Micro-inverter Market with COVID-19 Impact by Offering, Communication Technology, Type, Power Rating, Connection Type, Sales Channel, Application (Residential, Commercial, and PV Power Plant), and Geography - Global Forecast to 2025
Micro-inverter Market
Micro-inverter Market and Top Companies
Enphase Energy : Enphase Energy designs, develops, and sells micro-inverter systems for residential and commercial end users in the US and internationally. The company offers its products such as AC modules, micro-inverters, battery energy storage systems, accessories, and supportive software applications. It also provides IQ Envoya communication gateway.
Darfon Electronics: Darfon Electronics offers micro-inverters through its US-based subsidiary, Darfon Solar. Its product portfolio consists of an extensive range of micro-inverters, storage solutions, and monitoring systems. Darfon Solar offers G640 micro-inverter series. These micro-inverters are well-suited for residential and commercial applications. The company also provides data loggers, programmable logic controller (PLC) boxes, and ComBox. The cloud-based monitoring systems offered by Darfon enable users to efficiently troubleshoot problems in PV systems, thereby resulting in low maintenance costs.
Altenergy Power System: Altenergy Power System, also known as APsystems, is a global company that develops, manufactures, and markets micro-inverters. The micro-inverters offered by the company are based on its proprietary solar technology. APsystems offers advanced solar micro-inverters for use in residential and commercial applications. It offers QS1, YC600, and YC1000 micro-inverters, as well as an energy monitoring & analysis (EMA) web portal and mobile apps to monitor and control the panel-by-panel performance of solar systems. Its proprietary system architecture combines highly efficient power inversion systems with user-friendly monitoring interfaces to offer reliable and intelligent energy solutions that ensure maximum output of solar arrays.
ReneSola : ReneSola is a leading manufacturer and supplier of green energy products. Its micro-inverter solution is branded as Micro Replus and comprises micro-inverters, Micro Replus Gateway (MRG), and monitoring software. The micro-inverters offered by ReneSola are designed to improve the reliability of solar PV harvesting in residential applications. Its LED portfolio includes LED outdoor lighting, LED indoor lighting, compact fluorescent lamps (CFL), and LED retrofit lamps.
Chilicon Power: Chilicon Power develops, manufactures, and sells advanced micro-inverters. The offerings of the company include CP-720 and CP-250E micro-inverters, and a gateway. The micro-inverters of Chilicon Power can replace large central inverters. They integrate with advanced networking technologies and web-based software to enable a new level of intelligence and connectivity for solar arrays. The CP-720 inverter of the company offers sustainable power production of 720 watts AC, which acts as a well-scaled output power that is compatible with 60-cell, 72-cell, or 96-cell modules up to 840 W DC.
Micro-inverter Market and Top Applications
- Residential: PV installations in the residential sector have been increasing tremendously and are projected to continue in the coming years. Solar inverter systems at residential levels have also become critical due to the increased adoption of residential-scale PV. Micro-inverters are mainly used in residential applications. Owing to its features such as great scalability and flexibility and because they are easy to install as compared to conventional string or central inverter technology, these micro-inverters are well suited in residential solar rooftop PV installations.
- Commercial: A commercial-scale PV system is among the most familiar ways to enhance the companys green credentials, as well as reduce electricity bills. Installing a solar PV system at a commercial level not only protects against the ever-rising retail energy prices but can also provide financial incentives by selling power to the grid. Mostly college and school campuses, as well as commercial buildings, hotels, and farms, have rooftop and ground solar PV installations. A micro-inverter helps in increasing the amount of energy harvested from an array in commercial applications. In addition, the lower voltages of micro-inverters make them a safer choice for commercial applications.
- PV Power Plant: PV power plants are a relatively newer application segment for micro-inverters. It accounts for a smaller share than residential and commercial applications. The number of solar panels installed in a PV plant is huge, and it may not be convenient and cost-efficient to integrate micro-inverters for each panel. Also, most micro-inverters are single phased and are not suitable for this application as the electricity generated is transmitted directly to the grid, which requires a three-phase connection. However, a few manufacturers, such as Altenergy Power Systems, have expanded their micro-inverter product portfolio and offer three-phase micro-inverters that can handle up to 34 modules per unit, which is suitable for PV power plant applications.
Micro-inverter Market and Top Types
- Single Phase: Most micro-inverters available in the market, at present, are single phased. New homes and small businesses adopt single-phase micro-inverters, wherein single-phase electric power is transmitted via 2 wiresactive and neutral. Electricity from the solar PV system flows through one active wire, while the neutral wire is connected to the ground (earth) at the switchboard.
- Three Phase: A three-phase micro-inverter is invented recently. These inverters are specifically designed to supply three-phase electric power and are mostly suitable for PV power plant applications. In conventional micro-inverter designs that work on single-phase power, the energy from the panel must be stored during the period when the voltage is passing through zero, which it does twice per cycle. In contrast, in a three-phase system, throughout the cycle, one of the three wires has a positive or negative voltage, and thus the need for storage can be greatly reduced by transferring the output of the panel to different wires during each cycle.
[179 Pages Report] The global micro-inverter market size was valued at USD 2.5 billion in 2020 and is projected to reach USD 6.5 billion by 2025; it is expected to grow at a CAGR of 20.8% from 2020 to 2025.
The key factors fueling the growth of this market include increasing demand for micro-inverter solutions in residential applications, growing visibility regarding the inherent benefits offered by them, such as remote monitoring capabilities, upsurge in renewable energy investment, and government initiatives encouraging the adoption of renewable energy.
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COVID-19 impact on the micro-inverter market
COVID-19 is an infectious disease caused by the novel coronavirus. Largely unknown before this outbreak across the world, COVID-19 has moved from a regional crisis to a global pandemic in just a matter of a few weeks. The World Health Organization (WHO) declared COVID-19 as a pandemic on March 11, 2020.
COVID-19 has not only affected the commercial sector but has also impacted the global economy. With an increasing number of countries imposing and extending lockdowns, economic activities are likely to further drop, which will, in turn, impact the global economy. Furthermore, the market is expected to be adversely impacted by COVID-19 owing to the decrease in demand for power from commercial applications. Power generation in countries affected by COVID-19 has reduced due to lockdowns. This is because the demand for power from commercial end users has gone down in these countries. Though the domestic power demand has increased due to lockdowns, commercial and industrial end users still contribute the larger share in the consumption of power. The ongoing pandemic has ceased energy production at several solar plants in these countries, which is expected to reduce the demand for micro-inverters in the next few years.
