Micro-Inverter Market Competitive Landscape and Revenue Forecast by 2018-2023
by Miller@21 · October 17 Fred Warner Jersey , 2018
The overall Micro-Inverter Market is estimated to grow from USD 2.44 billion in 2018 to USD 5.88 billion by 2023, at a CAGR of 19.3% from 2018 to 2023. The growth of this market is being propelled by the increasing demand for micro-inverter solutions in residential applications and growing awareness due to their inherent benefits, remote monitoring capabilities, and an upsurge in renewable energy investment, along with supportive government initiatives.
The report covers the micro-inverter market segmented by components, types Dante Pettis Jersey , communication technologies, sales channels, applications, and geographic regions. The ingle phase鈥?segment is expected to hold the largest size of the micro-inverter market, based on type, by 2023. Single-phase technology enables the system to have a compact size Mike McGlinchey Jersey , which is well suited for residential and commercial applications. In countries such as the US, Australia, and European countries, the residential segment operates on single-phase transmissions of electricity, which is also one of the major markets for micro-inverters.
The ired鈥?segment held a larger share of the overall micro-inverter market based on communication technology. Power-line communication (PLC) is one of the most commonly adopted communication technologies for transmission of module performance data between the solar panel and communication gateway device. Also, this technology is considerably more effective in home networks. Besides PLC Richard Sherman Jersey , Ethernet is a commonly used communication technology. However, the market for wireless communication technology is expected to grow at a significant CAGR during the forecast period. Wired technology, particularly PLC, have a few drawbacks such as electrical noise in AC wiring that can cause the loss of the data during transmission. Thus, micro-inverter manufacturers have adopted wireless technology, such as Wi-Fi and ZigBee Jimmy Garoppolo Jersey , over the years.
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The micro-inverter market for resdiential applications is expected to grow at the highest CAGR during the forecast period. Residential solar rooftop PV installation has witnessed significant growth over the years across the world. The rising energy cost, coupled with supportive government policies worldwide, has led to increasing adoption of energy conservation measures for controlling the increased energy expenditure in residential applications. Countries such as the US, Australia, and the Netherlands, which are among the prominent markets for residential rooftop PV installations Custom San Francisco 49ers Jerseys , have widely adopted micro-inverters over conventional inverters.
The Objectives of the Study are as follows:
To describe and forecast the micro-inverter market, in terms of value, by type, component, communication technology, sales channel Throwback San Francisco 49ers Jerseys , application To forecast the global micro-inverter market in terms of installations (GW) To describe and forecast the micro-inverter market, in terms of value, by region North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW) Authentic San Francisco 49ers Jerseys , along with their respective countries To provide detailed information regarding major factors influencing growth (drivers, restraints, opportunities, and challenges) To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market To study the complete value chain of micro-inverters To analyze opportunities in the market for stakeholders by identifying high-growth segments of the micro-inverter ecosystem To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies San Francisco 49ers Jerseys For Sale , along with detailing competitive landscape for market leaders To analyze strategic approaches such as product launches, acquisitions, collaborations, contracts, agreements, expansions and partnerships in the micro-inverter market
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