Micro Inverter Market

Micro Inverter
Market
Opportunity Analysis and Industry Forecast, 2016-2023
Global Opportunity Analysis and
Industry Forecast,
2014-2022

Introduction
Micro inverter market is expected to garner $2.7 billion by 2022
Micro inverter is an emerging solar inverter technology used to convert direct
current (DC) electricity generated by solar panels into alternating current (AC)
electricity
The rise in micro inverters market share in the overall photovoltaic (PV) inverter
market can be attributed to improved efficiency and higher power output
Micro inverters are highly efficient as compared to other inverters such as string
and central inverters
Technological advancements in the field of micro inverters to increase efficiency
and rise in government spending on renewable energy projects are expected to
provide greater opportunities in the market
In 2014, North America dominated the market and contributed about 45% share
of the overall market revenue, followed by Europe

Key Factors of the Market
• Swift rise in demand for greater efficiency of solar energy systems and
increased application of micro inverters in residential sector, as it is more
cost-effective and space efficient, as compared to central and string inverters
drives the market growth
• MLPE technologies such as micro inverters are swiftly gaining acceptance and
market share as their costs have come down
• Increased power output of micro inverters, cost-effectiveness and enhanced
safety features would fuel the micro inverter market growth in both
residential and commercial sector globally
• The presence of key market players in the U.S. and rising micro inverter
installation activities, primarily in residential sector, have fueled the market
growth

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Key Findings of the Market
• In 2014, single phase micro inverter type led the overall micro inverter
market revenue, but it is projected to grow at a CAGR of 26.2% during the
forecast period
• Residential segment is expected to exhibit rapid growth, owing to the rising
government tariffs and incentives
• Presently, North America leads the world micro inverter market and it is
expected to continue this trend throughout the forecast period owing to the
swift rise in electricity demand from countries such as U.S., Canada, and
Mexico
• Japan leads the overall Asia-Pacific micro inverter market with about onethird
of the market shares in the region

Market Segmentation

Key Players of the Market
• Enphase Energy, Inc.
• ABB Group
• SunPower Corporation
• SMA Solar Technology AG
• Delta Energy Systems GmbH
• SolarEdge Technologies, Inc.
• ReneSola
• Siemens AG
• P&P Energy Technology Co., Ltd., and
• Involar
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