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Industrial Power Inverter Market Size & Share, by Type (Solar Inverter, Vehicle Inverter); Output Voltage (Low Power [≤240V], Medium Power [240V–690V], High Power [>690V]); Load Type (Single Phase, Three Phase); Grid Connection (Grid Tie, Off Grid); Application (Oil & Gas, Chemicals, Power & Energy, Mining, Cement, Metallurgy) – Global Supply & Demand Analysis, Growth Forecasts, Statistical Report 2025–2037

  • Report ID: 7685
  • Published Date: May 20, 2025
  • Report Format: PDF, PPT

Global Industrial Power Inverter Market

  1. An Outline of the Global Industrial Power Inverter Market
    1. Market Definition
    2. Market Segmentation
  2. Assumptions and Abbreviations
  3. Research Methodology & Approach
    1. Primary Research
    2. Secondary Research
    3. SPSS Methodology
    4. Data Triangulation
  4. Executive Summary
  5. Growth Drivers
  6. Major Roadblocks
  7. Opportunities
  8. Prevalent Trends
  9. Government Regulation
  10. Up-Coming Technologies
  11. Growth Outlook
  12. Risk Analysis
  13. SWOT
  14. Customers: Identification of Key Target Segments
  15. Regional Demand
  16. Recent News
  17. Load Type Analysis
  18. Grid Connection Analysis
  19. Strategic Initiatives
  20. Mergers and Acquisitions (M&A)
  21. Pricing Analysis with Respect to Output Voltage
  22. Prevalent Trends
  23. Comparative Positioning
  24. Competitive Landscape
  25. Competitive Model
    1. Company Market Share, 2023 (%)
    2. Business Profile of Key Enterprise
      1. ABB
      2. Delta Electronics, Inc.
      3. Enertechups
      4. Enphase Energy
      5. Fuji Electric Co., Ltd.
      6. Huawei Technologies Co., Ltd.
      7. Mitsubishi Electric Corporation
      8. OMRON Corporation
      9. Rockwell Automation Inc. 
      10. Schneider Electric
      11. Siemens
      12. SUNGROW
  26. Global Industrial Power Inverter Market Outlook
    1. Market Overview
    2. Market Revenue by Value (USD Thousand), and Compound Annual Growth Rate (CAGR)
    3. Global Industrial Power Inverter Market Segmentation Analysis (2024-2037)
      1. By Type
        1. Solar Inverter, Market Value (USD Million), and CAGR, 2024-2037F
        2. Vehicle Inverter, Market Value (USD Million), and CAGR, 2024-2037F
      2. By Output Voltage
        1. Low Power (<= 240 V), Market Value (USD Million), and CAGR, 2024-2037F
        2. Medium Power (240 V – 690 kVA), Market Value (USD Million), and CAGR, 2024-2037F
        3. High Power (Above 690 V), Market Value (USD Million), and CAGR, 2024-2037F
      3. By Load Type
        1. Single Phase Inverter, Market Value (USD Million), and CAGR, 2024-2037F
        2. Three Phase Inverter, Market Value (USD Million), and CAGR, 2024-2037F
      4. By Grid Connection
        1. Grid Tie Inverters, Market Value (USD Million), and CAGR, 2024-2037F
        2. Off Grid Inverters, Market Value (USD Million), and CAGR, 2024-2037F
      5. By Application
        1. Oil & Gas, Market Value (USD Million), and CAGR, 2024-2037F
        2. Chemicals, Market Value (USD Million), and CAGR, 2024-2037F
        3. Power And Energy, Market Value (USD Million), and CAGR, 2024-2037F
        4. Mining & Metallurgy, Market Value (USD Million), and CAGR, 2024-2037F
        5. Cement, Market Value (USD Million), and CAGR, 2024-2037F
        6. Others, Market Value (USD Million), and CAGR, 2024-2037F
      6. By Region
        1. North America, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
        2. Europe, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F 
        3. Asia Pacific Excluding Japan, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F 
        4. Japan, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F 
        5. Latin America, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
        6. Middle East and Africa, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
    4. Cross Analysis of Load Type w.r.t. Application (USD Million), 2024-2037
