Global Solar Micro Inverters Market Size, Share, Development, Growth and Demand Forecast to 2026

  • ID: 4340247
  • Report
  • Region: Global
  • 92 pages
  • P&S Market Research
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Market Overview

Solar Micro Inverters refer to devices that convert direct current (DC) to alternating current (AC) used in all electrical devices. Micro Inverters allow power conversion at individual module or panel level, also known as panel-level conversion. As a result, the performance of solar PV cells is not jeopardized when one or more panels are shaded. Micro inverters monitor the performance of each solar panel individually while string inverters also exhibits the performance of each string.

Growing awareness towards the use of renewable energy sources across the world have led to the large-scale adoption of solar photovoltaic (PV) installations. This is expected to escalate the demand for solar micro inverters during the forecast period. Additionally, the enhancement in the solar power capacity and the growing electricity needs in these countries have further strengthened the market growth in the residential sector.

Solar micro inverters are used in utilities, and residential and commercial sectors. The increasing government incentives and improved renewable energy expenditure has led to increase in demand for micro inverters in residential PV installations in the U.S., Japan, China and India.

Market Dynamics

The global solar micro inverters market is expected to witness a CAGR of 15.3% during the forecast period, to reach $1,968.7 million by 2026. The increasing awareness towards the benefits of energy storage devices and enhanced regulatory structures have increased their penetration in the global market. Based on system type, the stand-alone segment is expected to be the largest segment of the global solar micro inverters market during the forecast period. The residential segment was the largest market for solar micro inverters during 2012 - 2015. The segment is estimated to be the largest market during the forecast period.

Trends

The key trend observed in the solar micro inverters market is the growing focus towards integrated module systems, also known as AC modules. In the recent years, companies such as Enphase Energy, Inc., Solar World, Northern Electric and Power (NEP) and ETSolar Group (ET Solar) have been increasingly focusing on developing innovative and high performance integrated module systems, also known as AC modules, to meet the increasing electricity demands of customers in the global market.

Growth Drivers

The factors driving the growth of solar micro inverters market are increasing consumer preference towards greater efficiency of solar power systems, rising electricity demand, increasing government investments and tariffs on photovoltaic technology and growing applications in the residential sector. Growing awareness towards the level of solar power systems have led to other regional markets focusing on implementing regulations such as National Electric Code (NEC). Additionally, the drop in micro inverter prices along with various government initiatives have resulted in higher adoption of PV installations across the globe. Such trends are expected to propel the demand for micro inverters during the forecast period.

Growth Restraints

Higher capital expenditure and significant rise in power optimizers are the major factors that are expected to hamper the growth of global solar micro inverters market. Microinverters replace large parts of a central inverter, which makes them costlier as compared to other traditional inverters. Additionally, the installation of micro inverters requires the installation of a communication bus, which would further add up to the final costs.

Moreover, similar usage of power optimizers and micro inverters could pose a threat to the growth in the solar micro inverters market during the forecast period. The application of power optimizers as an alternative to micro inverters is expected to have adverse ripple effects on the 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. Some of the key players in the global market include Enphase Energy Inc., SolarEdge Technologies, Inc., ABB Ltd, SMA Solar Technology AG, SunPower Corporation, Altenergy Power System Inc., Darfon Electronics Corp., Northern Electric & Power Co. Ltd, Sparq Systems, Inc. and Chilicon Power, LLC.

Scope for Customization

Customization is offered as per specific business requirements of clients. Illustrative customization within the scope of this report includes:
  • Period of Analysis - Increase in the study period, including historic and forecast years
  • Geographical Analysis - Increase in country coverage
  • Segment Analysis - More granular coverage related to:
  • Project level information for each segment that corresponds to capacity utilization and contracts
  • Company Profiles - Wider company coverage in terms of detailed analysis or additional company profiles
  • New custom report - A completely customized report can be provided on the market, specific to a region/ country/ segment
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1. Research Scope And Methodology
1.1 Market Definition
1.2 Research Scope
1.2.1 Market Segmentation By System Type
1.2.2 Market Segmentation By End-Use
1.2.3 Market Segmentation By Region
1.3 Research Methodology And Sources

