Micro Inverter Market Size - By Phase (Single Phase, Three Phase), By Connectivity (Standalone, On Grid), By Application (Residential, Commercial) Global Forecast, 2023 - 2032
Micro Inverter Market Size - By Phase (Single Phase, Three Phase), By Connectivity (Standalone, On Grid), By Application (Residential, Commercial) Global Forecast, 2023 - 2032
The global micro inverters market will showcase over 11.8% CAGR from 2023-2032. The increasing adoption of solar energy systems in residential and commercial applications will drive the industry forward. The growing trend toward decentralized energy generation and grid independence will play a pivotal role in driving industry growth.
Additionally, advancements in technology, such as improved power electronics and monitoring capabilities, will boost market growth. The supportive government policies and incentives for renewable energy deployment will also continue to stimulate industry development.
The development of advanced grid integration solutions by micro inverter manufacturers will drive market expansion by ensuring a seamless and stable connection of solar systems to the electrical grid.
The market is categorized based on phase, connectivity, application, and region.
The three-phase micro inverter industry will reflect a substantial CAGR during 2023-2032. The increasing adoption of three-phase solar systems in commercial and industrial settings will drive growth in the segment. Also, the higher energy efficiency offered by these micro inverters and the ability to manage larger solar arrays will further drive growth in the segment.
The standalone connectivity segment will account for a sizeable share of the micro inverter market by 2032. The rise of off-grid and remote solar installations, demand for autonomous power generation, as well as advancements in standalone microinverter technology, will drive growth in the segment.
Micro inverter industry size from the commercial application segment will exhibit a significant CAGR, driven by factors such as the increasing installation of solar PV systems on commercial rooftops and properties. The need for energy cost savings, environmental sustainability, and favorable government incentives will encourage businesses to adopt micro inverters for higher energy production and system reliability that will foster growth in the segment.
Regionally, the Asia Pacific micro inverter market will account for a significant industry share by 2032, driven by factors such as rapid urbanization and increasing electricity demand in the region. Government incentives for solar adoption, growing awareness of renewable energy's benefits, and the need for reliable power supply will contribute to regional market development.
Chapter 1 Methodology & Scope
1.1 Market scope & definitions
1.2 Market estimates and forecast parameters
1.3 Research Rationale
1.4 Forecast calculations
1.5 Data sources
1.5.1 Primary
1.5.2 Secondary
1.5.2.1 Paid
1.5.2.2 Public
Chapter 2 Executive Summary
2.1 Micro inverter industry 360 degree synopsis, 2019 - 2032
2.1.1 Business trends
2.1.2 Phase trends
2.1.3 Connectivity trends
2.1.4 Application trends
2.1.5 Regional trends
Chapter 3 Micro Inverter Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Vendor Matrix
