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Solar Microinverter-Global Market Insights and Sales Trends 2024
Synopsis
A Solar Microinverter, or simply microinverter, is a plug-and-play device used in photovoltaics, that converts direct current (DC) generated by a single solar module to alternating current (AC). Microinverters contrast with conventional string and central solar inverters, in which a single inverter is connected to multiple solar panels. The output from several microinverters can be combined and often fed to the electrical grid.
The global Solar Microinverter market size is expected to reach US$ 801.7 million by 2029, growing at a CAGR of 20.0% from 2023 to 2029. The market is mainly driven by the significant applications of Solar Microinverter in various end use industries. The expanding demands from the Residential, Commercial and Other, are propelling Solar Microinverter market. Grid-Connected Solar Microinverter, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Grid-Off Solar Microinverter segment is estimated at % CAGR for the next seven-year period.
It is expected that global demand for photovoltaic products will remain high in the next few years. According to our PV & Solar Research Center, by the end of 2022, the global cumulative installed photovoltaic power generation capacity is about 1180 GW. According to the data of China Photovoltaic Industry Association, the global newly installed photovoltaic capacity in 2022 is about 230 GW, and this number in 2023 is predicted to be 280-330 GW. According to the data of the Ministry of Industry and Information Technology, the total output value of China's photovoltaic industry exceeded 1.4 trillion yuan in 2022. From the perspective of production value, mainland China is still the global center of the PV industry. According to the International Energy Agency, China market share in all key products of the supply chain have exceeded 80%. Among them, the production capacity of silicon wafers, solar cells, and components accounts for as high as 98%, 85% and 77%, respectively. According to the data released by the European Photovoltaic Association, 27 EU countries gained a new PV installed capacity of 41.4 GW in 2022. According to the report of the US Solar Energy Industries Association (SEIA), the US held a new PV installed capacity of less than 19 GW in 2022. But it is estimated that from 2023, the average annual growth rate of new photovoltaic installed capacity will exceed 21%. In terms of Japan, based on data from Fitch and the US Energy Information Administration (EIA), in 2022, Japan's newly installed photovoltaic capacity was 3.231 GW.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Solar Microinverter, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Solar Microinverter market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Solar Microinverter market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Solar Microinverter sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Solar Microinverter covered in this report include Enphase Energy, SolarEdge Technologies, SMA, SunPower, Power-One, Sungrow, AP System and Samil Power, etc.
The global Solar Microinverter market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Enphase Energy
SolarEdge Technologies
SMA
SunPower
Power-One
Sungrow
AP System
Samil Power
Global Solar Microinverter market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Solar Microinverter market, Segment by Type:
Grid-Connected Solar Microinverter
Grid-Off Solar Microinverter
Global Solar Microinverter market, by Application
Residential
Commercial
Other
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Solar Microinverter manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Solar Microinverter in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
A Solar Microinverter, or simply microinverter, is a plug-and-play device used in photovoltaics, that converts direct current (DC) generated by a single solar module to alternating current (AC). Microinverters contrast with conventional string and central solar inverters, in which a single inverter is connected to multiple solar panels. The output from several microinverters can be combined and often fed to the electrical grid.
The global Solar Microinverter market size is expected to reach US$ 801.7 million by 2029, growing at a CAGR of 20.0% from 2023 to 2029. The market is mainly driven by the significant applications of Solar Microinverter in various end use industries. The expanding demands from the Residential, Commercial and Other, are propelling Solar Microinverter market. Grid-Connected Solar Microinverter, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Grid-Off Solar Microinverter segment is estimated at % CAGR for the next seven-year period.
