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Commercial on Grid Micro Inverter Market Share

Report ID: GMI11512
Published Date: Sep 2024
Report Format: PDF

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Commercial on Grid Micro Inverter Market Share

Eminent players are focusing heavily on R&D activities to enhance the efficiency and reliability of their microinverters. These companies aim to meet the evolving energy needs of commercial users by increasing power conversion efficiency and integrating smart grid capabilities. Many companies are expanding their operations into emerging regions in Asia Pacific, Latin America, and Africa, where commercial solar installations are gaining traction owing to favorable government policies and growing energy demand.

Commercial on Grid Micro Inverter Market Companies

Eminent players operating in the commercial on grid micro inverter industry are:

APsystems
Enphase Energy
Hoymiles
NingBo Deye Inverter Technology
Omnik New Energy
Sparq System
Solax Power
SMA Solar Technology
Sungrow Power
Yotta Energy

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The global commercial on grid micro inverter industry was valued at USD 175.3 million in 2023 and is expected to grow at a CAGR of 10.2% from 2024 to 2032.

The three-phase segment is expected to grow significantly, projected to exceed USD 343 million by 2032. Its popularity stems from its high-power capacity, ideal for commercial applications requiring larger energy loads, better load balancing, and reduced voltage fluctuations.

Europe's commercial on grid micro inverter market is anticipated to surpass USD 219.5 million by 2032. Key drivers include the region’s commitment to renewable energy via the European Green Deal, national mandates, and financial incentives such as feed-in tariffs, tax rebates, and subsidies.

Leading companies in the market include APsystems, Enphase Energy, Hoymiles, NingBo Deye Inverter Technology, Omnik New Energy, Sparq System, Solax Power, SMA Solar Technology, Sungrow Power, and Yotta Energy.