Solar Microinverter Market: Current Scenario and Forecast (2019-2025)

Solar Microinverter Market: Current Scenario and Forecast (2019-2025)

Emphasis on Inverter Type (Single Phase, Three Phase), Connectivity (Integrated, Standalone), Distribution Channel (Direct and Indirect Sale Channel), End-Users (Residential, Commercial) and Region/Country

$ 5,000
$6,500
$8,450

Published: Nov-2019

Pages:237

Table:153

Figure:108

Report ID:UMSE19194

Global solar micro inverter market was valued at US$ 977.5 Million in 2018 and is anticipated to reach US$ 5,604.6 Million by 2025 displaying explosive CAGR of 28.4% over the forecast period 2019-2025. Energy supply from renewable sources forms an essential part of energy distribution, particularly when there are issues pertaining to sustainable environment. In this regard, microinverters are of great help. Traditional solar systems comprise a single inverter and in case of any failure of inverter, there remains no backup of energy transfer. Therefore, microinverters are an alternative energy source. A solar micro-inverter, or simply microinverter, is a plug-and-play device used in photovoltaics, that converts direct current generated by a single solar module to alternating current. Unlike conventional string/central inverters, a microinverter works on Module Level Power Electronics i.e. power conversion takes place at individual module level. This mitigates the negative effect of module mismatch and improves the overall efficiency of the system. Microinverters also enable module-level monitoring, easier installation, enhanced design flexibility and better safety than conventional inverters. The solar microinverter market is driven by constant R&D activities and significant reduction in the costs of microinverters. The solar micro inverter market also receives a great boost due to its compact size and versatility. Further, increasing requirement of consumers, based on modularity, safety, and maximum energy harvest will continue to drive the market at a considerable pace in coming years.

Working Model of Integrated Micro Inverter

Owing to increasing demand, a lot of innovation is taking place in the solar micro-inverter industry. For example, Tesla has launched a solar roof. This solar roof consists of the power wall battery, turning sunlight into electricity. The solar roof is made of tempered glass tiles and these tiles are stronger than non-solar tiles and regular plate glass. The micro inverter addresses many of the shortcomings of central inverters. Microinverters minimize the issue of one module in shade affecting the entire array.  A homeowner whose roof may get some shade throughout the day has a good reason to consider micro inverters. Due to the varying use of micro inverters across the world, global players are concentrating on regions where awareness about using renewable energy resources is higher. Robust adoption of PV storage systems in the U.S. will continue to fuel demand for solar micro inverters in North America.

Photovoltaic Micro Inverter Shipments and Year on Year Growth, Global 2013-2017, (MW, %)

 

“Single Phase solar micro inverter is expected to dominate the market during the forecast period.”

Based on the inverter type, the solar microinverter market is segmented into single-phase and three-phase micro inverters. Single-phase micro inverters have showcased surging demand among residential households as they require single-phase power supply to run household appliances such as lighting & heating devices and few electric motors. The segment accounted for 68.1% share in 2018.

“Integrated solar microinverter would be the most preferred microinverter in major markets”

Based on connectivity, the solar microinverter market is divided into standalone and integrated. Integrated occupied the lead share in solar micro inverter market specifically due to their cost-effectiveness and ease of installation

“Direct sales channel occupied the major market in the solar microinverter market”

Based on the distribution channel, the market is bifurcated into a direct and indirect sales channel. Direct sales channels dominated the market in 2018, with 82.2% share and are expected to maintain its dominance throughout the forecast period, on account of surging number of organized retailers such as supermarkets, hypermarkets, convenience stores, and discount stores in different countries proving to be extremely beneficial for the vendors. 

“Residential End Users were the major adopter of solar microinverter technology”

In terms of end-users, global solar micro inverters market has been categorized into residential and commercial end-users. The residential sector accounted for majority share in 2018 and is expected to witness a healthy growth rate during the forecast period. The expected market dominance of the residential sector can be majorly attributed to increasing adoption of energy conservation measures for controlling the increased energy expenditure in residential applications. Over the coming years, commercial sector is also anticipated to account for a significant portion of the global solar inverters market.

