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Commercial & Industrial On Grid PV Inverter Market Size

Report ID: GMI12545
Published Date: Dec 2024
Report Format: PDF

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Commercial & Industrial On Grid PV Inverter Market Size

The global commercial & industrial on grid PV inverter market was valued at USD 7.6 billion in 2024 and is estimated to grow at a CAGR of 12.9% from 2025 to 2034. It is a power conversion device specifically designed to connect solar photovoltaic (PV) systems to the electrical grid in commercial and industrial settings. These inverters convert the direct current generated by solar panels into alternating current compatible with the local grid standards, enabling the seamless integration of solar power into the existing energy infrastructure.

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Rising electricity prices challenge the growth of various commercial & industrial settings, promoting them to seek cost-effective energy solutions, thereby influencing the product adoption. Growing pressure on the sector to adopt sustainable practices to meet environmental regulations and fulfill CSR goals will foster the product penetration.

Commercial & Industrial On Grid PV Inverter Market Report Attributes
Report Attribute	Details
Base Year:	2024
Commercial & Industrial On Grid PV Inverter Market Size in 2024:	USD 7.6 Billion
Forecast Period:	2025 to 2034
Forecast Period 2025 to 2034 CAGR:	12.9%
2034 Value Projection:	USD 27 Billion
Historical Data for:	2021 to 2023
No. of Pages:	75
Tables, Charts & Figures:	20
Segments covered:	Product, Nominal Output Voltage, and Region
Growth Drivers:	Rising energy costs Focus on sustainability and corporate social responsibility (CSR) Growing regulatory support
Pitfalls & Challenges:	Grid infrastructure challenges

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Increasing favorable policies, tax benefits, and subsidies for renewable energy adoption will encourage the installation of on grid PV systems in the sector, driving the business outlook. Rising investments by key players and researchers in boosting the adoption of modern inverters offering efficiency, better reliability, and advanced features such as real-time monitoring, remote diagnostics, and smart grid compatibility will bolster the business landscape.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The global market for commercial and industrial on-grid PV inverters was reached USD 7.6 billion in 2024 and is estimated to grow at a 12.9% CAGR from 2025 to 2034, driven by rising energy costs and regulatory support.

The central inverter segment is anticipated to exceed USD 13.5 billion by 2034, due to its ability to manage centralized power conversion, reducing the complexity of large-scale installations.

The > 600 V segment is set to grow at a CAGR of over 13% by 2034, driven by increased demand for high voltage applications that enable efficient power transmission over longer distances.

The U.S. market is projected to exceed USD 4.2 billion by 2034, led by rising energy prices and frequent grid disruptions due to extreme weather events.

Key players in the industry include Delta Electronics, Fronius International, GoodWe, Growatt New Energy Technology, Huawei Technologies, SMA Solar Technology, Sungrow Power Supply, Solaredge Technologies, Solis Inverters, and V-Guard Industries.