It is expected that global demand for photovoltaic products will remain high in the next few years. According to our PV & Solar Research Center, by the end of 2022, the global cumulative installed photovoltaic power generation capacity is about 1180 GW. According to the data of China Photovoltaic Industry Association, the global newly installed photovoltaic capacity in 2022 is about 230 GW, and this number in 2023 is predicted to be 280-330 GW. According to the data of the Ministry of Industry and Information Technology, the total output value of China's photovoltaic industry exceeded 1.4 trillion yuan in 2022. From the perspective of production value, mainland China is still the global center of the PV industry. According to the International Energy Agency, China market share in all key products of the supply chain have exceeded 80%. Among them, the production capacity of silicon wafers, solar cells, and components accounts for as high as 98%, 85% and 77%, respectively. According to the data released by the European Photovoltaic Association, 27 EU countries gained a new PV installed capacity of 41.4 GW in 2022. According to the report of the US Solar Energy Industries Association (SEIA), the US held a new PV installed capacity of less than 19 GW in 2022. But it is estimated that from 2023, the average annual growth rate of new photovoltaic installed capacity will exceed 21%. In terms of Japan, based on data from Fitch and the US Energy Information Administration (EIA), in 2022, Japan's newly installed photovoltaic capacity was 3.231 GW.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Solar Microinverter, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Solar Microinverter market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Solar Microinverter market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Solar Microinverter sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Solar Microinverter covered in this report include Enphase Energy, SolarEdge Technologies, SMA, SunPower, Power-One, Sungrow, AP System and Samil Power, etc.
The global Solar Microinverter market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Enphase Energy
SolarEdge Technologies
SMA
SunPower
Power-One
Sungrow
AP System
Samil Power
Global Solar Microinverter market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Solar Microinverter market, Segment by Type:
Grid-Connected Solar Microinverter
Grid-Off Solar Microinverter
Global Solar Microinverter market, by Application
Residential
Commercial
Other
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Solar Microinverter manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Solar Microinverter in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Index1 Solar Microinverter Market Overview
1.1 Solar Microinverter Product Overview
1.2 Solar Microinverter Market Segment by Type
1.2.1 Grid-Connected Solar Microinverter
1.2.2 Grid-Off Solar Microinverter
1.3 Global Solar Microinverter Market Size by Type
1.3.1 Global Solar Microinverter Market Size Overview by Type (2018-2029)
1.3.2 Global Solar Microinverter Historic Market Size Review by Type (2018-2023)
1.3.3 Global Solar Microinverter Forecasted Market Size by Type (2024-2029)
1.4 Key Regions Market Size Segment by Type
1.4.1 North America Solar Microinverter Sales Breakdown by Type (2018-2023)
1.4.2 Europe Solar Microinverter Sales Breakdown by Type (2018-2023)
1.4.3 Asia-Pacific Solar Microinverter Sales Breakdown by Type (2018-2023)
1.4.4 Latin America Solar Microinverter Sales Breakdown by Type (2018-2023)
1.4.5 Middle East and Africa Solar Microinverter Sales Breakdown by Type (2018-2023)
2 Global Solar Microinverter Market Competition by Company
2.1 Global Top Players by Solar Microinverter Sales (2018-2023)
2.2 Global Top Players by Solar Microinverter Revenue (2018-2023)
2.3 Global Top Players by Solar Microinverter Price (2018-2023)
2.4 Global Top Manufacturers Solar Microinverter Manufacturing Base Distribution, Sales Area, Product Type
2.5 Solar Microinverter Market Competitive Situation and Trends
2.5.1 Solar Microinverter Market Concentration Rate (2018-2023)