“North America accounts for the major market share in terms of revenue in the solar microinverter market”

For better understanding and analysis of the overall adoption of the solar microinverters, detailed analysis was conducted for different region/country including North America (US, Canada), Europe (Germany, Italy, UK, Belgium, Netherlands, France and Rest of Europe), Asia Pacific (China, Japan, India, Australia and Rest of APAC) and Rest of the World. Among all these regions, North America constitutes to be the most matured region. Europe and Asia Pacific are expected to witness considerable growth over the analysed period owing to increasing demand for energy efficiency and growing awareness among the households, paired with growing government participation in generating renewable energy source

Competitive Landscape – Top 10 Market Players

Some of the dominant players operating in the solar micro inverter industry have adopted a number of competitive strategies such as merger and acquisition, partnership and business expansion among others to expand their reach and market share. The key players contributing to the growth of the global solar micro inverters market include SMA, Darfon Electronics, ABB, APSytems, Chilicon Power, iEnergy, Enphase, NEP, SunPower, Enphase and Sparq Systems among others.

Reasons to buy:

  • The study includes market sizing and forecasting analysis validated until 2025. The analysis presented in the report is a combination of deep-dive secondary research and input from Key Opinion Leader of the industry
  • The report presents a quick review of overall industry performance at one glance
  • The report covers in-depth analysis of prominent industry peers with primary focus on key business financials, product portfolio, expansion strategies and recent developments
  • Detailed examination on drivers, restraints, key trends and opportunities prevailing in the industry
  • Examination of industry attractiveness with the help of Porter’s Five Forces analysis
  • The study comprehensively covers the market across different segments and sub-segments
  • The study also covers the comprehensive country wise analysis in the specific region
  • Region/Country Covered: North America (US, Canada), Europe (Germany, Italy, UK, Belgium, Netherlands, France and Rest of Europe), Asia Pacific (China, Japan, India, Australia and Rest of APAC) and Rest of the World

Customization Options:

The Solar Microinverter market report can be customized to the country level or any other market segment. Besides this, UMI understands that you may have your own business need, hence we also provide fully customized solutions to our clients.

