Table of Content

1    INTRODUCTION    25
1.1    STUDY OBJECTIVES    25
1.2    DEFINITION AND SCOPE    25
1.2.1    INCLUSIONS AND EXCLUSIONS    26
1.3    MARKET SEGMENTATION    26
1.3.1    GEOGRAPHIC SCOPE    27
1.3.2    YEARS CONSIDERED    27
1.4    CURRENCY    27
1.5    LIMITATIONS    28
1.6    STAKEHOLDERS    28
1.7    SUMMARY OF CHANGES    28
2    RESEARCH METHODOLOGY    30
2.1    RESEARCH DATA    30
FIGURE 1    RESEARCH DESIGN    30
2.2    SECONDARY AND PRIMARY RESEARCH    32
2.2.1    SECONDARY DATA    32
2.2.1.1    Secondary sources    33
2.2.2    PRIMARY DATA    33
2.2.2.1    Primary sources    34
2.2.2.2    Key industry insights    34
2.2.2.3    Breakdown of primaries    35
2.3    MARKET SIZE ESTIMATION    35
2.3.1    BOTTOM-UP APPROACH    35
FIGURE 2    BOTTOM-UP APPROACH    36
2.3.2    TOP-DOWN APPROACH    36
FIGURE 3    TOP-DOWN APPROACH    37
FIGURE 4    MICRO-INVERTER MARKET: MARKET SIZE ESTIMATION, BY DEMAND-SIDE APPROACH    37
2.4    DATA TRIANGULATION    38
FIGURE 5    DATA TRIANGULATION    38
2.5    RESEARCH ASSUMPTIONS    39
3    EXECUTIVE SUMMARY    40
FIGURE 6    MICRO-INVERTER MARKET, 2016–2025    40
TABLE 1    MICRO-INVERTER MARKET, IN TERMS OF VALUE AND VOLUME, 2016–2019    40
TABLE 2    MICRO-INVERTER MARKET, IN TERMS OF VALUE AND VOLUME, 2020–2025    41
FIGURE 7    MICRO-INVERTER MARKET: PRE- AND POST-COVID-19 SCENARIOS    41

3.1    PRE-COVID-19 SCENARIO    42
TABLE 3    MICRO-INVERTER MARKET, PRE-COVID-19 SCENARIO, 2020–2025    42
3.2    REALISTIC SCENARIO    42
TABLE 4    MICRO-INVERTER MARKET, POST-COVID-19 REALISTIC SCENARIO,
2020–2025    42
3.3    PESSIMISTIC SCENARIO    42
TABLE 5    MICRO-INVERTER MARKET, POST-COVID-19 PESSIMISTIC SCENARIO,
2020–2025    42
3.4    OPTIMISTIC SCENARIO    43
TABLE 6    MICRO-INVERTER MARKET, POST-COVID-19 OPTIMISTIC SCENARIO,
2020–2025    43
FIGURE 8    GRID-TIED MICRO-INVERTERS TO HOLD LARGER MARKET SHARE IN 2020    43
FIGURE 9    WIRED COMMUNICATION TECHNOLOGY TO CAPTURE LARGER SIZE OF MICRO-INVERTER MARKET IN 2025    44
FIGURE 10    RESIDENTIAL APPLICATIONS TO SIGNIFICANTLY CONTRIBUTE TO MARKET GROWTH DURING FORECAST PERIOD    45
FIGURE 11    NORTH AMERICA EXPECTED TO HOLD LARGEST SHARE OF MICRO-INVERTER MARKET IN 2020    46
4    PREMIUM INSIGHTS    47
4.1    APAC TO PROVIDE LUCRATIVE OPPORTUNITIES FOR MICRO-INVERTER MARKET IN COMING YEARS    47
FIGURE 12    ATTRACTIVE GROWTH OPPORTUNITIES IN MICRO-INVERTER MARKET    47
4.2    MICRO-INVERTER MARKET, BY TYPE (2017–2025)    47
FIGURE 13    SINGLE-PHASE MICRO-INVERTER MARKET TO GROW AT HIGHER CAGR DURING FORECAST PERIOD    47
4.3    MICRO-INVERTER MARKET, BY POWER RATING    48
FIGURE 14    MICRO-INVERTERS WITH POWER RATING BETWEEN 250 W AND 500 W TO HOLD LARGEST MARKET SHARE IN 2020    48
4.4    MICRO-INVERTER MARKET, BY SALES CHANNEL    48
FIGURE 15    INDIRECT SALES CHANNELS TO CAPTURE LARGER SHARE OF MICRO-INVERTER MARKET IN 2020    48
