How big is the microinverter market?

The three phase segment is anticipated to cross USD 800 million by 2034. The microinverter market size crossed USD 2.9 billion in 2024 and is estimated to grow at a CAGR of 10.6% from 2025 to 2034, driven by rising demand for plug-and-play solar systems.

What is the segmentation of microinverter market?

Based on application, the microinverter market is segmented into residential and commercial sectors. The residential market held 90.1% market share in 2024, fueled by the increasing demand for user-friendly and efficient home solar solutions.

What are the top players in the microinverter market?

Top players in the microinverter market prioritize enhancing product scalability and customization to meet the diverse needs of residential, commercial, and utility-scale customers. They focus on building resilient supply chains and adopting flexible manufacturing processes to swiftly respond to market demand fluctuations.

How will microinverters drive market development?

Additionally, widespread acceptance of microinverters is expected to accelerate market development. Increased emphasis on grid resilience and the demand for quick restoration of power in blackout-prone areas will help drive product demand.

What is a single phase microinverter market?

Based on phase, the market is segmented into single phase and three phase categories. The single phase microinverter segment is projected to grow at 10.4% CAGR from 2025 to 2034, driven by the rising integration of single phase solar and energy storage systems in residential applications.