Utility Scale String Inverter Market By Product Type (Central Inverters, String Inverters, Hybrid Inverters), By Application (Solar Power Plants, Commercial & Industrial Installations, Residential Installations), By End-User Industry (Power Generation, Utilities, Independent Power Producers, Commercial Enterprises), and By Region; Global Insights & Forecast (2023– 2030)

As per Intent Market Research, the Utility Scale String Inverter Market was valued at USD 5.5 Billion in 2024-e and will surpass USD 10.1 Billion by 2030; growing at a CAGR of 10.8% during 2025-2030.

The utility scale PV inverter market is a critical component of the solar energy ecosystem, facilitating the conversion of direct current (DC) electricity generated by solar panels into alternating current (AC) to be fed into the grid. With the growing adoption of solar energy worldwide, the demand for inverters, particularly for large-scale solar installations, is on the rise. The market is characterized by various product types, applications, and end-user industries, each contributing to the overall growth. This segment will explore the largest and fastest-growing subsegments within each category, providing a comprehensive understanding of the trends driving market expansion.

Central Inverters Segment Is Largest Owing to Efficiency in Large-Scale Installations

Among the product types, central inverters dominate the utility scale PV inverter market. Central inverters are typically used in large solar power plants due to their ability to handle higher capacities and reduce the overall cost per megawatt. These inverters are designed to manage the entire plant’s energy conversion, making them an efficient solution for large-scale solar projects. Their reliability, high power capacity, and cost-effective nature position them as the preferred choice for solar power plants, particularly in regions with substantial solar energy investments.

The growing shift towards utility-scale solar power generation has further solidified the dominance of central inverters. Their ability to maintain stable performance even under varying environmental conditions makes them particularly well-suited for large solar installations in regions with high sun exposure. As a result, central inverters are expected to remain the largest subsegment in the market, driven by the increasing demand for solar energy and the need for high-efficiency power conversion solutions.

Solar Power Plants Application Is Fastest Growing Owing to Expanding Utility-Scale Solar Projects

In terms of application, solar power plants represent the fastest-growing segment in the utility scale PV inverter market. Solar power plants are large-scale installations designed to generate electricity from solar energy, and they require inverters to convert the DC power generated by solar panels into usable AC power for grid distribution. As countries and regions continue to prioritize renewable energy, the number of utility-scale solar power plants is increasing, driving the demand for utility scale inverters. These plants contribute significantly to the global energy transition, and the development of new projects is accelerating, particularly in regions with abundant solar resources.

The growth of solar power plants is supported by government policies, financial incentives, and the declining cost of solar technology, making large-scale solar energy projects more viable. This trend is expected to continue, with an increasing number of utility-scale solar farms being developed across the globe. As a result, the demand for utility-scale PV inverters used in solar power plants is projected to grow at a rapid pace, positioning this application as the fastest-growing segment in the market.

Power Generation End-User Industry Is Largest Due to Renewable Energy Initiatives

The power generation industry represents the largest end-user segment for utility scale PV inverters. As the world shifts toward cleaner and more sustainable energy sources, power generation companies are increasingly investing in renewable energy, including solar power. PV inverters are essential for solar power plants, and their role in converting solar energy into grid-compatible electricity is critical to the success of renewable energy projects. The demand for utility scale PV inverters in the power generation industry is expected to continue growing, driven by the expansion of solar energy as a dominant power source.

Government policies and international agreements focused on reducing carbon emissions and increasing the share of renewable energy in the power generation mix are also contributing to the growth of this segment. With increasing global investments in renewable energy infrastructure and a continued focus on sustainable development, the power generation industry is likely to remain the largest end-user for utility scale PV inverters.

Asia-Pacific Region Is Fastest Growing Due to Increasing Solar Installations

Regionally, the Asia-Pacific market for utility scale PV inverters is experiencing the fastest growth. This region is home to some of the largest solar markets globally, including China and India, which are investing heavily in renewable energy infrastructure. The rising energy demand, combined with the government’s focus on solar energy, makes the Asia-Pacific region a significant driver of growth in the utility scale PV inverter market. Countries in this region are rapidly expanding their solar energy capacities, leading to an increased need for efficient inverters to support large-scale solar projects.

The competitive advantage of the Asia-Pacific region lies in its abundant sunlight, favorable government policies, and relatively low installation costs, all of which are fueling the rapid growth of solar power plants. This has made the region a hotspot for utility-scale solar projects, driving the demand for utility scale PV inverters. As a result, the Asia-Pacific region is expected to continue its rapid growth, surpassing other regions in terms of market demand and installations.