  27. North America Industrial Power Inverter Market Outlook
    1. Market Overview
    2. Market Revenue by Value (USD Thousand), and Compound Annual Growth Rate (CAGR)
    3. North America Industrial Power Inverter Market Segmentation Analysis (2024-2037)
      1. By Type
        1. Solar Inverter, Market Value (USD Million), and CAGR, 2024-2037F
        2. Vehicle Inverter, Market Value (USD Million), and CAGR, 2024-2037F
      2. By Output Voltage
        1. Low Power (<= 240 V), Market Value (USD Million), and CAGR, 2024-2037F
        2. Medium Power (240 V – 690 kVA), Market Value (USD Million), and CAGR, 2024-2037F
        3. High Power (Above 690 V), Market Value (USD Million), and CAGR, 2024-2037F
      3. By Load Type
        1. Single Phase Inverter, Market Value (USD Million), and CAGR, 2024-2037F
        2. Three Phase Inverter, Market Value (USD Million), and CAGR, 2024-2037F
      4. By Grid Connection
        1. Grid Tie Inverters, Market Value (USD Million), and CAGR, 2024-2037F
        2. Off Grid Inverters, Market Value (USD Million), and CAGR, 2024-2037F
      5. By Application
        1. Oil & Gas, Market Value (USD Million), and CAGR, 2024-2037F
        2. Chemicals, Market Value (USD Million), and CAGR, 2024-2037F
        3. Power And Energy, Market Value (USD Million), and CAGR, 2024-2037F
        4. Mining & Metallurgy, Market Value (USD Million), and CAGR, 2024-2037F
        5. Cement, Market Value (USD Million), and CAGR, 2024-2037F
        6. Others, Market Value (USD Million), and CAGR, 2024-2037F
      6. By Country
        1. U.S., Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F 
        2. Canada, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F 
    4. Cross Analysis of Load Type w.r.t. Application (USD Million), 2024-2037
  28. Europe Industrial Power Inverter Market Outlook
    1. Market Overview
    2. Market Revenue by Value (USD Thousand), and Compound Annual Growth Rate (CAGR) 
    3. Europe Industrial Power Inverter Market Segmentation Analysis (2024-2037)
      1. By Type
        1. Solar Inverter, Market Value (USD Million), and CAGR, 2024-2037F
        2. Vehicle Inverter, Market Value (USD Million), and CAGR, 2024-2037F
      2. By Output Voltage
        1. Low Power (<= 240 V), Market Value (USD Million), and CAGR, 2024-2037F
        2. Medium Power (240 V – 690 kVA), Market Value (USD Million), and CAGR, 2024-2037F
        3. High Power (Above 690 V), Market Value (USD Million), and CAGR, 2024-2037F
      3. By Load Type
        1. Single Phase Inverter, Market Value (USD Million), and CAGR, 2024-2037F
        2. Three Phase Inverter, Market Value (USD Million), and CAGR, 2024-2037F
      4. By Grid Connection
        1. Grid Tie Inverters, Market Value (USD Million), and CAGR, 2024-2037F
        2. Off Grid Inverters, Market Value (USD Million), and CAGR, 2024-2037F
      5. By Application
        1. Oil & Gas, Market Value (USD Million), and CAGR, 2024-2037F
        2. Chemicals, Market Value (USD Million), and CAGR, 2024-2037F
        3. Power And Energy, Market Value (USD Million), and CAGR, 2024-2037F
        4. Mining & Metallurgy, Market Value (USD Million), and CAGR, 2024-2037F
        5. Cement, Market Value (USD Million), and CAGR, 2024-2037F
        6. Others, Market Value (USD Million), and CAGR, 2024-2037F
      6. By Country
        1. UK, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
        2. Germany, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
        3. France, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
        4. Italy, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F 
        5. Spain, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
        6. Russia, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
        7. BENELUX, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
        8. Poland, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
        9. Rest of Europe, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
