PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1477299
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1477299
Solar Micro Inverter Market, By Type, By Offering, By Power Rating, By Application, By Geography
The solar micro inverter market is estimated to be valued at US$ 32.14 Bn in 2024 and is expected to reach US$ 113.42 Bn by 2031, growing at a compound annual growth rate (CAGR) of 19.7% from 2024 to 2031.
| Report Coverage | Report Details | ||
|---|---|---|---|
| Base Year: | 2023 | Market Size in 2024: | US$ 32.14 Bn |
| Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
| Forecast Period 2024 to 2031 CAGR: | 19.70% | 2031 Value Projection: | US$ 113.42 Bn |
Micro inverters allow the optimal performance of each solar module individually to boost the overall system efficiency. Their use has increased the adoption of solar energy across the residential and commercial sectors.
Report Description:
The solar micro inverter market has been witnessing significant growth over the past few years. Solar micro inverter refers to the machinery used for manufacturing semiconductors such as integrated circuits (ICs) and microchips. These include etching equipment, deposition equipment, cleaning equipment, and ion implantation equipment among others.
With rapid technological advancements across industries, such as consumer electronics, automotive, industrial automation, and increasing demand for smart technologies, the demand for semiconductors is growing exponentially. This, in turn, is driving the need for advanced solar micro inverter for the large scale manufacturing of semiconductors. Additionally, increasing investments by key players as well as governments towards developing the domestic semiconductor ecosystem is expected to boost the solar micro inverter market growth during the forecast period.
Market Dynamics:
The key drivers propelling the solar micro inverter market include growing demand for consumer electronics, such as smartphones, laptops, and tablets, coupled with increasing adoption of Internet of Things (IoT) and connected devices across industries. Furthermore, the rising need for automation across manufacturing and other sectors has augmented the demand for semiconductor Integrated Circuits (ICs) which, in turn, is accelerating solar micro inverter procurement.
However, high initial investments required for the procurement and maintenance of solar micro inverter remains a key challenge for emerging players as well as small and medium enterprises in this space. Additionally, volatile commodity prices and geopolitical risks add to supply chain uncertainties for solar micro inverter manufacturers.
On the other hand, increasing focus towards the development of the 5G infrastructure and the deployment of 5G networks worldwide present lucrative growth opportunities. Moreover, expansion of fabless chip design capabilities globally and growing outsourcing of chip manufacturing are anticipated to boost market opportunities for solar micro inverter suppliers.
Key Features of the Study:
- This report provides an in-depth analysis of the global solar micro inverter market, and provides market size (US$ billion) and compound annual growth rate (CAGR %) for the forecast period (2024-2031), considering 2023 as the base year.
- It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
- It profiles key players in the global solar micro inverter market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
- Key companies covered as a part of this study include Altenergy Power System Inc. , SolaX Power , Fronius International GmbH , Green Power Technologies , Growatt New Energy Technology Co., Ltd. , Sungrow Power Supply Co., Ltd. , and Power Electronics
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
- The global solar micro inverter market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global solar micro inverter market.
Detailed Segmentation-
- By Type
- Single Phase
- Three Phase
- By Offering
- Hardware
- Software
- Services
- By Power Rating
- Below 250 W
- Between 250 W-500 W
- Above 500 W
- By Application
- Residential
- Commercial
- PV Power Plant
- By Regional
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
- Key Players Insights
- Enphase Energy
- SolarEdge Technologies
- ABB Ltd.
- SMA Solar Technology AG
- Chilicon Power LLC
- APsystems
- Solis Energy Solutions Inc.
- Delta Electronics Inc.
- Ginlong Technologies
- Darfon Electronics Corp.
- SunPower Corporation
- Yaskawa - Solectria Solar
- Huawei Technologies Co., Ltd.
- Altenergy Power System Inc.
- SolaX Power
- Fronius International GmbH
- Green Power Technologies
- Growatt New Energy Technology Co., Ltd.
- Sungrow Power Supply Co., Ltd.
