Commercial & Industrial PV Inverter Market Size - By Product (String, Micro and Central), By Phase (Single Phase and Three Phase) By Connectivity (Standalone, On Grid), By Nominal Output Voltage (230 - 400 V, 400 - 600 V), Regional Outlook & Forecast, 2024 – 2032
Commercial & Industrial PV inverter market size is anticipated to register over 13.8% CAGR from 2024 to 2032 driven by increasing adoption of solar energy solutions in the commercial and industrial sectors. For instance, in July 2024, Engepoli introduced Skylux Energy, an advanced energy system with solar capture technology. Lately, businesses are increasingly recognizing the financial benefits of investing in solar power, such as reduced energy costs and favorable returns on investments, spurred by declining solar panel prices and advancements in inverter technology.
Tax credits, subsidies, and feed-in tariffs for solar energy projects are also making investments in PV systems more attractive and financially viable for businesses. Rapid advancements in inverter technologies, such as increased efficiency, integration with energy storage systems, and enhanced grid compatibility, are turning PV inverters more effective and versatile for commercial and industrial applications.
The overall industry is classified into product, phase, connectivity, nominal output voltage, and region.
Based on product, the commercial & industrial PV inverter market from the central segment is slated to witness substantial growth during 2024-2032 due to its ability to handle large-scale solar power installations efficiently and cost-effectively. Central inverters are particularly well-suited for extensive commercial and industrial solar projects as they offer high power capacity and can manage significant amounts of solar energy with improved efficiency and reliability.
Commercial & industrial PV inverter industry from the on-grid connectivity segment is predicted to record a decent growth rate through 2032 as it allows businesses to seamlessly integrate their solar power systems with the existing electrical grid while ensuring a reliable and continuous power supply. On-grid PV inverters enable the sale of excess generated solar energy back to the grid, providing an additional revenue stream for companies and enhancing the financial viability of solar investments.
North America commercial & industrial PV inverter market is poised to depict notable CAGR over the forecast period. This is attributed to robust government incentives, increasing corporate sustainability initiatives, and advancements in solar technology. Federal and state-level policies, such as tax credits, grants, and renewable energy mandates incentivize businesses to invest in solar power systems. Technological advancements in PV inverters, including improved efficiency, enhanced grid compatibility, and better integration with energy storage systems will also contribute to the regional market growth.
- Chapter 1 Methodology & Scope
- 1.1 Research design
- 1.2 Base estimates & calculations
- 1.3 Forecast model
- 1.4 Primary research & validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
- 1.5 Market definitions
- Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis, 2021 – 2032
- Chapter 3 Industry Insights
- 3.1 Industry ecosystem
- 3.2 Regulatory landscape
- 3.3 Industry impact forces
- 3.3.1 Growth drivers
- 3.3.2 Industry pitfalls & challenges
- 3.4 Growth potential analysis
- 3.5 Porter's analysis
- 3.5.1 Bargaining power of suppliers
- 3.5.2 Bargaining power of buyers
- 3.5.3 Threat of new entrants
- 3.5.4 Threat of substitutes
- 3.6 PESTEL analysis
- Chapter 4 Competitive landscape, 2023
- 4.1 Introduction
- 4.2 Strategic dashboard
- 4.3 Innovation & technology landscape
- Chapter 5 Market Size and Forecast, By Product, 2021 – 2032 (USD Billion & MW)
- 5.1 Key trends
- 5.2 String
- 5.3 Micro
- 5.4 Central
- Chapter 6 Market Size and Forecast, By Phase, 2021 – 2032 (USD Billion & MW)
- 6.1 Key trends
- 6.2 Single phase
- 6.3 Three phase
- Chapter 7 Market Size and Forecast, By Connectivity, 2021 – 2032 (USD Billion & MW)
- 7.1 Key trends
- 7.2 Standalone
- 7.3 On Grid
- Chapter 8 Market Size and Forecast, By Nominal Output Voltage, 2021 – 2032 (USD Billion & MW)
- 8.1 Key trends
- 8.2 230 - 400 V
- 8.3 400 - 600 V
- Chapter 9 Market Size and Forecast, By Region, 2021 – 2032 (USD Billion & MW)
- 9.1 Key trends
- 9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
- 9.3 Europe
- 9.3.1 Germany
- 9.3.2 Italy
- 9.3.3 Poland
- 9.3.4 Netherlands
- 9.3.5 Austria
- 9.3.6 UK
- 9.3.7 France
- 9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 Australia
- 9.4.3 India
- 9.4.4 Japan
- 9.4.5 South Korea
- 9.5 Middle East & Africa
- 9.5.1 Israel
- 9.5.2 Saudi Arabia
- 9.5.3 UAE
- 9.5.4 South Africa
- 9.6 Latin America
- 9.6.1 Brazil
- 9.6.2 Mexico
- 9.6.3 Chile
- Chapter 10 Company Profiles
- 10.1 Canadian Solar
- 10.2 Delta Electronics, Inc.
- 10.3 Darfon Electronics Corp.
- 10.4 Eaton
- 10.5 Fimer Group
- 10.6 Ginlong Technologies
- 10.7 GoodWe
- 10.8 Growatt New Energy
- 10.9 Huawei Technologies Co., Ltd.
- 10.10 Schneider Electric
- 10.11 SMA Solar Technology AG
- 10.12 Sungrow
- 10.13 SolarEdge Technologies, Inc.
- 10.14 Sineng Electric Co., Ltd.
- 10.15 Tabuchi Electric Co., Ltd
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