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

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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

Published:

Nov-2019

Pages:

237

Table:

153

Figure:

108

Report ID:

UMSE19194

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Report Description
Table of content
Research Methodology

Report Description

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.

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 1.1Market Definition
  1.2Objective of the Study
  1.3Limitation 
  1.4Stakeholders 
  1.5Currency used in the Report
  1.6Scope of the Global Solar Microinverter Market Study
2.1Research Methodology for Global Solar Microinverter Market Study
   2.1.1Main objective of the Global Solar Microinverter Market Study
4.1Advantages of Microinverters:
  5.1Introduction 
  5.2Market Dynamics – Market Trend & Drivers
   5.2.1Escalating Urbanization and Infrastructural Development
   5.2.2Accelerating Research and Development
   5.2.3Falling Costs
   5.2.4Safer and Reliable
  5.3Market Challenges
   5.3.1High Cost of Installation and Repairing
  5.4Market Opportunities
   5.4.1Power Optimizers – An Equivalent Competitor
  6.1Demand Side Analysis
  6.2Supply Side Analysis
   6.2.1Product Launches
   6.2.2Major Strategic Alliances
   6.2.3Major Business Expansion and Investments
   6.2.4Mergers & Acquisitions
   6.2.5Key Facts on Solar Industry
   6.2.6Major Start Ups
  7.1General Overview
  7.2Standardization
   7.2.1Safety International Standards of Inverters
    7.2.1.1IEC 62109 – Safety of power converters for use in photovoltaic power systems
    7.2.1.2IEC 62093 – Balance-of-system components for photovoltaic systems
   7.2.2United States Inverter Standards
    7.2.2.1UL 1741-Standard for Inverters, Converters, Controllers and Interconnection Systems Equipment for Use with Distributed Energy Resources
    7.2.2.2UL 62109-Standard for Safety of power converters for use in photovoltaic power systems – Part 1: General requirements
    7.2.2.3Regulatory Jurisdiction for Renewable Energy Grid Interconnections in the United States
     7.2.2.3.1US Federal Laws and Regulations on New Energy Grid Interconnections
     7.2.2.3.2California Inverter Standards
     7.2.2.3.3California Electrical Code
   7.2.3India Solar Industry Standards
    7.2.3.1Guidelines for Solar PV Inverters Approved in India
   7.2.4Australia Industry Standards Applicable to Micro-Inverters
    7.2.4.1Australian Standards relevant to Microinverter Installation and Maintenance
   7.2.5China Solar Industry Standards
   7.2.6Japan Solar Industry Standards
    7.2.6.1The New FIT Program
   7.2.7European Union Solar Industry Standards
    7.2.7.1National renewable energy action plans 2020
    7.2.7.2Guidelines under the Photovoltaics Industry
     7.2.7.2.1European Solar Test Installation
     7.2.7.2.2Contribution to Standards
 8.1General Overview
   8.1.1Solar Value Chain Players
    8.1.1.1Diversification: Pure play versus Conglomerate
    8.1.1.2Vertical Integration
9.1General Overview
   9.1.1Working Model of Solar Microinverter
   9.1.2Cost Analysis of Solar Microinverter
   9.1.3Installation Procedure of Solar Microinverter
 10General Overview
  10Projects Undertaken by Petra Systems
  10Case Studies 
   10.3.1Case Study: Harvesting 36% Energy Boost with Tigo’s Retrofitted Optimization
    10.3.1.1Summary
   10.3.2China is addressing the limited roof space and shading challenges with TS4MLPE
    10.3.2.1Summary
   10.3.310% Over PV Watts Projection
   10.3.48% Side by Side Improvement
    10.3.4.1Summary
 11General Overview
   11.1.1Single Phase Microinverter
   11.1.2Three Phase Microinverter
 12General Overview
   12.1.1Integrated Connectivity
   12.1.2Stand Alone Connectivity