Market Dynamics
Driver: Technical advantages of micro-inverters over conventional solar inverters
Micro-inverters have several technical advantages over other conventional string and central solar inverters. Unlike conventional inverters, which are placed at a distance from the solar array and can operate and monitor a number of solar panels at a time, micro-inverters are placed beneath every solar panel and convert direct current (DC) electricity produced by a single solar panel. This enables them to operate individually. Micro-inverter delivers a maximum potential output of the photovoltaic (PV) system. The main advantage of micro-inverters is their ability to maintain a robust and consistent flow of power despite shading of one or more of its panels; this has increased the popularity of micro-inverters among end users. Hence, micro-inverters are largely deployed with solar panels.
Restraint: Higher installation and maintenance costs of micro-inverters
Though micro-inverters have several advantages over conventional central and string inverter systems, one of the major factors restraining the market is the cost incurred during installation and maintenance. Micro-inverters are premium products and available at a high-end price. A micro-inverter system basically includes one micro-inverter per module, communication gateway, expensive AC trunk cables, and custom tools. The limited current of an AC trunk cable limits the number of inverters that can be connected to the same cable trunk. Moreover, a micro-inverter system costs ~USD 100, and as these inverters are well known for operating individual panels and are installed one panel each, it involves more number of micro-inverter installations and a higher expense than that incurred for a string inverter on a standard solar installation. In other words, higher the number of solar panels, higher the number of micro-inverters to be installed, thereby resulting in increased cost. Also, in the event of a problem, a technician needs to get on the roof and remove entire solar panels to access the unit. These are among the factors restraining end users from adopting the technology.
Opportunity: Increase in number of solar PV installations owing to incentive schemes by governments of different countries
Rapid developments in the solar energy sector in terms of power generation and utilization are contributing to the increase in the number of solar PV installations for various applications across the world. According to the Global Market Outlook for Solar Power/20202024a report published by SolarPower Europea total of 16 countries installed over 1 GW of solar panels in 2019i.e., 5 more than the 11-GW-scale solar panel installations in 2018. Countries such as China, the US, Germany, and Japan are major markets to have witnessed an increased number of new solar installations in 2019. Inverters have a higher penetration potential in new solar installations than the existing ones or the installations underway. Therefore, flourishing solar energy markets that include India, Brazil, and France create significant growth opportunities for solar inverter systems. Moreover, an increased number of global PV power plant installations also act as potential growth opportunities for solar micro-inverter systems.
Challenge: Pricing pressure on manufacturers of micro-inverters
Solar PV systems are witnessing increased global demand as they are used to generate green power to reduce dependence on grid power. With decreasing prices of solar modules, micro-inverters account for a large share of the overall installation costs of these modules. This results in downward price pressure on manufacturers of micro-inverters. As the overall costs of residential, commercial, industrial, and utility-based solar systems are reducing, inverter companies are bound to reduce the prices of their products. Manufacturers of solar modules are enduring more pressure than the manufacturers of micro-inverters in terms of reduction in the costs of their products. Manufacturers of micro-inverters are finding it difficult to accommodate this change and allow price drops in their inverters. These price drops can be primarily attributed to the development of low-cost equipment and compressed profit margins, which are indicators of the overall price decline in micro-inverters in the near future.
Between 250 W and 500 W segment expected to contribute the largest share to the micro-inverter market during the forecast period
Micro-inverters with a power output rating between 250 and 500 watts are suitable for residential and commercial applications. Residential solar PV systems are installed mostly on the rooftop; they offer the benefits of feed-in tariffs and net metering. Solar PV systems are increasingly being installed globally for residential applications, and a similar trend is likely to be observed during the forecast period as well. Governments of different countries, such as China, the US, and Germany, are encouraging rooftop PV installations for residential end users. However, the outbreak of the COVID-19 pandemic has caused a decline of around 1520% in the annual solar panel installations, globally, for residential applications, which, in turn, had an adverse impact on the demand for 250500-watt micro-inverters.
Hardware segment expected to lead the micro-inverter market in 2020
Hardware offerings provided by micro-inverter solution providers mainly include capacitors, sensors, microcontroller units (MCUs), and other electric components. These devices are considered to be the main components of the micro-inverter system as they help convert DC power from a panel to AC power. The AC power is further transmitted through wires and cables for use in residential or commercial applications. Micro-inverters can be directly integrated into solar panels, and each panel can be monitored.
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The high number of micro-inverter installations in the region, mainly in the US and Canada, can be attributed to the growth of the micro-inverter market in the region. The US was the first country to adopt micro-inverter technology at a large scale, especially for residential applications. Moreover, several companies, such as Enphase Energy, Altenergy Power System, Chilicon Power, and Sensata Technologies, based in this region offer micro-inverter technology-based products, which further adds to the growth of the micro-inverter market in North America. In addition, favorable economic conditions, the growing solar PV market, as well as supportive regulatory policies aiding solar electricity generation in the residential sector in the US and other countries of the region, encourage several domestic and international manufacturers to enhance their micro-inverter offerings.
Key Market Players
The micro-inverter players have implemented various types of organic as well as inorganic growth strategies, such as product developments, partnerships, agreements, and collaborations, to strengthen their offerings in the market. The major players are Enphase Energy (US), Altenergy Power System (US), Darfon Electronics (Taiwan), ReneSola (China), AEconversion (Germany), and Chilicon Power (US) among others.
The study includes an in-depth competitive analysis of these key players in the micro-inverter market with their company profiles, recent developments, and key market strategies.
Report Scope:
|
Report Metric |
Details |
|
Years considered |
20172025 |
|
Base year considered |
2019 |
|
Forecast period |
20202025 |
|
Forecast units |
Value (USD million and USD billion), Volume (GW) |
|
Segments covered |
Offering, Communication Technology, Type, Power Rating, Connection Type, Sales Channel, Application, and Region |
|
Regions covered |
North America, APAC, Europe, and RoW |
|
Companies covered |
Enphase Energy (US), Altenergy Power System (US), Darfon Electronics (Taiwan), ReneSola (China), AEconversion (Germany), and Chilicon Power (US) A total of 20 players covered. |
In this report, the overall micro-inverter market has been segmented based on Offering, Communication Technology, Type, Power Rating, Connection Type, Sales Channel, Application, and Region
Micro-Inverter Market, by Offering
- Hardware
- Software & Services
Micro-Inverter Market, by Communication Technology
- Wired
- Wireless
Micro-Inverter Market, by Type
- Single Phase
- Three Phase
Micro-Inverter Market, by Power Rating
- Below 250 W
- Between 250 W and 500 W
- Above 500 W
Micro-Inverter Market, by Connection Type
- Stand-alone
- Grid-tied
Micro-Inverter Market, by Sales Channel
- Direct
- Indirect
Micro-Inverter Market, by Application
- Residential
- Commercial
- PV Power Plant
Geographic Analysis
- North America (US, Canada, and Mexico)
- Europe (UK, Germany, France, Netherlands, and Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, and Rest of APAC)
- Rest of the World (South America and Middle East & Africa)
Recent Developments
- In June 2020, Enphase Energy partnered with Australia-based Excel Power. Under this partnership, Excel Power installed a 50 kW Enphase micro-inverter based system for Wippells Autos, a Jaguar and Land Rover dealer based in Toowoomba City, Queensland (Australia).
