Global Solar Micro Inverter Market, By Product (Single-Phase Inverter, Three-Phase Inverter and Multiphase Inverter), Application (Residential, Commercial and Utility), and Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights: Global Solar Micro Inverter Market
The solar micro inverter market is expected to witness market growth at a rate of 16.10% in the forecast period of 2021 to 2028 and is expected to reach USD 2,238.14 million by 2028. Data Bridge Market Research report on solar micro inverter market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market's growth. The rise in the adoption of renewable energy generation is escalating the growth of solar micro inverter market.
A solar micro inverter is known to be a plug-and-play equipment that is utilized in the photovoltaic installations that converts the direct current that is generated by a single module to alternating current. Conflicting to conventional central inverters, micro inverters work on module level power electronics (MLPE), in which power conversion takes place at the individual module level.
Major factors that are expected to boost the growth of the solar micro inverter market in the forecast period are the rise in the benefits offered over conventional solar inverters. Furthermore, the micro solar inverters provide several benefits over the conventional string and central inverters like high energy yield is further anticipated to propel the growth of the solar micro inverter market. Moreover, the module-level monitoring abilities, longer life cycles, improved safety, betters flexibility, simplicity, and higher labor efficiency is further estimated to cushion the growth of the solar micro inverter market. On the other hand, the increase in the acceptance of DC optimizer is further projected to impede the growth of solar micro inverter market in the timeline period.
- In addition, the rise in the installation of home solar panels will further provide potential opportunities for the growth of the solar micro inverter market in the coming years. However, the incidence of economical solutions in solar PV panels which might further challenge the growth of the solar micro inverter market in the near future.
This solar micro inverter market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the solar micro inverter market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
Global Solar Micro Inverter Market Scope and Market Size
The solar micro inverter market is segmented on the basis of product and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the solar micro inverter market has been segmented into single-phase inverter, three-phase inverter and multiphase inverter.
- On the basis of application, the solar micro inverter market has been segmented into residential,
commercial and utility.
Solar Micro Inverter Market Country Level Analysis
The solar micro inverter market is analyzed, and market size, volume information is provided by country, product and application as referenced above.
The countries covered in the solar micro inverter market report are the U.S., Canada, and Mexico in North America, Brazil, Argentina, and the rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of the Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
North America dominates the solar micro inverter market due to the rise in the number of micro-inverter installations. Furthermore, the suitable economic conditions will further boost the growth of the solar micro inverter market in the region during the forecast period. Asia-Pacific is projected to observe significant amount of growth in the solar micro inverter market due to the increase in the rooftop installations. Moreover, the rise in the awareness of the advanced features in micro-inverters is further anticipated to propel the growth of the solar micro inverter market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Solar Micro Inverter Market Share Analysis
The solar micro inverter market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the solar micro inverter market.
The major players covered in the solar micro inverter market report are ABB, SMA Solar Technology AG, Canadian Solar., SolarEdge Technologies Inc, SunPower Corporation, Delta Electronics, Inc., Yaskawa – Solectria Solar, Sineng Electric, Hitachi Hi-Rel Power Electronics Private Limited, Endeavor Business Media, LLC., Northern Electric Power Technology Inc., SPARQ Systems, Chilicon Power, LLC., Altenergy Power System Inc., iEnergy Co. Ltd., Siemens, EnluxSolar Co. Ltd., Zhejiang Envertech Corporation Limited, Darfon Electronics Corp., and AEconversion GmbH & Co. KG., among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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