Solar Microinverter Market: Global Industry Trends, Share, Size, Growth, Opportunity by Region (North America, Asia Pacific, The Middle East & Africa, Latin America, Europe) And Forecast 2023-20230 The global Solar Microinverter Market size was worth around USD 2.63 billion in 2021 and is predicted to grow around USD 5.86 billion by 2030 with a compound annual growth rate of roughly 9.32% between 2022 and 2030. In the coming years, the global solar inverter market is expected to expand due to rising demand for green energy as a result of rising power consumption and falling costs of producing renewable energy. Renewable energy production costs have dropped dramatically, and it is now cost-effective in meeting the growing demand for electricity. Government initiatives such as energy-saving certificates are expected to drive growth in the global Solar Inverter market. Furthermore, governments all over the world are focusing on infrastructure development in order to raise their citizens' standard of living. For example, the UAE government is primarily focused on the Smart Dubai plan, which aims to transform the city into a global leader in smart cities.
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Regional Landscape: ASIA PACIFIC IS DOMINATING THE MARKET SHARE DUE TO INCREASING PRODUCT DEMAND FROM DEVELOPING COUNTRIES The Indian solar micro inverter market is primarily driven by the transition from fossil fuel-based to renewable and clean energy sources. Moreover, in response to growing environmental concerns, the Indian government has implemented a number of policies t hat encourage the use of renewable energy sources. This has increased the demand for solar microinverter, which contribute to the reduction of carbon emissions. In addition, the rising price of fossil fuels makes solar power a cost-effective alternative, thereby increasing the demand for microinverter throughout the region. Enquire Before Buying Solar Microinverter Market Report@ https://www.extrapolate.com/enquire/Energy-and-Power/solar-microinverter-market/76381
COMPETITIVE LANDSCAPE:
Enphase Energy
SMA Solar Technology AG,
ABB, SunPower Corporation,