Global and United States Solar Microinverters Market Report & Forecast 2023-2028

Report ID: 1795541 | Published Date: Jan 2025 | No. of Page: 95 | Base Year: 2024 | Rating: 4.7 | Webstory: Check our Web story
1 Study Coverage
    1.1 Solar Microinverters Product Introduction
    1.2 Global Solar Microinverters Outlook 2017 VS 2022 VS 2028
        1.2.1 Global Solar Microinverters Sales in US$ Million for the Year 2017-2028
        1.2.2 Global Solar Microinverters Sales in Volume for the Year 2017-2028
    1.3 United States Solar Microinverters Outlook 2017 VS 2022 VS 2028
        1.3.1 United States Solar Microinverters Sales in US$ Million for the Year 2017-2028
        1.3.2 United States Solar Microinverters Sales in Volume for the Year 2017-2028
    1.4 Solar Microinverters Market Size, United States VS Global, 2017 VS 2022 VS 2028
        1.4.1 The Market Share of United States Solar Microinverters in Global, 2017 VS 2022 VS 2028
        1.4.2 The Growth Rate of Solar Microinverters Market Size, United States VS Global, 2017 VS 2022 VS 2028
    1.5 Solar Microinverters Market Dynamics
        1.5.1 Solar Microinverters Industry Trends
        1.5.2 Solar Microinverters Market Drivers
        1.5.3 Solar Microinverters Market Challenges
        1.5.4 Solar Microinverters Market Restraints
    1.6 Study Objectives
    1.7 Years Considered
2 Market by Type
    2.1 Solar Microinverters Market Segment by Type
        2.1.1 Grid-Connected Solar Microinverter
        2.1.2 Grid-Off Solar Microinverter
    2.2 Global Solar Microinverters Market Size by Type
        2.2.1 Global Solar Microinverters Sales in Value, by Type (2017, 2022 & 2028)
        2.2.2 Global Solar Microinverters Sales in Volume, by Type (2017, 2022 & 2028)
        2.2.3 Global Solar Microinverters Average Selling Price (ASP) by Type (2017, 2022 & 2028)
    2.3 United States Solar Microinverters Market Size by Type
        2.3.1 United States Solar Microinverters Sales in Value, by Type (2017, 2022 & 2028)
        2.3.2 United States Solar Microinverters Sales in Volume, by Type (2017, 2022 & 2028)
        2.3.3 United States Solar Microinverters Average Selling Price (ASP) by Type (2017, 2022 & 2028)
3 Market by Application
    3.1 Solar Microinverters Market Segment by Application
        3.1.1 Residential
        3.1.2 Non-residential
    3.2 Global Solar Microinverters Market Size by Application
        3.2.1 Global Solar Microinverters Sales in Value, by Application (2017, 2022 & 2028)
        3.2.2 Global Solar Microinverters Sales in Volume, by Application (2017, 2022 & 2028)
        3.3.3 Global Solar Microinverters Average Selling Price (ASP) by Application (2017, 2022 & 2028)
    3.3 United States Solar Microinverters Market Size by Application
        3.3.1 United States Solar Microinverters Sales in Value, by Application (2017, 2022 & 2028)
        3.3.2 United States Solar Microinverters Sales in Volume, by Application (2017, 2022 & 2028)
        3.3.3 United States Solar Microinverters Average Selling Price (ASP) by Application (2017, 2022 & 2028)
4 Global Solar Microinverters Competitor Landscape by Company
    4.1 Global Solar Microinverters Market Size by Company
        4.1.1 Top Global Solar Microinverters Manufacturers Ranked by Revenue (2021)
        4.1.2 Global Solar Microinverters Revenue by Manufacturer (2017-2022)
        4.1.3 Global Solar Microinverters Sales by Manufacturer (2017-2022)
        4.1.4 Global Solar Microinverters Price by Manufacturer (2017-2022)
    4.2 Global Solar Microinverters Concentration Ratio (CR)
        4.2.1 Solar Microinverters Market Concentration Ratio (CR) (2017-2022)
        4.2.2 Global Top 5 and Top 10 Largest Manufacturers of Solar Microinverters in 2021
        4.2.3 Global Solar Microinverters Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
    4.3 Global Solar Microinverters Manufacturing Base Distribution, Product Type