    4. Cross Analysis of Load Type w.r.t. Application (USD Million), 2024-2037
  29. Asia Pacific Excluding Japan Industrial Power Inverter Market Outlook
    1. Market Overview
    2. Market Revenue by Value (USD Thousand), and Compound Annual Growth Rate (CAGR) 
    3. Asia Pacific Excluding Japan Industrial Power Inverter Market Segmentation Analysis (2024-2037)
      1. By Type
        1. Solar Inverter, Market Value (USD Million), and CAGR, 2024-2037F
        2. Vehicle Inverter, Market Value (USD Million), and CAGR, 2024-2037F
      2. By Output Voltage
        1. Low Power (<= 240 V), Market Value (USD Million), and CAGR, 2024-2037F
        2. Medium Power (240 V – 690 kVA), Market Value (USD Million), and CAGR, 2024-2037F
        3. High Power (Above 690 V), Market Value (USD Million), and CAGR, 2024-2037F
      3. By Load Type
        1. Single Phase Inverter, Market Value (USD Million), and CAGR, 2024-2037F
        2. Three Phase Inverter, Market Value (USD Million), and CAGR, 2024-2037F
      4. By Grid Connection
        1. Grid Tie Inverters, Market Value (USD Million), and CAGR, 2024-2037F
        2. Off Grid Inverters, Market Value (USD Million), and CAGR, 2024-2037F
      5. By Application
        1. Oil & Gas, Market Value (USD Million), and CAGR, 2024-2037F
        2. Chemicals, Market Value (USD Million), and CAGR, 2024-2037F
        3. Power And Energy, Market Value (USD Million), and CAGR, 2024-2037F
        4. Mining & Metallurgy, Market Value (USD Million), and CAGR, 2024-2037F
        5. Cement, Market Value (USD Million), and CAGR, 2024-2037F
        6. Others, Market Value (USD Million), and CAGR, 2024-2037F
      6. By Country
        1. China, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
        2. India, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
        3. South Korea, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
        4. Australia, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
        5. Indonesia, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
        6. Malaysia, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
        7. Vietnam, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
        8. Thailand, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
        9. Singapore, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
        10. New Zealand, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
        11. Rest of APEJ, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
  30. Japan Industrial Power Inverter Market Outlook
    1. Market Overview
    2. Market Revenue by Value (USD Thousand), and Compound Annual Growth Rate (CAGR) 
    3. Japan Industrial Power Inverter Market Segmentation Analysis (2024-2037)
      1. By Type
        1. Solar Inverter, Market Value (USD Million), and CAGR, 2024-2037F
        2. Vehicle Inverter, Market Value (USD Million), and CAGR, 2024-2037F
      2. By Output Voltage
        1. Low Power (<= 240 V), Market Value (USD Million), and CAGR, 2024-2037F
        2. Medium Power (240 V – 690 kVA), Market Value (USD Million), and CAGR, 2024-2037F
        3. High Power (Above 690 V), Market Value (USD Million), and CAGR, 2024-2037F
      3. By Load Type
        1. Single Phase Inverter, Market Value (USD Million), and CAGR, 2024-2037F
        2. Three Phase Inverter, Market Value (USD Million), and CAGR, 2024-2037F
      4. By Grid Connection
        1. Grid Tie Inverters, Market Value (USD Million), and CAGR, 2024-2037F
        2. Off Grid Inverters, Market Value (USD Million), and CAGR, 2024-2037F
      5. By Application
        1. Oil & Gas, Market Value (USD Million), and CAGR, 2024-2037F
        2. Chemicals, Market Value (USD Million), and CAGR, 2024-2037F
        3. Power And Energy, Market Value (USD Million), and CAGR, 2024-2037F
        4. Mining & Metallurgy, Market Value (USD Million), and CAGR, 2024-2037F
        5. Cement, Market Value (USD Million), and CAGR, 2024-2037F
        6. Others, Market Value (USD Million), and CAGR, 2024-2037F
