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According to the latest report by IMARC Group, titled “Solar Microinverter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, The global solar microinverter market reached a value of US$ 230 Million in 2018. Looking forward, IMARC Group expects the market to reach a value of US$ 2.37 Billion by 2024, registering a CAGR of around 25% during 2019-2024.

A solar microinverter is a device that is installed in solar arrays for converting the direct current (DC) generated by the photovoltaic (PV) cell into the alternating current (AC). As compared to the conventional string inverters, solar microinverters offer enhanced operational efficiency and immense design flexibility. They also aid in maximizing power from solar panels through the Maximum Power Point Tracking (MPPT) technology while significantly reducing the risk of fire hazards.

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Some of the top manufacturers/ Key players in Solar Microinverter Market include:

1. ABB Ltd (ABB)

2. Enphase Energy Inc (ENPH)

3. APS Holdings Corp ( KOSDAQ: 054620 )

4. SunPower Corporation (SPWR)

5. Darfon Electronics Corp ( TPE: 8163 )

6. Delta Energy Systems ( 2308.TW )

7. Siemens AG (SIEGY)

8. ReneSola Ltd. (SOL)

9. Sungrow Power Supply Co Ltd ( SHE: 300274 )

10. Sensata Technologies Holding PLC (ST)

11. Omnik New Energy

12. Alencon Systems

13. Chilicon Power

14. Enluxsolar

Buy full report with table of contents: https://www.imarcgroup.com/solar-microinverter-market

Increasing deployment of solar microgrids is one of the key factors driving the market growth. Owing to rising environmental-consciousness, governments of several countries have undertaken initiatives for the utilization of renewable and clean energy sources for electricity generation. Furthermore, the incorporation of Module-level Power Electronics (MLPE) in solar PV systems for improved operational performance has further increased the demand for solar microinverters. Also, the development of fully-networked, software-defined intelligent microinverters with advanced grid function, along with extensive research and development (R&D), is expected to create a positive outlook for the market in the upcoming years.

Breakup by Connectivity:

1. Standalone

2. On-Grid

Breakup by Component:

1. Hardware

2. Software

Breakup by Communication Channel:

1. Wired

2. Wireless

Breakup by Type:

1. Single Phase

2. Three Phase

Breakup by Application:

1. Residential

2. Commercial

3. Others

Breakup by Region:

1. North America

2. Europe

3. Asia Pacific

4. Middle East and Africa

5. Latin America

Key highlights of the report:

1. Market Performance

2. Market Outlook

3. Porter’s Five Forces Analysis

4. Market Drivers and Success Factors

5. SWOT Analysis

6. Value Chain

7. Competitive Structure

8. Profiles of Key Players

Browse More Reports by IMARC Group in Electronics and Semiconductors:

• Europe LED Lighting Market Report and Forecast 2019-2024
• East Africa LED Lighting Market Report and Forecast 2019-2024

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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