What is the global micro inverter market size?

The global micro inverter market size was valued at $2.4 billion in 2020. It is projected to reach $13.5 billion by 2030, growing at a CAGR of 19.7% from 2021 to 2030. A micro inverter is an electrical device that converts direct current (DC) from solar modules into alternating current (AC) in photovoltaic systems.

What is the global solar microinverter market?

The solar microinverter market accounts for around 12-16% of the global solar inverter market, finds FMI. Find your sweet spots for generating winning opportunities in this market. The global solar microinverters market grew at a CAGR of 14.2% between 2017 and 2021, according to historical data.

What is the global demand for solar microinverter?

[202 Pages Report] Global demand for solar microinverter is expected to be at a CAGR of 18.1% from 2022 to 2032, reaching a valuation of US$ 5,716.0 Million by 2032. The market is supported by: Global small and medium entrants and other venture capital-funded start-ups, most notably in developing regions

What is the current micro inverter market forecast?

The current market size for micro inverters is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency. The report includes the market size and forecast for key vendors in the micro inverter market. Porter’s five forces analysis illustrates the potency of the buyers.

How much is the US micro inverter market worth in 2022?

The U.S. Micro Inverter market was valued at over USD 1.1 billion in 2022. Shifting consumer focus toward solar energy's benefits, including its positive environmental impact and potential cost savings will foster the industry landscape.

What are the emerging micro inverter market trends?

Emerging micro inverter market trends indicate that the standalone micro inverter segment will grow at a relatively higher CAGR during the forecast period, owing to their compact size and ability to be installed in remote areas without grid connectivity. In fact, they have become highly sought-after products in residential buildings.