Micro-Inverter Market by Component (Hardware, Software, and Services), Type (Single Phase and Three Phase), Communication Technology, Sales Channel, Application (Residential, Commercial, and PV Power Plant), and Geography - Global Forecast to 2023

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Date: 18-Sep-2018
No. of pages: 171
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“Growing awareness due to their inherent benefits over conventional solar inverter technologies, propelling growth of micro-inverter market”

The global micro-inverter market expected to grow at a CAGR of 19.3% from 2018 to 2023 to reach USD 5.88 billion by 2023 from USD 2.44 billion in 2018. Micro-inverter is gaining popularity particularly due to several advantages they offer over conventional inverters. The main advantage of micro-inverters is that its power output is unaffected despite shading of one or more solar panels, deposition of debris or snow on any solar module, or even at an event of complete module failure. Micro-inverter is able to harvest optimum power from each module by performing maximum power point tracking (MPPT). Micro-inverters are mainly used in applications such as residential, commercial, and PV power plant. Micro-inverters are highly in demand for residential applications. However, the major factor restraining the micro-inverter market growth is the high competition from conventional inverter technologies.

“Micro-inverter market to be driven by residential application during forecast period”

The residential application is expected to hold a significant share of the micro-inverter market during the forecast period. The rising energy cost, coupled with supportive government policies worldwide, has led to increasing adoption of energy conservation measures for controlling the increased energy expenditure in residential applications. Countries such as the US, Australia, and the Netherlands, which are among the prominent markets for residential rooftop PV installations, have widely adopted micro-inverters over conventional inverters.

“Micro-inverter market in APAC to grow at highest CAGR during forecast period”

The market in APAC for micro-inverters is expected to grow at the highest CAGR from 2018 to 2023. APAC has several operational micro-inverter installations for residential, commercial, and PV power plant applications. Japan and Australia have been the major adopters of micro-inverter technology. Also, the growth in residential rooftop solar PV installations in India and Japan encourages manufacturers to cater to the needs of potential customers in this region.

In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews have been conducted with key officials in the micro-inverter market.

Following is the breakup of the primary participants for the report:


  • By Company Type: Tier 1 =50 %, Tier 2 = 30%, and Tier 3 = 20%

  • By Designation: C-Level Executives = 60%, Directors = 25%, and Others = 15%

  • By Region: North America= 35%, Europe = 30%, APAC = 25%, and RoW = 10%


Moreover, the report profiles the key players in the micro-inverter market and analyzes their market ranking. The prominent players profiled in this report are Enphase Energy (US), Altenergy Power System (US), Chilicon Power (US), SunPower (China), Siemens (Germany), Envertech (China) ReneSola (US), Darfon Electronics (China), and AEconversion (Germany).

Research Coverage:

This research report categorizes the micro-inverter market based oncomponent, type, communication technology, sales channel, application, and region.Moreover, the report provides a description of the major drivers, restraints, challenges, and opportunities pertaining to this market as well as the value chain analysis and market ranking analysis.

Reasons to Buy the Report:

The report would help the leaders/new entrants in the micro-inverter market in the following ways:


  • The report segments the micro-inverter market comprehensively and provides the market size estimation for all subsegments across different regions.

  • The report helps stakeholders understand the pulse of the market and provides them with the information on key drivers, restraints, challenges, and opportunities for the micro-inverter market.

  • The report would help stakeholders understand their competitors better and gain insights to improve their position in the micro-inverter market. The competitive landscape section describes the competitor ecosystem.

