Micro Inverter Market by Type (Single Phase and Three Phase), Connection (Stand-Alone and Grid-Connected) and End User (Residential and Commercial) - Global Opportunity Analysis and Industry Forecasts, 2014-2022

  • ID: 3976205
  • Report
  • Region: Global
  • 125 pages
  • Allied Analytics LLP
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FEATURED COMPANIES

  • ABB Group
  • Delta Energy Systems GmbH
  • Enphase Energy
  • Involar
  • ReneSola
  • Siemens AG
  • MORE
Micro inverter is an electronic device used in photovoltaic to transform direct current (DC) from solar modules into alternating current (AC). These inverters are normally installed on each solar panel separately, to convert the DC power into AC power at the source itself. Additionally, micro inverters are easy to install and have simpler operations compared to string inverters and central inverters. It also does optimal power production by performing maximum power point tracking for its connected module. Moreover, it offers several benefits over traditional inverters such as greater reliability, higher production, and improved safety.

At present, the world micro-inverter market is driven by its high reliability and efficient performance. As in micro inverter technology each inverter operates independently; thus, one sheltered or infected panel does not affect the entire system. Moreover, micro-inverters offer higher safety as compared to conventional inverter technologies. However, high installation cost is one of the key restraints to the market growth. Technological advancements in the field of solar cells to increase efficiency and rise in government spending in renewable energy projects are expected to provide growth opportunities for the market.

The market is segmented on the basis of type, connection, end user, and geography. The type segment is segmented into single- and three-phase micro-invertor. The connection segment is classified into stand-alone and grid-connected. On the basis of end user, it is classified into residential and commercial. Based on geography, it is analyzed across North America (U.S., Mexico, and Canada), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

Major companies profiled in the report include Enphase Energy Inc., ABB Group, SunPower Corporation, SMA Solar Technology AG, Delta Energy Systems GmbH, SolarEdge Technologies, Inc., ReneSola, Siemens AG, P&P Energy Technology Co., Ltd. and Involar.

POTENTIAL BENEFITS FOR STAKEHOLDERS

Comprehensive analysis of the current trends and future estimations in the world micro inverter market is provided
The report provides a competitive scenario of the market with growth trends, structure, driving factors, scope, opportunities, and challenges
The report includes a comprehensive analysis of key segments to provide insights on the market dynamics
Porter’s Five Forces analysis highlights the potential of buyers and suppliers as well as provides insights on the competitive structure of the market to devise effective growth strategies and facilitate better decision-making
Value chain analysis provides key inputs on the role of stakeholders involved at various stages

MARKET SEGMENTATION

The world micro inverter market is segmented on the basis of type, connection, end user, and geography.

BY TYPE

Single Phase
Three Phase

BY CONNECTION

Standalone
Grid-Connected

BY END USER

Residential
Commercial

BY GEOGRAPHY

North America
U.S.
Mexico
Canada
Europe
UK
Germany
France
Rest of the Europe
Asia-Pacific
China
Japan
India
Rest of Asia Pacific
LAMEA
Latin America
Middle East
Africa
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • ABB Group
  • Delta Energy Systems GmbH
  • Enphase Energy
  • Involar
  • ReneSola
  • Siemens AG
  • MORE
CHAPTER 1 INTRODUCTION

1.1 Report Description
1.2 Key Benefits
1.3 Key Market Segments
1.4 Research Methodology

1.4.1 Secondary Research
1.4.2 Primary Research
1.4.3 Analyst Tools and Models

CHAPTER 2 EXECUTIVE SUMMARY

2.1 CXO Perspective

CHAPTER 3 MARKET OVERVIEW

3.1 Market Definition and Scope
3.2 Key Findings

3.2.1 Top Impacting Factors
3.2.2 Top Investment Pockets
3.2.3 Top Winning Strategies

3.3 Porters Five Forces Analysis

3.3.1 Bargaining Power of Suppliers
3.3.2 Bargaining Power of Buyers
3.3.3 Threat of Substitution
3.3.4 Threat of New Entrants
3.3.5 Competitive Rivalry

3.4 Market Share Analysis, 2015 (%)
3.5 World Micro Inverter Market: Value Chain Analysis
3.6 Market Dynamics

3.6.1 Drivers

3.6.1.1 Higher output and cost-efficiency
3.6.1.2 Increased reliability and safety
3.6.1.3 Rising residential solar system installation

