Global Micro Inverter Market Overview
Micro inverters are small inverters rated to handle the output of a single panel. Micro inverter, is a plug-and-play device used in photovoltaic that converts direct current generated by a single solar module to alternating current. Micro inverter will witness an increase in the market due to the increased use of the solar panel to store solar energy.
Micro Inverter Market has a very rapid growth in the commercial market. Micro inverters are being used extensively with solar panels for residential uses.
Micro inverters have been used widely in developed countries to increase the use of clean energy. Micro inverters are comparatively more reliable and compact compared to the conventional inverters used earlier for converting direct current generated by a single solar module to alternating current.
Global Micro Inverter Market Scenario
Micro inverters have witnessed significant growth in recent years in developed countries especially U.S. Micro inverter market is predicted to grow significantly in developed and developing countries according to research conducted by the company for the forecast period.
Micro inverter market is competitive owing to the presence of well-diversified international and regional players. Micro inverter uses have increased over time due to the increased use of solar energy.
Micro inverter is mostly used in developed countries as the initial cost of equipment in high. China, U.S., India and Japan dominate the market for the use of solar energy.
Micro inverter is an advanced method to convert solar energy to residential uses. Further, the micro inverters have a positive reaction from the end user side for its application and simplicity.
Global Micro Inverter Market Dynamics
Micro inverter market has a very strong market growth in the future due to the increased use of solar energy as an alternate for non-renewable energy. Micro inverter will replace the traditional solar invertors due to their compact size and more advanced technology to minimize errors.
Micro inverters will witness a rise in demand due to the increasing cost of non-renewable sources of energy. The higher initial cost related to equipment cost and the installation charges creates a drawback for the micro inverter to become a widely used technology across the globe. Micro inverter will witness a higher growth rate in developed countries compared to developing countries.
Global Micro Inverter Market Regional Overview
Micro invertor has a strong market in developed countries as they are matured markets with higher capitals and advanced technology. The micro inverter market in developing and under-developing countries are witnessed to see a strong growth rate in the forecast period as per research study conducted by the company.
Micro inverter market has a strong market in North America. U.S. along with China, India and Japan accounted for about 82% of global market share in the year 2017. Micro inverter market in Latin America and Europe are growing fast. Also, these regions have strategic plans for adopting this device for clean energy technology.
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Global Micro Inverter Market Key Players
Some of the key market participants in micro inverter market are-
- Darfon Electronics
- Altenergy Power System
- Altenergy Power System
- Chilicon Power
- Enphase Energy
The research report presents a comprehensive assessment of the micro inverter market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data.
It also includes projections using a suitable set of assumptions and methodologies. The micro inverter market report provides analysis and information according to market segments such as geographies, product type, and application.
The Micro Inverter Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe)
- CIS and Russia
- Asia-Pacific (China, India, ASEAN, South Korea)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The micro inverter report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The micro inverter report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The micro inverter report also maps the qualitative impact of various market factors on market segments and geographies.
An Adaptive Approach to Modern-day Research Needs
The Micro Inverter Market Report Highlights:
- A Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Global Micro Inverter Market Segmentation
Micro inverter market can be segmented on the basis of power capacity and peak invertor efficiency.
On the basis of power capacity, the micro inverter market can be segmented into
On the basis of type, the micro inverter market can be segmented into a
- Standalone micro inverter market
- Grid tied micro inverter market.
On the basis of application, the micro inverter market can be segmented as
On the basis of peak invertor efficiency, micro inverter market can be segmented into
- Below 95.5%
Geographically, the global market for the micro inverter can be segmented into seven regions namely:
- North America
- Latin America
- CIS & Russia
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