Market Research Logo

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

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
“Growing awareness due to their inherent benefits over conventional solar inverter technologies, propelling growth of micro-inverter market”
The global micro-inverter market expected to grow at a CAGR of 19.3% from 2018 to 2023 to reach USD 5.88 billion by 2023 from USD 2.44 billion in 2018. Micro-inverter is gaining popularity particularly due to several advantages they offer over conventional inverters. The main advantage of micro-inverters is that its power output is unaffected despite shading of one or more solar panels, deposition of debris or snow on any solar module, or even at an event of complete module failure. Micro-inverter is able to harvest optimum power from each module by performing maximum power point tracking (MPPT). Micro-inverters are mainly used in applications such as residential, commercial, and PV power plant. Micro-inverters are highly in demand for residential applications. However, the major factor restraining the micro-inverter market growth is the high competition from conventional inverter technologies.

“Micro-inverter market to be driven by residential application during forecast period”
The residential application is expected to hold a significant share of the micro-inverter market during the forecast period. 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. Countries such as the US, Australia, and the Netherlands, which are among the prominent markets for residential rooftop PV installations, have widely adopted micro-inverters over conventional inverters.

“Micro-inverter market in APAC to grow at highest CAGR during forecast period”
The market in APAC for micro-inverters is expected to grow at the highest CAGR from 2018 to 2023. APAC has several operational micro-inverter installations for residential, commercial, and PV power plant applications. Japan and Australia have been the major adopters of micro-inverter technology. Also, the growth in residential rooftop solar PV installations in India and Japan encourages manufacturers to cater to the needs of potential customers in this region.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key officials in the micro-inverter market. Following is the breakup of the primary participants for the report:
By Company Type: Tier 1 = 50 %, Tier 2 = 30%, and Tier 3 = 20%
By Designation: C-Level Executives = 60%, Directors = 25%, and Others = 15%
By Region: North America = 35%, Europe = 30%, APAC = 25%, and RoW = 10%

Moreover, the report profiles the key players in the micro-inverter market and analyzes their market ranking. The prominent players profiled in this report are Enphase Energy (US), Altenergy Power System (US), Chilicon Power (US), SunPower (China), Siemens (Germany), Envertech (China) ReneSola (US), Darfon Electronics (China), and AEconversion (Germany).

Research Coverage:
This research report categorizes the micro-inverter market based on component, type, communication technology, sales channel, application, and region. Moreover, the report provides a description of the major drivers, restraints, challenges, and opportunities pertaining to this market as well as the value chain analysis and market ranking analysis.

Reasons to Buy the Report:
The report would help the leaders/new entrants in the micro-inverter market in the following ways:
1. The report segments the micro-inverter market comprehensively and provides the market size estimation for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with the information on key drivers, restraints, challenges, and opportunities for the micro-inverter market.
3. The report would help stakeholders understand their competitors better and gain insights to improve their position in the micro-inverter market. The competitive landscape section describes the competitor ecosystem.


