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Microinverter Trends and Forecast
The future of the global microinverter market looks promising with opportunities in the residential, commercial, and PV power plant markets. The global microinverter market is expected to reach an estimated $8.7 billion by 2030 with a CAGR of 18.2% from 2024 to 2030. The major drivers for this market are increasing demand for efficient and reliable PV solutions and modernization of electric grids, coupled with smart grid initiatives.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Microinverter by Segment
The study includes a forecast for the global microinverter by type, communication technology, offering, application, and region.
Microinverter Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Single Phase
• Three Phase
Microinverter Market by Communication Technology [Shipment Analysis by Value from 2018 to 2030]:
• Wired
• Wireless
Microinverter Market by Offering [Shipment Analysis by Value from 2018 to 2030]:
• Hardware
• Software
Microinverter Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Residential
• Commercial
• PV Power Plant
• Others
Microinverter Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of 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 microinverter companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the microinverter companies profiled in this report include-
• Darfon Electronics
• Altenergy Power System
• Renesola
• Chilicon Power
• AEconversion
Microinverter Market Insights
Lucintel forecasts that hardware is expected to witness higher growth over the forecast period due to largest number of components such as capacitors, sensors, microcontroller units (MCUs), and others, and also transmission of AC power through wires and cables.
Within this market, residential will remain the largest segment due to growing number of residential solar rooftop pv installationswith supportive government policies worldwide.
North America is expected to witness highest growth over the forecast period due to it has largest share largest number of micro-inverter installations in the US and Canada.
Features of the Global Microinverter Market
Market Size Estimates: 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: Microinverter market size by various segments, such as by type, communication technology, offering, application, and region in terms of ($B).
Regional Analysis: Microinverter market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different type, communication technology, offering, application, and regions for the microinverter market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the microinverter market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the microinverter market size?
Answer: The global microinverter market is expected to reach an estimated $8.7 billion by 2030.
Q.2 What is the growth forecast for microinverter market?
Answer: The global microinverter market is expected to grow with a CAGR of 18.2% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the microinverter market?
Answer: The major drivers for this market are increasing demand for efficient and reliable pv solutions and modernization of electric grids, coupled with smart grid initiatives.
Q4. What are the major segments for microinverter market?
Answer: The future of the microinverter market looks promising with opportunities in the residential, commercial, and PV power plant markets.
Q5. Who are the key microinverter market companies?
Answer: Some of the key microinverter companies are as follows:
• Darfon Electronics
• Altenergy Power System
• ReneSola
• Chilicon Power
• AEconversion
Q6. Which microinverter market segment will be the largest in future?
Answer: Lucintel forecasts that hardware is expected to witness higher growth over the forecast period due to largest number of components such as capacitors, sensors, microcontroller units (MCUs), and others, and also transmission of AC power through wires and cables.
Q7. In microinverter market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period due to it has largest share largest number of micro-inverter installations in the US and Canada.
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 microinverter market by type (single phase and three phase), communication technology (wired and wireless), offering (hardware and software), application (residential, commercial, PV power plant, 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 Microinverter Market, Microinverter Market Size, Microinverter Market Growth, Microinverter Market Analysis, Microinverter Market Report, Microinverter Market Share, Microinverter Market Trends, Microinverter Market Forecast, 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 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 Microinverter Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Microinverter Market by Type
3.3.1: Single Phase
3.3.2: Three Phase
3.4: Global Microinverter Market by Communication Technology
3.4.1: Wired
3.4.2: Wireless
3.5: Global Microinverter Market by Offering
3.5.1: Hardware
3.5.2: Software
3.6: Global Microinverter Market by Application
3.6.1: Residential
3.6.2: Commercial
3.6.3: PV Power Plant
3.6.4: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Microinverter Market by Region
4.2: North American Microinverter Market
4.2.2: North American Microinverter Market by Application: Residential, Commercial, PV Power Plant, and Others
4.3: European Microinverter Market
4.3.1: European Microinverter Market by Offering: Hardware and Software
4.3.2: European Microinverter Market by Application: Residential, Commercial, PV Power Plant, and Others
4.4: APAC Microinverter Market
4.4.1: APAC Microinverter Market by Offering: Hardware and Software
4.4.2: APAC Microinverter Market by Application: Residential, Commercial, PV Power Plant, and Others
4.5: ROW Microinverter Market
4.5.1: ROW Microinverter Market by Offering: Hardware and Software
4.5.2: ROW Microinverter Market by Application: Residential, Commercial, PV Power Plant, 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 Microinverter Market by Type
6.1.2: Growth Opportunities for the Global Microinverter Market by Communication Technology
6.1.3: Growth Opportunities for the Global Microinverter Market by Offering
6.1.4: Growth Opportunities for the Global Microinverter Market by Application
6.1.5: Growth Opportunities for the Global Microinverter Market by Region
6.2: Emerging Trends in the Global Microinverter Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Microinverter Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Microinverter Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Darfon Electronics
7.2: Altenergy Power System
7.3: ReneSola
7.4: Chilicon Power
7.5: AEconversion
.
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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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