Market Overview:
Micro solar inverters are witnessing a surge in demand due to the increasing awareness about the benefits of solar energy among consumers. The global micro solar inverter market is expected to grow at a CAGR of 10.5% during the forecast period 2018-2030. In terms of volume, the market is projected to reach 9,584 thousand units by 2030. The global micro solar inverter market can be segmented on the basis of type, application and region. On the basis of type, single-phase inverters accounted for majority share in 2017 and are expected to maintain their dominance during forecast period as well. However, three-phase and multiphase inverters are anticipated to witness highest growth rate over next decade owing to growing demand from utility sector across globe. On the basis of application, residential sector dominated in terms with around 60% share in 2017 and is projected to maintain its dominance throughout forecast period as well; however commercial sector would exhibit highest CAGR over next decade attributed by increasing installation base across developed economies such as UAS.
Product Definition:
A micro solar inverter is a type of solar inverter that is designed to process very low power levels, typically in the range of one to ten watts. They are often used in conjunction with small solar arrays, such as those found on residential rooftops.
Micro solar inverters are important because they allow homeowners and businesses to take advantage of small-scale solar energy systems without having to invest in a large and expensive centralised system. By using micro solar inverters, people can generate their own power from the sun without needing to make significant changes to their home or business infrastructure.
Single-Phase Inverter:
Single-phase inverter is a type of electric power supply used in micro solar generators. It has one electrical phase that produces an output voltage between 0 and the maximum voltage rating of the generator. The single-phase inverter works on different principles depending upon whether it is AC or DC type, with its basic function being to convert energy from one form to another according to requirements.
Three-Phase Inverter:
Three-phase inverter is a type of electric generator that operates on the principle of alternation. It is used to convert DC electricity into Alternating Current (AC). The three-phase inverter has three windings, namely, primary, secondary and tertiary windings. A single phase inverter has only one winding which is generally known as the main or prime winding.
Application Insights:
The utility segment dominated the global market in terms of revenue share in 2017. The growing need for renewable energy, such as solar power, is driving the demand for micro solar inverters across various applications. Increasing number of residential and commercial constructions coupled with rising demand from off-grid applications are expected to propel the growth over the forecast period.
Micro solar inverters find application across a wide range of industries including telecom & IT, retail & hospitality, healthcare and education among others which require large scale electricity generation capacities on a small land area or roof top space available. Large scale installations also help reduce project cost by 30% to 40%. Such benefits provided by microsolar inverter are anticipated to fuel its demand over next seven years especially in developing regions like Asia Pacific and Middle East & Africa where there is an increased focus on reducing carbon footprint while increasing energy security needs.
Regional Analysis:
Asia Pacific regional market accounted for the largest share of global revenue in 2017. The region is expected to continue its dominance over the forecast period owing to increasing installation of micro solar inverters in countries, such as China and Japan. In addition, favorable government policies and rising awareness about renewable energy are anticipated to drive industry growth over the next eight years.
The European regional market also held a significant share in global revenue generation due to growing investments by companies operating within this region. For instance, SMA Solar Technology AG announced that it has signed a contract with RHI AG for sale of 60 MWp micro-solar installations throughout Europe from 2018 through 2023 (excluding 2019). Such contracts are further expected to boost product demand across Europe during the forecast period.
North America is projected to witness steady growth over an eight-year period due date from 2018 through 2030 as several U.S.
Growth Factors:
- Increasing demand for micro solar inverters from the residential sector on account of growing awareness about the benefits of solar energy
- Favorable government policies and regulations supporting the adoption of solar energy systems, which is expected to spur demand for micro solar inverters in the coming years
- Rapid technological advancements that have led to development of more efficient and compact micro solar inverters
- Rising concerns over climate change and air pollution, which is driving investments in renewable energy sources such as solar power
- Growing popularity of distributed generation (DG) systems, especially among commercial and industrial establishments
Scope Of The Report
Report Attributes
Report Details
Report Title
Micro Solar Inverter Market Research Report
By Type
Single-Phase Inverter, Three-Phase Inverter, Multiphase Inverter
By Application
Residential, Commercial, Utility
By Companies
ABB, SMA Solar Technology, Canadian Solar, SolarEdge Technologies, SunPower, Delta Electronics, Solectria Renewables, Sineng Electric, Hitachi Hi-Rel Power Electronics, Power electronics, ABB, `
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
217
Number of Tables & Figures
152
Customization Available
Yes, the report can be customized as per your need.
Global Micro Solar Inverter Market Report Segments:
The global Micro Solar Inverter market is segmented on the basis of:
Types
Single-Phase Inverter, Three-Phase Inverter, Multiphase Inverter
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Residential, Commercial, Utility
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB
- SMA Solar Technology
- Canadian Solar
- SolarEdge Technologies
- SunPower
- Delta Electronics
- Solectria Renewables
- Sineng Electric
- Hitachi Hi-Rel Power Electronics
- Power electronics
- ABB
- `
Highlights of The Micro Solar Inverter Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Single-Phase Inverter
- Three-Phase Inverter
- Multiphase Inverter
- By Application:
- Residential
- Commercial
- Utility
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Micro Solar Inverter Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A micro solar inverter is a small, lightweight device that helps convert sunlight into electricity. It can be used to power small devices such as calculators and radios, or to charge batteries.
Some of the major players in the micro solar inverter market are ABB, SMA Solar Technology, Canadian Solar, SolarEdge Technologies, SunPower, Delta Electronics, Solectria Renewables, Sineng Electric, Hitachi Hi-Rel Power Electronics, Power electronics, ABB, `.
The micro solar inverter market is expected to register a CAGR of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Micro Solar Inverter Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Micro Solar Inverter Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Micro Solar Inverter Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Micro Solar Inverter Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Micro Solar Inverter Market Size & Forecast, 2020-2028
4.5.1 Micro Solar Inverter Market Size and Y-o-Y Growth
4.5.2 Micro Solar Inverter Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Single-Phase Inverter
5.2.2 Three-Phase Inverter
5.2.3 Multiphase Inverter
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Residential
6.2.2 Commercial
6.2.3 Utility
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Micro Solar Inverter Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Micro Solar Inverter Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Single-Phase Inverter
9.6.2 Three-Phase Inverter
9.6.3 Multiphase Inverter
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Residential
9.10.2 Commercial
9.10.3 Utility
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Single-Phase Inverter
10.6.2 Three-Phase Inverter
10.6.3 Multiphase Inverter
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Residential
10.10.2 Commercial
10.10.3 Utility
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Single-Phase Inverter
11.6.2 Three-Phase Inverter
11.6.3 Multiphase Inverter
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Residential
11.10.2 Commercial
11.10.3 Utility
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Single-Phase Inverter
12.6.2 Three-Phase Inverter
12.6.3 Multiphase Inverter
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Residential
12.10.2 Commercial
12.10.3 Utility
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Single-Phase Inverter
13.6.2 Three-Phase Inverter
13.6.3 Multiphase Inverter
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Residential
13.10.2 Commercial
13.10.3 Utility
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Micro Solar Inverter Market: Competitive Dashboard
14.2 Global Micro Solar Inverter Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 SMA Solar Technology
14.3.3 Canadian Solar
14.3.4 SolarEdge Technologies
14.3.5 SunPower
14.3.6 Delta Electronics
14.3.7 Solectria Renewables
14.3.8 Sineng Electric
14.3.9 Hitachi Hi-Rel Power Electronics
14.3.10 Power electronics
14.3.11 ABB
14.3.12 `