4.5    MICRO-INVERTER MARKET, BY REGION    49
FIGURE 16    INDIA TO WITNESS HIGHEST CAGR IN MICRO-INVERTER MARKET DURING 2020–2025    49
5    MARKET OVERVIEW    50
5.1    INTRODUCTION    50
5.2    MARKET DYNAMICS    50
FIGURE 17    MICRO-INVERTER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES,
AND CHALLENGES    50
5.2.1    DRIVERS    51
5.2.1.1    Technical advantages of micro-inverters over conventional solar inverters    51
FIGURE 18    GLOBAL SHIPMENT OF DIFFERENT TYPES OF SOLAR INVERTERS, 2019    51
5.2.1.2    Significant capital inflows in renewable energy sector    52
FIGURE 19    GLOBAL INVESTMENTS IN RENEWABLE ENERGY SOURCES,
2018 (USD BILLION)    52
5.2.1.3    High demand for micro-inverters due to their remote monitoring capabilities    53
5.2.1.4    Increasing number of residential solar rooftop installations    53
FIGURE 20    MICRO-INVERTER MARKET: IMPACT ANALYSIS OF DRIVERS    54
5.2.2    RESTRAINTS    54
5.2.2.1    Decreased demand for micro-inverters with reduced electricity requirement from commercial and industrial end users due to COVID-19 outbreak    54
5.2.2.2    Higher installation and maintenance costs of micro-inverters    55
FIGURE 21    MICRO-INVERTER MARKET: IMPACT ANALYSIS OF RESTRAINTS    55
5.2.3    OPPORTUNITIES    55
5.2.3.1    Increase in number of solar PV installations owing to incentive schemes by governments of different countries    55
5.2.3.2    Technological innovations in inverters to improve their capabilities    56
FIGURE 22    MICRO-INVERTER MARKET: IMPACT ANALYSIS OF OPPORTUNITIES    56
5.2.4    CHALLENGES    57
5.2.4.1    Pricing pressure on manufacturers of micro-inverters    57
5.2.4.2    Safety risks associated with high DC voltages    57
FIGURE 23    MICRO-INVERTER MARKET: IMPACT ANALYSIS OF CHALLENGES    57
5.3    VALUE CHAIN ANALYSIS    58
FIGURE 24    MICRO-INVERTER MARKET: MAJOR VALUE ADDED BY MANUFACTURERS AND COMPONENT PROVIDERS    58
5.4    ECOSYSTEM    59
FIGURE 25    MICRO-INVERTER MARKET ECOSYSTEM    59
5.5    TECHNOLOGY ANALYSIS    59
5.6    CASE STUDY ANALYSIS    60
5.6.1    ENPHASE INSTALLED 7X M250 MICRO-INVERTERS AND 1X ENVOY-R FOR RESIDENTIAL END USERS AS ENVIRONMENTALLY FRIENDLY SOLAR INVESTMENT    60
5.6.2    ENPHASE INSTALLED M215 MICRO-INVERTERS FOR FAT WEST MEATS (US) COMMERCIAL PROJECT, PROVING THEM BETTER THAN DC OPTIMIZERS    61
5.7    PATENT ANALYSIS    61
TABLE 7    PATENTS IN MICRO-INVERTER MARKET    61
5.8    PRICING ANALYSIS    61
5.9    MARKET REGULATIONS    62
6    MICRO-INVERTER MARKET, BY OFFERING    63
6.1    INTRODUCTION    64
FIGURE 26    MICRO-INVERTER MARKET, BY OFFERING    64
FIGURE 27    SOFTWARE & SERVICES SEGMENT TO EXHIBIT HIGHER CAGR IN MICRO-INVERTER MARKET, BY OFFERING, FROM 2020 TO 2025    64
TABLE 8    MICRO-INVERTER MARKET, BY OFFERING, 2016–2019 (USD MILLION)    65
TABLE 9    MICRO-INVERTER MARKET, BY OFFERING, 2020–2025 (USD MILLION)    65
6.2    HARDWARE    66
