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Global Micro Inverter Market Report and Forecast 2023-2028

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    Report

  • 111 Pages
  • April 2023
  • Region: Global
  • Expert Market Research
  • ID: 5786946
According to the report by the publisher, the global micro inverter market attained a value of USD 2,559.1 million in 2022. Aided by the increasing demand for sustainable energy solutions and the rising adoption of solar power systems, the market is projected to further grow at a CAGR of 14.42% between 2023 and 2028 to reach a value of USD 5,454.7 million by 2028.

Micro inverters are a particular kind of solar inverter technology that transforms the direct current (DC) generated by solar panels into alternating current (AC), which may be used by home appliances and sent into the power grid. Unlike traditional string inverters, micro inverters are installed on each solar panel, enabling independent operation, and improving overall system efficiency. They offer several advantages over conventional inverters, such as increased power output, enhanced reliability, and simplified installation and maintenance.

The global micro inverter market growth is primarily driven by the increasing demand for sustainable energy solutions and the growing adoption of solar power systems. The need to reduce reliance on fossil fuels and growing climate change concerns have encouraged investment in renewable energy sources, particularly solar power. This, in turn, has helped the market adopt micro inverters more frequently.

Additionally, the growing focus on energy efficiency and the need to optimise power generation from solar systems have led to the development of advanced micro inverter technologies. The increasing adoption of these innovative products is expected to create new growth opportunities for the global micro inverter market during the forecast period.

The advancements in micro inverter technology and the increasing investment in research and development by market players are also expected to drive the growth of the market for micro inverters. The development of innovative micro inverter designs with enhanced efficiency, improved reliability, and better compatibility with various solar panel types is anticipated to further bolster the micro inverter market expansion.

Furthermore, the rising awareness of the benefits of micro inverters, such as increased power output, simplified installation, and enhanced system monitoring, is expected to contribute to the market growth. The increasing demand for smart and connected energy solutions, coupled with the growing consumer preference for reliable and efficient solar power systems, is anticipated to drive the micro inverter market growth during the forecast period.

Market Segmentation

The market can be divided based on technology, type, connection, end use, and region.

Market Breakup by Technology

  • Wired
  • Wireless

Market Breakup by Type

  • Single Phase
  • Three Phase

Market Breakup by Connection

  • Stand-Alone
  • Grid-Connected

Market Breakup by End Use

  • Residential
  • Commercial

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Competitive Landscape

This report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global micro inverter companies. Some of the major key players explored in the report by the publisher are as follows:
  • Enphase Energy, Inc
  • Siemens AG
  • Chilicon Power, LLC
  • Sparq Systems Inc
  • Darfon Electronics Corporation
  • Altenergy Power System Inc
  • Others

About the Publisher

Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.

Our high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.

Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation's future success by acquiring one of these reports today.

*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.

Table of Contents

1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Micro Inverter Market Analysis
8.1 Key Industry Highlights
8.2 Global Micro Inverter Historical Market (2018-2022)
8.3 Global Micro Inverter Market Forecast (2023-2028)
8.4 Global Micro Inverter Market by Technology
8.4.1 Wired
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Wireless
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.5 Global Micro Inverter Market by Type
8.5.1 Single Phase
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Three Phase
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Micro Inverter Market by Connection
8.6.1 Stand-Alone
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Grid-Connected
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.7 Global Micro Inverter Market by End Use
8.7.1 Residential
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Commercial
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.8 Global Micro Inverter Market by Region
8.8.1 North America
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2022)
8.8.1.3 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2022)
8.8.2.3 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2022)
8.8.3.3 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2018-2022)
8.8.4.3 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Market Share
8.8.5.2 Historical Trend (2018-2022)
8.8.5.3 Forecast Trend (2023-2028)
9 North America Micro Inverter Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Micro Inverter Market Analysis
10.1 France
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 Spain
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Poland
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 The Netherlands
10.5.1 Market Share
10.5.2 Historical Trend (2018-2022)
10.5.3 Forecast Trend (2023-2028)
10.6 Others
11 Asia Pacific Micro Inverter Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Micro Inverter Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Micro Inverter Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 South Africa
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Enphase Energy, Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Siemens AG
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Chilicon Power, LLC
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Sparq Systems Inc.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Darfon Electronics Corporation
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Altenergy Power System Inc.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Others
17 Key Trends and Developments in the Market

Companies Mentioned

  • Enphase Energy, Inc.
  • Siemens AG
  • Chilicon Power, LLC
  • Sparq Systems Inc.
  • Darfon Electronics Corporation
  • Altenergy Power System Inc.

Methodology

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