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Commercial Single Phase Micro Inverter Market Trends

Report ID: GMI11132
Published Date: Aug 2024
Report Format: PDF

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Commercial Single Phase Micro Inverter Market Trends

Increasing global awareness of the need for sustainable energy solutions, businesses are under pressure to reduce their carbon footprints leading to boost product adoption for small scale commercial operations. Increasing demand for single phase inverters offering superior grid compatibility and ability to function independently of the grid or integrating seamlessly with backup energy systems, enhancing energy resilience for commercial enterprises are driving the product adoption.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of commercial single phase micro inverter was worth over USD 13.8 million in 2023 and will grow at a 15.1% CAGR between 2024 and 2032, fueled by the increasing adoption of solar energy in commercial sectors.

The on-grid segment will cross more than USD 30 million by 2032, attributed to its widespread adoption in commercial solar energy systems.

Europe commercial single phase micro inverter industry size will reach USD 24 million by 2032, driven by the region's strong commitment to renewable energy and stringent environmental regulations.

Prominent companies including APsystems, Growatt New Energy, Gospower, Hoymiles, Renogy, Sparq System, Solar Link Australia, SunEvo Solar Co., Ltd, Yotta Energy, and Zhejiang Beny Electric Co. Ltd., are operating in the commercial single phase micro inverter industry.