The global micro inverter market is anticipated to grow at a significant CAGR of 19.5% during the forecast period (2024-2031). The micro inverter is one of the most integral part of solar panel, therefore, the cohesive government policies to promote solar energy is a key factor driving the global micro inverter market. The Indian Government has set a target of 1 Crore homes to solarize in 2024 and they will anounched 5,000 Crore ($601.8 million) budget for rooftop solar installation. In September 2022, the Ministry of New & Renewable Energy Grid Solar Power Division has allocated a total capacity of 39,600 MW of domestic Solar PV module manufacturing capacity to 11 companies, with a total outlay of Rs. 14,007 Crores ($1,685.8 million) under the Production Linked Incentive Scheme for High Efficiency Solar PV Modules (Tranche-II).
Browse the full report description of “Micro Inverter Market Size, Share & Trends Analysis Report by Type (Single Phase and Three-Phase), by Communication Technology (Wired and Wireless), by Sales Channel (Direct and Indirect), by Application (Residential, Commercial, and Industrial (PV Power Plant)) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/micro-inverter-market
Additionally, in June 2023, the Dutch government awarded the SolarNL project with a total of €312 million ($339.3 million) grant plus a €100 million ($108.7 million) loan under the National Growth Fund. SolarNL’s ambitious agenda includes the development and industrialization of three innovative solar photovoltaic (PV) technologies-
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Type
o By Communication Technology
o By Sales Channel
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- including Enphase Energy Inc., Altenergy Power System Inc., Siemens AG, ABB Group, and DARFON among others.
Key questions addressed by the report
Global Micro Inverter Market Report Segment
By Type
By Communication Technology
By Sales Channel
By Application
Global Micro Inverter Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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