Micro-inverter Market worth $14.5 billion by 2029 - Exclusive Report by MarketsandMarkets™

CHICAGO, Jan. 23, 2024 /PRNewswire/ -- The global microinverter market is expected to be valued at USD 4.9 billion in 2024 and is projected to reach USD 14.5 billion by 2029; it is expected to grow at a CAGR of 24.1% from 2023 to 2028 according to a new report by MarketsandMarkets™. The growth of the micro-inverter market is propelled by increasing energy prices that contribute to the installation of solar panels and rising energy demand across the globe. However, limited power handling capacity and high installation and maintenance costs restrain the market's growth.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=43340469

Browse in-depth TOC on "Micro-inverter Market" 

170 – Tables
56 – Figures
204 – Pages

Micro-inverter Market Report Scope:

The wireless segment is expected to have the highest CAGR during the forecast period.

The wireless segment in the micro-inverter market is expected to grow at the highest CAGR during the forecast period. Wireless communication technologies, such as Wi-Fi and Zigbee, provide enhanced flexibility and simplified installation when compared to conventional wired alternatives. Moreover, wireless communication facilitates greater scalability in solar installations, aligning with the increasing trend of distributed energy resources. The growing preference for intelligent and interconnected energy systems made possible through wireless communication is a significant factor contributing to the growth of this segment.

The grid-tied segment in micro-inverter is anticipated to dominate during the forecast period.

The grid-tied segment is expected to dominate in the forecast period. Currently, most micro-inverters associated with solar panels in residential, commercial, and PV power plant applications are linked or connected to the electrical grid. In numerous urban and suburban settings, residences and businesses maintain a connection to the electrical grid. Furthermore, grid-tied micro-inverters support energy sustainability without necessitating the use of energy storage solutions. Surplus energy generated during abundant sunlight can seamlessly be fed back into the grid, effectively serving as a distributed power source for the community.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=43340469

North America to dominate the micro-inverter market during the forecast period.

North America is expected to dominate the micro-inverter industry during the forecast period. This is due to numerous installations in countries like the United States and Canada. The United States, in particular, stands out as one of the pioneering nations in the widespread adoption of micro-inverters. Additionally, the region benefits from the presence of several major companies, including Enphase Energy, Altenergy Power System, and Chilicon Power.

Key players

The micro-inverter market includes significant Tier I and II players like Enphase Energy (US), Altenergy Power Systems (US), Hoymiles (China), Ningbo Deye Inverter Technology Co Ltd (China), Chilicon Power LLC (US), AEconversion GmbH & CO. KG (Germany), Envertech (China), ZJBENY (China), Bluesun Solar Co., Ltd. (China), and Solar Panels Plus (US), are some of the key players in the micro-inverter companies.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=43340469

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Photovoltaics (PV) Market by Component (Modules, Inverters, BOS), Material (Silicon, Compounds), Installation Type (Ground Mounted, BIPV, Floating PV), Application (Residential, Commercial & Industrial, Utilities), Cell Type and Region - Global Forecast to 2028

Battery Energy Storage System Market Size, Share, Statistics and Industry Growth Analysis Report by Element, Battery Type (Lithium-ion, Advanced Lead Acid, Flow), Connection Type (On-Grid and Off-Grid), Ownership (Customer Owned, Third-Party Owned, Utility Owned), Energy Capacity - Global Forecast to 2028

Organic Electronics Market by Material (Semiconductor, Conductive, Dielectric, Substrate), Application (Display, Lighting, Solar Cells), End User (Consumer Electronics, Automotive, Healthcare) and Region - Global Forecast to 2028

Interactive Display Market by Product (Interactive Kiosk, Whiteboard, Table, Video Wall, Monitor), Technology (LCD, LED, OLED), Panel Size, Panel Type (Flat, Flexible, Transparent), Vertical (Retail, Corporate) and Geography - Global Forecast to 2029

Flexible Display Market by Application (Smartphone, Smartwatch, Wearable, TV, Digital Signage, PC Monitor, E-reader, Electronic Shelf Label, and Automotive), Technology (OLED, Quantum Dots, LED, E-Paper), Panel Size, and Geography - Global Forecast to 2022

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/micro-inverter-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/micro-inverter.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

SOURCE MarketsandMarkets