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Increasing shift toward adoption of decentralized energy systems coupled with rising integration of energy storage technologies, such as lithium-ion batteries to enable energy self-consumption, demand response, and backup power capabilities for commercial applications will strengthen the industry landscape. Expansion of smart grid infrastructure, driven by the digitization of the energy sector and the deployment of advanced metering, monitoring, and control systems is augmenting the product demand.
ABB, APsystems, Enphase Energy, GoodWe Power Supply Technology Co., Ltd., Hoymiles, Sparq System, Siemens AG, Solax Power, and Yotta Energy among others.
China commercial micro inverter industry size will surpass USD 87 million by 2032, fueled by rapid industrialization, significant investments in renewable energy, and strong government policies supporting solar power adoption.
The three phase segment in the Asia Pacific commercial micro inverter industry will garner more than USD 111 million by 2032, due to its superior efficiency and ability to handle higher power loads, making it ideal for large-scale commercial installations.
Asia Pacific market for commercial micro inverter was crossed USD 34.2 million in 2023 and will exhibit 14.5% CAGR from 2024 to 2032, attributed to increasing investments in renewable energy, government incentives, and the rising demand for energy-efficient solutions.