    4. Cross Analysis of Load Type w.r.t. Application (USD Million), 2024-2037
  31. Latin America Industrial Power Inverter Market Outlook
    1. Market Overview
    2. Market Revenue by Value (USD Thousand), and Compound Annual Growth Rate (CAGR) 
    3. Latin America Industrial Power Inverter Market Segmentation Analysis (2024-2037)
      1. By Type
        1. Solar Inverter, Market Value (USD Million), and CAGR, 2024-2037F
        2. Vehicle Inverter, Market Value (USD Million), and CAGR, 2024-2037F
      2. By Output Voltage
        1. Low Power (<= 240 V), Market Value (USD Million), and CAGR, 2024-2037F
        2. Medium Power (240 V – 690 kVA), Market Value (USD Million), and CAGR, 2024-2037F
        3. High Power (Above 690 V), Market Value (USD Million), and CAGR, 2024-2037F
      3. By Load Type
        1. Single Phase Inverter, Market Value (USD Million), and CAGR, 2024-2037F
        2. Three Phase Inverter, Market Value (USD Million), and CAGR, 2024-2037F
      4. By Grid Connection
        1. Grid Tie Inverters, Market Value (USD Million), and CAGR, 2024-2037F
        2. Off Grid Inverters, Market Value (USD Million), and CAGR, 2024-2037F
      5. By Application
        1. Oil & Gas, Market Value (USD Million), and CAGR, 2024-2037F
        2. Chemicals, Market Value (USD Million), and CAGR, 2024-2037F
        3. Power And Energy, Market Value (USD Million), and CAGR, 2024-2037F
        4. Mining & Metallurgy, Market Value (USD Million), and CAGR, 2024-2037F
        5. Cement, Market Value (USD Million), and CAGR, 2024-2037F
        6. Others, Market Value (USD Million), and CAGR, 2024-2037F
      6. By Country
        1. Brazil, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
        2. Argentina, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
        3. Mexico, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
        4. Rest of Latin America, Market Value (USD Thousand), CAGR & Y-o-Y Growth Trend, 2024-2037F
    4. Cross Analysis of Load Type w.r.t. Application (USD Million), 2024-2037
  32. Middle East & Africa Industrial Power Inverter Market Outlook
    1. Market Overview
    2. Market Revenue by Value (USD Thousand), and Compound Annual Growth Rate (CAGR) 
    3. Middle East & Africa Industrial Power Inverter Market Segmentation Analysis (2024-2037)
      1. By Type
        1. Solar Inverter, Market Value (USD Million), and CAGR, 2024-2037F
        2. Vehicle Inverter, Market Value (USD Million), and CAGR, 2024-2037F
      2. By Output Voltage
        1. Low Power (<= 240 V), Market Value (USD Million), and CAGR, 2024-2037F
        2. Medium Power (240 V – 690 kVA), Market Value (USD Million), and CAGR, 2024-2037F
        3. High Power (Above 690 V), Market Value (USD Million), and CAGR, 2024-2037F
      3. By Load Type
        1. Single Phase Inverter, Market Value (USD Million), and CAGR, 2024-2037F
        2. Three Phase Inverter, Market Value (USD Million), and CAGR, 2024-2037F
      4. By Grid Connection
        1. Grid Tie Inverters, Market Value (USD Million), and CAGR, 2024-2037F
        2. Off Grid Inverters, Market Value (USD Million), and CAGR, 2024-2037F
      5. By Application
        1. Oil & Gas, Market Value (USD Million), and CAGR, 2024-2037F
        2. Chemicals, Market Value (USD Million), and CAGR, 2024-2037F
        3. Power And Energy, Market Value (USD Million), and CAGR, 2024-2037F
        4. Mining & Metallurgy, Market Value (USD Million), and CAGR, 2024-2037F
        5. Cement, Market Value (USD Million), and CAGR, 2024-2037F
        6. Others, Market Value (USD Million), and CAGR, 2024-2037F
      6. By Country
        1. GCC, Market Value (USD Thousand), Volume (Tons) and CAGR, 2024-2037F​
        2. Israel, Market Value (USD Thousand), Volume (Tons) and CAGR, 2024-2037F​
        3. South Africa, Market Value (USD Million), Volume (Tons) CAGR & Y-o-Y Growth Trend, 2024-2037F
        4. Rest of Middle East & Africa, Market Value (USD Thousand), Volume (Tons) and CAGR, 2024-2037F​
  33. About Research Nester

