The future of the global solar microinverter market looks promising with opportunities in the residential and commercial markets. The global solar microinverter market is expected to reach an estimated $1.3 billion by 2030 with a CAGR of 18.5% from 2024 to 2030. The major drivers for this market are increasing embrace of solar energy as a means to decrease carbon emissions and uphold sustainability principles, growing trend of optimizing individual solar panels for enhanced performance, and increasing need for improved effectiveness and dependability.
Some of the key questions
answered in this exclusive report are:
Q.1. What are some of
the most promising, high-growth opportunities for the solar microinverter
market by component (hardware and software), connectivity (standalone and
on-grid), type (single phase and three phase), application (residential,
commercial, and others), and region (North America, Europe, Asia Pacific, and
the Rest of the World)?
Q.2. Which segments will
grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and
why?
Q.4. What are the key
factors affecting market dynamics? What are the key challenges and business
risks in this market?
Q.5. What are the
business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market
and the reasons behind them?
Q.7. What are some of
the changing demands of customers in the market?
Q.8. What are the new
developments in the market? Which companies are leading these developments?
Q.9. Who are the major
players in this market? What strategic initiatives are key players pursuing for
business growth?
Q.10. What are some of
the competing products in this market and how big of a threat do they pose for
loss of market share by material or product substitution?
Q.11. What M&A
activity has occurred in the last 5 years and what has its impact been on the
industry?
Market Segmentation:
In this market, hardware
and software are the major segments of solar microinverter market by component.
Lucintel forecasts that hardware will remain the larger segment over the
forecast period because hardware components encompass the tangible parts within
a microinverter unit, including semiconductor devices, capacitors,
transformers, and thermal management systems, as well as, it provides high
stable energy production, reduces maintenance requirements, and increases
customer satisfaction.
Within this market,
residential will remain the larger segment over the forecast period because in
residential settings the microinverters are seamlessly incorporated with
individual solar panels ao as to effectively enhancing energy production by
minimizing shading and panel mismatch challenges that results in each panel
operating independently, thereby maximizing the overall system's output.
APAC will remain the
largest region over the forecast period due to rising need for energy to power
a multitude of activities, supportive government programs, increasing
environmental consciousness, and declining costs of solar panels in this
region.
Chilicon Power, Enphase
Energy, Altenergy Power System, Sunpower Corporation, Darfon Electronics
Corporation, Delta Energy Systems, Siemens, Alencon Systems, Renesola, and
Enluxsolar are the major suppliers in the solar microinverter market.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email roy.almaguer@lucintel.com
Tel. 972.636.5056
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