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Solar Microinverter Market Set to Surge from USD 1.02 Billion in 2017 to USD X.XX Billion by 2030, Fueled by Rising Global Demand

05-20-2024 04:10 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Dataintelo

/ PR Agency: Dataintelo
Dataintelo

Dataintelo

The Global Solar Microinverter Market is surging with a projected growth to reach USD X.XX ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง by 2030, up from USD 1.02 ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง in 2017, at a Compound Annual Growth Rate (๐‚๐€๐†๐‘) of 10.5%, according to a recent report by Dataintelo. This impressive growth is attributed to the rising global demand for grid-connected and off-grid solar micro inverters.

Solar microinverters are a fundamental component of solar power generation, converting direct current (DC) output from solar panels into alternating current (AC) used by household appliances and the power grid. The increasing preference for renewable energy sources, government subsidies promoting the use of solar power, and an overall shift towards energy efficiency are factors contributing to the growth of the market.

Despite the initial price volatility, with the cost per watt of solar power decreasing, solar microinverters are becoming a popular option for residential, commercial, and utility-scale solar installations. The report sited benefits such as improved system design flexibility, enhanced energy yield, substantial reduction in system installation time and real-time performance tracking of individual panels as the primary factors driving the adoption of microinverters.

The market dynamics studied by Dataintelo covered by this comprehensive report also included detail about the regional market prospects. North America is likely to hold a significant share of the market, thanks to growing solar power installations in the United States and Canada. On the other hand, Europe and Asia Pacific regions are also expected to see a significant growth rate in the forecast period due to increasing investments in renewable energy

๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐š ๐Ÿ๐ซ๐ž๐ž ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ @ https://dataintelo.com/request-sample/240331

๐“๐ก๐ข๐ฌ ๐ข๐ฌ ๐จ๐ง๐ž ๐จ๐Ÿ ๐ญ๐ก๐ž ๐ฆ๐จ๐ฌ๐ญ ๐๐ž๐ญ๐š๐ข๐ฅ๐ž๐ ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐š๐ง๐ ๐œ๐จ๐ฏ๐ž๐ซ ๐ญ๐ก๐ž ๐Ÿ๐จ๐ฅ๐ฅ๐จ๐ฐ๐ข๐ง๐  ๐ฌ๐ž๐ ๐ฆ๐ž๐ง๐ญ๐ฌ:

The solar microinverter market has been segmented on the basis of๐“๐ฒ๐ฉ๐ž
โ— Grid-Connected
โ— Grid-Off

๐€๐ฉ๐ฉ๐ฅ๐ข๐œ๐š๐ญ๐ข๐จ๐ง
โ— Residential
โ— Commercial
โ— Industrial

๐‚๐จ๐ฆ๐ฉ๐จ๐ง๐ž๐ง๐ญ
โ— Hardware
โ— Software
โ— Services

๐’๐ฒ๐ฌ๐ญ๐ž๐ฆ ๐’๐ข๐ณ๐ž
โ— Up to 10 kW
โ— 11 kW-100 kW
โ— Above 100 kW

๐’๐š๐ฅ๐ž๐ฌ ๐‚๐ก๐š๐ง๐ง๐ž๐ฅ
โ— Direct
โ— Indirect

๐‘๐ž๐ ๐ข๐จ๐ง
โ— Asia Pacific
โ— North America
โ— Latin America
โ— Europe
โ— Middle East & Africa

๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ
โ— Enphase Energy
โ— SolarEdge Technologies
โ— SMA
โ— SunPower
โ— Power-One
โ— Sungrow
โ— AP System
โ— Samil Power



๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ:

The global Solar Microinverter market has been divided into various segments including type, application, component, system size, and sales channel. By type, the market has been categorized into grid-connected and off-grid variants. The usage and demand for these types depend on the connectivity and power supply availability in various regions. Following this, the market is also segmented on the basis of application which includes residential, commercial, and industrial areas. Each of these sectors represent varying amount of potential for the growth and development of the industry. In terms of component, the primary divisions have been marked as hardware, software, and services, giving a comprehensive picture of the different parts making up the product offering.

๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ:

The Solar Microinverter market spans the regions of Asia-Pacific, North America, Latin America, Europe, and Middle East & Africa, each displaying distinct market characteristics and growth trends. Asia-Pacific is seeing increased adoption of solar energy technology, driven by growing environmental consciousness and government initiatives towards sustainable practices. North America, being one of the early adopters of these technologies, continues to hold significant market share. Europe, too, is leveraging its strong focus on sustainable and green practices to grow in this sector. Latin America and Middle East & Africa, while currently smaller markets, hold immense potential due to increasing investment in sustainable energy infrastructure. Key players operating in the solar microinverter market include Enphase Energy, SolarEdge Technologies, SMA, SunPower, Power-One, Sungrow, AP System, and Samil Power. They continue to define, dictate and diversify the market dynamics based on various regional factors

๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐š ๐Ÿ๐ซ๐ž๐ž ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ @ https://dataintelo.com/request-sample/240331

๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ƒ๐ซ๐ข๐ฏ๐ž๐ซ๐ฌ for Solar Microinverter market:

1. Environmental Awareness: Increasing environmental awareness among the population and the urgency to switch to renewable sources of energy is a significant driver for the solar microinverter market.

