Micro-inverter Market by Offering, Communication Technology (Wired, Wireless), Type (Single Phase, Three Phase), Power Rating (Below 250 W, Between 250 & 500 W, Above 500 W), Connection Type, Sales Channel, Application - Global Forecast to 2029
The global micro-inverter market was valued at USD 4.9 billion in 2024 and is estimated to reach USD 14.5 billion by 2029, registering a CAGR of 24.1% during the forecast period. Reduced costs of solar energy systems, technical advantages over conventional inverter, and increasing energy prices. These trends are leading to the growth of the micro-inverter market.
“Single phase is expected to grow at the highest CAGR during the forecast period.”
Single Phase segment is growing at the highest CAGR in the micro-inverter market. Compact and well-suited for residential and commercial applications, single-phase micro-inverters are particularly effective in electricity transmission within the residential segment. Notably, countries like the United States, Australia, and the European Union are increasingly embracing the adoption of single-phase micro-inverters. Additionally, key industry players such as Enphase Energy and Altenergy Power Systems provide a range of single-phase micro-inverter options to cater to the growing demand in the market.
“Power rating between 250 and 500 W segment is dominating the micro-inverter market.”
The power rating between 250 and 500 W segment is dominating the micro-inverter market. This power range proves particularly well-suited for residential installations and small to medium-sized commercial setups. Given that many solar panels intended for residential use fall within this power rating category, micro-inverters in this segment are considered ideal for home solar systems. Moreover, they efficiently support the power outputs of moderately sized commercial installations. The diverse applications within this power rating range contribute significantly to micro-inverters' growth between 250W and 500W.
“The US is projected to dominate the North American region for the micro-inverter market.”
The US has experienced significant growth in solar installations, driven by a combination of government incentives, falling solar panel prices, and increasing environmental awareness. As solar installations expand, the demand for microinverters, especially in residential and small commercial applications, has risen. Moreover, the residential solar market in the US has seen substantial growth. Microinverters are particularly well-suited for residential installations because they offer individual panel optimization, scalability, and ease of installation benefits. These factors collectively serve as pivotal drivers for the expansion of the micro-inverter market within the country.
In-depth interviews have been conducted with chief executive officers (CEOs), Directors, and other executives from various key organizations operating in the micro-inverter marketplace.
The study includes an in-depth competitive analysis of these key players in the micro-inverter market, with their company profiles, recent developments, and key market strategies.
Research Coverage
This research report categorizes the micro-inverter market by offerings (Hardware, Software & Services), by communication technology (Wired, Wireless), by type (Single Phase, Three Phase), by Power Rating (Below 250 W, Between 250 and 500 W, and Above 500 W) by connection type (Stand-alone, Grid-tied), by sales channel (Direct, Indirect), by application (Residential, Commercial, and PV Power Plant) and by region (North America, Europe, Asia Pacific, and RoW). The report's scope covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the micro-inverter market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements, new product & service launches, mergers and acquisitions; and recent developments associated with the micro-inverter market. This report covers the competitive analysis of upcoming startups in the micro-inverter market ecosystem.
Reasons to buy this report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall micro-inverter market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
“Single phase is expected to grow at the highest CAGR during the forecast period.”
Single Phase segment is growing at the highest CAGR in the micro-inverter market. Compact and well-suited for residential and commercial applications, single-phase micro-inverters are particularly effective in electricity transmission within the residential segment. Notably, countries like the United States, Australia, and the European Union are increasingly embracing the adoption of single-phase micro-inverters. Additionally, key industry players such as Enphase Energy and Altenergy Power Systems provide a range of single-phase micro-inverter options to cater to the growing demand in the market.
“Power rating between 250 and 500 W segment is dominating the micro-inverter market.”
The power rating between 250 and 500 W segment is dominating the micro-inverter market. This power range proves particularly well-suited for residential installations and small to medium-sized commercial setups. Given that many solar panels intended for residential use fall within this power rating category, micro-inverters in this segment are considered ideal for home solar systems. Moreover, they efficiently support the power outputs of moderately sized commercial installations. The diverse applications within this power rating range contribute significantly to micro-inverters' growth between 250W and 500W.
“The US is projected to dominate the North American region for the micro-inverter market.”
The US has experienced significant growth in solar installations, driven by a combination of government incentives, falling solar panel prices, and increasing environmental awareness. As solar installations expand, the demand for microinverters, especially in residential and small commercial applications, has risen. Moreover, the residential solar market in the US has seen substantial growth. Microinverters are particularly well-suited for residential installations because they offer individual panel optimization, scalability, and ease of installation benefits. These factors collectively serve as pivotal drivers for the expansion of the micro-inverter market within the country.
In-depth interviews have been conducted with chief executive officers (CEOs), Directors, and other executives from various key organizations operating in the micro-inverter marketplace.
- By Company Type: Tier 1 – 25%, Tier 2 – 30%, and Tier 3 – 45%
- By Designation: C-level Executives – 30%, Directors – 25%, and Others – 45%
- By Region: North America– 30%, Europe – 20%, Asia Pacific– 40% and RoW- 10%
The study includes an in-depth competitive analysis of these key players in the micro-inverter market, with their company profiles, recent developments, and key market strategies.
Research Coverage
This research report categorizes the micro-inverter market by offerings (Hardware, Software & Services), by communication technology (Wired, Wireless), by type (Single Phase, Three Phase), by Power Rating (Below 250 W, Between 250 and 500 W, and Above 500 W) by connection type (Stand-alone, Grid-tied), by sales channel (Direct, Indirect), by application (Residential, Commercial, and PV Power Plant) and by region (North America, Europe, Asia Pacific, and RoW). The report's scope covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the micro-inverter market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements, new product & service launches, mergers and acquisitions; and recent developments associated with the micro-inverter market. This report covers the competitive analysis of upcoming startups in the micro-inverter market ecosystem.