Global Market Size, Forecast, and Trend Highlights Over 2025-2037

Industrial Power Inverter Market size was valued at USD 6.8 billion in 2024 and is projected to reach a valuation of USD 43 billion by the end of 2037, rising at a CAGR of 15.6% during the forecast period, i.e., 2025-2037. In 2025, the industry size of industrial power inverter is estimated to reach USD 7.5 billion.

The industrial power inverter market is anticipated to expand owing to worldwide initiatives to integrate renewable energy systems with modern manufacturing processes. Government entities worldwide have established emission reduction policies that require industrial facilities to use energy-efficient technologies. The European Union's Energy Efficiency Directive, together with China's Carbon Reduction Action Plan, forces industries to improve their power systems, including inverters, to satisfy strict energy consumption requirements. The existing regulatory framework creates favorable conditions that drive industrial power inverter market expansion.

The industrial power inverter supply chain follows a three-part structure, which begins with semiconductor procurement, followed by inverter assembly then moves to integration within industrial systems. The cost of silicon carbide (SiC) and gallium nitride (GaN) components dominates upstream expenses when used in high-efficiency and high-voltage inverter applications. According to the U.S. Bureau of Labor Statistics (BLS), the Producer Price Index (PPI) recorded a year-over-year increase of 3.8% in electrical equipment manufacturing for 2023 due to raw material cost inflation and component shortages. The Consumer Price Index (CPI) for electricity and electronics experienced a 4.2% yearly increase in 2023 due to ongoing supply chain issues and elevated shipping expenses.     

Industrial Power Inverter Market size
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Industrial Power Inverter Sector: Growth Drivers and Challenges

Growth Drivers

  • Renewable energy integration: The worldwide transition toward renewable energy serves as a primary industrial power inverter market driver for industrial power inverter systems. These systems serve as critical components that enable the transformation of solar and wind-derived energy into electricity suitable for power grids. The implementation of solar PV systems by industries serves dual purposes through sustainability initiatives and operational expenditure reduction. In January 2025, Huawei launched its SUN2000-150K-MG0 inverter, which reached 98.8% efficiency for the C&I segment and accelerated access to clean energy. The product features active safety elements that comply with current decarbonization regulations. Government programs offering subsidies coupled with tax incentives throughout Europe and India as well and the U.S. are accelerating solar adoption rates. The global shift toward clean electrification has made solar inverters an essential component for industrial infrastructure.

  • Smart manufacturing and Industry 4.0: Manufacturers are transforming their production facilities through Industry 4.0 adoption, which requires smart inverters to achieve synchronized control of energy and manufacturing processes. Connected systems benefit from real-time monitoring capabilities while achieving load balancing and performing predictive diagnostics through these inverters. The deployment of AI-enabled platforms by manufacturers helps reduce equipment breakdowns while maximizing equipment operational periods. Siemens and Microsoft announced their partnership in May 2024 to merge Azure AI with grid management systems, which will enable smart plants to orchestrate intelligent energy distribution. The implementation of these advancements leads to improved system reliability and decreased maintenance expenses by 40%. The integration of IoT capabilities into modular inverter systems has established itself as the industry standard for robotics, assembly, and packaging lines. The digital transformation of factories will rely on intelligent inverters to provide their power infrastructure.

  • Electrification of industrial equipment: The industrial sector's transition to electric machinery drives substantial demand for powerful inverter systems. Inverters serve as essential components for powering kilns, along with conveyor systems and crushers, and heavy-duty vehicles in the cement and mining industries. The electrification initiative follows both energy efficiency standards and operational automation requirements. In November 2023, ABB released the HES580 inverter, which implements a 3-level architecture to achieve 75% harmonic loss reduction for electric transport applications and heavy industrial installations. The integration of these solutions converts traditional mechanical installations into modern electric-powered platforms. The combination of stricter emission regulations with rising productivity standards creates an escalating demand for resilient inverter platforms that maintain grid compatibility. 

Sustainability Initiatives by Key Players

Major industrial power inverter manufacturers now focus on sustainability as it helps them reach global net-zero goals and attract forward-thinking clients and partners. Companies lead sustainability efforts by adopting renewable energy for their operations and implementing process improvements and circular economy practices to reduce waste. The industrial power inverter market transition towards sustainability has both environmental benefits and strategic value due to rising investor demands combined with evolving regulations such as the EU's Carbon Border Adjustment Mechanism (CBAM), which will affect high-emission import costs. Manufacturers who adopt sustainable manufacturing methods establish themselves as innovative leaders within their industry.

Company

Sustainability Initiatives

Goals & Vision (2030)

Impact on Business

ABB

In December 2023, ABB transformed twelve manufacturing facilities to operate entirely on renewable energy and achieved a 32% reduction in Scope 1 emissions.

100% renewable energy use; 50% emission reduction.

8% revenue growth in 2023 from green product lines.

Siemens

In June 2024, Siemens recycled 92% of manufacturing waste via closed-loop systems.

 

Zero waste to landfill; 40% energy efficiency gain.

EUR 2.1 billion saved in material costs (2023–2024).

Schneider Electric

In November 2023, Schneider Electric achieved 78% renewable energy in operations; reduced water use by 35%.

Carbon-neutral operations; 100% circular packaging.

14% YoY brand value increase.

Huawei

In August 2024, Huawei deployed AI-driven inverters, lowering client carbon footprints by 25%.

