According to a new report, published by KBV research, The Global Micro Inverter Market size is expected to reach $7.4 billion by 2028, rising at a market growth of 17.8% CAGR during the forecast period.
The Three phase segment is showcasing a CAGR of 18.4% during (2022 - 2028). A three-phase inverter is a form of solar micro inverter that is designed to provide three-phase power. In traditional one-phase micro inverter designs, the energy from the panel should be retained during the period when the voltage passes through zero, which happens twice every cycle (at 50 or 60 Hz). Because one of the three wires in a three-phase system has a positive (or negative) voltage all through the cycle, the required storage can be considerably reduced by shifting the panel's output to other wires all through each cycle.
The Grid Connected segment acquired maximum revenue share in the Global Micro Inverter Market by Connection in 2021, thereby, achieving a market value of $5,059.5 million by 2028. The industry's requirements will be met by flexibility paired with a greater energy conversion rate. To develop their operations comprehensively, major corporations are focusing on manufacturing in tandem with shipping. The grid connections are in greater demand to be incorporated by majority of organizations.
The Commercial segment has shown growth rate of 19.5% during (2022 - 2028). Commercial- Distributed architecture allows users to get more power out of each panel. For instance, Burst Mode technology allows users to generate more power in low-light situations. With double-insulated micro inverters, a user may generate greater power over time.
The Asia Pacific market dominated the Global Micro Inverter Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,898 million by 2028. The Europe market is estimated to witness a CAGR of 17.3% during (2022 - 2028). Additionally, The North America market would experience a CAGR of 17.1% during (2022 - 2028).
Free Valuable Insights: The Global Micro Inverter Market is Estimated to reach $7.4 Billion by 2028, at a CAGR of 17.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, Delta Electronics, Inc., STMicroelectronics N.V., Texas Instruments, Inc., Sensata Technologies Holdings PLC, Darfon Electronics Corporation, Enphase Energy, Inc., Sparq Systems Inc., Fimer S.p.A., and SolarEdge Technologies, Inc.
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