Solar Microinverter and Power Optimizer Market

Solar Microinverter and Power Optimizer Market

Solar Microinverter and Power Optimizer Market Global Industry Assessment & Forecast

# Pages:

170

Base Year:

2021

Nov - 2021

Format:

Report Code:

VMR-2021-0868

Segments Covered
  • By Product Solar Microinverter, Power Optimizer
  • By Application Residential, Commercial, Utility
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: 4.12 Billion
Revenue 2028: 7.30 Billion
Revenue CAGR (2022 - 2028): 7.41
Fastest Growing Region (2022 - 2028) Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst

Key Insights

The global Solar Microinverter and Power Optimizer market was valued at USD 4.12 Billion in 2020 and is projected to reach USD 7.30 Billion by 2028, growing at a CAGR of 7.41% from 2021 to 2028.

Years Parameters
Historical Data (Actual Data) 2016-2020
Base Year Data 2020
Current Year Date 2021
Projected year data 2021-2026
Annual Market Size (2028) 7.30 Billion
Annual Market Size (2021)
CAGR (2021 - 2028) 7.41%

Definition And Overview

microinverters convert the direct current (DC) power collected from the solar panels to alternating current (AC), the form of electricity your home can use.


The global Solar Microinverter and Power Optimizer market is segmented based on by Product, Application, Regions, and Countries. This report provides an analysis of the global Solar Microinverter and Power Optimizer market for the historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report covers exhaustive analysis on the global Solar Microinverter and Power Optimizer industry, which includes market trends, drivers, restraints, opportunities, segmental analysis, regional trends, and competitive landscape among others. The report provides a detailed study on various product types and their applications in different industry verticals at the global/regional/country level. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments have been analyzed based on present and future trends. The research study provides complete assessment of the market on the basis of competition, drivers, restraints, opportunities, trends, and industry-authenticated data. The market is estimated from 2016 to 2020 with forecast from 2021 to 2028. 

vantage Market img 4.12 Billion 7.30 Billion

COVID-19 Impact Analysis

COVID-19 pandemic led to government of numerous countries across the globe to impose stringent lockdown measures during the primary stages. This led to numerous challenges owing to the supply chain. However, the market witnessed steady growth over the later stages as the governments lifted restrictions on construction activities. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.


The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long-term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Industry Analysis

The decrease in costs of microinverters and power optimizers and the increasing research and development by manufacturers in order to refine the technologies is anticipated to augment the growth of the market over the forecast period.

The favorable government incentives including tax rebate, low import duty, financial assistance and soft loans would further augment the growth of the market over the forecast period.

The high initial cost is expected to hinder the growth of the market in the years to come.

Parameter Details
Market Size Provided for Years 2016-2028
Base Year 2020
Historic Years 2016-2020
Forecast Years 2021-2028
Market Size Provided In Terms Of Revenue & Volume
Segments Covered Product, Application
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Countries Covered The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others
Companies Covered Tigo Energy, KACO New Energy, Enphase Energy, Delta Energy Systems, SunPower Corporation, Ampt, Altenergy Power System, Array Power, Solantro, SolarEdge Technologies.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and Asia Pacific, company market share analysis, and COVID-19 impact analysis

Product Analysis Preview

Product Analysis: Preview

On the basis of Product, the market is segmented into Solar Microinverter,Power Optimizer. Solar Microinverter held the highest share in the global Solar Microinverter and Power Optimizer market and is projected to witness the same trend during the forecast period. Companies in this sector are opting to advanced technologies in their supply chain to cater the end user requirements effectively.

Application Analysis: Preview

Based on Application, the market is segmented into Residential, Commercial, Utility,. Commercial accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028. 

Global Solar Microinverter and Power Optimizer Market: Product Segment Analysis

    • Solar Microinverter
    • Power Optimizer

Global Solar Microinverter and Power Optimizer Market: Application Segment Analysis

    • Residential
    • Commercial
    • Utility

Regional Analysis Preview

Based on region, the global Solar Microinverter and Power Optimizer market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region led the market with the largest share in 2020. Some of the key countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. Developing economies in the Asia Pacific region such as China and India are expected to make notable contributions in the growth over the coming years. Thus, it is expected that the Solar Microinverter and Power Optimizer market is anticipated to rise over the forecast timespan.

Market Size, 2021 (USD Billion)
North America
Europe
Asia Pacific
South America
Middle East Africa

Global Solar Microinverter and Power Optimizer Market: Regional Analysis

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

Competitive Landscape

The market comprises of numerous small, medium, and large sized players spread across various geographies. Some of the main competitors in the global Solar Microinverter and Power Optimizer market are Tigo Energy, KACO New Energy, Enphase Energy, Delta Energy Systems, SunPower Corporation, Ampt, Altenergy Power System, Array Power, Solantro, SolarEdge Technologies.. The report covers company market share analysis which gives a comprehensive overview of the main competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.

Global Solar Microinverter and Power Optimizer Market: Key Highlights

  • The global Solar Microinverter and Power Optimizer market was valued at USD 4.12 Billion in 2020
  • The global Solar Microinverter and Power Optimizer Market is projected to reach USD 7.30 Billion by 2028
  • Asia Pacific held the highest share of the Solar Microinverter and Power Optimizer market in 2020
  • Some of the major companies operating in the Solar Microinverter and Power Optimizer market are Tigo Energy, KACO New Energy, Enphase Energy, Delta Energy Systems, SunPower Corporation, Ampt, Altenergy Power System, Array Power, Solantro, SolarEdge Technologies.

FAQ
Frequently Asked Question
  • The global Solar Microinverter and Power Optimizer valued at 4.12 Billion in 2020 and is expected to reach 7.30 Billion in 2028 growing at a CAGR of 7.41%.

  • The prominent players in the market are Tigo Energy, KACO New Energy, Enphase Energy, Delta Energy Systems, SunPower Corporation, Ampt, Altenergy Power System, Array Power, Solantro, SolarEdge Technologies..

  • The market is project to grow at a CAGR of 7.41% between 2021 and 2028.

  • The driving factors of the Solar Microinverter and Power Optimizer include

    • The decrease in costs of microinverters and power optimizers and the increasing research and development by manufacturers in order to refine the technologies is anticipated to augment the growth of the market over the forecast period.
    • The favorable government incentives including tax rebate, low import duty, financial assistance and soft loans would further augment the growth of the market over the forecast period.

  • Asia Pacific was the leading regional segment of the Solar Microinverter and Power Optimizer in 2020.