3.2 Regulatory landscape
3.2.1 North America
3.2.1.1 U.S.
3.2.1.1.1 National Fire Protection Association (NFPA)
3.2.1.1.2 UL 1741 Standard
3.2.1.1.3 IEEE 1547-2018
3.2.1.1.4 IEC 62109 Standard
3.2.1.1.5 Federal Investment Tax Credit (ITC)
3.2.1.2 Canada
3.2.1.2.1 Canadian Electrical Code (CEC)
3.2.2 Europe
3.2.2.1 Germany
3.2.2.1.1 VDE AR-N 4105
3.2.2.1.2 BDEW Medium Voltage Directive
3.2.2.1.3 DIN VDE 0100-551
3.2.2.2 Poland
3.2.2.3 Austria
3.2.2.4 UK
3.2.2.5 France
3.2.3 Asia Pacific
3.2.3.1 China
3.2.3.2 Australia
3.2.3.2.1 AS/NZS 5033:2021
3.2.3.3 India
3.2.3.4 Japan
3.2.4 Middle East & Africa
3.2.4.1 Egypt
3.2.5 Latin America
3.2.5.1 Brazil
3.2.5.1.1 Convenio ICMS 16/2015
3.2.5.2 Chile
3.2.5.3 Mexico
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.1.1 Higher output and cost-efficiency
