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Solar Microinverter Trends and Forecast
The future of the global solar microinverter market looks promising with opportunities in the residential and commercial markets. The global solar microinverter market is expected to reach an estimated $1.3 billion by 2030 with a CAGR of 18.5% from 2024 to 2030. The major drivers for this market are increasing embrace of solar energy as a means to decrease carbon emissions and uphold sustainability principles, growing trend of optimizing individual solar panels for enhanced performance, and increasing need for improved effectiveness and dependability.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Solar Microinverter by Segment
The study includes a forecast for the global solar microinverter by component, connectivity, type, application, and region.
Solar Microinverter Market by Component [Shipment Analysis by Value from 2018 to 2030]:
• Hardware
• Software
Solar Microinverter Market by Connectivity [Shipment Analysis by Value from 2018 to 2030]:
• Standalone
• On-Grid
Solar Microinverter Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Single Phase
• Three Phase
Solar Microinverter Market by Connectivity [Shipment Analysis by Value from 2018 to 2030]:
• Residential
• Commercial
• Others
Solar Microinverter Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Solar Microinverter Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies solar microinverter companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the solar microinverter companies profiled in this report include-
• Chilicon Power
• Enphase Energy
• Altenergy Power System
• SunPower Corporation
• Darfon Electronics Corporation
• Delta Energy Systems
• Siemens
• Alencon Systems
• Renesola
• Enluxsolar
Solar Microinverter Market Insights
Lucintel forecasts that hardware will remain the larger segment over the forecast period because hardware components encompass the tangible parts within a microinverter unit, including semiconductor devices, capacitors, transformers, and thermal management systems, as well as, it provides high stable energy production, reduces maintenance requirements, and increases customer satisfaction.
Within this market, residential will remain the larger segment over the forecast period because in residential settings the microinverters are seamlessly incorporated with individual solar panels ao as to effectively enhancing energy production by minimizing shading and panel mismatch challenges that results in each panel operating independently, thereby maximizing the overall systemÄX%$%Xs output.
APAC will remain the largest region over the forecast period due to rising need for energy to power a multitude of activities, supportive government programs, increasing environmental consciousness, and declining costs of solar panels in this region.
Features of the Global Solar Microinverter Market
Market Size Estimates: Solar microinverter market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Solar microinverter market size by various segments, such as by component, connectivity, type, application, and region in terms of ($B).
Regional Analysis: Solar microinverter market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different components, connectivity, types, applications, and regions for the solar microinverter market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the solar microinverter market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the solar microinverter market size?
Answer: The global solar microinverter market is expected to reach an estimated $1.3 billion by 2030.
Q.2 What is the growth forecast for solar microinverter market?
Answer: The global solar microinverter market is expected to grow with a CAGR of 18.5% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the solar microinverter market?
Answer: The major drivers for this market are increasing embrace of solar energy as a means to decrease carbon emissions and uphold sustainability principles, growing trend of optimizing individual solar panels for enhanced performance, and increasing need for improved effectiveness and dependability.
Q4. What are the major segments for solar microinverter market?
Answer: The future of the solar microinverter market looks promising with opportunities in the residential and commercial markets.
Q5. Who are the key solar microinverter market companies?
Answer: Some of the key solar microinverter companies are as follows:
• Chilicon Power
• Enphase Energy
• Altenergy Power System
• SunPower Corporation
• Darfon Electronics Corporation
• Delta Energy Systems
• Siemens
• Alencon Systems
• Renesola
• Enluxsolar
Q6. Which solar microinverter market segment will be the largest in future?
Answer: Lucintel forecasts that hardware will remain the larger segment over the forecast period because hardware components encompass the tangible parts within a microinverter unit, including semiconductor devices, capacitors, transformers, and thermal management systems, as well as, it provides high stable energy production, reduces maintenance requirements, and increases customer satisfaction.
Q7. In solar microinverter market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region over the forecast period due to rising need for energy to power a multitude of activities, supportive government programs, increasing environmental consciousness, and declining costs of solar panels in this region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the solar microinverter market by component (hardware and software), connectivity (standalone and on-grid), type (single phase and three phase), application (residential, commercial, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Solar Microinverter Market, Solar Microinverter Market Size, Solar Microinverter Market Growth, Solar Microinverter Market Analysis, Solar Microinverter Market Report, Solar Microinverter Market Share, Solar Microinverter Market Trends, Solar Microinverter Market Forecast, Solar Microinverter Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Solar Microinverter Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Solar Microinverter Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Solar Microinverter Market by Component
3.3.1: Hardware
3.3.2: Software
3.4: Global Solar Microinverter Market by Connectivity
3.4.1: Standalone
3.4.2: On-Grid
3.5: Global Solar Microinverter Market by Type
3.5.1: Single Phase
3.5.2: Three Phase
3.6: Global Solar Microinverter Market by Application
3.6.1: Residential
3.6.2: Commercial
3.6.3: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Solar Microinverter Market by Region
4.2: North American Solar Microinverter Market
4.2.2: North American Solar Microinverter Market by Application: Residential, Commercial, and Others
4.3: European Solar Microinverter Market
4.3.1: European Solar Microinverter Market by Component: Hardware and Software
4.3.2: European Solar Microinverter Market by Application: Residential, Commercial, and Others
4.4: APAC Solar Microinverter Market
4.4.1: APAC Solar Microinverter Market by Component: Hardware and Software
4.4.2: APAC Solar Microinverter Market by Application: Residential, Commercial, and Others
4.5: ROW Solar Microinverter Market
4.5.1: ROW Solar Microinverter Market by Component: Hardware and Software
4.5.2: ROW Solar Microinverter Market by Application: Residential, Commercial, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Solar Microinverter Market by Component
6.1.2: Growth Opportunities for the Global Solar Microinverter Market by Connectivity
6.1.3: Growth Opportunities for the Global Solar Microinverter Market by Type
6.1.4: Growth Opportunities for the Global Solar Microinverter Market by Application
6.1.5: Growth Opportunities for the Global Solar Microinverter Market by Region
6.2: Emerging Trends in the Global Solar Microinverter Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Solar Microinverter Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Solar Microinverter Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Chilicon Power
7.2: Enphase Energy
7.3: Altenergy Power System
7.4: SunPower Corporation
7.5: Darfon Electronics Corporation
7.6: Delta Energy Systems
7.7: Siemens
7.8: Alencon Systems
7.9: ReneSola
7.10: EnluxSolar
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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