Micro-Inverter Market by Component (Hardware, Software, and Services), Type (Single Phase and Three Phase), Communication Technology, Sales Channel, Application (Residential, Commercial, and PV Power Plant), and Geography - Global Forecast to 2023

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Definition
1.3 Scope of the Study
1.3.1 Geographic Scope
1.3.2 Years Considered
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.2 Secondary and Primary Research
2.2.1 Secondary Data
2.2.1.1 Secondary Sources
2.2.2 Primary Data
2.2.2.1 Primary Sources
2.2.2.2 Key Industry Insights
2.2.2.3 Breakdown of Primaries
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Data Triangulation
2.5 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Growth Opportunities in Micro-Inverter Market
4.2 Micro-Inverter Market, By Type
4.3 Micro-Inverter Market in North America, By Country and Application
4.4 Micro-Inverter Market, By Application
4.5 Micro-Inverter Market, By Country, 2018

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.3 Drivers
5.3.1.1 Benefits Over Conventional Solar Inverter Technologies
5.3.1.2 Upsurge in Renewable Energy Investment
5.3.1.3 Demand for Micro-Inverters Due to Remote Monitoring Capabilities
5.3.1.4 Rise in Residential Solar Rooftop Installations
5.4 Restraints
5.4.1.1 Higher Initial and Maintenance Cost of Micro-Inverters
5.5 Opportunities
5.5.1.1 Increase in Solar PV Installations
5.5.1.2 Technological Innovations With Improved Capabilities
5.6 Challenges
5.6.1.1 High Competition From Conventional Inverter Technologies
5.7 Value Chain Analysis

6 Micro-Inverter Market, By Component
6.1 Introduction
6.2 Hardware
6.3 Software
6.4 Services

7 Micro-Inverter Market, By Type
7.1 Introduction
7.2 Single Phase
7.3 Three Phase

8 Micro-Inverter Market, By Communication Technology
8.1 Introduction
8.2 Wired
8.3 Wireless

9 Micro-Inverter Market, By Sales Channel
9.1 Introduction
9.2 Direct
9.3 Indirect

10 Micro-Inverter Market, By Application
10.1 Introduction
10.2 Residential
10.3 Commercial
10.4 PV Power Plant

11 Geographic Analysis
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Netherlands
11.3.5 Rest of Europe
11.4 APAC
11.4.1 China
11.4.2 Japan
11.4.3 India
11.4.4 Australia
11.4.5 Rest of APAC
11.5 RoW
11.5.1 Middle East
11.5.2 South America
11.5.3 Africa

12 Competitive Landscape
12.1 Overview
12.2 Ranking Analysis, 2017
12.3 Competitive Situations and Trends
12.3.1 Product Launches and Developments
12.3.2 Acquisition, Collaborations, and Partnerships
12.3.3 Contracts, Joint Ventures, and Expansions

13 Company Profiles

14 Company Profiles
14.1 Introduction
14.1.1 Enphase Energy
14.1.1.1 Overview
14.1.1.2 Products Offered
14.1.1.3 Recent Developments
14.1.1.4 SWOT Analysis
14.1.1.5 MnM View
14.1.2 Darfon Electronics
14.1.2.1 Overview
14.1.2.2 Products Offered
14.1.2.3 Recent Developments
14.1.2.4 SWOT Analysis
14.1.2.5 MnM View
14.1.3 SunPower
14.1.3.1 Overview
14.1.3.2 Products Offered
14.1.3.3 Recent Developments
14.1.3.4 MnM View
14.1.3.5 SWOT Analysis
14.1.4 Altenergy Power System
14.1.4.1 Overview
14.1.4.2 Products Offered
14.1.4.3 Recent Developments
14.1.4.4 SWOT Analysis
14.1.4.5 MnM View
14.1.5 ReneSola
14.1.5.1 Overview
14.1.5.2 Products Offered
14.1.5.3 Recent Developments
14.1.5.4 SWOT Analysis
14.1.5.5 MnM View
14.1.6 SMA Solar Technology
14.1.6.1 Overview
14.1.6.2 Products Offered
14.1.6.3 Recent Developments
14.1.6.4 MnM View
14.1.7 Chilicon Power
14.1.7.1 Overview
14.1.7.2 Products Offered
14.1.7.3 Recent Developments
14.1.7.4 MnM View
14.1.8 AEconversion
14.1.8.1 Overview
14.1.8.2 Products Offered
14.1.8.3 MnM View
14.1.9 Siemens
14.1.9.1 Overview
14.1.9.2 Products Offered
14.1.9.3 MnM View
14.2 Other Companies
14.2.1 Sparq Systems
14.2.1.1 Company Snapshot
14.2.2 Omnik New Energy
14.2.2.1 Company Snapshot
14.2.3 Sensata Technologies
14.2.3.1 Company Snapshot
14.2.4 Saronic (EU) Power Tech
14.2.4.1 Company Snapshot
14.2.5 Enluxsolar
14.2.5.1 Company Snapshot
14.2.6 U R Energy
14.2.6.1 Company Snapshot
14.2.7 Samil Power
14.2.7.1 Company Snapshot
14.2.8 Involar
14.2.8.1 Company Snapshot