    1.1 Market Definition
    1.2 Objective of the Study
    1.3 Limitation  
    1.4 Stakeholders  
    1.5 Currency used in the Report
    1.6 Scope of the Global Solar Microinverter Market Study
  2 RESEARCH METHODOLOGY OR ASSUMPTION
    2.1 Research Methodology for Global Solar Microinverter Market Study
      2.1.1 Main objective of the Global Solar Microinverter Market Study
  3 INDUSTRY PERFORMANCE
  4 EXECUTIVE SUMMARY
    4.1 Advantages of Microinverters:
  5 MARKET OVERVIEW
    5.1 Introduction  
    5.2 Market Dynamics - Market Trend & Drivers
      5.2.1 Escalating Urbanization and Infrastructural Development
      5.2.2 Accelerating Research and Development
      5.2.3 Falling Costs
      5.2.4 Safer and Reliable
    5.3 Market Challenges
      5.3.1 High Cost of Installation and Repairing
    5.4 Market Opportunities
      5.4.1 Power Optimizers – An Equivalent Competitor
  6 DEMAND AND SUPPLY SIDE ANALYSIS
    6.1 Demand Side Analysis
    6.2 Supply Side Analysis
      6.2.1 Product Launches
      6.2.2 Major Strategic Alliances
      6.2.3 Major Business Expansion and Investments
      6.2.4 Mergers & Acquisitions
      6.2.5 Key Facts on Solar Industry
      6.2.6 Major Start Ups
  7 LEGAL & REGULATORY FRAMEWORK
    7.1 General Overview
    7.2 Standardization
      7.2.1 Safety International Standards of Inverters
        7.2.1.1 IEC 62109 – Safety of power converters for use in photovoltaic power systems
        7.2.1.2 IEC 62093 – Balance-of-system components for photovoltaic systems
      7.2.2 United States Inverter Standards
        7.2.2.1 UL 1741-Standard for Inverters, Converters, Controllers and Interconnection Systems Equipment for Use with Distributed Energy Resources
        7.2.2.2 UL 62109-Standard for Safety of power converters for use in photovoltaic power systems – Part 1: General requirements
        7.2.2.3 Regulatory Jurisdiction for Renewable Energy Grid Interconnections in the United States
          7.2.2.3.1 US Federal Laws and Regulations on New Energy Grid Interconnections
          7.2.2.3.2 California Inverter Standards
          7.2.2.3.3 California Electrical Code
      7.2.3 India Solar Industry Standards
        7.2.3.1 Guidelines for Solar PV Inverters Approved in India
      7.2.4 Australia Industry Standards Applicable to Micro-Inverters
        7.2.4.1 Australian Standards relevant to Microinverter Installation and Maintenance
      7.2.5 China Solar Industry Standards
      7.2.6 Japan Solar Industry Standards
        7.2.6.1 The New FIT Program
      7.2.7 European Union Solar Industry Standards
        7.2.7.1 National renewable energy action plans 2020
        7.2.7.2 Guidelines under the Photovoltaics Industry
          7.2.7.2.1 European Solar Test Installation
          7.2.7.2.2 Contribution to Standards
  8 VALUE CHAIN ANALYSIS
    8.1 General Overview
      8.1.1 Solar Value Chain Players
        8.1.1.1 Diversification: Pure play versus Conglomerate
        8.1.1.2 Vertical Integration
  9 INDUSTRY ANALYSIS SOLAR MICROINVERTER
    9.1 General Overview
      9.1.1 Working Model of Solar Microinverter
      9.1.2 Cost Analysis of Solar Microinverter
      9.1.3 Installation Procedure of Solar Microinverter
  10 SOLAR PROJECTS & CASE STUDIES UNDERTAKEN IN SOLAR INDUSTRY
    10 General Overview
    10 Projects Undertaken by Petra Systems
    10 Case Studies  
      10.3.1 Case Study: Harvesting 36% Energy Boost with Tigo’s Retrofitted Optimization
        10.3.1.1 Summary
      10.3.2 China is addressing the limited roof space and shading challenges with TS4MLPE
        10.3.2.1 Summary
      10.3.3 10% Over PV Watts Projection
      10.3.4 8% Side by Side Improvement
        10.3.4.1 Summary
  11 MARKET INSIGHTS BY MICROINVERTER TYPE
    11 General Overview
      11.1.1 Single Phase Microinverter
      11.1.2 Three Phase Microinverter
  12 MARKET INSIGHTS BY CONNECTIVITY
    12 General Overview
      12.1.1 Integrated Connectivity
      12.1.2 Stand Alone Connectivity
  13 MARKET INSIGHTS BY DISTRIBUTION CHANNEL
    13 General Overview
      13.1.1 Direct Distribution Channel
      13.1.2 Indirect Distribution Channel
  14 MARKET INSIGHTS BY END-USERS
    14 General Overview
      14.1.1 Residential End-users
