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Commercial & Industrial PV Inverter Market Trends

Report ID: GMI9467
Published Date: May 2024
Report Format: PDF

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Commercial & Industrial PV Inverter Market Trends

Rising shift of businesses towards decentralized energy systems and distributed generation models to diversify their energy sources, reduce reliance on centralized power plants is favoring the product deployment. Increasing adoption of solar PV systems in industries including manufacturing, retail, hospitality, healthcare, and agriculture is creating robust opportunities for the product to tailor specific needs and requirements of these sectors.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of commercial & industrial PV inverter was reached USD 14.1 billion in 2023 and is anticipated to grow at over 13.8% CAGR from 2024 to 2032, owing to rising energy independence and reliability.

The string segment in the commercial & industrial PV inverter market is anticipated to exceed USD 26.9 billion by 2032, driven by the rising demand for inverters with modular design and scalability coupled with optimized performance monitoring.

Europe commercial and industrial PV inverter market is estimated to cross USD 25.8 billion by 2032, attributed to the renewable energy targets including European Union's Renewable Energy Directive to combat climate change and transition towards a low carbon economy.

Canadian Solar, Delta Electronics, Inc., Darfon Electronics Corp., Eaton, Fimer Group, Ginlong Technologies, GoodWe, Growatt New Energy, Huawei Technologies Co., Ltd., Schneider Electric, SMA Solar Technology AG, Sungrow, SolarEdge Technologies, Inc., and Sineng Electric Co., Ltd.