Western Europe Solar Power Inverter

How big is the European solar inverter market?

The European solar inverter market is set to grow from USD 2.85 billion in 2024 to USD 3.66 billion by 2029, with a growth rate of 5.06% annually. This growth is driven by government incentives, investments in solar energy, and a focus on reducing carbon emissions. Germany is the largest market, followed by the UK and France.

Who are the key players in the European solar inverters market?

The European solar inverters market is highly fragmented. The key players (in no particular order) in the market include FIMER SpA, Schneider Electric SE, Siemens AG, Mitsubishi Electric Corporation, and General Electric Company, among others. Need More Details on Market Players and Competitors?

Are European inverter manufacturers able to capture 20% of the market?

It is estimated that EU inverter manufacturers are only able to capture 20% of the market currently. Right now, European inverters have a critical opportunity to further tap into the technological advancements needed for the electrification and digitalisation of the energy system.

Are European inverter manufacturers facing competition?

However, European inverter manufacturers are facing pressure and growing competition. While some EU inverter companies keep growing and announcing reinvestment plans, their relative market share in Europe is shrinking. It is estimated that EU inverter manufacturers are only able to capture 20% of the market currently.