Summary
Table of Content
North America Commercial Micro Inverter Market
Get a free sample of this report
Thank you!
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
Request Sectional Data
Thank you!
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
North America Commercial Micro Inverter Market Size
North America Commercial Micro Inverter Market was valued USD 89.9 million in 2023 and is anticipated to grow at a CAGR of 10.1% from 2024 to 2032. It is a device used to convert DC electricity generated by solar panels into AC electricity suitable for commercial applications. These devices are typically designed to handle the output of a single solar panel or a small group of panels. This individualized approach allows for greater flexibility in system design, improved energy harvest, and enhanced performance monitoring at the panel level.
To get key market trends
Rising regional shift towards solar energy as a cost-effective and sustainable solution to meet its electricity needs and reduce carbon emissions is set to augment the industry growth. Growing prioritization of performance monitoring and optimization by commercial solar system owners and operators to ensure maximum energy production and system uptime is propelling the product demand.
North America Commercial Micro Inverter Market Report Attributes
| Key Takeaway | Details |
|---|---|
| Market Size & Growth | |
| Base Year | 2023 |
| Market Size in 2023 | USD 89.9 Million |
| Forecast Period 2024 - 2032 CAGR | 10.1% |
| Market Size in 2032 | USD 223.1 Million |
| Key Market Trends | |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
What are the growth opportunities in this market?
Rising demand for devices offering easy customization to accommodate complex roof layouts, shading conditions, and panel orientations coupled with scalability, allowing businesses to scale their solar installations according to their energy needs and budgetary constraints will boost the product growth. Increasing government policies, incentives, and regulatory frameworks at the federal, state, and local levels to invest in solar PV systems, spurring product demand.
North America Commercial Micro Inverter Market Trends
Growing technological advancements such as increased power output, improved efficiency, and enhanced reliability in line with rising investments in research and development to develop next-generation microinverters that further optimize system performance and address evolving customer needs will complement the business statistics. Rising installation of solar systems by businesses, educational institutions, government facilities, and other commercial entities to reduce energy costs, lower carbon emissions, and demonstrate corporate social responsibility is driving the product penetration.
North America Commercial Micro Inverter Market Analysis
Learn more about the key segments shaping this market
Based on phase, the three phase segment is anticipated to grow by more than USD 207 million by 2032 on account of their ability to handle higher power loads efficiently in line with seamless alignment with existing electrical infrastructures, making them an ideal choice for commercial solar installations. Rising demand for devices with better voltage regulation, reduced losses and enhanced overall performance and reliability of the solar energy system, leading to better energy yields and lower operational costs will foster the multi phase product adoption.
Learn more about the key segments shaping this market
Based on connectivity, the standalone segment of North America commercial micro inverter market is set to grow at a CAGR of over 12.7% through 2032. Rising demand for systems offering businesses the ability to generate and manage their own power, reducing dependence on the traditional power grid, especially for companies operating in remote locations or areas with unreliable grid connectivity is escalating the product demand. Furthermore, these systems provide a predictable and stable source of energy, allowing companies to manage their operational expenses thereby propelling the industry growth.
Looking for region specific data?
The U.S. commercial micro inverter market is projected to surpass USD 922 million by 2032. Rising adoption of modern micro inverters offering superior performance by optimizing power output at the individual panel level, reducing the impact of shading, and enhancing overall system reliability is set to influence the product growth in the U.S. Rising companies adoption of solar energy to reduce electricity costs, meet sustainability goals and enhance their environmental stewardship is driving the industry landscape.
Expanding demand for devices with modular nature offering customizations to specific site conditions and expanding incrementally, covering a wide range of commercial applications will create positive influence on product penetration. Furthermore, supportive government offering incentives and policies to reduce the initial investment cost and improve the financial viability of solar projects will boost the business scenario.
North America Commercial Micro Inverter Market Share
Eminent manufacturers are continually investing in research and development to enhance the efficiency, reliability, and functionality of their microinverters. Companies are also developing next generation microinverters that support high-powered solar panels and complex commercial installations helps companies stay ahead of the competition and meet increasing market demands. Key players are forming partnerships with solar panel manufacturers, installation companies, and energy storage providers helps create integrated solutions that offer greater value to customers.
North America Commercial Micro Inverter Market Companies
Eminent players operating in the North America commercial micro inverter industry are:
- APsystems
- ABB
- Darfon Solar
- Enphase Energy
- GoodWe Power Supply Technology Co., Ltd.
- HiQ Solar
- Hoymiles
- Ningbo Deye Inverter Technology Co Ltd
- Siemens AG
- Sparq System
- Solax Power
- Yotta Energy
North America Commercial Micro Inverter Industry News
- In November 2023, Hangzhou-based Hoymiles launched the HMT-2000-4T-NA series of microinverters targeting North American commercial and industrial solar markets. These microinverters, designed for up to four solar modules, promise superior performance, efficiency, and safety. Hoymiles aims to set new standards in North American solar installations with this innovative product.
- In May 2023, Enphase Energy, Inc. unveiled its latest IQ8 Commercial Microinverters for the small scale commercial solar market in North America. With a peak output power of 480 W, it supports three-phase commercial applications coupled with high-powered solar panels. Enphase aims to simplify installation, improve energy harvest, and meet client needs with these commercial microinverters.
This North America commercial 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:
Market, By Connectivity
- Standalone
- On Grid
Market, By Phase
- Single Phase
- Three Phase
The above information has been provided for the following countries:
- U.S.
- Canada
Frequently Asked Question(FAQ) :
What is the U.S. commercial micro inverter market worth?
U.S. commercial micro inverter industry is projected to surpass USD 922 million by 2032, driven by rising adoption of modern micro inverters for offering superior performance by optimizing power output at the individual panel levels.
Why is the use of standalone commercial micro inverters growing in North America?
The standalone connectivity segment in the North America commercial micro inverter market is set to record over 12.7% CAGR through 2032, led by the rising demand for systems offering businesses the ability to generate and manage their own power.
Why is the demand for three phase commercial micro inverters rising in North America?
North America commercial micro inverter market from the three phase segment is anticipated to exceed USD 207 million by 2032, on account of their ability to handle higher power loads efficiently in line with seamless alignment with existing electrical infrastructures.
What is the size of the North America commercial micro inverter market?
The market size of North America commercial micro inverter was reached USD 89.9 million in 2023 and is anticipated to grow at 10.1% CAGR from 2024 to 2032, due to their rising usage to convert DC electricity generated by solar panels into AC electricity suitable for commercial applications.
