Asia Pacific Three Phase Micro Inverter Market Size - By Connectivity (Standalone, On Grid), By Application (Residential, Commercial & Industrial) & Forecast, 2024 – 2032

Asia Pacific Three Phase Micro Inverter Market Size

Asia Pacific Three Phase Micro Inverter Market size was valued at USD 22.3 million in 2023 and is anticipated to grow at a CAGR of 13.2% between 2024 and 2032. It is a type of power inverter specifically designed for converting the DC output from solar photovoltaic panels into AC suitable for three phase electrical grids. These are particularly advantageous for commercial and industrial solar installations, providing benefits such as improved energy harvest, enhanced system reliability, simplified installation, and better monitoring and maintenance capabilities.
 

Rising technological advancements and innovations including high power ratings, better maximum power point tracking capabilities, and improved reliability will augment the industry growth. Growing government policies and incentives to encourage the deployment of solar energy systems in countries like China, India, Japan, and Australia are driving the product adoption.

Rising adoption of micro inverters with substantial economic benefits, including reduced installation costs and improved energy yield coupled with high flexibility particularly beneficial for commercial and industrial applications where energy demand may vary are creating opportunities for product penetration. Increasing energy demand and the need for reliable power solutions in commercial and industrial sectors are boosting investments in solar power to achieve energy independence and reduce operational costs thereby propelling product demand. Key features offering enhanced monitoring capabilities and ensuring continuous power supply even in the absence of grid connectivity will contribute to the business scenario.
 

Asia Pacific Three Phase Micro Inverter Market Trends

Rising integration of smart grid technologies in the multi-phase system coupled with shifting focus towards energy security and independence will complement the product demand, enhancing the reliability and efficiency of solar installations.,. Growing emphasis on environmental and economic sustainability in line with continuous advancements in manufacturing processes and technology to make the system more efficient and cost-effective will lead to market growth.
 

Asia Pacific Three Phase Micro Inverter Market Analysis

Based on connectivity, the market is segmented into on grid and standalone. The on grid segment is anticipated to cross USD 44.8 million by 2032, owing to increasing reliability and stability of electrical grid in the region. Improving grid infrastructure with consistent and stable power supply, make it viable for residential, commercial, and industrial sectors to connect their solar PV systems thereby boosting the market growth. Furthermore, rising demand for connectivity offering economic benefits with reduced electricity bills by allowing consumers to offset their energy consumption with solar power is influencing the industry statistics.
 

Based on application the Asia Pacific three phase micro inverter market is segmented into commercial & industrial  and residential. Commercial & industrial segment is set to record a CAGR of more than 12.9% through 2032. Increasing electricity consumption in commercial setups comprising office buildings, retail stores, hotels, and manufacturing facilities is stimulating the product demand. Improving stringent environmental regulations and growing corporate emphasis on sustainability and CSR are creating opportunities for market growth.
 

The China three phase micro inverter market is anticipated to surpass USD 51 million by 2032. Rising policies and incentives by the government to promote renewable energy deployment coupled with rising initiatives including feed-in tariffs, subsidies for solar installations, tax incentives, and regulatory frameworks that facilitate grid integration will complement the industry landscape. Presence of strong manufacturing capabilities and technological advancements in the solar industry in line with continuous innovation in microinverter design, efficiency improvements, and integration with smart grid technologies will drive the business scenario.
 

In the U.S. increasing environmental consciousness and commitments to reduce greenhouse gas emissions propel demand for renewable energy solutions thereby improving multi-phase inverters adoption. lower carbon footprint, improved energy efficiency, and ambitious national and international climate goals will strengthen the industry growth. Furthermore, continuous improvement in product offerings and cost competitiveness among key manufacturers in the region will propel the business landscape.
 

Asia Pacific Three Phase Micro Inverter Market Share

Eminent market players are focusing on continuous innovation to enhance the performance, efficiency, and reliability of three-phase microinverters by investing heavily in research and development to introduce advanced features such as maximum power point tracking (MPPT), smart grid integration capabilities, enhanced thermal management systems, and improved durability. Key players are expanding their product portfolios by offering a wide range of products with varying power ratings, configurations, and compatibility with different solar panel technologies to strengthen their market presence and capture a larger share in the region.
 

Asia Pacific Three Phase Micro Inverter Market Companies

Eminent players operating in the Asia Pacific three phase micro inverter industry are:

• APsystems
• Enphase Energy
• Growatt New Energy
• Hoymiles Power Electronics Inc
• KEHUA Tech
• NingBo Deye Inverter Technology Co., Ltd.
• OutBack Power Technologies
• Sensata Technologies, Inc.
• SMA Solar Technology AG
• Solax Power
• Sparq System
• Yotta Energy
   

Asia Pacific Three Phase Micro Inverter Industry News

• In June 2024, Chinese microinverter manufacturer Hoymiles introduced the largest and most efficient three-phase microinverter at the SNEC tradeshow in Shanghai, China. It boasts a maximum input voltage of 140 V and includes four Maximum Power Point Trackers (MPPTs), with each MPPT having its own input. This further marks a significant advancement in solar technology, offering enhanced efficiency and reliability for large-scale solar installations.
   
• In October 2023, SPARQ Corp announced that its subsidiary, SPARQ Systems Inc., received regulatory certification for its Q2000 QUAD microinverter. The product is the industry's first microinverter with highest power rating, capable of generating electrical energy from four photovoltaic panels of 550W+ each without any power clipping under any condition. This certification marks a significant milestone for SPARQ Corp, positioning the Q2000 QUAD three-phase microinverter as a groundbreaking solution in the solar industry.
   

Asia Pacific three phase micro inverter market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue and volume in “USD Million & MW” from 2021 to 2032, for the following segments:

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Market, By Connectivity

• Standalone
• On Grid

Market, By Application

• Residential
• Commercial & Industrial

The above information has been provided for the following countries:

• China
• Australia
• India
• Japan
• South Korea