Home > Energy & Power > Electrical Equipment > Solar Parts and Components > Utility Scale String Inverter Market
The global utility scale string inverter market size was valued at USD 3 billion in 2024 and is estimated to grow at a CAGR of 10.9% from 2025 to 2034. It is a type of solar inverter used in large-scale photovoltaic (PV) systems, typically designed for utility power plants or large commercial solar installations. It converts the direct current electricity generated by solar panels into alternating current electricity, which is compatible with the electric grid.
Rising supportive government policies, decreasing costs, and increasing consumer awareness of eco-friendly technologies will propel the product adoption. Growing trend of self-generated electricity and advancements in distributed generation systems will provide new business opportunities within the solar PV industry, driving the product penetration.
Report Attribute | Details |
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Base Year: | 2024 |
Utility Scale String Inverter Market Size in 2024: | USD 3 Billion |
Forecast Period: | 2025 – 2034 |
Forecast Period 2025 – 2034 CAGR: | 10.9% |
2025 – 2034 Value Projection: | USD 8.9 Billion |
Historical Data for: | 2021 – 2024 |
No. of Pages: | 105 |
Tables, Charts & Figures: | 20 |
Segments covered: | Voltage, and Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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Growing investments in innovations by solar industry manufacturers to enhance the technology of utility-scale string inverters, focusing on improving efficiency and reliability will foster the business outlook. Furthermore, these efforts also include significant investments in research and development to create inverters equipped with built-in monitoring and diagnostic tools, which help optimize system performance and reduce maintenance costs. Increasing demand for inverters integrated with battery energy storage systems will further boost the product adoption of these inverters, driving positive growth in the market.