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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

  • ID: 4755348
  • Report
  • Region: Global
  • 110 pages
  • TechSci Research
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Global Solar Micro Inverters Market Projected to Grow at a CAGR of Over 10% to Reach $886 Million by 2024

FEATURED COMPANIES

  • ABB
  • Alencon Systems, LLC
  • APsystems
  • Chilicon Power, LLC
  • Darfon Electronics
  • Enphase Energy Inc.
  • MORE

The Global solar micro inverters market is projected to grow at a CAGR of over 10% to reach $886 million by 2024, owing to 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 declining solar micro inverter prices and rising awareness towards the advantages of module-level power electronics (MLPE) technology, solar micro inverters are gaining traction across different end user segments. Moreover, high modularity and compact size of solar micro inverters make them ideal for residential applications, a major factor boosting the popularity of solar micro inverters at the global level. Additionally, government initiatives driving the adoption of PV installations are expected to further push the demand for solar micro inverters in coming years.

In terms of application, the global solar micro inverters market has been categorized into utility, residential and commercial. The residential sector accounted for majority of the global market in 2018 and is expected to witness a healthy growth rate during the forecast period. Expected market dominance of the residential sector can be majorly attributed to increasing adoption of energy conservation measures for controlling the increased energy expenditure in residential applications. Over the coming years, commercial sector is also anticipated to account for a significant portion of the global solar inverters market.

North America emerged as the largest consumer of solar micro inverters across the globe in 2018, owing to growing demand for power and increasing installation of solar energy systems in the region. Among the North American countries, the largest market for solar micro inverters is the US. Furthermore, solar micro inverters market is expected to gain traction in the Asia-Pacific region, especially in countries like India and Australia. Growth of the solar micro inverters market in the region is anticipated to be majority driven by burgeoning demand for power supply, favorable government policies and soaring fuel prices. Among the countries in the Asia-Pacific region, the Indian market for solar invertors is expected to capture 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 solar micro inverters demand across the country.

The Global solar micro inverters market, which is dominated by major players, also boasts the presence of small-scale manufacturers. Few of the major companies operating in the global solar micro inverters market are Renesola, Enphase Energy Inc., APsystems, Darfon Electronics, Siemens, Chilicon Power LLC 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 global solar micro inverters market size in terms of value and volume.
  • To forecast the global solar micro inverters market, based on connectivity, application and regional distribution.
  • To identify drivers and challenges for the global solar micro inverters market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc. in the global solar micro inverters market.
  • To conduct the pricing analysis for the global solar micro inverters market.
  • To identify and analyze the profile of leading players operating in the global solar micro inverters market.

Some of the leading players in the global solar micro inverters market are Renesola, Enphase Energy Inc., APsystems, Darfon Electronics, Siemens, AE Conversion Gmbh & Company, Alencon Systems LLC, ABB, SunPower Corporation, Chilicon Power LLC etc.

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

The author calculated the global solar micro inverters market size using a top down approach, where data for various applications across various end-user segments was recorded and forecast for the future years. The author 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.

Key Target Audience:

  • Solar micro inverter manufacturers
  • Solar micro inverters end-user industries
  • Government bodies such as regulating authorities and policymakers
  • 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 industry stakeholders such as manufacturers, partners and end users. The report also provides useful insights about which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth opportunities.

Report Scope:

In this report, the 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 the global solar micro inverters market.

Available Customizations:

With the given market data, the author offers customizations according to a 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.

*Note - Custom Research License:

For both the Single and Enterprise user license, 10% report specific customization is available free of any additional cost, as above. However, alternatively, if you are looking for additional content data or insight related to the scope of the report, you may purchase the new “Custom Research License”. Please enquire for pricing.

The custom research will be delivered in printable PDF format along with the report’s data excel sheet. This license offers 80 analyst hours. It is strongly recommended for an organization which wants to execute short ‘bespoke’ research projects related to the scope of the purchased report.

Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • ABB
  • Alencon Systems, LLC
  • APsystems
  • Chilicon Power, LLC
  • Darfon Electronics
  • Enphase Energy Inc.
  • MORE
1. Product Overview

2. Research Methodology

3. Executive Summary

4. Voice of Customer
4.1. Brand Awareness
4.2. Brand Recall
4.3. Brand Satisfaction
4.4. Factors Influencing Purchase Decision
4.5. Challenges/Issues Faced Post Purchase
4.6. Unmet Needs

5. Global Solar Micro Inverters Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Connectivity (Standalone, On-grid)
5.2.2. By Application (Utility, Residential, Commercial)
5.2.3. By Company
5.2.4. By Region
5.3. Market Attractiveness Index

6. Asia-Pacific Solar Micro Inverters Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Connectivity
6.2.2. By Application
6.2.3. By Country
6.3. Market Attractiveness Index
6.4. Asia-Pacific: Country Analysis
6.4.1. China Solar Micro Inverters Market Outlook
6.4.1.1. Market Size & Forecast
6.4.1.1.1. By Value
6.4.1.2. Market Share & Forecast
6.4.1.2.1. By Application
6.4.1.3. Market Attractiveness Index
6.4.2. India Solar Micro Inverters Market Outlook
6.4.2.1. Market Size & Forecast
6.4.2.1.1. By Value
6.4.2.2. Market Share & Forecast
6.4.2.2.1. By Application
6.4.2.3. Market Attractiveness Index
6.4.3. Japan Solar Micro Inverters Market Outlook
6.4.3.1. Market Size & Forecast
6.4.3.1.1. By Value
6.4.3.2. Market Share & Forecast
6.4.3.2.1. By Application
6.4.3.3. Market Attractiveness Index
6.4.4. South Korea Solar Micro Inverters Market Outlook
6.4.4.1. Market Size & Forecast
6.4.4.1.1. By Value
6.4.4.2. Market Share & Forecast
6.4.4.2.1. By Application
6.4.4.3. Market Attractiveness Index
6.4.5. Australia Solar Micro Inverters Market Outlook
6.4.5.1. Market Size & Forecast
6.4.5.1.1. By Value
6.4.5.2. Market Share & Forecast
6.4.5.2.1. By Application
6.4.5.3. Market Attractiveness Index
6.4.6. Thailand Solar Micro Inverters Market Outlook
6.4.6.1. Market Size & Forecast
6.4.6.1.1. By Value
6.4.6.2. Market Share & Forecast
6.4.6.2.1. By Application
6.4.6.3. Market Attractiveness Index
6.4.7. Malaysia Solar Micro Inverters Market Outlook
6.4.7.1. Market Size & Forecast
6.4.7.1.1. By Value
6.4.7.2. Market Share & Forecast
6.4.7.2.1. By Application
6.4.7.3. Market Attractiveness Index

7. Europe Solar Micro Inverters Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Connectivity
7.2.2. By Application
7.2.3. By Country
7.3. Market Attractiveness Index
7.4. Europe: Country Analysis
7.4.1. France Solar Micro Inverters Market Outlook
7.4.1.1. Market Size & Forecast
7.4.1.1.1. By Value
7.4.1.2. Market Share & Forecast
7.4.1.2.1. By Application
7.4.1.3. Market Attractiveness Index
7.4.2. Germany Solar Micro Inverters Market Outlook
7.4.2.1. Market Size & Forecast
7.4.2.1.1. By Value
7.4.2.2. Market Share & Forecast
7.4.2.2.1. By Application
7.4.2.3. Market Attractiveness Index
7.4.3. United Kingdom Solar Micro Inverters Market Outlook
7.4.3.1. Market Size & Forecast
7.4.3.1.1. By Value
7.4.3.2. Market Share & Forecast
7.4.3.2.1. By Application
7.4.3.3. Market Attractiveness Index
7.4.4. Italy Solar Micro Inverters Market Outlook
7.4.4.1. Market Size & Forecast
7.4.4.1.1. By Value
7.4.4.2. Market Share & Forecast
7.4.4.2.1. By Application
7.4.4.3. Market Attractiveness Index
7.4.5. Spain Solar Micro Inverters Market Outlook
7.4.5.1. Market Size & Forecast
7.4.5.1.1. By Value
7.4.5.2. Market Share & Forecast
7.4.5.2.1. By Application
7.4.5.3. Market Attractiveness Index