        4.3.1 Global Solar Microinverters Manufacturers, Headquarters and Distribution of Producing Region
        4.3.2 Manufacturers Solar Microinverters Product Type
        4.3.3 Date of International Manufacturers Enter into Solar Microinverters Market
    4.4 Manufacturers Mergers & Acquisitions, Expansion Plans
    4.5 United States Solar Microinverters Market Size by Company
        4.5.1 Top Solar Microinverters Players in United States, Ranked by Revenue (2021)
        4.5.2 United States Solar Microinverters Revenue by Players (2020, 2021 & 2022)
        4.5.3 United States Solar Microinverters Sales by Players (2020, 2021 & 2022)
5 Global Solar Microinverters Market Size by Region
    5.1 Global Solar Microinverters Market Size by Region: 2017 VS 2022 VS 2028
    5.2 Global Solar Microinverters Market Size in Volume by Region (2017-2028)
        5.2.1 Global Solar Microinverters Sales in Volume by Region: 2017-2022
        5.2.2 Global Solar Microinverters Sales in Volume Forecast by Region (2023-2028)
    5.3 Global Solar Microinverters Market Size in Value by Region (2017-2028)
        5.3.1 Global Solar Microinverters Sales in Value by Region: 2017-2022
        5.3.2 Global Solar Microinverters Sales in Value by Region: 2023-2028
6 Segment in Region Level & Country Level
    6.1 North America
        6.1.1 North America Solar Microinverters Market Size YoY Growth 2017-2028
        6.1.2 North America Solar Microinverters Market Facts & Figures by Country (2017, 2022 & 2028)
        6.1.3 U.S.
        6.1.4 Canada
    6.2 Asia-Pacific
        6.2.1 Asia-Pacific Solar Microinverters Market Size YoY Growth 2017-2028
        6.2.2 Asia-Pacific Solar Microinverters Market Facts & Figures by Region (2017, 2022 & 2028)
        6.2.3 China
        6.2.4 Japan
        6.2.5 South Korea
        6.2.6 India
        6.2.7 Australia
        6.2.8 Taiwan
        6.2.9 Indonesia
        6.2.10 Thailand
        6.2.11 Malaysia
        6.2.12 Philippines
    6.3 Europe
        6.3.1 Europe Solar Microinverters Market Size YoY Growth 2017-2028
        6.3.2 Europe Solar Microinverters Market Facts & Figures by Country (2017, 2022 & 2028)
        6.3.3 Germany
        6.3.4 France
        6.3.5 U.K.
        6.3.6 Italy
        6.3.7 Russia
    6.4 Latin America
        6.4.1 Latin America Solar Microinverters Market Size YoY Growth 2017-2028
        6.4.2 Latin America Solar Microinverters Market Facts & Figures by Country (2017, 2022 & 2028)
        6.4.3 Mexico
        6.4.4 Brazil
        6.4.5 Argentina
    6.5 Middle East and Africa
        6.5.1 Middle East and Africa Solar Microinverters Market Size YoY Growth 2017-2028
        6.5.2 Middle East and Africa Solar Microinverters Market Facts & Figures by Country (2017, 2022 & 2028)
        6.5.3 Turkey
        6.5.4 Saudi Arabia
        6.5.5 U.A.E
7 Company Profiles
    7.1 ABB
        7.1.1 ABB Corporation Information
        7.1.2 ABB Description and Business Overview
        7.1.3 ABB Solar Microinverters Sales, Revenue and Gross Margin (2017-2022)
        7.1.4 ABB Solar Microinverters Products Offered
        7.1.5 ABB Recent Development
    7.2 SMA Solar Technology
        7.2.1 SMA Solar Technology Corporation Information
        7.2.2 SMA Solar Technology Description and Business Overview
        7.2.3 SMA Solar Technology Solar Microinverters Sales, Revenue and Gross Margin (2017-2022)
        7.2.4 SMA Solar Technology Solar Microinverters Products Offered
        7.2.5 SMA Solar Technology Recent Development
    7.3 SolarEdge Technologies
        7.3.1 SolarEdge Technologies Corporation Information
        7.3.2 SolarEdge Technologies Description and Business Overview
        7.3.3 SolarEdge Technologies Solar Microinverters Sales, Revenue and Gross Margin (2017-2022)
        7.3.4 SolarEdge Technologies Solar Microinverters Products Offered
        7.3.5 SolarEdge Technologies Recent Development
    7.4 Chilicon Power
        7.4.1 Chilicon Power Corporation Information
        7.4.2 Chilicon Power Description and Business Overview
        7.4.3 Chilicon Power Solar Microinverters Sales, Revenue and Gross Margin (2017-2022)
        7.4.4 Chilicon Power Solar Microinverters Products Offered
        7.4.5 Chilicon Power Recent Development
    7.5 Enphase Energy
        7.5.1 Enphase Energy Corporation Information
        7.5.2 Enphase Energy Description and Business Overview
        7.5.3 Enphase Energy Solar Microinverters Sales, Revenue and Gross Margin (2017-2022)
        7.5.4 Enphase Energy Solar Microinverters Products Offered
        7.5.5 Enphase Energy Recent Development
    7.6 Renesola
        7.6.1 Renesola Corporation Information
        7.6.2 Renesola Description and Business Overview
        7.6.3 Renesola Solar Microinverters Sales, Revenue and Gross Margin (2017-2022)
        7.6.4 Renesola Solar Microinverters Products Offered
        7.6.5 Renesola Recent Development
8 Industry Chain and Sales Channels Analysis
    8.1 Solar Microinverters Industry Chain Analysis
    8.2 Solar Microinverters Key Raw Materials
        8.2.1 Key Raw Materials
        8.2.2 Solar Microinverters Distributors
    8.3 Solar Microinverters Production Mode & Process
    8.4 Solar Microinverters Sales and Marketing
        8.4.1 Solar Microinverters Sales Channels
        8.4.2 Solar Microinverters Distributors
    8.5 Solar Microinverters Customers
9 Research Findings and Conclusion
10 Appendix
    10.1 Research Methodology
        10.1.1 Methodology/Research Approach
        10.1.2 Data Source
    10.2 Author Details
    10.3 Disclaimer
List of Tables
    Table 1. Solar Microinverters CAGR in Value, United States VS Global, 2017 VS 2022 VS 2028
    Table 2. Solar Microinverters Market Trends
    Table 3. Solar Microinverters Market Drivers
    Table 4. Solar Microinverters Market Challenges
    Table 5. Solar Microinverters Market Restraints
    Table 6. Global Solar Microinverters Sales by Type: 2017 VS 2022 VS 2028 (US$ Million)
    Table 7. United States Solar Microinverters Sales by Type: 2017 VS 2022 VS 2028 (US$ Million)
    Table 8. Global Solar Microinverters Sales by Application: 2017 VS 2022 VS 2028 (US$ Million)
    Table 9. United States Solar Microinverters Sales by Application: 2017 VS 2022 VS 2028 (US$ Million)
    Table 10. Top Solar Microinverters Manufacturers in Global Market, Ranking by Revenue (2021)
    Table 11. Global Solar Microinverters Revenue by Manufacturer, (US$ Million), 2017-2022
    Table 12. Global Solar Microinverters Revenue Share by Manufacturer, 2017-2022
    Table 13. Global Solar Microinverters Sales by Manufacturer, (K Units), 2017-2022
    Table 14. Global Solar Microinverters Sales Share by Manufacturer, 2017-2022
    Table 15. Global Solar Microinverters Price by Manufacturer (2017-2022) & (USD/Unit)
    Table 16. Global Solar Microinverters Manufacturers Market Concentration Ratio (CR5 and HHI)
    Table 17. Global Solar Microinverters by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Solar Microinverters as of 2021)
    Table 18. Top Players of Solar Microinverters in Global Market, Headquarters and Distribution of Producing Region
    Table 19. Manufacturers Solar Microinverters Product Type
    Table 20. Date of International Manufacturers Enter into Solar Microinverters Market
    Table 21. Manufacturers Mergers & Acquisitions, Expansion Plans
    Table 22. Top Solar Microinverters Players in United States Market, Ranking by Revenue (2021)
    Table 23. United States Solar Microinverters Revenue by Players, (US$ Million), 2020, 2021 & 2022
    Table 24. United States Solar Microinverters Revenue Share by Players, 2020, 2021 & 2022
    Table 25. United States Solar Microinverters Sales by Players, (K Units), 2020, 2021 & 2022
    Table 26. United States Solar Microinverters Sales Share by Players, 2020, 2021 & 2022
    Table 27. Global Solar Microinverters Market Size by Region (US$ Million): 2017 VS 2022 VS 2028
