Micro inverter is an electronic device used in photovoltaic to transform direct current (DC) from solar modules into alternating current (AC). These inverters are normally installed on each solar panel separately, to convert the DC power into AC power at the source itself. Additionally, micro inverters are easy to install and have simpler operations compared to string inverters and central inverters. It also does optimal power production by performing maximum power point tracking for its connected module. Moreover, it offers several benefits over traditional inverters such as greater reliability, higher production, and improved safety.

At present, the world micro-inverter market is driven by its high reliability and efficient performance. As in micro inverter technology each inverter operates independently; thus, one sheltered or infected panel does not affect the entire system. Moreover, micro-inverters offer higher safety as compared to conventional inverter technologies. However, high installation cost is one of the key restraints to the market growth. Technological advancements in the field of solar cells to increase efficiency and rise in government spending in renewable energy projects are expected to provide growth opportunities for the market.

The market is segmented on the basis of type, connection, end user, and geography. The type segment is segmented into single- and three-phase micro-invertor. The connection segment is classified into stand-alone and grid-connected. On the basis of end user, it is classified into residential and commercial. Based on geography, it is analyzed across North America (U.S., Mexico, and Canada), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

Major companies profiled in the report include 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., Ltd. and Involar.

POTENTIAL BENEFITS FOR STAKEHOLDERS

Comprehensive analysis of the current trends and future estimations in the world micro inverter market is provided
The report provides a competitive scenario of the market with growth trends, structure, driving factors, scope, opportunities, and challenges
The report includes a comprehensive analysis of key segments to provide insights on the market dynamics
Porter's Five Forces analysis highlights the potential of buyers and suppliers as well as provides insights on the competitive structure of the market to devise effective growth strategies and facilitate better decision-making
Value chain analysis provides key inputs on the role of stakeholders involved at various stages

MARKET SEGMENTATION

The world micro inverter market is segmented on the basis of type, connection, end user, and geography.

BY TYPE

Single Phase
Three Phase

BY CONNECTION

Standalone
Grid-Connected

BY END USER

Residential
Commercial

BY GEOGRAPHY

North America
U.S.
Mexico
Canada
Europe
UK
Germany
France
Rest of the Europe
Asia-Pacific
China
Japan
India
Rest of Asia Pacific
LAMEA
Latin America
Middle East
Africa

KEY PLAYERS

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