PV Micro Inverters Market is foretold to rise from US$489.1 mn in 2017 to US$990.3 mn by 2022
Read report Overview-
Going forward, the competition in the global PV micro inverters market is likely to intensify further. To cut this competition, key companies may begin engaging in strategic alliances with startups and smaller firms in the near future. They are also expected to consider expanding their bases in emerging regions with ample untapped potential, reports the study.
Need for Off-grid Electricity to Boost PV Micro Inverters' Demand
According to TMR, the global PV micro inverters market is foretold to rise from US$489.1 mn in 2017 to US$990.3 mn by 2022. During this period, the comprehensive average growth rate is pegged at 15.20%. The increasing need for off-grid electricity is driving the demand for these inverters across the world. The rising reports of accidents caused by electricity have fueled the need for modern and safer energy resources, including off-grid electricity. The augmenting awareness pertaining to the efficacy of PV micro inverters and the advantages of MLPE technology is also adding to the growth of this market significantly.
Request PDF Brochure -
Over the coming years, the surge in governmental support, in terms of new initiative and funding, to encourage the use of sustainable energy, such as feed in tariff and net metering, is projected to boost the installation of these inverters. Apart from this, the rising preference for integrated products and the upswing in the demand for AC Modules are also expected to propel the global PV micro inverters market in the near future, states the research report.
Request for Customization @
North America to Remain Seated on Top
In terms of the geography, the worldwide PV micro inverters market is classified into the Middle East and Africa, Europe, Asia Pacific excluding Japan, Japan, Latin America, and North America. North America has been the most prominent contributor to the global market over last few years. Researchers believe it will continue to be on the top during the forecast period, progressing at a CAGR of 15%. The presence of advanced infrastructure and continual development in it is the main factor that has been boosting the North America PV micro inverters market. Many of the leading PV micro inverter manufacturers are headquartered in this region, which is another important factor behind its substantial growth.
Buy Now :
Another significant PV micro inverters market is in Europe. Thanks to the rising awareness among consumers regarding the benefits of PV micro inverters, this regional market is projected to retain its longstanding position, globally, in the years to come. However, the most promising opportunities will come from Asia Pacific excluding Japan. This regional PV micro inverters market is anticipated to register a faster than others CAGR at 15.40% during the period of the forecast. The availability of reasonably-priced PV micro inverters has fueled their deployment in this region. China, especially, boasts of the most prominent contribution, in terms of consumption, notes the market study.
Read our Case study at :
Explore Transparency Market Research's award-winning coverage of the global (Chemicals and Materials) Industry
Transparency Market Research,
90 Sate Street, Suite 700,
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers.
TMR's experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR's syndicated reports strive to provide clients to serve their overall research requirement.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release PV Micro Inverters Market is foretold to rise from US$489.1 mn in 2017 to US$990.3 mn by 2022 here
News-ID: 2054938 • Views: 158
More Releases from Transparency Market Research
Trends in the Rice Syrup Market - Detailed Analysis of Current Industry Figures …
Rice syrup is increasingly finding use as a natural sweetener in confectioneries, beverages, bakeries, dairy products, dressings, and infant formula milk. Food services such as restaurants, hotels, and cafes also display substantial use of rice syrup. The demand for sweeteners such as rice syrup is witnessing a steady rise as demand for bakery and confectionery products continues to rise, says Transparency Market Research (TMR) in one of its recent market study
Shea Butter Market Size - Huge Demand in the Cosmetics Industry to Create Billio …
Shea butter is considered a super ingredient for modern cosmetic and personal care products accounting for mammoth growth of shea butter market, says a TMR analyst. Obtained from the kernels of the shea fruit, shea butter finds wide use for health and beauty products such as skin soothing and healing products. Obtain Report Details @https://www.transparencymarketresearch.com/shea-butter-market.html With myriad use of shea butter mainly in the food and cosmeceuticals sector, shea butter market
Stratergic Analysis of Rose Floral Water Market till 2026
Over the past couple of decades, there has been rise in the demand for natural and organic cosmetic products. With growing awareness regarding critical applications associated with the consumption and application of natural cosmetic products, the demand for natural and organic cosmetic products is surging year on year. Obtain Report Details @ https://www.transparencymarketresearch.com/rose-floral-water-market.html According to the recent stats, the global cosmetic industry is being estimated to be valued at US$ 11.7
Textured Butter Market Comprehensive Evaluation Of The Market Via In Depth Quali …
The latest market report published by Transparency Market Research on the global textured butter market includes global industry analysis and opportunity assessment for 2019-2029. Revenue generated from the global textured butter market is estimated to reach ~ US$ 1 Bn in 2019, and is projected to increase at a CAGR of ~ 4%, to reach US$ 1.5 Bn in 2029. The burgeoning demand for new food products is constantly fueling innovation
More Releases for TMR
Global 3D Animation Market: Snapshot The evolution and introduction of three-dimensional (3D) animation has given the world of animation a new perspective. The process of creating 3D moving images in a digital space through objects or models has given these illusions depth. One of the most fundamental differences between 2D animation and 3D animation is the technique used for creating the images and the way they look. The global 3D animation
Various strategies are leveraged by success-hungry players in the global hyperbaric oxygen therapy devices market. One of them is the thrust on research and development to come up with new or better products. Their focus is on building cost-effective medical devices that would see greater uptake. Strategic partnerships are also being undertaken by them to diversify product portfolios and gain greater share. Further, companies are shifting their gaze to developing
Monolithic Ceramics Market Analysis : TMR
Transparency Market Research has published a new market report titled “Monolithic Ceramics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.” According to the report, the global monolithic ceramics market was valued at US$ 19.43 Bn in 2014 and is anticipated to reach US$ 36.64 Bn by 2023, expanding at a CAGR of 7.3% between 2015 and 2023. Request to view Sample Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3158 Monolithic ceramics are
TMR - 3D Printing Materials Market by 2020
The global 3D printing materials market will exhibit a CAGR of 18.0% between 2014 and 2020. The market was valued at US$450 mn in 2013 and is expected to reach US$1.4 bn by the end of 2020, according to a research report released by Transparency Market Research. The report titled “3D Printing Materials - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020” is available for sale
Wax Market Analysis : TMR
A recent research report published by Transparency Market Research projects the global wax market to expand at a CAGR of 2.6% during the period between 2014 and 2020. The report, titled “Wax Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020,” estimates the global wax market to be worth US$8.98 bn by 2020. The overall market stood at a valuation of US$8.21 bn in 2013
Sulfone Polymers Market Analysis : TMR
Global Sulfone Polymers Market: Snapshot Several grades/varieties of sulfone polymers have gained vast applicability across a number of industries in the past few years. The relatively higher level of resistance wear and corrosion provided by these materials as compared to metals have increased their usage in medical devices and implants. Owing to their high transparency resistance, low weight, and high performance, the demand for sulfone polymers is also rising in the