United States Solar Microinverter Market

Market Overview:

The United States solar microinverter market size reached US$ 346.2 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 693 Million by 2028, exhibiting a growth rate (CAGR) of 12.14% during 2023-2028.

A solar microinverter refers to electronic equipment that changes the waveform of the current produced by photovoltaic (PV) cells. It functions in a parallel circuit as it is used for changing direct current (DC) into alternating current (AC). Solar microinverters have the ability to maintain a consistent flow of power despite the shading of panels and have other advantages such as immense design flexibility and the capability to maximize power from solar panels by using the Maximum Point Tracking (MPPT) technology. 

The United States solar microinverter market is primarily driven by the introduction of regulatory frameworks and policies to develop solar infrastructures and the rapid adoption of advanced technologies. Additionally, the rise in the demand for safe and sustainable power sources, coupled with several up-gradations in battery storage technology, are also influencing the market growth. Furthermore, there has been an increase in the development of solar power plants in the region. Along with this, the rising popularity of crystalline silicon PV modules has escalated the demand for solar microinverters across the country.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the United States solar microinverter market report, along with forecasts at the country and regional 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 Region:

• Northeast
• Midwest
• South
• West
   

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 United States 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 United States 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 United States solar microinverter market and who are the key players?
• What is the degree of competition in the industry?