Cohesive Government Regulation to Promote Solar Energy Further Driving Global Micro Inverter Market

The global micro inverter market is anticipated to grow at a significant CAGR of 19.5% during the forecast period (2024-2031). The micro inverter is one of the most integral part of solar panel, therefore, the cohesive government policies to promote solar energy is a key factor driving the global micro inverter market. The Indian Government has set a target of 1 Crore homes to solarize in 2024 and they will anounched 5,000 Crore ($601.8 million) budget for rooftop solar installation. In September 2022, the Ministry of New & Renewable Energy Grid Solar Power Division has allocated a total capacity of 39,600 MW of domestic Solar PV module manufacturing capacity to 11 companies, with a total outlay of Rs. 14,007 Crores ($1,685.8 million) under the Production Linked Incentive Scheme for High Efficiency Solar PV Modules (Tranche-II).

Browse the full report description of “Micro Inverter Market Size, Share & Trends Analysis Report by Type (Single Phase and Three-Phase), by Communication Technology (Wired and Wireless), by Sales Channel (Direct and Indirect), by Application (Residential, Commercial, and Industrial (PV Power Plant)) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/micro-inverter-market

Additionally, in June 2023, the Dutch government awarded the SolarNL project with a total of €312 million ($339.3 million) grant plus a €100 million ($108.7 million) loan under the National Growth Fund. SolarNL’s ambitious agenda includes the development and industrialization of three innovative solar photovoltaic (PV) technologies-

• High-efficiency silicon heterojunction (HJT) cells

• Flexible perovskite foils

• Customized solar PV products for integration

Market Coverage

• The market number available for – 2023-2031

• Base year- 2023

• Forecast period- 2024-2031

• Segment Covered- 

o By Type

o By Communication Technology

o By Sales Channel

o By Application

• Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

• Competitive Landscape- including Enphase Energy Inc., Altenergy Power System Inc., Siemens AG, ABB Group, and DARFON among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Micro Inverter Market Report Segment

By Type

• Single Phase
• Three-Phase

By Communication Technology

• Wired
• Wireless

By Sales Channel

• Direct
• Indirect

By Application

• Residential
• Commercial
• Industrial (PV Power Plant)

Global Micro Inverter Market Report Segment by Region

North America

• United States

• Canada

Europe

• UK

• Germany

• Italy

• Spain

• France

• Rest of Europe 

Asia-Pacific

• China

• India

• Japan

• South Korea

• Rest of Asia-Pacific 

Rest of the World

• Latin America 

• Middle East & Africa

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