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

Three Phase Micro Inverter Market Size

Three Phase Micro Inverter Market size was valued at USD 214.7 million in 2023 and is anticipated to grow at a CAGR of 12.9% between 2024 and 2032. It is a device used in solar photovoltaic (PV) systems to convert the direct current electricity generated by solar panels into alternating current electricity. They are designed to manage the conversion process for three phases of the power supply simultaneously making them suitable for use in multiple phase electrical systems commonly found in commercial, industrial, and utility-scale solar installations.
 

Rising adoption of solar energy in commercial and industrial sectors having larger-scale solar installations with poly phase electrical systems thereby stimulating the product demand to efficiently convert solar DC power into usable AC power. Improving grid integration regulations and standards to ensure seamless integration with the electrical grid, optimize power quality, and comply with safety standards will lead to for market expansion. Additionally, the device offers higher efficiency, better performance and ability to manage multiple phases simultaneously resulting in more balanced power distribution, and improved overall system performance thereby augmenting the product penetration.
 

Rising technological advancements in design and functionality coupled with improving innovations including advanced power electronics, smart grid and enhanced monitoring and control features will improve the reliability, efficiency, and flexibility of product which will strengthen the product demand. Furthermore, growing investments to reduce the product price owing to economies of scale and increased competition will make the product more accessible to a broader range of customers, thereby driving the business scenario.
 

Three Phase Micro Inverter Market Trends

Rising solar PV installations worldwide as a cost effective and sustainable power source, particularly across commercial and industrial segments will stimulate the product penetration. The flexibility, scalability and distributed nature of these microinverters can enhance system performance and reliability by minimizing the impact of shading, module mismatch, and partial system failures, thereby driving the business momentum.
 

Three Phase Micro Inverter Market Analysis

Based on connectivity, the market is segmented into on grid and standalone. On grid segment is projected to grow by more than USD 400 million by 2032. Growing adoption of grid connectivity across the utility sectors to participate in demand response programs and enable bidirectional energy flow between the solar PV system and the grid will uplift the market value. Furthermore, ongoing promotion of energy independence and sustainability by reducing reliance on fossil fuels, lowering greenhouse gas emissions, and mitigating environmental impacts is set to augment the industry landscape.
 

Based on application, the three phase micro inverter market is segmented into commercial & industrial and residential. Commercial & industrial segment is set to expand at a CAGR of over 12.7% through 2032. Increasing energy costs in commercial settings is set to generate the demand for an efficient solution that can produce solar power onsite and provide long-term cost savings thereby building growth opportunities. Furthermore, rising focus on sustainability and environmental responsibility by various industries to reduce their carbon footprint and align with renewable goals will drive the industry outlook.
 

Europe three phase micro inverter market is anticipated to surpass USD 383 million by 2032. Countries in the region have implemented ambitious renewable energy targets and initiatives including the European Green Deal and national renewable energy directives, subsidies, and feed-in tariffs to promote the adoption of solar PV systems, which will lead to a positive business outlook. Furthermore, rising technological innovation and research in the renewable energy sector coupled with shifting focus of consumers and businesses toward environmental sustainability and corporate social responsibility are some additional factors driving the industry scenario.
 

In the U.S., ongoing regulatory incentives, net metering policies, rising energy costs, technological innovation, and environmental consciousness will drive the product demand. Furthermore, the presence of intense competition and collaboration among manufacturers, suppliers, and installers, driven by innovation, reduced cost and expanded market access will improve the product penetration in the country.
 

Three Phase Micro Inverter Market Share

Eminent players are investing in research and development to innovate and enhance their offerings by improving efficiency, reliability, and performance metrics, as well as integrating advanced features aiming to differentiate their products and maintain a competitive edge in the market. Key players are also prioritizing customer satisfaction and engagement by offering personalized solutions, responsive customer support, and value-added services. Cultivating strong relationships with customers, the companies aim at building brand loyalty and fostering long term growth.
 

Three Phase Micro Inverter Market Companies

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

• Altenergy Power System, Inc.
• Darfon Electronics Corp.
• Dongguan Maywah Co., Ltd
• Envertech
• Enphase Energy
• Fimer Group
• Growatt New Energy
• Hoymiles
• NingBo Deye Inverter Technology Co., Ltd.
• Northern Electric Power Technology Inc.
• SMA Solar Technology AG
• Sensata Technologies, Inc.
• Sparq System
• TSUNESS Co., Ltd.
• Yotta Energy
   

Three Phase Micro Inverter Industry News

• In April 2023, Yotta Energy, a U.S. based storage system manufacturer, introduced a new dual power, three phase microinverter tailored for commercial rooftop PV installations. It is available in 208 V and 480 V variants, equipped with integrated phase monitoring and balancing, and compliant with NEC 2020 690.12 rapid shutdown regulations, and UL 1741-SA (Rule 21) standards. Further, the product launch will diversify the business, thereby improving its market presence.
   
• In September 2022, Hoymiles, announced the launch of a new series of 4-in-1 three-phase microinverters tailored for small commercial or industrial solar systems. The HMT microinverters offer power options of 1600 VA, 1800 VA, and 2000 VA, catering to various commercial and industrial applications. The product will be available in Europe and Asia Pacific, thereby enhancing its market presence.
   

The three phase micro inverter market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue 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 regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • Netherlands
  • Spain
  • Belgium
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
• Middle East & Africa
  • Israel
  • Saudi Arabia
  • UAE
  • South Africa
• Latin America
  • Brazil
  • Mexico
  • Chile