6.2.1    HARDWARE COMPONENTS ARE CORE ELEMENTS OF MICRO-INVERTER SYSTEMS    66
6.3    SOFTWARE & SERVICES    66
6.3.1    SOFTWARE    66
6.3.1.1    System monitoring and data analysis are critical functions of software products    66
6.3.2    SERVICES    66
6.3.2.1    Installation and maintenance services are crucial for micro-inverter systems    66
7    MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY    67
7.1    INTRODUCTION    68
FIGURE 28    MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY    68
FIGURE 29    WIRELESS COMMUNICATION TECHNOLOGY TO EXHIBIT HIGHER CAGR IN MICRO-INVERTER MARKET FROM 2020 TO 2025    68
TABLE 10    MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY,
2016–2019 (USD MILLION)    69
TABLE 11    MICRO-INVERTER MARKET, BY COMMUNICATION TECHNOLOGY,
2020–2025 (USD MILLION)    69
7.2    WIRED    70
7.2.1    WIRED COMMUNICATION TECHNOLOGY IS PREFERRED FOR MICRO-INVERTERS    70
TABLE 12    MICRO-INVERTER MARKET FOR WIRED COMMUNICATION TECHNOLOGY,
BY APPLICATION, 2016–2019 (USD MILLION)    70
TABLE 13    MICRO-INVERTER MARKET FOR WIRED COMMUNICATION TECHNOLOGY,
BY APPLICATION, 2020–2025 (USD MILLION)    70
7.3    WIRELESS    71
7.3.1    WIRELESS COMMUNICATION TECHNOLOGY HAS HIGHER GROWTH PROSPECTS IN NEAR FUTURE    71
TABLE 14    MICRO-INVERTER MARKET FOR WIRELESS COMMUNICATION TECHNOLOGY, BY APPLICATION, 2016–2019 (USD MILLION)    71
FIGURE 30    RESIDENTIAL APPLICATION TO CONTINUE TO DOMINATE MARKET FOR WIRELESS COMMUNICATION TECHNOLOGY-BASED MICRO-INVERTERS DURING FORECAST PERIOD    71
TABLE 15    MICRO-INVERTER MARKET FOR WIRELESS COMMUNICATION TECHNOLOGY, BY APPLICATION, 2020–2025 (USD MILLION)    72
8    MICRO-INVERTER MARKET, BY TYPE    73
8.1    INTRODUCTION    74
FIGURE 31    MICRO-INVERTER MARKET, BY TYPE    74
FIGURE 32    MARKET FOR SINGLE-PHASE MICRO-INVERTERS TO GROW AT HIGHER CAGR FROM 2020 TO 2025    74
TABLE 16    MICRO-INVERTER MARKET, BY TYPE, 2016–2019 (USD MILLION)    75
TABLE 17    MICRO-INVERTER MARKET, BY TYPE, 2020–2025 (USD MILLION)    75

8.2    SINGLE PHASE    75
8.2.1    SINGLE-PHASE INVERTERS PRIMARILY DEPLOYED IN RESIDENTIAL APPLICATIONS    75
TABLE 18    SINGLE-PHASE MICRO-INVERTER MARKET, BY APPLICATION,
2016–2019 (USD MILLION)    76
TABLE 19    SINGLE-PHASE MICRO-INVERTER MARKET, BY APPLICATION,
2020–2025 (USD MILLION)    76
8.3    THREE PHASE    76
8.3.1    PV PLANTS AND COMMERCIAL END USERS ESSENTIALLY EMPLOY THREE-PHASE MICRO-INVERTERS    76
TABLE 20    THREE-PHASE MICRO-INVERTER MARKET, BY APPLICATION,
2016–2019 (USD MILLION)    77
TABLE 21    THREE-PHASE MICRO-INVERTER MARKET, BY APPLICATION,
2020–2025 (USD MILLION)    77
9    MICRO-INVERTER MARKET, BY POWER RATING    78
9.1    INTRODUCTION    79
FIGURE 33    MICRO-INVERTER MARKET, BY POWER RATING    79
FIGURE 34    BETWEEN 250 AND 500 W SEGMENT TO EXHIBIT HIGHEST CAGR FROM
2020 TO 2025    79
TABLE 22    MICRO-INVERTER MARKET, BY POWER RATING, 2016–2019 (USD MILLION)    80