Reasons to buy this report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall micro-inverter market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Analysis of key drivers (Increasing investments in solar energy, Technical advantages over conventional solar inverters, Increasing energy Prices contributing towards installations of solar panels, Rising energy demand is fueling the growth of microinverters), restraints (Limited Power Handling Capacity, High installations and maintenance costs), opportunities (Government incentives and policies for renewable energy, Corporate sustainability initiatives by businesses), and challenges (Complexity during the installations, Safety risks associated with high DC voltages) influencing the growth of the micro-inverter market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the micro-inverter market
- Market Development: Comprehensive information about lucrative markets – the report analyses the micro-inverter market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the micro-inverter market
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Enphase Energy (US), Altenergy Power Systems (US), Hoymiles (China), Ningbo Deye Inverter Technology Co Ltd (China), Chilicon Power LLC (US), AEconversion GmbH & CO. KG (Germany), Envertech (China), ZJBENY (China), Bluesun Solar Co., Ltd. (China), and Solar Panels Plus (US) among others in the micro-inverter market.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 INCLUSIONS AND EXCLUSIONS
1.4 STUDY SCOPE
1.4.1 MARKETS COVERED
FIGURE 1 MICRO-INVERTER MARKET SEGMENTATION
1.4.2 REGIONAL SCOPE
1.4.3 YEARS CONSIDERED
1.5 CURRENCY CONSIDERED
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
1.8 IMPACT OF RECESSION
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 2 MICRO-INVERTER MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 List of key secondary sources
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Intended participants in primary interviews
2.1.2.2 Key data from primary sources
2.1.2.3 Key industry insights
2.1.2.4 Breakdown of primaries
2.2 FACTOR ANALYSIS
FIGURE 3 MICRO-INVERTER MARKET: REVENUE GENERATED BY COMPANIES FROM SALES OF MICRO-INVERTER PRODUCTS
2.3 MARKET SIZE ESTIMATION METHODOLOGY
2.3.1 BOTTOM-UP APPROACH
2.3.1.1 Approach to arrive at market size using bottom-up analysis (demand side)
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.3.2 TOP-DOWN APPROACH
2.3.2.1 Approach to arrive at market size using top-down analysis (supply side)
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.4 DATA TRIANGULATION
FIGURE 6 MICRO-INVERTER MARKET: DATA TRIANGULATION
2.5 RESEARCH ASSUMPTIONS
TABLE 1 MICRO-INVERTER MARKET: RESEARCH ASSUMPTIONS
2.6 RESEARCH LIMITATIONS
2.7 PARAMETERS CONSIDERED TO ANALYZE RECESSION IMPACT ON MICRO-INVERTER MARKET
2.8 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
FIGURE 7 SINGLE-PHASE MICRO-INVERTERS TO ACCOUNT FOR LARGER MARKET SHARE IN 2024
FIGURE 8 MICRO-INVERTERS WITH POWER RATINGS BETWEEN 250 AND 500 W TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 9 RESIDENTIAL APPLICATIONS TO EXHIBIT HIGHEST CAGR IN MICRO-INVERTER MARKET FROM 2024 TO 2029
FIGURE 10 ASIA PACIFIC TO BE FASTEST-GROWING MARKET FOR MICRO-INVERTERS DURING FORECAST PERIOD
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN MICRO-INVERTER MARKET
FIGURE 11 GOVERNMENT SUBSIDIES AND INCENTIVES FOR RENEWABLE ENERGY TO FUEL DEMAND FOR MICRO-INVERTERS IN COMING YEARS
4.2 MICRO-INVERTER MARKET, BY CONNECTION TYPE
FIGURE 12 GRID-TIED SEGMENT TO EXHIBIT FASTER GROWTH RATE IN MICRO-INVERTER MARKET DURING FORECAST PERIOD
4.3 MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY
FIGURE 13 WIRED SEGMENT DOMINATED MICRO-INVERTER MARKET IN 2023
4.4 MICRO-INVERTER MARKET, BY APPLICATION AND REGION
FIGURE 14 RESIDENTIAL SEGMENT AND NORTH AMERICA TO BE LARGEST MARKET SHAREHOLDERS IN 2029
4.5 MICRO-INVERTER MARKET, BY REGION
FIGURE 15 INDIA TO REGISTER HIGHEST CAGR IN GLOBAL MICRO-INVERTER MARKET BETWEEN 2024 AND 2029
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 16 MICRO-INVERTER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Escalating influx of investments in solar energy
5.2.1.2 Rising preference for technologically advanced solar inverters over conventional ones
5.2.1.3 Increasing solar panel installations due to surge in energy prices
5.2.1.4 Rising energy demand
FIGURE 17 MICRO-INVERTER MARKET: IMPACT ANALYSIS OF DRIVERS
5.2.2 RESTRAINTS
5.2.2.1 Complex micro-inverter installation process
5.2.2.2 Safety concerns for high DC voltages in micro-inverters
FIGURE 18 MICRO-INVERTER MARKET: IMPACT ANALYSIS OF RESTRAINTS
5.2.3 OPPORTUNITIES
5.2.3.1 Government incentives and policies encouraging adoption of renewable energy
5.2.3.2 Corporate sustainability initiatives by businesses
FIGURE 19 MICRO-INVERTER MARKET: IMPACT ANALYSIS OF OPPORTUNITIES
5.2.4 CHALLENGES
5.2.4.1 Limited power handling capacity of micro-inverters
FIGURE 20 MICRO-INVERTER MARKET: IMPACT ANALYSIS OF CHALLENGES
5.3 SUPPLY CHAIN ANALYSIS
FIGURE 21 SUPPLY CHAIN ANALYSIS: MICRO-INVERTER MARKET
5.4 ECOSYSTEM ANALYSIS
FIGURE 22 MICRO-INVERTER MARKET: ECOSYSTEM
TABLE 2 ROLE OF PARTICIPANTS IN MICRO-INVERTER ECOSYSTEM
5.5 PRICING ANALYSIS
5.5.1 PRICING ANALYSIS OF MICRO-INVERTERS OFFERED BY KEY PLAYERS
FIGURE 23 AVERAGE SELLING PRICE OF MICRO-INVERTERS OFFERED BY KEY PLAYERS, BY CONNECTION TYPE
TABLE 3 AVERAGE SELLING PRICE OF MICRO-INVERTERS PROVIDED BY KEY PLAYERS, BY CONNECTION TYPE (USD)
5.5.2 REGION-WISE AVERAGE SELLING PRICE TREND
FIGURE 24 AVERAGE SELLING PRICE OF MICRO-INVERTERS, BY REGION, 2018–2022 (USD)
5.6 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
FIGURE 25 TRANSITION TO RENEWABLE ENERGY TO HAVE POSITIVE IMPACT ON ECOSYSTEM
5.7 TECHNOLOGY ANALYSIS
5.7.1 SMART GRID
5.7.2 INTERNET OF THINGS (IOT)
5.7.3 POWER OPTIMIZERS
5.8 PORTER’S FIVE FORCES ANALYSIS
FIGURE 26 PORTER’S FIVE FORCES MODEL FOR MICRO-INVERTER MARKET
TABLE 4 MICRO-INVERTER MARKET: PORTER’S FIVE FORCES ANALYSIS
5.9 KEY STAKEHOLDERS AND BUYING CRITERIA
5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 27 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR KEY APPLICATIONS
TABLE 5 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR MAJOR APPLICATIONS (%)
5.9.2 BUYING CRITERIA
FIGURE 28 KEY BUYING CRITERIA FOR KEY APPLICATIONS
TABLE 6 KEY BUYING CRITERIA FOR MAJOR APPLICATIONS
5.10 CASE STUDY ANALYSIS
5.10.1 VINE FRESH PRODUCE LTD. INSTALLED MICRO-INVERTERS BY ENPHASE ENERGY TO POWER ROOFTOP SOLAR SYSTEMS
5.10.2 PHARMACARE LIMITED DEPLOYED MICRO-INVERTERS FROM HOYMILES IN SOLAR POWER INSTALLATION PROJECT
5.10.3 HALEAKALA SOLAR IN HAWAII INSTALLED ENPHASE ENERGY’S MICRO-INVERTERS THAT REMAIN FUNCTIONAL IN HARSH ENVIRONMENTAL CONDITIONS
5.10.4 CONVERGENCE ENERGY CHOSE ENPHASE ENERGY’S MICRO-INVERTERS FOR ROOFTOP INSTALLATIONS TO MEET ENERGY DEMAND
5.10.5 PIVOT ENERGY INSTALLED ENPHASE ENERGY’S MICRO-INVERTERS IN BUSCH STADIUM TO REDUCE ENERGY CONSUMPTION
5.10.6 PIVOT ENERGY INSTALLED ENPHASE ENERGY’S MICRO-INVERTERS IN BUSCH STADIUM TO REDUCE ENERGY CONSUMPTION
5.11 TRADE ANALYSIS
5.11.1 IMPORT SCENARIO
FIGURE 29 IMPORT VALUES FOR KEY COUNTRIES, 2018–2022 (USD MILLION)
5.11.2 EXPORT SCENARIO
FIGURE 30 EXPORT VALUES FOR KEY COUNTRIES, 2018–2022 (USD MILLION)
5.12 PATENT ANALYSIS
FIGURE 31 MICRO-INVERTER MARKET: PATENTS APPLIED AND GRANTED, 2013–2023
TABLE 7 LIST OF KEY PATENTS IN MICRO-INVERTER MARKET
5.13 KEY CONFERENCES AND EVENTS, 2024–2025
TABLE 8 MICRO-INVERTER MARKET: LIST OF CONFERENCES AND EVENTS
5.13.1 TARIFF ANALYSIS
TABLE 9 MFN TARIFF FOR HS CODE 8504-COMPLIANT PRODUCTS EXPORTED BY JAPAN
TABLE 10 MFN TARIFF FOR HS CODE 8504-COMPLIANT PRODUCTS EXPORTED BY CHINA
5.14 REGULATORY LANDSCAPE AND STANDARDS
5.14.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 11 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 12 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 13 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 14 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS
5.14.2 SAFETY STANDARDS
TABLE 15 SAFETY STANDARDS RELATED TO MICRO-INVERTER PRODUCTS
6 KEY FEATURES OF MICRO-INVERTERS
6.1 INTRODUCTION
6.2 FAST SHUTDOWN IN EMERGENCY
6.3 PANEL-LEVEL MONITORING
6.4 SCALABILITY
6.5 MULTIPLE-ANGEL INSTALLATION
7 MICRO-INVERTER MARKET, BY OFFERING
7.1 INTRODUCTION
FIGURE 32 MICRO-INVERTER MARKET, BY OFFERING
FIGURE 33 HARDWARE SEGMENT TO CAPTURE LARGER SHARE OF MICRO-INVERTER MARKET IN 2029
TABLE 16 MICRO-INVERTER MARKET, BY OFFERING, 2020–2023 (USD MILLION)
TABLE 17 MICRO-INVERTER MARKET, BY OFFERING, 2024–2029 (USD MILLION)
