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Micro Inverter Market Overview:
Maximize Market Research has Published an intelligence report entitled Micro Inverter Market 2021 by Manufacturers, Regions, Type and Application, Forecast to 2027 that is the complete creation of meticulous primary and secondary research. The report thoroughly covers analysed insights in view of the market along with its ever-changing patterns, industry environment, and all dominant aspects of the market. This research methodology has been applied to examine the Micro Inverter market and these findings have been logically mentioned in this report.
Factors driving the growth of micro inverters market are increasing consumer preference towards greater efficiency of solar power systems, rising electricity demand, increasing government investments and tariffs on photovoltaic technology and growing applications in the residential sector. Growing awareness towards the level of solar power systems have led to other regional markets focusing on implementing regulations such as National Electric Code (NEC). Additionally, the drop in micro inverter prices along with various government initiatives have resulted in higher adoption of PV installations across the globe. Such trends are expected to propel the demand for micro inverters during the forecast period. Higher capital expenditure and significant rise in power optimizers are the major factors that are expected to hamper the growth of global solar micro inverters market. Micro inverters replace large parts of a central inverter, which makes them costlier as compared to other traditional inverters. Additionally, the installation of micro inverters requires the installation of a communication bus, which would further add up to the final costs.