- In January 2020, Enphase Energy collaborated with Netherlands-based Teslandi.pro for a commercial project. The commercial solar division of Teslandi.pro was chosen by a sustainable building developer, E-Unit, for deploying a 780 kW solar energy system for its new 42-unit building in Arnhem (Netherlands). This commercial solar system comprises 2,600 Enphase IQ 7+ micro-inverters.
- In February 2019, Envertech introduced EnverView 2.0, an upgraded version of its smart monitoring application, for the IOS App Store, as well as the Android Play Store. This new version has more enhanced operational functions and user interfaces than the previous one
Frequently Asked Questions (FAQ):
What is the market size of micro-inverter market expected in 2020?
The micro-inverter market is expected to be valued USD 2.5 billion by 2020.
Which are the top players in the micro-inverter market?
The major vendors operating in the micro-inverter market include Enphase Energy, Darfon Electronics, Chilicon Power, ReneSola, and Altenergy Power System among others.
Which major countries are considered in the North America region?
The report includes an analysis of the US, Canada, and Mexico countries.
Which are the major applications in which micro-inverters are used?
Significant applications using micro-inverters are residential, commercial, and PV power plant.
Does this report include the impact of COVID-19 on the market?
Yes, the report includes the impact of COVID-19 on the micro-inverter market. .
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 25)
1.1 STUDY OBJECTIVES
1.2 DEFINITION AND SCOPE
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 MARKET SEGMENTATION
1.3.1 GEOGRAPHIC SCOPE
1.3.2 YEARS CONSIDERED
1.4 CURRENCY
1.5 LIMITATIONS
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 30)
2.1 RESEARCH DATA
FIGURE 1 RESEARCH DESIGN
2.2 SECONDARY AND PRIMARY RESEARCH
2.2.1 SECONDARY DATA
2.2.1.1 Secondary sources
2.2.2 PRIMARY DATA
2.2.2.1 Primary sources
2.2.2.2 Key industry insights
2.2.2.3 Breakdown of primaries
2.3 MARKET SIZE ESTIMATION
2.3.1 BOTTOM-UP APPROACH
FIGURE 2 BOTTOM-UP APPROACH
2.3.2 TOP-DOWN APPROACH
FIGURE 3 TOP-DOWN APPROACH
FIGURE 4 MICRO-INVERTER MARKET: MARKET SIZE ESTIMATION, BY DEMAND-SIDE APPROACH
2.4 DATA TRIANGULATION
FIGURE 5 DATA TRIANGULATION
2.5 RESEARCH ASSUMPTIONS
3 EXECUTIVE SUMMARY (Page No. - 40)
FIGURE 6 MICRO-INVERTER MARKET, 20162025
TABLE 1 MICRO-INVERTER MARKET, IN TERMS OF VALUE AND VOLUME, 20162019
TABLE 2 MICRO-INVERTER MARKET, IN TERMS OF VALUE AND VOLUME, 20202025
FIGURE 7 MICRO-INVERTER MARKET: PRE- AND POST-COVID-19 SCENARIOS
3.1 PRE-COVID-19 SCENARIO
TABLE 3 MICRO-INVERTER MARKET, PRE-COVID-19 SCENARIO, 20202025
3.2 REALISTIC SCENARIO
TABLE 4 MICRO-INVERTER MARKET, POST-COVID-19 REALISTIC SCENARIO, 20202025
3.3 PESSIMISTIC SCENARIO
TABLE 5 MICRO-INVERTER MARKET, POST-COVID-19 PESSIMISTIC SCENARIO, 20202025
3.4 OPTIMISTIC SCENARIO
TABLE 6 MICRO-INVERTER MARKET, POST-COVID-19 OPTIMISTIC SCENARIO, 20202025
FIGURE 8 GRID-TIED MICRO-INVERTERS TO HOLD LARGER MARKET SHARE IN 2020
FIGURE 9 WIRED COMMUNICATION TECHNOLOGY TO CAPTURE LARGER SIZE OF MICRO-INVERTER MARKET IN 2025
FIGURE 10 RESIDENTIAL APPLICATIONS TO SIGNIFICANTLY CONTRIBUTE TO MARKET GROWTH DURING FORECAST PERIOD
FIGURE 11 NORTH AMERICA EXPECTED TO HOLD LARGEST SHARE OF MICRO-INVERTER MARKET IN 2020
4 PREMIUM INSIGHTS (Page No. - 47)
4.1 APAC TO PROVIDE LUCRATIVE OPPORTUNITIES FOR MICRO-INVERTER MARKET IN COMING YEARS
FIGURE 12 ATTRACTIVE GROWTH OPPORTUNITIES IN MICRO-INVERTER MARKET
4.2 MICRO-INVERTER MARKET, BY TYPE (20172025)
FIGURE 13 SINGLE-PHASE MICRO-INVERTER MARKET TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
4.3 MICRO-INVERTER MARKET, BY POWER RATING
FIGURE 14 MICRO-INVERTERS WITH POWER RATING BETWEEN 250 W AND 500 W TO HOLD LARGEST MARKET SHARE IN 2020
4.4 MICRO-INVERTER MARKET, BY SALES CHANNEL
FIGURE 15 INDIRECT SALES CHANNELS TO CAPTURE LARGER SHARE OF MICRO-INVERTER MARKET IN 2020
4.5 MICRO-INVERTER MARKET, BY REGION
FIGURE 16 INDIA TO WITNESS HIGHEST CAGR IN MICRO-INVERTER MARKET DURING 20202025
5 MARKET OVERVIEW (Page No. - 50)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 17 MICRO-INVERTER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Technical advantages of micro-inverters over conventional solar inverters
FIGURE 18 GLOBAL SHIPMENT OF DIFFERENT TYPES OF SOLAR INVERTERS, 2019
5.2.1.2 Significant capital inflows in renewable energy sector
FIGURE 19 GLOBAL INVESTMENTS IN RENEWABLE ENERGY SOURCES, 2018 (USD BILLION)
5.2.1.3 High demand for micro-inverters due to their remote monitoring capabilities
5.2.1.4 Increasing number of residential solar rooftop installations
FIGURE 20 MICRO-INVERTER MARKET: IMPACT ANALYSIS OF DRIVERS
5.2.2 RESTRAINTS
5.2.2.1 Decreased demand for micro-inverters with reduced electricity requirement from commercial and industrial end users due to COVID-19 outbreak
5.2.2.2 Higher installation and maintenance costs of micro-inverters
FIGURE 21 MICRO-INVERTER MARKET: IMPACT ANALYSIS OF RESTRAINTS
5.2.3 OPPORTUNITIES
5.2.3.1 Increase in number of solar PV installations owing to incentive schemes by governments of different countries