2. Executive Summary
2.1 Key Findings
2.2 Research Summary

3. Introduction
3.1 Introduction
3.2 Trends In The Solar Micro Inverters Market
3.2.1 Growing Focus Towards Integrated Module Systems
3.3 Opportunities In The Solar Micro Inverters Market
3.3.1 Regulatory Framework
3.3.2 Rising Affordability Of Energy Storage Devices
3.4 Factor Driving Growth Of The Market And Its Impact On Market Forecast
3.4.1 Drop In Micro Inverter Prices
3.4.2 Rising Awareness Towards The Benefits Of Mlpe Technology
3.4.3 Superiority Of Micro Inverters Over Conventional Systems
3.4.4 Impact Analysis Of Drivers On Market Forecast
3.5 Factor Hindering Growth Of The Market And Its Impact On Market Forecast
3.5.1 Higher Initial Costs
3.5.2 Significant Rise In Power Optimizers
3.5.3 Impact Analysis Of Restraints On Market Forecast

4. Global Solar Micro Inverters Market
4.1 Global Solar Micro Inverters Market, By System Type
4.1.1 Stand-Alone Solar Micro Inverters
4.1.2 Integrated Solar Micro Inverters
4.2 Global Solar Micro Inverters Market, By End-Use
4.2.1 Residential
4.2.2 Commercial
4.2.3 Utilities
4.3 Global Solar Micro Inverters Market, By Region

5. Global Solar Micro Inverters Market, By Geography
5.1 North America Solar Micro Inverters Market
5.1.1 North America Solar Micro Inverters Market, By System Type
5.1.2 North America Solar Micro Inverters Market, By End-Use
5.1.3 North America Solar Micro Inverters Market, By Country
5.2 Europe Solar Micro Inverters Market
5.2.1 Europe Solar Micro Inverters Market, By System Type
5.2.2 Europe Solar Micro Inverters Market, By End-Use
5.2.3 Europe Solar Micro Inverters Market, By Country
5.3 Asia-Pacific Solar Micro Inverters Market
5.3.1 Asia-Pacific Solar Micro Inverters Market, By System Type
5.3.2 Asia-Pacific Solar Micro Inverters Market, By End-Use
5.3.3 Asia-Pacific Solar Micro Inverters Market, By Country
5.4 Middle East And Africa Solar Micro Inverters Market
5.4.1 Middle East And Africa Solar Micro Inverters Market, By System Type
5.4.2 Middle East And Africa Solar Micro Inverters Market, By End-Use
5.4.3 Middle East And Africa Solar Micro Inverters Market, By Country
5.5 South America Solar Micro Inverters Market
5.5.1 South America Solar Micro Inverters Market, By System Type
5.5.2 South America Solar Micro Inverters Market, By End-Use
5.5.3 South America Solar Micro Inverters Market, By Country

6. Porters Analysis
6.1 Porter's Five Forces Of Competitive Position Analysis
6.1.1 Bargaining Power Of Buyers
6.1.2 Bargaining Power Of Suppliers
6.1.3 Threat Of New Entrants
6.1.4 Intensity Of Rivalry
6.1.5 Threat Of Substitutes
6.2 Competitive Positioning Of Global Solar Micro Inverters Market, By End-Use

