Commercial & Industrial PV Inverter Market - By Product, By Phase, By Connectivity, 2025 - 2034

Commercial & Industrial PV Inverter Market Size

The global commercial & industrial PV inverter market size was valued at USD 17 billion in 2024 and is estimated to grow at a CAGR of 12% from 2025 to 2034. Increasing electricity costs and rising volatility in energy costs will drive the demand for PV inverter technology in industrial and commercial applications. Solar PV system usage ensures long-term cost savings, and therefore, inverters are a critical component of efficient energy management. Rising inverter integration with building energy management systems will further drive industry expansion.

Growing use of high-power solar inverters by companies to address growing energy requirements in C&I installations is expected to drive market growth. In November 2024, SOFAR reported surpassing 5 GW of cumulative solar PV inverter shipments to India, shipping over 1.3 GW during the first half of 2024 alone. This success highlights the growing adoption of advanced next-generation inverter technologies across industrial and commercial sectors, which is expected to drive growth in the solar PV inverter market.
 

Increasing governments and organizations' ambitious renewable energy adoption targets to fight climate change will drive product adoption. Ongoing introduction of supportive policies and incentives, including net metering, to encourage the adoption of solar power will positively influence the industry growth. Additionally, growing awareness of environmental issues and increasing companies' push towards solar power to reduce the issues and their carbon footprint will enhance the product demand.
 

The availability of commercially viable, high-efficiency, low-voltage inverters is anticipated to stimulate product uptake in commercial and industrial sectors. In October 2024, Growatt introduced the MAX 150KTL3-X LV inverter at the Renewable Energy India Expo, featuring advanced MPPTs, a higher DC/AC ratio, and compatibility with high-wattage panels. Furthermore, the ongoing development of application-specific inverter technologies will accelerate product penetration across commercial and industrial PV inverter markets.
 

Rising power demand across commercial and industrial buildings, along with the need to lower electricity costs and enhance energy autonomy, is expected to propel product deployment. A growing focus on peak load management and improved operational efficiency through self-generation and grid-connected systems will further influence inverter adoption. Additionally, increasing land and infrastructure costs will stimulate the use of compact, high-performance inverters, thereby supporting the growth of the commercial and industrial PV inverter market.
 

Tariffs imposed by the Trump administration on imported solar equipment, including inverters and panels, are expected to hinder market growth. These trade measures will likely to raise procurement costs for commercial and industrial PV developers, potentially leading to cost overruns and project delays. Furthermore, a limited supply of competitively priced, high-efficiency inverters may disrupt supply chains, thereby restricting product deployment and affecting future market expansion.
 

Commercial & Industrial PV Inverter Market Trends

• The adoption of hybrid energy storage solutions tailored for commercial and industrial applications is set to drive market growth. In May 2024, Growatt introduced the ‘WIT 50-100K-HU’, an industrial-grade hybrid energy storage solution offering 10kW on/off high output along with a 10ms UPS switchover capability. Moreover, the rising demand for reliable backup power across offices and factories will further support the adoption of such high-performance systems.
   
• Increasing integration of energy storage solutions with PV systems to enhance energy self-consumption, improve grid stability, and optimize energy management strategies, fueling the product expansion. The rising emergence of smart inverters in commercial settings equipped with enhanced grid support functionalities, such as voltage regulation, frequency control, and power factor correction, is improving product traction, thereby driving the business outlook.
   
• Flexible system design for complicated solar installations is anticipated to impact the adoption of products. In January 2025, Fronius released the 125 kW Argeno inverter with silicon carbide technology with an up-to 99.1% peak efficiency. It accommodates multiple MPPTs to maximize energy yield for intricate systems. Moreover, its compatibility with various Fronius products, including energy storage systems, is anticipated to stimulate market growth.
   
• The rising shift of businesses towards decentralized energy systems and distributed generation models to diversify their energy sources, reduce reliance on centralized power plants, is favoring the product deployment. Growing use of solar PV systems across industries such as manufacturing, retail, hospitality, healthcare, and agriculture is generating strong opportunities for the product to meet the targeted needs and specifications of these businesses.
   

Commercial & Industrial PV Inverter Market Analysis

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• Based on the product, the industry is segmented into string, micro, and central categories. The market was valued at USD 11.4 billion, USD 14.1 billion, and USD 17 billion in 2022, 2023, and 2024, respectively.
   
• The string inverter market is expected to grow at a CAGR of over 12% between 2025 and 2034, influenced by ongoing product development and the need for more efficient solar energy solutions. In April 2025, CPS America launched the "Gonzo" 125-kW/261-kWh C&I BESS All-in-One solution, combining inverters and batteries for simplified commercial installations. The launch is in addition to products such as the 350-kW string inverter, which allows for greater scalability in commercial and industrial applications.
   
• The global market for central inverters is anticipated to be over USD 19.8 billion by 2034, due to the growing demand for cost-effective and efficient solutions for large-scale solar power plants. The shift towards larger capacity solar systems and enhanced features such as better monitoring and control will drive the industry expansion. Moreover, increasing investments in renewable energy projects will contribute to the product adoption.
   
