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[English Market Research Report] Global Market for Microinverters

[English Market Research Report] Global Market for Microinverters

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The global microinverter market reached 2.8 billion USD in 2022 and is projected to grow at a CAGR of 20.5% during the forecast period from 2023 to 2030, reaching 8.5 billion USD by 2030. The microinverter market is driven by ongoing research and development initiatives and significant cost reductions in microinverters. Additionally, the market benefits greatly from their miniaturization and diversity. Furthermore, the increasing customer demand for modularity, safety, and maximum energy harvesting is expected to rapidly drive the market during the forecast period.

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[English Market Research Report] Global Market for Microinverters

[English Market Research Report] Global Market for Microinverters

Micro Inverter Global Market Report 2022

The global microinverter market size is projected to grow from USD 1.93 billion in 2021 to USD 2.35 billion in 2022, at a CAGR of 21.9%, and to USD 5.45 billion by 2026, at a CAGR of 23.4%. The increase in rooftop installations of residential solar power systems is expected to drive the growth of the microinverter market. Companies operating in the microinverter market are increasingly advancing the development of innovative products equipped with advanced technologies such as remote performance monitoring and easy installation, with technological innovation shaping the market. This report provides a systematic overview of the global microinverter market, including market characteristics, trends and strategies, market analysis, market performance and forecasts (2016-2026, 2031), and competitive landscape.

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[English Market Research Report] Microinverter Market

[English Market Research Report] Microinverter Market

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The microinverter market is expected to record a CAGR of 19.6% during the forecast period. Factors driving the growth of the microinverter market include the realization of module-level monitoring, ease of installation, improved design flexibility, elimination of DC switching points, and superior safety compared to conventional inverters.

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[English Market Research Report] Global Market for Microinverters

[English Market Research Report] Global Market for Microinverters

"Free samples" are currently being offered! Please check the application method from the [PDF download] button, or apply directly from the related links.

According to Stratistics MRC, the global market for microinverters was valued at $3.76 billion in 2022 and is projected to reach $12.92 billion by 2028, growing at a CAGR of 22.8% during the forecast period. Unlike traditional inverters that are installed away from the solar panel array, microinverters have many technical advantages compared to other types of solar microinverters, such as string and central inverters. This microgrid tie inverter has the capability to control and monitor multiple solar panels simultaneously. Additionally, by being installed under the solar panels, it can provide stable power supply even when the solar panels are shaded, earning high praise from end users. According to the Solar Power Europe report "Global Market Outlook for Solar Power/2020-2024," in 2019, many countries installed over 1GW of solar panels, with installations dropping from 11GW in 2018 to 5GW in the same year.

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[English Market Research Report] Global Market for Microinverters

[English Market Research Report] Global Market for Microinverters

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In the changed business environment after COVID-19, the global market for microinverters, estimated at 3.8 billion USD in 2022, is projected to reach a revised size of 20.1 billion USD by 2030, growing at a CAGR of 23% from 2022 to 2030. One of the segments analyzed in this report, hardware, is expected to grow at a CAGR of 21.6%, reaching 11.4 billion USD by the end of the analysis period. Considering the post-pandemic recovery, the growth in the software and services sector is expected to be revised to a CAGR of 25.1% over the next eight years.

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