3.3.1.2 Favorable regulatory inclination toward sustainable energy
3.3.1.3 Positive outlook toward clean energy
3.3.1.4 Large-scale renewable integration
3.3.2 Industry pitfalls & challenges
3.3.2.1 Availability of auxiliary technologies
3.4 Growth potential analysis
3.5 Porter's Analysis
3.5.1 Bargaining power of suppliers
3.5.2 Bargaining power of buyers
3.5.3 Threat of new entrants
3.5.4 Threat of substitutes
3.6 PESTEL Analysis
Chapter 4 Competitive Benchmarking
4.1 Competitive landscape, 2022
4.1.1 Strategy dashboard
4.1.1.1 Enphase Energy
4.1.1.1.1 Product deployment
4.1.1.1.2 Business expansion
4.1.1.1.3 Partnership
4.1.1.1.4 Acquisition
4.1.1.2 Altenergy Power System Inc.
4.1.1.2.1 Agreement
4.1.1.2.2 Collaboration
4.1.1.3 Sensata Technologies, Inc.
4.1.1.3.1 Mergers & Acquisitions
4.1.1.4 Solar Edge Technologies Inc
4.1.1.4.1 Agreement
4.1.1.4.2 Partnership
4.1.1.5 Northern Electric Power Technology Inc.
4.1.1.5.1 Expansion
4.1.1.6 Sparq Systems
4.1.1.6.1 Product Development
4.1.1.6.2 Agreement
4.1.1.7 SMA Solar Technology AG
4.1.1.7.1 Supply Order
4.1.1.7.2 Market Expansion
4.1.1.7.3 Partnership
4.1.1.7.4 Agreement
4.1.1.8 Hoymiles
4.1.1.8.1 Product development
4.1.1.9 TSUNESS Co., Ltd.
4.1.1.9.1 Product development
4.2 Innovation & sustainability landscape
4.2.1 FIMER Group
4.2.2 Enphase Energy
4.2.3 Altenergy Power System Inc.
4.2.4 Northern Electric Power Technology Inc.
4.2.5 SMA Solar Technology AG
4.2.6 Sparq Systems
4.2.7 Hoymiles
Chapter 5 Micro Inverter Market, By Phase
5.1 Key phase trends
5.2 Single phase
5.2.1 Global market from single phase, 2019 - 2032
5.2.2 Global market from single phase, by region, 2019 - 2032
5.3 Three phase
5.3.1 Global market from three phase, 2019 - 2032
5.3.2 Global market from three phase, by region, 2019 - 2032
Chapter 6 Micro Inverter Market, By Connectivity
6.1 Key connectivity trends
6.2 Standalone
6.2.1 Global market from standalone, 2019 - 2032
6.2.2 Global market from standalone, by region, 2019 - 2032
6.3 On grid
6.3.1 Global market from on grid, 2019 - 2032
6.3.2 Global market from on grid, by region, 2019 - 2032
Chapter 7 Micro Inverter Market, By Application
7.1 Key application trends
7.2 Residential
7.2.1 Global market from residential, 2019 - 2032
7.2.2 Global market from residential, by region, 2019 - 2032
7.3 Commercial
7.3.1 Global market from commercial, 2019 - 2032
7.3.2 Global market from commercial, by region, 2019 - 2032
Chapter 8 Micro Inverter Market, By Region
8.1 Key regional trends
8.2 North America
8.2.1 North America market, 2019 – 2032
8.2.2 North America market by phase, 2019 – 2032
8.2.3 North America market by connectivity, 2019 – 2032
8.2.4 North America market by application, 2019 – 2032
8.2.5 U.S.
8.2.5.1 U.S. market, 2019 – 2032
8.2.5.2 U.S. market by phase, 2019 – 2032
8.2.5.3 U.S. market by connectivity, 2019 – 2032
8.2.5.4 U.S. market by application, 2019 – 2032
8.2.6 Canada
8.2.6.1 Canada market, 2019 – 2032
8.2.6.2 Canada market by phase, 2019 – 2032
8.2.6.3 Canada market by connectivity, 2019 – 2032
8.2.6.4 Canada market by application, 2019 – 2032
8.3 Europe
8.3.1 Europe market, 2019 – 2032
8.3.2 Europe market by phase, 2019 – 2032
8.3.3 Europe market by connectivity, 2019 – 2032
8.3.4 Europe market by application, 2019 – 2032
8.3.5 Germany
8.3.5.1 Germany market, 2019 – 2032
8.3.5.2 Germany market by phase, 2019 – 2032
8.3.5.3 Germany market by connectivity, 2019 – 2032
8.3.5.4 Germany market by application, 2019 – 2032
8.3.6 Italy
8.3.6.1 Italy market, 2019 – 2032
8.3.6.2 Italy market by phase, 2019 – 2032
8.3.6.3 Italy market by connectivity, 2019 – 2032
8.3.6.4 Italy market by application, 2019 – 2032
8.3.7 Poland
8.3.7.1 Poland market, 2019 – 2032
8.3.7.2 Poland market by phase, 2019 – 2032
8.3.7.3 Poland market by connectivity, 2019 – 2032
8.3.7.4 Poland market by application, 2019 – 2032
8.3.8 Netherlands
8.3.8.1 Netherlands market, 2019 – 2032
8.3.8.2 Netherlands market by phase, 2019 – 2032
8.3.8.3 Netherlands market by connectivity, 2019 – 2032
8.3.8.4 Netherlands market by application, 2019 – 2032
8.3.9 Austria
8.3.9.1 Austria market, 2019 – 2032
8.3.9.2 Austria market by phase, 2019 – 2032
8.3.9.3 Austria market by connectivity, 2019 – 2032