    Table 28. Global Solar Microinverters Sales in Volume by Region (2017-2022) & (K Units)
    Table 29. Global Solar Microinverters Sales in Volume Forecast by Region (2023-2028) & (K Units)
    Table 30. Global Solar Microinverters Sales in Value by Region (2017-2022) & (US$ Million)
    Table 31. Global Solar Microinverters Sales in Value Forecast by Region (2023-2028) & (US$ Million)
    Table 32. North America Solar Microinverters Sales in Volume by Country (2017-2028) & (K Units)
    Table 33. North America Solar Microinverters Sales in Value by Country (2017-2028) & (US$ Million)
    Table 34. Asia Pacific Solar Microinverters Sales in Volume by Region (2017-2028) & (K Units)
    Table 35. Asia Pacific Solar Microinverters Sales in Value by Region (2017-2028) & (US$ Million)
    Table 36. Europe Solar Microinverters Sales in Volume by Country (2017-2028) & (K Units)
    Table 37. Europe Solar Microinverters Sales in Value by Country (2017-2028) & (US$ Million)
    Table 38. Latin America Solar Microinverters Sales in Volume by Country (2017-2028) & (K Units)
    Table 39. Latin Americaa Solar Microinverters Sales in Value by Country (2017-2028) & (US$ Million)
    Table 40. Middle East and Africa Solar Microinverters Sales in Volume by Country (2017-2028) & (K Units)
    Table 41. Middle East and Africa Solar Microinverters Sales in Value by Country (2017-2028) & (US$ Million)
    Table 42. ABB Corporation Information
    Table 43. ABB Description and Business Overview
    Table 44. ABB Solar Microinverters Sales (K Units), Revenue (US$ Million), Price (USD/Unit) and Gross Margin (2017-2022)
    Table 45. ABB Solar Microinverters Product
    Table 46. ABB Recent Development
    Table 47. SMA Solar Technology Corporation Information
    Table 48. SMA Solar Technology Description and Business Overview
    Table 49. SMA Solar Technology Solar Microinverters Sales (K Units), Revenue (US$ Million), Price (USD/Unit) and Gross Margin (2017-2022)
    Table 50. SMA Solar Technology Product
    Table 51. SMA Solar Technology Recent Development
    Table 52. SolarEdge Technologies Corporation Information
    Table 53. SolarEdge Technologies Description and Business Overview
    Table 54. SolarEdge Technologies Solar Microinverters Sales (K Units), Revenue (US$ Million), Price (USD/Unit) and Gross Margin (2017-2022)
    Table 55. SolarEdge Technologies Product
    Table 56. SolarEdge Technologies Recent Development
    Table 57. Chilicon Power Corporation Information
    Table 58. Chilicon Power Description and Business Overview
    Table 59. Chilicon Power Solar Microinverters Sales (K Units), Revenue (US$ Million), Price (USD/Unit) and Gross Margin (2017-2022)
    Table 60. Chilicon Power Product
    Table 61. Chilicon Power Recent Development
    Table 62. Enphase Energy Corporation Information
    Table 63. Enphase Energy Description and Business Overview
    Table 64. Enphase Energy Solar Microinverters Sales (K Units), Revenue (US$ Million), Price (USD/Unit) and Gross Margin (2017-2022)
    Table 65. Enphase Energy Product
    Table 66. Enphase Energy Recent Development
    Table 67. Renesola Corporation Information
    Table 68. Renesola Description and Business Overview
    Table 69. Renesola Solar Microinverters Sales (K Units), Revenue (US$ Million), Price (USD/Unit) and Gross Margin (2017-2022)
    Table 70. Renesola Product
    Table 71. Renesola Recent Development
    Table 72. Key Raw Materials Lists
    Table 73. Raw Materials Key Suppliers Lists
    Table 74. Solar Microinverters Customers List
    Table 75. Solar Microinverters Distributors List
    Table 76. Research Programs/Design for This Report
    Table 77. Key Data Information from Secondary Sources
    Table 78. Key Data Information from Primary Sources
List of Figures
    Figure 1. Solar Microinverters Product Picture
    Figure 2. Global Solar Microinverters Revenue, (US$ Million), 2017 VS 2022 VS 2028
