The North America solar inverters market is expected to reach US$ 3,293.82 million by 2028 from US$ 2,104.70 million in 2022; it is estimated to grow at a CAGR of 7.8% from 2022 to 2028.
The economic aspect is the biggest incentive for installing home rooftop solar panels. Solar energy emerged as one of the most promising and widely accepted renewable energy sources. Residential solar solutions can provide free, uninterrupted electricity for years while simultaneously contributing to a greener environment. Residential solar rooftop systems are also easy to install and require minimal maintenance. The electricity produced in excess can be sold to the grid through a net-metering facility, directly impacting the existing electricity bills. With depleting fossil fuel reserves, accelerated environmental degradation, and pressure on the power generation infrastructure, several governments have taken various steps in the form of subsidies to accelerate the adoption of solar energy by providing residential solar solutions. The rise in residential solar rooftop installations is supporting the North America solar inverters market growth. The market is expected to grow at a good CAGR during the forecast period.
North America Solar Inverters Market Revenue and Forecast to 2028 (US$ Million)
North America Solar Inverters Market Segmentation
The North America solar inverters market is segmented into type, system type, end user, and country. Based on type, the market is segmented into central, string, and micro. The central segment would lead the North America solar inverters market in 2022. Based on system type, the market is bifurcated into on-grid and off-grid. The on-grid segment would dominate the North America solar inverters market in 2022. Based on end user, the market is segmented into residential, commercial, and utility. The utility segment would lead the North America solar inverters market in 2022. By country, the North America solar inverters market is segmented into the US, Canada, and Mexico. The US would lead the North America solar inverters market in 2022.
FIMER S.a.p, Delta Electronics, Enertechups, GOODWE, Power Electronics S.L, SMA Solar Technology AG, SolarEdge Technologies, and Hitachi Hi-Rel Power Electronic Pvt. Ltd are among the leading companies in the North America solar inverters market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 2,104.70 Million |
| Market Size by 2028 | US$ 3,293.82 Million |
| CAGR (2022 - 2028) | 7.8% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Solar Inverters Market is valued at US$ 2,104.70 Million in 2022, it is projected to reach US$ 3,293.82 Million by 2028.
As per our report North America Solar Inverters Market, the market size is valued at US$ 2,104.70 Million in 2022, projecting it to reach US$ 3,293.82 Million by 2028. This translates to a CAGR of approximately 7.8% during the forecast period.
The North America Solar Inverters Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Solar Inverters Market report:
The North America Solar Inverters Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Solar Inverters Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Solar Inverters Market value chain can benefit from the information contained in a comprehensive market report.
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