Executive Summary

Azoth Analytics has released a research report titled "Global MicroInverter Market (2023 Edition)" which provides a complete analysis of the Global MicroInverter Market industry in terms of market segmentation by Product (Single-phase, Three-phase), Connectivity (On-grid, Off-grid), Power Rating (<250W, 250W-500W, >500W) and End-user (Residential, Commercial, Utility). The report analyzes the market by region and by country for the historical period of 2019-2022, the estimated year of 2023 and the forecast period of 2024-2029.

The research study also assesses market growth indicators, restraints, supply and demand risk, and other important statistics, as well as a full assessment of current and future market trends that are relevant to the market's evolution. During the forecast period, 2024-2029, the Global MicroInverter Market is expected to expand at a CAGR of 17.8%. The demand for improved performance and monitoring features in photovoltaic systems around the world, as well as rising solar PV installations, have all contributed to the market expansion of MicroInverter. The use of MLPE microinverters has also been aided by its capacity to reduce the impacts of shading, boost grid integration through sophisticated communication and monitoring systems, and optimize module-level power output.

The Global MicroInverter Market is expected to generate USD 5.72 billion by the end of 2029, up from USD 1.85 billion in 2022. With an emphasis on ecologically friendly production techniques and product design, sustainability continues to take on greater significance in the market. The global expansion of MicroInverter in the solar PV industry can be attributed to their ability to improve energy production, enhance monitoring capabilities, and provide a reliable solution for various solar applications while adapting to regional market dynamics and regulatory requirements.

Microinverters are becoming more efficient through innovations in power electronics and semiconductor technologies. Higher efficiency means less energy is lost during the DC-to-AC conversion process, resulting in higher energy yields from solar panels. This is particularly important in regions with suboptimal sunlight conditions or where space for solar installations is limited, as it maximizes the return on investment for solar projects.

Furthermore, advancements in microinverter communication and monitoring capabilities are enabling more sophisticated system control and real-time performance monitoring. This not only enhances system efficiency but also simplifies maintenance and troubleshooting. Installers and users can remotely monitor and diagnose issues, reducing downtime and minimizing maintenance costs.

Additionally, some microinverters are being designed to be compatible with energy storage solutions, allowing homeowners and businesses to harness the benefits of solar power even during grid outages or during night-time hours. As these technologies continue to evolve, they contribute significantly to the growing adoption of MicroInverter in the solar energy market, making them a promising choice for optimizing solar energy systems.



Scope of the Report:

• The report analyses the Global MicroInverter Market by Value (USD Million).

• The report analyses the Global MicroInverter Market by Volume (Million Units).

• The report presents the analysis of the Global MicroInverter Market for the historical period of 2019-2022, the estimated year 2023 and the forecast period of 2024-2029.

• The report analyses the Global MicroInverter Market by Product (Single-phase, Three-phase).

• The report analyses the MicroInverter Market by Connectivity (On-grid, Off-grid).

• The report analyses the MicroInverter Market by Power Rating (<250W, 250W-500W, >500W).

• The report analyses the MicroInverter Market by End-user (Residential, Commercial, Utility).

• The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by Product, by Connectivity, by Power Rating and by End-user.

• Also, the major opportunities, trends, drivers and challenges of the industry have been analyzed in the report.

• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Enphase Energy, Inc., Altenergy Power System, Inc., Hoymiles Power Electronics Inc, Generac Holdings Inc., ABB Ltd., Sensata Technologies, Inc., Darfon Solar, Tigo Energy, AEconversion GmbH & Co. KG, Sparq Systems.

1. Market Background

1.1 Scope and Product Outlook

1.2 Executive Summary

1.3 Research Methodology



2. Strategic Recommendations

2.1 Diversify Product Portfolio

2.2 Invest in Research and Development (R&D)



3. Global MicroInverter Market: An Analysis (2019-2029)

3.1 Impact Analysis of Macro Economic Factors on MicroInverter Market

3.2 Global MicroInverter Market: Solar Energy Landscape

3.3 Global MicroInverter Market: Per Capita Electricity Demand

3.4 Global MicroInverter Market: Solar PV Installations

3.5 Global MicroInverter Market: Solar Investment

3.6 Global MicroInverter Market: Inverter- Leadership, Shipment

3.7 Global MicroInverter Market: Dashboard

3.8 Global MicroInverter Market: Market Value Assessment, 2019-2029 (USD Million)

3.9 Global MicroInverter Market: Market Volume Assessment, 2019-2029 (Million Units)

3.10 Global MicroInverter Market: Average Selling Price Analysis of MicroInverter Globally

3.11 Impact of COVID-19 on MicroInverter Market

3.12 Global MicroInverter Market Segmentation: By Product

3.12.1 Global MicroInverter Market, By Product Overview

3.12.2 Global MicroInverter Market Size, By Single-phase, By Value, 2019H-2029F (USD Million & CAGR)

3.12.3 Global MicroInverter Market Size, By Three-phase, By Value, 2019H-2029F (USD Million & CAGR)

3.13 Global MicroInverter Market Segmentation: By Connectivity

3.13.1 Global MicroInverter Market, By Connectivity Overview

3.13.2 Global MicroInverter Market Size, By On-grid, By Value, 2019H-2029F (USD Million & CAGR)

3.13.3 Global MicroInverter Market Size, By Off-grid, By Value, 2019H-2029F (USD Million & CAGR)

3.14 Global MicroInverter Market Segmentation: By Power Rating

3.14.1 Global MicroInverter Market, By Power Rating Overview

3.14.2 Global MicroInverter Market Size, By <250W, By Value, 2019H-2029F (USD Million & CAGR)

3.14.3 Global MicroInverter Market Size, By 250W-500W, By Value, 2019H-2029F (USD Million & CAGR)

3.14.4 Global MicroInverter Market Size, By >500W, By Value, 2019H-2029F (USD Million & CAGR)

3.15 Global MicroInverter Market Segmentation: By End-user

3.15.1 Global MicroInverter Market, By End-user Overview

3.15.2 Global MicroInverter Market Size, By Residential, By Value, 2019H-2029F (USD Million & CAGR)

3.15.3 Global MicroInverter Market Size, By Commercial, By Value, 2019H-2029F (USD Million & CAGR)

3.15.4 Global MicroInverter Market Size, By Utility, By Value, 2019H-2029F (USD Million & CAGR)



4. Global MicroInverter Market: Regional Analysis

4.1 Regional Coverage of the Study

4.2 Regional Snapshot



5. Americas MicroInverter Market: An Analysis (2019-2029)

5.1 Americas MicroInverter Market: Snapshot

5.2 Americas MicroInverter Market: Market Size and CAGR, By Value, 2019-2029 (USD Million & CAGR)

5.3 Americas MicroInverter Market: Market Size and CAGR, By Volume, 2019-2029 (Million Units & CAGR)

5.4 Americas MicroInverter Market: Key Factors

5.5 Americas MicroInverter Market Segmentation: By Product

5.5.1 Americas MicroInverter Market, By Product Overview

5.5.2 Americas MicroInverter Market Size, By Single-phase, By Value, 2019H-2029F (USD Million & CAGR)

5.5.3 Americas MicroInverter Market Size, By Three-phase, By Value, 2019H-2029F (USD Million & CAGR)

5.6 Americas MicroInverter Market Segmentation: By Connectivity

5.6.1 Americas MicroInverter Market, By Connectivity Overview

5.6.2 Americas MicroInverter Market Size, By On-grid, By Value, 2019H-2029F (USD Million & CAGR)

5.6.3 Americas MicroInverter Market Size, By Off-grid, By Value, 2019H-2029F (USD Million & CAGR)

5.7 Americas MicroInverter Market Segmentation: By Power Rating

5.7.1 Americas MicroInverter Market, By Power Rating Overview

5.7.2 Americas MicroInverter Market Size, By <250W, By Value, 2019H-2029F (USD Million & CAGR)

