Solar Micro Inverter Market: Global Share, Size, Trends and Growth Analysis Forecast to 2028 | iEnergy, ABB, SunPower

NEW JERSEY, UNITED STATES, January 3, 2022 /EINPresswire.com/ -- Description

New Research Study "Solar Micro Inverter Market 2022 analysis by Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges and Investment Opportunities), Size, Share and Outlook" has been added to Coherent Market insight

The global Solar Micro Inverter Market was accounted for US$ 427.2 Mn in terms of value in 2019 and is expected to grow at CAGR of 16.6% for the period 2019-2027

A solar micro inverter, also known as a microinverter, is an electronic device that converts direct current (DC) generated by a single solar module into alternating current (AC). In general, the output of multiple microinverters can be combined and fed into the power grid. Microinverters have a number of advantages, including module-level monitoring, ease of installation, increased design flexibility, and higher safety than conventional inverters. It also has a simple design, lower amperage wires, simplified stock management, and improved safety. The major disadvantage of the global solar micro inverter market is the higher initial equipment cost per peak watt. Microinverters and power optimizers are referred to as module-level power electronics because they provide significant efficiency over conventional systems and use Maximum Power Point Tracking (MPPT). As a result, the output from each module is maximised, and the overall system efficiency is improved.

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This report includes information on the industry's market growth as well as key segmentation variables that help the global Solar Micro Inverter Market prosper in today's environment. The report also emphasises the importance of regional classification in the global Solar Micro Inverter Market. Due to growing demand, the worldwide Solar Micro Inverter Market will eventually create more revenue and have a higher market size than the previous projected period.

Major Key players in this Market:

· SunPower Corporation
· Enphase Energy Inc.
· iEnergy Co. Ltd.
· Altenergy Power System Inc.
· Chilicon Power LLC
· SMA Solar Technology AG
· Sparq Systems
· SMA Solar Technology AG
· Northern Electric and Power Co. Ltd
· ABB Ltd.
· LG Electronics
· Darfon Electronics Corporation.

Drivers & Trends

A photovoltaic module with an integrated microinverter is known as an AC module. It provides several additional benefits, which are expected to propel integrated microinverter systems to the forefront of the market during the forecast period. For example, it can replace a junction box and shorten DC wiring, saving up to US$ 0.03/watt and improving safety. It also reduces integration installation time, saving 30-50 percent in labour costs. Furthermore, integrated modules provide numerous benefits to microinverter vendors. For example, lower customer acquisition costs, broader warranty standards, and so on. As a result of these factors, the global solar micro inverter market is expected to grow during the forecast period.

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Global Solar Micro Inverter Market Segmented into:

By System Type
· Stand Alone
· Integrated (ACModule)

By End- Use
· Residential
· Commercial
· Utility

Regional Classification

The Solar Micro Inverter market report sheds light on the analysis as well as market forecast on the regional and also the global level. Delving deep into the report, it also covers the various growth opportunities and recent trends across five regions, including the Asia Pacific (APAC), North America, Latin America, Europe, and the Middle East & Africa (MEA). An in-depth study has been carried out covering every region with regard to the prevalent trends, outlook, and different opportunities that are likely to impact the market positively in the long run. The report also offers the most up to date information related to the technological developments and growth prospects based on the regional landscape.

Method of Research

The report provides first-hand information performed by key players using quantitative & qualitative assessment as per the parameters of the Porter’s Five Force Model. It throws light on the macro-economic indicators, parent market trends, and growth factors. Primary (surveys, interviews, and questionnaires) & secondary researches (SEC filings, white paper references, and published reports) have been carried out to provide a better understanding of the market. The data used in the report has passed multi-step verification to assure both the authenticity as well as the quality of the insight that is provided. Bottom-up & top-down approaches are also used for ensuring the credibility of the valuations and market segments.

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The following are the study objectives for this report:

· SWOT Analysis focuses on worldwide main manufacturers to define, assess, and analyse market competition. By kind, application, and region, the market is defined, described, and forecasted.
· Examine the global and main regional market potential and advantage, opportunity and challenge, constraints and risks.
· Determine whether trends and factors are driving or limiting market growth.
· By identifying high-growth categories, stakeholders would be able to analyse market potential.
· Conduct a strategic study of each submarket's growth trends and market contribution.
· Expansions, agreements, new product launches, and acquisitions in the market are all examples of competitive developments.
· To create a strategic profile of the main players and analyse their growth plans in depth.

𝐀𝐛𝐨𝐮𝐭 𝐂𝐨𝐡𝐞𝐫𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:-

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