8. North America Solar Micro Inverters Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Connectivity
8.2.2. By Application
8.2.3. By Country
8.3. Market Attractiveness Index
8.4. North America: Country Analysis
8.4.1. United States Solar Micro Inverters Market Outlook
8.4.1.1. Market Size & Forecast
8.4.1.1.1. By Value
8.4.1.2. Market Share & Forecast
8.4.1.2.1. By Application
8.4.1.3. Market Attractiveness Index
8.4.2. Mexico Solar Micro Inverters Market Outlook
8.4.2.1. Market Size & Forecast
8.4.2.1.1. By Value
8.4.2.2. Market Share & Forecast
8.4.2.2.1. By Application
8.4.2.3. Market Attractiveness Index
8.4.3. Canada Solar Micro Inverters Market Outlook
8.4.3.1. Market Size & Forecast
8.4.3.1.1. By Value
8.4.3.2. Market Share & Forecast
8.4.3.2.1. By Application
8.4.3.3. Market Attractiveness Index

9. South America Solar Micro Inverters Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Connectivity
9.2.2. By Application
9.2.3. By Country
9.3. Market Attractiveness Index
9.4. South America: Country Analysis
9.4.1. Brazil Solar Micro Inverters Market Outlook
9.4.1.1. Market Size & Forecast
9.4.1.1.1. By Value
9.4.1.2. Market Share & Forecast
9.4.1.2.1. By Application
9.4.1.3. Market Attractiveness Index
9.4.2. Argentina Solar Micro Inverters Market Outlook
9.4.2.1. Market Size & Forecast
9.4.2.1.1. By Value
9.4.2.2. Market Share & Forecast
9.4.2.2.1. By Application
9.4.2.3. Market Attractiveness Index
9.4.3. Chile Solar Micro Inverters Market Outlook
9.4.3.1. Market Size & Forecast
9.4.3.1.1. By Value
9.4.3.2. Market Share & Forecast
9.4.3.2.1. By Application
9.4.3.3. Market Attractiveness Index

10. Middle East & Africa Solar Micro Inverters Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By Connectivity
10.2.2. By Application
10.2.3. By Country
10.3. Market Attractiveness Index
10.4. MEA: Country Analysis
10.4.1. South Africa Solar Micro Inverters Market Outlook
10.4.1.1. Market Size & Forecast
10.4.1.1.1. By Value
10.4.1.2. Market Share & Forecast
10.4.1.2.1. By Application
10.4.1.3. Market Attractiveness Index
10.4.2. Saudi Arabia Solar Micro Inverters Market Outlook
10.4.2.1. Market Size & Forecast
10.4.2.1.1. By Value
10.4.2.2. Market Share & Forecast
10.4.2.2.1. By Application
10.4.2.3. Market Attractiveness Index
10.4.3. UAE Solar Micro Inverters Market Outlook
10.4.3.1. Market Size & Forecast
10.4.3.1.1. By Value
10.4.3.2. Market Share & Forecast
10.4.3.2.1. By Application
10.4.3.3. Market Attractiveness Index
10.4.4. Qatar Solar Micro Inverters Market Outlook
10.4.4.1. Market Size & Forecast
10.4.4.1.1. By Value
10.4.4.2. Market Share & Forecast
10.4.4.2.1. By Application
10.4.4.3. Market Attractiveness Index

11. Pricing Analysis

12. Market Dynamics
12.1. Drivers
12.2. Challenges

13. Market Trends & Developments

14. Competitive Landscape
14.1. Competition Outlook
14.2. Company Profiles
14.2.1. Basic Details
14.2.2. Financials (As reported)
14.2.3. Supply Chain Analysis
14.2.4. Key Market Focus and Geographical Presence
14.2.5. Planned Investments
14.2.6. Pricing of Target Products
14.2.7. Market positioning
14.3. Global Players Profiled (Leading Companies)
15.3.1 Renesola
15.3.2 Enphase Energy Inc.
15.3.3 APsystems
15.3.4 Darfon Electronics
15.3.5 Siemens
15.3.6 AE Conversion Gmbh & Company
15.3.7 Alencon Systems, LLC
15.3.8 ABB
15.3.9 SunPower Corporation
15.3.10 Chilicon Power, LLC
(Note: The companies list can be customized based on the client requirements)

15. Strategic Recommendations

*Full List of Figures Available on Enquiry.
Note: Product cover images may vary from those shown
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  • Renesola
  • Enphase Energy Inc.
  • APsystems
  • Darfon Electronics
  • Siemens
  • AE Conversion Gmbh & Company
  • Alencon Systems, LLC
  • ABB
  • SunPower Corporation
  • Chilicon Power, LLC
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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