5.7.3 Americas MicroInverter Market Size, By 250W-500W, By Value, 2019H-2029F (USD Million & CAGR)

5.7.4 Americas MicroInverter Market Size, By >500W, By Value, 2019H-2029F (USD Million & CAGR)

5.8 Americas MicroInverter Market Segmentation: By End-user

5.8.1 Americas MicroInverter Market, By End-user Overview

5.8.2 Americas MicroInverter Market Size, By Residential, By Value, 2019H-2029F (USD Million & CAGR)

5.8.3 Americas MicroInverter Market Size, By Commercial, By Value, 2019H-2029F (USD Million & CAGR)

5.8.4 Americas MicroInverter Market Size, By Utility, By Value, 2019H-2029F (USD Million & CAGR)

5.9 Americas MicroInverter Market Segmentation: By Country

5.9.1 Americas MicroInverter Market, By Country Overview

5.9.2 United States MicroInverter Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)

5.9.2.1 United States MicroInverter Market, By Product

5.9.2.2 United States MicroInverter Market, By Connectivity

5.9.2.3 United States MicroInverter Market, By Power Rating

5.9.2.4 United States MicroInverter Market, By End-user

5.9.3 Canada MicroInverter Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)

5.9.3.1 Canada MicroInverter Market, By Product

5.9.3.2 Canada MicroInverter Market, By Connectivity

5.9.3.3 Canada MicroInverter Market, By Power Rating

5.9.3.4 Canada MicroInverter Market, By End-user

5.9.4 Brazil MicroInverter Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)

5.9.4.1 Brazil MicroInverter Market, By Product

5.9.4.2 Brazil MicroInverter Market, By Connectivity

5.9.4.3 Brazil MicroInverter Market, By Power Rating

5.9.4.4 Brazil MicroInverter Market, By End-user

5.9.5 Rest of Americas MicroInverter Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)

5.9.5.1 Rest of Americas MicroInverter Market, By Product

5.9.5.2 Rest of Americas MicroInverter Market, By Connectivity

5.9.5.3 Rest of Americas MicroInverter Market, By Power Rating

5.9.5.4 Rest of Americas MicroInverter Market, By End-user



6. Europe MicroInverter Market: An Analysis (2019-2029)

6.1 Europe MicroInverter Market: Snapshot

6.2 Europe MicroInverter Market: Market Size and CAGR, By Value, 2019-2029 (USD Million & CAGR)

6.3 Europe MicroInverter Market: Market Size and CAGR, By Volume, 2019-2029 (Million Units & CAGR)

6.4 Europe MicroInverter Market: Key Factors

6.5 Europe MicroInverter Market Segmentation: By Product

6.5.1 Europe MicroInverter Market, By Product Overview

6.5.2 Europe MicroInverter Market Size, By Single-phase, By Value, 2019H-2029F (USD Million & CAGR)

6.5.3 Europe MicroInverter Market Size, By Three-phase, By Value, 2019H-2029F (USD Million & CAGR)

6.6 Europe MicroInverter Market Segmentation: By Connectivity

6.6.1 Europe MicroInverter Market, By Connectivity Overview

6.6.2 Europe MicroInverter Market Size, By On-grid, By Value, 2019H-2029F (USD Million & CAGR)

6.6.3 Europe MicroInverter Market Size, By Off-grid, By Value, 2019H-2029F (USD Million & CAGR)

6.7 Europe MicroInverter Market Segmentation: By Power Rating

6.7.1 Europe MicroInverter Market, By Power Rating Overview

6.7.2 Europe MicroInverter Market Size, By <250W, By Value, 2019H-2029F (USD Million & CAGR)

6.7.3 Europe MicroInverter Market Size, By 250W-500W, By Value, 2019H-2029F (USD Million & CAGR)

6.7.4 Europe MicroInverter Market Size, By >500W, By Value, 2019H-2029F (USD Million & CAGR)

6.8 Europe MicroInverter Market Segmentation: By End-user

6.8.1 Europe MicroInverter Market, By End-user Overview

6.8.2 Europe MicroInverter Market Size, By Residential, By Value, 2019H-2029F (USD Million & CAGR)

6.8.3 Europe MicroInverter Market Size, By Commercial, By Value, 2019H-2029F (USD Million & CAGR)

6.8.4 Europe MicroInverter Market Size, By Utility, By Value, 2019H-2029F (USD Million & CAGR)

6.9 Europe MicroInverter Market Segmentation: By Country

6.9.1 Europe MicroInverter Market, By Country Overview

