[FURL=https://www.industryarc.com/Research/Micro-inverter-Market-Research-505283?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Micro inverter Market[/FURL] Micro Inverter Market is analyzed to grow at a CAGR of 19.4% during the forecast 2021-2026 to reach $7.32 billion by 2026. Micro inverter is an emerging solar inverter technology that is generally used to convert direct current (DC) electricity generated by solar panels into alternating current (AC) electricity with the help of electrolytic capacitors. Increasing demand for improved efficiency and higher power output photovoltaic inverters tend to drive the Micro inverters market share in the global market. Micro inverter is a type of Module Level Power Electronics (MLPE) technology that has separate inverters for each solar cell. These inverters use different semiconductor materials such as Copper Indium Gallium Diselenide to convert DC to AC with respect to the power output.Key Takeaways
A wide range of technical advantages of micro-inverters over conventional solar inverters and rising demand for energy harvest solutions is analyzed to significantly drive the Micro inverter Market during the forecast period 2021-2026.
Single-phase micro inverters are analyzed to hold the highest share 58.12% in 2020 owing to its huge adoption in residential applications across various parts of the world.
Residential application is expected to hold the highest market share 33.73% in the forecast period owing to the rise in government regulations for adopting energy harvesting solutions in the residential sector across various parts of the world.
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Micro inverter Market Segment Analysis – By Geography
Asia-Pacific is analysed to be the major region with a share of 35% in 2020 for the Micro inverter Market owing to the availability of huge population and increasing urbanization in this region. APAC is expected to be the fastest-growing market for micro-inverter as currently, many countries such as China, Japan, India, and Australia are striving to boost their solar PV installation capacity through advanced solar PV systems that could in turn enhance electric stability. Asia-Pacific region holds a huge market for the installation of micro inverters for residential, commercial, and PV power plants sectors. Japan and Australia have been the major adopters of micro-inverter technology.
Micro inverter Market Drivers
Wide range of technical advantages of micro-inverters over conventional solar inverters is driving its market growth
Increasing demand of energy harvesting solutions is propelling the Micro inverter Market growth
Micro inverter Market Landscape
Global Vehicle-mount computer top 10 companies include Enphase Energy, Inc, ABB Group, Sun Power Corporation, SMA Solar Technology AG, Delta Energy Systems GmbH, Solar Edge Technologies Inc., ReneSola, Siemens AG, P&P Energy Technology Co., Limited, Involar
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