Three Phase String Inverter Market Size - By Connectivity (Standalone, On Grid), By Application (Residential, Commercial & Industrial, Utility), & Forecast, 2025 – 2034

Three Phase String Inverter Market Size

The global three phase string inverter market was valued at USD 16.7 billion in 2024 and is estimated to grow at a CAGR of 10.5% from 2025 to 2034. It is a type of solar inverter designed to convert the DC electricity generated by photovoltaic solar panels into AC electricity suitable for three phase power systems. These inverters are commonly used in commercial, industrial, and utility-scale solar installations due to their ability to handle higher power outputs and efficiently integrate with three phase grid systems.
 

Increasing demand for large scale solar installations will boost the product adoption on account of their ability to handle higher power outputs and deliver balanced electricity across multi phases. Rising demand for solutions offering seamless integration with the grid, especially in regions with robust three phase electricity distribution systems will improve the product demand. Additionally, their ability to manage voltage and frequency fluctuations contributes to grid stability, a crucial requirement for modern power networks, driving the business outlook.
 

Expanding need for cost-effective and scalable inverters with minimized cabling and installation complexities will foster the product adoption. Rising government support focused on encouraging renewable energy adoption and policies aimed at achieving net-zero carbon goals and transitioning to clean energy sources will spur the industry growth.
 

Three Phase String Inverter Market Trends

Ongoing innovations in multi phase string inverters, such as smart grid compatibility, remote monitoring capabilities, and advanced safety features such as anti-islanding will enhance their appeal thereby improving the business scenario. Furthermore, increasing cost of conventional energy and the growing emphasis on sustainability will encourage businesses to adopt solar energy solutions.
 

Three Phase String Inverter Market Analysis

Based on connectivity, the on grid segment is anticipated to reach over USD 36 billion by 2034. Rapid urbanization and increased energy demand in commercial and industrial sectors will propel the product demand to overcome these needs by providing robust and scalable energy conversion systems. Growing adoption of cost-effective connectivity combined with the lower installation and maintenance expenses will further improve industry statistics. Additionally, global push toward decarbonization and the adoption of clean energy sources will complement the product growth.
 

Based on application, the commercial & industrial segment is set to grow at a CAGR of over 10.5% through 2034. Growing shift towards renewable energy will encourage businesses and industries to meet sustainability goals and reduce carbon footprints, driving the product penetration. Improving government incentives and regulations to promote clean energy and reduce dependence on fossil fuels will further accelerate the adoption of solar PV systems in the commercial and industrial sectors.
 

The U.S. three phase string inverter market is predicted to hit USD 5.2 billion by 2034. Rising government incentives for solar installations, such as the Investment Tax Credit (ITC), which offers up to 26% tax incentives for businesses installing solar systems will boost demand for efficient inverters. Continuous decline in the cost of solar energy systems coupled with increasing occurrences of power outages and natural disasters in the U.S will uplift the product demand.
 

In Asia Pacific rising ambitious renewable energy goals, including India’s National Solar Mission and China’s 14th Five-Year Plan, aimed to encourage large-scale solar adoption will create lucrative opportunities for high-performance three phase inverters. Rapid urbanization particularly in countries such as China, India, and Vietnam, will fuel the need for reliable, efficient power solutions, improving the business landscape.
 

Three Phase String Inverter Market Share

Eminent players are expanding their offerings by introducing versatile inverter solutions designed specifically for commercial and industrial (C&I) applications. By diversifying their portfolios, these players can cater to a wider customer base, from residential users to large enterprises. Companies are expanding into high-growth regions such as Asia Pacific and Latin America due to increasing demand for renewable energy. Additionally, leading players are focusing heavily on innovation to improve the performance, efficiency, and reliability of their three phase string inverters.
 

Three Phase String Inverter Market Companies

Eminent players operating in the three phase string inverter industry are:

• Canadian Solar
• Chint Power Systems
• Fimer
• Goldi Solar
• Huawei Technologies
• INVTSolar
• LEDVANCE
• NingBo Deye Inverter Technology
• SUNGROW
• UTL Solar
• Veichi Electric
   

Three Phase String Inverter Industry News:

• In July 2023, Goldi Solar introduced its VAMA range of smart string inverters specifically for on-grid applications. The series includes both single-phase and three phase variants, catering to diverse residential and commercial energy needs.
   
• In January 2021, FIMER, the world's fourth-largest solar inverter manufacturer, unveiled its PVS10/33-TL three phase string inverters, targeting commercial and industrial (C&I) applications. This launch marks an expansion of FIMER's string inverter lineup, boasting improved performance features designed for varied application needs, as the company seeks to tap into the burgeoning renewable energy sector.
   

This three phase string inverter market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue and volume in “(USD Billion & MW)” from 2021 to 2034, for the following segments:

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Market, By Connectivity

• Standalone
• On Grid

Market, By Application

• Residential
• Commercial & Industrial
• Utility

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

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