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Commercial & Industrial String Inverter Market Trends

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

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Commercial & Industrial String Inverter Market Trends

Growing emphasis on reducing carbon footprints and adhering to corporate social responsibility (CSR) goals has pushed businesses to adopt renewable energy solutions, driving product penetration. Additionally, string inverter’s excellent efficiency and compatibility with various solar PV configurations will boost the product adoption achieving sustainability objectives in the sector. Increasing investments in developing inverters with advanced monitoring capabilities, offering real-time data on energy production, system health, and potential issues coupled with reduced downtime and maintenance costs will stimulate the business outlook.

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.