Leading Companies and Competitive Landscape

The utility scale PV inverter market is highly competitive, with several global players leading the industry. Companies like Sungrow Power Supply Co. Ltd., Huawei Technologies Co., Ltd., ABB Ltd., FIMER S.p.A., and Siemens AG are among the key players shaping the market. These companies offer a variety of inverters designed to meet the needs of utility-scale solar projects, including central inverters, string inverters, and hybrid inverters. The competitive landscape is characterized by continuous innovation, with companies focusing on improving the efficiency, reliability, and cost-effectiveness of their products.

In addition to product advancements, strategic partnerships, mergers, and acquisitions are playing a key role in shaping the competitive dynamics of the market. Companies are increasingly collaborating with solar energy developers and utilities to expand their market presence and provide integrated solutions for large-scale solar installations. As the demand for solar energy continues to rise, the competitive landscape is expected to evolve, with both established players and new entrants vying for a share of the growing market.

 

Recent Developments:

  • Sungrow Power Supply Co. Ltd. Launches New Utility-Scale String Inverter Sungrow recently unveiled a new generation of utility-scale string inverters designed to improve energy efficiency and reduce installation time in large solar power plants.
  • ABB announced a strategic partnership with several solar energy developers to supply advanced inverters for upcoming utility-scale solar projects in North America.
  • Huawei secured a deal with a major utility company in India to provide high-efficiency string inverters for a large utility-scale solar plant.
  • FIMER has opened a new manufacturing facility in Europe to meet the growing demand for utility-scale string inverters, enhancing its supply chain capabilities.
  • Siemens AG secured a multi-million-dollar contract to supply its state-of-the-art string inverters for large solar farms in the Middle East as part of a drive to increase renewable energy capacity in the region.

List of Leading Companies:

  • Sungrow Power Supply Co. Ltd.
  • ABB Ltd.
  • FIMER S.p.A.
  • Huawei Technologies Co., Ltd.
  • Siemens AG
  • Schneider Electric
  • Enphase Energy, Inc.
  • Canadian Solar Inc.
  • TMEIC Corporation
  • GoodWe Power Supply Technology Co., Ltd.
  • JA Solar Technology Co., Ltd.
  • KACO New Energy GmbH
  • LONGi Green Energy Technology Co., Ltd.
  • ReneSola Ltd.
  • Ingeteam S.A.

Report Scope:

Report Features

Description

Market Size (2024-e)

USD 5.5 Billion

Forecasted Value (2030)

USD 10.1 Billion

CAGR (2025 – 2030)

10.8%

Base Year for Estimation

2024-e

Historic Year

2023

Forecast Period

2025 – 2030

Report Coverage

Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments

Segments Covered

Utility Scale String Inverter Market By Product Type (Central Inverters, String Inverters, Hybrid Inverters), By Application (Solar Power Plants, Commercial & Industrial Installations, Residential Installations), By End-User Industry (Power Generation, Utilities, Independent Power Producers, Commercial Enterprises)

Regional Analysis

North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)

Major Companies

Sungrow Power Supply Co. Ltd., ABB Ltd., FIMER S.p.A., Huawei Technologies Co., Ltd., Siemens AG, Schneider Electric, Enphase Energy, Inc., Canadian Solar Inc., TMEIC Corporation, GoodWe Power Supply Technology Co., Ltd., JA Solar Technology Co., Ltd., KACO New Energy GmbH, LONGi Green Energy Technology Co., Ltd., ReneSola Ltd., Ingeteam S.A.

