Solar Microinverter Market Report: Trends, Forecast and Competitive Analysis to 2030

Solar Microinverter Trends and Forecast

The future of the global solar microinverter market looks promising with opportunities in the residential and commercial markets. The global solar microinverter market is expected to reach an estimated $1.3 billion by 2030 with a CAGR of 18.5% from 2024 to 2030. The major drivers for this market are increasing embrace of solar energy as a means to decrease carbon emissions and uphold sustainability principles, growing trend of optimizing individual solar panels for enhanced performance, and increasing need for improved effectiveness and dependability.

A more than 150-page report is developed to help in your business decisions.

Solar Microinverter by Segment

The study includes a forecast for the global solar microinverter by component, connectivity, type, application, and region.

Solar Microinverter Market by Component [Shipment Analysis by Value from 2018 to 2030]:

• Hardware
• Software

Solar Microinverter Market by Connectivity [Shipment Analysis by Value from 2018 to 2030]:

• Standalone
• On-Grid

Solar Microinverter Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Single Phase
• Three Phase

Solar Microinverter Market by Connectivity [Shipment Analysis by Value from 2018 to 2030]:

• Residential
• Commercial
• Others

Solar Microinverter Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Solar Microinverter Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies solar microinverter companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the solar microinverter companies profiled in this report include-

• Chilicon Power
• Enphase Energy
• Altenergy Power System
• SunPower Corporation
• Darfon Electronics Corporation
• Delta Energy Systems
• Siemens
• Alencon Systems
• Renesola
• Enluxsolar

Solar Microinverter Market Insights

Lucintel forecasts that hardware will remain the larger segment over the forecast period because hardware components encompass the tangible parts within a microinverter unit, including semiconductor devices, capacitors, transformers, and thermal management systems, as well as, it provides high stable energy production, reduces maintenance requirements, and increases customer satisfaction.

Within this market, residential will remain the larger segment over the forecast period because in residential settings the microinverters are seamlessly incorporated with individual solar panels ao as to effectively enhancing energy production by minimizing shading and panel mismatch challenges that results in each panel operating independently, thereby maximizing the overall system's output.

APAC will remain the largest region over the forecast period due to rising need for energy to power a multitude of activities, supportive government programs, increasing environmental consciousness, and declining costs of solar panels in this region.

Features of the Global Solar Microinverter Market

Market Size Estimates: Solar microinverter market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Solar microinverter market size by various segments, such as by component, connectivity, type, application, and region in terms of ($B).

Regional Analysis: Solar microinverter market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different components, connectivity, types, applications, and regions for the solar microinverter market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the solar microinverter market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the solar microinverter market size?

Answer: The global solar microinverter market is expected to reach an estimated $1.3 billion by 2030.

Q.2 What is the growth forecast for solar microinverter market?

Answer: The global solar microinverter market is expected to grow with a CAGR of 18.5% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the solar microinverter market?

Answer: The major drivers for this market are increasing embrace of solar energy as a means to decrease carbon emissions and uphold sustainability principles, growing trend of optimizing individual solar panels for enhanced performance, and increasing need for improved effectiveness and dependability.

Q4. What are the major segments for solar microinverter market?

Answer: The future of the solar microinverter market looks promising with opportunities in the residential and commercial markets.

Q5. Who are the key solar microinverter market companies?

Answer: Some of the key solar microinverter companies are as follows:

• Chilicon Power
• Enphase Energy
• Altenergy Power System
• SunPower Corporation
• Darfon Electronics Corporation
• Delta Energy Systems
• Siemens
• Alencon Systems
• Renesola
• Enluxsolar

Q6. Which solar microinverter market segment will be the largest in future?

Answer: Lucintel forecasts that hardware will remain the larger segment over the forecast period because hardware components encompass the tangible parts within a microinverter unit, including semiconductor devices, capacitors, transformers, and thermal management systems, as well as, it provides high stable energy production, reduces maintenance requirements, and increases customer satisfaction.

Q7. In solar microinverter market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period due to rising need for energy to power a multitude of activities, supportive government programs, increasing environmental consciousness, and declining costs of solar panels in this region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the solar microinverter market by component (hardware and software), connectivity (standalone and on-grid), type (single phase and three phase), application (residential, commercial, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?