6.9.2 Germany MicroInverter Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)

6.9.2.1 Germany MicroInverter Market, By Product

6.9.2.2 Germany MicroInverter Market, By Connectivity

6.9.2.3 Germany MicroInverter Market, By Power Rating

6.9.2.4 Germany MicroInverter Market, By End-user

6.9.3 United Kingdom MicroInverter Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)

6.9.3.1 United Kingdom MicroInverter Market, By Product

6.9.3.2 United Kingdom MicroInverter Market, By Connectivity

6.9.3.3 United Kingdom MicroInverter Market, By Power Rating

6.9.3.4 United Kingdom MicroInverter Market, By End-user

6.9.4 Italy MicroInverter Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)

6.9.4.1 Italy MicroInverter Market, By Product

6.9.4.2 Italy MicroInverter Market, By Connectivity

6.9.4.3 Italy MicroInverter Market, By Power Rating

6.9.4.4 Italy MicroInverter Market, By End-user

6.9.5 Rest of Europe MicroInverter Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)

6.9.5.1 Rest of Europe MicroInverter Market, By Product

6.9.5.2 Rest of Europe MicroInverter Market, By Connectivity

6.9.5.3 Rest of Europe MicroInverter Market, By Power Rating

6.9.5.4 Rest of Europe MicroInverter Market, By End-user



7. Asia Pacific MicroInverter Market: An Analysis (2019-2029)

7.1 Asia Pacific MicroInverter Market: Snapshot

7.2 Asia Pacific MicroInverter Market: Market Size and CAGR, By Value, 2019-2029 (USD Million & CAGR)

7.3 Asia Pacific MicroInverter Market: Market Size and CAGR, By Volume, 2019-2029 (Million Units & CAGR)

7.4 Asia Pacific MicroInverter Market: Key Factors

7.5 Asia Pacific MicroInverter Market Segmentation: By Product

7.5.1 Asia Pacific MicroInverter Market, By Product Overview

7.5.2 Asia Pacific MicroInverter Market Size, By Single-phase, By Value, 2019H-2029F (USD Million & CAGR)

7.5.3 Asia Pacific MicroInverter Market Size, By Three-phase, By Value, 2019H-2029F (USD Million & CAGR)

7.6 Asia Pacific MicroInverter Market Segmentation: By Connectivity

7.6.1 Asia Pacific MicroInverter Market, By Connectivity Overview

7.6.2 Asia Pacific MicroInverter Market Size, By On-grid, By Value, 2019H-2029F (USD Million & CAGR)

7.6.3 Asia Pacific MicroInverter Market Size, By Off-grid, By Value, 2019H-2029F (USD Million & CAGR)

7.7 Asia Pacific MicroInverter Market Segmentation: By Power Rating

7.7.1 Asia Pacific MicroInverter Market, By Power Rating Overview

7.7.2 Asia Pacific MicroInverter Market Size, By <250W, By Value, 2019H-2029F (USD Million & CAGR)

7.7.3 Asia Pacific MicroInverter Market Size, By 250W-500W, By Value, 2019H-2029F (USD Million & CAGR)

7.7.4 Asia Pacific MicroInverter Market Size, By >500W, By Value, 2019H-2029F (USD Million & CAGR)

7.8 Asia Pacific MicroInverter Market Segmentation: By End-user

7.8.1 Asia Pacific MicroInverter Market, By End-user Overview

7.8.2 Asia Pacific MicroInverter Market Size, By Residential, By Value, 2019H-2029F (USD Million & CAGR)

7.8.3 Asia Pacific MicroInverter Market Size, By Commercial, By Value, 2019H-2029F (USD Million & CAGR)

7.8.4 Asia Pacific MicroInverter Market Size, By Utility, By Value, 2019H-2029F (USD Million & CAGR)

7.9 Asia Pacific MicroInverter Market Segmentation: By Country

7.9.1 Asia Pacific MicroInverter Market, By Country Overview

7.9.2 China MicroInverter Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)

7.9.2.1 China MicroInverter Market, By Product

7.9.2.2 China MicroInverter Market, By Connectivity

7.9.2.3 China MicroInverter Market, By Power Rating

7.9.2.4 China MicroInverter Market, By End-user

7.9.3 Japan MicroInverter Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)

7.9.3.1 Japan MicroInverter Market, By Product

7.9.3.2 Japan MicroInverter Market, By Connectivity

7.9.3.3 Japan MicroInverter Market, By Power Rating