Customization Scope

Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements

1. Introduction

   1.1. Market Definition

   1.2. Scope of the Study

   1.3. Research Assumptions

   1.4. Study Limitations

2. Research Methodology

   2.1. Research Approach

      2.1.1. Top-Down Method

      2.1.2. Bottom-Up Method

      2.1.3. Factor Impact Analysis

  2.2. Insights & Data Collection Process

      2.2.1. Secondary Research

      2.2.2. Primary Research

   2.3. Data Mining Process

      2.3.1. Data Analysis

      2.3.2. Data Validation and Revalidation

      2.3.3. Data Triangulation

3. Executive Summary

   3.1. Major Markets & Segments

   3.2. Highest Growing Regions and Respective Countries

   3.3. Impact of Growth Drivers & Inhibitors

   3.4. Regulatory Overview by Country

4. Utility Scale String Inverter Market, by Product Type (Market Size & Forecast: USD Million, 2023 – 2030)

   4.1. Central Inverters

   4.2. String Inverters

   4.3. Hybrid Inverters

5. Utility Scale String Inverter Market, by Application (Market Size & Forecast: USD Million, 2023 – 2030)

   5.1. Solar Power Plants

   5.2. Commercial & Industrial Installations

   5.3. Residential Installations

6. Utility Scale String Inverter Market, by  End-User Industry (Market Size & Forecast: USD Million, 2023 – 2030)

   6.1. Power Generation

   6.2. Utilities

   6.3. Independent Power Producers (IPPs)

   6.4. Commercial Enterprises

7. Regional Analysis (Market Size & Forecast: USD Million, 2023 – 2030)

   7.1. Regional Overview

   7.2. North America

      7.2.1. Regional Trends & Growth Drivers

      7.2.2. Barriers & Challenges

      7.2.3. Opportunities

      7.2.4. Factor Impact Analysis

      7.2.5. Technology Trends

      7.2.6. North America Utility Scale String Inverter Market, by Product Type

      7.2.7. North America Utility Scale String Inverter Market, by Application

      7.2.8. North America Utility Scale String Inverter Market, by  End-User Industry

      7.2.9. By Country

         7.2.9.1. US

               7.2.9.1.1. US Utility Scale String Inverter Market, by Product Type

               7.2.9.1.2. US Utility Scale String Inverter Market, by Application

               7.2.9.1.3. US Utility Scale String Inverter Market, by  End-User Industry

         7.2.9.2. Canada

         7.2.9.3. Mexico

    *Similar segmentation will be provided for each region and country

   7.3. Europe

   7.4. Asia-Pacific

   7.5. Latin America

   7.6. Middle East & Africa

8. Competitive Landscape

   8.1. Overview of the Key Players

   8.2. Competitive Ecosystem

      8.2.1. Level of Fragmentation

      8.2.2. Market Consolidation

      8.2.3. Product Innovation

   8.3. Company Share Analysis

   8.4. Company Benchmarking Matrix

      8.4.1. Strategic Overview

      8.4.2. Product Innovations

   8.5. Start-up Ecosystem

   8.6. Strategic Competitive Insights/ Customer Imperatives

   8.7. ESG Matrix/ Sustainability Matrix

   8.8. Manufacturing Network

      8.8.1. Locations

      8.8.2. Supply Chain and Logistics

      8.8.3. Product Flexibility/Customization

      8.8.4. Digital Transformation and Connectivity

      8.8.5. Environmental and Regulatory Compliance

   8.9. Technology Readiness Level Matrix

   8.10. Technology Maturity Curve

   8.11. Buying Criteria

9. Company Profiles

   9.1. Sungrow Power Supply Co. Ltd.

      9.1.1. Company Overview

      9.1.2. Company Financials

      9.1.3. Product/Service Portfolio

      9.1.4. Recent Developments

      9.1.5. IMR Analysis

    *Similar information will be provided for other companies 

   9.2. ABB Ltd.

   9.3. FIMER S.p.A.

   9.4. Huawei Technologies Co., Ltd.

   9.5. Siemens AG

   9.6. Schneider Electric

   9.7. Enphase Energy, Inc.

   9.8. Canadian Solar Inc.

   9.9. TMEIC Corporation

   9.10. GoodWe Power Supply Technology Co., Ltd.

   9.11. JA Solar Technology Co., Ltd.

   9.12. KACO New Energy GmbH

   9.13. LONGi Green Energy Technology Co., Ltd.

   9.14. ReneSola Ltd.

   9.15. Ingeteam S.A.

10. Appendix

A comprehensive market research approach was employed to gather and analyze data on the Utility Scale String Inverter Market. In the process, the analysis was also done to analyze the parent market and relevant adjacencies to measure the impact of them on the Utility Scale String Inverter Market. The research methodology encompassed both secondary and primary research techniques, ensuring the accuracy and credibility of the findings.

Research Approach -

Secondary Research

Secondary research involved a thorough review of pertinent industry reports, journals, articles, and publications. Additionally, annual reports, press releases, and investor presentations of industry players were scrutinized to gain insights into their market positioning and strategies.

Primary Research

Primary research involved conducting in-depth interviews with industry experts, stakeholders, and market participants across the E-Waste Management ecosystem. The primary research objectives included:

  • Validating findings and assumptions derived from secondary research
  • Gathering qualitative and quantitative data on market trends, drivers, and challenges
  • Understanding the demand-side dynamics, encompassing end-users, component manufacturers, facility providers, and service providers
  • Assessing the supply-side landscape, including technological advancements and recent developments

Market Size Assessment

A combination of top-down and bottom-up approaches was utilized to analyze the overall size of the Utility Scale String Inverter Market. These methods were also employed to assess the size of various subsegments within the market. The market size assessment methodology encompassed the following steps:

  1. Identification of key industry players and relevant revenues through extensive secondary research
  2. Determination of the industry's supply chain and market size, in terms of value, through primary and secondary research processes
  3. Calculation of percentage shares, splits, and breakdowns using secondary sources and verification through primary sources

Bottom Up and Top Down -

Data Triangulation

To ensure the accuracy and reliability of the market size, data triangulation was implemented. This involved cross-referencing data from various sources, including demand and supply side factors, market trends, and expert opinions. Additionally, top-down and bottom-up approaches were employed to validate the market size assessment.

