How big is the microinverter market?

The three phase segment is anticipated to cross USD 800 million by 2034. The microinverter market size crossed USD 2.9 billion in 2024 and is estimated to grow at a CAGR of 10.6% from 2025 to 2034, driven by rising demand for plug-and-play solar systems.

Which country is leading the solar microinverter market?

North America contributes in for the solar microinverter market, where USA is leading way for the market. The USA market has experienced significant growth driven by a rise in demand for renewable energy, government support, and heightened awareness of the ecological advantages of solar power.

How much is the microinverter industry worth in 2022?

The microinverter industry was valued at USD 2.1 billion, USD 2.5 billion, and USD 2.9 billion in 2022, 2023, and 2024, respectively. Based on phase, the market is segmented into single phase and three phase categories.

What is the market share of microinverters in North America?

USA will lead the market share with 42.3% in North America due to solar adoption is high and the demand for microinverters is growing due to their superior panel-level optimization and safety features.

What are the top players in the microinverter market?

Top players in the microinverter market prioritize enhancing product scalability and customization to meet the diverse needs of residential, commercial, and utility-scale customers. They focus on building resilient supply chains and adopting flexible manufacturing processes to swiftly respond to market demand fluctuations.

Is Germany a good market for solar microinverters?

Germany remains one of the leading markets for solar microinverters in Europe. Thanks to a robust renewable energy framework and solid governmental backing, the nation has steadily expanded its solar energy capabilities.