 13General Overview
   13.1.1Direct Distribution Channel
   13.1.2Indirect Distribution Channel
  14.1.1Residential End-users
   14.1.2Commercial End-users
   14.1.3Government Incentives and Rebates: Solar incentives available to homeowners & businesses
    14.1.3.1Investment tax credit for solar
    14.1.3.2State tax credits
    14.1.3.3Cash rebates
    14.1.3.4Solar renewable energy certificates (SRECs)
    14.1.3.5Performance-based incentives (PBIs)
   14.1.4Other incentives for solar
    14.1.4.1Accelerated depreciation
    14.1.4.2Subsidized loans
    14.1.4.3Tax exemptions
  15General Overview
  15North America Solar Microinverter Market (2018-2025)
   15.2.1North America Solar Microinverter Market, By Type
   15.2.2North America Solar Microinverter Market, By Connectivity
   15.2.3North America Solar Microinverter Market, By Distribution Channel
   15.2.4North America Solar Microinverter Market, By End Users
   15.2.5North America Solar Microinverter Market, By Country
    15.2.5.1United States Solar Microinverter Market (2018-2025)
     15.2.5.1.1US Solar Microinverter Market, By Type
     15.2.5.1.2US Solar Microinverter Market, By Connectivity
     15.2.5.1.3US Solar Microinverter Market, By Distribution Channel
     15.2.5.1.4US Solar Microinverter Market, By End-users
    15.2.5.2Canada Solar Microinverter Market (2018-2025)
    15.2.5.3Cost of Solar Power In Canada 2019
     15.2.5.3.1Canada Solar Microinverter Market, By Type
     15.2.5.3.2Canada Solar Microinverter Market, By Connectivity
     15.2.5.3.3Canada Solar Microinverter Market, By Distribution Channel
     15.2.5.3.4Canada Solar Microinverter Market, By End-users
    15.2.5.4Rest of North America Solar Microinverter Market (2018-2025)
     15.2.5.4.1Rest of NA Solar Microinverter Market, By Type
     15.2.5.4.2Rest of NA Solar Microinverter Market, By Connectivity
     15.2.5.4.3Rest of NA Solar Microinverter Market, By Distribution Channel
     15.2.5.4.4Rest of NA Solar Microinverter Market, By End-user
  15Europe Solar Microinverter Market Insights (2019-2025)
   15.3.1Top European Solar PV Markets Prospects
   15.3.2Europe Solar Microinverter Market, By Type
   15.3.3Europe Solar Microinverter Market, By Connectivity
   15.3.4Europe Solar Microinverter Market, By Distribution Channel
   15.3.5Europe Solar Microinverter Market, By End-users
   15.3.6Europe Solar Microinverter Market, By Country
    15.3.6.1Germany Solar Microinverter Market
    15.3.6.2Facts on German Solar Energy Demand
     15.3.6.2.1Germany Solar Microinverter Market, By Type
     15.3.6.2.2Germany Solar Microinverter Market, By Connectivity
     15.3.6.2.3Germany Solar Microinverter Market, By Distribution Channel
     15.3.6.2.4Germany Solar Microinverter Market, By End-Users
    15.3.6.3Italy Solar Microinverter Market (2019-2025)
     15.3.6.3.1Italy Solar Microinverter Market, By Type
     15.3.6.3.2Italy Solar Microinverter Market, By Connectivity
     15.3.6.3.3Italy Solar Microinverter Market, By Distribution Channel
     15.3.6.3.4Italy Solar Microinverter Market, By End-users
    15.3.6.4United Kingdom Solar Microinverter Market (2019-2025)
     15.3.6.4.1UK Solar Microinverter Market, By Type
     15.3.6.4.2UK Solar Microinverter Market, By Connectivity
     15.3.6.4.3UK Solar Microinverter Market, By Distribution Channel
     15.3.6.4.4UK Solar Microinverter Market, By End-users
    15.3.6.5Belgium Solar Microinverter Market (2019-2025)
     15.3.6.5.1Belgium Solar Microinverter Market, By Type
     15.3.6.5.2Belgium Solar Microinverter Market, By Connectivity
     15.3.6.5.3Belgium Solar Microinverter Market, By Distribution Channel
     15.3.6.5.4Belgium Solar Microinverter Market, By End-users
    15.3.6.6Netherlands Solar Microinverter Market (2019-2025)