7.9.3.4 Japan MicroInverter Market, By End-user

7.9.4 South Korea MicroInverter Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)

7.9.4.1 South Korea MicroInverter Market, By Product

7.9.4.2 South Korea MicroInverter Market, By Connectivity

7.9.4.3 South Korea MicroInverter Market, By Power Rating

7.9.4.4 South Korea MicroInverter Market, By End-user

7.9.5 India MicroInverter Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)

7.9.5.1 India MicroInverter Market, By Product

7.9.5.2 India MicroInverter Market, By Connectivity

7.9.5.3 India MicroInverter Market, By Power Rating

7.9.5.4 India MicroInverter Market, By End-user

7.9.6 Rest of Asia Pacific MicroInverter Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)

7.9.6.1 Rest of Asia Pacific MicroInverter Market, By Product

7.9.6.2 Rest of Asia Pacific MicroInverter Market, By Connectivity

7.9.6.3 Rest of Asia Pacific MicroInverter Market, By Power Rating

7.9.6.4 Rest of Asia Pacific MicroInverter Market, By End-user



8. Middle East & Africa MicroInverter Market: An Analysis (2019-2029)

8.1 Middle East & Africa MicroInverter Market: Snapshot

8.2 Middle East & Africa MicroInverter Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)

8.3 Middle East & Africa MicroInverter Market: Market Size and CAGR, By Volume, 2019-2029 (Million Units & CAGR)

8.4 Middle East & Africa MicroInverter Market: Key Factors

8.5 Middle East & Africa MicroInverter Market Segmentation: By Product

8.5.1 Middle East & Africa MicroInverter Market, By Product Overview

8.5.2 Middle East & Africa MicroInverter Market Size, By Single-phase, By Value, 2019H-2029F (USD Million & CAGR)

8.5.3 Middle East & Africa MicroInverter Market Size, By Three-phase, By Value, 2019H-2029F (USD Million & CAGR)

8.6 Middle East & Africa MicroInverter Market Segmentation: By Connectivity

8.6.1 Middle East & Africa MicroInverter Market, By Connectivity Overview

8.6.2 Middle East & Africa MicroInverter Market Size, By On-grid, By Value, 2019H-2029F (USD Million & CAGR)

8.6.3 Middle East & Africa MicroInverter Market Size, By Off-grid, By Value, 2019H-2029F (USD Million & CAGR)

8.7 Middle East & Africa MicroInverter Market Segmentation: By Power Rating

8.7.1 Middle East & Africa MicroInverter Market, By Power Rating Overview

8.7.2 Middle East & Africa MicroInverter Market Size, By <250W, By Value, 2019H-2029F (USD Million & CAGR)

8.7.3 Middle East & Africa MicroInverter Market Size, By 250W-500W, By Value, 2019H-2029F (USD Million & CAGR)

8.7.4 Middle East & Africa MicroInverter Market Size, By >500W, By Value, 2019H-2029F (USD Million & CAGR)

8.8 Middle East & Africa MicroInverter Market Segmentation: By End-user

8.8.1 Middle East & Africa MicroInverter Market, By End-user Overview

8.8.2 Middle East & Africa MicroInverter Market Size, By Residential, By Value, 2019H-2029F (USD Million & CAGR)

8.8.3 Middle East & Africa MicroInverter Market Size, By Commercial, By Value, 2019H-2029F (USD Million & CAGR)

8.8.4 Middle East & Africa MicroInverter Market Size, By Utility, By Value, 2019H-2029F (USD Million & CAGR)



9. Market Dynamics

9.1 Impact Assessment of Market Dynamics on the Global MicroInverter Market

9.2 Drivers

9.3 Restraints

9.4 Trends



10. Industry Ecosystem Analysis

10.1 Value Chain Analysis

10.2 Porter's Five Forces Model



11. Competitive Positioning

11.1 Companies' Product Positioning

11.2 Market Position Matrix

11.3 Market Share Analysis of MicroInverter Market

11.4 Company Profiles

11.4.1 Enphase Energy, Inc.

11.4.2 Altenergy Power System, Inc.

11.4.3 Hoymiles Power Electronics Inc

11.4.4 Generac Holdings Inc.

11.4.5 ABB Ltd.

11.4.6 Sensata Technologies, Inc.

11.4.7 Darfon Solar

11.4.8 Tigo Energy

11.4.9 AEconversion GmbH & Co. KG

11.4.10 Sparq Systems

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