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Asia Pacific Commercial Micro Inverter Market Analysis
- Report ID: GMI9625
- Published Date: May 2024
- Report Format: PDF
Asia Pacific Commercial Micro Inverter Market Analysis
Based on phase, the three phase segment is anticipated to grow by more than USD 111 million by 2032 on account of their higher voltage and power levels accommodation, making them ideal for commercial scale PV installations with larger arrays. Furthermore, it supports businesses to seamlessly integrate their solar PV systems with the existing grid infrastructure, ensuring compatibility and stability, thereby fostering the product penetration.
Based on connectivity, the Asia Pacific commercial micro inverter market is segmented into standalone and on grid. Among these, the standalone segment is set to grow at a CAGR of over 19.5% through 2032. Rising demand for solutions offering remote monitoring and management of microinverter systems, allowing commercial operators to access real time performance data, track energy production, and diagnose issues from anywhere with internet connectivity will boost the product demand. Furthermore, its comprehensive asset management capabilities, including asset tracking, performance analysis, and predictive maintenance are the additional factors driving the industry statistics.
China commercial micro inverter market is projected to surpass USD 87 million by 2032. Rapid urbanization, industrialization, and commercialization in China have led to a surge in demand for electricity in commercial establishments, fueling the product adoption. Rising investments by key players in developing advanced products to improve efficiency, performance, and reliability will accelerate the business statistics.
In the U.S. rising federal and state-level policies, such as investment tax credits (ITC), net metering, and renewable portfolio standards (RPS) to encourage the adoption of solar PV technologies are anticipated to propel the industry growth. Furthermore, the presence of key players comprising of Enphase Energy, SolarEdge, and SMA Solar Technology offer advanced solutions with features comprising rapid shutdown, integrated energy storage, and smart grid capabilities to improve competition among microinverter manufacturers, will continue to drive continuous innovation and product diffe
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Asia Pacific Commercial Micro Inverter Market Scope
