Solar Microinverter Market: Current Scenario and Forecast (2019-2025)

SAN DIEGO - Nov. 27, 2019 - PRLog -- Global Solar Micro Inverter Market was valued at US$ 977.5 Million in 2018 and is anticipated to reach US$ 5,604.6 Million by 2025 displaying explosive CAGR of 28.4% over the forecast period 2019-2025. Energy supply from renewable sources forms an essential part of energy distribution, particularly when there are issues pertaining to the sustainable environment. In this regard, microinverters are of great help. Traditional solar systems comprise a single inverter and in case of any failure of the inverter, there remains no backup of energy transfer. Therefore, microinverters are an alternative energy source. A solar micro-inverter, or simply microinverter, is a plug-and-play device used in photovoltaics, that converts the direct current generated by a single solar module to alternating current. Unlike conventional string/central inverters, a microinverter works on Module Level Power Electronics i.e. power conversion takes place at the individual module level. This mitigates the negative effect of module mismatch and improves the overall efficiency of the system. Microinverters also enable module-level monitoring, easier installation, enhanced design flexibility and better safety than conventional inverters. The solar microinverter market is driven by constant R&D activities and a significant reduction in the costs of microinverters. The solar micro inverter market also receives a great boost due to its compact size and versatility. Further, increasing the requirement of consumers, based on modularity, safety, and maximum energy harvest will continue to drive the market at a considerable pace in the coming years.

For Regional/country-wise analysis of the current and projected development in the solar microinverter market browse through @ https://univdatos.com/report/solar-microinverter-market-current-scenario-and-forecast-2019-2025

Some of the dominant players operating in the solar micro inverter industry have adopted a number of competitive strategies such as merger and acquisition, partnership and business expansion among others to expand their reach and market share. The key players contributing to the growth of the global solar micro inverters market include SMA, Darfon Electronics, ABB, APSytems, Silicon Power, energy, Enphase, NEP, SunPower, Enphase and Sparq Systems among others.

The Solar Microinverter Market report can be customized to the country level or any other market segment. Besides this, UMI understands that you may have your own business need, hence we also provide fully customized solutions to our clients.