Press release
Solar Microinverter Market Set to Reach US$ 7.85 Billion by 2029, with an Impressive CAGR of 18.4%
Solar Microinverter Market
Maximize Market Research Pvt Ltd, a prominent market research firm, is pleased to announce the release of a comprehensive report on the Solar Microinverter Market. This report delves into market dynamics, including research methodology, drivers, restraints, and regional insights.
The report provides an analysis of the impact of renewable energy sources on energy distribution, especially in addressing sustainability challenges. Microinverters play a crucial role in this context, offering a backup energy source in traditional solar systems. Solar microinverters are plug-and-play devices used in photovoltaics, converting DC to AC power at the individual module level. The market for solar microinverters is driven by continuous R&D activities, significant cost reductions, compact design, and versatility. Growing client requirements related to modularity, safety, and maximum energy harvest are expected to further propel market growth.
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Solar Microinverter Market Dynamics:
The demand for solar microinverters is on the rise, leading to significant innovations in the industry. For instance, Tesla has introduced a solar roof composed of tempered glass tiles, capable of converting sunlight into electricity. These tiles are stronger than non-solar tiles and regular plate glass. Microinverters address various limitations associated with central inverters.
Solar Microinverter Market Regional Insights:
Huawei, Sungrow, and SMA continue to dominate the total inverter market. Huawei, a Chinese company, leads the field, with Sungrow and German company SMA following closely behind. United States-based Power Electronics secures the fourth position, maintaining its dominance in the domestic market. Italian inverter manufacturer Fimer has witnessed substantial growth, climbing to the fifth position after acquiring the solar inverter business of Swiss company ABB. Collectively, the top five companies claim 56% of the market, holding their dominance.
This growth is attributed to the presence of key nations like China, India, and Japan, technical advancements, and the increasing demand for power in the region. Government initiatives, such as India's national solar mission, are contributing to the market's upward trajectory.
The World Bank is committed to supporting India's solar energy initiatives, providing over USD 1 billion to assist India's solar plans, including grid-connected rooftop solar projects. India is actively installing solar panels on rooftops and floating solar platforms on rivers and other bodies of water.
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Solar Microinverter Market Segmentation:
by Type
• Single-Phase
• Three-Phase
by Connectivity
• Standalone
• Integrated
by Distribution Channel
• Direct Sales
• Indirect Sales
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Solar Microinverter Market Key Players:
• Emerson Electric Company.
• Schneider Electric Co
• Power-one Inc.
• SMA Solar Type AG
• CO New Energy
• Huawei Technologie
• Sungrow Power Supply
• SMA Solar Type
• Power Electronic
• ABB
• Sineng
• Goodwe
• Solar Edge Technologies
• Ingeteam
• TBEA Sunoasis.
• Darfon Electronics Corp.
• Altenergy Power System Inc.
• Enphase Energy Inc
• SunPower Corporation
• Chilicon Power, LLC
• I Energy Corporation Limited
• NEP Microinverter Inc.
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Table of content for the Solar Microinverter Market includes:
1. Global Solar Microinverter Market: Research Methodology
2. Global Solar Microinverter Market: Executive Summary
• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3. Global Solar Microinverter Market: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
4. Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
Key Offerings:
• Past Market Size and Competitive Landscape
• Past Pricing and price curve by region
• Market Size, Share, Size and Forecast by different segment | 2023-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by growth and trend
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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About Maximize Market Research:
Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of the majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.
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