    Figure 3. Global Solar Microinverters Market Size 2017-2028 (US$ Million)
    Figure 4. Global Solar Microinverters Sales 2017-2028 (K Units)
    Figure 5. United States Solar Microinverters Revenue, (US$ Million), 2017 VS 2022 VS 2028
    Figure 6. United States Solar Microinverters Market Size 2017-2028 (US$ Million)
    Figure 7. United States Solar Microinverters Sales 2017-2028 (K Units)
    Figure 8. United States Solar Microinverters Market Share in Global, in Value (US$ Million) 2017-2028
    Figure 9. United States Solar Microinverters Market Share in Global, in Volume (K Units) 2017-2028
    Figure 10. Solar Microinverters Report Years Considered
    Figure 11. Product Picture of Grid-Connected Solar Microinverter
    Figure 12. Product Picture of Grid-Off Solar Microinverter
    Figure 13. Global Solar Microinverters Market Share by Type in 2022 & 2028
    Figure 14. Global Solar Microinverters Sales in Value by Type (2017-2028) & (US$ Million)
    Figure 15. Global Solar Microinverters Sales Market Share in Value by Type (2017-2028)
    Figure 16. Global Solar Microinverters Sales by Type (2017-2028) & (K Units)
    Figure 17. Global Solar Microinverters Sales Market Share in Volume by Type (2017-2028)
    Figure 18. Global Solar Microinverters Price by Type (2017-2028) & (USD/Unit)
    Figure 19. United States Solar Microinverters Market Share by Type in 2022 & 2028
    Figure 20. United States Solar Microinverters Sales in Value by Type (2017-2028) & (US$ Million)
    Figure 21. United States Solar Microinverters Sales Market Share in Value by Type (2017-2028)
    Figure 22. United States Solar Microinverters Sales by Type (2017-2028) & (K Units)
    Figure 23. United States Solar Microinverters Sales Market Share in Volume by Type (2017-2028)
    Figure 24. United States Solar Microinverters Price by Type (2017-2028) & (USD/Unit)
    Figure 25. Product Picture of Residential
    Figure 26. Product Picture of Non-residential
    Figure 27. Global Solar Microinverters Market Share by Application in 2022 & 2028
    Figure 28. Global Solar Microinverters Sales in Value by Application (2017-2028) & (US$ Million)
    Figure 29. Global Solar Microinverters Sales Market Share in Value by Application (2017-2028)
    Figure 30. Global Solar Microinverters Sales by Application (2017-2028) & (K Units)
    Figure 31. Global Solar Microinverters Sales Market Share in Volume by Application (2017-2028)
    Figure 32. Global Solar Microinverters Price by Application (2017-2028) & (USD/Unit)
    Figure 33. United States Solar Microinverters Market Share by Application in 2022 & 2028
    Figure 34. United States Solar Microinverters Sales in Value by Application (2017-2028) & (US$ Million)
    Figure 35. United States Solar Microinverters Sales Market Share in Value by Application (2017-2028)
    Figure 36. United States Solar Microinverters Sales by Application (2017-2028) & (K Units)
    Figure 37. United States Solar Microinverters Sales Market Share in Volume by Application (2017-2028)
    Figure 38. United States Solar Microinverters Price by Application (2017-2028) & (USD/Unit)
    Figure 39. North America Solar Microinverters Sales in Volume Growth Rate 2017-2028 (K Units)
    Figure 40. North America Solar Microinverters Sales in Value Growth Rate 2017-2028 (US$ Million)
    Figure 41. U.S. Solar Microinverters Sales in Value Growth Rate (2017-2028) & (US$ Million)
    Figure 42. Canada Solar Microinverters Sales in Value Growth Rate (2017-2028) & (US$ Million)
    Figure 43. Europe Solar Microinverters Sales in Volume Growth Rate 2017-2028 (K Units)
    Figure 44. Europe Solar Microinverters Sales in Value Growth Rate 2017-2028 (US$ Million)
    Figure 45. Germany Solar Microinverters Sales in Value Growth Rate (2017-2028) & (US$ Million)
    Figure 46. France Solar Microinverters Sales in Value Growth Rate (2017-2028) & (US$ Million)
    Figure 47. U.K. Solar Microinverters Sales in Value Growth Rate (2017-2028) & (US$ Million)