50% emission cut per product; 100% recyclable designs.

USD 1.2 billion new contracts in EU green energy projects.

Companies are directing their capital expenditures toward developing compact inverters with embedded AI technologies and predictive diagnostic solutions for power conversion systems. The U.S. Department of Energy allocated USD 75 million in 2024 federal funding to support industrial inverter research and development that advances domestic manufacturing of energy-efficient systems. The embedded IoT implementation by midstream manufacturers brings real-time quality control and fault prediction capabilities to their production lines, which results in an average 12% reduction in warranty returns.  

Challenges

  • Cybersecurity threats: The implementation of AI and IoT technologies within industrial power inverter systems improves operational efficiency but leaves these systems vulnerable to cyber threats. Energy companies experienced 67% of all cyberattacks targeting inverters in 2023, which demonstrates their systems' high susceptibility to digital threats. Manufacturers need to focus on building inverters that incorporate advanced cybersecurity protections to safeguard critical infrastructure against possible security breaches.

  • Regulatory compliance: Inverter manufacturers face difficulties complying with various and evolving regulatory requirements that exist throughout different regions. Suppliers within the European Union must adhere to updated regulations that include the Energy Performance of Buildings Directive and Minimum Energy Performance Standards (MEPS), which have established strict performance requirements. Manufacturing new inverter models requires substantial research and development expenses, which can lead to elevated production costs and extended time-to- industrial power inverter market periods.

Base Year

2024

Forecast Year

2025-2037

CAGR

15.6%

Base Year Market Size (2024)

USD 6.8 billion

Forecast Year Market Size (2037)

USD 43 billion

Regional Scope

  • North America (U.S. and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Industrial Power Inverter Segmentation

Type (Solar Inverter, Vehicle Inverter)

The solar inverter segment is anticipated to command an 82.2% industrial power inverter market share throughout the forecast period. The market dominance results from growing industrial solar installations and increasing mandates for renewable energy use throughout various sectors. These inverters serve as crucial components for DC to AC conversion, which enables both grid synchronization and process automation functions. The solar integration movement gains momentum among industries since it enables both emission reduction and self-generated power independence. For instance, Sungrow introduced its 1000 V commercial inverter with 210 kW PV input and 98.8% efficiency at the World Future Energy Summit in January 2025 to target C&I deployment. The commercialization demonstrates how industries are adopting solar power generation as their primary energy source. The growing importance of ESG compliance ensures solar inverters will continue playing a vital role in factory modernization initiatives.

Output Voltage (Low Power [≤240V], Medium Power [240V–690V], High Power [>690V])

The medium power [240V–690V] inverter is projected to garner a industrial power inverter market share of 64.9% by 2037. The inverter technology serves the automotive and chemical, and food processing sectors by providing grid-ready power within specific voltage ranges. These devices exhibit modular design features that enable them to work seamlessly with motor drives in automation-heavy industrial settings. Many production lines now adopt medium-voltage systems as their standard choice following the implementation of Industry 4.0 architectures. For example, GE Vernova introduced the 6 MVA, 2000 Vdc inverter in April 2024 to serve utility-scale solar applications while maintaining industrial compatibility for enhanced scalability and power conversion capabilities. The market demonstrates expanding interest in medium-voltage systems, which enhances industrial systems' reliability and flexibility.

Load Type (Single Phase, Three Phase)

The three-phase inverters segment in industrial power inverter market is expected to maintain an 80.6% share through 2037 as they provide reliable power delivery to complex industrial operations while managing high-load applications. The reliability of these systems remains essential for cement manufacturing, along with mining and steel production, and logistics operations. Single-phase units remain less popular than three-phase units due to their superior efficiency and reduced operational costs in heavy-duty operations. The growing trend of electrification has led to the installation of three-phase inverters in both new industrial parks and upgraded existing infrastructure. In November 2024, Delta Electronics delivered 3,500 M125HV inverters to Witznitz Solar Park in Germany for large-scale three-phase applications, which resulted in annual CO₂ emission reductions of 250,000 tons. The application of these devices demonstrates their effectiveness in supporting sustainable industrial development.