3.6.2 Restraints

3.6.2.1 High installation cost
3.6.2.2 Tough maintenance

3.6.3 Opportunities

3.6.3.1 Rising government incentives

CHAPTER 4 WORLD MICRO INVERTER MARKET, BY TYPE

4.1 Single Phase

4.1.1 Key Market Trends
4.1.2 Key Drivers and Opportunities
4.1.3 Market Size and Forecast

4.2 Three Phase

4.2.1 Key Market Trends
4.2.2 Key Drivers and Opportunities
4.2.3 Market Size and Forecast

CHAPTER 5 WORLD MICRO INVERTER MARKET, BY CONNECTION

5.1 Stand-Alone

5.1.1 Key Market Trends
5.1.2 Key Drivers and Opportunities
5.1.3 Market Size and Forecast

5.2 Grid-Connected

5.2.1 Key Market Trends
5.2.2 Key Drivers and Opportunities
5.2.3 Market Size and Forecast

CHAPTER 6 WORLD MICRO INVERTER MARKET, BY END-USER

6.1 Residential

6.1.1 Key Market Trends
6.1.2 Key Drivers and Opportunities
6.1.3 Market Size and Forecast

6.2 Commercial

6.2.1 Key Market Trends
6.2.2 Key Drivers and Opportunities
6.2.3 Market Size and Forecast

CHAPTER 7 WORLD MICRO INVERTER MARKET, BY GEOGRAPHY

7.1 North America

7.1.1 Key Market Trends
7.1.2 Key Drivers and Opportunities
7.1.3 Market Size and Forecast
7.1.4 U.S.
7.1.5 Mexico
7.1.6 Canada

7.2 Europe

7.2.1 Key Market Trends
7.2.2 Key Drivers and Opportunities
7.2.3 Market Size and Forecast
7.2.4 U.K.
7.2.5 Germany
7.2.6 France
7.2.7 Rest of Europe

7.3 Asia-Pacific

7.3.1 Key Market Trends
7.3.2 Key Drivers and Opportunities
7.3.3 Market Size and Forecast
7.3.4 China
7.3.5 Japan
7.3.6 India
7.3.7 Australia
7.3.8 Rest of Asia-Pacific

7.4 LAMEA

7.4.1 Key Market Trends
7.4.2 Key Drivers and Opportunities
7.4.3 Market Size and Forecast
7.4.4 Latin America
7.4.5 Middle East
7.4.6 Africa

CHAPTER 8 COMPANY PROFILES

8.1 Enphase Energy, Inc.

8.1.1 Company Overview
8.1.2 Company Snapshot
8.1.3 Business Performance
8.1.4 Key Strategic Moves and Developments

8.2 ABB Group

8.2.1 Company Overview
8.2.2 Company Snapshot
8.2.3 Operating Business Segments
8.2.4 Business Performance
8.2.5 Key Strategic Moves and Developments

8.3 SunPower Corporation

8.3.1 Company Overview
8.3.2 Company Snapshot
8.3.3 Operating Business Segments
8.3.4 Business Performance
8.3.5 Strategic Moves and Developments

8.4 SMA Solar Technology AG

8.4.1 Company Overview
8.4.2 Company Snapshot
8.4.3 Operating Business Segments
8.4.4 Business Performance
8.4.5 Key Strategic Moves and Developments

8.5 Delta Energy Systems GmbH

8.5.1 Company Overview
8.5.2 Operating Business Segments
8.5.3 Business Performance
8.5.4 Key Strategic Moves and Developments

8.6 SolarEdge Technologies Inc.

8.6.1 Company Overview
8.6.2 Company Snapshot
8.6.3 Business Performance
8.6.4 Key Strategic Moves and Developments

8.7 ReneSola

8.7.1 Company Overview
8.7.2 Company Snapshot
8.7.3 Operating Business Segments
8.7.4 Business Performance
8.7.5 Strategic Moves and Developments

8.8 Siemens AG

8.8.1 Company Overview
8.8.2 Company Snapshot
8.8.3 Operating Business Segments
8.8.4 Business Performance
8.8.5 Strategic Moves and Developments

8.9 P&P Energy Technology Co., Limited

8.9.1 Company Overview
8.9.2 Company Snapshot

8.10 Involar

8.10.1 Company Overview
8.10.2 Company Snapshot
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • ABB Group
  • Delta Energy Systems GmbH
  • Enphase Energy
  • Involar
  • ReneSola
  • Siemens AG
  • MORE
Global Micro Inverter Market would reach $2.7 billion by 2022. In 2014, North America dominated the market and contributed about 45% share of the overall market revenue, followed by Europe, according to a new report .The presence of key market players in the U.S. and rising micro inverter installation activities, primarily in residential sector, have fueled the market growth.

Swift rise in demand for greater efficiency of solar energy systems and increased application of micro inverters in residential sector, as it is more cost-effective and space efficient, as compared to central and string inverters drives the market growth. However, high initial investment and tough maintenance could restrict the market growth. Moreover, it is anticipated that the rise in electricity demand coupled with increase in government spending & tariffs on photovoltaic technology would spur the global market growth.

The residential segment accounted for about 77% of the overall micro inverter market in 2014. Highest installation of micro inverters in residential photovoltaic systems led this segment to dominate the overall micro inverter market. However, commercial end user segment would grow significantly and is expected to register a CAGR of 30.3% during the forecast period. This is due to the increase in installation of micro inverters in commercial PV systems worldwide as many renowned companies are launching advanced technology products. Moreover, North America has contributed significantly in the residential sector.

Among various geographical regions, North America has contributed the maximum revenue share in 2014 and is expected to maintain its leading position throughout the forecast period. This could be attributed to varied factors including increase in the electricity demand due to rising population, and increased government initiatives. Moreover, improvement in renewable energy expenditure has boosted the installation of residential micro inverters in Asian countries, particularly in China, Japan, and India.

MLPE technologies such as micro inverters are swiftly gaining acceptance and market share as their costs have come down. In spite of the global dominance of string inverters, over half of all residential solar systems installed in the U.S. currently using micro inverters. In addition, increased power output of micro inverters, cost-effectiveness and enhanced safety features would fuel the micro inverter market growth in both residential and commercial sector globally. Japan, representing a significant residential market potential, is expected to provide lucrative growth opportunities for top global micro inverter manufacturers in Asia-Pacific market, states Rakesh Singh, Manager, Research, Semiconductor & Electronics at AMR.

However, Asia-Pacific is projected to be the fastest growing region throughout the analysis period. Since, Japan has the highest demand for residential sector power plant PV installation due to government incentives and limited supply of micro inverters in Japan. Moreover, enhancement in solar plant installation capacity and increase in expenditures in the emerging markets (such as China and India) to satisfy the exponentially growing electricity needs in these countries have strengthened the market growth. Technological advancements for cost-effective inverter technologies in these nations offer a lucrative opportunity for the micro inverter market growth.

Micro Inverter Market Key findings of the study:

In 2014, single phase micro inverter type led the overall micro inverter market revenue, but it is projected to grow at a CAGR of 26.2% during the forecast period
Residential segment is expected to exhibit rapid growth, owing to the rising government tariffs and incentives
Presently, North America leads the world micro inverter market and it is expected to continue this trend throughout the forecast period owing to the swift rise in electricity demand from countries such as U.S., Canada, and Mexico
Japan leads the overall Asia-Pacific micro inverter market with about one-third of the market shares in the region

The key players in the micro inverter market are dedicated to expand their business operations in the emerging countries with acquisition and product launch as a preferred strategy. The major players profiled in this report include Enphase Energy, Inc., ABB Group, SunPower Corporation, SMA Solar Technology AG, Delta Energy Systems GmbH, SolarEdge Technologies, Inc., ReneSola, Siemens AG, P&P Energy Technology Co., Ltd., and Involar.
Note: Product cover images may vary from those shown
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  • Enphase Energy
  • ABB Group
  • SunPower Corporation
  • SMA Solar Technology AG
  • Delta Energy Systems GmbH
  • SolarEdge Technologies Inc
  • ReneSola
  • Siemens AG
  • P&P Energy Technology Co Ltd
  • Involar
Note: Product cover images may vary from those shown
6 of 5
Note: Product cover images may vary from those shown
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