      14.1.2 Commercial End-users
      14.1.3 Government Incentives and Rebates: Solar incentives available to homeowners & businesses
        14.1.3.1 Investment tax credit for solar
        14.1.3.2 State tax credits
        14.1.3.3 Cash rebates
        14.1.3.4 Solar renewable energy certificates (SRECs)
        14.1.3.5 Performance-based incentives (PBIs)
      14.1.4 Other incentives for solar
        14.1.4.1 Accelerated depreciation
        14.1.4.2 Subsidized loans
        14.1.4.3 Tax exemptions
  15 MARKET INSIGHTS BY REGION
    15 General Overview
    15 North America Solar Microinverter Market (2018-2025)
      15.2.1 North America Solar Microinverter Market, By Type
      15.2.2 North America Solar Microinverter Market, By Connectivity
      15.2.3 North America Solar Microinverter Market, By Distribution Channel
      15.2.4 North America Solar Microinverter Market, By End Users
      15.2.5 North America Solar Microinverter Market, By Country
        15.2.5.1 United States Solar Microinverter Market (2018-2025)
          15.2.5.1.1 US Solar Microinverter Market, By Type
          15.2.5.1.2 US Solar Microinverter Market, By Connectivity
          15.2.5.1.3 US Solar Microinverter Market, By Distribution Channel
          15.2.5.1.4 US Solar Microinverter Market, By End-users
        15.2.5.2 Canada Solar Microinverter Market (2018-2025)
        15.2.5.3 Cost of Solar Power In Canada 2019
          15.2.5.3.1 Canada Solar Microinverter Market, By Type
          15.2.5.3.2 Canada Solar Microinverter Market, By Connectivity
          15.2.5.3.3 Canada Solar Microinverter Market, By Distribution Channel
          15.2.5.3.4 Canada Solar Microinverter Market, By End-users
        15.2.5.4 Rest of North America Solar Microinverter Market (2018-2025)
          15.2.5.4.1 Rest of NA Solar Microinverter Market, By Type
          15.2.5.4.2 Rest of NA Solar Microinverter Market, By Connectivity
          15.2.5.4.3 Rest of NA Solar Microinverter Market, By Distribution Channel
          15.2.5.4.4 Rest of NA Solar Microinverter Market, By End-user
    15 Europe Solar Microinverter Market Insights (2019-2025)
      15.3.1 Top European Solar PV Markets Prospects
      15.3.2 Europe Solar Microinverter Market, By Type
      15.3.3 Europe Solar Microinverter Market, By Connectivity
      15.3.4 Europe Solar Microinverter Market, By Distribution Channel
      15.3.5 Europe Solar Microinverter Market, By End-users
      15.3.6 Europe Solar Microinverter Market, By Country
        15.3.6.1 Germany Solar Microinverter Market
        15.3.6.2 Facts on German Solar Energy Demand
          15.3.6.2.1 Germany Solar Microinverter Market, By Type
          15.3.6.2.2 Germany Solar Microinverter Market, By Connectivity
          15.3.6.2.3 Germany Solar Microinverter Market, By Distribution Channel
          15.3.6.2.4 Germany Solar Microinverter Market, By End-Users
        15.3.6.3 Italy Solar Microinverter Market (2019-2025)
          15.3.6.3.1 Italy Solar Microinverter Market, By Type
          15.3.6.3.2 Italy Solar Microinverter Market, By Connectivity
          15.3.6.3.3 Italy Solar Microinverter Market, By Distribution Channel
          15.3.6.3.4 Italy Solar Microinverter Market, By End-users
        15.3.6.4 United Kingdom Solar Microinverter Market (2019-2025)
          15.3.6.4.1 UK Solar Microinverter Market, By Type
          15.3.6.4.2 UK Solar Microinverter Market, By Connectivity
          15.3.6.4.3 UK Solar Microinverter Market, By Distribution Channel
          15.3.6.4.4 UK Solar Microinverter Market, By End-users
        15.3.6.5 Belgium Solar Microinverter Market (2019-2025)
          15.3.6.5.1 Belgium Solar Microinverter Market, By Type
          15.3.6.5.2 Belgium Solar Microinverter Market, By Connectivity
          15.3.6.5.3 Belgium Solar Microinverter Market, By Distribution Channel
          15.3.6.5.4 Belgium Solar Microinverter Market, By End-users
        15.3.6.6 Netherlands Solar Microinverter Market (2019-2025)
          15.3.6.6.1 Netherlands Solar Microinverter Market, By Type
          15.3.6.6.2 Netherlands Solar Microinverter Market, By Connectivity
          15.3.6.6.3 Netherlands Solar Microinverter Market, By Distribution Channel
