The Micro Inverter Market size is estimated at USD 3.15 billion in 2024, and is expected to reach USD 7.74 billion by 2029, growing at a CAGR of 19.70% during the forecast period (2024-2029).
The factors like enabling module-level monitoring, easier installation, enhanced design flexibility, removing the need for DC switching points, and better safety than conventional inverters are some factors that are fueling the growth of the micro inverter market.
The micro-inverter market is highly fragmented, and the major players such as Enphase Energy Inc., Altenergy Power System Inc., DARFON, ABB Ltd, and Siemens AG, among others. These market players are using strategies such as new product launches, expansions, partnerships, acquisitions, and others to increase their footprints in this market.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook