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Commercial & Industrial Standalone PV Inverter Market Share

Report ID: GMI12001
Published Date: Oct 2024
Report Format: PDF

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Commercial & Industrial Standalone PV Inverter Market Share

Commercial & Industrial Standalone PV Inverter Company Market Share

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Eminent players are actively exploring emerging markets within the Asia Pacific region, such as India and Southeast Asia, where solar energy adoption is rapidly increasing. Companies are collaborating with local firms and technology providers to enhance their market presence and improve service delivery. Leading players are focusing on research and development to enhance their product offerings. They are investing in advanced inverter technologies that improve efficiency, connectivity, and user experience.

Commercial & Industrial Standalone PV Inverter Market Companies

Eminent players operating in the Commercial & Industrial Standalone PV Inverter industry are:

Chint Power Systems
Growatt
Hitachi Hi-Rel Power Electronics
INVTSolar
LEONICS
SUNGROW
Solplanet
Sankopower
SMA Solar Technology
Waaree

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The global market for commercial & industrial standalone PV inverter was reached USD 3.2 billion in 2023 and is estimated to grow at a 13.7% CAGR from 2024 to 2032, driven by increasing demand for reliable energy sources in remote areas.

The three-phase segment is anticipated to surpass USD 10 billion by 2032, due to its greater power output, which is crucial for commercial and industrial facilities requiring substantial energy to support operations.

The string segment is set to grow at a CAGR of over 13.5% through 2032, attributed to its cost-effectiveness and excellent scalability, making it a preferred choice in commercial and industrial projects.

The Asia Pacific market for commercial & industrial standalone PV inverter is projected to exceed USD 3 billion by 2032, propelled by industrial growth, urban expansion, and the continuous decline in the costs of solar panels and inverters in the region.

Key players in the industry include Chint Power Systems, Growatt, Hitachi Hi-Rel Power Electronics, INVTSolar, LEONICS, SUNGROW, Solplanet, Sankopower, SMA Solar Technology, and Waaree.