     15.3.6.6.1Netherlands Solar Microinverter Market, By Type
     15.3.6.6.2Netherlands Solar Microinverter Market, By Connectivity
     15.3.6.6.3Netherlands Solar Microinverter Market, By Distribution Channel
     15.3.6.6.4Netherlands Solar Microinverter Market, By End-users
    15.3.6.7France Solar Microinverter Market (2019-2025)
     15.3.6.7.1France Solar Microinverter Market, By Type
     15.3.6.7.2France Solar Microinverter Market, By Connectivity
     15.3.6.7.3France Solar Microinverter Market, By Distribution Channel
     15.3.6.7.4France Solar Microinverter Market, By End-users
    15.3.6.8Rest of Europe Solar Microinverter Market (2019-2025)
     15.3.6.8.1Rest of Europe Solar Microinverter Market, By Type
     15.3.6.8.2Rest of Europe Solar Microinverter Market, By Connectivity
     15.3.6.8.3Rest of Europe Solar Microinverter Market, By Distribution Channel
     15.3.6.8.4Rest of Europe Solar Microinverter Market, By End-users
  15Asia Pacific Solar Inverter Market Insights (2019-2025)
   15.4.1Asia-Pacific Solar Microinverter Market, By Type
   15.4.2Asia-Pacific Solar Microinverter Market, By Connectivity
   15.4.3Asia-Pacific Solar Microinverter Market, By Distribution Channel
   15.4.4Asia-Pacific Solar Microinverter Market, By End-users
   15.4.5Asia-Pacific Solar Microinverter Market, By Country
    15.4.5.1China Solar Microinverter Market (2019-2025)
     15.4.5.1.1China Solar Microinverter Market, By Type
     15.4.5.1.2China Solar Microinverter Market, By Connectivity
     15.4.5.1.3China Solar Microinverter Market, By Distribution Channel
     15.4.5.1.4China Solar Microinverter Market, By End-users
    15.4.5.2India Solar Microinverter Market (2019-2025)
    15.4.5.3Facts on Renewable Energy India, 2018 (IBEF)
     15.4.5.3.1India Solar Microinverter Market, By Type
     15.4.5.3.2India Solar Microinverter Market, By Connectivity
     15.4.5.3.3India Solar Microinverter Market, By Distribution Channel
     15.4.5.3.4India Solar Microinverter Market, By End-users
    15.4.5.4Japan Solar Microinverter Market (2019-2025)
    15.4.5.5Overview of Japan Installed PV Capacity, 2018
     15.4.5.5.1Japan Solar Microinverter Market, By Type
     15.4.5.5.2Japan Solar Microinverter Market, By Connectivity
     15.4.5.5.3Japan Solar Microinverter Market, By Distribution Channel
     15.4.5.5.4Japan Solar Microinverter Market, By End-users
    15.4.5.6Australia Solar Microinverter Market (2019-2025)
     15.4.5.6.1Australia Solar Microinverter Market, By Type
     15.4.5.6.2Australia Solar Microinverter Market, By Connectivity
     15.4.5.6.3Australia Solar Microinverter Market, By Distribution Channel
     15.4.5.6.4Australia Solar Microinverter Market, By End-users
    15.4.5.7Rest of Asia Pacific Solar Microinverter Market (2019-2025)
     15.4.5.7.1Rest of APAC Solar Microinverter Market, By Type
     15.4.5.7.2Rest of APAC Solar Microinverter Market, By Connectivity
     15.4.5.7.3Rest of APAC Solar Microinverter Market, By Distribution Channel
     15.4.5.7.4Rest of APAC Solar Microinverter Market, By End-users
 16Porter’s Five forces analysis
   16.1.1Bargaining power of Supplier
   16.1.2Bargaining power of Buyer
   16.1.3Industry Rivalry
   16.1.4Availability of Substitute
   16.1.5Threat of new Entrants
  16Competitive Landscape
   16.2.1Market Share of Key Players in Solar Microinverter Market, 2018
 17SMA Solar Technology AG
   17.1.1Key Facts 
   17.1.2Business Description
   17.1.3Key Product/Services Offerings
   17.1.4SMA Mission and Vision
   17.1.5Best Solutions Offered by SMA
   17.1.6Growth Strategies Adopted by SMA
   17.1.7SWOT Analysis
   17.1.8SMA Key Financials
    17.1.8.1Revenue Split
    17.1.8.2Financial Overview of SMA
   17.1.9Recent Developments