Our in-depth analysis of the global market includes the following segments:

Type
  • Solar Inverter 
  • Vehicle Inverter 

Output Voltage
  • Low Power (<= 240 V)  
  • Medium Power (240 V – 690 kVA)  
  • High Power (Above 690 V)  

Load Type
  • Single Phase Inverter  
  • Three Phase Inverter  

Grid Connection
  • Grid Tie Inverters  
  • Off Grid Inverters  

Application
  • Oil And Gas  
  • Chemicals  
  • Power and Energy  
  • Mining  
  • Cement  
  • Metallurgy  

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Industrial Power Inverter Industry - Regional Synopsis

APEJ Market Statistics

APEJ industrial power inverter market is estimated to hold around 43.5% revenue share during the forecast period, due to policies supporting renewable energy adoption and automation advancements. Inverters produced by South Korea, Vietnam, and Malaysia represent more than 65% of worldwide exports alongside China and India. The automotive assembly and energy storage, and material processing industries lead to increased procurement of three-phase and hybrid inverters due to their high-growth potential. The combination of beneficial trade agreements and concentrated electronics production centers enables expansion at a regional level. China's NDRC declared in August 2024 plans to boost energy hardware modernization through a 25% capital increase, which is anticipated to drive inverter market growth. Asia Pacific maintains its position as a manufacturing hub while emerging as a leading market during the worldwide energy transition.

The industrial inverter sector in China continues to rise through government-supported grid modernization initiatives and decarbonization goals. The NDRC issued a directive in August 2024 requiring a 25% increase in capital spending for energy hardware modernization, which would enable inverter topology upgrades and digital connectivity enhancements. The inverter market features domestic leaders Huawei and Sungrow, who control both domestic and export channels while providing grid-synchronized solutions. The inverters from these manufacturers provide advanced features, including MPPT and LVRT, and grid code compliance, which enhances their competitiveness in export markets. Chinese inverter energy exports experienced a YoY increase of 19% in 2023 as ASEAN and African markets expanded their demand. The rising trends demonstrate China's essential position in worldwide supply chain management and its influence on inverter market pricing.

India industrial power inverter market experiences rapid growth owing to manufacturing growth, together with infrastructure development and solar power-based electrification. The PM-Surya Ghar scheme, launched in July 2024, aims to establish 10 million rooftop systems, which will increase demand for localized inverters. Tamil Nadu and Gujarat operate as industrial assembly clusters that serve ASEAN markets along with domestic customers. BEE introduced its performance labelling program for grid-connected inverters up to 100 kW through the March 2024 launch, which improved both performance assessment capabilities and transparency. Domestic producers expand their manufacturing capacity for medium-voltage systems, which enables industrial HVAC operation and data centers, and agricultural power requirements. The rising domestic inverter industry, along with regulatory standards and incentives, positions India to become the leading inverter manufacturer in the region.

North America Market Analysis

The industrial power inverter market in North America is expected to expand at a 15.8% CAGR from 2025 through 2037 due to domestic manufacturing initiatives and widespread adoption of renewable technologies in heavy industry sectors. The Inflation Reduction Act drives inverter deployment through its provision of 30% tax credits for domestically built units, which motivates companies to move their production facilities out of Asia. The establishment of advanced manufacturing facilities in Texas and the Midwest transforms these regions into modular inverter production centers while creating new employment opportunities and strengthening local supply networks. The U.S. utility-scale PV inverter market reached a value of USD 2.5 billion in July 2024 while benefiting from 26.3 GWac of newly installed PV capacity. The market now favors high-efficiency power systems that integrate AI technologies due to self-sufficiency energy strategies. The combination of these factors is developing a comprehensive domestic inverter production framework alongside smart grid integration capabilities.

 The U.S. power grid transformation and industrial automation processes drive changes to inverter specifications that support critical operations. Companies invest in AI-integrated inverters to fulfill Department of Energy (DOE) requirements for power efficiency and grid stability standards. The rise of cyber risks has led to changes in design standards, as 67% of energy firms experienced inverter-related attacks in 2023. Secure firmware, along with predictive analytics and encrypted communication systems, form new solutions that help organizations handle operational risks. Secure and scalable inverters have proven their essential role within U.S. industrial infrastructure through recent technological advancements.

