Micro Inverter Market Set to Surge: Expected to Reach $13.5 Billion by 2030 with a 19.7% CAGR Growth Rate

OREGAON, PORTLAND, UNITED STATES, May 6, 2024 /EINPresswire.com/ -- Allied Market Research published an exclusive report, titled, "Micro Inverter Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Connection, by End User : Global Opportunity Analysis and Industry Forecast, 2020-2030".

The global micro inverter market size was valued at $2.4 billion in 2020, and is projected to reach $13.5 billion by 2030, growing at a CAGR of 19.7% from 2021 to 2030.

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A micro inverter is device that connects to a single solar panel and converts direct current (DC) into alternating current (AC), which can be used to power domestic appliances or deliver into the grid for energy credits. It is long lasting, more reliable, and more efficient compared to traditional inverters. Micro inverters are divided into two categories based on the phase supply: single phase and three phase.

Growth of the global micro inverter industry is driven by factors, such as technical advantages over other conventional solar inverter, design flexibility, and capabilities like producing maximum power from solar panels. In addition, surge in need for sustainable & clean energy on account of growing concerns regarding damaging greenhouse gases emissions boost the market growth. However, increase in installation and maintenance costs restraints the market growth. On the contrary, rise in the number of solar photovoltaic (PV) installations for various applications across the globe fuels the market growth during the forecast period.

Key Market Players:
The micro inverter market size report offers an in-depth analysis of the 10 prime market players that are active in the market. Moreover, it provides their thorough financial analysis, business strategies, SWOT profile, business overview, and recently launched products & services. In addition, the report offers recent market developments such as market expansion, mergers & acquisitions, and partnerships & collaborations. The prime market players studied in the report are P and P Energy Technology Co Limited, SMA Solar Technology AG, Enphase Energy, Inc, Siemens AG, Involar, Delta Energy Systems GmbH, ReneSola, SolarEdge Technologies Inc., SunPower Corporation, ABB Group.

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Segmentation Analysis:
The micro inverter market is segmented on the basis of type, connection, end user, and region. The report offers an in-depth study of every segment, which helps market players and stakeholders to understand the fastest growing segments and highest grossing segments in the market.

The micro inverter market is analyzed across the globe and highlight several factors that affect the performance of the market across the various region including North America (United States, Canada, and Mexico), Europe (Germany, France, UK, Russia, and Italy), Asia-Pacific (China, Japan, Korea, India, and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa).

The micro inverter market report provides thorough information about prime end-users and annual forecast during the period from 2022 to 2030. Moreover, it offers revenue forecast for every year coupled with sales growth of the market. The forecasts are provided by skilled analysts in the market and after an in-depth analysis of the geography of the market. These forecasts are essential for gaining insight into the future prospects of the micro inverter industry.

The Report will help the Readers:
- Figure out the market dynamics altogether.
- Inspect and scrutinize the competitive scenario and the future micro inverter market landscape with the help of different strictures including Porter's five forces.
- Understand the impact of different government regulations throughout the global health crisis and evaluate the micro inverter market condition in the tough time.
- Consider the portfolios of the protruding players functional in the market in consort with the thorough study of their products/services.
- Have a compact idea of the highest revenue generating segment.

The research operandi of the global micro inverter market includes significant primary as well as secondary research. When the primary methodology encompasses widespread discussion with a plethora of valued participants, the secondary research involves a substantial amount of product/service descriptions. Furthermore, several government sites, industry bulletins, and press releases have also been properly examined to bring forth high-value industry insights.

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COVID-19 Impact Analysis:
The COVID-19 pandemic hit almost all sectors across the globe. The government restrictions and guidelines issued by World Health Organization (WHO) have temporarily suspended the manufacturing facilities. In addition, the prolonged lockdown across several countries led to disruption of the supply chain and increased raw material prices. Such factors affected the global micro inverter market growth . The report offers an in-depth analysis of the impact of the COVID-19 outbreak on the market.

The Report Offers:
• Evaluation of market share for regional and country-level segments.
• Market analysis of top industry players.
• Strategic recommendations for new entrants.
• All mentioned segments, and regional market forecasts for the next 10 years.
• Market Trends (Drivers, Difficulties, Opportunities, Threats, Challenges, Investment Opportunities and Recommendations)
• Strategic recommendations in the main business segment of the market forecast.
• Competitive landscaping of major general trends.
• Company profiling with detailed strategy, financial and recent developments.
• Latest technological progress mapping supply chain trends.

The market study further promotes a sustainable market scenario on the basis of key product offerings. On the other hand, Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network. The report provides an explicit global micro inverter market breakdown and exemplifies how the opposition will take shape in the new few years to come. Rendering the top ten industry players functional in the market, the study emphasizes on the policies & approaches integrated by them to retain their foothold in the industry.

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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