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Commercial Micro Inverter Market Trends

Report ID: GMI9522
Published Date: May 2024
Report Format: PDF

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Commercial Micro Inverter Market Trends

Rising manufacturers investments in developing advanced technology to introduce innovative features such as advanced monitoring capabilities, enhanced power conversion efficiency, and compatibility with emerging technologies will accelerate the business statistics. Shifting focus of commercial buildings towards the adoption of decentralized energy systems driven by grid reliability concerns, energy independence, and cost savings is set to drive the market outlook.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of commercial micro inverter was reached USD 245.8 million in 2023 and is expected to register 12.5% CAGR from 2024 to 2032, owing to offering advantages such as enhanced performance, flexibility, monitoring capabilities, scalability, and safety features.

Commercial micro inverter industry from the three phase segment is expected to reach over USD 680 million by 2032 due to their improved energy harvest, increased system efficiency, and enhanced reliability in line with advanced monitoring and control features.

Europe commercial micro inverter industry is projected to surprass USD 377 million by 2032 due to the ambitious renewable energy targets, aiming to achieve carbon neutrality by 2050 in the region.

Growatt New Energy, Hoymiles, NingBo Deye Inverter Technology Co., Ltd., Northern Electric Power Technology Inc., SolarEdge Technologies, Sparq System, TSUNESS Co., Ltd., and Yotta Energy, are some of the major commercial micro inverter companies worldwide.