Solar Micro Inverter Market Demand and Research Insights by 2030

The expansion of the global solar inverter market is predicted to be driven by rising demand for green energy as a result of rising consumption of power and falling costs of producing renewable energy in the years to come. The cost of production of renewable energy has dropped dramatically, and it is now economical in fulfilling the growing demand for electricity. Government measures such as energy-saving certificates are projected to boost the global Solar Inverter market. In addition to that, governments all over the world are focusing on infrastructure development to raise the standard of living of their citizens. The UAE government, for example, is largely focused on the Smart Dubai plan, which aims to transform the city into a global leader in smart cities. The global solar inverter market is predicted to grow as a result of the increased construction activity as well.

The growing influence of greenhouse emissions and developing environmental challenges encourages the adoption of solar inverters. The solar inverter industry is predicted to rise as people become more mindful of global warming. Several solar inverter businesses are launching internet-of-things (IoT) platforms, experimenting with both machine learning and artificial intelligence, and branching out into other smart-energy verticals.

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Solar Micro Inverter Market: Overview
Solar Micro Inverter market has made strides on the back of rising solar installations around the world, particularly home installations. Substantial decline in the cost of solar photovoltaic installations has allowed cost-sensitive markets to increase the share of solar power in the overall energy mix. Solar Micro Inverters have emerged as technological advancement over conventional inverters, due to the use of module-level power electronics in former. This has also led to solar PV capacity expansions especially among residential users, propelling the expansion of avenues for players in the Solar Micro Inverter market.

Key product types comprise standalone and integrated. They usually come in three grades: commercial, utility, and residential. Some of the key advantages of Solar Micro Inverters are shade tolerant, no air-cooling, minimum maintenance loss, remote monitoring, cable size, and expandable. The study offers insights into the current and emerging opportunities in these segments. It lays down the trends and factors that can boost their year-over-year revenue shares.

Solar Micro Inverter Market: Competitive Analysis and Key Developments
Most players in the Solar Micro Inverter market are leaning on attracting residential users by offering them a vast choice of features. They are constantly harping on the flexibility of modular electronics for rooftop solar PV installations in the residential sector. Top players rely on mergers and acquisitions in a bid to consolidate their shares geographically and strengthen their position in the emerging markets. Many manufacturers and vendors are willing to adopt constant price drops to make the demand lucrative. They have in recent years reduced gross margin to wade through competitive forces in the market. Several aspiring players in the Solar Micro Inverters market adopt the route of new product launches to keep them ahead in the competitive arc.

Some of the promising players in the Solar Micro Inverter market who are relentlessly focused on maintaining a stronghold include Northern Electric and Power Co. Ltd, SMA Solar Technology AG, Sparq Systems, SMA Solar Technology AG, Chilicon Power, LLC, Altenergy Power System Inc., iEnergy Co. Ltd., SunPower Corporation, and ABB Ltd.

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Solar Micro Inverter Market: Regional Assessment
On the regional front, Asia Pacific and North America have been lucrative Solar Micro Inverter markets. The rapid revenue generation over the past few years can be attributed largely to mass-scale installation of solar PV systems. Rise in adoption of rooftop installations is bolstering the prospects in Asian countries. Growing awareness of the advanced features in micro-inverters has propelled users in cost-sensitive markets to deploy technologies available in the market.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

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