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Residential Micro Inverter Market Share

Report ID: GMI7827
Published Date: Jan 2024
Report Format: PDF

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Residential Micro Inverter Market Share

The leading players in the market are concentrating on mergers & acquisitions, expanding their facilities, and forming strategic partnerships to broaden their product range, reach more customers, thereby strengthen their market position. Companies prioritizing an acquisition strategy, alongside the geographic expansion of key players, are expected to increase market competition throughout the forecast period.

Residential Micro Inverter Market Companies

Eminent players operating in the residential micro inverter industry are:

Darfon Electronics Corp.
Enphase Energy
SMA Solar Technology AG
Altenergy Power System, Inc.
Fimer Group
Chilicon Power, LLC
Envertech (Zhejiang Envertech Corporation Limited)
Sensata Technologies, Inc.
Sparq Systems
Yotta Energy
Growatt New Energy
NingBo Deye Inverter Technology Co., Ltd.
Hoymiles
LeadSolar Energy
TSUNESS Co., Ltd.
Chisageess

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of residential micro inverter was worth over USD 2.3 billion in 2023 and is anticipated to exceed USD 6.1 billion by 2032, due to higher adoption to convert the direct current (DC) output from individual solar panels into alternating current (AC) electricity for household use.

The single phase residential micro inverters market will exhibit over 10.5% CAGR through 2032, owing to the higher need to enhance the energy yield by optimizing the performance of individual solar panels.

North America residential micro inverter industry size is expected to witness more than 9.5% CAGR from 2024 to 2032, owing to the upsurge in integration with smart grid technologies along with the growing focus on advanced grid management.

Some of the major residential micro inverter industry players are Darfon Electronics Corp., Enphase Energy, SMA Solar Technology AG, Altenergy Power System, Inc., Fimer Group, Chilicon Power, LLC, Sensata Technologies, Inc., and Sparq Systems.