Product Code: GVR-4-68040-382-8
Solar Microinverter Market Size & Trends
The global solar microinverter market was valued USD 2,514.00 million in 2023 and is expected to grow at a CAGR of 18.9% over 2024 to 2030. This market's growth is driven by the increasing adoption of solar energy across residential, commercial, and industrial sectors. As the world shifts towards renewable energy sources to combat climate change and reduce carbon footprints, the demand for efficient and reliable solar energy systems has surged. Microinverters, which convert direct current (DC) generated by solar panels into alternating current (AC) for use in the electrical grid, offer significant advantages over traditional string inverters.
They improve the overall efficiency of solar energy systems by optimizing the power output of each individual solar panel. This is particularly beneficial in installations where shading, orientation, or panel mismatches can impact performance. Additionally, microinverters enhance the monitoring capabilities of solar systems, allowing users to track the performance of each panel in real-time, which contributes to more efficient maintenance and troubleshooting.
Moreover, increasing investments and supportive policies from governments across the globe is the major factor driving the growth of the solar microinverter market. Many countries are implementing incentives such as tax credits, subsidies, and feed-in tariffs to promote the adoption of solar energy. These policies make solar installations more financially attractive to consumers and businesses, thereby boosting the demand for microinverters.
Moreover, advancements in microinverter technology have led to improved reliability, longer lifespans, and cost reductions, making them a more viable option for a wide range of applications. The rising awareness of the benefits of microinverters, such as increased energy yield, enhanced safety, and greater design flexibility, is also contributing to their growing popularity. As the global solar market continues to expand, driven by the need for sustainable energy solutions, the microinverter segment is poised for significant growth in the coming years.
Global Solar Microinverter Market Report Segmentation
This report forecasts revenue growth and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this report, Grand View Research has segmented the global solar microinverter market based on the type, application, power rating, distribution channel, and region:
- Type Outlook (Revenue, USD Million, 2018 - 2030)
- Single Phase
- Three Phase
- Application Outlook (Revenue, USD Million, 2018 - 2030)
- Residential
- Commercial
- Industrial / Utility
- Power Rating Outlook (Revenue, USD Million, 2018 - 2030)
- Below 250 W
- 250 W to 500 W
- Above 500 W
- Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)
- Online
- Offline
- Direct Sales
- Indirect Sales
- Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
U.S.
Canada
Mexico
Germany
France
UK
Russia
Norway
Italy
China
Japan
India
Australia
Brazil
Argentina
Qatar
Saudi Arabia
South Africa
Kuwait
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Projects & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
- 1.7. List of Abbreviations
Chapter 2. Executive Summary
- 2.1. Market Outlook, 2023 (USD Million)
- 2.2. Segmental Outlook
- 2.3. Competitive Landscape Snapshot
Chapter 3. Solar Microinverter Market Variables, Trends, and Scope
- 3.1. Market Lineage Outlook
- 3.2. Penetration & Growth Prospects Mapping
- 3.3. Industry Value Chain Analysis
- 3.4. Technology Framework
- 3.5. Regulatory Framework
- 3.5.1. Standards & Compliances
- 3.5.2. Regulatory Impact Analysis
- 3.6. Market Dynamics
- 3.6.1. Market Driver Analysis
- 3.6.2. Market Restraint Analysis
- 3.6.3. Market Challenges Analysis
- 3.6.4. Market Opportunity Analysis
- 3.7. Business Environment Analysis
- 3.7.1. Industry analysis - porter's five forces analysis
- 3.7.2. Industry analysis - Pestle analysis
- 3.8. Emerging trends & technologies in the Silicon Photomultiplier
Chapter 4. Solar Microinverter Market: Type estimates & trend analysis
- 4.1. Definition & scope
- 4.2. Type movement analysis & market share, 2023 & 2030
- 4.3. Single Phase
- 4.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.4. Three Phase
- 4.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 5. Solar Microinverter Market: Application Estimates & Trend Analysis
- 5.1. Definition & Scope
- 5.2. Application Movement Analysis & Market Share, 2023 & 2030
- 5.3. Residential
- 5.3.1. Market estimates and forecasts, 2018-2030 (USD Million)
- 5.4. Commercial
- 5.4.1. Market estimates and forecasts, 2018-2030 (USD Million)
- 5.5. Industrial / Utility
- 5.5.1. Market estimates and forecasts, 2018-2030 (USD Million)
Chapter 6. Solar Microinverter Market: Power Rating Estimates & Trend Analysis
- 6.1. Definition & Scope
- 6.2. Power Rating Movement Analysis & Market Share, 2023 & 2030
- 6.3. Below 250 W
- 6.3.1. Market estimates and forecasts, 2018-2030 (USD Million)
- 6.4. 250 W to 500 W
- 6.4.1. Market estimates and forecasts, 2018-2030 (USD Million)
- 6.5. Above 500 W
- 6.5.1. Market estimates and forecasts, 2018-2030 (USD Million)
Chapter 7. Solar Microinverter Market: Distribution Channel Estimates & Trend Analysis
- 7.1. Definition & Scope
- 7.2. Distribution Channel Movement Analysis & Market Share, 2023 & 2030
- 7.3. Online
- 7.3.1. Market estimates and forecasts, 2018-2030 (USD Million)
- 7.4. Offline
- 7.4.1. Market estimates and forecasts, 2018-2030 (USD Million)
- 7.4.2. Direct Sales
- 7.4.2.1. Market estimates and forecasts, 2018-2030 (USD Million)
- 7.4.3. Indirect Sales
- 7.4.3.1. Market estimates and forecasts, 2018-2030 (USD Million)
Chapter 8. Solar Microinverter Market: Regional Estimates & Trend Analysis
- 8.1. Key Takeaways
- 8.2. Regional Movement Analysis & Market Share, 2023 & 2030
- 8.3. North America
- 8.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.3.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.3.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.3.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.3.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
- 8.3.6. U.S.
