A research report from Global Market Insights Inc shows that the residential microinverter market is expected to exceed US$6.2 billion by 2032. The industry’s growth is driven by the growing adoption of residential solar energy as homeowners look to reduce energy costs and increase the size of their homes. Reduce your carbon footprint.
Microinverters offer significant advantages over traditional string inverters, including increased energy efficiency, increased safety, and better performance in shaded or partially shaded areas. These advantages make microinverters particularly attractive to residential users who want to maximize solar energy production and optimize the return on their solar panel investment.
Microinverters are also increasingly being integrated with smart home platforms, allowing homeowners to monitor and manage solar energy production in real time through mobile apps and other digital interfaces. This integration not only improves the user experience, but also aligns with broader trends in home automation and energy independence. As consumers become more tech-savvy and environmentally conscious, the demand for advanced, efficient and grid-connected solar solutions such as microinverters is expected to continue to rise, thereby driving market growth.
On a phased basis, the market size of residential microinverters in the three-phase segment is likely to grow strongly between 2024 and 2032 due to its ability to efficiently manage and distribute higher power loads, making it ideal for large residential solar installations. . Three-phase microinverters improve power output and reliability, especially in homes with higher power requirements and larger arrays of solar panels. This ability to more effectively balance electrical loads across all phases minimizes energy waste and improves overall system performance.
In terms of connectivity, the residential microinverter market in the off-grid segment is expected to witness profitable expansion from 2024 to 2032 as it will provide homeowners with greater flexibility and independence in managing their solar systems. Stand-alone microinverters allow each solar panel to operate independently, ensuring that the performance of one panel does not affect the performance of others. This is especially beneficial in residential areas where shading or partial shading can affect energy production. By ensuring optimal energy collection from each panel, off-grid microinverters maximize efficiency and appeal to homeowners looking for reliable and scalable solar solutions.
The residential microinverter market in Asia Pacific is expected to grow significantly by 2032 due to rapid urbanization and increasing adoption of solar energy, especially in countries such as China, India and Australia. Governments across the region are implementing preferential policies and incentives to promote renewable energy, including subsidies and tax breaks for residential solar installations. Growing awareness of environmental sustainability and the need to reduce energy costs are also encouraging homeowners in the Asia-Pacific region to invest in solar systems.
Some of the prominent players in the residential microinverter market include Chisageess, Dafang Electronics Co., Ltd., Hemai, Enphase Energy, TSUNESS Co., Ltd, SMA Solar Technology AG, LeadSolar Energy, Altenergy Power System, Inc., Ningbo Deye Inverter Technology Co. ., Ltd., Fimer Group, Growatt New Energy, Chilicon Power, LLC, Yotta Energy, Envertech (Zhejiang Enver Technology Co., Ltd.), Sparq Systems and Sensata Technologies, Inc.
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Global Market Insights Inc. Headquartered in Delaware, USA, is a global market research and advisory services provider that provides syndicated and customized research reports and growth advisory services. Our business intelligence and industry research reports provide clients with in-depth insights and actionable market data specifically designed and presented to help them make strategic decisions. These in-depth reports are developed using proprietary research methods and are suitable for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Post time: Oct-08-2024