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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.
The global market for three-phase string inverter was reached USD 16.7 billion in 2024 and is projected to grow at a 10.5% CAGR from 2025 to 2034, driven by increasing demand for large-scale solar installations.
The commercial and industrial segment is expected to grow at a CAGR of over 10.5% through 2034, as businesses adopt renewable energy to meet sustainability goals and reduce carbon footprints.
The U.S. three-phase string inverter market is forecasted to reach USD 5.2 billion by 2034, supported by government incentives like the Investment Tax Credit (ITC) and declining solar energy system costs.
Key players include Canadian Solar, Chint Power Systems, Fimer, Goldi Solar, Huawei Technologies, INVTSolar, LEDVANCE, NingBo Deye Inverter Technology, SUNGROW, UTL Solar, and Veichi Electric.