promoting the installation of solar panels on residential properties.