    17.1.9.1Product Launches
    17.1.9.2Strategic Alliance (Partnerships)
    17.1.9.3Business Expansions
  17Altenergy Power System Inc.
   17.2.1Key Facts 
   17.2.2Business Description
   17.2.3Geographical Presence of AP Systems
   17.2.4Key Product/Services Offerings
   17.2.5Growth Strategy
   17.2.6Global Partners of AP Systems
   17.2.7SWOT Analysis
   17.2.8Recent Developments
    17.2.8.1Product Launches
    17.2.8.2Partnership
    17.2.8.3Business Expansions and Investment
  17Northern Electric & Power Inc
   17.3.1Key Facts 
   17.3.2Business Description
   17.3.3Key Product/Services Offerings
   17.3.4Northern Electric and Power Inc Certifications
   17.3.5Growth Strategies Adopted by Northern Electric and Power Inc
   17.3.6Key Financials
    17.3.6.1Financial Overview of Northern Electric and Power Inc
   17.3.7Recent Developments
    17.3.7.1Product Launches
    17.3.7.2Business Expansions
  17Darfon Electronics Corp.
   17.4.1Key Facts 
   17.4.2Business Description
   17.4.3Key Product/Services Offerings
   17.4.4Growth Strategy
   17.4.5SWOT Analysis
   17.4.6Key Financials
    17.4.6.1Revenue Split
    17.4.6.2Financial Overview of Darfon
   17.4.7Recent Developments
    17.4.7.1Product Launches
  18Chilicon Power
   17.5.1Key Facts 
   17.5.2Business Description
   17.5.3Key Product/Services Offerings
   17.5.4Chillicon Power Key Strengths
   17.5.5Recent Developments
    17.5.5.1Product Launches
    17.5.5.2Strategic Alliance
  18Sparq Systems
   17.6.1Key Facts 
   17.6.2Business Description
   17.6.3Key Product/Services Offerings
   17.6.4SWOT Analysis
   17.6.5Recent Developments
    17.6.5.1Product Launches
    17.6.5.2Strategic Alliance (Partnerships)
    17.6.5.3Business Expansion (Investments)
  18Solar Edge Technologies
   17.7.1Key Facts 
   17.7.2Business Description
   17.7.3Product segmentation of Solar Edge Technologies
   17.7.4Solar Edge Partner List
   17.7.5Solar Edge Technologies Growth Strategy
   17.7.6SWOT Analysis
   17.7.7Facts on Inverters Shipments
   17.7.8Key Financials
    17.7.8.1Revenue Split
    17.7.8.2Financial Overview of Solar Edge Technologies
   17.7.9Recent Developments
    17.7.9.1Product Launch
    17.7.9.2Strategic Alliances
    17.7.9.3Business Expansion
    17.7.9.4Merger & Acquisitions
  18Fimer SPA 
   17.8.1Key Facts 
   17.8.2Business Description
   17.8.3Geographical Presence of Firmer SPA
   17.8.4Brand Image of Firmer SPA
   17.8.5Key Insights
   17.8.6Key Product Offerings by Fimer SPA
   17.8.7Milestones Achieved
   17.8.8Fimer SPA Growth Strategy
   17.8.9Fimer SPA Key Strengths
   17.8.10SWOT Analysis
   17.8.11Key Financials
    17.8.11.1Revenue Split
    17.8.11.2Financial Overview of Fimer SPA
   17.8.12Recent Developments
    17.8.12.1Business Expansions & Investments
    17.8.12.2Partnership
    17.8.12.3Merger& Acquisitions
  18Enphase Energy Inc
   17.9.1Key Facts 
   17.9.2Business Description
   17.9.3Key Product/Services Offerings
   17.9.4Energy Management Systems Offered by Enphase
   17.9.5Global Partners of Enphase Energy Inc
   17.9.6Milestones Achieved
   17.9.7Overview of Enphase Energy Inc
   17.9.8Enphase Energy Inc SWOT Analysis
   17.9.9Enphase Energy Inc Growth Strategy
   17.9.10Key Financials
    17.9.10.1Revenue Split
    17.9.10.2Financial Overview of Enphase Energy Inc
   17.9.11Recent Developments
    17.9.11.1Product Launches
    17.9.11.2Strategic Alliance
    17.9.11.3Business Expansions
    17.9.11.4Merger & Acquisitions
  17.10Green Rays Enersol Pvt Ltd
   17.10.1Key Facts 
   17.10.2Business Description
   17.10.3Key Product/Service Offerings
    17.10.3.1Product Reach
   17.10.4Client Base of Green Rays
   17.10.5Green Rays, Mission & Vision

Research Methodology

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