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Utility Scale PV Inverter Market Share

Report ID: GMI5270
Published Date: Dec 2024
Report Format: PDF

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Utility Scale PV Inverter Market Share

Eminent players are increasingly integrating Internet of Things (IoT) and Artificial Intelligence technologies into their inverters, enabling remote monitoring and diagnostics. This technological shift helps companies gain a competitive advantage by enhancing the functionality and performance of their products. In addition, companies are investing in research and development to create innovative solutions. These technological advancements not only enhance product reputation but also allow companies to strengthen their position in the market.

Utility Scale PV Inverter Market Companies

Eminent players operating in the Utility Scale PV Inverter industry are:

Canadian Solar
Delta Electronics
Eaton
Fimer Group
GoodWe
GE Vernova
Huawei Technologies
Sungrow Power Supply
Sofar Solar
Solis Inverters
Solplanet
Sineng Electric
SolarEdge Technologies

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of utility-scale PV inverter reached USD 13.3 billion in 2024 and is set to grow at a 6.6% CAGR from 2025 to 2034, driven by the increasing adoption of clean energy and large-scale renewable integration.

The < 1500 V voltage segment is anticipated to grow at a CAGR of over 6.5% through 2034, led by demand for inverters with module-level MPPT, streamlined installation, and enhanced monitoring capabilities.

The U.S. market is projected to exceed USD 4.6 billion by 2034, supported by government policies like the Investment Tax Credit (ITC) and a shift toward decentralized energy grids.

Key players in the market include Canadian Solar, Delta Electronics, Eaton, Fimer Group, GoodWe, GE Vernova, Huawei Technologies, Sungrow Power Supply, Sofar Solar, Solis Inverters, Solplanet, Sineng Electric, and SolarEdge Technologies.