Commercial Central PV Inverter Market Size - By Nominal Output Voltage (230 - 400 V, 401 - 600 V), By Nominal Output Power, By Phase, Regional Outlook & Global Forecast, 2024 – 2032

Commercial Central PV Inverter Market Size

The global commercial central PV inverter market was valued at USD 2.3 billion in 2023 and is anticipated to grow at a CAGR of 10.3% from 2024 to 2032. It is a large-scale power conversion device specifically designed for photovoltaic solar systems used in commercial applications. It consolidates and converts the direct current electricity generated by multiple solar panels into usable alternating current electricity, typically for medium to large-scale solar installations. They are preferred for their ability to handle high input voltages and deliver optimized energy performance for commercial-scale projects.
 

Increasing demand for inverters to handle high power capacities for large commercial installations such as office buildings, shopping centers, and industrial facilities will drive product adoption. Growing shift towards cost-effective devices with reduced cabling and wiring costs and minimum installation and maintenance expenses will augment the product growth.
 

Rising advancements in inverter technology with modern PV inverters adoption offering higher conversion efficiencies, often exceeding 98% and minimal energy losses during the DC to AC conversion process, maximizing overall energy yield will stimulate the business scenario. Increasing R&D to integrate central inverters with advanced grid-support offering features, such as reactive power control, voltage regulation, and frequency management, essential for maintaining grid stability in large-scale commercial installations will drive the industry outlook.
 

Commercial Central PV Inverter Market Trends

Rising demand for spacious inverters with flexible designs, especially required for commercial facilities with space constraints, such as rooftop installations or complex ground-mounted arrays will propel the product adoption. Furthermore, their compact, all-in-one design can accommodate different layouts, making them versatile for a range of commercial applications. Increasing adoption of devices that can withstand harsh environmental conditions and offering advanced monitoring solutions to enable remote diagnostics, and predictive maintenance will enhance the product penetration.
 

Commercial Central PV Inverter Market Analysis

Based on phase, the three phase central PV inverter market is anticipated to cross over USD 5.5 billion by 2032, on account of their high power capacity and scalability ideal for large commercial installations. Increasing demand for inverters with high conversion efficiencies, especially beneficial for commercial projects where maximizing energy yield is a top priority to ensure a better return on investment is set to propel the product adoption. Growing adoption of devices with built-in safety features such as ground fault detection, overvoltage protection, and anti-islanding capabilities to meet stringent safety regulations for commercial installations will complement the business landscape.
 

Based on nominal output power, the <110 kW segment is set to grow at a CAGR of over 10% through 2032, owing to growing interest in solar energy among small and medium-sized enterprises (SME), such as office buildings, retail centers, and educational institutions. Increasing demand for inverters with reduced initial investment costs and simplified installation for smaller commercial applications will improve the product adoption. Additionally, <110 kW offers greater design flexibility, making them suitable for diverse system configurations and complex layouts in commercial spaces leading to bolster the industry growth.
 

Asia Pacific commercial central PV inverter market is likely to exceed USD 2 billion by 2032. Rapid commercial and industrial expansion in countries such as India, China and Japan are driving demand for high-capacity solar installations. The solar expansion will drive product growth due to its cost-effectiveness and high-power handling capabilities. Increasing favorable policies and subsidies for commercial solar adoption, such as India’s Solar Rooftop Scheme and China’s solar feed-in tariffs will boost the adoption of high-capacity solar systems, driving demand for central PV inverters, which offer lower per-watt costs for large installations.
 

Additionally, increasing focus on utilizing rooftop spaces for commercial solar installations in countries such as Japan and Australia will boost the product traction due to their ability to manage complex system configurations and support high energy outputs from large rooftop systems.
 

In the U.S., increasing adoption of corporate renewable energy goals coupled with rising federal and state-level incentives such as the Investment Tax Credit (ITC), allowing businesses to deduct a substantial percentage of solar installation costs from their taxes will strengthen the industry landscape. Growing trend towards larger utility-scale commercial installations, particularly in sectors such as retail, logistics, and manufacturing, is increasing the demand for high-capacity central inverters to manage substantial power loads, supporting the growing demand for large commercial solar deployments in the U.S.
 

Commercial Central PV Inverter Market Share

Eminent players are focusing on geographic expansion to tap into high-growth regions such as Asia Pacific, Latin America, and the Middle East. Establishing local production facilities and R&D centers helps in tailoring products to meet regional regulatory requirements and reducing lead times, thereby gaining a competitive edge. Furthermore, major players are forming partnerships with EPC companies, developers, and energy service providers to strengthen their market position and expand the distribution channels.
 

Commercial Central PV Inverter Market Companies

Eminent players operating in the commercial central PV inverter industry are:

• Danfoss
• Fimer
• Gamesa Electric
• Hitachi
• Infineon Technologies
• Power Electronics
• Sungrow
• Sineng Electric
• SunWatts
• Statcon Energiaa
• Siemens
   

Commercial Central PV Inverter Industry News:

• In May 2022, Gamesa Electric entered a strategic cooperation agreement with Siemens AG to utilize its Proteus central inverters in PV and energy storage projects. This partnership expands the commercial reach and sales potential of the Proteus product line while ensuring continued high-quality customer support in existing markets.
   
• In March 2022, Sungrow, a leading solar inverter manufacturer from China, is set to deliver 213 MW of its central inverter solutions to Ibitu Energia. This is for the ambitious 1-GW Caldeirao Grande 2 solar complex located in Piaui state, Brazil. Under the terms of the agreement, Sungrow will provide its advanced 6.25-MW turnkey central inverter, specifically engineered for 1500Vdc systems. This collaboration not only underscores the trust Ibitu Energia places in Sungrow's technology but also solidifies Sungrow's foothold in Brazil's burgeoning renewable energy landscape.
   

This commercial central PV inverter market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in “(USD Million & MW)” from 2021 to 2032, for the following segments:

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Market, By Nominal Output Voltage

• 230 - 400 V
• 401 - 600 V

Market, By Nominal Output Power

• <110 kW
• >110 kW

Market, By Phase

• Single Phase
• Three Phase

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada 
• Europe
  • Germany
  • Italy
  • Poland
  • Netherlands
  • Austria
  • UK
  • France
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
• Middle East & Africa
  • Israel
  • Saudi Arabia
  • UAE
  • South Africa
• Latin America
  • Brazil
  • Mexico
  • Chile