  • INTRODUCTION
    • STUDY OBJECTIVES
    • DEFINITION
    • SCOPE OF THE STUDY
      • MARKET COVERED
      • GEOGRAPHIC SCOPE
      • YEARS CONSIDERED
    • CURRENCY
    • LIMITATIONS
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
    • SECONDARY AND PRIMARY RESEARCH
      • SECONDARY DATA
      • PRIMARY DATA
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • TOP-DOWN APPROACH
    • DATA TRIANGULATION
    • RESEARCH ASSUMPTIONS
  • EXECUTIVE SUMMARY
    • Table MICRO-INVERTER MARKET, IN TERMS OF VALUE AND VOLUME, 2015–2023
  • PREMIUM INSIGHTS
    • ATTRACTIVE GROWTH OPPORTUNITIES IN MICRO-INVERTER MARKET
    • MICRO-INVERTER MARKET, BY TYPE
    • MICRO-INVERTER MARKET IN NORTH AMERICA, BY COUNTRY AND APPLICATION
    • MICRO-INVERTER MARKET, BY APPLICATION
    • MICRO-INVERTER MARKET, BY COUNTRY, 2018
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
    • VALUE CHAIN ANALYSIS
  • MICRO-INVERTER MARKET, BY COMPONENT
    • INTRODUCTION
      • Table MICRO-INVERTER MARKET, BY COMPONENT, 2015–2023 (USD MILLION)
    • HARDWARE
    • SOFTWARE
    • SERVICES
  • MICRO-INVERTER MARKET, BY TYPE
    • INTRODUCTION
      • Table MICRO-INVERTER MARKET, BY TYPE, 2015–2023 (USD MILLION)
    • SINGLE PHASE
      • Table SINGLE-PHASE MICRO-INVERTER MARKET, BY APPLICATION, 2015–2023 (USD MILLION)
    • THREE PHASE
      • Table THREE-PHASE MICRO-INVERTER MARKET, BY APPLICATION, 2015–2023 (USD MILLION)
  • MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY
    • INTRODUCTION
      • Table MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY, 2015–2023 (USD MILLION)
    • WIRED
      • Table MICRO-INVERTER MARKET FOR WIRED COMMUNICATION TECHNOLOGY, BY APPLICATION, 2015–2023 (USD MILLION)
    • WIRELESS
      • Table MICRO-INVERTER MARKET FOR WIRELESS COMMUNICATION TECHNOLOGY, BY APPLICATION, 2015–2023 (USD MILLION)
  • MICRO-INVERTER MARKET, BY SALES CHANNEL
    • INTRODUCTION
      • Table MICRO-INVERTER MARKET, BY SALES CHANNEL, 2015–2023 (USD MILLION)
    • DIRECT
      • Table MICRO-INVERTER MARKET FOR DIRECT SALES CHANNEL, BY APPLICATION, 2015–2023 (USD MILLION)
    • INDIRECT
      • Table MICRO-INVERTER MARKET FOR INDIRECT SALES CHANNEL, BY APPLICATION, 2015–2023 (USD MILLION)
  • MICRO-INVERTER MARKET, BY APPLICATION
    • INTRODUCTION
      • Table MICRO-INVERTER MARKET, BY APPLICATION, 2015–2023 (USD MILLION)
    • RESIDENTIAL
      • Table MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS, BY TYPE, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS, BY COMMUNICATION TECHNOLOGY, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS, BY SALES CHANNEL, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS, BY REGION, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET IN NORTH AMERICA FOR RESIDENTIAL APPLICATIONS, BY COUNTRY, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET IN EUROPE FOR RESIDENTIAL APPLICATIONS, BY COUNTRY, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET IN APAC FOR RESIDENTIAL APPLICATIONS, BY COUNTRY, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET IN ROW FOR RESIDENTIAL APPLICATIONS, BY REGION, 2015–2023 (USD MILLION)
    • COMMERCIAL
      • Table MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS, BY TYPE, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS, BY COMMUNICATION TECHNOLOGY, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS, BY SALES CHANNEL, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS, BY REGION, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET IN NORTH AMERICA FOR COMMERCIAL APPLICATIONS, BY COUNTRY, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET IN EUROPE FOR COMMERCIAL APPLICATIONS, BY COUNTRY, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET IN APAC FOR COMMERCIAL APPLICATIONS, BY COUNTRY, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET IN ROW FOR COMMERCIAL APPLICATIONS, BY REGION, 2015–2023 (USD MILLION)
    • PV POWER PLANT
