Solar Micro Inverter Market Overview
The Solar Micro Inverter market is expected to rise due to rising demand for building-integrated photovoltaics over the forecast period. Furthermore, governments around the world promoting solar technology adoption are expected to drive market growth in the next years. Increased investments in renewable energy are also expected to boost market growth.
Solar micro-inverters have various advantages over the typical string inverter, contributing in the rapid expansion of the market throughout predicted period. Series-connected string solar panel system produces high DC voltage which can induce high temperature arcing and fire, this threat is decreased greatly by micro-inverters. Furthermore, high-voltage DC necessitates expensive protection switches and fuses, which has rendered AC obsolete (micro-inverter). Furthermore, the output of string connected solar panels is harmed when one solar panel is damaged or shaded.
Solar micro-inverters separate each solar panel's output, monitoring and keeping each panel's unique features for optimal performance. Furthermore, traditional inverters can only add a certain number of solar panels; however, solar panels with micro-inverters can easily be added. Over the forecast period, numerous advantages over traditional technologies are expected to drive market expansion
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | Type, Components, Application, and Region. |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | Enphase Energy, Inc., ABB, Huawei Technologies Co., Ltd., Sungrow Power Supply Co., Ltd., Solar Technology AG, Siemens Industry, Inc., General Electric, Schneider Electric, Sineng, and TMEIC among others. |
Covid-19 Impact on Solar Micro Inverter Market
Like many other industries, COVID-19 badly knocked the electronic and semiconductor industries. This unprecedented event has impacted nearly 230 countries in just a few weeks, resulting in the forced shutdown of manufacturing and transportation activities within and across the countries. This has directly affected the overall sector's growth. It is estimated that COVID-19 to leave more than USD 30 billion impacts on the electronics and semiconductor industry. The sector is majorly affected due to transport restrictions on major electronics and semiconductor raw material providers. However, the emerging need for semiconductors in several industries will offer rapid market recovery over the future period.
Solar Micro Inverter Market Segment Overview
Based on the application, the Residential segment is anticipated to experience the fastest CAGR over the forecast period. This can be attributed to the demographic's high per capita income in industrialised countries such as North America and Europe. Furthermore, governments' supporting legislative framework and financial incentives are projected to boost this segment's expansion in the approaching years. Furthermore, the shift toward a greener economy, as well as increased knowledge of the negative consequences of traditional energy sources, are anticipated to promote future citizens' acceptance of this category.
Solar Micro Inverter Market, By Type
· Single Phase
· Three Phase
Solar Micro Inverter Market, By Components
· Hardware
· Software
Solar Micro Inverter Market, By Application
· Residential
· Commercial
· Utility
Solar Micro Inverter Regional Overview
In terms of geography, the global Solar Micro Inverter market is classified into North America, South America, Europe, Asia Pacific and Middle East & Africa. The Asia-Pacific region is predicted to grow rapidly, resulting in the highest CAGR throughout the forecast period. Because of the significant development in ground-mounted, building-integrated, and floating solar PV installations from 2015 to 2018, China is anticipated to lead the regional market. Furthermore, government support in the form of feed-in tariffs, tenders, and other financial incentives is expected to propel market expansion during the projection period. Over the projection period, Australia, Japan, and India are also expected to have high CAGRs.
Solar Micro Inverter Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Solar Micro Inverter Market Competitor overview
Some key developments and strategies adopted by manufacturers in Solar Micro Inverter are highlighted below.
· In January 2022, Chinese micro-inverter maker Hoymiles Power Electronics Inc. has unveiled a new product for high-power modules. “The HMS-2000 micro-inverter is being produced at factory in Hangzhou,”.
Solar Micro Inverter Market, Key Players
· Enphase Energy, Inc.
· ABB
· Huawei Technologies Co., Ltd.
· Sungrow Power Supply Co., Ltd.
· Solar Technology AG
· Siemens Industry, Inc.
· General Electric
· Schneider Electric
· Sineng
· TMEIC
· Others
Frequently Asked Questions (FAQ) :
Q1. What are the driving factors for the global Solar Micro Inverter market?
The Solar Micro Inverter market is expected to rise due to rising demand for building-integrated photovoltaics over the forecast period
Q2. Which Segments are covered in the global Solar Micro Inverter market report?
Type, Components, Application, and Region. these segments are covered in the global Solar Micro Inverter market report.
Q3. Which segment is projected to hold the largest share in the global Solar Micro Inverter market?
Residential segment is projected to hold the largest share in the global Solar Micro Inverter market.
Q4. Which region holds the largest share in the global Solar Micro Inverter market?
Asia Pacific holds the largest share in the global Solar Micro Inverter market.
Q5. Which are the prominent players in the global Solar Micro Inverter market?
Enphase Energy, Inc., ABB, Huawei Technologies Co., Ltd., Sungrow Power Supply Co., Ltd., Solar Technology AG, Siemens Industry, Inc., General Electric, Schneider Electric, Sineng, and TMEIC among others. are some key players in the global Solar Micro Inverter market.
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Solar Micro Inverter Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Type
- 5.2.1. Single Phase
- 5.2.2. Three Phase
- 5.3. Market Analysis, Insights and Forecast – By Components
- 5.3.1. Hardware
- 5.3.2. Software
- 5.4. Market Analysis, Insights and Forecast – By Application
- 5.4.1. Residential
- 5.4.2. Commercial
- 5.4.3. Utility
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America, Middle East and Africa
6. North America Solar Micro Inverter Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Type
- 6.2.1. Single Phase
- 6.2.2. Three Phase
- 6.3. Market Analysis, Insights and Forecast – By Components
- 6.3.1. Hardware
- 6.3.2. Software
- 6.4. Market Analysis, Insights and Forecast – By Application
- 6.4.1. Residential
- 6.4.2. Commercial
- 6.4.3. Utility
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Europe Solar Micro Inverter Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Type
- 7.2.1. Single Phase
- 7.2.2. Three Phase
- 7.3. Market Analysis, Insights and Forecast – By Components
- 7.3.1. Hardware
- 7.3.2. Software
- 7.4. Market Analysis, Insights and Forecast – By Application
- 7.4.1. Residential
- 7.4.2. Commercial
- 7.4.3. Utility
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Rest of Europe
8. Asia Pacific Solar Micro Inverter Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Type
- 8.2.1. Single Phase
- 8.2.2. Three Phase
- 8.3. Market Analysis, Insights and Forecast – By Components
- 8.3.1. Hardware
- 8.3.2. Software
- 8.4. Market Analysis, Insights and Forecast – By Application
- 8.4.1. Residential
- 8.4.2. Commercial
- 8.4.3. Utility
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. South East Asia
- 8.5.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Solar Micro Inverter Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Type
- 9.2.1. Single Phase
- 9.2.2. Three Phase
- 9.3. Market Analysis, Insights and Forecast – By Components
- 9.3.1. Hardware
- 9.3.2. Software
- 9.4. Market Analysis, Insights and Forecast – By Application
- 9.4.1. Residential
- 9.4.2. Commercial
- 9.4.3. Utility
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. Brazil
- 9.5.2. Saudi Arabia
- 9.5.3. UAE
- 9.5.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Enphase Energy, Inc.
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. ABB
- 10.6. Huawei Technologies Co., Ltd.
- 10.7. Sungrow Power Supply Co., Ltd.
- 10.8. Solar Technology AG
- 10.9. Siemens Industry, Inc.
- 10.10. General Electric
- 10.11. Schneider Electric
- 10.12. Sineng
- 10.13. TMEIC
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
