Micro Inverter Market has a very rapid growth in the commercial market. Micro inverters are being used extensively with solar panels for residential uses.
Micro inverters have been used widely in developed countries to increase the use of clean energy. Micro inverters are comparatively more reliable and compact compared to the conventional inverters used earlier for converting direct current generated by a single solar module to alternating current.
Global Micro Inverter Market Key Players
Some of the key market participants in micro inverter market are-
- Darfon Electronics
- Altenergy Power System
- Altenergy Power System
- SunPower and Many More…
Micro inverters have witnessed significant growth in recent years in developed countries especially U.S. Micro inverter market is predicted to grow significantly in developed and developing countries according to research conducted by the company for the forecast period.
Micro inverter market is competitive owing to the presence of well-diversified international and regional players. Micro inverter uses have increased over time due to the increased use of solar energy.
Micro inverter is mostly used in developed countries as the initial cost of equipment in high. China, U.S., India and Japan dominate the market for the use of solar energy.
Global Micro Inverter Market Segmentation
Micro inverter market can be segmented on the basis of power capacity and peak invertor efficiency.
On the basis of power capacity, the micro inverter market can be segmented into
On the basis of type, the micro inverter market can be segmented into a
- Standalone micro inverter market
- Grid tied micro inverter market.
On the basis of application, the micro inverter market can be segmented as
On the basis of peak invertor efficiency, micro inverter market can be segmented into
- Below 95.5%
Global Micro Inverter Market Regional Overview
Micro invertor has a strong market in developed countries as they are matured markets with higher capitals and advanced technology. The micro inverter market in developing and under-developing countries are witnessed to see a strong growth rate in the forecast period as per research study conducted by the company.
Micro inverter market has a strong market in North America. U.S. along with China, India and Japan accounted for about 82% of global market share in the year 2017. Micro inverter market in Latin America and Europe are growing fast. Also, these regions have strategic plans for adopting this device for clean energy technology.
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