Global Solar Microinverter Market Growth 2024-2030

Global Solar Microinverter Market Growth 2024-2030

According to our LPI (LP Information) latest study, the global Solar Microinverter market size was valued at US$ 212.3 million in 2023. With growing demand in downstream market, the Solar Microinverter is forecast to a readjusted size of US$ 794.4 million by 2030 with a CAGR of 20.7% during review period.

The research report highlights the growth potential of the global Solar Microinverter market. Solar Microinverter are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Solar Microinverter. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Solar Microinverter market.

A Solar Microinverter, or simply microinverter, is a plug-and-play device used in photovoltaics, that converts direct current (DC) generated by a single solar module to alternating current (AC). Microinverters contrast with conventional string and central solar inverters, in which a single inverter is connected to multiple solar panels. The output from several microinverters can be combined and often fed to the electrical grid.

It is expected that global demand for photovoltaic products will remain high in the next few years. According to our PV & Solar Research Center, by the end of 2022, the global cumulative installed photovoltaic power generation capacity is about 1180 GW. According to the data of China Photovoltaic Industry Association, the global newly installed photovoltaic capacity in 2022 is about 230 GW, and this number in 2023 is predicted to be 280-330 GW. According to the data of the Ministry of Industry and Information Technology, the total output value of China's photovoltaic industry exceeded 1.4 trillion yuan in 2022. From the perspective of production value, mainland China is still the global center of the PV industry. According to the International Energy Agency, China market share in all key products of the supply chain have exceeded 80%. Among them, the production capacity of silicon wafers, solar cells, and components accounts for as high as 98%, 85% and 77%, respectively. According to the data released by the European Photovoltaic Association, 27 EU countries gained a new PV installed capacity of 41.4 GW in 2022. According to the report of the US Solar Energy Industries Association (SEIA), the US held a new PV installed capacity of less than 19 GW in 2022. But it is estimated that from 2023, the average annual growth rate of new photovoltaic installed capacity will exceed 21%. In terms of Japan, based on data from Fitch and the US Energy Information Administration (EIA), in 2022, Japan's newly installed photovoltaic capacity was 3.231 GW.

Key Features:

The report on Solar Microinverter market reflects various aspects and provide valuable insights into the industry.

Market Size and Growth: The research report provide an overview of the current size and growth of the Solar Microinverter market. It may include historical data, market segmentation by Type (e.g., Grid-Connected Solar Microinverter, Grid-Off Solar Microinverter), and regional breakdowns.

Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Solar Microinverter market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.

Competitive Landscape: The research report provides analysis of the competitive landscape within the Solar Microinverter market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.

Technological Developments: The research report can delve into the latest technological developments in the Solar Microinverter industry. This include advancements in Solar Microinverter technology, Solar Microinverter new entrants, Solar Microinverter new investment, and other innovations that are shaping the future of Solar Microinverter.

Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Solar Microinverter market. It includes factors influencing customer ' purchasing decisions, preferences for Solar Microinverter product.

Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Solar Microinverter market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Solar Microinverter market. The report also evaluates the effectiveness of these policies in driving market growth.

Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Solar Microinverter market.

Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Solar Microinverter industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.

Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Solar Microinverter market.

Market Segmentation:

Solar Microinverter market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.

Segmentation by type
Grid-Connected Solar Microinverter
Grid-Off Solar Microinverter

Segmentation by application
Residential
Commercial
Other

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Enphase Energy
SolarEdge Technologies
SMA
SunPower
Power-One
Sungrow
AP System
Samil Power

Key Questions Addressed in this Report

What is the 10-year outlook for the global Solar Microinverter market?

What factors are driving Solar Microinverter market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Solar Microinverter market opportunities vary by end market size?

How does Solar Microinverter break out type, application?

Please note: The report will take approximately 2 business days to prepare and deliver.