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Micro Inverter Market Trends

  • Report ID: GMI5202
  • Published Date: Aug 2023
  • Report Format: PDF

Micro Inverter Market Trends

Micro Inverter industry will witness an appreciable momentum owing to factors including improved energy harvesting efficiency in comparison to traditional string inverters coupled with real-time monitoring and data collection at the individual panel level. Technological advancements in the semiconductor technology and power electronics will lead to improved efficiency and reduced costs for microinverters. Ongoing proliferation of renewable energy sources including solar, has posed challenges to grid stability owing to their intermittent nature. However, microinverters with their ability to operate independently, contribute to grid stability by reducing voltage fluctuations and reactive power issues. In addition, they can be integrated into smart grid systems, thereby enabling advanced demand-response capabilities and grid management.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

Global market size for micro inverter in 2023 was valued at USD 2.51 million and is estimated to surpass USD 6.48 million by 2032.

On Grid micro inverters market is set to grow over 9% CAGR through 2032 on account of various advantages comprising higher energy yield, simplified design & installations, and enhanced safety of the solar systems during installation, maintenance, and emergencies.

Europe market is set to grow on account of surge in solar installations, both in residential and commercial sectors.

Darfon Electronics Corp., Enphase Energy, SMA Solar Technology AG, Altenergy Power System, Inc., Fimer Group, Chilicon Power, LLC, AEconversion GmbH & Co. KG, Envertech (Zhejiang Envertech Corporation Limited), Sensata Technologies, Inc., Northern Electric Power Technology Inc., among others.

Micro Inverter Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 17
  • Tables & Figures: 740
  • Countries covered: 21
  • Pages: 250
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