Micro-Inverter - Global Market Outlook (2017-2026)

According to Stratistics MRC, the Global Micro-Inverter market is accounted for $2.07 billion in 2017 and is expected to reach $10.95 billion by 2026 growing at a CAGR of 20.3% during the forecast period. Some of the key factors propelling the market growth are benefits over conventional solar inverter technologies, upsurge in renewable energy investment, demand for micro-inverters due to remote monitoring capabilities and rise in residential solar rooftop installations. However, Higher Initial and Maintenance Cost of Micro-Inverters are restraining factors for the Market.

A solar micro-inverter, or simply micro inverter, is a plug-and-play device used in photovoltaics, that converts direct current (DC) generated by a single solar module to alternating current (AC). Micro inverters contrast with conventional string and central solar inverters, in which a single inverter is connected to multiple solar panels. The output from several micro inverters can be combined and often fed to the electrical grid. Micro inverters have several advantages over conventional inverters. The main advantage is that they electrically isolate the panels from each other, so small amounts of shading, debris or snow lines on any one solar module, or even a complete module failure, do not disproportionately reduce the output of the entire array.

By Type, Single-Phase segment acquired significant growth because it enables the system to have a compact size, which is well suited for residential and commercial applications. Most of the micro-inverter manufacturers across the world offer single-phase systems. Also, as single-phase electricity transmission is well suited for residential applications, this is also one of the major markets for micro-inverters, witness high demand worldwide. For instance, in countries such as the US, Australia, and European countries, the residential segment operates on single-phase transmissions of electricity.

On the basis of geography, In Asia-Pacific, micro inverter market is expected to have the fastest growth in Japan during the forecast period. On a global scale, Japan is not the biggest market but it’s in the top three, with strong governmental support, and its huge solar energy industry. However, in spite of representing a major residential market potential, it has been facing limited micro inverter shipments. It is expected that the penetration rate of micro inverters into Japanese market would increase drastically to 7% of total installations by 2018. Another factor for catalyzing the market in Japan could be micro inverter suppliers obtaining Japan Electrical Safety & Environment Technology Laboratories (JET) certification.

Some of the key players in Micro-Inverter Market include ABB Group, AE conversion, Altenergy Power System, Chilicon Power, Darfon Electronics, Delta Energy Systems GmbH, Enluxsolar, Enphase Energy Inc, Involar, Omnik New Energy, P&P Energy Technology Co Ltd, ReneSola, Samil Power, Saronic (EU) Power Techm Sensata Technologies, Siemens AG, SMA Solar Technology AG, SolarEdge Technologies Inc, Sparq Systems, SunPower Corporation and U R Energy.

Components Covered:
• Hardware
• Services
• Software

Types Covered:
• Single-Phase
• Three-Phase

Connections Covered:
• Grid-Connected
• Stand-Alone

Technologies Covered:
• Wired
• Wireless

Sales Channels Covered:
• Direct
• Indirect

Applications Covered:
• Commercial
• Photo Voltaic (PV) Power Plant
• Residential 

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan       
  • China       
  • India       
  • Australia 
  • New Zealand     
  • South Korea      
  • Rest of Asia Pacific   
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country level segments
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the clients interest (Note: Depends of feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances