Global Micro-Inverter Market (2021-2026) by Application Type, Offering Type, Communication Technology Type, Type, Power Rating Type, Connection Type, Sales Channel Type, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis

The Global Micro-Inverter Market is estimated to be USD 3.1 Bn in 2021 and is expected to reach USD 7.75 Bn by 2026, growing at a CAGR of 20.10%.

Market Dynamics

The Global Micro-Inverter Market increasing demand for remote monitoring and a growing number of solar rooftop installations by residential applications will fuel the market's growth. Additionally, micro-inverters have technical advantages over conventional solar inverters, i.e., it helps in converting a solar array to electricity which will also drive the market’s growth. On the other hand, reduction in electricity consumption and requirement by the end-users such as commercial and industries, and being a premium product, it incurred high cost required for installation of micro-invertors, and their regular maintenance will be restricting market’s growth.

Furthermore, the increasing number of players in the market creating pricing strategy pressure among the micro-inverter manufacturers and safety risks associated with micro-inverters at high DC voltages are significant challenges for the market. Moreover, technological advancement (IoT and AI) and product innovation help improve the capabilities of micro-inverter with penetrating potential of new solar installation, which will help boost the market. Therefore, Government initiative and support towards the adoption of solar PV installation and renewable energy sector will create opportunities for the market to grow.

Market Segmentation

• The Global Micro-Inverter Market is segmented further based on Application Type, Offering Type, Communication Technology Type, Type, Power Rating Type, Connection Type, Sales Channel Type, and Geography.
• By Application Type, the market is classified into Residential, Commercial, and Photovoltaic (PV) Power Plant.
• By Offering Type, the Micro-Inverter market is classified into Hardware and Software & Services.
• By Communication Technology Type, the Micro-Inverter market is classified into Wired and Wireless.
• By Type, the Micro-Inverter market is classified into Single Phase and Three Phase.
• By Power Rating Type, the Micro-Inverter market is classified into Below 250 W, Between 250-500 W, and Above 500 W.
• By Connection Type, the Micro-Inverter market is classified into Stand-Alone and Grid-Tied.
• By Sales Channel Type, the Micro-Inverter market is classified into Direct and Indirect.
• By Geography, Asia Pacific is projected to lead the market.

Recent Developments

1. Enphase Energy, Inc and IBC SOLAR AG partnership for distribution and expansion of IBC SOLAR AG portfolio by adding Microinventor Systems-April 29, 2021
2. Sensata Technologies acquired Xirgo Technologies Intermediate Holdingd, LLC to focus on growth initiatives for transportation and logistics end-markets-April 1, 2021
3. ReseSola signs partnership agreement with Avenston to market and sell High Quality and High-Efficiency Solar PV Modules and explore more opportunities in Ukraine-August 10, 2020

Company Profiles

Some of the companies covered in this report are AEconversion GmbH & Co KG, Altenergy Power System, Inc, Darfon Electronics Corporation, Enphase Energy, Inc, Envertech, Generac Holdings, Inc, Northern Electric & Power, ReneSola, Sensata Technologies, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle-East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Micro-Inverter Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.

Report Highlights:

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market