          15.3.6.6.4 Netherlands Solar Microinverter Market, By End-users
        15.3.6.7 France Solar Microinverter Market (2019-2025)
          15.3.6.7.1 France Solar Microinverter Market, By Type
          15.3.6.7.2 France Solar Microinverter Market, By Connectivity
          15.3.6.7.3 France Solar Microinverter Market, By Distribution Channel
          15.3.6.7.4 France Solar Microinverter Market, By End-users
        15.3.6.8 Rest of Europe Solar Microinverter Market (2019-2025)
          15.3.6.8.1 Rest of Europe Solar Microinverter Market, By Type
          15.3.6.8.2 Rest of Europe Solar Microinverter Market, By Connectivity
          15.3.6.8.3 Rest of Europe Solar Microinverter Market, By Distribution Channel
          15.3.6.8.4 Rest of Europe Solar Microinverter Market, By End-users
    15 Asia Pacific Solar Inverter Market Insights (2019-2025)
      15.4.1 Asia-Pacific Solar Microinverter Market, By Type
      15.4.2 Asia-Pacific Solar Microinverter Market, By Connectivity
      15.4.3 Asia-Pacific Solar Microinverter Market, By Distribution Channel
      15.4.4 Asia-Pacific Solar Microinverter Market, By End-users
      15.4.5 Asia-Pacific Solar Microinverter Market, By Country
        15.4.5.1 China Solar Microinverter Market (2019-2025)
          15.4.5.1.1 China Solar Microinverter Market, By Type
          15.4.5.1.2 China Solar Microinverter Market, By Connectivity
          15.4.5.1.3 China Solar Microinverter Market, By Distribution Channel
          15.4.5.1.4 China Solar Microinverter Market, By End-users
        15.4.5.2 India Solar Microinverter Market (2019-2025)
        15.4.5.3 Facts on Renewable Energy India, 2018 (IBEF)
          15.4.5.3.1 India Solar Microinverter Market, By Type
          15.4.5.3.2 India Solar Microinverter Market, By Connectivity
          15.4.5.3.3 India Solar Microinverter Market, By Distribution Channel
          15.4.5.3.4 India Solar Microinverter Market, By End-users
        15.4.5.4 Japan Solar Microinverter Market (2019-2025)
        15.4.5.5 Overview of Japan Installed PV Capacity, 2018
          15.4.5.5.1 Japan Solar Microinverter Market, By Type
          15.4.5.5.2 Japan Solar Microinverter Market, By Connectivity
          15.4.5.5.3 Japan Solar Microinverter Market, By Distribution Channel
          15.4.5.5.4 Japan Solar Microinverter Market, By End-users
        15.4.5.6 Australia Solar Microinverter Market (2019-2025)
          15.4.5.6.1 Australia Solar Microinverter Market, By Type
          15.4.5.6.2 Australia Solar Microinverter Market, By Connectivity
          15.4.5.6.3 Australia Solar Microinverter Market, By Distribution Channel
          15.4.5.6.4 Australia Solar Microinverter Market, By End-users
        15.4.5.7 Rest of Asia Pacific Solar Microinverter Market (2019-2025)
          15.4.5.7.1 Rest of APAC Solar Microinverter Market, By Type
          15.4.5.7.2 Rest of APAC Solar Microinverter Market, By Connectivity
          15.4.5.7.3 Rest of APAC Solar Microinverter Market, By Distribution Channel
          15.4.5.7.4 Rest of APAC Solar Microinverter Market, By End-users
    16 Rest of World Solar Microinverters Market Insights
      15.5.1 Rest of World Solar Microinverter Market, By Type
      15.5.2 Rest of World Solar Microinverter Market, By Connectivity
      15.5.3 Rest of World Solar Microinverter Market, By Distribution Channel
      15.5.4 Rest of World Solar Microinverter Market, By End-users
  16 COMPETITIVE SCENARIO
    16 Porter’s Five forces analysis
      16.1.1 Bargaining power of Supplier
      16.1.2 Bargaining power of Buyer
      16.1.3 Industry Rivalry
      16.1.4 Availability of Substitute
      16.1.5 Threat of new Entrants
    16 Competitive Landscape
      16.2.1 Market Share of Key Players in Solar Microinverter Market, 2018
  17 TOP COMPANY PROFILES
    17 SMA Solar Technology AG
      17.1.1 Key Facts  
      17.1.2 Business Description
      17.1.3 Key Product/Services Offerings
      17.1.4 SMA Mission and Vision
      17.1.5 Best Solutions Offered by SMA
      17.1.6 Growth Strategies Adopted by SMA
      17.1.7 SWOT Analysis
      17.1.8 SMA Key Financials
        17.1.8.1 Revenue Split
        17.1.8.2 Financial Overview of SMA
