Micro Inverter Market with Current and Future Growth Analysis by Forecast From 2020 - 2025
The Micro Inverter Market Size was estimated at USD 2.5 billion in 2020 and is anticipated to increase at a CAGR of 20.8% from 2020 to 2025, reaching USD 6.5 billion. The main drivers of this market's expansion are the rising demand for micro-inverter solutions in residential applications, increased awareness of their inherent advantages, such as remote monitoring capabilities, rise in renewable energy investment, and government programmes that promote the use of renewable energy. The Micro-Inverter Market in 2020 was dominated by single-phase micro-inverters. Compact and ideal for both home and commercial uses are single-phase micro-inverters. The residential market uses single-phase systems for power transmission. The US, Australia, and Europe all use single-phase micro-inverters for residential purposes. Additionally, the majority of micro-inverter producers worldwide offer single-phase micro-inverters. Due to all of these characteristics, single-phase micro-inverters c...