Solar Micro Inverter Market, By System type (Stand Alone and Integrated, By End Use, and By Region - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

A solar micro inverter or also referred to as a microinverter is an electronic device used to convert direct current (DC) into an alternating current (AC) generated by a single solar module. Generally, the output from several microinverters can be combined and fed to the electrical grid. Microinverters provide numerous advantages including, module-level monitoring, easier installation, enhanced design flexibility, offers better safety than conventional inverters, etc.

Furthermore, micro-inverters enable module-level monitoring, enhanced design flexibility, easier installation, and better safety than conventional inverters. Micro inverters and power optimizers are collectively known as module-level power electronics, wherein it offers significant efficiency over conventional systems and deploys Maximum Power Point Tracking (MPPT). This, in turn, maximizes the output from each module and enhances efficiency of the overall system.

The Global Solar Micro Inverter Market was valued for US$ 231 Mn in 2021.

Market Dynamics

An AC module is a photovoltaic module that has an integrated microinverter. It offers several added benefits, which is expected to make integrated microinverter systems fastest-growing during the forecast period. For instance, it can replace junction box and shorten DC wiring, which saves up to US$ 0.03/watt and enhances safety, reduces installation time on integration thereby saving 30-50% in labor costs. Moreover, advance solar inverters such as micro solar inverters offer numerous advantages over the conventional string and central inverters such as high energy yield, module level monitoring abilities, longer life cycles, enhanced safety, betters flexibility, simplicity, and higher labor efficiency, and no single point of failure. These prime factors have increased the adoption of micro inverters in the photovoltaic industry in the recent past. Therefore, these benefits are expected to boost the global solar micro inverters market growth over the forecast period.

Key features of the study:

• This report provides an in-depth analysis of the Global Solar Micro Inverter Market and provides market size (US$ Million and Mn Units) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
• It profiles leading players in the global Solar Micro Inverter Market based on the following parameters - regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered in the Global Solar Micro Inverter Market includes SunPower Corporation, Enphase Energy Inc., iEnergy Co. Ltd., Altenergy Power System Inc., Chilicon Power, LLC, SMA Solar Technology AG, Sparq Systems, SMA Solar Technology AG, Northern Electric and Power Co. Ltd, ABB Ltd., LG Electronics, and Darfon Electronics Corporation.
• These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
• The global Solar Micro Inverter market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Global Solar Micro Inverter Market

Detailed Segmentation

• Global Solar Micro Inverter Market, By System Type:
  • Stand Alone
  • Integrated (AC Module)
• Global Solar Micro Inverter Market, By End-Use:
  • Residential
  • Commercial
  • Utility
• Global Solar Micro Inverter Market, By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
• Company Profiles
  • SunPower Corporation*
    • Company Overview
    • Product Portfolio
    • Financial Performance
    • Key Strategies
    • Recent Developments
  • Enphase Energy Inc.
  • iEnergy Co. Ltd.
  • Altenergy Power System Inc.
  • Chilicon Power, LLC
  • SMA Solar Technology AG
  • Sparq Systems
  • SMA Solar Technology AG
  • Northern Electric and Power Co. Ltd
  • ABB Ltd.
  • LG Electronics
  • Darfon Electronics Corporation

"*" marked represents similar segmentation in other categories in the respective section.