Featured in Battling the elements – 09-2025

Inverter market shifts

Despite inverter shipments being projected to grow in 2025, the mood in the industry remains tense. S&P Global’s Liam Coman sees an evolving competitive landscape increasingly dominated by Chinese suppliers. With demand shifting to markets like Saudi Arabia, India and emerging residential markets, established players may still be left chasing a slice of a shrinking pie.

By

Mark Hutchins

08 Sep 2025

The system operates using 21 Growatt MAX 125KTL3-X LV inverters. | image: Growatt

The PV inverter market is set for robust growth in 2025, with global shipments projected to rise by 13% and reach 634 GW (AC), according to the latest S&P Global Commodity Insights tracker. This is driven by a return to growth for the European market and a rush to install in China in the first …

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