Jul 13, 2021   SOURCE: BusinessWire

Global Solar Microinverter Markets, Opportunity and Forecast Report 2021-2026 - ResearchAndMarkets.com

The "Solar Microinverter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

The global solar microinverter market exhibited strong growth during 2015-2020. Looking forward, the global solar microinverter market to grow at a CAGR of around 14% during 2021-2026.

A solar microinverter is an electronic equipment which is used in photovoltaic (PV) cells for changing the waveform of the current. The inverter usually functions in a parallel circuit and is used for changing direct current (DC) into alternating current (AC). The PV cell system consists of several single solar panels, each comprising a microinverter.

The device can separate power output from each panel and convert it into grid voltage. In comparison to conventional string converters, they have various advantages including the ability to maintain a consistent flow of power despite shading of panels, immense design flexibility, the capability to maximize power from solar panels through the Maximum Power Point Tracking (MPPT) technology and reduced risk of fire.

The market is driven by the increasing deployment of solar microgrids, along with the rising energy demand across both the commercial and industrial sectors. The increase in residential solar rooftop installations is also acting as another major growth-inducing factor.

Additionally, the increasing utilization of Building-Integrated Photovoltaics (BIPV) is also augmenting the growth of the market. The BIPV is the integration of PV power generators into the building envelope materials that act as an ancillary or principal source of electrical power. Microinverters assist in maintaining the ambient temperatures while protecting the building against various fire hazards.

Moreover, factors including growing product demand owing to its remote monitoring capabilities, increasing research and development (R&D) activities and the implementation of government initiatives to promote the use of renewable energy is further driving the growth of the market.

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being

  • ABB Asea Brown Boveri Ltd
  • Chilicon Power
  • LLC
  • Enphase Energy Inc.
  • Altenergy Power System Inc.
  • SunPower Corporation
  • Darfon Electronics Corporation
  • Siemens AG
  • Delta Energy Systems (Germany) GmbH
  • Alencon Systems LLC
  • ReneSola Ltd.
  • Omnik New Energy Co. Ltd.
  • EnluxSolar Co. Ltd.
  • Sungrow Deutschland GmbH
  • Sensata Technologies Inc.

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

5 Global Solar Microinverter Market

5.1 Market Overview

5.2 Market Performance

5.3 Impact of COVID-19

6 SWOT Analysis

7 Value Chain Analysis

8 Porter's Five Forces Analysis

9 Market Breakup by Connectivity

9.1 Standalone

9.2 On-Grid

10 Market Breakup by Component

10.1 Hardware

10.2 Software

11 Market Breakup by Communication Channel

11.1 Wired

11.2 Wireless

12 Market Breakup by Type

12.1 Single Phase

12.2 Three Phase

13 Market Breakup by Application

13.1 Residential

13.2 Commercial

14 Market Breakup by Region

15 Price Analysis

16 Competitive Landscape

16.1 Market Structure

16.2 Key Players

16.3 Profiles of Key Players

For more information about this report visit https://www.researchandmarkets.com/r/f3dmqq