Global Solar Microinverters Market Growth 2024-2030

Global Solar Microinverters Market Growth 2024-2030

Solar microinverters are small devices installed on solar panels that convert the DC output of a photovoltaic (PV) panel into AC. These inverters use maximum power point tracking (MPPT) to get maximum power from the PV array.

The global Solar Microinverters market size is projected to grow from US$ 2052.2 million in 2023 to US$ 7698.4 million in 2030; it is expected to grow at a CAGR of 20.8% from 2024 to 2030.

LP Information, Inc. (LPI) ' newest research report, the “Solar Microinverters Industry Forecast” looks at past sales and reviews total world Solar Microinverters sales in 2023, providing a comprehensive analysis by region and market sector of projected Solar Microinverters sales for 2024 through 2030. With Solar Microinverters sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Solar Microinverters industry.

This Insight Report provides a comprehensive analysis of the global Solar Microinverters landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Solar Microinverters portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Solar Microinverters market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Solar Microinverters and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Solar Microinverters.

China has implemented the Renewable Energy Law since 2006, in which Article 4 clearly states that, the State gives first priority to the exploration of renewable energy. Over the years, various departments of the Chinese government have successively issued a large number of policies, covering production, sales, taxation, subsidies and other aspects. After setting the carbon neutrality goal in 2021, from a national perspective, the upgrading of the energy structure is ever imperative, and therefore the optoelectronic industry has great potential. The European Commission released the Net-Zero Industry Act in 2023. This bill aims to stimulate local manufacturing in Europe, reduce import dependence on China, and ensure that at least 40% of the EU's clean energy demand can be met by 2030. The EU targets an installed solar capacity of 600 GW. Overall, the European market still has a lot of room for development. US 2022 release of the Inflation Reduction Act, which includes $369 billion for energy security and climate change investments. For the photovoltaic industry, the bill stimulates its development from multiple aspects such as corporate and individual tax credits, production subsidies, and loans throughout the industry chain, and revitalizes the domestic manufacturing industry in the United States. Japanese authorities plan to make solar panels mandatory for new residential buildings in Tokyo from 2025 onwards. It is estimated that by 2030, photovoltaic power generation will account for 14%-16% of Japan's total power generation, and the cumulative installed capacity of photovoltaic systems will be about 117.384 GW.

This report presents a comprehensive overview, market shares, and growth opportunities of Solar Microinverters market by product type, application, key manufacturers and key regions and countries.

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

Segmentation by application
Residential
Non-residential

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.
ABB
SMA Solar Technology
SolarEdge Technologies
Chilicon Power
Enphase Energy
Renesola

Key Questions Addressed in this Report

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

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

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

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

How does Solar Microinverters break out type, application?

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