Microinverter Market Size, Share, Opportunities And Trends By Component (Hardware, Software, Services), By Application (Residential, Commercial, Utility) And Geography - Forecasts From 2023 To 2028
- Published : Mar 2023
- Report Code : KSI061611689
- Pages : 114
Offered with this report
Market Data and Estimates in Excel
2 Months of Post Sale Analyst Support
Requirement Specific Customization
The Microinverter market is projected to grow at a CAGR of 19.66% during the forecast period. Microinverter is a device that converts direct current (DC) generated by solar cells to alternating current (AC). The demand for these inverters is increasing in the commercial sector on account of increasing electricity costs and the 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 favorable 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 of 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
-
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Currency
1.5. Assumptions
1.6. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Force Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. MICROINVERTER MARKET BY COMPONENT
5.1. Hardware
5.2. Software
5.3. Services
6. MICROINVERTER MARKET BY APPLICATION
6.1. Residential
6.2. Commercial
6.3. Utility
7. MICROINVERTER MARKET BY GEOGRAPHY
7.1. North America
7.1.1. USA
7.1.2. Canada
7.1.3. Mexico
7.2. South America
7.2.1. Brazil
7.2.2. Argentina
7.2.3. Others
7.3. Europe
7.3.1. United Kingdom
7.3.2. Germany
7.3.3. France
7.3.4. Spain
7.3.5. Others
7.4. Middle East and Africa
7.4.1. Saudi Arabia
7.4.2. Israel
7.4.3. Others
7.5. Asia Pacific
7.5.1. China
7.5.2. Japan
7.5.3. Australia
7.5.4. India
7.5.5. Others
8. COMPETITIVE INTELLIGENCE
8.1. Company Benchmarking and Analysis
8.2. Recent Investment and Deals
8.3. Strategies of Key Players
9. COMPANY PROFILES
9.1. Enphase Energy, Inc.
9.2. Omnik New Energy Co., Ltd.
9.3. Texas Instruments Incorporated
9.4. Microchip Technology, Inc.
9.5. Altenergy Power System, Inc.
9.6. STMicroelectronics
9.7. Darfon Electronics Corporation
9.8. ReneSola
9.9. SMA Solar Technology AG
9.10. Siemens AG
LIST OF FIGURES
LIST OF TABLES
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
Siemens AG
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