MicroInverter Market Revenue Data Historic And Forecast Analysis

The global solar microinverter market reached a value of US$ 231 Million in 2021. Looking forward, expects the market to reach US$ 554 Million by 2027, exhibiting a CAGR of 15.5% during 2022-2027.

A solar microinverter is an electronic equipment which is used in photovoltaic (PV) cells for changing the waveform of the current. The inverter usually functions in a parallel circuit and is used for changing direct current (DC) into alternating current (AC). The PV cell system consists of several single solar panels, each comprising a microinverter. The device can separate power output from each panel and convert it into grid voltage. In comparison to conventional string converters, they have various advantages including the ability to maintain a consistent flow of power despite shading of panels, immense design flexibility, the capability to maximize power from solar panels through the Maximum Power Point Tracking (MPPT) technology and reduced risk of fire.

The market is driven by the increasing deployment of solar microgrids, along with the rising energy demand across both the commercial and industrial sectors. The increase in residential solar rooftop installations is also acting as another major growth-inducing factor. Additionally, the increasing utilization of Building-Integrated Photovoltaics (BIPV) is also augmenting the growth of the market. The BIPV is the integration of PV power generators into the building envelope materials that act as an ancillary or principal source of electrical power. Microinverters assist in maintaining the ambient temperatures while protecting the building against various fire hazards. Moreover, factors including growing product demand owing to its remote monitoring capabilities, increasing research and development (R&D) activities and the implementation of government initiatives to promote the use of renewable energy is further driving the growth of the market.

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Global MicroInverter Market: Segmentations

Global MicroInverter Market: Major Players
KACO
AROS Solar
Power Electronics
Omron
STECA
SMA
ABB
Danfoss
Ingeteam
Siemens
Fronius
TBEA
TMEIC
KEHUA Group
Sungrow Power
Satcon
Solar Edge
Green Power
Schneider
Kostal
Tabuchi
EAST
HuaWei
Enphase
Advanced Energy

Global MicroInverter Market: By Types
Stand-alone inverters
Grid-tie inverters
Battery backup inverters

Global MicroInverter Market: By Applications
Residential
Commercial
Other

Global MicroInverter Market: Regional Analysis
The countries covered in the regional analysis of the Global MicroInverter market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Key Questions Answered in This Report

1. What was the size of the global solar microinverter market in 2021?

2. What is the expected growth rate of the global solar microinverter market during 2022-2027?

3. What are the key factors driving the global solar microinverter market?

4. What has been the impact of COVID-19 on the global solar microinverter market?

5. What is the breakup of the global solar microinverter market based on the connectivity?

6. What is the breakup of the global solar microinverter market based on the component?

7. What is the breakup of the global solar microinverter market based on communication channel?

8. What is the breakup of the global solar microinverter market based on the type?

9. What is the breakup of the global solar microinverter market based on the application?

10. What are the key regions in the global solar microinverter market?

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