      17.1.9 Recent Developments
        17.1.9.1 Product Launches
        17.1.9.2 Strategic Alliance (Partnerships)
        17.1.9.3 Business Expansions
    17 Altenergy Power System Inc.
      17.2.1 Key Facts  
      17.2.2 Business Description
      17.2.3 Geographical Presence of AP Systems
      17.2.4 Key Product/Services Offerings
      17.2.5 Growth Strategy
      17.2.6 Global Partners of AP Systems
      17.2.7 SWOT Analysis
      17.2.8 Recent Developments
        17.2.8.1 Product Launches
        17.2.8.2 Partnership
        17.2.8.3 Business Expansions and Investment
    17 Northern Electric & Power Inc
      17.3.1 Key Facts  
      17.3.2 Business Description
      17.3.3 Key Product/Services Offerings
      17.3.4 Northern Electric and Power Inc Certifications
      17.3.5 Growth Strategies Adopted by Northern Electric and Power Inc
      17.3.6 Key Financials
        17.3.6.1 Financial Overview of Northern Electric and Power Inc
      17.3.7 Recent Developments
        17.3.7.1 Product Launches
        17.3.7.2 Business Expansions
    17 Darfon Electronics Corp.
      17.4.1 Key Facts  
      17.4.2 Business Description
      17.4.3 Key Product/Services Offerings
      17.4.4 Growth Strategy
      17.4.5 SWOT Analysis
      17.4.6 Key Financials
        17.4.6.1 Revenue Split
        17.4.6.2 Financial Overview of Darfon
      17.4.7 Recent Developments
        17.4.7.1 Product Launches
    18 Chilicon Power
      17.5.1 Key Facts  
      17.5.2 Business Description
      17.5.3 Key Product/Services Offerings
      17.5.4 Chillicon Power Key Strengths
      17.5.5 Recent Developments
        17.5.5.1 Product Launches
        17.5.5.2 Strategic Alliance
    18 Sparq Systems
      17.6.1 Key Facts  
      17.6.2 Business Description
      17.6.3 Key Product/Services Offerings
      17.6.4 SWOT Analysis
      17.6.5 Recent Developments
        17.6.5.1 Product Launches
        17.6.5.2 Strategic Alliance (Partnerships)
        17.6.5.3 Business Expansion (Investments)
    18 Solar Edge Technologies
      17.7.1 Key Facts  
      17.7.2 Business Description
      17.7.3 Product segmentation of Solar Edge Technologies
      17.7.4 Solar Edge Partner List
      17.7.5 Solar Edge Technologies Growth Strategy
      17.7.6 SWOT Analysis
      17.7.7 Facts on Inverters Shipments
      17.7.8 Key Financials
        17.7.8.1 Revenue Split
        17.7.8.2 Financial Overview of Solar Edge Technologies
      17.7.9 Recent Developments
        17.7.9.1 Product Launch
        17.7.9.2 Strategic Alliances
        17.7.9.3 Business Expansion
        17.7.9.4 Merger & Acquisitions
    18 Fimer SPA  
      17.8.1 Key Facts  
      17.8.2 Business Description
      17.8.3 Geographical Presence of Firmer SPA
      17.8.4 Brand Image of Firmer SPA
      17.8.5 Key Insights
      17.8.6 Key Product Offerings by Fimer SPA
      17.8.7 Milestones Achieved
      17.8.8 Fimer SPA Growth Strategy
      17.8.9 Fimer SPA Key Strengths
      17.8.10 SWOT Analysis
      17.8.11 Key Financials
        17.8.11.1 Revenue Split
        17.8.11.2 Financial Overview of Fimer SPA
      17.8.12 Recent Developments
        17.8.12.1 Business Expansions & Investments
        17.8.12.2 Partnership
        17.8.12.3 Merger& Acquisitions
    18 Enphase Energy Inc
      17.9.1 Key Facts  
      17.9.2 Business Description
      17.9.3 Key Product/Services Offerings
      17.9.4 Energy Management Systems Offered by Enphase
      17.9.5 Global Partners of Enphase Energy Inc
      17.9.6 Milestones Achieved
      17.9.7 Overview of Enphase Energy Inc
      17.9.8 Enphase Energy Inc SWOT Analysis
      17.9.9 Enphase Energy Inc Growth Strategy
      17.9.10 Key Financials
        17.9.10.1 Revenue Split
        17.9.10.2 Financial Overview of Enphase Energy Inc
      17.9.11 Recent Developments
        17.9.11.1 Product Launches
        17.9.11.2 Strategic Alliance
        17.9.11.3 Business Expansions
        17.9.11.4 Merger & Acquisitions
    17.10 Green Rays Enersol Pvt Ltd
      17.10.1 Key Facts  
      17.10.2 Business Description
      17.10.3 Key Product/Service Offerings
        17.10.3.1 Product Reach
      17.10.4 Client Base of Green Rays
      17.10.5 Green Rays, Mission & Vision