5.2.3.2 Technological innovations in inverters to improve their capabilities
FIGURE 22 MICRO-INVERTER MARKET: IMPACT ANALYSIS OF OPPORTUNITIES
5.2.4 CHALLENGES
5.2.4.1 Pricing pressure on manufacturers of micro-inverters
5.2.4.2 Safety risks associated with high DC voltages
FIGURE 23 MICRO-INVERTER MARKET: IMPACT ANALYSIS OF CHALLENGES
5.3 VALUE CHAIN ANALYSIS
FIGURE 24 MICRO-INVERTER MARKET: MAJOR VALUE ADDED BY MANUFACTURERS AND COMPONENT PROVIDERS
5.4 ECOSYSTEM
FIGURE 25 MICRO-INVERTER MARKET ECOSYSTEM
5.5 TECHNOLOGY ANALYSIS
5.6 CASE STUDY ANALYSIS
5.6.1 ENPHASE INSTALLED 7X M250 MICRO-INVERTERS AND 1X ENVOY-R FOR RESIDENTIAL END USERS AS ENVIRONMENTALLY FRIENDLY SOLAR INVESTMENT
5.6.2 ENPHASE INSTALLED M215 MICRO-INVERTERS FOR FAT WEST MEATS (US) COMMERCIAL PROJECT, PROVING THEM BETTER THAN DC OPTIMIZERS
5.7 PATENT ANALYSIS
TABLE 7 PATENTS IN MICRO-INVERTER MARKET
5.8 PRICING ANALYSIS
5.9 MARKET REGULATIONS
6 MICRO-INVERTER MARKET, BY OFFERING (Page No. - 63)
6.1 INTRODUCTION
FIGURE 26 MICRO-INVERTER MARKET, BY OFFERING
FIGURE 27 SOFTWARE & SERVICES SEGMENT TO EXHIBIT HIGHER CAGR IN MICRO-INVERTER MARKET, BY OFFERING, FROM 2020 TO 2025
TABLE 8 MICRO-INVERTER MARKET, BY OFFERING, 20162019 (USD MILLION)
TABLE 9 MICRO-INVERTER MARKET, BY OFFERING, 20202025 (USD MILLION)
6.2 HARDWARE
6.2.1 HARDWARE COMPONENTS ARE CORE ELEMENTS OF MICRO-INVERTER SYSTEMS
6.3 SOFTWARE & SERVICES
6.3.1 SOFTWARE
6.3.1.1 System monitoring and data analysis are critical functions of software products
6.3.2 SERVICES
6.3.2.1 Installation and maintenance services are crucial for micro-inverter systems
7 MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY (Page No. - 67)
7.1 INTRODUCTION
FIGURE 28 MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY
FIGURE 29 WIRELESS COMMUNICATION TECHNOLOGY TO EXHIBIT HIGHER CAGR IN MICRO-INVERTER MARKET FROM 2020 TO 2025
TABLE 10 MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY, 20162019 (USD MILLION)
TABLE 11 MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY, 20202025 (USD MILLION)
7.2 WIRED
7.2.1 WIRED COMMUNICATION TECHNOLOGY IS PREFERRED FOR MICRO-INVERTERS
TABLE 12 MICRO-INVERTER MARKET FOR WIRED COMMUNICATION TECHNOLOGY, BY APPLICATION, 20162019 (USD MILLION)
TABLE 13 MICRO-INVERTER MARKET FOR WIRED COMMUNICATION TECHNOLOGY, BY APPLICATION, 20202025 (USD MILLION)
7.3 WIRELESS
7.3.1 WIRELESS COMMUNICATION TECHNOLOGY HAS HIGHER GROWTH PROSPECTS IN NEAR FUTURE
TABLE 14 MICRO-INVERTER MARKET FOR WIRELESS COMMUNICATION TECHNOLOGY, BY APPLICATION, 20162019 (USD MILLION)
FIGURE 30 RESIDENTIAL APPLICATION TO CONTINUE TO DOMINATE MARKET FOR WIRELESS COMMUNICATION TECHNOLOGY-BASED MICRO-INVERTERS DURING FORECAST PERIOD
TABLE 15 MICRO-INVERTER MARKET FOR WIRELESS COMMUNICATION TECHNOLOGY, BY APPLICATION, 20202025 (USD MILLION)
8 MICRO-INVERTER MARKET, BY TYPE (Page No. - 73)
8.1 INTRODUCTION
FIGURE 31 MICRO-INVERTER MARKET, BY TYPE
FIGURE 32 MARKET FOR SINGLE-PHASE MICRO-INVERTERS TO GROW AT HIGHER CAGR FROM 2020 TO 2025
TABLE 16 MICRO-INVERTER MARKET, BY TYPE, 20162019 (USD MILLION)
TABLE 17 MICRO-INVERTER MARKET, BY TYPE, 20202025 (USD MILLION)
8.2 SINGLE PHASE
8.2.1 SINGLE-PHASE INVERTERS PRIMARILY DEPLOYED IN RESIDENTIAL APPLICATIONS
TABLE 18 SINGLE-PHASE MICRO-INVERTER MARKET, BY APPLICATION, 20162019 (USD MILLION)
TABLE 19 SINGLE-PHASE MICRO-INVERTER MARKET, BY APPLICATION, 20202025 (USD MILLION)
8.3 THREE PHASE
8.3.1 PV PLANTS AND COMMERCIAL END USERS ESSENTIALLY EMPLOY THREE-PHASE MICRO-INVERTERS
TABLE 20 THREE-PHASE MICRO-INVERTER MARKET, BY APPLICATION, 20162019 (USD MILLION)
TABLE 21 THREE-PHASE MICRO-INVERTER MARKET, BY APPLICATION, 20202025 (USD MILLION)
9 MICRO-INVERTER MARKET, BY POWER RATING (Page No. - 78)
9.1 INTRODUCTION
FIGURE 33 MICRO-INVERTER MARKET, BY POWER RATING
FIGURE 34 BETWEEN 250 AND 500 W SEGMENT TO EXHIBIT HIGHEST CAGR FROM 2020 TO 2025
TABLE 22 MICRO-INVERTER MARKET, BY POWER RATING, 20162019 (USD MILLION)
TABLE 23 MICRO-INVERTER MARKET, BY POWER RATING, 20202025 (USD MILLION)
9.2 BELOW 250 W
9.2.1 BELOW 250-WATT MICRO-INVERTERS ARE IDEAL FOR SOLAR PANELS INSTALLED IN RESIDENTIAL APPLICATIONS
9.3 BETWEEN 250 AND 500 W
9.3.1 MICRO INVERTERS WITH POWER RATING RANGING FROM 250 TO 500 WATTS WOULD LEAD MARKET DURING FORECAST PERIOD
9.4 ABOVE 500 W
9.4.1 MICRO INVERTERS WITH POWER RATING OF ABOVE 500 WATTS ARE ADOPTED TO FULFIL ENERGY GENERATION REQUIREMENTS OF LARGE PV SYSTEMS
10 MICRO-INVERTER MARKET, BY CONNECTION TYPE (Page No. - 82)
10.1 INTRODUCTION
FIGURE 35 MICRO-INVERTER MARKET, BY CONNECTION TYPE
FIGURE 36 GRID-TIED MICRO-INVERTERS WOULD DOMINATE MARKET DURING FORECAST PERIOD
TABLE 24 MICRO-INVERTER MARKET, BY CONNECTION TYPE, 20162019 (USD MILLION)
TABLE 25 MICRO-INVERTER MARKET, BY CONNECTION TYPE, 20202025 (USD MILLION)
10.2 STAND-ALONE
10.2.1 STAND-ALONE SOLAR SYSTEMS ARE MORE ECONOMICAL
10.3 GRID-TIED
10.3.1 GRID-TIED MICRO-INVERTERS ARE LIKELY TO DOMINATE MARKET IN COMING YEARS
11 MICRO-INVERTER MARKET, BY SALES CHANNEL (Page No. - 85)
11.1 INTRODUCTION
FIGURE 37 MICRO-INVERTER MARKET, BY SALES CHANNEL
FIGURE 38 INDIRECT SALES CHANNELS TO GROW AT HIGHER CAGR FROM 2020 TO 2025