15 Appendix
15.1 Insights of Industry Experts
15.2 Discussion Guide
15.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
15.4 Introducing RT: Real-Time Market Intelligence
15.5 Available Customizations
15.6 Related Reports

List of Tables

Table 1 Micro-Inverter Market, in Terms of Value and Volume, 2015–2023
Table 2 Micro-Inverter Market, By Component, 2015–2023 (USD Million)
Table 3 Micro-Inverter Market, By Type, 2015–2023 (USD Million)
Table 4 Single-Phase Micro-Inverter Market, By Application, 2015–2023 (USD Million)
Table 5 Three-Phase Micro-Inverter Market, By Application, 2015–2023 (USD Million)
Table 6 Micro-Inverter Market, By Communication Technology, 2015–2023 (USD Million)
Table 7 Micro-Inverter Market for Wired Communication Technology, By Application, 2015–2023 (USD Million)
Table 8 Micro-Inverter Market for Wireless Communication Technology, By Application, 2015–2023 (USD Million)
Table 9 Micro-Inverter Market, By Sales Channel, 2015–2023 (USD Million)
Table 10 Micro-Inverter Market for Direct Sales Channel, By Application, 2015–2023 (USD Million)
Table 11 Micro-Inverter Market for Indirect Sales Channel, By Application, 2015–2023 (USD Million)
Table 12 Micro-Inverter Market, By Application, 2015–2023 (USD Million)
Table 13 Micro-Inverter Market for Residential Applications, By Type, 2015–2023 (USD Million)
Table 14 Micro-Inverter Market for Residential Applications, By Communication Technology, 2015–2023 (USD Million)
Table 15 Micro-Inverter Market for Residential Applications, By Sales Channel, 2015–2023 (USD Million)
Table 16 Micro-Inverter Market for Residential Applications, By Region, 2015–2023 (USD Million)
Table 17 Micro-Inverter Market in North America for Residential Applications, By Country, 2015–2023 (USD Million)
Table 18 Micro-Inverter Market in Europe for Residential Applications, By Country, 2015–2023 (USD Million)
Table 19 Micro-Inverter Market in APAC for Residential Applications, By Country, 2015–2023 (USD Million)
Table 20 Micro-Inverter Market in RoW for Residential Applications, By Region, 2015–2023 (USD Million)
Table 21 Micro-Inverter Market for Commercial Applications, By Type, 2015–2023 (USD Million)
Table 22 Micro-Inverter Market for Commercial Applications, By Communication Technology, 2015–2023 (USD Million)
Table 23 Micro-Inverter Market for Commercial Applications, By Sales Channel, 2015–2023 (USD Million)
Table 24 Micro-Inverter Market for Commercial Applications, By Region, 2015–2023 (USD Million)
Table 25 Micro-Inverter Market in North America for Commercial Applications, By Country, 2015–2023 (USD Million)
Table 26 Micro-Inverter Market in Europe for Commercial Applications, By Country, 2015–2023 (USD Million)
Table 27 Micro-Inverter Market in APAC for Commercial Applications, By Country, 2015–2023 (USD Million)
Table 28 Micro-Inverter Market in RoW for Commercial Applications, By Region, 2015–2023 (USD Million)