7.2 HARDWARE
7.2.1 TECHNOLOGICAL ADVANCEMENTS IN HARDWARE COMPONENTS TO ACCELERATE SEGMENTAL GROWTH
7.3 SOFTWARE & SERVICES
7.3.1 RISING ADOPTION OF SMART TECHNOLOGIES IN SOLAR INDUSTRY TO FUEL SEGMENTAL GROWTH
8 MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY
8.1 INTRODUCTION
FIGURE 34 MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY
FIGURE 35 WIRED TECHNOLOGY-BASED MICRO-INVERTERS TO ACCOUNT FOR LARGER MARKET SHARE IN 2029
TABLE 18 MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY, 2020–2023 (USD MILLION)
TABLE 19 MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY, 2024–2029 (USD MILLION)
8.2 WIRED
8.2.1 NEED FOR ROBUST AND SECURE COMMUNICATION INFRASTRUCTURE TO FUEL SEGMENTAL GROWTH
TABLE 20 WIRED: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 21 WIRED: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
8.3 WIRELESS
8.3.1 REQUIREMENT FOR REMOTE AND REAL-TIME DATA ACCESS TO ACCELERATE SEGMENTAL GROWTH
TABLE 22 WIRELESS: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 23 WIRELESS: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
9 MICRO-INVERTER MARKET, BY TYPE
9.1 INTRODUCTION
FIGURE 36 MICRO-INVERTER MARKET, BY TYPE
FIGURE 37 SINGLE-PHASE MICRO-INVERTERS TO LEAD MARKET THROUGHOUT FORECAST PERIOD
TABLE 24 MICRO-INVERTER MARKET, BY TYPE, 2020–2023 (USD MILLION)
TABLE 25 MICRO-INVERTER MARKET, BY TYPE, 2024–2029 (USD MILLION)
TABLE 26 MICRO-INVERTER MARKET, BY TYPE, 2020–2023 (MILLION UNITS)
TABLE 27 MICRO-INVERTER MARKET, BY TYPE, 2024–2029 (MILLION UNITS)
9.2 SINGLE-PHASE
9.2.1 ELEVATING DEMAND FROM RESIDENTIAL APPLICATIONS TO DRIVE MARKET
TABLE 28 SINGLE-PHASE: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 29 SINGLE-PHASE: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
9.3 THREE-PHASE
9.3.1 RISING ADOPTION IN PV POWER PLANTS AND COMMERCIAL APPLICATIONS TO FUEL MARKET GROWTH
TABLE 30 THREE-PHASE: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 31 THREE PHASE: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
10 MICRO-INVERTER MARKET, BY POWER RATING
10.1 INTRODUCTION
FIGURE 38 MICRO-INVERTER MARKET, BY POWER RATING
FIGURE 39 MICRO-INVERTERS WITH POWER RATINGS BETWEEN 250 AND 500 W TO LEAD MARKET FROM 2024 TO 2029
TABLE 32 MICRO-INVERTER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 33 MICRO-INVERTER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
10.2 BELOW 250 W
10.2.1 GROWING USE IN SMALL-SCALE RESIDENTIAL APPLICATIONS TO DRIVE MARKET
TABLE 34 BELOW 250 W: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 35 BELOW 250 W: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
10.3 BETWEEN 250 AND 500 W
10.3.1 INCREASING INSTALLATION OF LARGER GROUND-MOUNTED SOLAR PANELS TO FUEL SEGMENTAL GROWTH
TABLE 36 BETWEEN 250 AND 500 W: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 37 BETWEEN 250 AND 500 W: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
10.4 ABOVE 500 W
10.4.1 RISING DEMAND FROM PV POWER PLANTS AND LARGE INDUSTRIES TO DRIVE MARKET
TABLE 38 ABOVE 500 W: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 39 ABOVE 500 W: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
11 MICRO-INVERTER MARKET, BY CONNECTION TYPE
11.1 INTRODUCTION
FIGURE 40 MICRO-INVERTER MARKET, BY CONNECTION TYPE
FIGURE 41 GRID-TIED MICRO-INVERTERS TO DOMINATE MARKET THROUGHOUT FORECAST PERIOD
TABLE 40 MICRO-INVERTER MARKET, BY CONNECTION TYPE, 2020–2023 (USD MILLION)
TABLE 41 MICRO-INVERTER MARKET, BY CONNECTION TYPE, 2024–2029 (USD MILLION)
11.2 STANDALONE
11.2.1 RISING UTILIZATION OF MICRO-INVERTERS IN REMOTE AREAS TO BOOST SEGMENTAL GROWTH
TABLE 42 STANDALONE: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 43 STANDALONE: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
11.3 GRID-TIED
11.3.1 SIGNIFICANT FOCUS ON MAXIMIZING ENERGY HARVESTING TO BOOST DEMAND
TABLE 44 GRID-TIED: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 45 GRID-TIED: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
12 MICRO-INVERTER MARKET, BY SALES CHANNEL
12.1 INTRODUCTION
FIGURE 42 MICRO-INVERTER MARKET, BY SALES CHANNEL
FIGURE 43 INDIRECT SALES CHANNELS TO COMMAND MICRO-INVERTER MARKET THROUGHOUT FORECAST PERIOD
TABLE 46 MICRO-INVERTER MARKET, BY SALES CHANNEL, 2020–2023 (USD MILLION)
TABLE 47 MICRO-INVERTER MARKET, BY SALES CHANNEL, 2024–2029 (USD MILLION)
12.2 DIRECT
12.2.1 GROWING TREND OF E-COMMERCE AND DIGITALIZATION TO PROPEL SEGMENTAL GROWTH
TABLE 48 DIRECT: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 49 DIRECT: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
12.3 INDIRECT
12.3.1 STRONG DISTRIBUTION NETWORK OF MICRO-INVERTER MANUFACTURERS TO FUEL SEGMENTAL GROWTH
TABLE 50 INDIRECT: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 51 INDIRECT: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
13 MICRO-INVERTER MARKET, BY APPLICATION
13.1 INTRODUCTION
FIGURE 44 MICRO-INVERTER MARKET, BY APPLICATION
FIGURE 45 RESIDENTIAL SEGMENT TO DOMINATE MICRO-INVERTER MARKET THROUGHOUT FORECAST PERIOD
TABLE 52 MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 53 MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
13.2 RESIDENTIAL
13.2.1 INCREASING INSTALLATION AND AFFORDABILITY OF SOLAR SYSTEMS TO BOOST DEMAND FOR MICRO-INVERTERS
TABLE 54 RESIDENTIAL: MICRO-INVERTER MARKET, BY TYPE, 2020–2023 (USD MILLION)
TABLE 55 RESIDENTIAL: MICRO-INVERTER MARKET, BY TYPE, 2024–2029 (USD MILLION)
TABLE 56 RESIDENTIAL: MICRO-INVERTER MARKET, BY CONNECTION TYPE, 2020–2023 (USD MILLION)
TABLE 57 RESIDENTIAL: MICRO-INVERTER MARKET, BY CONNECTION TYPE, 2024–2029 (USD MILLION)
TABLE 58 RESIDENTIAL: MICRO-INVERTER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 59 RESIDENTIAL: MICRO-INVERTER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
TABLE 60 RESIDENTIAL: MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY, 2020–2023 (USD MILLION)
TABLE 61 RESIDENTIAL: MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY, 2024–2029 (USD MILLION)
TABLE 62 RESIDENTIAL: MICRO-INVERTER MARKET, BY SALES CHANNEL, 2020–2023 (USD MILLION)
TABLE 63 RESIDENTIAL: MICRO-INVERTER MARKET, BY SALES CHANNEL, 2024–2029 (USD MILLION)
TABLE 64 RESIDENTIAL: MICRO-INVERTER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 65 RESIDENTIAL: MICRO-INVERTER MARKET, BY REGION, 2024–2029 (USD MILLION)
13.3 COMMERCIAL
13.3.1 GROWING FOCUS ON ENVIRONMENTAL SUSTAINABILITY TO DRIVE MARKET
TABLE 66 COMMERCIAL: MICRO-INVERTER MARKET, BY TYPE, 2020–2023 (USD MILLION)
TABLE 67 COMMERCIAL: MICRO-INVERTER MARKET, BY TYPE, 2024–2029 (USD MILLION)
TABLE 68 COMMERCIAL: MICRO-INVERTER MARKET, BY CONNECTION TYPE, 2020–2023 (USD MILLION)
TABLE 69 COMMERCIAL: MICRO-INVERTER MARKET, BY CONNECTION TYPE, 2024–2029 (USD MILLION)
TABLE 70 COMMERCIAL: MICRO-INVERTER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 71 COMMERCIAL: MICRO-INVERTER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
TABLE 72 COMMERCIAL: MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY, 2020–2023 (USD MILLION)
TABLE 73 COMMERCIAL: MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY, 2024–2029 (USD MILLION)
TABLE 74 COMMERCIAL: MICRO-INVERTER MARKET, BY SALES CHANNEL, 2020–2023 (USD MILLION)
TABLE 75 COMMERCIAL: MICRO-INVERTER MARKET, BY SALES CHANNEL, 2024–2029 (USD MILLION)
TABLE 76 COMMERCIAL: MICRO-INVERTER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 77 COMMERCIAL: MICRO-INVERTER MARKET, BY REGION, 2024–2029 (USD MILLION)
13.4 PV POWER PLANTS
13.4.1 INCREASING INVESTMENTS IN PV POWER PLANTS TO FUEL MARKET GROWTH
TABLE 78 PV POWER PLANTS: MICRO-INVERTER MARKET, BY TYPE, 2020–2023 (USD MILLION)
TABLE 79 PV POWER PLANTS: MICRO-INVERTER MARKET, BY TYPE, 2024–2029 (USD MILLION)
TABLE 80 PV POWER PLANTS: MICRO-INVERTER MARKET, BY CONNECTION TYPE, 2020–2023 (USD MILLION)
TABLE 81 PV POWER PLANTS: MICRO-INVERTER MARKET, BY CONNECTION TYPE, 2024–2029 (USD MILLION)
TABLE 82 PV POWER PLANTS: MICRO-INVERTER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 83 PV POWER PLANTS: MICRO-INVERTER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
TABLE 84 PV POWER PLANTS: MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY, 2020–2023 (USD MILLION)
TABLE 85 PV POWER PLANTS: MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY, 2024–2029 (USD MILLION)
