Microinverters Market: An In-depth Analysis from 2018-2027, Highlighting Key Players, Types, Applications, Regional Trends, Opportunities, Challenges, and Risk Factors in the Competitive Landscape | Douglas Insights
Douglas Insights
Updated 8 min read
Douglas Insights
The study gives a broad overview of the world microinverter industry and examines the market trends. The research provides estimated market data for the forecast period of 2022 through 2027 using 2021 as the base year. The market values have been determined on the basis of the maximum income of the microinverter suppliers.
Isle of Man, Jan. 31, 2023 (GLOBE NEWSWIRE) -- A micro inverter is an electrical device used in photovoltaic systems that converts direct current from solar panels into alternating current. Such inverters are often placed separately on each solar panel to convert DC electricity to AC power at the device power source.
The micro-inverter market is made up of businesses that use the term "microinverter" to describe a small inverter that is fastened with every solar unit in a range to convert DC generated by solar panels to AC and sell light gauge steel framing. Solar power systems beat conventional inverter systems in terms of dependability and productivity by dispersing energy conversion to each module.
Three-phase and single-phase micro inverters are the two primary categories. PV modules' electricity is converted by an inverter into single-phase energy that can be used to power the grid or devices. Moreover, microinterters provide software and hardware services.
The market for micro inverters is anticipated to rise as more homes put solar panels on their rooftops. Each solar panel has a microinverter mounted behind it to change the direct power into alternating current.
Unlike traditional or string inverters, these microinverters function to the utmost extent and operate independently. As a result, the market for microinverters is anticipated to grow due to high demand for highly effective power saving technologies and an increase in suburban solar rooftop installation.
The micro-inverter market is being shaped by technological advancements. The businesses in the microinverter industry are rapidly creating cutting-edge products with features, such as simple installation and remote performance monitoring.
In 2021, the micro inverter market's largest region was North America. During the anticipated period, Asia-Pacific is anticipated to see the quickest growth in the worldwide micro inverter market. Africa, Middle East, India, Germany, South and North America, and Eastern and Western Europe, are the regions included in the worldwide micro inverter market analysis.
A micro inverter is an inverter that has been scaled down and is intended for use with single solar panels rather than strings of solar modules. It provides a number of advantages, such as increased safety, design flexibility, better optimization, and an easy installation process. Plus, by carrying out maximum power point tracking for the connected module, it aids in the generation of optimal power.
People are becoming more interested in using alternative energy sources and solar panels due to the rise in emission levels and the growing concerns about the depletion of fossil fuels. Increase in solar panel installations will eventually increase micro inverter sales because they are a crucial component of solar energy systems.
Similar to this, the world has seen a sharp increase in electricity consumption as a result of higher living standards, urbanization, and industrialization. Households utilize solar micro inverters to obtain an uninterrupted and a constant supply of electricity with lowered costs, promoting the growth of the micro inverter industry.
The size of the global micro inverter market will also increase due to the greater use of solar panels with integrated microinverters as well as improvements in microinverter technology. A microinverter operates on Module Level Power Electronics, which means that power conversion happens at the level of each individual module, in contrast to typical central or string inverters. By doing this, the system's overall efficiency is increased while reducing the negative effects of module mismatch.
During the projected period, the global micro inverter market is anticipated to expand drastically. Solar-generated direct current electricity is transformed into alternating current electricity using microinverters. Comparing this developing technology to string and central inverters, it offers highly enhanced power production and efficiency. The market for microinverters is being driven by the numerous advantages of government incentives, the expanding residential sector, and small-scale photovoltaic systems.
Government spending on renewable energy projects has steadily increased as people's understanding of sustainable energy has increased. Additionally, it is anticipated that technological developments in microinverter applications will accelerate market growth. However, the global market for microinverters is anticipated to suffer from issues including difficult maintenance, installation costs, and expensive capital expenditure.
The market has been divided into many categories in this study according to geography, end user, capacity, connectivity, and phase type. However, the report does not include utility-scale applications.
The study gives a broad overview of the world microinverter industry and examines the market trends. The research provides estimated market data for the forecast period of 2022 through 2027 using 2021 as the base year. The market values have been determined on the basis of the maximum income of the microinverter suppliers.
The report deeply covers the microinverter market with regards to the end-user base across various regions. Important problems and trends that could have an impact on the landscape of vendors and the industry are also highlighted in the Douglas Insights. The study projects the predicted market size through 2027 and assesses the size of the global microinverter market in 2021.
The global microinverter report by Douglas Insights includes the global market opportunities and trends, market segments, market share, and market size along with any additional data you may require access to thrive in the microinverter industry. This market research study on microinverters provides a comprehensive view of everything you require, together with a detailed analysis of the industry's future and present conditions.
The micro inverter industry is advancing due to technical advantages over other standard solar inverters, such as the ability to produce the most electricity from solar panels. Additionally, as worries over greenhouse gas emissions grow, there will likely be a rise in the demand for clean and sustainable energy, which will help the industry grow. Installations of solar photovoltaic systems for diverse purposes are becoming more common across the entire market.
Micro inverters are now an essential component of solar power systems. Micro inverter demand will consequently continue to grow over the course of the projection period as more people choose to install solar panels in their businesses and homes.
Consequently, the market for micro inverters will be driven in the future by the growing environmental concerns about rising carbon emission levels and the alarming rate of fossil fuel depletion.
Chapter 6 Market Breakdown by Capacity 6.1 ≤250 W Capacity 6.2 250 W-600 W Capacity 6.3 >600 W Capacity
Chapter 7 Market Breakdown by End User 7.1 Introduction 7.2 Residential 7.3 Commercial and Industrial
Chapter 8 Market Breakdown by Region 8.1 Total Global Value by Region 8.2 North America 8.2.1 U.S. 8.2.2 Canada 8.2.3 Mexico 8.3 Europe 8.3.1 United Kingdom 8.3.2 Germany 8.3.3 Spain 8.3.4 Netherlands 8.3.5 Rest of Europe 8.4 Asia-Pacific 8.4.1 China 8.4.2 Japan 8.4.3 India 8.4.4 South Korea 8.4.5 Rest of Asia-Pacific 8.5 South America 8.6 Rest of the World
Key questions answered in this report
COVID 19 impact analysis on global Microinverters industry.
What are the current market trends and dynamics in the Microinverters market and valuable opportunities for emerging players?
What is driving Microinverters market?
What are the key challenges to market growth?
Which segment accounts for the fastest CAGR during the forecast period?
Which product type segment holds a larger market share and why?
Are low and middle-income economies investing in the Microinverters market?
Key growth pockets on the basis of regions, types, applications, and end-users
What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Unique data points of this report
Statistics on Microinverters and spending worldwide
Recent trends across different regions in terms of adoption of Microinverters across industries
Notable developments going on in the industry
Attractive investment proposition for segments as well as geography
Comparative scenario for all the segments for years 2018 (actual) and 2028 (forecast)
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