- 8.3.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.3.5.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.3.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.3.5.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.3.5.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
- 8.3.7. Canada
- 8.3.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.3.6.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.3.6.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.3.6.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.3.6.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
- 8.3.8. Mexico
- 8.3.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.3.7.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.3.7.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.3.7.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.3.7.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
- 8.4. Europe
- 8.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.4.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.4.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.4.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.4.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
- 8.4.6. Germany
- 8.4.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.4.5.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.4.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.4.5.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.4.5.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
- 8.4.7. UK
- 8.4.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.4.6.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.4.6.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.4.6.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.4.6.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
- 8.4.8. France
- 8.4.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.4.7.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.4.7.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.4.7.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.4.7.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
- 8.4.9. Italy
- 8.4.8.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.4.8.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.4.8.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.4.8.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.4.8.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
- 8.4.10. Norway
- 8.4.9.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.4.9.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.4.9.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.4.9.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.4.9.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
- 8.4.11. Russia
- 8.4.10.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.4.10.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.4.10.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.4.10.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.4.10.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
- 8.5. Asia Pacific
- 8.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.5.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.5.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.5.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
- 8.5.6. China
- 8.5.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.5.4.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.5.4.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.5.4.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.5.4.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
- 8.5.7. India
- 8.5.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.5.5.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.5.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.5.5.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.5.5.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
- 8.5.6. Japan
- 8.5.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.5.6.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.5.6.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.5.6.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.5.6.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
- 8.5.7. Australia
- 8.5.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.5.7.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.5.7.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.5.7.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.5.7.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
- 8.6. Central & South America
- 8.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.6.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.6.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.6.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.6.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
- 8.6.6. Brazil
- 8.6.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.6.5.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.6.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.6.5.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.6.5.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
- 8.6.7. Argentina
- 8.6.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.6.6.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.6.6.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.6.6.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.6.6.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
- 8.7. Middle East & Africa
- 8.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.7.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.7.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.7.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.7.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
- 8.7.6. Qatar
- 8.7.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.7.5.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.7.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.7.5.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.7.5.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
- 8.7.7. Saudi Arabia
- 8.7.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.7.6.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.7.6.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.7.6.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.7.6.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
- 8.7.8. South Africa
- 8.7.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.7.7.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.7.7.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.7.7.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.7.7.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
- 8.7.9. Kuwait
- 8.7.8.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.7.8.2. Market estimates and forecasts, by Type, 2018 - 2030 (USD Million)
- 8.7.8.3. Market estimates and forecasts, by Application, 2018 - 2030 (USD Million)
- 8.7.8.4. Market estimates and forecasts, by Power Rating, 2018 - 2030 (USD Million)
- 8.7.8.5. Market estimates and forecasts, by Distribution Channel, 2018 - 2030 (USD Million)
Chapter 9. Competitive Landscape
- 9.1. Key Players & Recent Developments & Their Impact on the Industry
- 9.2. Key Company/Competition Categorization (Key innovators, Market leaders, emerging players)
- 9.3. List of key Component Suppliers and Channel Partners
- 9.4. Company Market Share & Position Analysis, 2023
- 9.5. Company Heat Map Analysis
- 9.6. Competitive Dashboard Analysis
- 9.7. Strategy Mapping
- 9.7.1. Expansion
- 9.7.2. Collaboration/ Partnerships/ Agreements
- 9.7.3. New Application launches
- 9.7.4. Mergers & Acquisitions
- 9.7.5. Research & Development
- 9.7.6. Others
- 9.8. List of Potential Customers, by Material
Chapter 10. Company Listing / Profiles
- 10.1. SMA Solar Technology
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.2. Canadian Solar
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.3. SolarEdge Technologies
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.4. SunPower
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.5. Delta Electronics
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.6. Solectria Renewables
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.7. Sineng Electric
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.8. Hitachi Hi-Rel Power Electronics
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.9. Sungrow Deutschland GmbH
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.10. Sensata Technologies, Inc.
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
Chapter 11. Strategic Recommendations/ Analyst Perspective