2.5.2 Global 5 and 10 Largest Manufacturers by Solar Microinverter Sales and Revenue in 2022
2.6 Global Top Manufacturers by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Solar Microinverter as of 2022)
2.7 Date of Key Manufacturers Enter into Solar Microinverter Market
2.8 Key Manufacturers Solar Microinverter Product Offered
2.9 Mergers & Acquisitions, Expansion
3 Solar Microinverter Status and Outlook by Region
3.1 Global Solar Microinverter Market Size and CAGR by Region: 2018 VS 2022 VS 2029
3.2 Global Solar Microinverter Historic Market Size by Region
3.2.1 Global Solar Microinverter Sales in Volume by Region (2018-2023)
3.2.2 Global Solar Microinverter Sales in Value by Region (2018-2023)
3.2.3 Global Solar Microinverter Sales (Volume & Value) Price and Gross Margin (2018-2023)
3.3 Global Solar Microinverter Forecasted Market Size by Region
3.3.1 Global Solar Microinverter Sales in Volume by Region (2024-2029)
3.3.2 Global Solar Microinverter Sales in Value by Region (2024-2029)
3.3.3 Global Solar Microinverter Sales (Volume & Value), Price and Gross Margin (2024-2029)
4 Global Solar Microinverter by Application
4.1 Solar Microinverter Market Segment by Application
4.1.1 Residential
4.1.2 Commercial
4.1.3 Other
4.2 Global Solar Microinverter Market Size by Application
4.2.1 Global Solar Microinverter Market Size Overview by Application (2018-2029)
4.2.2 Global Solar Microinverter Historic Market Size Review by Application (2018-2023)
4.2.3 Global Solar Microinverter Forecasted Market Size by Application (2024-2029)
4.3 Key Regions Market Size Segment by Application
4.3.1 North America Solar Microinverter Sales Breakdown by Application (2018-2023)
4.3.2 Europe Solar Microinverter Sales Breakdown by Application (2018-2023)
4.3.3 Asia-Pacific Solar Microinverter Sales Breakdown by Application (2018-2023)
4.3.4 Latin America Solar Microinverter Sales Breakdown by Application (2018-2023)
4.3.5 Middle East and Africa Solar Microinverter Sales Breakdown by Application (2018-2023)
5 North America Solar Microinverter by Country
5.1 North America Solar Microinverter Historic Market Size by Country
5.1.1 North America Solar Microinverter Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
5.1.2 North America Solar Microinverter Sales in Volume by Country (2018-2023)
5.1.3 North America Solar Microinverter Sales in Value by Country (2018-2023)
5.2 North America Solar Microinverter Forecasted Market Size by Country
5.2.1 North America Solar Microinverter Sales in Volume by Country (2024-2029)
5.2.2 North America Solar Microinverter Sales in Value by Country (2024-2029)
6 Europe Solar Microinverter by Country
6.1 Europe Solar Microinverter Historic Market Size by Country
6.1.1 Europe Solar Microinverter Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
6.1.2 Europe Solar Microinverter Sales in Volume by Country (2018-2023)
6.1.3 Europe Solar Microinverter Sales in Value by Country (2018-2023)
6.2 Europe Solar Microinverter Forecasted Market Size by Country
6.2.1 Europe Solar Microinverter Sales in Volume by Country (2024-2029)
6.2.2 Europe Solar Microinverter Sales in Value by Country (2024-2029)
7 Asia-Pacific Solar Microinverter by Region
7.1 Asia-Pacific Solar Microinverter Historic Market Size by Region
7.1.1 Asia-Pacific Solar Microinverter Market Size Growth Rate (CAGR) by Region: 2018 VS 2022 VS 2029
7.1.2 Asia-Pacific Solar Microinverter Sales in Volume by Region (2018-2023)
7.1.3 Asia-Pacific Solar Microinverter Sales in Value by Region (2018-2023)
7.2 Asia-Pacific Solar Microinverter Forecasted Market Size by Region
7.2.1 Asia-Pacific Solar Microinverter Sales in Volume by Region (2024-2029)
7.2.2 Asia-Pacific Solar Microinverter Sales in Value by Region (2024-2029)
8 Latin America Solar Microinverter by Country
8.1 Latin America Solar Microinverter Historic Market Size by Country
8.1.1 Latin America Solar Microinverter Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
8.1.2 Latin America Solar Microinverter Sales in Volume by Country (2018-2023)
8.1.3 Latin America Solar Microinverter Sales in Value by Country (2018-2023)