NA

Please state your requirements.

  • United States+1
  • United Kingdom+44
  • Albania (Shqipëri)+355
  • Algeria (‫الجزائر‬‎)+213
  • American Samoa+1
  • Andorra+376
  • Angola+244
  • Anguilla+1
  • Antigua and Barbuda+1
  • Argentina+54
  • Armenia (Հայաստան)+374
  • Aruba+297
  • Australia+61
  • Austria (Österreich)+43
  • Azerbaijan (Azərbaycan)+994
  • Bahamas+1
  • Bahrain (‫البحرين‬‎)+973
  • Barbados+1
  • Belarus (Беларусь)+375
  • Belgium (België)+32
  • Belize+501
  • Benin (Bénin)+229
  • Bermuda+1
  • Bhutan (འབྲུག)+975
  • Bolivia+591
  • Bosnia and Herzegovina (Босна и Херцеговина)+387
  • Botswana+267
  • Brazil (Brasil)+55
  • British Indian Ocean Territory+246
  • British Virgin Islands+1
  • Brunei+673
  • Bulgaria (България)+359
  • Burkina Faso+226
  • Burundi (Uburundi)+257
  • Cambodia (កម្ពុជា)+855
  • Cameroon (Cameroun)+237
  • Canada+1
  • Cape Verde (Kabu Verdi)+238
  • Caribbean Netherlands+599
  • Cayman Islands+1
  • Central African Republic (République centrafricaine)+236
  • Chad (Tchad)+235
  • Chile+56
  • China (中国)+86
  • Christmas Island+61
  • Cocos (Keeling) Islands+61
  • Colombia+57
  • Comoros (‫جزر القمر‬‎)+269
  • Congo (DRC) (Jamhuri ya Kidemokrasia ya Kongo)+243
  • Congo (Republic) (Congo-Brazzaville)+242
  • Cook Islands+682
  • Costa Rica+506
  • Côte d’Ivoire+225
  • Croatia (Hrvatska)+385
  • Cuba+53
  • Curaçao+599
  • Cyprus (Κύπρος)+357
  • Czech Republic (Česká republika)+420
  • Denmark (Danmark)+45
  • Djibouti+253
  • Dominica+1
  • Dominican Republic (República Dominicana)+1
  • Ecuador+593
  • Egypt (‫مصر‬‎)+20
  • El Salvador+503
  • Equatorial Guinea (Guinea Ecuatorial)+240
  • Eritrea+291
  • Estonia (Eesti)+372
  • Ethiopia+251
  • Falkland Islands (Islas Malvinas)+500
  • Faroe Islands (Føroyar)+298
  • Fiji+679
  • Finland (Suomi)+358
  • France+33
  • French Guiana (Guyane française)+594
  • French Polynesia (Polynésie française)+689
  • Gabon+241
  • Gambia+220
  • Georgia (საქართველო)+995
  • Germany (Deutschland)+49
  • Ghana (Gaana)+233
  • Gibraltar+350
  • Greece (Ελλάδα)+30
  • Greenland (Kalaallit Nunaat)+299
  • Grenada+1
  • Guadeloupe+590
  • Guam+1
  • Guatemala+502
  • Guernsey+44
  • Guinea (Guinée)+224
  • Guinea-Bissau (Guiné Bissau)+245
  • Guyana+592
  • Haiti+509
  • Honduras+504
  • Hong Kong (香港)+852
  • Hungary (Magyarország)+36
  • Iceland (Ísland)+354
  • India (भारत)+91
  • Indonesia+62
  • Ireland+353
  • Isle of Man+44
  • Israel (‫ישראל‬‎)+972
  • Italy (Italia)+39
  • Jamaica+1
  • Japan (日本)+81
  • Jersey+44
  • Jordan (‫الأردن‬‎)+962
  • Kazakhstan (Казахстан)+7
  • Kenya+254
  • Kiribati+686
  • Kosovo+383
  • Kuwait (‫الكويت‬‎)+965
  • Kyrgyzstan (Кыргызстан)+996
  • Laos (ລາວ)+856
  • Latvia (Latvija)+371
  • Lebanon (‫لبنان‬‎)+961
  • Lesotho+266
  • Liberia+231
  • Libya (‫ليبيا‬‎)+218
  • Liechtenstein+423
  • Lithuania (Lietuva)+370
  • Luxembourg+352
  • Macau (澳門)+853