TABLE 23    MICRO-INVERTER MARKET, BY POWER RATING, 2020–2025 (USD MILLION)    80
9.2    BELOW 250 W    80
9.2.1    BELOW 250-WATT MICRO-INVERTERS ARE IDEAL FOR SOLAR PANELS INSTALLED IN RESIDENTIAL APPLICATIONS    80
9.3    BETWEEN 250 AND 500 W    81
9.3.1    MICRO INVERTERS WITH POWER RATING RANGING FROM 250 TO 500 WATTS WOULD LEAD MARKET DURING FORECAST PERIOD    81
9.4    ABOVE 500 W    81
9.4.1    MICRO INVERTERS WITH POWER RATING OF ABOVE 500 WATTS ARE ADOPTED TO FULFIL ENERGY GENERATION REQUIREMENTS OF LARGE
PV SYSTEMS    81
10    MICRO-INVERTER MARKET, BY CONNECTION TYPE    82
10.1    INTRODUCTION    83
FIGURE 35    MICRO-INVERTER MARKET, BY CONNECTION TYPE    83
FIGURE 36    GRID-TIED MICRO-INVERTERS WOULD DOMINATE MARKET DURING FORECAST PERIOD    83
TABLE 24    MICRO-INVERTER MARKET, BY CONNECTION TYPE,
2016–2019 (USD MILLION)    83
TABLE 25    MICRO-INVERTER MARKET, BY CONNECTION TYPE,
2020–2025 (USD MILLION)    84
10.2    STAND-ALONE    84
10.2.1    STAND-ALONE SOLAR SYSTEMS ARE MORE ECONOMICAL    84
10.3    GRID-TIED    84
10.3.1    GRID-TIED MICRO-INVERTERS ARE LIKELY TO DOMINATE MARKET IN COMING YEARS    84
11    MICRO-INVERTER MARKET, BY SALES CHANNEL    85
11.1    INTRODUCTION    86
FIGURE 37    MICRO-INVERTER MARKET, BY SALES CHANNEL    86
FIGURE 38    INDIRECT SALES CHANNELS TO GROW AT HIGHER CAGR FROM
2020 TO 2025    86
TABLE 26    MICRO-INVERTER MARKET, BY SALES CHANNEL, 2016–2019 (USD MILLION)    87
TABLE 27    MICRO-INVERTER MARKET, BY SALES CHANNEL, 2020–2025 (USD MILLION)    87
11.2    DIRECT    87
11.2.1    DIRECT SALES CHANNELS ARE PREFERRED BY COMPANIES HAVING LIMITED DISTRIBUTION NETWORKS    87
TABLE 28    MICRO-INVERTER MARKET FOR DIRECT SALES CHANNELS, BY APPLICATION, 2016–2019 (USD MILLION)    87
TABLE 29    MICRO-INVERTER MARKET FOR DIRECT SALES CHANNELS, BY APPLICATION, 2020–2025 (USD MILLION)    88
11.3    INDIRECT    88
11.3.1    THIRD-PARTY PROVIDERS ARE PREFERRED FOR PROCUREMENT OF MICRO-INVERTERS    88
TABLE 30    MICRO-INVERTER MARKET FOR INDIRECT SALES CHANNELS,
BY APPLICATION, 2016–2019 (USD MILLION)    88
TABLE 31    MICRO-INVERTER MARKET FOR INDIRECT SALES CHANNELS,
BY APPLICATION, 2020–2025 (USD MILLION)    89
12    MICRO-INVERTER MARKET, BY APPLICATION    90
12.1    INTRODUCTION    91
FIGURE 39    MICRO-INVERTER MARKET, BY APPLICATION    91
FIGURE 40    RESIDENTIAL APPLICATION TO DOMINATE MICRO-INVERTER MARKET DURING FORECAST PERIOD    91
TABLE 32    MICRO-INVERTER MARKET, BY APPLICATION, 2016–2019 (USD MILLION)    92
TABLE 33    MICRO-INVERTER MARKET, BY APPLICATION, 2020–2025 (USD MILLION)    92
12.2    RESIDENTIAL    93
12.2.1    MICRO-INVERTERS PRIMARILY DEPLOYED FOR RESIDENTIAL APPLICATIONS    93
TABLE 34    MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS,
BY TYPE, 2016–2019 (USD MILLION)    93
TABLE 35    MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS,
BY TYPE, 2020–2025 (USD MILLION)    93