TABLE 26 MICRO-INVERTER MARKET, BY SALES CHANNEL, 20162019 (USD MILLION)
TABLE 27 MICRO-INVERTER MARKET, BY SALES CHANNEL, 20202025 (USD MILLION)
11.2 DIRECT
11.2.1 DIRECT SALES CHANNELS ARE PREFERRED BY COMPANIES HAVING LIMITED DISTRIBUTION NETWORKS
TABLE 28 MICRO-INVERTER MARKET FOR DIRECT SALES CHANNELS, BY APPLICATION, 20162019 (USD MILLION)
TABLE 29 MICRO-INVERTER MARKET FOR DIRECT SALES CHANNELS, BY APPLICATION, 20202025 (USD MILLION)
11.3 INDIRECT
11.3.1 THIRD-PARTY PROVIDERS ARE PREFERRED FOR PROCUREMENT OF MICRO-INVERTERS
TABLE 30 MICRO-INVERTER MARKET FOR INDIRECT SALES CHANNELS, BY APPLICATION, 20162019 (USD MILLION)
TABLE 31 MICRO-INVERTER MARKET FOR INDIRECT SALES CHANNELS, BY APPLICATION, 20202025 (USD MILLION)
12 MICRO-INVERTER MARKET, BY APPLICATION (Page No. - 90)
12.1 INTRODUCTION
FIGURE 39 MICRO-INVERTER MARKET, BY APPLICATION
FIGURE 40 RESIDENTIAL APPLICATION TO DOMINATE MICRO-INVERTER MARKET DURING FORECAST PERIOD
TABLE 32 MICRO-INVERTER MARKET, BY APPLICATION, 20162019 (USD MILLION)
TABLE 33 MICRO-INVERTER MARKET, BY APPLICATION, 20202025 (USD MILLION)
12.2 RESIDENTIAL
12.2.1 MICRO-INVERTERS PRIMARILY DEPLOYED FOR RESIDENTIAL APPLICATIONS
TABLE 34 MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS, BY TYPE, 20162019 (USD MILLION)
TABLE 35 MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS, BY TYPE, 20202025 (USD MILLION)
TABLE 36 MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS, BY CONNECTION TYPE, 20162019 (USD MILLION)
TABLE 37 MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS, BY CONNECTION TYPE, 20202025 (USD MILLION)
TABLE 38 MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS, BY POWER RATING, 20162019 (USD MILLION)
TABLE 39 MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS, BY POWER RATING, 20202025 (USD MILLION)
TABLE 40 MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS, BY COMMUNICATION TECHNOLOGY, 20162019 (USD MILLION)
TABLE 41 MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS, BY COMMUNICATION TECHNOLOGY, 20202025 (USD MILLION)
TABLE 42 MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS, BY SALES CHANNEL, 20162019 (USD MILLION)
TABLE 43 MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS, BY SALES CHANNEL, 20202025 (USD MILLION)
FIGURE 41 NORTH AMERICA TO DOMINATE MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS DURING FORECAST PERIOD
TABLE 44 MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS, BY REGION, 20162019 (USD MILLION)
TABLE 45 MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS, BY REGION, 20202025 (USD MILLION)
TABLE 46 MICRO-INVERTER MARKET IN NORTH AMERICA FOR RESIDENTIAL APPLICATIONS, BY COUNTRY, 20162019 (USD MILLION)
TABLE 47 MICRO-INVERTER MARKET IN NORTH AMERICA FOR RESIDENTIAL APPLICATIONS, BY COUNTRY, 20202025 (USD MILLION)
TABLE 48 MICRO-INVERTER MARKET IN EUROPE FOR RESIDENTIAL APPLICATIONS, BY COUNTRY, 20162019 (USD MILLION)
TABLE 49 MICRO-INVERTER MARKET IN EUROPE FOR RESIDENTIAL APPLICATIONS, BY COUNTRY, 20202025 (USD MILLION)
TABLE 50 MICRO-INVERTER MARKET IN APAC FOR RESIDENTIAL APPLICATIONS, BY COUNTRY, 20162019 (USD MILLION)
TABLE 51 MICRO-INVERTER MARKET IN APAC FOR RESIDENTIAL APPLICATIONS, BY COUNTRY, 20202025 (USD MILLION)
TABLE 52 MICRO-INVERTER MARKET IN ROW FOR RESIDENTIAL APPLICATIONS, BY REGION, 20162019 (USD MILLION)
TABLE 53 MICRO-INVERTER MARKET IN ROW FOR RESIDENTIAL APPLICATIONS, BY REGION, 20202025 (USD MILLION)
12.3 COMMERCIAL
12.3.1 COVID-19 TO ADVERSELY IMPACT COMMERCIAL SECTOR USING MICRO-INVERTERS
FIGURE 42 SINGLE-PHASE MICRO-INVERTERS TO DOMINATE MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS DURING FORECAST PERIOD
TABLE 54 MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS, BY TYPE, 20162019 (USD MILLION)
TABLE 55 MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS, BY TYPE, 20202025 (USD MILLION)
TABLE 56 MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS, BY CONNECTION TYPE, 20162019 (USD MILLION)
TABLE 57 MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS, BY CONNECTION TYPE, 20202025 (USD MILLION)
TABLE 58 MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS, BY POWER RATING, 20162019 (USD MILLION)
TABLE 59 MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS, BY POWER RATING, 20202025 (USD MILLION)
TABLE 60 MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS, BY COMMUNICATION TECHNOLOGY, 20162019 (USD MILLION)
TABLE 61 MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS, BY COMMUNICATION TECHNOLOGY, 20202025 (USD MILLION)
TABLE 62 MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS, BY SALES CHANNEL, 20162019 (USD MILLION)
TABLE 63 MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS, BY SALES CHANNEL, 20202025 (USD MILLION)
TABLE 64 MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS, BY REGION, 20162019 (USD MILLION)
TABLE 65 MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS, BY REGION, 20202025 (USD MILLION)
TABLE 66 MICRO-INVERTER MARKET IN NORTH AMERICA FOR COMMERCIAL APPLICATIONS, BY COUNTRY, 20162019 (USD MILLION)
TABLE 67 MICRO-INVERTER MARKET IN NORTH AMERICA FOR COMMERCIAL APPLICATIONS, BY COUNTRY, 20202025 (USD MILLION)
