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Utility On Grid PV Inverter Market Share

Report ID: GMI12540
Published Date: Dec 2024
Report Format: PDF

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Utility On Grid PV Inverter Market Share

Utility On Grid PV Inverter Company Market Share

Eminent players are increasingly incorporating IoT and AI technologies into their inverters to offer remote monitoring and diagnostic capabilities, helping them gain a competitive edge and expand their market presence. Key industry players are making substantial investments in research and development, focusing on product innovation. This includes the development of smart inverters equipped with advanced grid-support functions and improved maximum power point tracking (MPPT) algorithms, which enhance efficiency and performance. These innovations not only bolster brand reputation but also help companies strengthen their market position.

Utility On Grid PV Inverter Market Companies

Eminent players operating in the utility on grid PV inverter industry are:

Canadian Solar
Delta Electronics
Eaton
Enphase Energy
Fimer Group
GoodWe
Schneider Electric
SMA Solar Technology
Sungrow Power Supply
Solis Inverters
SolarEdge Technologies
V-Guard Industries

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The global market for utility on-grid PV inverter was reached USD 18.5 billion in 2024 and is estimated to grow at a CAGR of 7.7% from 2025 to 2034, driven by increasing demand for renewable energy.

The central segment is anticipated to exceed USD 26.5 billion by 2034, due to their high power handling capacity, making them suitable for utility-scale solar projects.

The < 1500 V segment is set to grow at a CAGR of over 7.5% through 2032, led by increased efficiency and reduced electrical losses over long distances.

The U.S. utility on-grid PV inverter market is likely to exceed USD 6 billion by 2034, supported by government policies such as the Investment Tax Credit (ITC) and renewable energy standards.

Key players in the industry include Canadian Solar, Delta Electronics, Eaton, Enphase Energy, Fimer Group, GoodWe, Schneider Electric, SMA Solar Technology, Sungrow Power Supply, Solis Inverters, SolarEdge Technologies, and V-Guard Industries.