Canada market shows steady growth toward net-zero emissions through increasing demand for industrial three-phase inverter systems that serve pulp and chemical industries and provide power backup capabilities. The Canadian provinces of Ontario and British Columbia now enforce anti-islanding as well as LVRT and harmonic control specifications for industrial inverters. The implementation of these requirements drives industries to choose smart inverter solutions that include real-time diagnostic features. The expansion of grid modernization programs leads domestic companies to collaborate with U.S. and EU technology providers for integrating inverter systems. The priority to lower carbon emissions leads Canada companies to select low-emission modular designs. Today's public infrastructure development focuses on selecting inverter products that meet the requirements of ISO/IEC standards. The new compliance standards create better investor trust and faster procurement times.

Industrial Power Inverter Market share
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Companies Dominating the Industrial Power Inverter Landscape

    The industrial power inverter market exhibits strong competition between major players who work to develop new technologies while expanding their market reach. Leading companies ABB, Delta Electronics, Inc., Enertechups, Enphase Energy, Fuji Electric Co., Ltd., Huawei Technologies Co., Ltd., Mitsubishi Electric Corporation, OMRON Corporation, Rockwell Automation Inc., Schneider Electric, Siemens, and SUNGROW lead technological progress in the industry. The market demands energy-efficient, reliable, secure inverter solutions, which these companies actively develop to serve evolving needs in industrial applications.

    Sungrow introduced its 1+X modular inverter and PowerTitan 2.0 storage system at REI 2023 in October 2023. The inverter combines features from central and string systems to achieve an 8.8 MW maximum capacity, and the PowerTitan provides integrated PCS with liquid cooling capabilities. These advancements target the next-generation utility-scale energy segment to demonstrate Sungrow's dedication to innovation while fulfilling industrial needs for scalable, efficient power solutions.

    Here are some leading companies in the industrial power inverter market:  

    Company

    Country of Origin

    Market Share (2024)

    ABB

    Switzerland

    18.5%

    Siemens

    Germany

    16.0%

    Huawei Technologies Co., Ltd.

    China

    12.5%

    Schneider Electric

    France

    11.0%

    Delta Electronics, Inc.

    Taiwan

    9.5%

    Mitsubishi Electric Corporation

    Japan

    XX%

    Sungrow

    China

    XX%

    Fuji Electric Co., Ltd.

    Japan

    XX%

    Enphase Energy

    U.S.

    XX%

    Rockwell Automation Inc.

    U.S.

    XX%

    OMRON Corporation

    Japan

    XX%

    Eaton

    Ireland

    XX%

    Toshiba Energy Systems

    Japan

    XX%

    General Electric (GE)

    U.S.

    XX%

    Enertechups

    India

    XX%

    Below are the areas covered for each company in the industrial power inverter market:

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis

In the News

  • In January 2025, SolarEdge partnered with Summit Ridge Energy to provide inverters and optimizers for U.S. commercial solar rooftops. The equipment is domestically produced in Tampa, Florida. Over 100 MW of rooftop solar will be supported under this plan. This collaboration boosts U.S. solar supply chain resilience.
  • In May 2024, ABB launched the HES580 inverter paired with its AMXE250 motor system for electric buses. The three-level inverter reduces harmonic losses by up to 75%, improving thermal performance. This innovation supports clean urban transit solutions. It expands ABB’s presence in electric mobility infrastructure.
  • In January 2024, EnerTech showcased its hybrid solar inverters with DSP tech and zero-defect Sigma 4.87 design at the MAHA Solar Expo. These systems support energy access in industrial and rural regions. The inverters enable stable power in low-grid areas. EnerTech reinforces India’s solar ambitions with advanced control architecture.

Author Credits:  Dhruv Bhatia


  • Report ID: 7685
  • Published Date: May 20, 2025
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In 2024, the industry size of industrial power inverter was USD 6.8 billion.

The global industrial power inverter market size was USD 6.8 billion in 2024 and is expected to reach USD 43 billion by the end of 2037, expanding at a CAGR of 15.6% during the forecast period, i.e., 2025-2037. In 2025, the industry size of industrial power inverter will be valued at USD 7.5 billion.

Key players in the market are ABB, Delta Electronics, Inc., Enertechups, Enphase Energy, Fuji Electric Co., Ltd., Huawei Technologies Co., Ltd., Mitsubishi Electric Corporation, OMRON Corporation, Rockwell Automation Inc., Schneider Electric, Siemens, SUNGROW.

The three phase inverter segment is anticipated to lead the industrial power inverter market during the forecast period.

APEJ is anticipated to create lucrative prospects for the companies in the industrial power inverter market during the forecast period.

Industrial Power Inverter Market Report Scope

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