Authored By: Sarah
21 Dec 2020

Solar Microinverter Market Size to Grow by $ 618.54 mn through 2020-2024

The solar microinverter market is expected to grow by $ 618.54 mn, accelerating at a CAGR of almost 12% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. View Free Sample Report

Solar Microinverter Market: Segmentation by End-user

This report provides a detailed analysis of the market by End-user (Residential and Non-residential) and Geography (North America, Europe, APAC, South America, and MEA). This research report will provide insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges which are likely to influence market growth during the forecast period. These insights are expected to equip clients with reliable information based upon which they can design a growth strategy for their business and area of operations.

Solar Microinverter Market 2020-2024 to Post a CAGR of Over 12% | North America to Dominate With 69% Market Growth

Solar Microinverter Market: Vendor Analysis

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ABB Ltd., Autarco Group BV, Chilicon Power LLC, Enphase Energy Inc., LeadSolar Energy Co. Ltd., ReneSola Ltd., Schneider Electric SE, Siemens AG, SMA Solar Technology AG, and SolarEdge Technologies Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.

The Global Solar Microinverter Market is expected to grow by USD 618.54 million accelerate at a CAGR of over 12% during the forecast period. Techanvio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. Download our free sample report with COVID-19 analysis 

Solar Microinverter Market 2020-2024 to Post a CAGR of Over 12% | North America to Dominate With 69% Market Growth

Solar Microinverter Market: Segmentation by End-user

During 2019, the residential segment dominated the Global Solar Microinverter Market in 2019. The residential segment of the global microinverters market is expected to grow significantly during the forecast period owing to the increasing number of residential solar PV installations in APAC and North America. Government regulations to promote the use of renewable energy are encouraging end-users to install residential solar microinverters, resulting in the growth of the solar microinverter market during the forecast period. However, rise in wind energy consumption may impede market growth.

North America will offer several growth opportunities to market vendors during the forecast period. The increasing deployment of microgrids will significantly influence solar microinverter market's growth in this region. 69% of the market’s growth will originate from North America during the forecast period. The US is the key markets for solar microinverter market in North America. This report provides an accurate prediction of the contribution of all segments to the growth of the solar microinverter market size.

Solar Microinverter Market: Vendor Analysis

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ABB Ltd., Autarco Group BV, Chilicon Power LLC, Enphase Energy Inc., LeadSolar Energy Co. Ltd., ReneSola Ltd., Schneider Electric SE, Siemens AG, SMA Solar Technology AG, and SolarEdge Technologies Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio forecasts three scenarios (optimistic, probable, and pessimistic) to evaluate the impact of COVID-19 Download a Free Sample Report. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

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