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

Microinverter Trends and Forecast

The future of the global microinverter market looks promising with opportunities in the residential, commercial, and PV power plant markets. The global microinverter market is expected to reach an estimated $8.7 billion by 2030 with a CAGR of 18.2% from 2024 to 2030. The major drivers for this market are increasing demand for efficient and reliable PV solutions and modernization of electric grids, coupled with smart grid initiatives.

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

Microinverter by Segment

The study includes a forecast for the global microinverter by type, communication technology, offering, application, and region.

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

• Single Phase
• Three Phase

Microinverter Market by Communication Technology [Shipment Analysis by Value from 2018 to 2030]:

• Wired
• Wireless

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

• Hardware
• Software

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

• Residential
• Commercial
• PV Power Plant
• Others

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

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

List of 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 microinverter companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the microinverter companies profiled in this report include-

• Darfon Electronics
• Altenergy Power System
• Renesola
• Chilicon Power
• AEconversion

Microinverter Market Insights

Lucintel forecasts that hardware is expected to witness higher growth over the forecast period due to largest number of components such as capacitors, sensors, microcontroller units (MCUs), and others, and also transmission of AC power through wires and cables.

Within this market, residential will remain the largest segment due to growing number of residential solar rooftop pv installationswith supportive government policies worldwide.

North America is expected to witness highest growth over the forecast period due to it has largest share largest number of micro-inverter installations in the US and Canada.

Features of the Global Microinverter Market

Market Size Estimates: 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: Microinverter market size by various segments, such as by type, communication technology, offering, application, and region in terms of ($B).

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

Growth Opportunities: Analysis of growth opportunities in different type, communication technology, offering, application, and regions for the microinverter market.

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

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

FAQ

Q.1 What is the microinverter market size?

Answer: The global microinverter market is expected to reach an estimated $8.7 billion by 2030.

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

Answer: The global microinverter market is expected to grow with a CAGR of 18.2% from 2024 to 2030.

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

Answer: The major drivers for this market are increasing demand for efficient and reliable pv solutions and modernization of electric grids, coupled with smart grid initiatives.

Q4. What are the major segments for microinverter market?

Answer: The future of the microinverter market looks promising with opportunities in the residential, commercial, and PV power plant markets.

Q5. Who are the key microinverter market companies?

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

• Darfon Electronics
• Altenergy Power System
• ReneSola
• Chilicon Power
• AEconversion

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

Answer: Lucintel forecasts that hardware is expected to witness higher growth over the forecast period due to largest number of components such as capacitors, sensors, microcontroller units (MCUs), and others, and also transmission of AC power through wires and cables.

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

Answer: North America is expected to witness highest growth over the forecast period due to it has largest share largest number of micro-inverter installations in the US and Canada.

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 microinverter market by type (single phase and three phase), communication technology (wired and wireless), offering (hardware and software), application (residential, commercial, PV power plant, 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?