‘ Global inverter market with impact analysis of COVID-19 by supply, communication technology, type, energy rating, communication type, sales channel, application (residential, commercial, PV power plant) and geography – Outlook report added Through 2025 to ResearchAndMarkets. Com advance.
The global mini inverter market size is estimated at US $ 2. $ 5 billion in 2020 and is expected to reach $ 6 billion. 5 billion by 2025; It is expected to grow at a compound annual growth rate of 20%. 8% from 2020 to 2025.
The growth of the micro inverter market is mainly driven by an increase in demand for micro inverter solutions in residential applications, increased visibility in relation to the inherent advantages it provides, such as remote monitoring capabilities, increased investment in renewable energy, and government initiatives encouraging the adoption of renewable energy.
COVID-19 has emerged as a global pandemic that has spread to more than 215 countries around the world and disrupted various industries around the world.. Prominent players across industries have been affected by the pandemic. The expected decline in the growth of end-user applications could have a major direct impact on the micro-inverter market.
Manufacturers mainly provide micro inverters to end users through indirect sales channels or third-party providers. Most of the major players in the market have well-established sales networks and distribute their products all over the world. Micro inverter systems are mainly adopted in residential and commercial applications. End-users may lack the expertise to incorporate microconverters into solar panels; Hence, installations are mostly done by system integrators or third-party providers appointed by the companies. Due to these factors, the indirect sales channel segment is expected to retain more market share during the forecast period.
Micro-converters are mainly adopted for residential applications. Residential PV installations on solar roofs have seen significant growth over the past few years. Exorbitant energy costs, along with supportive government policies around the world, have led to an increased adoption of energy conservation measures to control energy expenditure in residential applications..
Countries such as the United States, Australia and the Netherlands, which are among the notable markets for residential rooftop PV installations, have widely adopted micro-inverters instead of conventional ones. Additionally, countries such as India, Mexico, the United Kingdom, and Brazil are currently experiencing significant growth in the residential solar market. These factors are expected to create a great demand for micro-converters.
The growth of the mini inverter market in the Asia Pacific region can be attributed to the increasing demand for small inverters from major countries, such as Japan, Australia, India and China in the region. The market in the Asia-Pacific region consists of developing economies such as China and India.
These countries store huge potential for growth of the mini inverter market in many application areas. The micro inverter market in the Asia Pacific region is growing rapidly with the increasing adoption of commercial solar PV systems for industrial, residential and other applications.. The growing demand for micro inverters for residential applications in India, China and Japan is among the main factors driving the growth of this market.
The major players in the mini inverter market include Enphase Energy (US), Altenergy Power System (US), Darfon Electronics (Taiwan), ReneSola (China), AEconversion (Germany), Chilicon Power (US), among others.. .
Technical advantages of micro-inverters over conventional solar inverters
Significant capital flows into the renewable energy sector
Micro-inverters are in high demand due to remote monitoring capabilities
Increasing the number of residential installations powered by solar energy on rooftops
Demand for small transformers decreases as electricity requirements from commercial and industrial end users decrease due to the COVID-19 outbreak
High installation and maintenance costs for small transformers
An increase in the number of solar PV installations due to incentive schemes by governments in various countries
Technological innovations in inverters to improve their capabilities
Pricing pressure on small transformer manufacturers
Safety hazards associated with high DC voltage
Altenergy Power System
Northern Electric & Power
Saronic Energy Technology (EU)
Grace Renewable Energy
Solar panels plus
Zhejiang Sandy Electric
Texas Instruments Corporation
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Solar Micro-Inverter, Industry, Enphase Energy, Market Share, Market Analysis, PV Cells, Forecast, Renesola, Energy Inverter
World News – AU – Global Micro-inverter Market Report 2020 -2025 – The main players are Enphase Energy, Altenergy Power System, Darfon Electronics, ReneSola, AEconversion, and Chilicon Power – ResearchAndMarkets. Com
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