Micro Inverter Market

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Micro Inverter Market Analysis, Research and
Trends Report 2022- 2028
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Industry Overview

• The global micro inverter market size is forecast
  to grow at a notable pace by 2028, fueled by the
  global race towards phasing out carbon-emissions
  producing energy sources and preventing the most
  devastating effects of climate change from
  becoming a reality.
• Recently, the Intergovernmental Panel on Climate
  Change stated that climate breakdown is speeding
  up at a rapid pace, with many of adverse impacts
  expected to be more severe than previously
  predicted. The UN body added that immediate
  action is needed to avoid the worst ravages of
  climate change.
• This is creating a considerable global appetite
  for more solar capacities, and micro inverters by
  extension. As per the IEA, in 2020, power
  generation through solar PV was estimated to have
  gone up by an unprecedented 156 TWh, representing
  a 23 growth from that of 2019.
• In fact, solar PV accounted for more than 3.1 of
  electricity generation of the world, and remains
  the third-biggest renewable electricity
  technology, second only to hydropower as well as
  onshore wind, having overtaking bioenergy back in
  2019.
• Meanwhile, the rapidly growing energy demand
  across the world is also pegged to play a key
  role in augmenting the industry prospects by
  fostering the adoption of additional solar PV
  capacities.

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• As per the most recent edition of the
  International Energy Agency's electricity market
  report, the global demand for electricity, after
  falling by approximately 1 in 2020 because of
  the coronavirus pandemic, is set to increase by
  more than 5 in 2021 and over 4 in 2022 and so
  forth driven in-part by the world's economic
  recovery.
• A micro inverter or inverter is a key equipment
  of the solar energy system, directly connecting
  its growth to that of the solar PV cells market.
  It is a device that essentially converts direct
  current (DC) electricity generated by the solar
  panel into alternating current (AC) electricity,
  which is the electricity that is fed into the
  grid. As more and more solar farms are
  constructed to provide energy to the grid, the
  demand for inverters is slated to go up at a
  sharp pace.
• Overall., the global micro inverter market is
  classified into different segments on the basis
  of phase, connectivity, application, and regional
  landscape.
• Based on the regional perspective, the MEA micro
  inverter market is slated to chalk out
  distinguished growth, particularly from the
  Middle East region. In fact, industry estimates
  expect the Middle East micro Inverter market
  share to grow at a rate of more than 13.6 by
  2028.

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