Market Overview:
The global solar micro inverter market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for solar energy across the globe and the rising awareness about the benefits of using solar micro inverters. The global solar micro inverter market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into stand-alone and integrated systems. Stand-alone systems are those that do not require any other system or component for their operation, while integrated systems are those that require another system or component for their proper functioning. On the basis of application, it can be classified into residential (0-20Kw), commercial (20Kw-1Mw), and utility (1Mw and above) segments. Regionally, it can be segmented into North America, Latin America, Europe Asia Pacific ,and Middle East & Africa .
Product Definition:
A solar micro inverter is a device that converts direct current (DC) from a single solar panel into alternating current (AC). Solar micro inverters are important because they improve the efficiency of a solar system by allowing each panel to operate independently. This improves performance in shaded or compromised situations and allows for monitoring of every panel individually.
Stand-Alone:
Stand-alone systems are independent power generating units, which can be used to produce electricity. They are portable and can be easily transported from one place to another. Stand-alone systems do not require any other power source for operation; they function efficiently even if there is no grid connection. These systems have a capacity of less than 10 KW and are ideal for off-grid applications where the main power source is unavailable or cannot supply sufficient energy during peak hours.
Integrated:
An integrated circuit (IC) is a set of electronic components mounted on a single small chip. It contains millions of miniature transistors, capacitors and diodes that work together as a unit to perform certain functions. The solar micro inverter market is witnessing an increasing adoption rate owing to the growing demand for clean energy sources across the globe coupled with technological advancements in this sector.
Application Insights:
The utility segment dominated the global solar micro inverter market in terms of revenue in 2017. This is attributed to the growing need for large-scale power generation across countries, such as China, India and Japan. Countries like Saudi Arabia are also planning to develop their solar energy sector by 2030 with the help of financial aid from China and Japan.
The residential segment is expected to witness significant growth over the forecast period owing to increasing government support for installing rooftop systems across various countries including Germany, Italy and Spain. In addition, favorable government policies such as Feed-in Tariffs (FiT) supported by governments around the world are further driving demand for residential installations which will eventually drive industry growth over next few years.
Regional Analysis:
Asia Pacific regional market accounted for the largest share of global revenue in 2017. The region is expected to maintain its lead over the forecast period owing to increasing investments in renewable energy and favorable government policies across countries, such as China and India. In addition, rising electricity demand-supply gap due to rapid industrialization will drive solar PV inverter sales in this region.
The European regional market also held a significant share of global revenue in 2017 owing to growing installations of solar panels across countries such as Germany, Italy, Spain and France on account of declining prices per kilowatt hour generated by these systems over past few years along with subsidies from national governments aimed at reducing carbon footprint associated with conventional power generation sources.
Growth Factors:
- Increasing demand for solar energy: The global demand for solar energy is increasing rapidly due to the growing awareness of the benefits of renewable energy sources and concerns about climate change. This is driving the growth of the solar micro inverter market.
- Declining prices of solar panels: The prices of solar panels are declining due to advancements in technology and increased production capacity. This is making it more affordable for consumers to install solar systems, which is driving the growth of the Solar Micro Inverter market.
- Government incentives and subsidies: Governments around the world are providing incentives and subsidies for installing rooftop photovoltaic (PV) systems, which is promoting wider adoption of PV systems, including those that use Solar Micro Inverters.
Scope Of The Report
Report Attributes
Report Details
Report Title
Solar Micro Inverter Market Research Report
By Type
Stand-Alone, Integrated
By Application
Residential (0-20Kw), Commercial (20Kw-1Mw), Utility (1Mw and above)
By Companies
ABB, Enphase Energy, SMA Solar Technology, SolarEdge Technologies, SunPower Corp, APS, Chilicon Power, Cybo Energy, iEnergy, Involar, ABB, ReneSola, Sparq Systems
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
125
Number of Tables & Figures
88
Customization Available
Yes, the report can be customized as per your need.
Global Solar Micro Inverter Market Report Segments:
The global Solar Micro Inverter market is segmented on the basis of:
Types
Stand-Alone, Integrated
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 (0-20Kw), Commercial (20Kw-1Mw), Utility (1Mw and above)
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
- Enphase Energy
- SMA Solar Technology
- SolarEdge Technologies
- SunPower Corp
- APS
- Chilicon Power
- Cybo Energy
- iEnergy
- Involar
- ABB
- ReneSola
- Sparq Systems
Highlights of The Solar Micro 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:
- Stand-Alone
- Integrated
- By Application:
- Residential (0-20Kw)
- Commercial (20Kw-1Mw)
- Utility (1Mw and above)
- 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 Solar Micro 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
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- 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 solar micro inverter is a small, lightweight device that helps convert the direct current (DC) from solar panels into alternating current (AC). This allows the electricity generated by the sun to be used in homes and businesses. Solar micro inverters are also known as power optimizers or power converters.
Some of the major players in the solar micro inverter market are ABB, Enphase Energy, SMA Solar Technology, SolarEdge Technologies, SunPower Corp, APS, Chilicon Power, Cybo Energy, iEnergy, Involar, ABB, ReneSola, Sparq Systems.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Solar Micro 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 Solar Micro Inverter Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Solar Micro 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 Solar Micro 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 Solar Micro Inverter Market Size & Forecast, 2020-2028
4.5.1 Solar Micro Inverter Market Size and Y-o-Y Growth
4.5.2 Solar Micro 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 Stand-Alone
5.2.2 Integrated
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 (0-20Kw)
6.2.2 Commercial (20Kw-1Mw)
6.2.3 Utility (1Mw and above)
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Solar Micro 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 Solar Micro 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 Stand-Alone
9.6.2 Integrated
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 (0-20Kw)
9.10.2 Commercial (20Kw-1Mw)
9.10.3 Utility (1Mw and above)
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 Stand-Alone
10.6.2 Integrated
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 (0-20Kw)
10.10.2 Commercial (20Kw-1Mw)
10.10.3 Utility (1Mw and above)
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 Stand-Alone
11.6.2 Integrated
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 (0-20Kw)
11.10.2 Commercial (20Kw-1Mw)
11.10.3 Utility (1Mw and above)
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 Stand-Alone
12.6.2 Integrated
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 (0-20Kw)
12.10.2 Commercial (20Kw-1Mw)
12.10.3 Utility (1Mw and above)
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 Stand-Alone
13.6.2 Integrated
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 (0-20Kw)
13.10.2 Commercial (20Kw-1Mw)
13.10.3 Utility (1Mw and above)
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 Solar Micro Inverter Market: Competitive Dashboard
14.2 Global Solar Micro Inverter Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 Enphase Energy
14.3.3 SMA Solar Technology
14.3.4 SolarEdge Technologies
14.3.5 SunPower Corp
14.3.6 APS
14.3.7 Chilicon Power
14.3.8 Cybo Energy
14.3.9 iEnergy
14.3.10 Involar
14.3.11 ABB
14.3.12 ReneSola
14.3.13 Sparq Systems