7. Company Profiles And Strategic Developments
7.1 Key Company Profiles
7.1.1 Enphase Energy Inc.
7.1.1.1 Business Overview
7.1.1.2 Product And Service Offerings
7.1.2 Solaredge Technologies, Inc.
7.1.2.1 Business Overview
7.1.2.2 Product And Service Offerings
7.1.3 Abb Ltd
7.1.3.1 Business Overview
7.1.3.2 Product And Service Offerings
7.1.4 Sma Solar Technology Ag
7.1.4.1 Business Overview
7.1.4.2 Product And Service Offerings
7.1.5 Sunpower Corporation
7.1.5.1 Business Overview
7.1.5.2 Product And Service Offerings
7.1.6 Altenergy Power System Inc.
7.1.6.1 Business Overview
7.1.6.2 Product And Service Offerings
7.1.7 Darfon Electronics Corp.
7.1.7.1 Business Overview
7.1.7.2 Product And Service Offerings
7.1.8 Northern Electric And Power Co. Ltd
7.1.8.1 Business Overview
7.1.8.2 Product And Service Offerings
7.1.9 Sparq Systems, Inc.
7.1.9.1 Business Overview
7.1.9.2 Product And Service Offerings
7.1.10 Chilicon Power, Llc.
7.1.10.1 Business Overview
7.1.10.2 Product And Service Offerings
7.1.11 Cyboenergy, Inc.
7.1.11.1 Business Overview
7.1.11.2 Product And Service Offerings
7.2 Strategic Developments In The Global Solar Micro Inverters Market

8. Appendix
8.1 List Of Abbreviations

List Of Tables
Table 1: Specific Primary And Secondary Sources Used For This Publication
Table 2: Global Solar Micro Inverters Market Snapshot
Table 3: Drivers For The Market: Impact Analysis
Table 4: Restraint For The Market: Impact Analysis
Table 5: Global Solar Micro Inverters Market, By System Type, $M (2012 - 2015)
Table 6: Global Solar Micro Inverters Market, By System Type, $M (2016 - 2026)
Table 7: Global Solar Micro Inverters Market, By End-Use, $M (2012 - 2015)
Table 8: Global Solar Micro Inverters Market, By End-Use, $M (2016 - 2026)
Table 9: Global Solar Micro Inverters Market, By Region, $M (2012 - 2015)
Table 10: Global Solar Micro Inverters Market, By Region, $M (2016 - 2026)
Table 11: North America Solar Micro Inverters Market, By System Type, $M (2012 - 2015)
Table 12: North America Solar Micro Inverters Market, By System Type, $M (2016 - 2026)
Table 13: North America Solar Micro Inverters Market, By End-Use, $M (2012 - 2015)
Table 14: North America Solar Micro Inverters Market, By End-Use, $M (2016 - 2026)
Table 15: North America Solar Micro Inverters Market, By Country, $M (2012 - 2015)
Table 16: North America Solar Micro Inverters Market, By Country, $M (2016 - 2026)
Table 17: Europe Solar Micro Inverters Market, By System Type, $M (2012 - 2015)
Table 18: Europe Solar Micro Inverters Market, By System Type, $M (2016 - 2026)
Table 19: Europe Solar Micro Inverters Market, By End-Use, $M (2012 - 2015)
Table 20: Europe Solar Micro Inverters Market, By End-Use, $M (2016 - 2026)
Table 21: Europe Solar Micro Inverters Market, By Country, $M (2012 - 2015)
Table 22: Europe Solar Micro Inverters Market, By Country, $M (2016 - 2026)
Table 23: Asia-Pacific Solar Micro Inverters Market, By System Type, $M (2012 - 2015)
Table 24: Asia-Pacific Solar Micro Inverters Market, By System Type, $M (2016 - 2026)
Table 25: Asia-Pacific Solar Micro Inverters Market, By End-Use, $M (2012 - 2015)
Table 26: Asia-Pacific Solar Micro Inverters Market, By End-Use, $M (2016 - 2026)
Table 27: Asia-Pacific Solar Micro Inverters Market, By Country, $M (2012 - 2015)
Table 28: Asia-Pacific Solar Micro Inverters Market, By Country, $M (2016 - 2026)
Table 29: Middle East And Africa Solar Micro Inverters Market, By System Type, $M (2012 - 2015)
Table 30: Middle East And Africa Solar Micro Inverters Market, By System Type, $M (2016 - 2026)
Table 31: Middle East And Africa Solar Micro Inverters Market, By End-Use, $M (2012 - 2015)
Table 32: Middle East And Africa Solar Micro Inverters Market, By End-Use, $M (2016 - 2026)
Table 33: Middle East And Africa Solar Micro Inverters Market, By Country, $M (2012 - 2015)
Table 34: Middle East And Africa Solar Micro Inverters Market, By Country, $M (2016 - 2026)
Table 35: South America Solar Micro Inverters Market, By System Type, $M (2012 - 2015)
Table 36: South America Solar Micro Inverters Market, By System Type, $M (2016 - 2026)
Table 37: South America Solar Micro Inverters Market, By End-Use, $M (2012 - 2015)
Table 38: South America Solar Micro Inverters Market, By End-Use, $M (2016 - 2026)
Table 39: South America Solar Micro Inverters Market, By Country, $M (2012 - 2015)
Table 40: South America Solar Micro Inverters Market, By Country, $M (2016 - 2026)
Table 41: Enphase Energy Inc. - Key Facts
Table 42: Solaredge Technologies, Inc. - Key Facts
Table 43: Abb Ltd - Key Facts
Table 44: Offerings Of Abb Ltd
Table 45: Sma Solar Technology Ag - Key Facts
Table 46: Sunpower Corporation - Key Facts
Table 47: Altenergy Power System Inc. - Key Facts
Table 48: Darfon Electronics Corp. - Key Facts
Table 49: Northern Electric And Power Co. Ltd - Key Facts
Table 50: Sparq Systems, Inc. - Key Facts
Table 51: Chilicon Power, Llc. - Key Facts
Table 52: Cyboenergy, Inc. - Key Facts

