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The GCC solar microinverter market is currently witnessing moderate growth. A solar microinverter is a device used in photovoltaics to convert the direct current (DC) generated by a single solar panel to alternating current (AC). It is attached to each solar panel and helps in changing the current separately. Unlike string and central inverters, which are primarily used with commercial and utility-sized solar power stations, the solar microinverter offers various benefits such as harvesting optimum power by using Maximum Power Point Tracking (MPPT) technology and simplifying stock management.
The GCC solar microinverter market is primarily driven by the increasing adoption of renewable energy resources like solar power for residential, commercial, and industrial use. The presence of high-capacity solar power plants in countries like the UAE and Saudi Arabia has also increased the demand for efficient solar microinverters in the region. Along with this, there have been rising investments in the development of cleaner and sustainable energy infrastructure, which is contributing to the market growth. Additionally, governments of various GCC countries are providing immense support in the form of initiatives, such as tax rebates and subsidies, thereby increasing the sales of the product. Furthermore, the ever-increasing penetration of international players and the growing mergers and acquisitions amongst companies have led to the introduction of advanced products in the region. On account of these factors, the market is expected to continue its robust growth during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the GCC solar microinverter market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, connectivity, component, communication channel, type and application.
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The competitive landscape of the industry has also been examined along with the profiles of the key players.
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