What is Solar Micro Inverters Market?
Solar Micro Inverters is a device that converts Direct current into Alternating current. The combined output of multiple devices are fed into electric grid. As it allows conversion at panel level the small shading does not affect the performance. With the usage and awareness of renewable energy the demand for solar micro inverters are increasing. Due its longer lifespan it is more preferred than other products
Highlights from Solar Micro Inverters Market Study
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | ABB (Switzerland), I Energy Technologies Pvt Ltd (India), Sparq Systems (Canada), Cybo Energy (United States), SMA Solar Technology (Germany), Rene Sola (China), Chilicon Power (United States), Lead Solar (United States), Sun Power Corp. (United States) and Enphase Energy (United States) |
In this Market the Key Players are Dominating but There are New Entrants Who are Focusing to Provide Compact Devices with New Technology. Whereas the Major Players are Focusing Towards the Cost Reduction Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Solar Micro Inverters market throughout the forecasted period.
ABB (Switzerland), I Energy Technologies Pvt Ltd (India), Sparq Systems (Canada), Cybo Energy (United States), SMA Solar Technology (Germany), Rene Sola (China), Chilicon Power (United States), Lead Solar (United States), Sun Power Corp. (United States) and Enphase Energy (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are APS (United States) and Solar Edge Technologies (Israel). Solar Micro Inverters Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Residential, Commercial and Utility |
Type | Single Phase and Three Phase |
Distribution Channel | Retailer,Operator Channel,E-Commerce |
Connectivity | Standalone,On-Grid |
On the basis of geography, the market of Solar Micro Inverters 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Performance Integrated Modules are Being Developed and Adoption of Photovoltaic Due to the Government Initiatives
Market Growth Drivers:
Increasing Usage of Devices Depending on Electricity and Low Prices if Micro Inverter are Attracting the People Towards this Technology
Challenges:
Introduction of Power Optimizers is Affecting the Market Negatively and Other Components Required to Install the Micro Inverters
Restraints:
High Costs Associated with Installation if Solar Micro Inverters
Opportunities:
Spread of Awareness towards the Systems Operating on Solar Power and Rising Use of Solar Micro Inverters in the Commercial Sectors
Key Target Audience
Government Organisations, Research Organisations, Market Research and Consulting Companies, Manufacturers and Others
Market Leaders & Development Strategies
In 2018, ABB Announced that it has Completed its Acquisition of GE Industrial Solutions (Geis), GE’s Global Electrification Solutions Business on June 30, 2018. The Transaction was Announced on September 25, 2017, and is Expected to be Accretive to Operational Eps in the First Year.
In 2018, Sparq Systems Inc. is Pleased to Announce the Launch Of their Q1200 Microinverter, the Only Quad Microinverter on the Market Offering Low-Cost Power Conversion and Smart-Grid Capability at the Lowest Per-Watt Cost.