TABLE 86 PV POWER PLANTS: MICRO-INVERTER MARKET, BY SALES CHANNEL, 2020–2023 (USD MILLION)
TABLE 87 PV POWER PLANTS: MICRO-INVERTER MARKET, BY SALES CHANNEL, 2024–2029 (USD MILLION)
TABLE 88 PV POWER PLANTS: MICRO-INVERTER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 89 PV POWER PLANTS: MICRO-INVERTER MARKET, BY REGION, 2024–2029 (USD MILLION)
14 MICRO-INVERTER MARKET, BY REGION
14.1 INTRODUCTION
FIGURE 46 REGIONAL SPLIT OF MICRO-INVERTER MARKET
FIGURE 47 ASIA PACIFIC TO REGISTER HIGHEST CAGR IN MICRO-INVERTER MARKET FROM 2024 TO 2029
TABLE 90 MICRO-INVERTER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 91 MICRO-INVERTER MARKET, BY REGION, 2024–2029 (USD MILLION)
14.2 NORTH AMERICA
FIGURE 48 NORTH AMERICA: MICRO-INVERTER MARKET SNAPSHOT
TABLE 92 NORTH AMERICA: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 93 NORTH AMERICA: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 94 NORTH AMERICA: MICRO-INVERTER MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 95 NORTH AMERICA: MICRO-INVERTER MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
14.2.1 NORTH AMERICA: RECESSION IMPACT
14.2.2 US
14.2.2.1 Increasing solar installations to fuel demand for micro-inverters
14.2.3 CANADA
14.2.3.1 Government incentives for solar installations to drive market
14.2.4 MEXICO
14.2.4.1 Rapid transition toward clean energy to accelerate market growth
14.3 EUROPE
FIGURE 49 EUROPE: MICRO-INVERTER MARKET SNAPSHOT
TABLE 96 EUROPE: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 97 EUROPE: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 98 EUROPE: MICRO-INVERTER MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 99 EUROPE: MICRO-INVERTER MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
14.3.1 EUROPE: RECESSION IMPACT
14.3.2 GERMANY
14.3.2.1 Strong focus on solar PV expansion to boost requirement for micro-inverters
14.3.3 UK
14.3.3.1 Government investments in innovative energy technologies to foster market growth
14.3.4 NETHERLANDS
14.3.4.1 High utilization of solar panels in residential and commercial applications to support market growth
14.3.5 FRANCE
14.3.5.1 Renewable energy initiatives to contribute to market growth
14.3.6 REST OF EUROPE
14.4 ASIA PACIFIC
FIGURE 50 ASIA PACIFIC: MICRO-INVERTER MARKET SNAPSHOT
TABLE 100 ASIA PACIFIC: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 101 ASIA PACIFIC: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 102 ASIA PACIFIC: MICRO-INVERTER MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 103 ASIA PACIFIC: MICRO-INVERTER MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
14.4.1 ASIA PACIFIC: RECESSION IMPACT
14.4.2 CHINA
14.4.2.1 Increasing rooftop solar PV installations to stimulate market growth
14.4.3 JAPAN
14.4.3.1 Enforcement of policies and initiatives encouraging solar energy utilization to drive market
14.4.4 INDIA
14.4.4.1 Government schemes and programs to increase solar power generation to boost demand for micro-inverters
14.4.5 AUSTRALIA
14.4.5.1 Heightened rooftop solar power installation to drive market
14.4.6 REST OF ASIA PACIFIC
14.5 REST OF THE WORLD (ROW)
TABLE 104 ROW: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 105 ROW: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 106 ROW: MICRO-INVERTER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 107 ROW: MICRO-INVERTER MARKET, BY REGION, 2024–2029 (USD MILLION)
14.5.1 ROW: RECESSION IMPACT
14.5.2 SOUTH AMERICA
14.5.2.1 Increasing number of solar projects to support market growth
14.5.3 MIDDLE EAST
14.5.3.1 Rising number of PV projects to accelerate demand for micro-inverters
15 COMPETITIVE LANDSCAPE
15.1 OVERVIEW
15.2 KEY PLAYER STRATEGIES/RIGHT TO WIN
TABLE 108 OVERVIEW OF STRATEGIES DEPLOYED BY KEY MICRO-INVERTER MANUFACTURERS
15.2.1 PRODUCT PORTFOLIO
15.2.2 REGIONAL FOCUS
15.2.3 SOLUTION OFFERINGS
15.2.4 ORGANIC/INORGANIC STRATEGIES
15.3 REVENUE ANALYSIS OF TOP COMPANIES
FIGURE 51 FIVE-YEAR REVENUE ANALYSIS OF TOP PLAYERS IN MICRO-INVERTER MARKET, 2018–2022
15.4 MARKET SHARE ANALYSIS
TABLE 109 DEGREE OF COMPETITION IN MICRO-INVERTER MARKET, 2023
FIGURE 52 MARKET SHARE ANALYSIS OF KEY PLAYERS, 2023
15.5 EVALUATION MATRIX FOR KEY PLAYERS
15.5.1 STARS
15.5.2 EMERGING LEADERS
15.5.3 PERVASIVE PLAYERS
15.5.4 PARTICIPANTS
FIGURE 53 EVALUATION MATRIX FOR KEY COMPANIES, 2023
15.5.5 MICRO-INVERTER MARKET: COMPANY FOOTPRINT
TABLE 110 OVERALL FOOTPRINT (17 COMPANIES)
TABLE 111 TYPE FOOTPRINT (17 COMPANIES)
TABLE 112 APPLICATION FOOTPRINT (17 COMPANIES)
TABLE 113 REGION FOOTPRINT (17 COMPANIES)
15.6 EVALUATION MATRIX FOR STARTUPS/SMALL AND MEDIUM-SIZED ENTERPRISES
15.6.1 PROGRESSIVE COMPANIES
15.6.2 RESPONSIVE COMPANIES
15.6.3 DYNAMIC COMPANIES
15.6.4 STARTING BLOCKS
FIGURE 54 EVALUATION MATRIX FOR STARTUPS/SMALL AND MEDIUM-SIZED ENTERPRISES, 2023
15.6.5 COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
TABLE 114 MICRO-INVERTER MARKET: LIST OF KEY STARTUPS/SMES
TABLE 115 MICRO-INVERTER MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES (8 COMPANIES)
15.7 COMPETITIVE SCENARIO
15.7.1 PRODUCT LAUNCHES
TABLE 116 MICRO-INVERTER MARKET: PRODUCT LAUNCHES, 2020?2023
15.7.2 DEALS
TABLE 117 MICRO-INVERTER MARKET: DEALS, 2020–2023
16 COMPANY PROFILES
16.1 KEY PLAYERS
(Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)*
16.1.1 ENPHASE ENERGY
TABLE 118 ENPHASE ENERGY: COMPANY OVERVIEW
FIGURE 55 ENPHASE ENERGY: COMPANY SNAPSHOT
TABLE 119 ENPHASE ENERGY: PRODUCTS OFFERED
TABLE 120 ENPHASE ENERGY: PRODUCT LAUNCHES
TABLE 121 ENPHASE ENERGY: DEALS
16.1.2 ALTENERGY POWER SYSTEM INC.
TABLE 122 ALTENERGY POWER SYSTEM INC.: COMPANY OVERVIEW
TABLE 123 ALTENERGY POWER SYSTEM INC.: PRODUCTS OFFERED
TABLE 124 ALTENERGY POWER SYSTEM INC.: PRODUCT LAUNCHES
16.1.3 HOYMILES
TABLE 125 HOYMILES: COMPANY OVERVIEW
FIGURE 56 HOYMILES: COMPANY SNAPSHOT
TABLE 126 HOYMILES: PRODUCTS OFFERED
TABLE 127 HOYMILES: PRODUCT LAUNCHES
16.1.4 NINGBO DEYE INVERTER TECHNOLOGY CO., LTD.
TABLE 128 NINGBO DEYE INVERTER TECHNOLOGY CO., LTD.: COMPANY OVERVIEW
TABLE 129 NINGBO DEYE INVERTER TECHNOLOGY CO., LTD.: PRODUCTS OFFERED
16.1.5 CHILICON POWER, LLC.
TABLE 130 CHILICON POWER, LLC.: COMPANY OVERVIEW
TABLE 131 CHILICON POWER, LLC.: PRODUCTS OFFERED
16.1.6 AECONVERSION GMBH & CO. KG.
TABLE 132 AECONVERSION GMBH & CO. KG.: COMPANY OVERVIEW
TABLE 133 AECONVERSION GMBH & CO. KG.: PRODUCTS OFFERED
16.1.7 ENVERTECH
TABLE 134 ENVERTECH: COMPANY OVERVIEW
TABLE 135 ENVERTECH: PRODUCTS OFFERED
16.1.8 ZJBENY
TABLE 136 ZJBENY: COMPANY OVERVIEW
TABLE 137 ZJBENY: PRODUCTS OFFERED
16.1.9 BLUESUN SOLAR CO., LTD
TABLE 138 BLUESUN SOLAR CO., LTD: COMPANY OVERVIEW
TABLE 139 BLUESUN SOLAR CO., LTD: PRODUCTS OFFERED
16.1.10 SOLAR PANELS PLUS
TABLE 140 SOLAR PANELS PLUS: COMPANY OVERVIEW
TABLE 141 SOLAR PANELS PLUS: PRODUCTS OFFERED
16.2 OTHER KEY PLAYERS
16.2.1 NORTHERN ELECTRIC POWER TECHNOLOGY INC.
TABLE 142 NORTHERN ELECTRIC POWER TECHNOLOGY INC.: COMPANY OVERVIEW
16.2.2 SPARQ SYSTEMS
TABLE 143 SPARQ SYSTEMS: COMPANY OVERVIEW
16.2.3 U R ENERGY
TABLE 144 U R ENERGY: COMPANY OVERVIEW
16.2.4 LEADSOLAR ENERGY
TABLE 145 LEADSOLAR ENERGY: COMPANY OVERVIEW
16.2.5 GRACE RENEWABLE ENERGY
TABLE 146 GRACE RENEWABLE ENERGY: COMPANY OVERVIEW
16.2.6 ZHEJIANG SANDI ELECTRIC CO., LTD
TABLE 147 ZHEJIANG SANDI ELECTRIC CO., LTD: COMPANY OVERVIEW
16.2.7 SUNROVER POWER CO., LTD
TABLE 148 SUNROVER POWER CO., LTD: COMPANY OVERVIEW
16.2.8 YOTTA ENERGY
TABLE 149 YOTTA ENERGY: COMPANY OVERVIEW
16.2.9 CRYSTAL SOLAR ENERGY
TABLE 150 CRYSTAL SOLAR ENERGY: COMPANY OVERVIEW
16.2.10 HUAYU(NINGBO)NEW ENERGY TECHNOLOGIES CO., LTD.
TABLE 151 HUAYU(NINGBO)NEW ENERGY TECHNOLOGIES CO., LTD.: COMPANY OVERVIEW
16.2.11 CHISAGEESS
TABLE 152 CHISAGEESS: COMPANY OVERVIEW
16.2.12 TSUNESS CO., LTD.
TABLE 153 TSUNESS CO., LTD.: COMPANY OVERVIEW
16.2.13 SHENZHEN WOCOR POWERAY TECHNOLOGY CO., LTD.
TABLE 154 SHENZHEN WOCOR POWERAY TECHNOLOGY CO., LTD.: COMPANY OVERVIEW
16.2.14 NINGBO AUSTA SOLAR TECH CO., LTD.
TABLE 155 NINGBO AUSTA SOLAR TECH CO., LTD.: COMPANY OVERVIEW
16.2.15 SUNSIGHTS ENERGY LLP
TABLE 156 SUNSIGHTS ENERGY LLP: COMPANY OVERVIEW
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)* might not be captured in case of unlisted companies.
