Category

Microinverter Market Size, Share, Opportunities And Trends By Component (Hardware, Software, Services), By Application (Residential, Commercial, Utility) And Geography - Forecasts From 2019 To 2024

Published: Mar 2020 | Report Code:  KSI061611689 | Pages:  114

The Microinverter market is projected to grow at a CAGR of 19.66% during the forecast period. Microinverter is a device which converts direct current (DC) generated by solar cells to alternating current (AC). The demand for these inverters is increasing amongst the commercial sector on account of increasing electricity cost and longer installation duration of string inverters. Increasing research and development expenditure coupled with improvement in collaboration activities to introduce state-of-the-art products in the market will further boost the demand for these inverters. Geographically, North America and Europe held a significant market share owing to the early adoption of technology, rising installation of rooftop solar panels and long-term cost-effectiveness. The Asia Pacific region will witness substantial growth throughout the forecast period on account of favourable government policies promoting the installation of solar panels across industry verticals.

DRIVERS

Rising energy costs

Rising R&D expenditure

RESTRAINTS

High installation cost

INDUSTRY UPDATE

In August 2018, APSystems announced to launch QS1, a four-module, single phase microinverter for residential applications.  

On August 9, 2018, Enphase Energy, Inc. completed the acquisition of SunPower’s microinverter business.

The major players profiled in the microinverter market include Enphase Energy, Inc., Omnik New Energy Co., Ltd., Texas Instruments Incorporated, Microchip Technology, Inc., Altenergy Power System, Inc., STMicroelectronics, Darfon Electronics Corporation, ReneSola, SMA Solar Technology AG, and Siemens AG.

Segmentation

The Microinverter Market has been analyzed through the following segments:

By Component

Hardware

Software

Services

 

By Application

Residential

Commercial

Utility

 

By Geography

North America

USA

Canada

Mexico

 

South America

Brazil

Argentina

Others

 

Europe

United Kingdom

Germany

France

Spain

Others

 

Middle East and Africa

Saudi Arabia

Israel

Others

 

Asia Pacific

China

Japan

Australia

India

Others

OUR CLIENTS