Research Methodology for Solar Micro Inverter Market

Analyzing historical market, estimation of the current market and forecasting the future market for solar microinverter technology were the three major steps undertaken to create and analyze the adoption trend of solar microinverter in major regions/countries worldwide. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted with industry experts across value chain of the solar micro inverter market. Post all the assumptions, market sizing and validation of market numbers through primary interviews, bottom-up approach was employed to forecast the complete market size of solar microinverter at regional/country level. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary research was conducted to obtain the historical market size of the solar micro inverter through company internal sources such as annual report & financial statements, performance presentations, press releases, inventory records, sales figures etc., and external sources including trade journals, news & articles, government publications, economic data, competitor publications, sector reports, regulatory bodies publications, safety standard organizations, third-party database and other credible publications. For economic data collection, sources such as Trading Economics and Trade Map, World Bank, IMF among others were used.

Step 2: Market Segmentation:

After obtaining the historical market size of the solar microinverter technology, detailed secondary analysis was conducted to gather historical market size and share of different segments & sub-segments of the sector. Major segments included in the report are inverter type, connectivity, distribution channel and end-users. Further analysis was also done for different regions/countries to analyze the overall adoption of the technology.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, detailed factor analysis was conducted to estimate the current market size of the solar micro inverter market. Factor analysis was conducted using dependent and independent variables such as purchasing power, consumer behavior, adoption level of solar panels, cost of solar microinverters etc. The demand and supply-side scenario were also thoroughly studied through analyzing top partnerships, top merger and acquisition, top business expansion, top product launches and emergence of start-ups in the solar microinverter industry.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at current market size, key players in the solar microinverter market and their market shares. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were validated through primary interviews through key opinion leaders in the market.

Estimation & Forecasting: For market estimation and forecast, weight was assigned to different factors including drivers & trends, restraints, and opportunities the industry witnesses. After analyzing these factors, relevant forecasting techniques i.e. Bottom-up approach was applied to arrive at the market forecast pertaining to 2025 for different segments and sub-segments in major regions/countries globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and penetration rate of solar microinverter technology in major region/country
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the solar microinverter industry with key focus on product portfolio, technologies offered as well as their market share. Also, the growth strategies adopted by these players to compete in the ever-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) in major regions/countries. Primary research findings were summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment pertaining to the solar micro inverter market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of components and applications of the solar microinverter.