List Of Figures
Fig 1: Research Scope For Global Solar Micro Inverters Market
Fig 2: Research Methodology For Global Solar Micro Inverters Market
Fig 3: Global Solar Micro Inverters Market Split Based On Value, By Region (2015)
Fig 4: Global Solar Micro Inverters Market, $M (2012 - 2026)
Fig 5: Global Solar Micro Inverters Market Split Based On Value, By System Type (2015)
Fig 6: Global Solar Micro Inverters Market, By System Type, $M (2012 - 2026)
Fig 7: Global Stand-Alone Solar Micro Inverters Market, $M (2012 - 2026)
Fig 8: Global Integrated Solar Micro Inverters Market, $M (2012 - 2026)
Fig 9: Global Solar Micro Inverters Market Split Based On Value, By End-Use (2015)
Fig 10: Global Solar Micro Inverters Market, By End-Use, $M (2012 - 2026)
Fig 11: Global Solar Micro Inverters Market For Residential, $M (2012 - 2026)
Fig 12: Global Solar Micro Inverters Market For Commercial, $M (2012 - 2026)
Fig 13: Global Solar Micro Inverters Market For Utilities, $M (2012 - 2026)
Fig 14: Global Solar Micro Inverters Market Split Based On Value, By Region (2015)
Fig 15: Global Solar Micro Inverters Market, By Region, $M (2012 - 2026)
Fig 16: Worldwide Major Markets For Solar Micro Inverters
Fig 17: North America Solar Micro Inverters Market Highlights (2026)
Fig 18: North America Solar Micro Inverters Market, $M (2012 - 2026)
Fig 19: Europe Solar Micro Inverters Market Highlights (2026)
Fig 20: Europe Solar Micro Inverters Market, $M (2012 - 2026)
Fig 21: Asia-Pacific Solar Micro Inverters Market Highlights (2026)
Fig 22: Asia-Pacific Solar Micro Inverters Market, $M (2012 - 2026)
Fig 23: Middle East And Africa Solar Micro Inverters Market Highlights (2026)
Fig 24: Middle East And Africa Solar Micro Inverters Market, $M (2012 - 2026)
Fig 25: South America Solar Micro Inverters Market Highlights (2026)
Fig 26: South America Solar Micro Inverters Market, $M (2012 - 2026)
Fig 27: Porter's Five Forces Of Competitive Position Analysis
Fig 28: Competitive Positioning Of Global Solar Micro Inverters Market, By End-Use
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