Asia Pacific micro inverter market is estimated to attain a CAGR of 8.3% through 2028 led by the large-scale renewable integration projects combined with the renovation & restoration of current electrical infrastructure, which will boom the product penetration.
SELBYVILLE, Del., Feb. 28, 2022 /PRNewswire/ -- The micro inverter market size is anticipated to record a valuation of USD 3.03 billion by 2028, according to the most recent study by Global Market Insights Inc. Stringent clean energy targets along with stable grid modernization will sway the industry landscape. Surging investments in several small- & large-scale clean energy integrations across emerging countries will accelerate the global renewable energy mix share. Moreover, rising focus toward carbon footprints along with growing electricity demand, followed by advanced energy infrastructure installation will further thrust the market growth.
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The Covid-19 outbreak has massively hindered the micro inverter market progression. The pandemic has obstructed major countries, restricting industry expansion. However, it is estimated that the industry is predicted to fuel in the coming years as the post-pandemic demand has increased in a significant way. In addition, national renewable integration targets corresponding to the Paris agreement will expand the business potential.
The three-phase micro inverter market is eaxpected to upsurge on account of the boosting pertinency toward industrial & commercial infrastructures. Beneficial government norms & regulations on the integration of solar infrastructures will propel the product deployment.
Advanced grid networks to meet the high electricity requirement in developing countries coupled with increasing rooftop installation will complement the product implementation. These devices will stimulate the business spectrum due to their low energy costs, reliability, cybersecurity & automated energy management. In October 2021, Enphase Energy, a company based in the U.S., launched a microinverter that can form microgrids during power outages and provide a power backup solution without a battery. This product line consists of five types of software-defined devices for small to large-scale applications.
Asia Pacific micro inverter market is projected to observe an 8.3% growth rate till 2028 owing to the large-scale renewable integration projects combined with the renovation & restoration of current electrical infrastructure, which will boom the product penetration. Also, increasing investments in the building construction segment in emerging countries will thrust the industry growth. For instance, in December 2021, Chinese manufacturer, Hoymile launched high-power modules with microinverters to lower costs and increase the applicability in the residential & commercial sectors.
Prominent players operating in the market are Enphase Energy, SolarEdge Technologies, Inc., Siemens, Canadian Solar, SMA Solar Technology AG, Darfon Electronics Corp., Renesola, Chilicon Power, LLC, AEconversion GmbH & Co. KG, Zhejiang Envertech Corporation Limited, Sensata Technologies, Inc., Northern Electric Power Technology Inc., Sparq Systems, Fimer Group.
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Table of Contents (ToC) of the report:
Chapter 3 Micro Inverter Market Insights
3.1 Industry ecosystem analysis
3.1.1 Vendor Matrix
3.2 Innovation & technology landscape
3.3 Regulatory landscape
3.3.1North America
3.3.2Europe
3.3.3Asia Pacific
3.3.4Middle East & Africa
3.3.5Latin America
3.4 COVID- 19 impact on the industry outlook
3.4.1 Top 10 countries impacted by COVID- 19
3.4.2 Overall view
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.2 Industry pitfalls & challenges
3.6 Growth potential analysis
3.7 Porter's Analysis
3.7.1 Bargaining power of suppliers
3.7.2 Bargaining power of buyers
3.7.3 Threat of new entrants
3.7.4 Threat of substitutes
3.8 Competitive landscape, 2021
3.8.1 Strategy dashboard
3.9 PESTEL Analysis
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