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Solar Microinverter And Power Optimizer Market share
research by applications and regions for 2016-2024:
The global Solar Microinverter And Power Optimizer Market share report provides
numbers for applications and regional segments of the industry covering historical as
well as forecast data for decision makers.
High preference for sustainable green energy and enhanced power harvesting
systems will push solar microinverter and power optimizer market. Elevated demand
for PV systems across commercial and residential ventures for reliable and improved
power supply is likely to contribute toward the surging growth of this industry.
Beneficial legislations such as tax concessions, subsidies, and monetary support will
open new vistas for the business. As per Global Market Insights, Inc., “Solar
Microinverter and Power Optimizer industry revenue, which collected a revenue of
USD 550 million in 2015, is forecast to surpass USD 1.4 billion by 2024.”
Standalone products and on-grid systems help in connecting solar microinverter &
power optimizers. On-grid solar microinverter and power optimizer industry share,
worth USD 120 million in 2015, will grow at an annual rate of 15% over 2016-2024.
Favorable government regulations such as tax discounts, feed-in- tariff, and financial
aids will push the business landscape.
Solar microinverter & power optimizers find extensive application across utility,
residential, and commercial sectors. Solar microinverter and power optimizer market
revenue across commercial sector is expected to cross the revenue margin of USD
300 million by 2024. High energy throughput and enhanced security measures will
contribute significantly toward the market demand. Residential applications, which
collected a revenue of USD 400 million in 2015, are forecast to observe a robust
expansion. Rise in installation of PV systems on the rooftops of residential
constructions will propel the revenue.
Considering the geographical trends, below mentioned are the regional
highlights pertaining to the industry growth:
Solar microinverter and power optimizer industry size in the U.S. is slated to grow
at a CAGR of 15% over the coming timeframe. Government schemes encouraging
large-scale deployment of solar power systems across commercial and residential
constructions will drive the development.
Solar microinverter and power optimizer market size in China, worth USD 50 million
in 2015, is anticipated to observe a striking growth over 2016-2024. High
government emphasis on the use of renewable energy to fulfill the rising power
supply needs will further propel the industry growth.
UK solar microinverter and power optimizer industry, which contributed nearly 10%
of Europe market revenue in 2015, will expand notably due to government policies
promoting to use green energy.
Chile solar microinverter and power optimizer industry, which contributed more
than 20% of Latin America solar microinverter and power optimizer market share
in 2015, is projected to witness a high surge, owing to its project in harnessing 70%
of overall energy through sustainable resources by 2050. Large availability of solar
power, low rate of interests, and political stability are few of the factors predicted
to boost the industry revenue.
Europe Solar Microinverter And Power Optimizer Market size, by application,
2013 – 2024 (MW)
Key industry participants include Tigo Energy, SolarEdge Technologies Incorporation,
Petra Systems Incorporation, Altenergy Power System Incorporation, KACO New
Energy, SolarBridge Technologies, and Sparq Systems.
Solar Microinverter and Power Optimizer Industry Insights:
Chapter 3 Solar Microinverter and Power Optimizer Industry Insights
Industry size & forecast, 2013 – 2024
Technology & innovation landscape
Industry impact forces
188.8.131.52 Increasing rooftop PV installation
184.108.40.206 Cost effective and highly reliable
220.127.116.11 Higher efficiency
Industry pitfalls & challenges
18.104.22.168 High initial cost over other alternatives
Growth potential analysis
3.10 Competitive landscape, 2015
3.10.1 Strategy dashboard
3.11 PESTEL analysis
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