Commercial & Industrial On Grid PV Inverter Market Size - By Product (String, Micro, Central), By Nominal Output Voltage (230 - 400 V, 400 - 600 V, > 600 V), & Forecast, 2025 – 2034

Commercial & Industrial On Grid PV Inverter Market Size

The global commercial & industrial on grid PV inverter market was valued at USD 7.6 billion in 2024 and is estimated to grow at a CAGR of 12.9% from 2025 to 2034. It is a power conversion device specifically designed to connect solar photovoltaic (PV) systems to the electrical grid in commercial and industrial settings. These inverters convert the direct current generated by solar panels into alternating current compatible with the local grid standards, enabling the seamless integration of solar power into the existing energy infrastructure.
 

Rising electricity prices challenge the growth of various commercial & industrial settings, promoting them to seek cost-effective energy solutions, thereby influencing the product adoption. Growing pressure on the sector to adopt sustainable practices to meet environmental regulations and fulfill CSR goals will foster the product penetration.
 

Increasing favorable policies, tax benefits, and subsidies for renewable energy adoption will encourage the installation of on grid PV systems in the sector, driving the business outlook. Rising investments by key players and researchers in boosting the adoption of modern inverters offering efficiency, better reliability, and advanced features such as real-time monitoring, remote diagnostics, and smart grid compatibility will bolster the business landscape.
 

Commercial & Industrial On Grid PV Inverter Market Trends

Decreasing costs of PV modules, inverters, and associated components in line with rising prioritization of energy reliability to prevent operational disruptions will complement the product growth. Rising proliferation of IoT and AI technologies, allowing businesses to integrate on grid PV inverters into energy management systems, enabling precise energy tracking, load optimization, and seamless interaction with other grid elements, thereby augmenting the product expansion.
 

Commercial & Industrial On Grid PV Inverter Market Analysis

Based on product, the central segment is anticipated to cross over USD 13.5 billion by 2034, due to their ability to manage centralized power conversion, which reduces the complexity of large-scale installations. Rising demand for cost-effective solutions with high durability and longevity in harsh environmental conditions often encountered in industrial settings will propel the product adoption. Increasing adoption of inverters offering high scalability options for expanding operations without the need for redesigning the system architecture will complement the product demand.
 

Based on nominal output voltage, the > 600 V segment is set to grow at a CAGR of over 13% through 2034, due to increased demand for high voltage for high-capacity applications enabling efficient power transmission over longer distances without significant energy losses. Growing adoption of high voltage systems due to their reduced cost and improved efficiency will foster the product growth in businesses seeking to maximize their return on investment (ROI) from solar installations. Furthermore, rising focus on energy security and uninterrupted operations will fuel the systems adoption, enabling businesses to meet their energy needs reliably, even during peak load times, while minimizing dependence on external energy sources.
 

The U.S. commercial & industrial on grid PV inverter market is likely to exceed USD 4.2 billion by 2034. Rising energy prices in the U.S. are pushing commercial & industrial users to explore cost-effective alternatives, creating lucrative opportunities for the product adoption. Frequent grid disruptions due to extreme weather events will motivate businesses to adopt advanced systems with backup capabilities, ensuring uninterrupted operations, strengthening the business statistics. Additionally, presence of large rooftop and ground spaces in industrial parks and large commercial establishments will make the product an attractive option.

In Europe, increasing European Union’s Renewable Energy Directive and national-level net-zero commitments are compelling businesses to adopt renewable energy solutions, fostering the product penetration. Increasing high quality research activities including high-efficiency panels and smart inverters, coupled with growing green financing options offering easy access to financing for renewable energy projects will bolster the industry landscape.

Commercial & Industrial On Grid PV Inverter Market Share

Eminent players are expanding their offerings to address diverse commercial & industrial needs by introducing higher capacity inverters for large-scale commercial facilities and developing modular solutions for businesses with varying energy requirements, ensuring scalability. Key players are collaborating with stakeholders and grid operators across the solar value chain to streamline project execution and ensure compliance with local regulations and smooth system integration. Furthermore, players are targeting emerging markets with growing industrialization, particularly in Asia Pacific, Latin America, and Africa to reduce logistics costs and comply with region-specific policies.
 

Commercial & Industrial On Grid PV Inverter Market Companies

Eminent players operating in the commercial & industrial on grid PV inverter industry are:

• Delta Electronics
• Fronius International
• GoodWe
• Growatt New Energy Technology
• Huawei Technologies
• SMA Solar Technology
• Sungrow Power Supply
• Solaredge Technologies
• Solis Inverters
• V-Guard Industries
   

Commercial & Industrial On Grid PV Inverter Industry News:

• In October 2024, Solis showcased its energy storage and smart energy solutions at the Renewable Energy India Expo 2024. The company presented high-performance solar inverters, including 8kW, 15kW, and 50kW hybrid models for residential and commercial use, as well as 3kW, 5kW, 150kW, and 350kW on grid inverters for residential, commercial, and utility scale applications. Solis also introduced its latest EV chargers and advanced monitoring accessories, emphasizing integrated smart energy solutions.
   
• In October 2024, Luminous Power Technologies showcased its advanced energy storage solutions and project management expertise at the Renewable Energy India Expo 2024 in India. The display featured products including Solarverter, Hybrid TX 5KVA, NXI 150, NXI 3110, 3-Phase Solarverter, Solarverter PRO, LPTT12200H battery, lift inverters, and bi-facial panels. These offerings cover capacities ranging from 500 VA to 10 KVA for off grid solutions and 3 kW to 110 kW for on grid systems. Batteries and solar panels were also highlighted, catering to residential, commercial, and industrial energy needs with cutting-edge technology.
   

This commercial & industrial on grid PV inverter market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue and volume in “(USD Billion & MW)” from 2021 to 2034, for the following segments:

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Market, By Product

• String
• Micro
• Central

Market, By Nominal Output Voltage

• 230 - 400 V
• 400 - 600 V
• > 600 V

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • Italy
  • Poland
  • Netherlands
  • Austria
  • UK
  • France
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
• Middle East & Africa
  • Israel
  • Saudi Arabia
  • UAE
  • South Africa
• Latin America
  • Brazil
  • Mexico
  • Chile