- Power Electronics
Table of Contents:
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snapshot, By Type
- Market Snapshot, By Offering
- Market Snapshot, By Power Rating
- Market Snapshot, By Application
- Market Snapshot, By Region
- Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product Launches/Approvals
- PEST Analysis
- PORTER's Analysis
- Merger and Acquisition Scenario
4. Global Solar Micro Inverter Market - Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
5. Global Solar Micro Inverter Market, By Type, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
- Single Phase
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Three Phase
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
6. Global Solar Micro Inverter Market, By Offering, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
- Hardware
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Software
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Services
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
7. Global Solar Micro Inverter Market, By Power Rating, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
- Below 250 W
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Between 250 W-500 W
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Above 500 W
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
8. Global Solar Micro Inverter Market, By Application, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
- Residential
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Commercial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- PV Power Plant
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
9. Global Solar Micro Inverter Market, By Region, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- North America
- Regional Trends
- Market Size and Forecast, By Type, 2019 - 2031 (USD Billion)
- Market Size and Forecast, By Offering, 2019 - 2031 (USD Billion)
- Market Size and Forecast, By Power Rating, 2019 - 2031 (USD Billion)
- Market Size and Forecast, By Application, 2019 - 2031 (USD Billion)
- Market Share Analysis, By Country, 2024 and 2031 (%)
- U.S.
- Canada
- Europe
- Regional Trends
- Market Size and Forecast, By Type, 2019 - 2031 (USD Billion)
- Market Size and Forecast, By Offering, 2019 - 2031 (USD Billion)
- Market Size and Forecast, By Power Rating, 2019 - 2031 (USD Billion)
- Market Size and Forecast, By Application, 2019 - 2031 (USD Billion)
- Market Share Analysis, By Country, 2024 and 2031 (%)
- U.K.
- Germany
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Regional Trends
- Market Size and Forecast, By Type, 2019 - 2031 (USD Billion)
- Market Size and Forecast, By Offering, 2019 - 2031 (USD Billion)
- Market Size and Forecast, By Power Rating, 2019 - 2031 (USD Billion)
- Market Size and Forecast, By Application, 2019 - 2031 (USD Billion)
- Market Share Analysis, By Country, 2024 and 2031 (%)
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Regional Trends
- Market Size and Forecast, By Type, 2019 - 2031 (USD Billion)
- Market Size and Forecast, By Offering, 2019 - 2031 (USD Billion)
- Market Size and Forecast, By Power Rating, 2019 - 2031 (USD Billion)
- Market Size and Forecast, By Application, 2019 - 2031 (USD Billion)
- Market Share Analysis, By Country, 2024 and 2031 (%)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Middle East & Africa
- Regional Trends
- Market Size and Forecast, By Type, 2019 - 2031 (USD Billion)
- Market Size and Forecast, By Offering, 2019 - 2031 (USD Billion)
- Market Size and Forecast, By Power Rating, 2019 - 2031 (USD Billion)
- Market Size and Forecast, By Application, 2019 - 2031 (USD Billion)
- Market Share Analysis, By Country/Sub-region, 2024 and 2031 (%)
- South Africa
- GCC Countries
- Rest of the Middle East & Africa
10. Competitive Landscape
- Company Profiles
- Enphase Energy
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- SolarEdge Technologies
- ABB Ltd.
- SMA Solar Technology AG
- Chilicon Power LLC
- APsystems
- Solis Energy Solutions Inc.
- Delta Electronics Inc.
- Ginlong Technologies
- Darfon Electronics Corp.
- SunPower Corporation
- Yaskawa - Solectria Solar
- Huawei Technologies Co., Ltd.
- Altenergy Power System Inc.
- SolaX Power
- Fronius International GmbH
- Green Power Technologies
- Growatt New Energy Technology Co., Ltd.
- Sungrow Power Supply Co., Ltd.
- Power Electronics
11. Analyst Recommendations
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
12. Section:
- Research Methodology
- About Us