Table 29 Micro-Inverter Market for PV Power Plant Applications, By Type, 2015–2023 (USD Million)
Table 30 Micro-Inverter Market for PV Power Plant Applications, By Communication Technology, 2015–2023 (USD Million)
Table 31 Micro-Inverter Market for PV Power Plant Applications, By Sales Channel, 2015–2023 (USD Million)
Table 32 Micro-Inverter Market for PV Power Plant Applications, By Region, 2015–2023 (USD Million)
Table 33 Micro-Inverter Market in North America for PV Power Plant Applications, By Country, 2015–2023 (USD Million)
Table 34 Micro-Inverter Market in Europe for PV Power Plant Applications , By Country, 2015–2023 (USD Million)
Table 35 Micro-Inverter Market in APAC for PV Power Plant Applications, By Country, 2015–2023 (USD Million)
Table 36 Micro-Inverter Market in RoW for PV Power Plant Applications, By Region, 2015–2023 (USD Million)
Table 37 Micro-Inverter Market, By Region, 2015–2023 (USD Million)
Table 38 Micro-Inverter Market in North America, By Country, 2015–2023 (USD Million)
Table 39 Micro-Inverter Market in North America, By Application, 2015–2023 (USD Million)
Table 40 Micro-Inverter Market in US, By Application, 2015–2023 (USD Million)
Table 41 Micro-Inverter Market in Canada, By Application, 2015–2023 (USD Million)
Table 42 Micro-Inverter Market in Mexico, By Application, 2015–2023 (USD Million)
Table 43 Micro-Inverter Market in Europe, By Country, 2015–2023 (USD Million)
Table 44 Micro-Inverter Market in Europe, By Application, 2015–2023 (USD Million)
Table 45 Micro-Inverter Market in Germany, By Application, 2015–2023 (USD Million)
Table 46 Micro-Inverter Market in UK, By Application, 2015–2023 (USD Million)
Table 47 Micro-Inverter Market in France, By Application, 2015–2023 (USD Million)
Table 48 Micro-Inverter Market in Netherlands, By Application, 2015–2023 (USD Million)
Table 49 Micro-Inverter Market in RoE, By Application, 2015–2023 (USD Million)
Table 50 Micro-Inverter Market in APAC, By Country, 2015–2023 (USD Million)
Table 51 Micro-Inverter Market in APAC, By Application, 2015–2023 (USD Million)
Table 52 Micro-Inverter Market in China, By Application, 2015–2023 (USD Million)
Table 53 Micro-Inverter Market in Japan, By Application, 2015–2023 (USD Million)
Table 54 Micro-Inverter Market in India, By Application, 2015–2023 (USD Million)
Table 55 Micro-Inverter Market in Australia, By Application, 2015–2023 (USD Million)
Table 56 Micro-Inverter Market in Rest of APAC, By Application, 2015–2023 (USD Million)
Table 57 Micro-Inverter Market in RoW, By Region, 2015–2023 (USD Million)
Table 58 Micro-Inverter Market in RoW, By Application, 2015–2023 (USD Million)
Table 59 Micro-Inverter Market in Middle East, By Application, 2015–2023 (USD Thousand)
Table 60 Micro-Inverter Market in South America, By Application, 2015–2023 (USD Million)
Table 61 Micro-Inverter Market in Africa, By Application, 2015–2023 (USD Million)
Table 62 Micro-Inverter Market: Ranking Analysis (2017)

