Global Micro-Inverter Market, By Component (Hardware, Software, Services), By Type (Single Phase, Three Phase), By Communication Technology (Wired, Wireless), By Connection (Stand-Alone, Grid-Connected), By Sales Channel (Direct, Indirect), By Application (Residential, Commercial, PV Power Plant), By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026
Market Analysis: Global Micro-Inverter Market
The micro-inverter market is expected to grow from its initial estimated value of USD 2.60 billion in 2018 to an estimated value of USD 10.28 billion by 2026, registering a CAGR of 18.75% in the forecast period of 2019-2026. This rise in market value can be attributed to the rising awareness about the benefits of renewable energy, and increased investments in for its research and developments.
Market Definition: Global Micro-Inverter Market
Microi inverters are an innovative technology that acts just like a basic conventional inverter which is used to convert direct current (DC) into alternate current (AC) from the energy stored inside the solar panels. These inverters regulate and alternate the current for the usage of energy in small electronic devices. The rise in usage of photovoltaic power (PV) systems has raised the demand for these inverters significantly.
- Rise in benefits and awareness about the renewable energy sources along with increased adoption is expected to drive the market growth
- Cost-effectiveness and increased developments of these products increasing their technological capabilities is expected to drive the market growth
- High installation and maintenance costs of these inverters is expected to act as a restraint to the market growth
- Structural and system collapse with high levels of competition from conventional inverter technologies is also expected to act as a restraint to the market growth
Segmentation: Global Micro-Inverter Market
- By Component
- By Type
- Single Phase
- Three Phase
- By Communication Technology
- By Connection
- By Sales Channel
- By Application
- Photovoltaic (PV) Power Plant
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Competitive Analysis: Global Micro-Inverter Market
The global micro-inverter market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of micro-inverter market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players: Global Micro-Inverter Market
Few of the major competitors currently working in the micro-inverter market are Enphase Energy Inc., Altenergy Power System Inc., SunPower Corporation, Siemens AG, Zhejiang Envertech Corporation Limited, Renesola, Darfon Electronics Corp., AEconversion GmbH & Co. KG., SMA Solar Technology AG, Sparq Systems, Omnik New Energy, Sensata Technologies Inc., EnluxSolar Co. Ltd., U R Energy, Samil Power Co. Ltd., ABB, Delta Energy Systems, and SolarEdge Technologies Inc.
Research Methodology: Global Micro-Inverter Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved