The latest report by IMARC Group, titled “Asia Pacific Solar Microinverter Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, 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 is an electronic equipment used to convert the direct current (DC) generated by solar panels to alternating current (AC). It offers the ability to maintain a consistent flow of power despite shading of panels, and immense design flexibility as compared to conventionally used string converters. It also provides the capability to maximize power from solar panels through the maximum power point tracking (MPPT) technology and reduces the risk of fire. As it is safe, reliable, and cost-effective, the solar microinverter is gaining traction across the Asia Pacific region.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/asia-pacific-solar-microinverter-market/requestsample
Asia Pacific Solar Microinverter Market Trends and Drivers:
The increasing adoption of renewable energy sources to minimize the reliance on fossil fuels represents one of the major factors strengthening the market growth in the Asia Pacific region. Moreover, key players operating in the region are focusing on introducing advanced cooling techniques, such as liquid cooling and heat pipes, to help dissipate heat more efficiently. Apart from this, there is a rise in the integration of the internet of things (IoT) in solar microinverters that enable them to be remotely monitored and controlled for improving the reliability and performance of photovoltaic (PV) systems. Along with this, the growing penetration of wireless communication to transmit data and communicate with other components in a PV system is creating a positive outlook for the market in the region.
Report Segmentation:
The report has segmented the market into the following categories:
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
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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