• The microinverter segment is expected to grow at a rate of more than 11.2% from 2025 to 2034 due to the increasing demand for distributed solar systems and scalability in C&I applications. In October 2023, Hoymiles debuted its HMT-2000-4T-208-NA microinverter for commercial and industrial projects that can handle high-powered PV panels with a maximum output of 2000 VA. The 4-in-1 structure provides increased cost efficiency and easier installation. Additionally, the demand for energy efficiency in commercial projects will continue to support product adoption.
   

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• Based on phase, the commercial & industrial PV inverter market is segmented into single phase and three phase. The three phase segment held 95.5% market share in 2024 due to the growing adoption of next-generation grid-forming inverters in utility-scale rooftop solar and ground-mount C&I segments. In September 2022, APsystems launched the QT2 three phase microinverter, which can support high-power modules and deliver 1,800W (480V) and 1,728W (208V) output. Additionally, increasing emphasis on smart energy management will augment product demand.
   
• Single phase is set to grow at a CAGR of over 13.8% by 2034. Flexibility of the single phase, making essay integration into existing electrical systems commonly found in small businesses, retail stores, and offices, without the need for complex electrical infrastructure upgrades or modifications, is propelling the industry projections. Furthermore, cost effectiveness and space efficiency, suitable for installations where space is limited or constrained, are additional factors favoring the market proliferation.
   

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• The U.S. commercial & industrial PV inverter market was valued at USD 2.2 billion, USD 2.5 billion, and USD 2.9 billion in 2022, 2023, and 2024, respectively. As of 2024, North America holds a market share of 17.3%, which is expected to improve further by 2034.
   
• Rising domestic production capabilities and faster regional product availability will complement the PV inverter adoption in C&I applications in the U.S. In July 2024, Enphase Energy began shipping its IQ8P-3P commercial three phase microinverters from its Texas factory, reducing lead times and satisfying local content needs. The inverters support 208 V installations and modules up to 640 W. Furthermore, federal incentives for homegrown clean energy products will drive market demand.
   
• European market is anticipated to grow over 13.7% by 2034. Regions ambitious renewable energy targets, including the European Union's Renewable Energy Directive as part of its commitment to combat climate change and transition towards a low-carbon economy, creating positive growth prospects. Favorable net metering policies allow businesses to export surplus solar energy to the grid and receive compensation or credits for the excess generation is encouraging the product deployment.
   
• The Asia Pacific industry is estimated to be valued at more than USD 16 billion by 2034, driven by escalating investments in large-scale solar installations across industrial hubs and innovative product launches. In April 2025, Sunora Solar launched the SUN-10HL-G4, a 15 kW three phase inverter with 98.5% efficiency at RenewX 2025 in Chennai, enhancing C&I project reliability. Additionally, increasing deployment of smart inverters for grid optimization will augment market expansion.
   

Commercial & Industrial PV Inverter Market Share

• The top 5 companies, including Canadian Solar, Delta Electronics, Darfon Electronics, GoodWe, and Growatt New Energy, account for around 43.2% market share. These firms engage in the development of production capacities, the introduction of high-efficiency inverters, and the expansion of global distribution channels to consolidate their market positions. They also invest in R&D of smart and grid-friendly inverter technology that supports improved energy management and reliability for high-power commercial and industrial-sized solar installations.
   
• Prominent players take strategic collaborations with EPC companies and solar developers to win large-scale C&I projects. They also focus on localized manufacturing and after-sales services in major markets, allowing for quicker deployment, improved service assurance, and greater penetration in high-growth commercial and industrial solar markets.
   

Commercial & Industrial PV Inverter Market Companies

• Canadian Solar, through its subsidiary CSI Solar, is actively offering integrated solar solutions such as PV inverters, turnkey EPC solutions, and battery storage under its e-STORAGE brand. In Q4 2024, the company's revenues stood at USD 1.5 billion. It continues to expand its inverter and storage solutions to cater to utility-scale and commercial-scale solar projects.
   
• Eaton is expanding its position in the PV inverter industry by creating next-generation inverter technologies that include energy storage systems to enhance grid stability and solar adoption. In 2024, Eaton registered revenues of USD 24.9 billion, which demonstrates its extensive involvement in power management and solar infrastructure development.
   

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

• Canadian Solar
• Delta Electronics
• Darfon Electronics
• Eaton
• Fimer Group
• Ginlong Technologies
• GoodWe
• Growatt New Energy
• Huawei Technologies
• Schneider Electric
• SMA Solar Technology
• Sungrow
• SolarEdge Technologies
• Sineng Electric
• Tabuchi Electric
   

Commercial & Industrial PV Inverter Industry News:

• In June 2024, Hoymiles launched the world's first 8-in-1 super microinverter, the MIT-5000-8T Series, at SNEC PV Expo in Shanghai. The 5,000 W solution targets industrial and large commercial applications with a 25-year maintenance-free lifespan and DC-side voltage below 120 V for enhanced fire safety, marking an important breakthrough in the commercial and industrial PV inverter market.
   
• In December 2023, Chinese PV inverter and battery maker Sineng Electric, with a commercial and residential application focus, has gone past 10 GW of cumulative solar PV inverter shipments to India. The firm set up a 3 GW manufacturing facility in Bangalore in 2018 and ramped up its annual production capacity to 10 GW in 2021.
   

Commercial & Industrial 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

• Micro
• Central

Market, By Phase

• Single phase
• Three phase

Market, By Connectivity

• Standalone
• On grid

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