  • Macedonia (FYROM) (Македонија)+389
  • Madagascar (Madagasikara)+261
  • Malawi+265
  • Malaysia+60
  • Maldives+960
  • Mali+223
  • Malta+356
  • Marshall Islands+692
  • Martinique+596
  • Mauritania (‫موريتانيا‬‎)+222
  • Mauritius (Moris)+230
  • Mayotte+262
  • Mexico (México)+52
  • Micronesia+691
  • Moldova (Republica Moldova)+373
  • Monaco+377
  • Mongolia (Монгол)+976
  • Montenegro (Crna Gora)+382
  • Montserrat+1
  • Morocco (‫المغرب‬‎)+212
  • Mozambique (Moçambique)+258
  • Myanmar (Burma) (မြန်မာ)+95
  • Namibia (Namibië)+264
  • Nauru+674
  • Netherlands (Nederland)+31
  • New Caledonia (Nouvelle-Calédonie)+687
  • New Zealand+64
  • Nicaragua+505
  • Niger (Nijar)+227
  • Nigeria+234
  • Niue+683
  • Norfolk Island+672
  • Northern Mariana Islands+1
  • Norway (Norge)+47
  • Oman (‫عُمان‬‎)+968
  • Palau+680
  • Palestine (‫فلسطين‬‎)+970
  • Panama (Panamá)+507
  • Papua New Guinea+675
  • Paraguay+595
  • Peru (Perú)+51
  • Philippines+63
  • Poland (Polska)+48
  • Portugal+351
  • Puerto Rico+1
  • Qatar (‫قطر‬‎)+974
  • Réunion (La Réunion)+262
  • Romania (România)+40
  • Russia (Россия)+7
  • Rwanda+250
  • Saint Barthélemy+590
  • Saint Helena+290
  • Saint Kitts and Nevis+1
  • Saint Lucia+1
  • Saint Martin (Saint-Martin (partie française))+590
  • Saint Pierre and Miquelon (Saint-Pierre-et-Miquelon)+508
  • Saint Vincent and the Grenadines+1
  • Samoa+685
  • San Marino+378
  • São Tomé and Príncipe (São Tomé e Príncipe)+239
  • Saudi Arabia (‫المملكة العربية السعودية‬‎)+966
  • Senegal (Sénégal)+221
  • Serbia (Србија)+381
  • Seychelles+248
  • Sierra Leone+232
  • Singapore+65
  • Sint Maarten+1
  • Slovakia (Slovensko)+421
  • Slovenia (Slovenija)+386
  • Solomon Islands+677
  • Somalia (Soomaaliya)+252
  • South Africa+27
  • South Korea (대한민국)+82
  • South Sudan (‫جنوب السودان‬‎)+211
  • Spain (España)+34
  • Sri Lanka (ශ්‍රී ලංකාව)+94
  • Sudan (‫السودان‬‎)+249
  • Suriname+597
  • Svalbard and Jan Mayen+47
  • Swaziland+268
  • Sweden (Sverige)+46
  • Switzerland (Schweiz)+41
  • Syria (‫سوريا‬‎)+963
  • Taiwan (台灣)+886
  • Tajikistan+992
  • Tanzania+255
  • Thailand (ไทย)+66
  • Timor-Leste+670
  • Togo+228
  • Tokelau+690
  • Tonga+676
  • Trinidad and Tobago+1
  • Tunisia (‫تونس‬‎)+216
  • Turkey (Türkiye)+90
  • Turkmenistan+993
  • Turks and Caicos Islands+1
  • Tuvalu+688
  • U.S. Virgin Islands+1
  • Uganda+256
  • Ukraine (Україна)+380
  • United Arab Emirates (‫الإمارات العربية المتحدة‬‎)+971
  • United Kingdom+44
  • United States+1
  • Uruguay+598
  • Uzbekistan (Oʻzbekiston)+998
  • Vanuatu+678
  • Vatican City (Città del Vaticano)+39
  • Venezuela+58
  • Vietnam (Việt Nam)+84
  • Wallis and Futuna (Wallis-et-Futuna)+681
  • Western Sahara (‫الصحراء الغربية‬‎)+212
  • Yemen (‫اليمن‬‎)+967
  • Zambia+260
  • Zimbabwe+263
  • Åland Islands+358

I have read the Terms & Conditions and Privacy Policy. I agree to its terms.

Report Buying Options