17 ADJACENT MARKET
17.1 INTRODUCTION
17.2 PHOTOVOLTAIC MARKET, BY APPLICATION
TABLE 157 PHOTOVOLTAIC MARKET, BY APPLICATION, 2019–2022 (USD BILLION)
TABLE 158 PHOTOVOLTAIC MARKET, BY APPLICATION, 2023–2028 (USD BILLION)
17.3 RESIDENTIAL
17.3.1 GOVERNMENT INCENTIVES ENCOURAGING ADOPTION OF PV SYSTEMS TO ACCELERATE SEGMENTAL GROWTH
TABLE 159 RESIDENTIAL: PHOTOVOLTAIC MARKET, BY COMPONENT, 2019–2022 (USD BILLION)
TABLE 160 RESIDENTIAL: PHOTOVOLTAIC MARKET, BY COMPONENT, 2023–2028 (USD BILLION)
TABLE 161 RESIDENTIAL: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 162 RESIDENTIAL: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
17.4 COMMERCIAL AND INDUSTRIAL
17.4.1 COMMERCIAL BUILDINGS, BANKS, EDUCATIONAL INSTITUTIONS, ENTERPRISES, AND HOSPITALS TO CONTRIBUTE TO SEGMENTAL GROWTH
TABLE 163 COMMERCIAL AND INDUSTRIAL: PHOTOVOLTAIC MARKET, BY COMPONENT, 2019–2022 (USD BILLION)
TABLE 164 COMMERCIAL AND INDUSTRIAL: PHOTOVOLTAIC MARKET, BY COMPONENT, 2023–2028 (USD BILLION)
TABLE 165 COMMERCIAL AND INDUSTRIAL: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 166 COMMERCIAL AND INDUSTRIAL: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
17.5 UTILITY
17.5.1 RISING FOCUS ON BUILDING ECOLOGICALLY SAFE POWER PLANTS TO BOOST DEMAND FOR PV SYSTEMS
TABLE 167 UTILITY: PHOTOVOLTAIC MARKET, BY COMPONENT, 2019–2022 (USD BILLION)
TABLE 168 UTILITY: PHOTOVOLTAIC MARKET, BY COMPONENT, 2023–2028 (USD BILLION)
TABLE 169 UTILITY: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 170 UTILITY: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
18 APPENDIX
18.1 INSIGHTS FROM INDUSTRY EXPERTS
18.2 DISCUSSION GUIDE
18.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
18.4 CUSTOMIZATION OPTIONS
18.5 RELATED REPORTS
18.6 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 INCLUSIONS AND EXCLUSIONS
1.4 STUDY SCOPE
1.4.1 MARKETS COVERED
FIGURE 1 MICRO-INVERTER MARKET SEGMENTATION
1.4.2 REGIONAL SCOPE
1.4.3 YEARS CONSIDERED
1.5 CURRENCY CONSIDERED
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
1.8 IMPACT OF RECESSION
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 2 MICRO-INVERTER MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 List of key secondary sources
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Intended participants in primary interviews
2.1.2.2 Key data from primary sources
2.1.2.3 Key industry insights
2.1.2.4 Breakdown of primaries
2.2 FACTOR ANALYSIS
FIGURE 3 MICRO-INVERTER MARKET: REVENUE GENERATED BY COMPANIES FROM SALES OF MICRO-INVERTER PRODUCTS
2.3 MARKET SIZE ESTIMATION METHODOLOGY
2.3.1 BOTTOM-UP APPROACH
2.3.1.1 Approach to arrive at market size using bottom-up analysis (demand side)
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.3.2 TOP-DOWN APPROACH
2.3.2.1 Approach to arrive at market size using top-down analysis (supply side)
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.4 DATA TRIANGULATION
FIGURE 6 MICRO-INVERTER MARKET: DATA TRIANGULATION
2.5 RESEARCH ASSUMPTIONS
TABLE 1 MICRO-INVERTER MARKET: RESEARCH ASSUMPTIONS
2.6 RESEARCH LIMITATIONS
2.7 PARAMETERS CONSIDERED TO ANALYZE RECESSION IMPACT ON MICRO-INVERTER MARKET
2.8 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
FIGURE 7 SINGLE-PHASE MICRO-INVERTERS TO ACCOUNT FOR LARGER MARKET SHARE IN 2024
FIGURE 8 MICRO-INVERTERS WITH POWER RATINGS BETWEEN 250 AND 500 W TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 9 RESIDENTIAL APPLICATIONS TO EXHIBIT HIGHEST CAGR IN MICRO-INVERTER MARKET FROM 2024 TO 2029
FIGURE 10 ASIA PACIFIC TO BE FASTEST-GROWING MARKET FOR MICRO-INVERTERS DURING FORECAST PERIOD
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN MICRO-INVERTER MARKET
FIGURE 11 GOVERNMENT SUBSIDIES AND INCENTIVES FOR RENEWABLE ENERGY TO FUEL DEMAND FOR MICRO-INVERTERS IN COMING YEARS
4.2 MICRO-INVERTER MARKET, BY CONNECTION TYPE
FIGURE 12 GRID-TIED SEGMENT TO EXHIBIT FASTER GROWTH RATE IN MICRO-INVERTER MARKET DURING FORECAST PERIOD
4.3 MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY
FIGURE 13 WIRED SEGMENT DOMINATED MICRO-INVERTER MARKET IN 2023
4.4 MICRO-INVERTER MARKET, BY APPLICATION AND REGION
FIGURE 14 RESIDENTIAL SEGMENT AND NORTH AMERICA TO BE LARGEST MARKET SHAREHOLDERS IN 2029
4.5 MICRO-INVERTER MARKET, BY REGION
FIGURE 15 INDIA TO REGISTER HIGHEST CAGR IN GLOBAL MICRO-INVERTER MARKET BETWEEN 2024 AND 2029
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 16 MICRO-INVERTER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Escalating influx of investments in solar energy
5.2.1.2 Rising preference for technologically advanced solar inverters over conventional ones
5.2.1.3 Increasing solar panel installations due to surge in energy prices
5.2.1.4 Rising energy demand
FIGURE 17 MICRO-INVERTER MARKET: IMPACT ANALYSIS OF DRIVERS
5.2.2 RESTRAINTS
5.2.2.1 Complex micro-inverter installation process
5.2.2.2 Safety concerns for high DC voltages in micro-inverters
FIGURE 18 MICRO-INVERTER MARKET: IMPACT ANALYSIS OF RESTRAINTS
5.2.3 OPPORTUNITIES
5.2.3.1 Government incentives and policies encouraging adoption of renewable energy
5.2.3.2 Corporate sustainability initiatives by businesses
FIGURE 19 MICRO-INVERTER MARKET: IMPACT ANALYSIS OF OPPORTUNITIES
5.2.4 CHALLENGES
5.2.4.1 Limited power handling capacity of micro-inverters
FIGURE 20 MICRO-INVERTER MARKET: IMPACT ANALYSIS OF CHALLENGES
5.3 SUPPLY CHAIN ANALYSIS
FIGURE 21 SUPPLY CHAIN ANALYSIS: MICRO-INVERTER MARKET
5.4 ECOSYSTEM ANALYSIS
FIGURE 22 MICRO-INVERTER MARKET: ECOSYSTEM
TABLE 2 ROLE OF PARTICIPANTS IN MICRO-INVERTER ECOSYSTEM
5.5 PRICING ANALYSIS
5.5.1 PRICING ANALYSIS OF MICRO-INVERTERS OFFERED BY KEY PLAYERS
FIGURE 23 AVERAGE SELLING PRICE OF MICRO-INVERTERS OFFERED BY KEY PLAYERS, BY CONNECTION TYPE
TABLE 3 AVERAGE SELLING PRICE OF MICRO-INVERTERS PROVIDED BY KEY PLAYERS, BY CONNECTION TYPE (USD)
5.5.2 REGION-WISE AVERAGE SELLING PRICE TREND
FIGURE 24 AVERAGE SELLING PRICE OF MICRO-INVERTERS, BY REGION, 2018–2022 (USD)
5.6 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
FIGURE 25 TRANSITION TO RENEWABLE ENERGY TO HAVE POSITIVE IMPACT ON ECOSYSTEM
5.7 TECHNOLOGY ANALYSIS
5.7.1 SMART GRID
5.7.2 INTERNET OF THINGS (IOT)
5.7.3 POWER OPTIMIZERS
5.8 PORTER’S FIVE FORCES ANALYSIS
FIGURE 26 PORTER’S FIVE FORCES MODEL FOR MICRO-INVERTER MARKET
TABLE 4 MICRO-INVERTER MARKET: PORTER’S FIVE FORCES ANALYSIS
5.9 KEY STAKEHOLDERS AND BUYING CRITERIA
5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 27 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR KEY APPLICATIONS
TABLE 5 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR MAJOR APPLICATIONS (%)
5.9.2 BUYING CRITERIA
FIGURE 28 KEY BUYING CRITERIA FOR KEY APPLICATIONS
TABLE 6 KEY BUYING CRITERIA FOR MAJOR APPLICATIONS
5.10 CASE STUDY ANALYSIS
5.10.1 VINE FRESH PRODUCE LTD. INSTALLED MICRO-INVERTERS BY ENPHASE ENERGY TO POWER ROOFTOP SOLAR SYSTEMS
5.10.2 PHARMACARE LIMITED DEPLOYED MICRO-INVERTERS FROM HOYMILES IN SOLAR POWER INSTALLATION PROJECT
5.10.3 HALEAKALA SOLAR IN HAWAII INSTALLED ENPHASE ENERGY’S MICRO-INVERTERS THAT REMAIN FUNCTIONAL IN HARSH ENVIRONMENTAL CONDITIONS
5.10.4 CONVERGENCE ENERGY CHOSE ENPHASE ENERGY’S MICRO-INVERTERS FOR ROOFTOP INSTALLATIONS TO MEET ENERGY DEMAND
5.10.5 PIVOT ENERGY INSTALLED ENPHASE ENERGY’S MICRO-INVERTERS IN BUSCH STADIUM TO REDUCE ENERGY CONSUMPTION
5.10.6 PIVOT ENERGY INSTALLED ENPHASE ENERGY’S MICRO-INVERTERS IN BUSCH STADIUM TO REDUCE ENERGY CONSUMPTION
