Dublin, March 01, 2019 (GLOBE NEWSWIRE) -- The "Global Solar Micro Inverters Market By Connectivity (Standalone and On-grid), By Application (Utility, Residential and Commercial), By Region, By Company, Competition, Forecast & Opportunities, 2024" report has been added to ResearchAndMarkets.com's offering.
The Global solar micro inverters market is projected to grow at a CAGR of over 10% to reach $886 million by 2024, owing to persistent advances in R&D of solar micro inverters and substantial reduction in costs of micro inverters.
With declining solar micro inverter prices and rising awareness towards the advantages of module-level power electronics (MLPE) technology, solar micro inverters are gaining traction across different end user segments. Moreover, high modularity and compact size of solar micro inverters make them ideal for residential applications, a major factor boosting the popularity of solar micro inverters at the global level. Additionally, government initiatives driving the adoption of PV installations are expected to further push the demand for solar micro inverters in coming years.
In terms of application, the global solar micro inverters market has been categorized into utility, residential and commercial. The residential sector accounted for majority of the global market in 2018 and is expected to witness a healthy growth rate during the forecast period. Expected market dominance of the residential sector can be majorly attributed to increasing adoption of energy conservation measures for controlling the increased energy expenditure in residential applications. Over the coming years, commercial sector is also anticipated to account for a significant portion of the global solar inverters market.
North America emerged as the largest consumer of solar micro inverters across the globe in 2018, owing to growing demand for power and increasing installation of solar energy systems in the region. Among the North American countries, the largest market for solar micro inverters is the US.
Furthermore, solar micro inverters market is expected to gain traction in the Asia-Pacific region, especially in countries like India and Australia. Growth of the solar micro inverters market in the region is anticipated to be majority driven by burgeoning demand for power supply, favorable government policies and soaring fuel prices.
Among the countries in the Asia-Pacific region, the Indian market for solar invertors is expected to capture a prominent position. Rising awareness about the advantages of micro inverters and widespread adoption of sustainable sources of energy for agriculture are anticipated to fuel solar micro inverters demand across the country.
The Global solar micro inverters market, which is dominated by major players, also boasts the presence of small-scale manufacturers. Few of the major companies operating in the global solar micro inverters market are Renesola, Enphase Energy Inc., APsystems, Darfon Electronics, Siemens, Chilicon Power LLC among others.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the Study:
- To analyze and forecast the global solar micro inverters market size in terms of value and volume.
- To forecast the global solar micro inverters market, based on connectivity, application and regional distribution.
- To identify drivers and challenges for the global solar micro inverters market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc. in the global solar micro inverters market.
- To conduct the pricing analysis for the global solar micro inverters market.
- To identify and analyze the profile of leading players operating in the global solar micro inverters market.
Topics Covered
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
4.1. Brand Awareness
4.2. Brand Recall
4.3. Brand Satisfaction
4.4. Factors Influencing Purchase Decision
4.5. Challenges/Issues Faced Post Purchase
4.6. Unmet Needs
5. Global Solar Micro Inverters Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Connectivity (Standalone, On-grid)
5.2.2. By Application (Utility, Residential, Commercial)
5.2.3. By Company
5.2.4. By Region
5.3. Market Attractiveness Index
6. Asia-Pacific Solar Micro Inverters Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Connectivity
6.2.2. By Application
6.2.3. By Country
6.3. Market Attractiveness Index
6.4. Asia-Pacific: Country Analysis
6.4.1. China Solar Micro Inverters Market Outlook
6.4.2. India Solar Micro Inverters Market Outlook
6.4.3. Japan Solar Micro Inverters Market Outlook
6.4.4. South Korea Solar Micro Inverters Market Outlook
6.4.5. Australia Solar Micro Inverters Market Outlook
6.4.6. Thailand Solar Micro Inverters Market Outlook
6.4.7. Malaysia Solar Micro Inverters Market Outlook
7. Europe Solar Micro Inverters Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Connectivity
7.2.2. By Application
7.2.3. By Country
7.3. Market Attractiveness Index
7.4. Europe: Country Analysis
7.4.1. France Solar Micro Inverters Market Outlook
7.4.2. Germany Solar Micro Inverters Market Outlook
7.4.3. United Kingdom Solar Micro Inverters Market Outlook
7.4.4. Italy Solar Micro Inverters Market Outlook
7.4.5. Spain Solar Micro Inverters Market Outlook
8. North America Solar Micro Inverters Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Connectivity
8.2.2. By Application
8.2.3. By Country
8.3. Market Attractiveness Index
8.4. North America: Country Analysis
8.4.1. United States Solar Micro Inverters Market Outlook
8.4.2. Mexico Solar Micro Inverters Market Outlook
8.4.3. Canada Solar Micro Inverters Market Outlook
9. South America Solar Micro Inverters Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Connectivity
9.2.2. By Application
9.2.3. By Country
9.3. Market Attractiveness Index
9.4. South America: Country Analysis
9.4.1. Brazil Solar Micro Inverters Market Outlook
9.4.2. Argentina Solar Micro Inverters Market Outlook
9.4.3. Chile Solar Micro Inverters Market Outlook
10. Middle East & Africa Solar Micro Inverters Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By Connectivity
10.2.2. By Application
10.2.3. By Country
10.3. Market Attractiveness Index
10.4. MEA: Country Analysis
10.4.1. South Africa Solar Micro Inverters Market Outlook
10.4.2. Saudi Arabia Solar Micro Inverters Market Outlook
10.4.3. UAE Solar Micro Inverters Market Outlook
10.4.4. Qatar Solar Micro Inverters Market Outlook
11. Pricing Analysis
12. Market Dynamics
12.1. Drivers
12.2. Challenges
13. Market Trends & Developments
14. Competitive Landscape
14.1. Competition Outlook
14.2. Company Profiles
14.2.1. Basic Details
14.2.2. Financials (As reported)
14.2.3. Supply Chain Analysis
14.2.4. Key Market Focus and Geographical Presence
14.2.5. Planned Investments
14.2.6. Pricing of Target Products
14.2.7. Market positioning
14.3. Global Players Profiled (Leading Companies)
15.3.1 Renesola
15.3.2 Enphase Energy Inc.
15.3.3 APsystems
15.3.4 Darfon Electronics
15.3.5 Siemens
15.3.6 AE Conversion GmbH & Company
15.3.7 Alencon Systems LLC
15.3.8 ABB
15.3.9 SunPower Corporation
15.3.10 Chilicon Power LLC
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