Micro Inverter Market projected to reach $14.90 Billion by 2032, with strong growth drivers

From GlobeNewswire: 2025-05-12 02:00:00

The Micro Inverter Market is projected to reach $14.90 Billion by 2032, growing at a CAGR of 18.97%. Key drivers include technological advancements, energy conversion, and integration with energy storage systems. The US market size is expected to reach $2.94 Billion by 2032 at a CAGR of 19.07%. Leading market players include Enphase Energy, Altenergy Power Systems, and Hoymiles.

The Three-Phase segment dominates the micro inverter market, followed by the Single-Phase segment. Above 500 W is the leading power rating segment, while the Residential segment leads in end-users. The commercial segment is expected to grow rapidly due to the increasing use of solar electricity in commercial buildings.

Asia-Pacific holds the largest share of the micro inverter market, driven by strong government incentives and growing demand for renewable energy solutions. North America is the fastest-growing market, fueled by the increasing adoption of solar energy systems and favorable government policies. Recent developments include Enphase Energy’s IQ® System Controller and Hoymiles’ MIT-5000-8T.

For a detailed briefing session with analysts, visit the SNS Insider website. The market report covers segments like type, power rating, end-user, and regional analysis. The competitive landscape includes key players like SMA, Enphase Energy, and Altenergy Power Systems. The market is expected to witness high growth, driven by technological innovations and a focus on energy efficiency.



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