Micro-inverter Industry Set to Achieve $14.5 Billion Market Value by 2029
Delray Beach, FL, Aug. 20, 2025 (GLOBE NEWSWIRE) -- According to the new market research report "Micro-inverter Market by Offering, Communication Technology (Wired, Wireless), Type (Single Phase, Three Phase), Power Rating (Below 250 W, Between 250 & 500 W, Above 500 W), Connection Type, Sales Channel, Application - Global Forecast to 2029" The global Micro Inverter Industry Size is expected to be valued at USD 4.9 billion in 2024 and is projected to reach USD 14.5 billion by 2029; it is expected to grow at a CAGR of 24.1% from 2023 to 2028.
The growth of the micro-inverter Industry is propelled by increasing energy prices that contribute to the installation of solar panels and rising energy demand across the globe. However, limited power handling capacity and high installation and maintenance costs restrain the market's growth.
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Major Key Players in the Micro-inverter Industry:
- Enphase Energy (US),
- Altenergy Power Systems (US),
- Hoymiles (China),
- Ningbo Deye Inverter Technology Co Ltd (China),
- Chilicon Power LLC (US),
- AEconversion GmbH & CO. KG (Germany),
- Envertech (China),
- ZJBENY (China),
- Bluesun Solar Co., Ltd. (China), and
- Solar Panels Plus (US)
Micro-inverter Market Segmentation Analysis:
By Segment, Micro-inverter Industry for Wireless is expected to have the highest CAGR during the forecast period.
The wireless segment in the micro-inverter industry is expected to grow at the highest CAGR during the forecast period. Wireless communication technologies, such as Wi-Fi and Zigbee, provide enhanced flexibility and simplified installation when compared to conventional wired alternatives. Moreover, wireless communication facilitates greater scalability in solar installations, aligning with the increasing trend of distributed energy resources. The growing preference for intelligent and interconnected energy systems made possible through wireless communication is a significant factor contributing to the growth of this segment.
By Segment, Micro-inverter Industry for grid-tied is anticipated to dominate during the forecast period.
The grid-tied segment is expected to dominate in the forecast period. Currently, most micro-inverters associated with solar panels in residential, commercial, and PV power plant applications are linked or connected to the electrical grid. In numerous urban and suburban settings, residences and businesses maintain a connection to the electrical grid. Furthermore, grid-tied micro-inverters support energy sustainability without necessitating the use of energy storage solutions. Surplus energy generated during abundant sunlight can seamlessly be fed back into the grid, effectively serving as a distributed power source for the community.
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Market Expansion Across the Region:
North America to dominate the Micro-inverter market during the forecast period.
North America is expected to dominate the micro-inverter industry during the forecast period. This is due to numerous installations in countries like the United States and Canada. The United States, in particular, stands out as one of the pioneering nations in the widespread adoption of micro-inverters. Additionally, the region benefits from the presence of several major companies, including Enphase Energy, Alt energy Power System, and Chilicon Power.
Asia Pacific region holds the largest share of the Micro-inverter Market.
Numerous countries in the Asia Pacific region, including India, China, and Australia, are actively engaging in investments and advocacy for adopting renewable energy sources. The rising awareness of environmental sustainability and the imperative to diminish carbon footprints have resulted in a notable upswing in the request for solar power. This heightened demand is contributing to the expansion of the micro-inverter market size. Moreover, these countries are implementing supportive policies, offering financial incentives, and promoting research and development initiatives to further accelerate the adoption of solar technologies, particularly micro-inverters, in their pursuit of sustainable energy solutions.
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Micro-inverter Market Key Takeaways
- By Market Size & Growth, Micro-inverter market is projected to reach USD 14.5 billion by 2029, growing from USD 4.9 billion in 2024 at a CAGR of 24.1% during the forecast period from 2024 to 2029.
- By being driven by rising energy costs and electricity demand, both homeowners and businesses are adopting micro-inverter solutions to reduce energy bills and improve self-sufficiency.
- By simplifying solar installations, micro-inverters are gaining popularity due to their per-panel design, making system management easier, especially in residential and commercial rooftops.
- By benefiting from supportive policies, solar incentives and clean energy regulations across regions like North America and Asia Pacific are making micro-inverter investments more accessible and attractive.
- By evolving communication capabilities, wired systems remain the preferred choice for their reliability, while wireless technologies like Wi-Fi and Zigbee are increasingly adopted for their flexibility.
- By showcasing regional strength, North America continues to lead the market due to strong manufacturer presence, while Asia Pacific is the fastest-growing region, supported by government solar targets and expanding production capacity.
- By favoring mid-range power ratings, micro-inverters in the 250–500?W range are most commonly used, offering optimal compatibility with modern residential and commercial solar panels.
- By being widely adopted across applications, micro-inverters are used in residential rooftops, commercial installations, and even utility-scale farms—with grid-tied systems being the dominant setup worldwide.
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