Asia Pacific Solar Microinverter Market

Market Overview:

The Asia Pacific solar microinverter market size reached US$ 511.9 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,234 Million by 2028, exhibiting a growth rate (CAGR) of 15.12% during 2023-2028.

A solar microinverter refers to a device that converts direct current (DC) generated by a solar panel into alternating current. It differs from string inverters and central inverters as the solar microinverter is attached to solar panels and converts the current separately. It has various benefits, such as the ability to increasing the power by using the Maximum Power Point Tracking (MPPT) technology and maintaining a consistent flow of energy compared to its conventional counterparts. Solar microinverters are gaining traction across the Asia Pacific region due to the increasing environmental concerns.

The Asia Pacific solar microinverter market is primarily driven by the rising shift from fossil fuel-based energy generation toward more sustainable and cleaner power source alternatives. Besides this, the implementation of favorable regulations and numerous government subsidies have resulted in the installation of solar power infrastructures, including microinverters. Furthermore, the customization of solar microinverter as per the requirement of users and the extended warranty period, along with increasing adoption of building-integrated photovoltaics, is also catalyzing the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific solar microinverter market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on connectivity, component, communication channel, type and application.

Breakup by Connectivity:

• Standalone
• On-Grid
   

Breakup by Component:

• Hardware
• Software
   

Breakup by Communication Channel:

• Wired
• Wireless
   

Breakup by Type:

• Single Phase
• Three Phase
   

Breakup by Application:

• Residential
• Commercial
• Others
   

Breakup by Country:

• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Key Questions Answered in This Report:

• How has the Asia Pacific solar microinverter market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Asia Pacific solar microinverter market?
• What are the key regional markets?
• What is the breakup of the market based on the connectivity?
• What is the breakup of the market based on the component?
• What is the breakup of the market based on the communication channel?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the application?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the Asia Pacific solar microinverter market and who are the key players?
• What is the degree of competition in the industry?