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.