5.11 TRADE ANALYSIS
5.11.1 IMPORT SCENARIO
FIGURE 29 IMPORT VALUES FOR KEY COUNTRIES, 2018–2022 (USD MILLION)
5.11.2 EXPORT SCENARIO
FIGURE 30 EXPORT VALUES FOR KEY COUNTRIES, 2018–2022 (USD MILLION)
5.12 PATENT ANALYSIS
FIGURE 31 MICRO-INVERTER MARKET: PATENTS APPLIED AND GRANTED, 2013–2023
TABLE 7 LIST OF KEY PATENTS IN MICRO-INVERTER MARKET
5.13 KEY CONFERENCES AND EVENTS, 2024–2025
TABLE 8 MICRO-INVERTER MARKET: LIST OF CONFERENCES AND EVENTS
5.13.1 TARIFF ANALYSIS
TABLE 9 MFN TARIFF FOR HS CODE 8504-COMPLIANT PRODUCTS EXPORTED BY JAPAN
TABLE 10 MFN TARIFF FOR HS CODE 8504-COMPLIANT PRODUCTS EXPORTED BY CHINA
5.14 REGULATORY LANDSCAPE AND STANDARDS
5.14.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 11 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 12 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 13 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 14 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS
5.14.2 SAFETY STANDARDS
TABLE 15 SAFETY STANDARDS RELATED TO MICRO-INVERTER PRODUCTS
6 KEY FEATURES OF MICRO-INVERTERS
6.1 INTRODUCTION
6.2 FAST SHUTDOWN IN EMERGENCY
6.3 PANEL-LEVEL MONITORING
6.4 SCALABILITY
6.5 MULTIPLE-ANGEL INSTALLATION
7 MICRO-INVERTER MARKET, BY OFFERING
7.1 INTRODUCTION
FIGURE 32 MICRO-INVERTER MARKET, BY OFFERING
FIGURE 33 HARDWARE SEGMENT TO CAPTURE LARGER SHARE OF MICRO-INVERTER MARKET IN 2029
TABLE 16 MICRO-INVERTER MARKET, BY OFFERING, 2020–2023 (USD MILLION)
TABLE 17 MICRO-INVERTER MARKET, BY OFFERING, 2024–2029 (USD MILLION)
7.2 HARDWARE
7.2.1 TECHNOLOGICAL ADVANCEMENTS IN HARDWARE COMPONENTS TO ACCELERATE SEGMENTAL GROWTH
7.3 SOFTWARE & SERVICES
7.3.1 RISING ADOPTION OF SMART TECHNOLOGIES IN SOLAR INDUSTRY TO FUEL SEGMENTAL GROWTH
8 MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY
8.1 INTRODUCTION
FIGURE 34 MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY
FIGURE 35 WIRED TECHNOLOGY-BASED MICRO-INVERTERS TO ACCOUNT FOR LARGER MARKET SHARE IN 2029
TABLE 18 MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY, 2020–2023 (USD MILLION)
TABLE 19 MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY, 2024–2029 (USD MILLION)
8.2 WIRED
8.2.1 NEED FOR ROBUST AND SECURE COMMUNICATION INFRASTRUCTURE TO FUEL SEGMENTAL GROWTH
TABLE 20 WIRED: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 21 WIRED: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
8.3 WIRELESS
8.3.1 REQUIREMENT FOR REMOTE AND REAL-TIME DATA ACCESS TO ACCELERATE SEGMENTAL GROWTH
TABLE 22 WIRELESS: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 23 WIRELESS: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
9 MICRO-INVERTER MARKET, BY TYPE
9.1 INTRODUCTION
FIGURE 36 MICRO-INVERTER MARKET, BY TYPE
FIGURE 37 SINGLE-PHASE MICRO-INVERTERS TO LEAD MARKET THROUGHOUT FORECAST PERIOD
TABLE 24 MICRO-INVERTER MARKET, BY TYPE, 2020–2023 (USD MILLION)
TABLE 25 MICRO-INVERTER MARKET, BY TYPE, 2024–2029 (USD MILLION)
TABLE 26 MICRO-INVERTER MARKET, BY TYPE, 2020–2023 (MILLION UNITS)
TABLE 27 MICRO-INVERTER MARKET, BY TYPE, 2024–2029 (MILLION UNITS)
9.2 SINGLE-PHASE
9.2.1 ELEVATING DEMAND FROM RESIDENTIAL APPLICATIONS TO DRIVE MARKET
TABLE 28 SINGLE-PHASE: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 29 SINGLE-PHASE: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
9.3 THREE-PHASE
9.3.1 RISING ADOPTION IN PV POWER PLANTS AND COMMERCIAL APPLICATIONS TO FUEL MARKET GROWTH
TABLE 30 THREE-PHASE: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 31 THREE PHASE: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
10 MICRO-INVERTER MARKET, BY POWER RATING
10.1 INTRODUCTION
FIGURE 38 MICRO-INVERTER MARKET, BY POWER RATING
FIGURE 39 MICRO-INVERTERS WITH POWER RATINGS BETWEEN 250 AND 500 W TO LEAD MARKET FROM 2024 TO 2029
TABLE 32 MICRO-INVERTER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 33 MICRO-INVERTER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
10.2 BELOW 250 W
10.2.1 GROWING USE IN SMALL-SCALE RESIDENTIAL APPLICATIONS TO DRIVE MARKET
TABLE 34 BELOW 250 W: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 35 BELOW 250 W: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
10.3 BETWEEN 250 AND 500 W
10.3.1 INCREASING INSTALLATION OF LARGER GROUND-MOUNTED SOLAR PANELS TO FUEL SEGMENTAL GROWTH
TABLE 36 BETWEEN 250 AND 500 W: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 37 BETWEEN 250 AND 500 W: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
10.4 ABOVE 500 W
10.4.1 RISING DEMAND FROM PV POWER PLANTS AND LARGE INDUSTRIES TO DRIVE MARKET
TABLE 38 ABOVE 500 W: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 39 ABOVE 500 W: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
11 MICRO-INVERTER MARKET, BY CONNECTION TYPE
11.1 INTRODUCTION
FIGURE 40 MICRO-INVERTER MARKET, BY CONNECTION TYPE
FIGURE 41 GRID-TIED MICRO-INVERTERS TO DOMINATE MARKET THROUGHOUT FORECAST PERIOD
TABLE 40 MICRO-INVERTER MARKET, BY CONNECTION TYPE, 2020–2023 (USD MILLION)
TABLE 41 MICRO-INVERTER MARKET, BY CONNECTION TYPE, 2024–2029 (USD MILLION)
11.2 STANDALONE
11.2.1 RISING UTILIZATION OF MICRO-INVERTERS IN REMOTE AREAS TO BOOST SEGMENTAL GROWTH
TABLE 42 STANDALONE: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 43 STANDALONE: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
11.3 GRID-TIED
11.3.1 SIGNIFICANT FOCUS ON MAXIMIZING ENERGY HARVESTING TO BOOST DEMAND
TABLE 44 GRID-TIED: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 45 GRID-TIED: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
12 MICRO-INVERTER MARKET, BY SALES CHANNEL
12.1 INTRODUCTION
FIGURE 42 MICRO-INVERTER MARKET, BY SALES CHANNEL
FIGURE 43 INDIRECT SALES CHANNELS TO COMMAND MICRO-INVERTER MARKET THROUGHOUT FORECAST PERIOD
TABLE 46 MICRO-INVERTER MARKET, BY SALES CHANNEL, 2020–2023 (USD MILLION)
TABLE 47 MICRO-INVERTER MARKET, BY SALES CHANNEL, 2024–2029 (USD MILLION)
12.2 DIRECT
12.2.1 GROWING TREND OF E-COMMERCE AND DIGITALIZATION TO PROPEL SEGMENTAL GROWTH
TABLE 48 DIRECT: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 49 DIRECT: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
12.3 INDIRECT
12.3.1 STRONG DISTRIBUTION NETWORK OF MICRO-INVERTER MANUFACTURERS TO FUEL SEGMENTAL GROWTH
TABLE 50 INDIRECT: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 51 INDIRECT: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
13 MICRO-INVERTER MARKET, BY APPLICATION
13.1 INTRODUCTION
FIGURE 44 MICRO-INVERTER MARKET, BY APPLICATION
FIGURE 45 RESIDENTIAL SEGMENT TO DOMINATE MICRO-INVERTER MARKET THROUGHOUT FORECAST PERIOD
TABLE 52 MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 53 MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
13.2 RESIDENTIAL
13.2.1 INCREASING INSTALLATION AND AFFORDABILITY OF SOLAR SYSTEMS TO BOOST DEMAND FOR MICRO-INVERTERS
TABLE 54 RESIDENTIAL: MICRO-INVERTER MARKET, BY TYPE, 2020–2023 (USD MILLION)
TABLE 55 RESIDENTIAL: MICRO-INVERTER MARKET, BY TYPE, 2024–2029 (USD MILLION)
TABLE 56 RESIDENTIAL: MICRO-INVERTER MARKET, BY CONNECTION TYPE, 2020–2023 (USD MILLION)
TABLE 57 RESIDENTIAL: MICRO-INVERTER MARKET, BY CONNECTION TYPE, 2024–2029 (USD MILLION)
TABLE 58 RESIDENTIAL: MICRO-INVERTER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 59 RESIDENTIAL: MICRO-INVERTER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
TABLE 60 RESIDENTIAL: MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY, 2020–2023 (USD MILLION)
TABLE 61 RESIDENTIAL: MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY, 2024–2029 (USD MILLION)
