All The Latest Update Of Micro Inverter Market 2023, In One Place - Check out now

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Micro-Inverter Market by Component (Hardware,
Software, and Services), Type (Single Phase and
Three Phase), Communication Technology, Sales
Channel, Application (Residential, Commercial,
and PV Power Plant), and Geography - Global
Forecast to 2023
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"Micro-Inverter Market by Component (Hardware,
Software, and Services), Type (Single Phase and
Three Phase), Communication Technology, Sales
Channel, Application (Residential, Commercial,
and PV Power Plant), and Geography - Global
Forecast to 2023 The global micro-inverter
market was valued at USD 2.44 billion in 2018 and
is projected to reach USD 5.88 billion by 2023,
at a CAGR of 19.3 from 2018 to 2023. The growth
of this market can be attributed to the rise in
residential solar rooftop installations.
Residential solar rooftop installation has
witnessed significant growth over the years
across the world. Rising energy cost, coupled
with supportive government policies, has led to
the adoption of energy conservation measures to
control the increased energy expenditure.
Residential systems with solar and energy storage
help end users during grid power outages and
achieve energy independence, as well as avoid the
rising energy costs. PDF Brochure
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Single phase held largest share of micro-inverter
market in 2017 The micro-inverter market based
on type is led by the single phase segment in
terms of size. Micro-inverters were invented with
single-phase technology. Single-phase technology
enables the system to have a compact size, which
is well suited for residential and commercial
applications. Most of the micro-inverter
manufacturers across the world offer single-phase
systems. Also, as single-phase electricity
transmission is well suited for residential
applications, which is also one of the major
markets for micro-inverters, witness high demand
worldwide. For instance, in countries such as the
US, Australia, and European countries, the
residential segment operates on single-phase
transmissions of electricity. Market for
indirect sales channel likely to grow at higher
CAGR during forecast period Based on sales
channel, the market for indirect sales is
expected to witness the highest growth rate
during the forecast period. Most key players in
the market have well-established sales networks
and provide their products worldwide.
Micro-inverter systems are mainly adopted in
residential and commercial applications. End
users in these application areas may lack the
expertise required to integrate micro-inverters
into solar panels. Thus, installations are mostly
done by the companys system integrators or
third-party providers.
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North America expected to hold largest size of
micro-inverter market during forecast
period North America held the largest size of
the micro-inverter market in 2017, followed by
Europe and APAC. The high number of
micro-inverter installations in the region,
mainly in the US and Canada, attributes to the
dominating position of the region in the
micro-inverter market. The US was the first
country in terms of wide-scale adoption of
micro-inverter technology, especially for
residential applications. This is one of the
major factors that have led to the dominant
position of North America in the micro-inverter
market. The micro-inverter market for
resdiential applications is expected to grow at
the highest CAGR during the forecast period.
Residential solar rooftop PV installation has
witnessed significant growth over the years
across the world. The rising energy cost, coupled
with supportive government policies worldwide,
has led to increasing adoption of energy
conservation measures for controlling the
increased energy expenditure in residential
applications.
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Browse gtgt 62 market data
tables 57 figures
171 Pages and in-depth TOC
on "Micro-Inverter Market - Global Forecast to
2023" Early buyers will receive 10 customization
on this report. This is a Premium Report Priced
at Single user US 5650 Corporate User
US8150 This study answers several questions for
the stakeholders, primarily which market segments
to focus on in the next two to five years to
prioritize efforts and investments.
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Key players - The Micro-Inverter Market is
dominated by

• Enphase Energy (US)
• Altenergy Power System (US)
• Chilicon Power (US)
• SunPower (China)
• Siemens (Germany)

• Darfon Electronics (China)
• AEconversion (Germany)
• Envertech (China)
• ReneSola (US)

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