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Single Phase Residential Micro Inverter Market Share

Report ID: GMI11897
Published Date: Oct 2024
Report Format: PDF

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Single Phase Residential Micro Inverter Market Share

Single Phase Residential Micro Inverter Company Market Share

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Eminent players are expanding their presence into new geographical regions, especially in growing markets such as Asia Pacific and Europe, where government incentives and solar energy adoption are high. Leading players have adopted this strategy to accelerate growth and expand their product portfolios, especially in emerging markets where solar adoption is increasing rapidly. Furthermore, key players are forming partnerships and alliances with other solar companies, utilities, and technology firms to expand their market reach and offer integrated solutions. These partnerships also help companies gain access to new markets and customer bases while reducing the time to market for new products.

Single Phase Residential Micro Inverter Market Companies

Eminent players operating in the single phase residential micro inverter industry are:

Deye Inverter
Darfon Electronics Corporation
Chisage Ess
Fimer Group
Growatt New Energy
Hoymiles
Sparq System
Statcon Energiaa
SunEvo Solar
Solis Solar
Tata Power Solar

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of single-phase residential micro inverter was reached USD 2.1 billion in 2023 and is estimated to grow at a 11% CAGR from 2024 to 2032, driven by increasing system reliability and safety.

The on-grid segment is projected to surpass USD 3 billion by 2032, due to its ability to maximize energy efficiency and the rising integration of solar energy by residential users.

The European market for single-phase residential micro inverter is expected to exceed USD 1.8 billion by 2032, fueled by a shift towards decentralized energy production and increasing government support through subsidies and tax credits.

Key players in the market include Deye Inverter, Darfon Electronics Corporation, Chisage Ess, Fimer Group, Growatt New Energy, Hoymiles, Sparq System, Statcon Energiaa, SunEvo Solar, Solis Solar, and Tata Power Solar.