TABLE 62 RESIDENTIAL: MICRO-INVERTER MARKET, BY SALES CHANNEL, 2020–2023 (USD MILLION)
TABLE 63 RESIDENTIAL: MICRO-INVERTER MARKET, BY SALES CHANNEL, 2024–2029 (USD MILLION)
TABLE 64 RESIDENTIAL: MICRO-INVERTER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 65 RESIDENTIAL: MICRO-INVERTER MARKET, BY REGION, 2024–2029 (USD MILLION)
13.3 COMMERCIAL
13.3.1 GROWING FOCUS ON ENVIRONMENTAL SUSTAINABILITY TO DRIVE MARKET
TABLE 66 COMMERCIAL: MICRO-INVERTER MARKET, BY TYPE, 2020–2023 (USD MILLION)
TABLE 67 COMMERCIAL: MICRO-INVERTER MARKET, BY TYPE, 2024–2029 (USD MILLION)
TABLE 68 COMMERCIAL: MICRO-INVERTER MARKET, BY CONNECTION TYPE, 2020–2023 (USD MILLION)
TABLE 69 COMMERCIAL: MICRO-INVERTER MARKET, BY CONNECTION TYPE, 2024–2029 (USD MILLION)
TABLE 70 COMMERCIAL: MICRO-INVERTER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 71 COMMERCIAL: MICRO-INVERTER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
TABLE 72 COMMERCIAL: MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY, 2020–2023 (USD MILLION)
TABLE 73 COMMERCIAL: MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY, 2024–2029 (USD MILLION)
TABLE 74 COMMERCIAL: MICRO-INVERTER MARKET, BY SALES CHANNEL, 2020–2023 (USD MILLION)
TABLE 75 COMMERCIAL: MICRO-INVERTER MARKET, BY SALES CHANNEL, 2024–2029 (USD MILLION)
TABLE 76 COMMERCIAL: MICRO-INVERTER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 77 COMMERCIAL: MICRO-INVERTER MARKET, BY REGION, 2024–2029 (USD MILLION)
13.4 PV POWER PLANTS
13.4.1 INCREASING INVESTMENTS IN PV POWER PLANTS TO FUEL MARKET GROWTH
TABLE 78 PV POWER PLANTS: MICRO-INVERTER MARKET, BY TYPE, 2020–2023 (USD MILLION)
TABLE 79 PV POWER PLANTS: MICRO-INVERTER MARKET, BY TYPE, 2024–2029 (USD MILLION)
TABLE 80 PV POWER PLANTS: MICRO-INVERTER MARKET, BY CONNECTION TYPE, 2020–2023 (USD MILLION)
TABLE 81 PV POWER PLANTS: MICRO-INVERTER MARKET, BY CONNECTION TYPE, 2024–2029 (USD MILLION)
TABLE 82 PV POWER PLANTS: MICRO-INVERTER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 83 PV POWER PLANTS: MICRO-INVERTER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
TABLE 84 PV POWER PLANTS: MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY, 2020–2023 (USD MILLION)
TABLE 85 PV POWER PLANTS: MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY, 2024–2029 (USD MILLION)
TABLE 86 PV POWER PLANTS: MICRO-INVERTER MARKET, BY SALES CHANNEL, 2020–2023 (USD MILLION)
TABLE 87 PV POWER PLANTS: MICRO-INVERTER MARKET, BY SALES CHANNEL, 2024–2029 (USD MILLION)
TABLE 88 PV POWER PLANTS: MICRO-INVERTER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 89 PV POWER PLANTS: MICRO-INVERTER MARKET, BY REGION, 2024–2029 (USD MILLION)
14 MICRO-INVERTER MARKET, BY REGION
14.1 INTRODUCTION
FIGURE 46 REGIONAL SPLIT OF MICRO-INVERTER MARKET
FIGURE 47 ASIA PACIFIC TO REGISTER HIGHEST CAGR IN MICRO-INVERTER MARKET FROM 2024 TO 2029
TABLE 90 MICRO-INVERTER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 91 MICRO-INVERTER MARKET, BY REGION, 2024–2029 (USD MILLION)
14.2 NORTH AMERICA
FIGURE 48 NORTH AMERICA: MICRO-INVERTER MARKET SNAPSHOT
TABLE 92 NORTH AMERICA: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 93 NORTH AMERICA: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 94 NORTH AMERICA: MICRO-INVERTER MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 95 NORTH AMERICA: MICRO-INVERTER MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
14.2.1 NORTH AMERICA: RECESSION IMPACT
14.2.2 US
14.2.2.1 Increasing solar installations to fuel demand for micro-inverters
14.2.3 CANADA
14.2.3.1 Government incentives for solar installations to drive market
14.2.4 MEXICO
14.2.4.1 Rapid transition toward clean energy to accelerate market growth
14.3 EUROPE
FIGURE 49 EUROPE: MICRO-INVERTER MARKET SNAPSHOT
TABLE 96 EUROPE: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 97 EUROPE: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 98 EUROPE: MICRO-INVERTER MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 99 EUROPE: MICRO-INVERTER MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
14.3.1 EUROPE: RECESSION IMPACT
14.3.2 GERMANY
14.3.2.1 Strong focus on solar PV expansion to boost requirement for micro-inverters
14.3.3 UK
14.3.3.1 Government investments in innovative energy technologies to foster market growth
14.3.4 NETHERLANDS
14.3.4.1 High utilization of solar panels in residential and commercial applications to support market growth
14.3.5 FRANCE
14.3.5.1 Renewable energy initiatives to contribute to market growth
14.3.6 REST OF EUROPE
14.4 ASIA PACIFIC
FIGURE 50 ASIA PACIFIC: MICRO-INVERTER MARKET SNAPSHOT
TABLE 100 ASIA PACIFIC: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 101 ASIA PACIFIC: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 102 ASIA PACIFIC: MICRO-INVERTER MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 103 ASIA PACIFIC: MICRO-INVERTER MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
14.4.1 ASIA PACIFIC: RECESSION IMPACT
14.4.2 CHINA
14.4.2.1 Increasing rooftop solar PV installations to stimulate market growth
14.4.3 JAPAN
14.4.3.1 Enforcement of policies and initiatives encouraging solar energy utilization to drive market
14.4.4 INDIA
14.4.4.1 Government schemes and programs to increase solar power generation to boost demand for micro-inverters
14.4.5 AUSTRALIA
14.4.5.1 Heightened rooftop solar power installation to drive market
14.4.6 REST OF ASIA PACIFIC
14.5 REST OF THE WORLD (ROW)
TABLE 104 ROW: MICRO-INVERTER MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 105 ROW: MICRO-INVERTER MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 106 ROW: MICRO-INVERTER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 107 ROW: MICRO-INVERTER MARKET, BY REGION, 2024–2029 (USD MILLION)
14.5.1 ROW: RECESSION IMPACT
14.5.2 SOUTH AMERICA
14.5.2.1 Increasing number of solar projects to support market growth
14.5.3 MIDDLE EAST
14.5.3.1 Rising number of PV projects to accelerate demand for micro-inverters
15 COMPETITIVE LANDSCAPE
15.1 OVERVIEW
15.2 KEY PLAYER STRATEGIES/RIGHT TO WIN
TABLE 108 OVERVIEW OF STRATEGIES DEPLOYED BY KEY MICRO-INVERTER MANUFACTURERS
15.2.1 PRODUCT PORTFOLIO
15.2.2 REGIONAL FOCUS
15.2.3 SOLUTION OFFERINGS
15.2.4 ORGANIC/INORGANIC STRATEGIES
15.3 REVENUE ANALYSIS OF TOP COMPANIES
FIGURE 51 FIVE-YEAR REVENUE ANALYSIS OF TOP PLAYERS IN MICRO-INVERTER MARKET, 2018–2022
15.4 MARKET SHARE ANALYSIS
TABLE 109 DEGREE OF COMPETITION IN MICRO-INVERTER MARKET, 2023
FIGURE 52 MARKET SHARE ANALYSIS OF KEY PLAYERS, 2023
15.5 EVALUATION MATRIX FOR KEY PLAYERS
15.5.1 STARS
15.5.2 EMERGING LEADERS
15.5.3 PERVASIVE PLAYERS
15.5.4 PARTICIPANTS
FIGURE 53 EVALUATION MATRIX FOR KEY COMPANIES, 2023
15.5.5 MICRO-INVERTER MARKET: COMPANY FOOTPRINT
TABLE 110 OVERALL FOOTPRINT (17 COMPANIES)
TABLE 111 TYPE FOOTPRINT (17 COMPANIES)
TABLE 112 APPLICATION FOOTPRINT (17 COMPANIES)
TABLE 113 REGION FOOTPRINT (17 COMPANIES)
15.6 EVALUATION MATRIX FOR STARTUPS/SMALL AND MEDIUM-SIZED ENTERPRISES
15.6.1 PROGRESSIVE COMPANIES
15.6.2 RESPONSIVE COMPANIES
15.6.3 DYNAMIC COMPANIES
15.6.4 STARTING BLOCKS
FIGURE 54 EVALUATION MATRIX FOR STARTUPS/SMALL AND MEDIUM-SIZED ENTERPRISES, 2023
15.6.5 COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
TABLE 114 MICRO-INVERTER MARKET: LIST OF KEY STARTUPS/SMES
TABLE 115 MICRO-INVERTER MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES (8 COMPANIES)
