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Commercial & Industrial On Grid PV Inverter Market Trends

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

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Commercial & Industrial On Grid PV Inverter Market Trends

Decreasing costs of PV modules, inverters, and associated components in line with rising prioritization of energy reliability to prevent operational disruptions will complement the product growth. Rising proliferation of IoT and AI technologies, allowing businesses to integrate on grid PV inverters into energy management systems, enabling precise energy tracking, load optimization, and seamless interaction with other grid elements, thereby augmenting the product expansion.

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.