TABLE 68 MICRO-INVERTER MARKET IN EUROPE FOR COMMERCIAL APPLICATIONS, BY COUNTRY, 20162019 (USD MILLION)
TABLE 69 MICRO-INVERTER MARKET IN EUROPE FOR COMMERCIAL APPLICATIONS, BY COUNTRY, 20202025 (USD MILLION)
TABLE 70 MICRO-INVERTER MARKET IN APAC FOR COMMERCIAL APPLICATIONS, BY COUNTRY, 20162019 (USD MILLION)
TABLE 71 MICRO-INVERTER MARKET IN APAC FOR COMMERCIAL APPLICATIONS, BY COUNTRY, 20202025 (USD MILLION)
TABLE 72 MICRO-INVERTER MARKET IN ROW FOR COMMERCIAL APPLICATIONS, BY REGION, 20162019 (USD MILLION)
TABLE 73 MICRO-INVERTER MARKET IN ROW FOR COMMERCIAL APPLICATIONS, BY REGION, 20202025 (USD MILLION)
12.4 PV POWER PLANT
12.4.1 INCREASING NUMBER OF GLOBAL PV INSTALLATIONS TO PROPEL MARKET GROWTH
FIGURE 43 GRID-TIED SYSTEMS TO HOLD LARGER SIZE OF MICRO-INVERTER MARKET FOR PV POWER PLANTS DURING FORECAST PERIOD
TABLE 74 MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS, BY TYPE, 20162019 (USD MILLION)
TABLE 75 MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS, BY TYPE, 20202025 (USD MILLION)
TABLE 76 MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS, BY CONNECTION TYPE, 20162019 (USD MILLION)
TABLE 77 MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS, BY CONNECTION TYPE, 20202025 (USD MILLION)
TABLE 78 MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS, BY POWER RATING, 20162019 (USD MILLION)
TABLE 79 MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS, BY POWER RATING, 20202025 (USD MILLION)
TABLE 80 MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS, BY COMMUNICATION TECHNOLOGY, 20162019 (USD MILLION)
TABLE 81 MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS, BY COMMUNICATION TECHNOLOGY, 20202025 (USD MILLION)
TABLE 82 MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS, BY SALES CHANNEL, 20162019 (USD MILLION)
TABLE 83 MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS, BY SALES CHANNEL, 20202025 (USD MILLION)
TABLE 84 MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS, BY REGION, 20162019 (USD MILLION)
TABLE 85 MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS, BY REGION, 20202025 (USD MILLION)
TABLE 86 MICRO-INVERTER MARKET IN NORTH AMERICA FOR PV POWER PLANT APPLICATIONS, BY COUNTRY, 20162019 (USD MILLION)
TABLE 87 MICRO-INVERTER MARKET IN NORTH AMERICA FOR PV POWER PLANT APPLICATIONS, BY COUNTRY, 20202025 (USD MILLION)
TABLE 88 MICRO-INVERTER MARKET IN EUROPE FOR PV POWER PLANT APPLICATIONS, BY COUNTRY, 20162019 (USD MILLION)
TABLE 89 MICRO-INVERTER MARKET IN EUROPE FOR PV POWER PLANT APPLICATIONS, BY COUNTRY, 20202025 (USD MILLION)
TABLE 90 MICRO-INVERTER MARKET IN APAC FOR PV POWER PLANT APPLICATIONS, BY COUNTRY, 20162019 (USD MILLION)
TABLE 91 MICRO-INVERTER MARKET IN APAC FOR PV POWER PLANT APPLICATIONS, BY COUNTRY, 20202025 (USD MILLION)
TABLE 92 MICRO-INVERTER MARKET IN ROW FOR PV POWER PLANT APPLICATIONS, BY REGION, 20162019 (USD MILLION)
TABLE 93 MICRO-INVERTER MARKET IN ROW FOR PV POWER PLANT APPLICATIONS, BY REGION, 20202025 (USD MILLION)
13 GEOGRAPHIC ANALYSIS (Page No. - 114)
13.1 INTRODUCTION
FIGURE 44 GEOGRAPHIC SNAPSHOT: MICRO-INVERTER MARKET IN INDIA TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
TABLE 94 MICRO-INVERTER MARKET, BY REGION, 20162019 (USD MILLION)
TABLE 95 MICRO-INVERTER MARKET, BY REGION, 20202025 (USD MILLION)
13.2 NORTH AMERICA
FIGURE 45 NORTH AMERICA: SNAPSHOT OF MICRO-INVERTER MARKET
FIGURE 46 MICRO-INVERTER MARKET: PRE- AND POST-COVID-19 SCENARIOS IN NORTH AMERICA
TABLE 96 MICRO-INVERTER MARKET: PRE- AND POST-COVID-19 SCENARIOS IN NORTH AMERICA, 20162025 (USD MILLION)
TABLE 97 MICRO-INVERTER MARKET IN NORTH AMERICA, BY COUNTRY, 20162019 (USD MILLION)
TABLE 98 MICRO-INVERTER MARKET IN NORTH AMERICA, BY COUNTRY, 20202025 (USD MILLION)
TABLE 99 MICRO-INVERTER MARKET IN NORTH AMERICA, BY APPLICATION, 20162019 (USD MILLION)
TABLE 100 MICRO-INVERTER MARKET IN NORTH AMERICA, BY APPLICATION, 20202025 (USD MILLION)
13.2.1 US
13.2.1.1 Market in US to be adversely impacted by COVID-19
TABLE 101 MICRO-INVERTER MARKET IN US, BY APPLICATION, 20162019 (USD MILLION)
TABLE 102 MICRO-INVERTER MARKET IN US, BY APPLICATION, 20202025 (USD MILLION)
13.2.2 CANADA
13.2.2.1 Micro-FiT program to support PV installations would contribute to market growth in Canada
TABLE 103 MICRO-INVERTER MARKET IN CANADA, BY APPLICATION, 20162019 (USD MILLION)
TABLE 104 MICRO-INVERTER MARKET IN CANADA, BY APPLICATION, 20202025 (USD MILLION)
13.2.3 MEXICO
13.2.3.1 Clean energy reforms to fuel market growth in Mexico
TABLE 105 MICRO-INVERTER MARKET IN MEXICO, BY APPLICATION, 20162019 (USD MILLION)
TABLE 106 MICRO-INVERTER MARKET IN MEXICO, BY APPLICATION, 20202025 (USD MILLION)
13.3 EUROPE
FIGURE 47 EUROPE: SNAPSHOT OF MICRO-INVERTER MARKET
TABLE 107 MICRO-INVERTER MARKET IN EUROPE, BY COUNTRY, 20162019 (USD MILLION)
TABLE 108 MICRO-INVERTER MARKET IN EUROPE, BY COUNTRY, 20202025 (USD MILLION)
TABLE 109 MICRO-INVERTER MARKET IN EUROPE, BY APPLICATION, 20162019 (USD MILLION)
TABLE 110 MICRO-INVERTER MARKET IN EUROPE, BY APPLICATION, 20202025 (USD MILLION)
13.3.1 GERMANY
13.3.1.1 Germany to emerge as largest micro-inverter market in Europe during forecast period
TABLE 111 MICRO-INVERTER MARKET IN GERMANY, BY APPLICATION, 20162019 (USD MILLION)