8.3.9.4 Austria market by application, 2019 – 2032
8.3.10 UK
8.3.10.1 UK market, 2019 – 2032
8.3.10.2 UK market by phase, 2019 – 2032
8.3.10.3 UK market by connectivity, 2019 – 2032
8.3.10.4 UK market by application, 2019 – 2032
8.3.11 France
8.3.11.1 France market, 2019 – 2032
8.3.11.2 France market by phase, 2019 – 2032
8.3.11.3 France market by connectivity, 2019 – 2032
8.3.11.4 France market by application, 2019 – 2032
8.3.12 Spain
8.3.12.1 Spain market, 2019 – 2032
8.3.12.2 Spain market by phase, 2019 – 2032
8.3.12.3 Spain market by connectivity, 2019 – 2032
8.3.12.4 Spain market by application, 2019 – 2032
8.3.13 Belgium
8.3.13.1 Belgium market, 2019 – 2032
8.3.13.2 Belgium market by phase, 2019 – 2032
8.3.13.3 Belgium market by connectivity, 2019 – 2032
8.3.13.4 Belgium market by application, 2019 – 2032
8.4 Asia Pacific
8.4.1 Asia Pacific market, 2019 – 2032
8.4.2 Asia Pacific market by phase, 2019 – 2032
8.4.3 Asia Pacific market by connectivity, 2019 – 2032
8.4.4 Asia Pacific market by application, 2019 – 2032
8.4.5 China
8.4.5.1 China market, 2019 – 2032
8.4.5.2 China market by phase, 2019 – 2032
8.4.5.3 China market by connectivity, 2019 – 2032
8.4.5.4 China market by application, 2019 – 2032
8.4.6 Australia
8.4.6.1 Australia market, 2019 – 2032
8.4.6.2 Australia market by phase, 2019 – 2032
8.4.6.3 Australia market by connectivity, 2019 – 2032
8.4.6.4 Australia market by application, 2019 – 2032
8.4.7 India
8.4.7.1 India market, 2019 – 2032
8.4.7.2 India market by phase, 2019 – 2032
8.4.7.3 India market by connectivity, 2019 – 2032
8.4.7.4 India market by application, 2019 – 2032
8.4.8 Japan
8.4.8.1 Japan market, 2019 – 2032
8.4.8.2 Japan market by phase, 2019 – 2032
8.4.8.3 Japan market by connectivity, 2019 – 2032
8.4.8.4 Japan market by application, 2019 – 2032
8.4.9 South Korea
8.4.9.1 South Korea market, 2019 – 2032
8.4.9.2 South Korea market by phase, 2019 – 2032
8.4.9.3 South Korea market by connectivity, 2019 – 2032
8.4.9.4 South Korea market by application, 2019 – 2032
8.5 Middle East & Africa
8.5.1 Middle East & Africa market, 2019 – 2032
8.5.2 Middle East & Africa market by phase, 2019 – 2032
8.5.3 Middle East & Africa market by connectivity, 2019 – 2032
8.5.4 Middle East & Africa market by application, 2019 – 2032
8.5.5 Israel
8.5.5.1 Israel market, 2019 – 2032
8.5.5.2 Israel market by phase, 2019 – 2032
8.5.5.3 Israel market by connectivity, 2019 – 2032
8.5.5.4 Israel market by application, 2019 – 2032
8.5.6 Saudi Arabia
8.5.6.1 Saudi Arabia market, 2019 – 2032
8.5.6.2 Saudi Arabia market by phase, 2019 – 2032
8.5.6.3 Saudi Arabia market by connectivity, 2019 – 2032
8.5.6.4 Saudi Arabia market by application, 2019 – 2032
8.5.7 UAE
8.5.7.1 UAE market, 2019 – 2032
8.5.7.2 UAE market by phase, 2019 – 2032
8.5.7.3 UAE market by connectivity, 2019 – 2032
8.5.7.4 UAE market by application, 2019 – 2032
8.5.8 South Africa
8.5.8.1 South Africa market, 2019 – 2032
8.5.8.2 South Africa market by phase, 2019 – 2032
8.5.8.3 South Africa market by connectivity, 2019 – 2032
8.5.8.4 South Africa market by application, 2019 – 2032
8.5.9 Egypt
8.5.9.1 Egypt market, 2019 – 2032
8.5.9.2 Egypt market by phase, 2019 – 2032
8.5.9.3 Egypt market by connectivity, 2019 – 2032
8.5.9.4 Egypt market by application, 2019 – 2032
8.5.10 Nigeria
8.5.10.1 Nigeria market, 2019 – 2032
8.5.10.2 Nigeria market by phase, 2019 – 2032
8.5.10.3 Nigeria market by connectivity, 2019 – 2032
8.5.10.4 Nigeria market by application, 2019 – 2032
8.6 Latin America
8.6.1 Latin America market, 2019 – 2032
8.6.2 Latin America market by phase, 2019 – 2032
8.6.3 Latin America market by connectivity, 2019 – 2032
8.6.4 Latin America market by application, 2019 – 2032
8.6.5 Brazil
8.6.5.1 Brazil market, 2019 – 2032
8.6.5.2 Brazil market by phase, 2019 – 2032
8.6.5.3 Brazil market by connectivity, 2019 – 2032
8.6.5.4 Brazil market by application, 2019 – 2032
8.6.6 Chile
8.6.6.1 Chile market, 2019 – 2032
8.6.6.2 Chile market by phase, 2019 – 2032
8.6.6.3 Chile market by connectivity, 2019 – 2032
8.6.6.4 Chile market by application, 2019 – 2032
8.6.7 Mexico
8.6.7.1 Mexico market, 2019 – 2032
8.6.7.2 Mexico market by phase, 2019 – 2032
8.6.7.3 Mexico market by connectivity, 2019 – 2032