Solar Microinverter Market Segmentation, Growth Rate and Research Report
27 June 2019, The global solar
microinverter market is anticipated to rise at a significant CAGR
of 15.54% during the forecast period. Energy is an indispensable part of daily
life and majorly consumed in form of lighting, heating, and cooling activities.
The entire lot of activities depends upon energy that constitute an integral
part of life and it is a vital tool for country’s overall development.
Energy supply from renewable sources form an
essential part of energy distribution, particularly when there are issues
pertaining to sustainable environment. In this regard, micro inverters are of
great help. Traditional solar systems comprise a single inverter and in case of
any failure of inverter, there remains no backup of energy transfer. Therefore,
micro inverters are an alternate energy source.
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Solar micro inverter market is driven
by constant R&D activities and significant reduction in costs and expenses
of micro inverters. The solar micro inverter market also receives a great
booster due to its compact size and versatility. Robust features of solar
microinverter supplement the market growth during the forecast period.
Significant costs of installation and replacements hinder the market growth
during the forecast period.
Geographically, solar microinverter
market is segmented as North America, Latin America, Europe, Asia-Pacific,
Middle East and Africa. Asia-Pacific regions are likely to enjoy renewable
energy sources and rise in benefits of micro inverters coupled with a higher
preference for renewable energy sources.
Japan is at the forefront with
tremendous potential for micro inverter technologies. Stringent norms for
environment and consumer awareness is likely to boost the Japan market during
the forecast period. North American and European markets are expected to display
robust growth during the forecast period; thanks to government policies and
norms. Effective mergers and acquisitions among key players are likely to boost
the market growth in the forecast period. Key players in the solar
microinverter industry report are Solar Bridge Technologues, Green Ray Solar,
Enecsys and Enphase Energy.
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