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On Grid Micro Inverter Market Share

Report ID: GMI7926
Published Date: Jan 2024
Report Format: PDF

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On Grid Micro Inverter Market Share

Merging with or acquiring technology-focused companies can bring in-house expertise, accelerating product development and improving the technological capabilities of on-grid micro inverters. Distribution agreements with global partners expand the reach while shared research and development efforts can lead to cost-efficient solutions. Collaborative efforts contribute to the growth of on-grid micro inverters by fostering innovation, expanding market reach, optimizing operations, and providing the necessary resources to stay competitive in the dynamic renewable energy market.

On Grid Micro Inverter Companies

Eminent players operating in the on grid micro inverter industry are:

AP Systems
Delta
Enphase Energy
Fronius International GmbH
Generac Holdings Inc.
Ginglong
Hoymiles
Huawei Technologies Co. Ltd.
SMA Solar Technology AG
SolarEdge Technologies, Inc.
Sungrow, Solax
Tesla, Inc.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of on grid micro inverter was reached USD 1.8 billion in 2023 and is anticipated to cross USD 4.1 billion by 2032, led by the growing emphasis on environmental sustainability and the ongoing innovations to improve performance and increase efficiency.

On grid micro inverter market from the single phase segment will grow at over 8.5% CAGR through 2032, due to benefits, including improved energy harvest, increased reliability, simplified installation, and maintenance processes in line with the increasing interest in small-scale solar installations.

Demand for residential on grid micro inverter is anticipated to reach USD 3.7 billion by 2032, on account of the increasing adoption of residential solar PV systems along with the higher integration with smart home systems.

North America on grid micro inverter industry size is anticipated to witness more than 8.5% CAGR from 2024 to 2032, due to strong commitment to reduce carbon footprint and coupled with supportive incentives such as tax credits and rebates.

AP Systems, Delta, Enphase Energy, Fronius International GmbH, Generac Holdings Inc., Ginglong, Hoymiles, Huawei Technologies Co. Ltd., and SMA Solar Technology AG are some of the prominent on grid micro inverter firms.