Press release
Module Level Power Electronics (MLPE) Market: Revenue Share, Insights & Future Outlook
MLPE Market OverviewIn 2024, the global market size of Module Level Power Electronics (MLPE) was estimated to be worth US$ 3806 million and is forecast to reach approximately US$ 9813 million by 2031, growing at a CAGR of 14.7% during the forecast period 2025-2031.
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North America is the largest market, with a share above 60%, followed by Europe with a share of about 25%. In terms of product, microinverters dominate with a share above 60%, and in terms of application, residential applications account for over 85% of the market.
Global MLPE adoption is being driven by the growing demand for solar energy systems, energy efficiency, and the increasing deployment of residential and commercial rooftop solar installations.
Which Types and Applications Are Driving MLPE Market Expansion?
By Type:
• Power Optimizer - Enhances system efficiency by optimizing energy output from each solar module.
• Microinverter - Converts DC to AC at the module level, providing higher energy yields and monitoring capabilities.
By Application:
• Residential - Largest segment due to rooftop solar adoption and incentives for solar deployment.
• Commercial - Growing steadily as businesses invest in energy cost reduction and sustainability goals.
Who Are the Leading MLPE Manufacturers?
• SolarEdge - A global leader in power optimizer and inverter solutions, focused on maximizing energy generation for solar systems.
• Enphase - Specializes in microinverter technology and advanced energy management solutions for residential and commercial applications.
• Tigo/SMA - Known for flexible and reliable MLPE solutions, providing both microinverters and power optimizers.
• APSystems - Innovates in multi-module microinverters for high-efficiency solar energy conversion.
• i-Energy - Focused on smart MLPE solutions integrating monitoring and performance optimization.
• Lead Solar - Manufactures advanced solar inverters and energy storage solutions.
• Chilicon - Provides high-efficiency microinverter solutions for residential solar.
• BM Solar - Offers complete MLPE systems with robust monitoring capabilities.
• Sparq - Develops module-level optimizers and solar energy management technologies.
• Hoymiles - Microinverter provider with an emphasis on modularity and scalability.
• Ningbo Deye - Specializes in solar inverter solutions with residential and commercial applications.
• NEP - Designs high-performance MLPE systems for energy optimization.
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