2. Government Policies: Favorable government policies, including incentives and subsidies for the installation of solar panels, also boost the solar microinverter market.

3. Technological Advancements: The ongoing technological advancements in the photovoltaic technology is propelling the demand for solar microinverters.

4. Energy Independence: The push for energy independence and security, and the desire to reduce dependence on fossil fuels drive the market growth.

5. Decline in Solar Energy Cost: A significant reduction in the cost of solar energy generation over the past few years is encouraging more people to opt for solar energy, thus driving the demand for solar microinverters.

๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐Ÿ๐จ๐ซSolar Microinverter market:

1. Untapped Markets: Developing and underdeveloped countries with ample sunlight offer lucrative ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐Ÿ๐จ๐ซthe growth of the solar microinverter market.

2. Grid-Connected Systems: The growing preference for grid-connected systems over standalone systems provides significant ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐Ÿ๐จ๐ซthe solar microinverter market.

3. Off-grid Power Supply: The increasing demand for off-grid electricity supply in remote locations and regions with frequent power outages offers potential growth opportunities.

4. Adoption in Residential Sector: Increased adoption of solar energy in residential applications due to its cost-efficiency and simplicity of use presents attractive ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐Ÿ๐จ๐ซmarket expansion.

5. Demand in Commercial and Industrial Sectors: Rising demand for solar microinverters from commercial and industrial sectors for utility-scale installations offers immense growth opportunities.

6. Market Consolidation: Industry consolidation through mergers and acquisitions offers market players growth opportunities through an expanded customer base, enhanced technical capabilities, and improved market penetration

๐˜๐จ๐ฎ ๐œ๐š๐ง ๐๐ข๐ซ๐ž๐œ๐ญ๐ฅ๐ฒ ๐›๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐Ÿ๐ซ๐จ๐ฆ: https://dataintelo.com/checkout/240331

This report should be purchased by individuals or businesses that are involved in decision making processes that require detailed and up-to-date market research, such as business analysts, project and program managers, executives and board members, investment analysts, and data scientists.

Dataintelo is a reputable market intelligence firm with a strong track record of providing high-quality market research reports. Here are some positive aspects of Dataintelo:

1. Comprehensive Reports: Dataintelo provides extensive analysis on a wide range of industries and markets, ensuring you have all the information you need to make informed decisions.

2. Expert Insights: Reports are prepared by a team of expert analysts who bring in-depth knowledge and understanding of the industry.

3. Customization: Dataintelo offers customization of reports according to client requirements, ensuring the research meets specific business needs.

4. Accurate and Reliable: Dataintelo is known for its high standards of accuracy and reliability, ensuring you can trust the data in your decision-making process.

5. Updated Information: Dataintelo continuously updates its research to ensure the most recent industry trends and developments are included.

6. Customer Support: Dataintelo provides excellent customer support, ensuring any questions or concerns are handled promptly and professionally.

7. Broad Clientele: The company has worked with various global clients across different sectors which enrich their perspective and analysis.

8. Affordable Solutions: Compared to other market research companies, Dataintelo provides affordable solutions without compromising on the quality or depth of the research

Contact Us :
Dataintelo
Name - Alex Mathews
Phone No.: +1 909 414 1393
Email - sales@dataintelo.com
Website - https://dataintelo.com
Address - 500 East E Street, Ontario, CA 91764, United States.

๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐œ๐š๐ง ๐›๐ž ๐œ๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐ž๐ ๐š๐ฌ ๐ฉ๐ž๐ซ ๐ฒ๐จ๐ฎ๐ซ ๐ง๐ž๐ž๐.

๐„๐ฆ๐š๐ข๐ฅ ๐ฎ๐ฌ ๐จ๐ง - ๐ฌ๐š๐ฅ๐ž๐ฌ@๐๐š๐ญ๐š๐ข๐ง๐ญ๐ž๐ฅ๐จ.๐œ๐จ๐ฆ

๐€๐›๐จ๐ฎ๐ญ ๐ƒ๐š๐ญ๐š๐ข๐ง๐ญ๐ž๐ฅ๐จ:

๐ƒ๐š๐ญ๐š๐ข๐ง๐ญ๐ž๐ฅ๐จ boasts extensive experience in creating tailored Market research reports across diverse industry verticals. With in-depth Market analysis, creative business strategies for new entrants, and insights into the current Market scenario, our reports undergo intensive primary and secondary research, interviews, and consumer surveys.

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