About MicroInverter
Microinverter is an electronic equipment used in a solar cell to convert alternating current into direct current. The benefits of a micro inverter over conventional one is that it isolates the different panels from one another. Micro inverters have been there since the advent of the solar industry, however, technical advancement and introduction of M175 model in early 21st century made it popular and it witnessed rapid rise in its installation since then. Even, now also, micro inverters are expensive than conventional inverters, and manufactures are focusing on reducing overall cost and increasing their efficiency. Introduction of the next-generation microinverter is expected to replace conventional converter in the solar industry.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global MicroInverter market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Enphase Energy (United States), Altenergy Power System (United States), Chilicon Power (United States), SunPower (China), Siemens (Germany), Envertech (China), ReneSola (United States), Darfon Electronics (China) and AEconversion (Germany) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global MicroInverter market by Type (Single Phase and Three Phase), Application (Residential, Commercial and Other (PV Power Plant)) and Region.
On the basis of geography, the market of MicroInverter has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Component Type, the sub-segment i.e. Hardware will boost the MicroInverter market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology Type, the sub-segment i.e. Wired will boost the MicroInverter market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Direct will boost the MicroInverter market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Growth in the Demand for Micro-Inverters due to Remote Monitoring Capabilities
Market Growth Drivers:
Upsurge in Renewable Energy Investment and Increasing Installation of Residential Solar Rooftop
Challenges:
High Competition from Conventional Inverter Technologies
Restraints:
High Installation and Maintenance Cost of Micro-Inverters
Opportunities:
Increase in Solar PV Installations and Technological Advancement with Improved Capabilities
Market Leaders and their expansionary development strategies
In July 2021, Generac has acquired Chilicon Power, a designer and provider of grid-interactive microinverter and monitoring solutions for the solar market. Generac now adds microinverters to its suite of offerings that includes energy storage systems, power optimzers, rapid shutdown devices and energy software.
In April 2024, Enphase Energy, Inc., a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, has launched IQ8P Microinverters, with peak output AC power of 480 W, in France and Spain to support newer, high-powered solar modules.
Key Target Audience
Micro-Inverter Manufacturers, Original Equipment Manufacturers (OEMs), Distributors, Traders and Wholesalers, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.