Global Solar Micro Inverter Market is expected to reach USD 2934.86 million by 2025



 In the years ahead, increased demand for green energy as a result of rising power consumption and lowering costs of producing renewable energy is expected to propel the worldwide solar inverter market forward. Renewable energy production costs have plummeted substantially, making it currently cost-effective in meeting rising electricity demand. Furthermore, governments all over the world are focused on infrastructure development to improve their inhabitants' living standards. For example, the UAE government is primarily focused on the Smart Dubai plan, which intends to transform Dubai into a global leader in smart cities.

The usage of solar inverters are encouraged by the growing impact of greenhouse emissions and the emergence of new environmental issues. As people become increasingly aware of global warming, the solar inverter market is expected to grow. Several solar inverter companies are creating IoT platforms, experimenting with machine learning and artificial intelligence, and expanding their product lines. On the strength of expanding solar installations around the world, particularly home installations, the solar micro inverter market has made progress. The cost of solar photovoltaic installations has decreased significantly, allowing cost-sensitive markets to expand the share of solar power in the overall energy mix.

In 2019, the global solar micro inverter market was worth USD 1166.24 million, and it is expected to rise at a double-digit CAGR of 24.32 percent to USD 2934.86 million by 2025.

This has resulted in increased solar PV capacity, particularly among residential customers, opening up new opportunities for participants in the Solar Micro Inverter market. An important factor that has benefited the Solar Micro Inverter market is the growing installation of household solar panels. The market for Solar Micro Inverters have been bolstered by the increased use of renewable energy generation and use. Market technologies are also gaining traction because of their modular nature, which makes them more dependable than traditional systems.

Many people prefer DC optimizers due to the expensive expense of manufacturing Solar Micro Inverters. The availability of low-cost solar PV panels has also stifled the growth of the Solar Micro Inverter market. Stringent electrification laws have also hampered the implementation of Solar Micro Inverters in various nations. India's economy has enormous potential. The governments of Asian countries are eager to grow solar PV capacity, which has boosted the popularity of Solar Micro Inverters in the region.

The two most common product kinds are standalone and integrated. Commercial, utility, and residential are the three most common grades. Shade tolerance, no air cooling, minimal maintenance loss, remote monitoring, cable size, and expandability are just a few of the benefits of Solar Micro Inverters. The research provides information on present and future opportunities in these markets.

Northern Electric and Power Co. Ltd, SMA Solar Technology AG, Sparq Systems, SMA Solar Technology AG, Chilicon Power, LLC, Altenergy Power System Inc., Entergy Co. Ltd., SunPower Corporation, and ABB Ltd. are some of the promising players in the Solar Micro Inverter market who are relentlessly focused on maintaining a stronghold.

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