TABLE 112 MICRO-INVERTER MARKET IN GERMANY, BY APPLICATION, 20202025 (USD MILLION)
13.3.2 UK
13.3.2.1 Encouragement by UK government to promote use of new energy technologies to fuel market growth
TABLE 113 MICRO-INVERTER MARKET IN UK, BY APPLICATION, 20162019 (USD MILLION)
TABLE 114 MICRO-INVERTER MARKET IN UK, BY APPLICATION, 20202025 (USD MILLION)
13.3.3 FRANCE
13.3.3.1 Increased adoption of automation technologies in various industries to fuel growth of market in France
TABLE 115 MICRO-INVERTER MARKET IN FRANCE, BY APPLICATION, 20162019 (USD MILLION)
TABLE 116 MICRO-INVERTER MARKET IN FRANCE, BY APPLICATION, 20202025 (USD MILLION)
13.3.4 NETHERLANDS
13.3.4.1 Residential and commercial applications contribute significantly to market growth in Netherlands
TABLE 117 MICRO-INVERTER MARKET IN NETHERLANDS, BY APPLICATION, 20162019 (USD MILLION)
TABLE 118 MICRO-INVERTER MARKET IN NETHERLANDS, BY APPLICATION, 20202025 (USD MILLION)
13.3.5 REST OF EUROPE
TABLE 119 MICRO-INVERTER MARKET IN REST OF EUROPE, BY APPLICATION, 20162019 (USD MILLION)
TABLE 120 MICRO-INVERTER MARKET IN REST OF EUROPE, BY APPLICATION, 20202025 (USD MILLION)
13.4 APAC
FIGURE 48 APAC: SNAPSHOT OF MICRO-INVERTER MARKET
FIGURE 49 MICRO-INVERTER MARKET: PRE- AND POST-COVID-19 SCENARIOS IN APAC
TABLE 121 MICRO-INVERTER MARKET: PRE- AND POST-COVID-19 SCENARIOS IN APAC, 20202025 (USD MILLION)
TABLE 122 MICRO-INVERTER MARKET IN APAC, BY COUNTRY, 20162019 (USD MILLION)
TABLE 123 MICRO-INVERTER MARKET IN APAC, BY COUNTRY, 20202025 (USD MILLION)
TABLE 124 MICRO-INVERTER MARKET IN APAC, BY APPLICATION, 20162019 (USD MILLION)
TABLE 125 MICRO-INVERTER MARKET IN APAC, BY APPLICATION, 20202025 (USD MILLION)
13.4.1 CHINA
13.4.1.1 Market growth in china anticipated to be negatively impacted by COVID-19 outbreak
TABLE 126 MICRO-INVERTER MARKET IN CHINA, BY APPLICATION, 20162019 (USD MILLION)
TABLE 127 MICRO-INVERTER MARKET IN CHINA, BY APPLICATION, 20202025 (USD MILLION)
13.4.2 JAPAN
13.4.2.1 Establishment of floating power plants in Japan to support micro-inverter market growth
TABLE 128 MICRO-INVERTER MARKET IN JAPAN, BY APPLICATION, 20162019 (USD MILLION)
TABLE 129 MICRO-INVERTER MARKET IN JAPAN, BY APPLICATION, 20202025 (USD MILLION)
13.4.3 INDIA
13.4.3.1 Growth of market in India expected to be hampered by rapid spread of coronavirus
TABLE 130 MICRO-INVERTER MARKET IN INDIA, BY APPLICATION, 20162019 (USD MILLION)
TABLE 131 MICRO-INVERTER MARKET IN INDIA, BY APPLICATION, 20202025 (USD MILLION)
13.4.4 AUSTRALIA
13.4.4.1 Heightened demand from residential applications to support growth of micro-inverter market in Australia
TABLE 132 MICRO-INVERTER MARKET IN AUSTRALIA, BY APPLICATION, 20162019 (USD MILLION)
TABLE 133 MICRO-INVERTER MARKET IN AUSTRALIA, BY APPLICATION, 20202025 (USD MILLION)
13.4.5 REST OF APAC
TABLE 134 MICRO-INVERTER MARKET IN REST OF APAC, BY APPLICATION, 20162019 (USD MILLION)
TABLE 135 MICRO-INVERTER MARKET IN REST OF APAC, BY APPLICATION, 20202025 (USD MILLION)
13.5 ROW
TABLE 136 MICRO-INVERTER MARKET IN ROW, BY REGION, 20162019 (USD MILLION)
TABLE 137 MICRO-INVERTER MARKET IN ROW, BY REGION, 20202025 (USD MILLION)
TABLE 138 MICRO-INVERTER MARKET IN ROW, BY APPLICATION, 20162019 (USD MILLION)
TABLE 139 MICRO-INVERTER MARKET IN ROW, BY APPLICATION, 20202025 (USD MILLION)
13.5.1 MIDDLE EAST & AFRICA
13.5.1.1 Rise in number of solar PV projects to unfold new growth opportunities in Middle Easter & African market
TABLE 140 MICRO-INVERTER MARKET IN MIDDLE EAST & AFRICA, BY APPLICATION, 20162019 (USD MILLION)
TABLE 141 MICRO-INVERTER MARKET IN MIDDLE EAST & AFRICA, BY APPLICATION, 20202025 (USD MILLION)
13.5.2 SOUTH AMERICA
13.5.2.1 Increased solar power generation in Brazil and Argentina to significantly contribute to market growth in South America
TABLE 142 MICRO-INVERTER MARKET IN SOUTH AMERICA, BY APPLICATION, 20162019 (USD MILLION)
TABLE 143 MICRO-INVERTER MARKET IN SOUTH AMERICA, BY APPLICATION, 202020125 (USD MILLION)
14 COMPETITIVE LANDSCAPE (Page No. - 143)
14.1 OVERVIEW
14.2 MARKET SHARE ANALYSIS, 2019
FIGURE 50 MICRO-INVERTER MARKET: MARKET SHARE ANALYSIS (2019)
14.3 COMPANY EVALUATION MATRIX, 2019
14.3.1 STAR
14.3.2 PERVASIVE
14.3.3 EMERGING LEADER
14.3.4 PARTICIPANT
FIGURE 51 MICRO-INVERTER MARKET (GLOBAL) COMPANY EVALUATION MATRIX, 2019
14.4 COMPETITIVE SITUATIONS AND TRENDS
14.4.1 PRODUCT DEVELOPMENTS
14.4.2 AGREEMENTS, COLLABORATIONS, AND PARTNERSHIPS
15 COMPANY PROFILES (Page No. - 148)
15.1 KEY PLAYERS
(Business overview, Products offered, Recent developments, SWOT analysis, MNM view)*
15.1.1 ENPHASE ENERGY
FIGURE 52 ENPHASE ENERGY: COMPANY SNAPSHOT
15.1.2 DARFON ELECTRONICS
FIGURE 53 DARFON ELECTRONICS: COMPANY SNAPSHOT
15.1.3 ALTENERGY POWER SYSTEM
15.1.4 RENESOLA
FIGURE 54 RENESOLA: COMPANY SNAPSHOT
15.1.5 CHILICON POWER
15.1.6 AECONVERSION
15.1.7 ENVERTECH
15.1.8 SENSATA TECHNOLOGIES
FIGURE 55 SENSATA TECHNOLOGIES: COMPANY SNAPSHOT
15.1.9 NORTHERN ELECTRIC & POWER
15.1.10 SPARQ SYSTEMS
*Business overview, Products offered, Recent developments, SWOT analysis, MNM view might not be captured in case of unlisted companies.
15.2 RIGHT-TO-WIN
15.3 OTHER PLAYERS
15.3.1 SARONIC (EU) POWER TECH
