Global Micro Inverter Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026 at a CAGR of XX% during the forecast period.
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.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
The micro-inverter market based on type is led by the single phase segment. Micro-inverters were invented with single-phase technology. Single-phase technology enables the system to have a compressed size, which is well suited for residential and commercial applications. Most of the micro-inverter companies across the world offer single-phase systems. Also, as single-phase electricity transmission is well suited for residential applications, which is also one of the major markets for micro-inverters, observer high demand worldwide. For instance, in countries like the US, Australia, and European countries, the residential segment operates on single-phase transmissions of electricity.
North America held the highest size of the micro-inverter market in 2017, followed by Europe and APAC. The high number of micro-inverter installations in the region, mainly in the US and Canada, attributes to the leading position of the region in the micro-inverter market. The US was the first country in terms of wide scaleimplementation of micro-inverter technology, especially for residential applications. This is one of the key factors that have led to the dominant position of North America in the micro-inverter market. In adding, favorable economic conditions and the growing solar PV market, as well as supportive regulatory policies aiding residential solar electricity generation in the US and other countries in the region, encourage several domestic and international industrialists to enhance their micro-inverter offerings for efficient energy supply.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by type, end use, and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Micro Inverter market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Scope of Global Micro Inverter Market :
Global Micro Inverter Market, By Type
Global Micro Inverter Market, By Connection
Global Micro Inverter Market, By End User
Global Micro Inverter Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Micro Inverter Market
• Enphase Energy Inc.
• ABB Group
• SunPower Corporation
• SMA Solar Technology AG
• Delta Energy Systems GmbH
• SolarEdge Technologies, Inc.
• Siemens AG
• P&P Energy Technology Co., Ltd.
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