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Micro Inverter Market to Hit USD 20.30 Bn by 2032
The Micro Inverter Market was USD 4.44 Bn in 2024 and is expected to expand at a CAGR of 20.9 % from 2025 to 2032, reaching USD 20.30 Bn by 2032. Micro inverters are becoming common in residential and commercial solar systems. Micro inverters make for a smarter and more efficient method of yielding and regulating solar power, pairing the ability to create your power and store excess power for later use. This is due to the government policies started by governments such as tax rebates, feed-in tariffs, and other incentives, which make solar energy systems more attractive and affordable, which drives the micro inverter market. Micro inverters are also integrated with smart monitoring systems to monitor the performance of each panel individually in real time. Micro inverters are also good for roofs where panels may be facing different directions, if your roof has several pitches, or if you need to accommodate several different panel orientations. Micro inverters account for approximately 20-25% of the total solar inverter market in the U.S.
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Micro Inverter Market Segmentation
By Type: Single-phase micro inverter is designed for smaller scale residence application with a lower electric load normally less than 10 kW. It is primarily used for home solar systems, particularly for small to medium home solar power systems. Three-phase micro inverters are best suited for commercial installations and larger residential applications with greater energy needs. The Other segment, on the other hand, is slightly less in comparison to single-phase and three-phase and may also dominate in specific market types.
Micro Inverter Market Regional Analysis
United States: The United States Micro Inverter Market sales are anticipated to be valued at US$ 800 million by 2032, surging at a CAGR of 10.24% over the forecast period 2025-2032. The U.S. government still provides tax credits, rebates, and subsidies to help pay for solar installations. Enphase Energy, SolarEdge Technologies, and SMA Solar Technology are the key participants in the U.S. micro inverter market, though Enphase Energy holds a dominant position in the micro inverter market.
Germany: The German solar microinverter market reached $22.30 million in 2024 and is projected to grow at a phenomenal CAGR of 14.80%, reaching a value of $ 89.69 million by 2032. Germany installed a record 14 GW of solar capacity (over a million systems) in 2023, an 85% year-on-year growth, illustrating the extent to which the nation is now committed to expanding its solar infrastructure. In 2023, SMA Solar Technology AG, a market leader in solar inverters, achieved revenues of €1.904 billion and employed around 4,377 people.
China: The demand for micro inverters stood at around 3.3 million units in 2021, while in 2023, it is projected to reach 6 million units, indicating rising adoption. Major market makers APsystems Established in 2010, focusing on the manufacture of micro inverters and related technologies. Deye has revolutionized new micro inverter technology solutions for home and commercial applications.
Micro Inverter Market Competitive Landscape
Enphase Energy: Enphase Energy purchased and retained SunPower’s microinverter business for about $25 million. On Oct. 31, Enphase Energy acquired Folsom Labs for $25 million in cash and stock.
SolarEdge Technologies: In 2023, SolarEdge acquired Nuvation Energy for around $120 million. In 2020, SolarEdge purchased the Italian firm SMRE (Sistemi Meccanici Rotanti Elettrici) for $ 75 million.
APsystems: APsystems Forms Partnership in Energy Management Space APsystems announced a partnership with SmarTeg, a developer of smart energy management systems. Products such as the YC600 microinverter were released to European consumers.
Recent Developments:
- Enphase Energy introduced the IQ8, which was announced in 2021 by Enphase Energy, and is very special in that it is the first grid-agnostic microinverter, meaning they can operate without the grid.
- APsystems launched the YC600 microinverter, a powerful microinverter suitable for residential and small commercial solar installations.
Conclusion
- Micro inverters are being propelled by the rising demand for efficient, reliable, and flexible solar systems as well as more adaptable and scalable solutions compared to conventional inverters.
Related Reports:
Inverter Market size was valued at USD 19.15 Billion in 2023 and the total Inverter revenue is expected to grow at a CAGR of 16 % from 2024 to 2030, reaching nearly USD 55.17 Billion by 2030.
Modular Inverter Market size was valued at USD 17.23 Billion in 2023 and the total Modular Inverter revenue is expected to grow at a CAGR of 7.9% from 2024 to 2030, reaching nearly USD 29.34 Billion.
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