    Figure 48. Italy Solar Microinverters Sales in Value Growth Rate (2017-2028) & (US$ Million)
    Figure 49. Russia Solar Microinverters Sales in Value Growth Rate (2017-2028) & (US$ Million)
    Figure 50. Asia-Pacific Solar Microinverters Sales in Volume Growth Rate 2017-2028 (K Units)
    Figure 51. Asia-Pacific Solar Microinverters Sales in Value Growth Rate 2017-2028 (US$ Million)
    Figure 52. China Solar Microinverters Sales in Value Growth Rate (2017-2028) & (US$ Million)
    Figure 53. Japan Solar Microinverters Sales in Value Growth Rate (2017-2028) & (US$ Million)
    Figure 54. South Korea Solar Microinverters Sales in Value Growth Rate (2017-2028) & (US$ Million)
    Figure 55. India Solar Microinverters Sales in Value Growth Rate (2017-2028) & (US$ Million)
    Figure 56. Australia Solar Microinverters Sales in Value Growth Rate (2017-2028) & (US$ Million)
    Figure 57. Taiwan Solar Microinverters Sales in Value Growth Rate (2017-2028) & (US$ Million)
    Figure 58. Indonesia Solar Microinverters Sales in Value Growth Rate (2017-2028) & (US$ Million)
    Figure 59. Thailand Solar Microinverters Sales in Value Growth Rate (2017-2028) & (US$ Million)
    Figure 60. Malaysia Solar Microinverters Sales in Value Growth Rate (2017-2028) & (US$ Million)
    Figure 61. Philippines Solar Microinverters Sales in Value Growth Rate (2017-2028) & (US$ Million)
    Figure 62. Latin America Solar Microinverters Sales in Volume Growth Rate 2017-2028 (K Units)
    Figure 63. Latin America Solar Microinverters Sales in Value Growth Rate 2017-2028 (US$ Million)
    Figure 64. Mexico Solar Microinverters Sales in Value Growth Rate (2017-2028) & (US$ Million)
    Figure 65. Brazil Solar Microinverters Sales in Value Growth Rate (2017-2028) & (US$ Million)
    Figure 66. Argentina Solar Microinverters Sales in Value Growth Rate (2017-2028) & (US$ Million)
    Figure 67. Middle East & Africa Solar Microinverters Sales in Volume Growth Rate 2017-2028 (K Units)
    Figure 68. Middle East & Africa Solar Microinverters Sales in Value Growth Rate 2017-2028 (US$ Million)
    Figure 69. Turkey Solar Microinverters Sales in Value Growth Rate (2017-2028) & (US$ Million)
    Figure 70. Saudi Arabia Solar Microinverters Sales in Value Growth Rate (2017-2028) & (US$ Million)
    Figure 71. U.A.E Solar Microinverters Sales in Value Growth Rate (2017-2028) & (US$ Million)
    Figure 72. Solar Microinverters Value Chain
    Figure 73. Solar Microinverters Production Process
    Figure 74. Channels of Distribution
    Figure 75. Distributors Profiles
    Figure 76. Bottom-up and Top-down Approaches for This Report
    Figure 77. Data Triangulation
    Figure 78. Key Executives Interviewed
Please ask for List of Figures. Request Sample Report
Companies Included in Reports:
ABB
SMA Solar Technology
SolarEdge Technologies
Chilicon Power
Enphase Energy
Renesola
Frequently Asked Questions
Solar Microinverters report offers great insights of the market and consumer data and their interpretation through various figures and graphs. Report has embedded global market and regional market deep analysis through various research methodologies. The report also offers great competitor analysis of the industries and highlights the key aspect of their business like success stories, market development and growth rate.
Solar Microinverters report is categorised based on following features:
  1. Global Market Players
  2. Geopolitical regions
  3. Consumer Insights
  4. Technological advancement
  5. Historic and Future Analysis of the Market
Solar Microinverters report is designed on the six basic aspects of analysing the market, which covers the SWOT and SWAR analysis like strength, weakness, opportunity, threat, aspirations and results. This methodology helps investors to reach on to the desired and correct decision to put their capital into the market.

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