Commercial & Industrial String Inverter Market Size - By Voltage (≤ 230V - 400 V, 400 V - 600 V, > 600 V), By Connectivity (Standalone, On Grid) 2025 – 2034

Commercial & Industrial String Inverter Market Size

The global commercial & industrial string inverter market was valued at USD 13.1 billion in 2024 and is estimated to grow at a CAGR of 10.6% from 2025 to 2034. It is a type of power conversion device designed to convert the direct current generated by solar photovoltaic (PV) panels into alternating current for use in commercial or industrial facilities. These inverters are typically used in medium- to large-scale solar installations and connect multiple strings of solar panels to a single inverter, making them cost-effective and efficient.
 

Increasing demand for cost-effective inverters with modular design, allowing flexible system scaling, and enabling businesses to expand their solar capacity without overhauling the entire setup will influence the product proliferation. Rising advancements in string inverter technology including multiple maximum power point trackers (MPPTs), integrated arc-fault circuit interrupters (AFCIs), and remote monitoring features to enhance system performance and safety will augment the product adoption.
 

Growing customer preference towards inverters aligning with stringent international and regional grid standards, such as those mandated in the U.S. and Europe will augment the product growth. Additionally, rising policies such as net metering, investment tax credits (ITC), and renewable energy incentives further encourage businesses to adopt solar systems equipped with string inverters.
 

Commercial & Industrial String Inverter Market Trends

Growing emphasis on reducing carbon footprints and adhering to corporate social responsibility (CSR) goals has pushed businesses to adopt renewable energy solutions, driving product penetration. Additionally, string inverter’s excellent efficiency and compatibility with various solar PV configurations will boost the product adoption achieving sustainability objectives in the sector. Increasing investments in developing inverters with advanced monitoring capabilities, offering real-time data on energy production, system health, and potential issues coupled with reduced downtime and maintenance costs will stimulate the business outlook.
 

Commercial & Industrial String Inverter Market Analysis

Based on voltage, the ≤ 230V - 400 V segment is anticipated to cross over USD 18.6 billion by 2034, due to string inverter's high compatibility with low voltage systems ensuring seamless integration without requiring additional voltage transformation equipment. Rising adoption of inverters with reduced infrastructure costs compared to higher-voltage systems, enabling businesses to utilize existing electrical networks without significant modifications, enabling quicker and more cost-efficient deployment will complement low-voltage product adoption. Growing focus on safety in commercial & industrial setups will uplift the product demand in the low voltage range.
 

Based on connectivity, the standalone segment is set to grow at a CAGR of over 12.6% through 2034. Rising businesses focus on energy independence to mitigate risks associated with grid outages and supply disruptions will stimulate the product demand. Growing industries operations in remote or rural locations where grid connectivity is either unavailable or prohibitively expensive will improve standalone inverter adoption. Furthermore, the connectivity eliminates the need for costly grid infrastructure and recurring utility expenses, providing significant cost savings over time leading to fostering the industry landscape.
 

The U.S. commercial & industrial string inverter market is likley to exceed over USD 3.4 billion by 2034. Rising government programs such as the Investment Tax Credit (ITC) and renewable energy mandates will propel the adoption of solar technologies in the U.S., driving the product adoption. Increasing shift towards a decentralized grid model, emphasizing distributed generation systems coupled with rising setting of ambitious sustainability targets to align with carbon reduction goals will complement the business scenario.
 

In Asia Pacific, rapid growth in commercial & industrial activities necessitates demand for reliable and scalable energy solutions, making string inverters a preferred choice. Expanding boom in rooftop solar adoption, driven by limited land availability and urban energy requirements will further improve industry growth. Increasing energy demand from southeast Asia, where grid infrastructure is underdeveloped, will boost demand for standalone and hybrid systems with string inverters to provide reliable electricity for commercial & industrial purposes.
 

Commercial & Industrial String Inverter Market Share

Eminent players are heavily investing in R&D to develop advanced string inverters tailored for commercial & industrial applications. Players are expanding their presence in emerging markets such as Asia Pacific and Africa, where industrialization and commercial solar adoption are growing. Furthermore, some manufacturers are bundling string inverters with complete solar solutions, including solar panels, energy management systems, and battery storage. This integrated approach simplifies installation for customers and enhances overall system performance.
 

Commercial & Industrial String Inverter Market Companies

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

• Delta Electronics
• Fronius International
• Growatt
• GoodWe
• Huawei Technologies
• Havells
• Schneider Electric
• Sofar Solar
• Sineng Electric
• SMA Solar Technology
• Sungrow
• SolarEdge Technologies
   

Commercial & Industrial String Inverter Industry News:

• In September 2023, SMA India launched the Sunny Tripower Core2 string solar inverter with 110 kW capacity, designed for commercial PV installations in India. This globally available inverter features built-in arc-fault circuit interrupter and DC overvoltage protection, highlighting its focus on safety.
   
• In April 2021, Delta has introduced the M250HV high-capacity string inverter for large-scale commercial solar plants. With 12 MPP trackers, 250 kW output power, and up to 99% efficiency, it offers flexible planning and simplifies installation, maintenance, and operation.
   

This commercial & industrial string 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 Voltage

• ≤ 230V - 400 V
• 400 V - 600 V
• > 600 V

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
  • Netherlands
  • UK
  • France
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
• Middle East & Africa
  • Israel
  • Saudi Arabia
  • UAE
  • South Africa
• Latin America
  • Brazil
  • Mexico
  • Chile