List of Figures

Figure 1 Research Design
Figure 2 Bottom-Up Approach
Figure 3 Top-Down Approach
Figure 4 Data Triangulation
Figure 5 Snapshot of Micro-Inverter Market: Single-Phase Micro-Inverters to Hold Larger Market Size in 2018
Figure 6 Wired Communication Technology to Dominate Micro-Inverter Market During Forecast Period in Terms of Size
Figure 7 Micro-Inverter Market for Residential Applications to Grow at Highest CAGR During Forecast Period
Figure 8 APAC to Hold Largest Share of Micro-Inverter Market in 2018
Figure 9 Rise in Residential Solar Rooftop Installations to create Attractive Growth Opportunities for Players in Micro-Inverter Market
Figure 10 Single-Phase Micro-Inverter Market to Grow at Highest CAGR During Forecast Period
Figure 11 US to Hold Largest Share of Micro-Inverter Market in North America By 2023
Figure 12 Residential Application to Dominate Micro-Inverter Market During 2018–2023
Figure 13 US Expected to Hold Largest Share of Micro-Inverter Market in 2018
Figure 14 Inherent Advantages Drive Micro-Inverter Market
Figure 15 Global Investment in Renewable Energy Sources, 2004–2017 (USD Billion)
Figure 16 Global Shipment of Solar Inverter, 2015
Figure 17 Micro-Inverter Market: Major Value Added By Manufacturers and Component Providers
Figure 18 Micro-Inverter Market, By Component
Figure 19 Services to Grow at Highest CAGR During Forecast Period
Figure 20 Micro-Inverter Market, By Type
Figure 21 Market for Single-Phase Micro-Inverters to Grow at Higher CAGR From 2018 to 2023
Figure 22 Market for Residential Application to Grow at Higher CAGR From 2018 to 2023
Figure 23 PV Power Plant to Dominate Three-Phase Micro-Inverter Market From 2018 to 2023
Figure 24 Micro-Inverter Market, By Communication Technology
Figure 25 Wireless Communication Technology to Grow at Higher CAGR From 2018 to 2023
Figure 26 Residential Application to Dominate Micro-Inverters Market for Wired Communication Technology During Forecast Period
Figure 27 Micro-Inverter Market, By Sales Channel
Figure 28 Indirect Sales Channel to Grow at Higher CAGR From 2018 to 2023
Figure 29 Residential Application to Dominate Micro-Inverter Market for Indirect Sales Channel From 2018 to 2023
Figure 30 Micro-Inverter Market, By Application
Figure 31 Residential Application to Dominate Micro-Inverter Market During Forecast Period
Figure 32 North America to Dominate Micro-Inverter Market for Residential Applications During Forecast Period
Figure 33 Micro-Inverter Market in India to Grow at Highest CAGR During Forecast Period
Figure 34 US to Hold Largest Size of Micro-Inverter Market for Commercial Applications During Forecast Period
Figure 35 Wired Communication Technology to Hold Larger Size of Micro-Inverter Market for PV Power Plant Applications During Forecast Period
Figure 36 Micro-Inverter Market for PV Power Plant Applications in Netherlands to Grow at Highest CAGR During Forecast Period
Figure 37 Geographic Snapshot: Micro-Inverter Market in India to Grow at Highest CAGR During Forecast Period
Figure 38 North America Held Largest Share of Micro-Inverter Market in 2017
Figure 39 North America: Snapshot of Micro-Inverter Market
Figure 40 Micro-Inverter Market in Mexico to Grow at Highest CAGR During Forecast Period
Figure 41 Residential Application to Dominate Micro-Inverter Market in Canada During Forecast Period
Figure 42 Europe: Snapshot of Micro-Inverter Market
Figure 43 Micro-Inverter Market in UK to Grow at Highest CAGR During Forecast Period
Figure 44 Commercial Application to Dominate Micro-Inverter Market in RoE By 2023
Figure 45 APAC: Snapshot of Micro-Inverter Market
Figure 46 Micro-Inverter Market in India to Grow at Highest CAGR During Forecast Period
Figure 47 Residential Application to Hold Largest Size of Micro-Inverter Market in Japan During the Forecast Period
Figure 48 South America to Dominate Micro-Inverter Market in RoW During Forecast Period
Figure 49 Product Launches and Developments Adopted as Key Growth Strategies From January 2015 to February 2018
Figure 50 Enphase Energy: Company Snapshot
Figure 51 Darfon Electronics: Company Snapshot
Figure 52 SunPower: Company Snapshot
Figure 53 ReneSola: Company Snapshot
Figure 54 SMA Solar Technology: Company Snapshot
Figure 55 Siemens AG : Company Snapshot
Figure 56 Marketsandmarkets Knowledge Store Snapshot
Figure 57 Marketsandmarkets Knowledge Store: Semiconductor & Electronics Industry Snapshot

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