15.3.2 ENLUXSOLAR
15.3.3 U R ENERGY
15.3.4 BRAVO SOLAR
15.3.5 GRACE RENEWABLE ENERGY
15.3.6 SOLAR PANELS PLUS
15.3.7 ZHEJIANG SANDI ELECTRIC
15.3.8 STMICROELECTRONICS
15.3.9 TEXAS INSTRUMENTS
15.3.10 JINKOSOLAR
16 APPENDIX (Page No. - 172)
16.1 INSIGHTS OF INDUSTRY EXPERTS
16.2 DISCUSSION GUIDE
16.3 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
16.4 AVAILABLE CUSTOMIZATIONS
16.5 RELATED REPORTS
16.6 AUTHOR DETAILS
The study involves four major activities for estimating the size of the micro-inverter market. Exhaustive secondary research has been conducted to collect information related to the market. The next step has been the validation of these findings, assumptions, and sizing with the industry experts across the value chain through primary research. Both top-down and bottom-up approaches have been employed to estimate the overall size of the micro-inverter market. After that, market breakdown and data triangulation procedures have been used to determine the extent of different segments and subsegments of the market.
Secondary Research
Secondary sources referred to in this research study include corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers, certified publications, articles from recognized authors; directories; and databases. The secondary data has been collected and analyzed to arrive at the overall market size estimations, which has been further validated by primary research.
Primary Research
In the primary research process, a number of primary sources from both supply and demand sides have been interviewed to obtain the qualitative and quantitative information pertaining to this report. Several primary interviews have been conducted with market experts from both demand and supply sides (micro-inverter manufacturers and distributors). This primary data has been collected through questionnaires, emails, and telephonic interviews. Approximately 20% of the primary interviews have been conducted with the demand side and 80% with the supply side. This primary data has been collected mainly through telephonic interviews, which accounted for 80% of the total primary interviews. Additionally, questionnaires and emails were used to collect the data.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
In the complete market engineering process, both top-down and bottom-up approaches have been implemented, along with several data triangulation methods, to estimate and validate the size of the micro-inverter market and other dependent submarkets listed in this report.
- The key players in the industry and markets have been identified through extensive secondary research.
- Both the supply chain of the industry and the market size, in terms of value and volume, have been determined through primary and secondary research.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size, the total market has been split into several segments. To complete the overall market engineering process and arrive at exact statistics for all segments, the market breakdown and data triangulation procedures have been employed wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. The market has also been validated using both top-down and bottom-up approaches.
Study Objectives:
- To describe and forecast the micro-inverter market, in terms of value, by type, offering, communication technology, sales channel, application, connection type, power rating
- To forecast the global micro-inverter market in terms of number of installations (GW)
- To describe and forecast the micro-inverter market, in terms of value, for various segments with respect to 4 main regionsNorth America, Europe, Asia Pacific (APAC), and Rest of the World (RoW), along with their respective countries
- To provide detailed information regarding major factors, namely, drivers, restraints, opportunities, and challenges influencing the growth of the micro-inverter market
- To study and analyze the influence of COVID-19 on the micro-inverter market during the forecast period
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
- To study the complete value chain of the micro-inverter ecosystem, along with market trends and use cases
- To analyze opportunities in the market for various stakeholders by identifying high-growth segments of the micro-inverter ecosystem
- To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies2, along with detailing the competitive landscape for market leaders
- To benchmark market players using competitive leadership mapping, which analyzes players based on various parameters within the broad business categories and product strategies
- To analyze strategic approaches such as product developments, collaborations, agreements, and partnerships in the micro-inverter market
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to the company's specific needs. The following customization options are available for this report:
- Company Information: Detailed analysis and profiling of additional five market players
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Micro-inverter Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
Growth opportunities and latent adjacency in Micro-inverter Market