Solar Microinverter Market Set to Surge Nearly Sixfold by 2031 on Climate Policies and Energy Shift
• The solar micro inverter market size was worth US$ 2.0 billion in 2022 and is expected to reach US$ 11.6 billion by 2031, growing at a CAGR of 18.9%
• Key drivers include monitoring capabilities, improved system efficiency, government incentives, and environmental benefits of solar energy
• Micro inverters minimize the impact of shading and panel mismatches, optimize power production, and enhance system safety and reliability
• Asia Pacific is expected to dominate the global solar micro inverter market due to growing energy needs and supportive government policies
• Key players like Enphase Energy, SolarEdge, and Leadsolar aim to increase market share through new product development and strategic marketing initiatives