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Global Micro Inverter Market: By Technology: Wired, Wireless; By Type: Single Phase, Three Phase; By Connection: Stand-Alone, Grid-Connected; By End Use: Residential, Commercial; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

Global Micro Inverter Market Outlook

The global micro inverter market attained a value of nearly USD 2.11 billion in 2021. The market is further expected to grow in the forecast period of 2022-2027 at a CAGR of 27.8% to reach about USD 9.2 billion by 2027.

 

Rising Use of Micro inverters in Solar Panels is Pushing the Growth of the Market

Micro inverters provide a number of technical advantages over other types of solar inverters, such as string and central inverters, which is a major factor fuelling the growth of the market. Micro inverters are located beneath each solar panel and convert direct current (DC) power produced by a single solar panel, unlike conventional inverters, which are placed at a distance from the solar array and can monitor a number of solar panels at the same time. This feature allows micro inverters to work independently and improve efficiency of the solar panels. This is providing impetus to the market growth.

 

Global Micro Inverter Market

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In addition to this,  micro inverters deliver the maximum potential of the photovoltaic (PV) system. The added advantage of micro inverters to maintain a stable and continuous power flow despite shading of one or more of the solar panels  has enhanced their popularity among end users, thereby furthering the growth of the market. As a result, the rising use of micro inverters in solar panels is driving the growth of the market.

 

Micro Inverter: Industry Definition and Segmentation

A micro inverter is referred to as a device that converts direct current energy produced by solar panels into usable electricity. Each micro inverter is connected to a single solar panel for maximum control and dependability.

The market can be broadly categorised on the basis of technology into:

  • Wired 
  • Wireless

Based on type, the market can be segmented into:

  • Single Phase
  • Three Phase

The market, based on connection, can be classified into:

  • Stand-Alone
  • Grid-Connected

On the basis of end use, the market can be divided into:

  • Residential
  • Commercial

The EMR report looks into the regional markets of micro inverter like North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.

 

The Hardware Components of Micro Inverters are Leading the Growth of the Market

The growth in the market is projected to be driven by the hardware components of micro-inverter, which includes capacitors, sensors, and microcontroller units (MCUs), among other electric components.  As these  components help in converting DC power from a panel to AC power, they are considered as the key components of the micro inverter system. This is providing impetus to the market growth. In addition to this, AC power is delivered through wires and cables for home and commercial applications. Thus, the hardware components of micro inverters are enhancing the growth of the market. Moreover, as solar panels with micro inverters can be directly integrated, and each panel can be monitored, the market is further growing.

 

Key Industry Players in the Global Micro Inverter Market

The report presents a detailed analysis of the following key players in the global micro inverter market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Enphase Energy, Inc.
  • Siemens AG
  • Chilicon Power, LLC
  • Sensata Technologies, Inc. 
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

REPORT FEATURES DETAILS
Base Year 2021
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Technology, Type, Connection, End Use, Region
Breakup by Technology Wired, Wireless
Breakup by Type Single Phase, Three Phase
Breakup by Connection Stand-Alone, Grid-Connected
Breakup by End Use Residential, Commercial
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Enphase Energy, Inc., Siemens AG, Chilicon Power, LLC, Sensata Technologies, Inc., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Micro Inverter Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Micro Inverter Historical Market (2017-2021) 
    8.3    Global Micro Inverter Market Forecast (2022-2027)
    8.4    Global Micro Inverter Market by Technology
        8.4.1    Wired
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Wireless
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
    8.5    Global Micro Inverter Market by Type
        8.5.1    Single Phase
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Three Phase
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
    8.6    Global Micro Inverter Market by Connection
        8.6.1    Stand-Alone
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    Grid-Connected
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
    8.7    Global Micro Inverter Market by End Use
        8.7.1    Residential
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2017-2021)
            8.7.1.3    Forecast Trend (2022-2027)
        8.7.2    Commercial
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2017-2021)
            8.7.2.3    Forecast Trend (2022-2027)
    8.8    Global Micro Inverter Market by Region
        8.8.1    Market Share
            8.8.1.1    North America
            8.8.1.2    Europe
            8.8.1.3    Asia Pacific
            8.8.1.4    Latin America
            8.8.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    Enphase Energy, Inc.
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Siemens AG
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Chilicon Power, LLC
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Sensata Technologies, Inc.
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Others
13    Industry News and Development

