Global Solar Micro Inverter Market Size study & Forecast, by System Type (Stand Alone, Integrated), by End Use (Residential, Commercial, Utility) and Regional Analysis, 2023-2030

Global Solar Micro Inverter Market Size study & Forecast, by System Type (Stand Alone, Integrated), by End Use (Residential, Commercial, Utility) and Regional Analysis, 2023-2030

Global Solar Micro Inverter Market is valued at approximately USD XXX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. A solar microinverter is a device used in solar photovoltaic (PV) systems to convert the direct current (DC) electricity generated by individual solar panels into alternating current (AC) electricity that can be used in homes or fed into the electrical grid. The Solar Micro Inverter Market is expanding because of factors such as increasing deployment of solar panels, growing focus on sustainable environment development and growth in adoption of energy storage systems.

Solar microinverters optimize the performance of each individual solar panel in a solar array. This optimization leads to increased energy generation, and significantly impact the output of the entire system. As more solar panels are deployed, the potential to harness more energy from the sun increases, and microinverters play a crucial role in maximizing that energy capture. According to the International Energy Agency, the power generation from solar panels across the globe in the year 2020 stood at 826 TWH which increased to 1293 TWH and it is projected to reach 8255 TWH by the year 2030, these rising Solar PV power generation is driving the market growth. Moreover, favorable government initiatives for the adoption of solar technology and the growing number of investments in technologies are creating new opportunities for market growth. However, the high cost of the solar micro inverter and the rising adoption of DC optimizers stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Solar Micro Inverter Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to increasing demand for Solar inverters in emerging economies such as the United States, and Canada. Moreover, increasing installations of solar products such as solar panels is one of the major factors that is expected to increase the growth of the market over the forecast period. Asia Pacific is expected to grow significantly over the forecast period, owing to factors such as an increasing focus on renewable energy and sustainability has led to a surge in solar panel installations, driven by government incentives, regulations, and environmental awareness. The growing population and rising energy demand in countries such as China and India are propelling the adoption of solar energy solutions, and microinverters play a pivotal role in optimizing energy production.

Major market player included in this report are:
ABB (Asea Brown Boveri) Ltd.
Chilicon Power, LLC
Enphase Energy Inc.
Altenergy Power System Inc.
SunPower Corporation
Darfon Electronics Corporation
Delta Energy Systems
Siemens AG
Delta Energy Systems (Germany) GmbH
Alencon Systems LLC

Recent Developments in the Market:
 In April 2022, SMA Solar Technology AG introduced the Sunny Tripower X, a groundbreaking inverter solution suitable for both residential and commercial applications. This innovative product is equipped with three MPP trackers and features SMA ShadeFix string optimization technology, offering exceptional flexibility for optimizing PV array designs and ensuring maximum energy production.

Global Solar Micro Inverter Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - System Type, End use, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and System Type offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Stand Alone:
Stand Alone
Integrated (AC Module)

By End Use:
Residential
Commercial
Utility

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
ABB (Asea Brown Boveri) Ltd.
Chilicon Power, LLC
Enphase Energy Inc.
Altenergy Power System Inc.
SunPower Corporation
Darfon Electronics Corporation
Delta Energy Systems
Siemens AG
Delta Energy Systems (Germany) GmbH
Alencon Systems LLC

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