Home > Energy & Power > Electrical Equipment > Solar Parts and Components > Commercial & Industrial String Inverter Market

Commercial & Industrial String Inverter Market Size

Report ID: GMI12624
Published Date: Dec 2024
Report Format: PDF

Download Free Sample

Commercial & Industrial String Inverter Market Size

The global commercial & industrial string inverter market was valued at USD 13.1 billion in 2024 and is estimated to grow at a CAGR of 10.6% from 2025 to 2034. It is a type of power conversion device designed to convert the direct current generated by solar photovoltaic (PV) panels into alternating current for use in commercial or industrial facilities. These inverters are typically used in medium- to large-scale solar installations and connect multiple strings of solar panels to a single inverter, making them cost-effective and efficient.

To get key market trends

Download Free Sample

Increasing demand for cost-effective inverters with modular design, allowing flexible system scaling, and enabling businesses to expand their solar capacity without overhauling the entire setup will influence the product proliferation. Rising advancements in string inverter technology including multiple maximum power point trackers (MPPTs), integrated arc-fault circuit interrupters (AFCIs), and remote monitoring features to enhance system performance and safety will augment the product adoption.

Commercial & Industrial String Inverter Market Report Attributes
Report Attribute	Details
Base Year:	2024
Commercial & Industrial String Inverter Market Size in 2024:	USD 13.1 Billion
Forecast Period:	2025 to 2034
Forecast Period 2025 to 2034 CAGR:	10.6%
2034 Value Projection:	USD 37.9 Billion
Historical Data for:	2021 - 2023
No. of Pages:	115
Tables, Charts & Figures:	25
Segments covered:	Voltage, Connectivity and Region
Growth Drivers:	Increased focus on sustainability Growing demand for distributed energy Regulatory compliance and incentives
Pitfalls & Challenges:	Price increase due to supply chain disruption

Learn more about the key segments shaping this market

Download Free Sample

Growing customer preference towards inverters aligning with stringent international and regional grid standards, such as those mandated in the U.S. and Europe will augment the product growth. Additionally, rising policies such as net metering, investment tax credits (ITC), and renewable energy incentives further encourage businesses to adopt solar systems equipped with string inverters.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The global market for commercial and industrial string inverter was reached USD 13.1 billion in 2024 and is estimated to grow at a 10.6% CAGR from 2025 to 2034, driven by increased focus on sustainability.

The ≤ 230V - 400V segment is anticipated to exceed USD 18.6 billion by 2034, due to its high compatibility with low voltage systems, ensuring seamless integration without additional voltage transformation equipment.

The standalone segment is set to grow at a CAGR of over 12.6% through 2034, stimulated by businesses focusing on energy independence to mitigate risks associated with grid outages and supply disruptions.

The U.S. commercial and industrial string inverter market is likely to exceed USD 3.4 billion by 2034, propelled by government programs such as the Investment Tax Credit (ITC) and renewable energy mandates.

Key players in the industry include Delta Electronics, Fronius International, Growatt, GoodWe, Huawei Technologies, Havells, Schneider Electric, Sofar Solar, Sineng Electric, SMA Solar Technology, Sungrow, and SolarEdge Technologies.