15.7 COMPETITIVE SCENARIO
15.7.1 PRODUCT LAUNCHES
TABLE 116 MICRO-INVERTER MARKET: PRODUCT LAUNCHES, 2020?2023
15.7.2 DEALS
TABLE 117 MICRO-INVERTER MARKET: DEALS, 2020–2023
16 COMPANY PROFILES
16.1 KEY PLAYERS
(Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)*
16.1.1 ENPHASE ENERGY
TABLE 118 ENPHASE ENERGY: COMPANY OVERVIEW
FIGURE 55 ENPHASE ENERGY: COMPANY SNAPSHOT
TABLE 119 ENPHASE ENERGY: PRODUCTS OFFERED
TABLE 120 ENPHASE ENERGY: PRODUCT LAUNCHES
TABLE 121 ENPHASE ENERGY: DEALS
16.1.2 ALTENERGY POWER SYSTEM INC.
TABLE 122 ALTENERGY POWER SYSTEM INC.: COMPANY OVERVIEW
TABLE 123 ALTENERGY POWER SYSTEM INC.: PRODUCTS OFFERED
TABLE 124 ALTENERGY POWER SYSTEM INC.: PRODUCT LAUNCHES
16.1.3 HOYMILES
TABLE 125 HOYMILES: COMPANY OVERVIEW
FIGURE 56 HOYMILES: COMPANY SNAPSHOT
TABLE 126 HOYMILES: PRODUCTS OFFERED
TABLE 127 HOYMILES: PRODUCT LAUNCHES
16.1.4 NINGBO DEYE INVERTER TECHNOLOGY CO., LTD.
TABLE 128 NINGBO DEYE INVERTER TECHNOLOGY CO., LTD.: COMPANY OVERVIEW
TABLE 129 NINGBO DEYE INVERTER TECHNOLOGY CO., LTD.: PRODUCTS OFFERED
16.1.5 CHILICON POWER, LLC.
TABLE 130 CHILICON POWER, LLC.: COMPANY OVERVIEW
TABLE 131 CHILICON POWER, LLC.: PRODUCTS OFFERED
16.1.6 AECONVERSION GMBH & CO. KG.
TABLE 132 AECONVERSION GMBH & CO. KG.: COMPANY OVERVIEW
TABLE 133 AECONVERSION GMBH & CO. KG.: PRODUCTS OFFERED
16.1.7 ENVERTECH
TABLE 134 ENVERTECH: COMPANY OVERVIEW
TABLE 135 ENVERTECH: PRODUCTS OFFERED
16.1.8 ZJBENY
TABLE 136 ZJBENY: COMPANY OVERVIEW
TABLE 137 ZJBENY: PRODUCTS OFFERED
16.1.9 BLUESUN SOLAR CO., LTD
TABLE 138 BLUESUN SOLAR CO., LTD: COMPANY OVERVIEW
TABLE 139 BLUESUN SOLAR CO., LTD: PRODUCTS OFFERED
16.1.10 SOLAR PANELS PLUS
TABLE 140 SOLAR PANELS PLUS: COMPANY OVERVIEW
TABLE 141 SOLAR PANELS PLUS: PRODUCTS OFFERED
16.2 OTHER KEY PLAYERS
16.2.1 NORTHERN ELECTRIC POWER TECHNOLOGY INC.
TABLE 142 NORTHERN ELECTRIC POWER TECHNOLOGY INC.: COMPANY OVERVIEW
16.2.2 SPARQ SYSTEMS
TABLE 143 SPARQ SYSTEMS: COMPANY OVERVIEW
16.2.3 U R ENERGY
TABLE 144 U R ENERGY: COMPANY OVERVIEW
16.2.4 LEADSOLAR ENERGY
TABLE 145 LEADSOLAR ENERGY: COMPANY OVERVIEW
16.2.5 GRACE RENEWABLE ENERGY
TABLE 146 GRACE RENEWABLE ENERGY: COMPANY OVERVIEW
16.2.6 ZHEJIANG SANDI ELECTRIC CO., LTD
TABLE 147 ZHEJIANG SANDI ELECTRIC CO., LTD: COMPANY OVERVIEW
16.2.7 SUNROVER POWER CO., LTD
TABLE 148 SUNROVER POWER CO., LTD: COMPANY OVERVIEW
16.2.8 YOTTA ENERGY
TABLE 149 YOTTA ENERGY: COMPANY OVERVIEW
16.2.9 CRYSTAL SOLAR ENERGY
TABLE 150 CRYSTAL SOLAR ENERGY: COMPANY OVERVIEW
16.2.10 HUAYU(NINGBO)NEW ENERGY TECHNOLOGIES CO., LTD.
TABLE 151 HUAYU(NINGBO)NEW ENERGY TECHNOLOGIES CO., LTD.: COMPANY OVERVIEW
16.2.11 CHISAGEESS
TABLE 152 CHISAGEESS: COMPANY OVERVIEW
16.2.12 TSUNESS CO., LTD.
TABLE 153 TSUNESS CO., LTD.: COMPANY OVERVIEW
16.2.13 SHENZHEN WOCOR POWERAY TECHNOLOGY CO., LTD.
TABLE 154 SHENZHEN WOCOR POWERAY TECHNOLOGY CO., LTD.: COMPANY OVERVIEW
16.2.14 NINGBO AUSTA SOLAR TECH CO., LTD.
TABLE 155 NINGBO AUSTA SOLAR TECH CO., LTD.: COMPANY OVERVIEW
16.2.15 SUNSIGHTS ENERGY LLP
TABLE 156 SUNSIGHTS ENERGY LLP: COMPANY OVERVIEW
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)* might not be captured in case of unlisted companies.
17 ADJACENT MARKET
17.1 INTRODUCTION
17.2 PHOTOVOLTAIC MARKET, BY APPLICATION
TABLE 157 PHOTOVOLTAIC MARKET, BY APPLICATION, 2019–2022 (USD BILLION)
TABLE 158 PHOTOVOLTAIC MARKET, BY APPLICATION, 2023–2028 (USD BILLION)
17.3 RESIDENTIAL
17.3.1 GOVERNMENT INCENTIVES ENCOURAGING ADOPTION OF PV SYSTEMS TO ACCELERATE SEGMENTAL GROWTH
TABLE 159 RESIDENTIAL: PHOTOVOLTAIC MARKET, BY COMPONENT, 2019–2022 (USD BILLION)
TABLE 160 RESIDENTIAL: PHOTOVOLTAIC MARKET, BY COMPONENT, 2023–2028 (USD BILLION)
TABLE 161 RESIDENTIAL: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 162 RESIDENTIAL: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
17.4 COMMERCIAL AND INDUSTRIAL
17.4.1 COMMERCIAL BUILDINGS, BANKS, EDUCATIONAL INSTITUTIONS, ENTERPRISES, AND HOSPITALS TO CONTRIBUTE TO SEGMENTAL GROWTH
TABLE 163 COMMERCIAL AND INDUSTRIAL: PHOTOVOLTAIC MARKET, BY COMPONENT, 2019–2022 (USD BILLION)
TABLE 164 COMMERCIAL AND INDUSTRIAL: PHOTOVOLTAIC MARKET, BY COMPONENT, 2023–2028 (USD BILLION)
TABLE 165 COMMERCIAL AND INDUSTRIAL: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 166 COMMERCIAL AND INDUSTRIAL: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
17.5 UTILITY
17.5.1 RISING FOCUS ON BUILDING ECOLOGICALLY SAFE POWER PLANTS TO BOOST DEMAND FOR PV SYSTEMS
TABLE 167 UTILITY: PHOTOVOLTAIC MARKET, BY COMPONENT, 2019–2022 (USD BILLION)
TABLE 168 UTILITY: PHOTOVOLTAIC MARKET, BY COMPONENT, 2023–2028 (USD BILLION)
TABLE 169 UTILITY: PHOTOVOLTAIC MARKET, BY REGION, 2019–2022 (USD BILLION)
TABLE 170 UTILITY: PHOTOVOLTAIC MARKET, BY REGION, 2023–2028 (USD BILLION)
18 APPENDIX
18.1 INSIGHTS FROM INDUSTRY EXPERTS
18.2 DISCUSSION GUIDE
18.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
18.4 CUSTOMIZATION OPTIONS
18.5 RELATED REPORTS
18.6 AUTHOR DETAILS
