Micro Inverter Market by Type (Single Phase, Three Phase and Others), By Connection (Stand-Alone,Grid-Connected), Industry Trends, Estimation & Forecast, 2016 - 2024

September 2017

 Pages: 125

 ERC 9620

Micro Inverter Market was valued at $635 million in 2016 and is projected to reach $4.33 billion by 2024, having a CAGR of 27.3% during the forecast period of 2017 to 2024.In 2016, the single phase micro inverter segment generated the highest revenue share in the global micro inverter market.

A basic inverter is a device which is intended to be used for conversion of DC voltage into AC voltage for the household usage. Similarly a micro inverter is miniature version of a usual inverter which is designed in such a manner that it could be used with required electrical devices which are small in size and complicated in design. Micro inverters are being highly used in solar panels in the current scenario. These micro inverters are sufficient enough of converting DC solar energy in to house hold grade AC electricity.

Market determinants

Inspired by the boom of energy conservation and high usage of renewable energy an increased demand of solar energy systems has been witnessed in the past two decades. People are rapidly shifting from the conventional energy to solar energy. As per a research, more than 1 million U.S. homes are having solar panels and are expected to grow rapidly in the near future. In addition to this, concerns regarding environment and depletion of conventional energy resources is also leading to the increased installation of solar power energy generation systems all over the globe. China, India, Japan and the U.S. are some of the countries which are expected to exhibit a rapid growth of solar panel installations in the near future, eventually boosting the growth of micro inverter market. In addition to this the high efficiency and expected decrement in the cost of micro inverters can also act as a major factor which is stimulating the growth of the very market. However, system failures due to low quality of micro inverters and complex maintenance might hamper the market growth. Moreover, high initial installation and replacement costs might also impede the market pace.

Micro Inverter Market  Determinants- Impact Analysis, 2018 vs. 2024

Market Segmentation

The Global Micro Inverter Market is categorized on the basis of type, connection, end user, and geography. By type, the market is segmented as single phase and three phase. On the basis of connection, the market is categorized as stand-alone and grid-connected micro inverters. On the basis of end-user the market is segmented as residential and commercial. Geographically, the market is bifurcated as North-America, Europe, Asia-Pacific and Rest of World. Out of major geographical regions, North American market generated the highest revenue in 2017 and is expected to lead the market throughout the forecast period.

Some major companies of the market are Enphase Energy, Inc., ABB Group, SunPower Corporation, SMA Solar Technology AG, Delta Energy Systems GmbH, SolarEdge Technologies Inc., ReneSola, Siemens AG, P&P Energy Technology Co., Limited, and Involar.

Micro-Inverter Market Segmentation

By Type
   • Single Phase
   • Three Phase

By Connection
   • Stand-Alone
   • Grid-Connected

By End User
   • Residential
   • Commercial

By Geography
   • North America
   • Europe
   • Asia-Pacific
   • Rest of World

Micro-Inverter Market Key Players

   • Enphase Energy, Inc.
   • ABB Group
   • SunPower Corporation
   • SMA Solar Technology AG
   • Delta Energy Systems GmbH
   • SolarEdge Technologies Inc.
   • ReneSola
   • Siemens AG
   • P&P Energy Technology Co.Limited
   • Involar

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    What Information does this report contain?

    • What was the market size of the Micro Inverter Market in 2016 and the expected market size by 2024, along with the growth rate?
    • An in-depth analysis of the current impacting factors, opportunities and challenges/restraints in the market
    • Which are the largest revenue generating products, services or regions, and their comparative growth rate?
    • Which technology is in trend and how would it evolve during the forecast period (2016 - 2024)?
    • Which are the leading companies in the Micro Inverter Market and their competitive positioning basis their market share, product portfolio, strategic attempts and business focus?

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