      • Table MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS, BY TYPE, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS, BY COMMUNICATION TECHNOLOGY, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS, BY SALES CHANNEL, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS, BY REGION, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET IN NORTH AMERICA FOR PV POWER PLANT APPLICATIONS, BY COUNTRY, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET IN EUROPE FOR PV POWER PLANT APPLICATIONS, BY COUNTRY, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET IN APAC FOR PV POWER PLANT APPLICATIONS, BY COUNTRY, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET IN ROW FOR PV POWER PLANT APPLICATIONS, BY REGION, 2015–2023 (USD MILLION)
  • GEOGRAPHIC ANALYSIS
    • INTRODUCTION
      • Table MICRO-INVERTER MARKET, BY REGION, 2015–2023 (USD MILLION)
    • NORTH AMERICA
      • Table MICRO-INVERTER MARKET IN NORTH AMERICA, BY COUNTRY, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET IN NORTH AMERICA, BY APPLICATION, 2015–2023 (USD MILLION)
      • US
        • Table MICRO-INVERTER MARKET IN US, BY APPLICATION, 2015–2023 (USD MILLION)
      • CANADA
        • Table MICRO-INVERTER MARKET IN CANADA, BY APPLICATION, 2015–2023 (USD MILLION)
      • MEXICO
        • Table MICRO-INVERTER MARKET IN MEXICO, BY APPLICATION, 2015–2023 (USD MILLION)
    • EUROPE
      • Table MICRO-INVERTER MARKET IN EUROPE, BY COUNTRY, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET IN EUROPE, BY APPLICATION, 2015–2023 (USD MILLION)
      • GERMANY
        • Table MICRO-INVERTER MARKET IN GERMANY, BY APPLICATION, 2015–2023 (USD MILLION)
      • UK
        • Table MICRO-INVERTER MARKET IN UK, BY APPLICATION, 2015–2023 (USD MILLION)
      • FRANCE
        • Table MICRO-INVERTER MARKET IN FRANCE, BY APPLICATION, 2015–2023 (USD MILLION)
      • NETHERLANDS
        • Table MICRO-INVERTER MARKET IN NETHERLANDS, BY APPLICATION, 2015–2023 (USD MILLION)
      • REST OF EUROPE
        • Table MICRO-INVERTER MARKET IN ROE, BY APPLICATION, 2015–2023 (USD MILLION)
    • APAC
      • Table MICRO-INVERTER MARKET IN APAC, BY COUNTRY, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET IN APAC, BY APPLICATION, 2015–2023 (USD MILLION)
      • CHINA
        • Table MICRO-INVERTER MARKET IN CHINA, BY APPLICATION, 2015–2023 (USD MILLION)
      • JAPAN
        • Table MICRO-INVERTER MARKET IN JAPAN, BY APPLICATION, 2015–2023 (USD MILLION)
      • INDIA
        • Table MICRO-INVERTER MARKET IN INDIA, BY APPLICATION, 2015–2023 (USD MILLION)
      • AUSTRALIA
        • Table MICRO-INVERTER MARKET IN AUSTRALIA, BY APPLICATION, 2015–2023 (USD MILLION)
      • REST OF APAC
        • Table MICRO-INVERTER MARKET IN REST OF APAC, BY APPLICATION, 2015–2023 (USD MILLION)
    • ROW
      • Table MICRO-INVERTER MARKET IN ROW, BY REGION, 2015–2023 (USD MILLION)
      • Table MICRO-INVERTER MARKET IN ROW, BY APPLICATION, 2015–2023 (USD MILLION)
      • MIDDLE EAST
        • Table MICRO-INVERTER MARKET IN MIDDLE EAST, BY APPLICATION, 2015–2023 (USD THOUSAND)
      • SOUTH AMERICA
        • Table MICRO-INVERTER MARKET IN SOUTH AMERICA, BY APPLICATION, 2015–2023 (USD MILLION)
      • AFRICA
        • Table MICRO-INVERTER MARKET IN AFRICA, BY APPLICATION, 2015–2023 (USD MILLION)
  • COMPETITIVE LANDSCAPE
    • OVERVIEW
    • RANKING ANALYSIS, 2017
      • Table MICRO-INVERTER MARKET: RANKING ANALYSIS (2017)
    • COMPETITIVE SITUATIONS AND TRENDS
      • PRODUCT LAUNCHES AND DEVELOPMENTS
      • ACQUISITION, COLLABORATIONS, AND PARTNERSHIPS
      • CONTRACTS, JOINT VENTURES, AND EXPANSIONS
  • COMPANY PROFILES
    • KEY PLAYERS
      • ENPHASE ENERGY
      • DARFON ELECTRONICS
      • SUNPOWER
      • ALTENERGY POWER SYSTEM
      • RENESOLA
      • SMA SOLAR TECHNOLOGY
      • CHILICON POWER
      • AECONVERSION
      • SIEMENS
    • OTHER KEY PLAYERS
      • SPARQ SYSTEMS
      • OMNIK NEW ENERGY
      • SENSATA TECHNOLOGIES
      • SARONIC (EU) POWER TECH
      • ENLUXSOLAR
      • U R ENERGY
      • SAMIL POWER
      • INVOLAR
  • APPENDIX
    • INSIGHTS OF INDUSTRY EXPERTS
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report