The latest report by IMARC Group, titled “Solar Microinverter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global solar microinverter market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global solar microinverter market reached a value of US$ 231 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 554 Million by 2027, exhibiting a CAGR of 15.5% during 2022-2027. A solar microinverter is an electronic device that converts direct current (DC) into alternating current (AC). It is primarily used in photovoltaic (PV) cells for altering the current waveform. It can maximize the power from solar panels and maintain a consistent flow of energy by utilizing the maximum power point tracking (MPPT) technology. In recent years, the demand for solar microinverter has increased as it is highly efficient compared to its conventional counterparts.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Solar Microinverter Market Trends:
The rising deployment of solar microgrids, and the escalating energy demand from commercial and industrial sectors represent the primary factors driving the global solar microinverter market. Additionally, a significant rise in residential rooftop solar installations and the increasing popularity of building-integrated photovoltaics (BIPV) are other growth-inducing factors. Furthermore, several initiatives undertaken by regional governments encouraging the use of renewable energy, along with a substantial reduction in product prices, have propelled the market growth. Other factors, including the growing environmental concerns, extensive research and development (R&D) activities, numerous product innovations and rapid urbanization, are also anticipated to provide a positive market outlook.
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Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- ABB Asea Brown Boveri Ltd
- Chilicon Power, LLC
- Enphase Energy Inc.
- Altenergy Power System Inc.
- SunPower Corporation
- Darfon Electronics Corporation
- Siemens AG
- Delta Energy Systems (Germany) GmbH
- Alencon Systems LLC
- ReneSola Ltd.
- Omnik New Energy Co. Ltd.
- EnluxSolar Co. Ltd.
- Sungrow Deutschland GmbH
- Sensata Technologies, Inc.
Breakup by Communication Channel:
Breakup by Type:
- Single Phase
- Three Phase
Breakup by Connectivity:
Breakup by Component:
Breakup by Application:
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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