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A qualitative report published by Market intelligence data research on the solar Micro Inverters Market offers an in-depth examination of the current trends, latest expansions, conditions, market size, varidrivers, limitations, and key players along with their profile details. The Solar Micro Inverters market report offers the historical data for 2017 to 2022 and also makes available the forecast data from the year 2023 to 2029 which is based on revenue. With the help of all this information research report helps the Market contributors to expand their market positions. With the benefit of all these explanations, this market research report recommends a business strategy for present market participants to strengthen their role in the market. This report analyzes the impact of the Covid 19 pandemic on the Solar Micro Inverters Market from a Global and Regional perspective.
Global demand for the Solar Micro Inverters market is expected to be at a CAGR of 18.5% from 2023 to 2029, reaching a valuation of US$ 5,716.5 Million by 2029. The market is supported by:
Global small and medium entrants and other venture capital-funded start-ups, most notably in developing regions The growing number of investments in technologies to meet the expansion needs Ongoing diversification in product portfolios Increasing demand from residential and commercial sectors
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Top Key Players are covered in the Solar Micro Inverters Market Report:
ABB,SMA Solar Technology,SolarEdge Technologies,Chilicon Power,Enphase Energy,Renesola,Enphase
Industry News:
In August 2022 , Enphase Energy Inc. acquired GreeNetworks, which provides inteof things software solutions for customers in Germany. The acquisition is expected to provide installers with a full range of home energy management systems and facilitate green EV charging.
Top 3 Trends Boosting Growth in the Solar Microinverter Market
Rising Spending on Renewable Energy
People are becoming more interested in using solar panels and other alternative energy sources due to growing concerns about the depletion of fossil fuels and rising emission levels. Increasing solar panel installations will eventually spur microinverter sales as they are a crucial component of solar energy systems. China alone, according to the International Energy Agency (IEA), was in charge of 75% of the rise in yearly solar PV installations between 2022 and 2023.
Rapid Shift from Conventional String and Central Inverters
In comparison to traditional string and central inverters, micro solar inverters have several advantages, including high energy yield, module-level monitoring capabilities, longer life cycles, improved safety, better flexibility, simplicity, higher labor efficiency, and no single point of failure. These important advantages have recently expanded the use of microinverters in the solar industry.
Increasing Popularity of Solar PV Inverters
The rising adoption of solar panels across the residential sector will continue to push the demand for microinverters during the forecast period. With the rapid transition towards renewable energy resources, robust urbanization, growing popularity of PV inverters, and presence of leading micro inverter manufacturers worldwide, solar micro inverters are expected to exhibit high demand during the projection period.
Regional Analysis:
The region-wise coverage of the market is mentioned in the report, mainly focusing on the regions:
North America (NA) – US, Canada, and Mexico
Europe (EU) – UK, Germany, France, Italy, Russia, Spain & Rest of Europe
Asia-Pacific (APAC) – China, India, Japan, South Korea, Australia & Rest of APAC
Latin America (LA) – Brazil, Argentina, Peru, Chile & Rest of Latin America
The Middle East and Africa (MEA) – Saudi Arabia, UAE, Israel, South Africa
Development of Industrial Automation in the North American Region Drives Global Growth
Significant opportunities for new sales exist in developing countries throughout the North American region. The growing use of solar photovoltaics in the residential sector of the is primarily fueled by electricity cost savings, surging demand for an alternative electricity source, and the urgent need to reduce the risk of climate change. In August 2022, Enphase Energy Inc. acquired GreeNetworks, which provides Inteof things software solutions for customers in Germany. The acquisition is expected to provide installers with a full range of home energy management systems and facilitate green EV charging.
Market Segment Analysis :
The Solar Micro Inverters Market Report provides a preliminary review of the industry, definitions, classifications, and enterprise chain shape. Market analysis is furnished for the worldwide markets which include improvement tendencies, hostile view evaluation, and key regions development. Development policies and plans are discussed, and manufacturing strategies and fee systems are also analyzed.
Solar Micro Inverters Market Segmentation by Types:
Grid-Connected Solar Micro Inverter
Grid-Off Solar Micro Inverter
Solar Micro Inverters Market Segmentation by Applications:
Residential
Non-residential
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Significant Features and Key Highlights of the Solar Micro Inverters Market Reports :
– Detailed overview of The Solar Micro Inverters market.
– Changing market dynamics of the industry.
– In-depth market breakdown by Type, Application, etc.
– Historic, existing, and predictable market size in terms of extent and worth.
– Recent manufacturing trends and developments.
– Competitive landscape of The Solar Micro Inverters market.
– Approaches to significant performers and product help.
– Prospective and niche sectors/regions exhibiting promising growth.
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Detailed TOC of Solar Micro Inverters Market Research Report 2023 – 2029
Chapter 1 Solar Micro Inverters Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers and, Market data
Chapter 4 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 5 Global Production, Revenue (Value), Price Trend by Type and Region
Chapter 6 Global Market Analysis by Application
Chapter 7 Manufacturing Cost and, Gross profit Analysis
Chapter 8 Industrial Chain, Sourcing Strategy, and Downstream Buyers
Chapter 9 Marketing Strategy and, StaAnalysis, Distributors/Traders
Chapter 10 Market Driving Effect Factors Analysis
Chapter 11 Global Solar Micro Inverters Market Trends and, Forecast
Chapter 12 Research Methodology
COVID-19 and Russia-Ukraine War Influence Analysis
The readers in the section will recognize how the Solar Micro Inverters market scenario changed across the globe during the pandemic, post-pandemic, and Russia-Ukraine War. The study is done keeping in view the changes in aspects such as demand, consumption, transference, consumer behavior, supply chain management, export and import, and production. The industry experts have also highlighted the key factors that will help create opportunities for players and stabilize the overall industry in the years to come. These factors negatively affected the market during the war.”
The Solar Micro Inverters Market report gives answers to the following:
What guidelines are followed by key performers to contest this Covid-19 condition? What are the important matters drivers, opportunities, challenges, and dangers of the market? will face surviving? Which are the essential market players in the Solar Micro Inverters industry? What is the forecast compound annual growth rate (CAGR) of the global market for the duration of the forecast period (2023 – 2029)? What could be the anticipated value of the Solar Micro Inverters marketplace during the forecast period?
Customization:
The Solar Micro Inverters Market Report may well be modified to meet your detailed business essentials. Because we understand what our clients want, we provide up to 20% customization for any of our Market Intelligence Data reports at no added cost to all of our Users.
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