8.2 Latin America Solar Microinverter Forecasted Market Size by Country
8.2.1 Latin America Solar Microinverter Sales in Volume by Country (2024-2029)
8.2.2 Latin America Solar Microinverter Sales in Value by Country (2024-2029)
9 Middle East and Africa Solar Microinverter by Country
9.1 Middle East and Africa Solar Microinverter Historic Market Size by Country
9.1.1 Middle East and Africa Solar Microinverter Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
9.1.2 Middle East and Africa Solar Microinverter Sales in Volume by Country (2018-2023)
9.1.3 Middle East and Africa Solar Microinverter Sales in Value by Country (2018-2023)
9.2 Middle East and Africa Solar Microinverter Forecasted Market Size by Country
9.2.1 Middle East and Africa Solar Microinverter Sales in Volume by Country (2024-2029)
9.2.2 Middle East and Africa Solar Microinverter Sales in Value by Country (2024-2029)
10 Company Profiles
10.1 Enphase Energy
10.1.1 Enphase Energy Company Information
10.1.2 Enphase Energy Introduction and Business Overview
10.1.3 Enphase Energy Solar Microinverter Sales, Revenue and Gross Margin (2018-2023)
10.1.4 Enphase Energy Solar Microinverter Products Offered
10.1.5 Enphase Energy Recent Development
10.2 SolarEdge Technologies
10.2.1 SolarEdge Technologies Company Information
10.2.2 SolarEdge Technologies Introduction and Business Overview
10.2.3 SolarEdge Technologies Solar Microinverter Sales, Revenue and Gross Margin (2018-2023)
10.2.4 SolarEdge Technologies Solar Microinverter Products Offered
10.2.5 SolarEdge Technologies Recent Development
10.3 SMA
10.3.1 SMA Company Information
10.3.2 SMA Introduction and Business Overview
10.3.3 SMA Solar Microinverter Sales, Revenue and Gross Margin (2018-2023)
10.3.4 SMA Solar Microinverter Products Offered
10.3.5 SMA Recent Development
10.4 SunPower
10.4.1 SunPower Company Information
10.4.2 SunPower Introduction and Business Overview
10.4.3 SunPower Solar Microinverter Sales, Revenue and Gross Margin (2018-2023)
10.4.4 SunPower Solar Microinverter Products Offered
10.4.5 SunPower Recent Development
10.5 Power-One
10.5.1 Power-One Company Information
10.5.2 Power-One Introduction and Business Overview
10.5.3 Power-One Solar Microinverter Sales, Revenue and Gross Margin (2018-2023)
10.5.4 Power-One Solar Microinverter Products Offered
10.5.5 Power-One Recent Development
10.6 Sungrow
10.6.1 Sungrow Company Information
10.6.2 Sungrow Introduction and Business Overview
10.6.3 Sungrow Solar Microinverter Sales, Revenue and Gross Margin (2018-2023)
10.6.4 Sungrow Solar Microinverter Products Offered
10.6.5 Sungrow Recent Development
10.7 AP System
10.7.1 AP System Company Information
10.7.2 AP System Introduction and Business Overview
10.7.3 AP System Solar Microinverter Sales, Revenue and Gross Margin (2018-2023)
10.7.4 AP System Solar Microinverter Products Offered
10.7.5 AP System Recent Development
10.8 Samil Power
10.8.1 Samil Power Company Information
10.8.2 Samil Power Introduction and Business Overview
10.8.3 Samil Power Solar Microinverter Sales, Revenue and Gross Margin (2018-2023)
10.8.4 Samil Power Solar Microinverter Products Offered
10.8.5 Samil Power Recent Development
11 Upstream, Opportunities, Challenges, Risks and Influences Factors Analysis
11.1 Solar Microinverter Key Raw Materials
11.1.1 Key Raw Materials
11.1.2 Key Raw Materials Price
11.1.3 Raw Materials Key Suppliers
11.2 Manufacturing Cost Structure
11.2.1 Raw Materials
11.2.2 Labor Cost
11.2.3 Manufacturing Expenses
11.3 Solar Microinverter Industrial Chain Analysis
11.4 Solar Microinverter Market Dynamics
11.4.1 Solar Microinverter Industry Trends
11.4.2 Solar Microinverter Market Drivers
11.4.3 Solar Microinverter Market Challenges
11.4.4 Solar Microinverter Market Restraints
12 Market Strategy Analysis, Distributors
12.1 Sales Channel
12.2 Solar Microinverter Distributors
12.3 Solar Microinverter Downstream Customers
13 Research Findings and Conclusion
14 Appendix
14.1 Research Methodology
14.1.1 Methodology/Research Approach
14.1.2 Data Source
14.2 Author Details
14.3 Disclaimer
Published By : QY Research
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