Press release
Solar Micro Inverters Market Report 2020-2026: Emerging Trends, Key Players, Types, Application, Trends And Growth Factors | APsystems Solar, Sungage Financial, Enphase Energy, SolarEdge Technologies, SMA Solar Technology AG
The global solar micro inverters market is projected to reach $1,968.7 million by 2026, progressing at a CAGR of 15.3% during the forecast period.
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Competitive Landscape of Solar Micro Inverters Market
In January 2017, Altenergy Power System Inc. announced plans to enter into the partnership with Sungage Financial. With this partnership, Altenergy will cater the demand from national solar installers for APsystems powerful residential solar microinverters.
Some of the key players operating in the solar micro inverters market are Enphase Energy Inc., SolarEdge Technologies Inc., SMA Solar Technology AG, Altenergy Power System Inc., and Northern Electric and Power Co. Ltd.
Between these two, the stand-alone solar micro inverters are expected to hold the largest share of the market in the near future. When end-use is taken into consideration, the solar micro inverters market is categorized into utilities, residential, and commercial. The residential category is projected to account for the major share of the market in the coming years, as micro inverters are ideal for roofs which have partial shading and aid in enhancing the performance of solar panels. The commercial category is predicted to grow at the fastest pace in the near future.
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Geographically, Europe accounted for the second-largest share of the solar micro inverters market in the past. The reason for this was the increasing number of photovoltaic (PV) installations because of the rising awareness about renewable energy for minimizing power bills and reducing carbon footprint. In addition to this, the growing acceptance of these inverters in matured European PV markets, including France, Germany, and the U.K. is also expected to drive the market in the coming years. The solar micro inverters market in the U.K. is expected to register a significant growth in the near future.
Market Size Breakdown by Segment
Based on System Type
Stand-Alone
Integrated
Based on End-Use
Residential
Commercial and Utilities
Geographical Analysis
North America
U.S.
Canada
Mexico
Europe
Germany
Russia
France
U.K.
Asia-Pacific (APAC)
China
Japan
India
South America
Brazil
Chile
Middle East & Africa (MEA)
UAE
South Africa
Saudi Arabia
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About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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