Report Description

Global Solar Micro Inverters Market By Connectivity (Standalone and On-grid), By Application (Utility, Residential and Commercial), By Region, By Company, Competition, Forecast & Opportunities, 2024

  • Publish Date: NA
  • Format : PDF
  • Pages : 110
  • Industry : Power

Global Solar Micro Inverters Market Overview

Global solar micro inverters market is anticipated to grow at a CAGR of over 12% until 2024, owing to the persistent advances in R&D of solar micro inverters and substantial reduction in costs of micro inverters. A solar micro-inverter, or simply microinverter, is a plug-and-play device used in photovoltaics, that converts direct current (DC) generated by a single solar module to alternating current (AC).

With the micro inverter prices being dropped and rising awareness towards the advantages of module-level power electronics (MLPE) technology, the market for solar micro inverters is picking up footing across different end users. Moreover, the high modularity and compact size of solar micro inverters make them ideal for residential applications, which is a major reason behind the solar micro inverters currently gaining an impetus at a global level. Also, the drop in the prices of micro inverters alongside different initiatives introduced by the government have brought about higher adoption of PV installations all around the world, which is anticipated to push the demand for solar micro inverters amid the forecast period.

Global Solar Micro Inverters Market Segment Insights

In terms of application, the solar micro inverters market is categorized into utility, residential and commercial. The residential sector accounted for majority of the global market in 2018 and it is also projected to witness a healthy growth rate during the forecast period. The growth of the residential sector is majorly attributable to the increasing adoption of energy conservation measures for controlling the increased energy expenditure in residential applications. Also, the commercial sector is expected to account for a significant portion of the global market for solar inverters during the forecast period.

Global Solar Micro Inverters Market Regional Insights

Regionally, the North American solar micro inverters market accounted for a significant share of the global market in 2018, owing to the growing demand for power and the rising installation of solar energy systems. Among the North American countries, the market for solar micro inverters was the largest in the U.S. in 2018 and it is predicted to maintain its dominance in the North American solar micro inverters market during the forecast period as well. Furthermore, the solar micro inverters market is expected to gain traction in Asia Pacific region, especially in countries like India and Australia. The growth of the solar micro inverters market in the Asia-Pacific region is majorly due to the burgeoning demand for power supply, favourable government policies and soaring fuel prices. Among the countries in the Asia-Pacific region, the Indian market for solar invertors captures a prominent position. Rising awareness about the advantages of micro inverters and widespread adoption of sustainable sources of energy for agriculture are anticipated to fuel the solar micro inverters demand all around India.

Global Solar Micro Inverters Market Competitive Landscape

The global solar micro inverters market is dominated by major players along with the presence of small-scale manufacturers. Few of the major companies operating in the market for solar micro inverters are SolarEdge Technologies Inc, KACO new energy GmbH, Delta Energy Systems GmbH, SunPower Corporation among others.

Years considered for this report:

Historical Years: 2014-2017

Base Year: 2018

Estimated Year: 2019

Forecast Period: 2020–2024

Objective of the Study:

  • To analyze and forecast the market size of global solar micro inverters market in terms of value and volume
  • To forecast global solar micro inverters market based on connectivity, application and regional distribution
  • To identify drivers and challenges for global solar micro inverters market
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions etc. in global solar micro inverters market
  • To conduct the pricing analysis for global solar micro inverters market
  • To identify and analyze the profile of leading players operating in the global solar micro inverters market

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Some of the leading players in the global solar micro inverters market are SolarEdge Technologies Inc, KACO new energy GmbH, Delta Energy Systems GmbH, SunPower Corporation, Altenergy Power System Inc, Ampt LLC, Alencon Systems LLC, Petra Systems Inc., Tigo Energy Inc., Chilicon Power LLC etc.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service offerings, distribution channels and presence of all major manufacturers across the globe.

TechSci Research calculated the market size of global Solar Micro Inverters market using a top down approach, where data for various application across various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

  • Solar micro inverter manufacturers
  • Solar micro inverters end-user industries
  • Government bodies such as regulating authorities and policy makers
  • Organizations, forums and alliances related to solar micro inverters market
  • Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturer and partners, end users etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, global Solar Micro Inverters market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Market, By Connectivity
    • Standalone
    • On-grid
  • Market, By Application
    • Utility
    • Residential
    • Commercial
  • Market, By Region:
    • Asia Pacific
      • China
      • India 
      • Japan
      • South Korea
      • Australia
      • Thailand
      • Malaysia
    • Europe
      • France
      • Germany
      • United Kingdom
      • Italy
      • Spain
    • North America
      • United States
      • Mexico
      • Canada
    • South America
      • Brazil
      • Argentina
      • Chile
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE
      • Qatar

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global Solar Micro Inverters market.

Available Customizations:

With the given market data, TechSci Research offers customizations according the company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Profit Margin Analysis

  • Profit margin analysis in case of direct and indirect sales channel.

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