Dublin, Jan. 13, 2021 (GLOBE NEWSWIRE) -- The "Global Solar Microinverter Market, By Type (Single Phase and Three Phase), By Connectivity (Integrated, Standalone), By Application (Residential, Commercial, PV Power Plant), By Sales Channel (Direct and Indirect), By Region, Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Solar Microinverter Market was valued USD 1166.24 Million in 2019 and is projected to grow at double-digit CAGR of 24.32% to reach USD 2934.86 Million by 2025. The Global Solar Microinverter Market is driven by ongoing advancements in research and development of solar micro inverters. In addition to this, rapid increase in renewable energy investment is positively impacting the growth of the market during the forecast period. Furthermore, growing requirement for renewable and clean sources of energy to decrease dependency on fossil fuels is expected to bolster the growth of the market over the next few years.
The Global Solar Microinverter Market is segmented based on type, connectivity, application, sales channel, company, and region. Based on type, the market can be categorized into single phase and three phase. Out of these, the single phase segment dominated the market in 2019 with share of 79.87% and is expected to hold the largest share in the market, during the forecast period. This can be attributed to the fact that single-phase technology allows the system to have a compact size that is well suitable for residential and commercial applications.
Regionally, North America dominated the market until 2019 on account of high number of solar micro-inverter installations in the region, predominantly in US and Canada, which is contributing to dominating position of the region in the market.
Major players operating in the Global Solar Microinverter Market include SMA Solar Technology AG, Darfon Electronics Corp., ABB Ltd., Altenergy Power System Inc., Enphase Energy Inc, SolarEdge Technologies, Inc., SunPower Corporation, Chilicon Power, LLC, I Energy Corporation Limited, NEP Microinverter Inc. and others. The key market players are adopting some competitive strategies such as mergers & acquisitions, partnership, agreements in order to expand their geographic reach and to increase their customer bases.
Years considered for this report:
- Historical Years: 2015-2018
- Base Year: 2019
- Estimated Year: 2020
- Forecast Period: 2021-2025
Objective of the Study:
- To analyze and estimate the market size of global solar microinverter market from 2015 to 2018.
- To estimate and forecast the market size of global solar microinverter market from 2019 to 2025 and growth rate until 2025.
- To classify and forecast global solar microinverter market based on type, connectivity, application, sales channel, company and regional distribution.
- To identify dominant region or segment in the global solar microinverter market.
- To identify drivers and challenges for global solar microinverter market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global solar microinverter market.
- To conduct pricing analysis for global solar microinverter market.
- To identify and analyze the profile of leading players operating in global solar microinverter market.
- To identify key sustainable strategies adopted by market players in global solar microinverter market.
The publisher performed both primary as well as exhaustive secondary research for this study. Initially, the publisher sourced a list of manufacturers across the globe. Subsequently, the publisher conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the publisher could include the manufacturers which could not be identified due to the limitations of secondary research. The publisher analyzed the manufacturers and presence of all major players across the globe.
The publisher calculated the market size of global solar microinverter market by using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The publisher sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Global Solar Microinverter Market
4. Executive Summary
5. Voice of Customer
6. Global Solar Microinverter Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type (Single Phase and Three Phase)
6.2.2. By Connectivity (Integrated, Standalone)
6.2.3. By Application (Residential, Commercial, PV Power Plant)
6.2.4. By Sales Channel (Direct and Indirect)
6.2.5. By Company
6.2.6. By Region
6.3. Product Market Map
7. North America Solar Microinverter Market Outlook
7.1. Market Size & Forecast
7.2. Market Share & Forecast
7.3. North America: Country Analysis
8. Europe Solar Microinverter Market Outlook
8.1. Market Size & Forecast
8.2. Market Share & Forecast
8.3. Europe: Country Analysis
9. Asia-Pacific Solar Microinverter Market Outlook
9.1. Market Size & Forecast
9.2. Market Share & Forecast
9.3. Asia-Pacific: Country Analysis
10. South America Solar Microinverter Market Outlook
10.1. Market Size & Forecast
10.2. Market Share & Forecast
10.3. South America: Country Analysis
11. Middle East and Africa Solar Microinverter Market Outlook
11.1. Market Size & Forecast
11.2. Market Share & Forecast
11.3. MEA: Country Analysis
12. Market Dynamics
12.1. Drivers
12.2. Challenges
13. Market Trends & Developments
14. Competitive Landscape
14.1. SMA Solar Technology AG
14.2. Darfon Electronics Corp.
14.3. ABB Ltd.
14.4. Altenergy Power System Inc.
14.5. Enphase Energy Inc
14.6. SolarEdge Technologies, Inc.
14.7. SunPower Corporation
14.8. Chilicon Power, LLC
14.9. I Energy Corporation Limited
14.10. NEP Microinverter Inc.
15. Strategic Recommendations
16. About the Publisher & Disclaimer
For more information about this report visit https://www.researchandmarkets.com/r/ahm8c8
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