Grenada Micro-inverter Market (2025-2031) | Revenue, Trends, Outlook, Growth, Companies, Analysis, Size, Segmentation, Industry, Share, Forecast & Value

Name: Grenada Micro-inverter Market (2025-2031) | Trends, Outlook & Forecast
Creator: 6Wresearch
License: https://www.6wresearch.com/privacy-policy
Keywords: Micro-inverter Market, Grenada Micro-inverter Market, Grenada Micro-inverter Market Revenues, Grenada Micro-inverter Market Share, Grenada Micro-inverter Market Size, Grenada Micro-inverter Market Outlook, Grenada Micro-inverter Market Report, Grenada Micro-inverter Market Competition, Grenada Micro-inverter Market Overview, Grenada Micro-inverter Market Trends, Grenada Micro-inverter Market Forecast

Market Forecast By Offering (Hardware, Software & Services), By Communication Technology (Wired, Wireless), By Type (Single Phase, Three Phase), By Power Rating (Below 250 W, Between 250 W and 500 W, Above 500 W), By Connection Type (Stand-alone, Grid-tied), By Sales Channel (Direct, Indirect), By Application (Residential, Commercial, PV Power Plant) And Competitive Landscape

Product Code: ETC5623792	Publication Date: Nov 2023	Updated Date: Oct 2025	Product Type: Market Research Report
Publisher: 6Wresearch	Author: Vasudha	No. of Pages: 60	No. of Figures: 30	No. of Tables: 5

Grenada Micro-inverter Market Top 5 Importing Countries and Market Competition (HHI) Analysis

The import shipments of micro-inverters to Grenada in 2024 saw a significant increase in market concentration, with top exporters being the USA, Trinidad and Tobago, UK, China, and Ireland. The high Herfindahl-Hirschman Index (HHI) indicates a very concentrated market. Despite a negative compound annual growth rate (CAGR) from 2020 to 2024, there was a notable growth rate of 13.08% in 2024 compared to the previous year. This suggests a potential shift in market dynamics and an increasing demand for micro-inverters in Grenada.

Grenada Micro-inverter Market Overview

Micro-inverters in Grenada are small devices used in solar photovoltaic (PV) systems to convert direct current (DC) electricity into alternating current (AC). The market for micro-inverters in Grenada is expanding as the country embraces solar energy solutions. These inverters offer improved energy efficiency, flexibility in system design, and better performance monitoring, making them increasingly popular in residential and commercial solar installations.

Drivers of the market

The Grenada micro-inverter market is propelled by the growing adoption of solar energy solutions. Micro-inverters enhance the efficiency of solar power systems by optimizing energy output at the individual panel level. The increasing focus on renewable energy adoption, coupled with government incentives for solar installations, is driving market demand.

Challenges of the market

The Grenada Micro-inverter market faces challenges related to the small size of the local renewable energy market, which limits demand for micro-inverters used in solar power systems. High initial costs for solar equipment, including micro-inverters, make them less accessible to homeowners and businesses. The lack of incentives or subsidies for renewable energy further restricts market growth.

Government Policy of the market

The Grenadian government has implemented policies aimed at supporting the growth of the micro-inverter market, particularly in the renewable energy sector. By encouraging the use of solar power and energy-efficient technologies, the government is fostering a market for micro-inverters, which are integral to the solar energy infrastructure. These policies include providing incentives for the installation of solar panels and micro-inverters in residential and commercial buildings. Additionally, the government promotes research and development in energy-efficient technologies, aiming to reduce the cost of energy and enhance Grenada`s sustainability goals.

Key Highlights of the Report:

Grenada Micro-inverter Market Outlook
Market Size of Grenada Micro-inverter Market, 2024
Forecast of Grenada Micro-inverter Market, 2031
Historical Data and Forecast of Grenada Micro-inverter Revenues & Volume for the Period 2021-2031
Grenada Micro-inverter Market Trend Evolution
Grenada Micro-inverter Market Drivers and Challenges
Grenada Micro-inverter Price Trends
Grenada Micro-inverter Porter`s Five Forces
Grenada Micro-inverter Industry Life Cycle
Historical Data and Forecast of Grenada Micro-inverter Market Revenues & Volume By Offering for the Period 2021-2031
Historical Data and Forecast of Grenada Micro-inverter Market Revenues & Volume By Hardware for the Period 2021-2031
Historical Data and Forecast of Grenada Micro-inverter Market Revenues & Volume By Software & Services for the Period 2021-2031
Historical Data and Forecast of Grenada Micro-inverter Market Revenues & Volume By Communication Technology for the Period 2021-2031
Historical Data and Forecast of Grenada Micro-inverter Market Revenues & Volume By Wired for the Period 2021-2031
Historical Data and Forecast of Grenada Micro-inverter Market Revenues & Volume By Wireless for the Period 2021-2031
Historical Data and Forecast of Grenada Micro-inverter Market Revenues & Volume By Type for the Period 2021-2031
Historical Data and Forecast of Grenada Micro-inverter Market Revenues & Volume By Single Phase for the Period 2021-2031
Historical Data and Forecast of Grenada Micro-inverter Market Revenues & Volume By Three Phase for the Period 2021-2031
Historical Data and Forecast of Grenada Micro-inverter Market Revenues & Volume By Power Rating for the Period 2021-2031
Historical Data and Forecast of Grenada Micro-inverter Market Revenues & Volume By Below 250 W for the Period 2021-2031
Historical Data and Forecast of Grenada Micro-inverter Market Revenues & Volume By Between 250 W and 500 W for the Period 2021-2031
Historical Data and Forecast of Grenada Micro-inverter Market Revenues & Volume By Above 500 W for the Period 2021-2031
Historical Data and Forecast of Grenada Micro-inverter Market Revenues & Volume By Connection Type for the Period 2021-2031
Historical Data and Forecast of Grenada Micro-inverter Market Revenues & Volume By Stand-alone for the Period 2021-2031
Historical Data and Forecast of Grenada Micro-inverter Market Revenues & Volume By Grid-tied for the Period 2021-2031
Historical Data and Forecast of Grenada Micro-inverter Market Revenues & Volume By Sales Channel for the Period 2021-2031
Historical Data and Forecast of Grenada Micro-inverter Market Revenues & Volume By Direct for the Period 2021-2031
Historical Data and Forecast of Grenada Micro-inverter Market Revenues & Volume By Indirect for the Period 2021-2031
Historical Data and Forecast of Grenada Micro-inverter Market Revenues & Volume By Application for the Period 2021-2031
Historical Data and Forecast of Grenada Micro-inverter Market Revenues & Volume By Residential for the Period 2021-2031
Historical Data and Forecast of Grenada Micro-inverter Market Revenues & Volume By Commercial for the Period 2021-2031
Historical Data and Forecast of Grenada Micro-inverter Market Revenues & Volume By PV Power Plant for the Period 2021-2031
Grenada Micro-inverter Import Export Trade Statistics
Market Opportunity Assessment By Offering
Market Opportunity Assessment By Communication Technology
Market Opportunity Assessment By Type
Market Opportunity Assessment By Power Rating
Market Opportunity Assessment By Connection Type
Market Opportunity Assessment By Sales Channel
Market Opportunity Assessment By Application
Grenada Micro-inverter Top Companies Market Share
Grenada Micro-inverter Competitive Benchmarking By Technical and Operational Parameters
Grenada Micro-inverter Company Profiles
Grenada Micro-inverter Key Strategic Recommendations

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1 Executive Summary

2 Introduction

2.1 Key Highlights of the Report

2.2 Report Description

2.3 Market Scope & Segmentation

2.4 Research Methodology

2.5 Assumptions

3 Grenada Micro-inverter Market Overview

3.1 Grenada Country Macro Economic Indicators

3.2 Grenada Micro-inverter Market Revenues & Volume, 2021 & 2031F

3.3 Grenada Micro-inverter Market - Industry Life Cycle

3.4 Grenada Micro-inverter Market - Porter's Five Forces

3.5 Grenada Micro-inverter Market Revenues & Volume Share, By Offering, 2021 & 2031F

3.6 Grenada Micro-inverter Market Revenues & Volume Share, By Communication Technology, 2021 & 2031F

3.7 Grenada Micro-inverter Market Revenues & Volume Share, By Type, 2021 & 2031F

3.8 Grenada Micro-inverter Market Revenues & Volume Share, By Power Rating, 2021 & 2031F

3.9 Grenada Micro-inverter Market Revenues & Volume Share, By Connection Type, 2021 & 2031F

3.10 Grenada Micro-inverter Market Revenues & Volume Share, By Sales Channel, 2021 & 2031F

3.11 Grenada Micro-inverter Market Revenues & Volume Share, By Application, 2021 & 2031F

4 Grenada Micro-inverter Market Dynamics

4.1 Impact Analysis

4.2 Market Drivers

4.2.1 Increasing demand for renewable energy sources in Grenada

4.2.2 Government initiatives and incentives promoting the adoption of solar energy

4.2.3 Growing awareness and concern for environmental sustainability

4.3 Market Restraints

4.3.1 High initial investment cost for micro-inverters

4.3.2 Limited access to financing options for consumers

4.3.3 Lack of skilled professionals for installation and maintenance of micro-inverters

5 Grenada Micro-inverter Market Trends

6 Grenada Micro-inverter Market Segmentations

6.1 Grenada Micro-inverter Market, By Offering

6.1.1 Overview and Analysis

6.1.2 Grenada Micro-inverter Market Revenues & Volume, By Hardware, 2021-2031F

6.1.3 Grenada Micro-inverter Market Revenues & Volume, By Software & Services, 2021-2031F

6.2 Grenada Micro-inverter Market, By Communication Technology

6.2.1 Overview and Analysis

6.2.2 Grenada Micro-inverter Market Revenues & Volume, By Wired, 2021-2031F

6.2.3 Grenada Micro-inverter Market Revenues & Volume, By Wireless, 2021-2031F

6.3 Grenada Micro-inverter Market, By Type

6.3.1 Overview and Analysis

6.3.2 Grenada Micro-inverter Market Revenues & Volume, By Single Phase, 2021-2031F

6.3.3 Grenada Micro-inverter Market Revenues & Volume, By Three Phase, 2021-2031F

6.4 Grenada Micro-inverter Market, By Power Rating

6.4.1 Overview and Analysis

6.4.2 Grenada Micro-inverter Market Revenues & Volume, By Below 250 W, 2021-2031F

6.4.3 Grenada Micro-inverter Market Revenues & Volume, By Between 250 W and 500 W, 2021-2031F

6.4.4 Grenada Micro-inverter Market Revenues & Volume, By Above 500 W, 2021-2031F

6.5 Grenada Micro-inverter Market, By Connection Type

6.5.1 Overview and Analysis

6.5.2 Grenada Micro-inverter Market Revenues & Volume, By Stand-alone, 2021-2031F

6.5.3 Grenada Micro-inverter Market Revenues & Volume, By Grid-tied, 2021-2031F

6.6 Grenada Micro-inverter Market, By Sales Channel

6.6.1 Overview and Analysis

6.6.2 Grenada Micro-inverter Market Revenues & Volume, By Direct, 2021-2031F

6.6.3 Grenada Micro-inverter Market Revenues & Volume, By Indirect, 2021-2031F

6.7 Grenada Micro-inverter Market, By Application

6.7.1 Overview and Analysis

6.7.2 Grenada Micro-inverter Market Revenues & Volume, By Residential, 2021-2031F

6.7.3 Grenada Micro-inverter Market Revenues & Volume, By Commercial, 2021-2031F

6.7.4 Grenada Micro-inverter Market Revenues & Volume, By , 2021-2031F

7 Grenada Micro-inverter Market Import-Export Trade Statistics

7.1 Grenada Micro-inverter Market Export to Major Countries

7.2 Grenada Micro-inverter Market Imports from Major Countries

8 Grenada Micro-inverter Market Key Performance Indicators

8.1 Average installation time for micro-inverters

8.2 Number of new solar panel installations in Grenada

8.3 Percentage of energy generated from solar sources in Grenada

9 Grenada Micro-inverter Market - Opportunity Assessment

9.1 Grenada Micro-inverter Market Opportunity Assessment, By Offering, 2021 & 2031F

9.2 Grenada Micro-inverter Market Opportunity Assessment, By Communication Technology, 2021 & 2031F

9.3 Grenada Micro-inverter Market Opportunity Assessment, By Type, 2021 & 2031F

9.4 Grenada Micro-inverter Market Opportunity Assessment, By Power Rating, 2021 & 2031F

9.5 Grenada Micro-inverter Market Opportunity Assessment, By Connection Type, 2021 & 2031F

9.6 Grenada Micro-inverter Market Opportunity Assessment, By Sales Channel, 2021 & 2031F

9.7 Grenada Micro-inverter Market Opportunity Assessment, By Application, 2021 & 2031F

10 Grenada Micro-inverter Market - Competitive Landscape

10.1 Grenada Micro-inverter Market Revenue Share, By Companies, 2024

10.2 Grenada Micro-inverter Market Competitive Benchmarking, By Operating and Technical Parameters

11 Company Profiles

12 Recommendations

13 Disclaimer

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Export potential assessment - trade Analytics for 2030

Export potential enables firms to identify high-growth global markets with greater confidence by combining advanced trade intelligence with a structured quantitative methodology. The framework analyzes emerging demand trends and country-level import patterns while integrating macroeconomic and trade datasets such as GDP and population forecasts, bilateral import–export flows, tariff structures, elasticity differentials between developed and developing economies, geographic distance, and import demand projections. Using weighted trade values from 2020–2024 as the base period to project country-to-country export potential for 2030, these inputs are operationalized through calculated drivers such as gravity model parameters, tariff impact factors, and projected GDP per-capita growth. Through an analysis of hidden potentials, demand hotspots, and market conditions that are most favorable to success, this method enables firms to focus on target countries, maximize returns, and global expansion with data, backed by accuracy.

By factoring in the projected importer demand gap that is currently unmet and could be potential opportunity, it identifies the potential for the Exporter (Country) among 190 countries, against the general trade analysis, which identifies the biggest importer or exporter.

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