 

List of Figures and Tables

1.    Global Micro Inverter Market: Key Industry Highlights, 2017 and 2027
2.    Global Micro Inverter Historical Market: Breakup by Technology (USD Billion), 2017-2021
3.    Global Micro Inverter Market Forecast: Breakup by Technology (USD Billion), 2022-2027
4.    Global Micro Inverter Historical Market: Breakup by Type (USD Billion), 2017-2021
5.    Global Micro Inverter Market Forecast: Breakup by Type (USD Billion), 2022-2027
6.    Global Micro Inverter Historical Market: Breakup by Connection (USD Billion), 2017-2021
7.    Global Micro Inverter Market Forecast: Breakup by Connection (USD Billion), 2022-2027
8.    Global Micro Inverter Historical Market: Breakup by End Use (USD Billion), 2017-2021
9.    Global Micro Inverter Market Forecast: Breakup by End Use (USD Billion), 2022-2027
10.    Global Micro Inverter Historical Market: Breakup by Region (USD Billion), 2017-2021
11.    Global Micro Inverter Market Forecast: Breakup by Region (USD Billion), 2022-2027
12.    North America Micro Inverter Historical Market: Breakup by Country (USD Billion), 2017-2021
13.    North America Micro Inverter Market Forecast: Breakup by Country (USD Billion), 2022-2027
14.    Europe Micro Inverter Historical Market: Breakup by Country (USD Billion), 2017-2021
15.    Europe Micro Inverter Market Forecast: Breakup by Country (USD Billion), 2022-2027
16.    Asia Pacific Micro Inverter Historical Market: Breakup by Country (USD Billion), 2017-2021
17.    Asia Pacific Micro Inverter Market Forecast: Breakup by Country (USD Billion), 2022-2027
18.    Latin America Micro Inverter Historical Market: Breakup by Country (USD Billion), 2017-2021
19.    Latin America Micro Inverter Market Forecast: Breakup by Country (USD Billion), 2022-2027
20.    Middle East and Africa Micro Inverter Historical Market: Breakup by Country (USD Billion), 2017-2021
21.    Middle East and Africa Micro Inverter Market Forecast: Breakup by Country (USD Billion), 2022-2027
22.    Global Micro Inverter Market Structure

Key Questions Answered in the Report

The global micro inverter market attained a value of nearly USD 2.11 billion in 2021.

The market is projected to grow at a CAGR of 27.8% between 2022 and 2027.

The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach about USD 9.2 billion by 2027.

The ability of micro-inverters to operate individually without being affected by other panels to produce maximum output is invigorating the growth of the market.

The market is being determined by the technological innovations in the industry.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major technologies of micro inverters are wired and wireless.

The different types of micro inverters in the industry are single phase and three phase.

Based on connection, the different types of micro-inverters are  stand -alone and grid-connected.

The major end uses of micro inverters include residential and commercial.

The major players in the industry are Enphase Energy, Inc., Siemens AG, Chilicon Power, LLC, and Sensata Technologies, Inc., among others.

Analyst Review

The global micro inverter market attained a value of about USD 2.11 billion in 2021, driven by the technical advances of micro inverters.  Aided by the hardware components of micro-inverters,  the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 27.8% to reach approximately USD 9.2 billion by 2027.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of technology, the market can be divided into wired and wireless. Based on type, the  market can be segmented into single phase and three phases.  On the basis of connection, the market is segmented into stand-alone and grid-connected. The market, based on end use, can be categorised into into residential and commercial. The major regional markets for micro inverter are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Enphase Energy, Inc., Siemens AG, Chilicon Power, LLC, and Sensata Technologies, Inc., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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