Main objective of the Solar Micro Inverter Market Study

The current & future market trends of solar microinverter technology are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market not only at regional but also at the country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of solar microinverter technology in terms of value (US$). Also analyze the current and forecast market size of different segments and sub-segments of the technology
  • Segments in the study include microinverter type, connectivity, distribution channel and end-users
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors pertaining to the industry
  • Define and analysis of the government regulations for solar microinverter at the global scale
  • Detailed analysis of used case study of the solar microinverter technology
  • Analyze the current and forecast market size of solar microinverter for major regions/countries globally. Major regions studied in the report include North America, Europe, Asia-Pacific and the Rest of the world. Further country-level analysis is also conducted in the report

Define and analyze the competitive landscape of the solar micro inverter and the growth strategies adopted by the market players to sustain in the ever-growing market in major regions/countries globally

Research Methodology for Solar Micro Inverter Market

Analyzing historical market, estimation of the current market and forecasting the future market for solar microinverter technology were the three major steps undertaken to create and analyze the adoption trend of solar microinverter in major regions/countries worldwide. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted with industry experts across value chain of the solar micro inverter market. Post all the assumptions, market sizing and validation of market numbers through primary interviews, bottom-up approach was employed to forecast the complete market size of solar microinverter at regional/country level. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary research was conducted to obtain the historical market size of the solar micro inverter through company internal sources such as annual report & financial statements, performance presentations, press releases, inventory records, sales figures etc., and external sources including trade journals, news & articles, government publications, economic data, competitor publications, sector reports, regulatory bodies publications, safety standard organizations, third-party database and other credible publications. For economic data collection, sources such as Trading Economics and Trade Map, World Bank, IMF among others were used.

Step 2: Market Segmentation:

After obtaining the historical market size of the solar microinverter technology, detailed secondary analysis was conducted to gather historical market size and share of different segments & sub-segments of the sector. Major segments included in the report are inverter type, connectivity, distribution channel and end-users. Further analysis was also done for different regions/countries to analyze the overall adoption of the technology.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, detailed factor analysis was conducted to estimate the current market size of the solar micro inverter market. Factor analysis was conducted using dependent and independent variables such as purchasing power, consumer behavior, adoption level of solar panels, cost of solar microinverters etc. The demand and supply-side scenario were also thoroughly studied through analyzing top partnerships, top merger and acquisition, top business expansion, top product launches and emergence of start-ups in the solar microinverter industry.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at current market size, key players in the solar microinverter market and their market shares. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were validated through primary interviews through key opinion leaders in the market.

Estimation & Forecasting: For market estimation and forecast, weight was assigned to different factors including drivers & trends, restraints, and opportunities the industry witnesses. After analyzing these factors, relevant forecasting techniques i.e. Bottom-up approach was applied to arrive at the market forecast pertaining to 2025 for different segments and sub-segments in major regions/countries globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and penetration rate of solar microinverter technology in major region/country
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the solar microinverter industry with key focus on product portfolio, technologies offered as well as their market share. Also, the growth strategies adopted by these players to compete in the ever-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) in major regions/countries. Primary research findings were summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment pertaining to the solar micro inverter market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of components and applications of the solar microinverter.

Main objective of the Solar Micro Inverter Market Study

The current & future market trends of solar microinverter technology are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market not only at regional but also at the country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of solar microinverter technology in terms of value (US$). Also analyze the current and forecast market size of different segments and sub-segments of the technology
  • Segments in the study include microinverter type, connectivity, distribution channel and end-users
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors pertaining to the industry
  • Define and analysis of the government regulations for solar microinverter at the global scale
  • Detailed analysis of used case study of the solar microinverter technology
  • Analyze the current and forecast market size of solar microinverter for major regions/countries globally. Major regions studied in the report include North America, Europe, Asia-Pacific and the Rest of the world. Further country-level analysis is also conducted in the report

Define and analyze the competitive landscape of the solar micro inverter and the growth strategies adopted by the market players to sustain in the ever-growing market in major regions/countries globally


Solar Microinverter Market: Current Scenario and Forecast (2019-2025)