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Market analysis of Micro-inverters

1 Shipments

Micro inverter shipments is rising up steadily, when it comes to supply chain of micro-inverters. Global micro inverter shipments in 2021 attained beyond 3.6GW. It anticipates that shipments of micro-inverters is constantly mounting in 2025, with a ballpark figure of 30GW. Restricted by applications and costly single-watt, the penetration rate of global micro inverters in the distributed solar PV market remains at nearly 2%-5%. With the soaring price of residential electricity around the world, micro-inverters as safe and efficient products will accelerate their penetration in the field of household photovoltaic.

2 Demand

The demand of micro-inverters ascended to 2.3GW in 2021, a growth of above 11%. The needs for the products is about to exceed 12GW following a stable rise of distributed solar PV market.

3 Market scale

Currently, micro-inverters realized a growth in the context of the expanding PV market. Under governments deepening attention to security, the industry is transferring string inverters to micro-inverters -- they are expected to become the mainstream of the next generation of inverters. It learned that the global micro inverter market size reached more than $4 billion in 2021, and it is foreseen that the market size is accomplishing almost $13 billion in 2027, with a compound annual growth rate of over 20%.

4 Regions

According to the sales region of micro-inverters, North America and Europe are the prime consumption markets for micro-inverters at present, grabbing market shares of 24% and 29% respectively. Secondly, the Asia-Pacific region, the Middle East and Africa region, Latin America catch the market share of about 22%, 8%, 7% each other. In contrast, Asia, the Middle East and Latin America suffers from some limits like weak consumption capacity and low policy maturity, triggering a shortcoming at cost.

5 Applications

The global micro inverter market can be majorly divided into residential power and commercial power. Specifically, the residential user market accounted for nearly 64%, and commercial electricity occupied roughly 36%.



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