TABLE 36    MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS,
BY CONNECTION TYPE, 2016–2019 (USD MILLION)    94
TABLE 37    MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS,
BY CONNECTION TYPE, 2020–2025 (USD MILLION)    94
TABLE 38    MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS,
BY POWER RATING, 2016–2019 (USD MILLION)    94
TABLE 39    MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS,
BY POWER RATING, 2020–2025 (USD MILLION)    94
TABLE 40    MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS,
BY COMMUNICATION TECHNOLOGY, 2016–2019 (USD MILLION)    95
TABLE 41    MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS,
BY COMMUNICATION TECHNOLOGY, 2020–2025 (USD MILLION)    95
TABLE 42    MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS,
BY SALES CHANNEL, 2016–2019 (USD MILLION)    95
TABLE 43    MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS,
BY SALES CHANNEL, 2020–2025 (USD MILLION)    95
FIGURE 41    NORTH AMERICA TO DOMINATE MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS DURING FORECAST PERIOD    96
TABLE 44    MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS, BY REGION, 2016–2019 (USD MILLION)    96
TABLE 45    MICRO-INVERTER MARKET FOR RESIDENTIAL APPLICATIONS, BY REGION, 2020–2025 (USD MILLION)    97
TABLE 46    MICRO-INVERTER MARKET IN NORTH AMERICA FOR RESIDENTIAL APPLICATIONS, BY COUNTRY, 2016–2019 (USD MILLION)    97
TABLE 47    MICRO-INVERTER MARKET IN NORTH AMERICA FOR RESIDENTIAL APPLICATIONS, BY COUNTRY, 2020–2025 (USD MILLION)    97
TABLE 48    MICRO-INVERTER MARKET IN EUROPE FOR RESIDENTIAL APPLICATIONS,
BY COUNTRY, 2016–2019 (USD MILLION)    98
TABLE 49    MICRO-INVERTER MARKET IN EUROPE FOR RESIDENTIAL APPLICATIONS,
BY COUNTRY, 2020–2025 (USD MILLION)    98
TABLE 50    MICRO-INVERTER MARKET IN APAC FOR RESIDENTIAL APPLICATIONS,
BY COUNTRY, 2016–2019 (USD MILLION)    98
TABLE 51    MICRO-INVERTER MARKET IN APAC FOR RESIDENTIAL APPLICATIONS,
BY COUNTRY, 2020–2025 (USD MILLION)    99
TABLE 52    MICRO-INVERTER MARKET IN ROW FOR RESIDENTIAL APPLICATIONS,
BY REGION, 2016–2019 (USD MILLION)    99
TABLE 53    MICRO-INVERTER MARKET IN ROW FOR RESIDENTIAL APPLICATIONS,
BY REGION, 2020–2025 (USD MILLION)    99
12.3    COMMERCIAL    100
12.3.1    COVID-19 TO ADVERSELY IMPACT COMMERCIAL SECTOR USING MICRO-INVERTERS    100
FIGURE 42    SINGLE-PHASE MICRO-INVERTERS TO DOMINATE MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS DURING FORECAST PERIOD    100
TABLE 54    MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS,
BY TYPE, 2016–2019 (USD MILLION)    100
TABLE 55    MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS,
BY TYPE, 2020–2025 (USD MILLION)    101
TABLE 56    MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS,
BY CONNECTION TYPE, 2016–2019 (USD MILLION)    101
TABLE 57    MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS,
BY CONNECTION TYPE, 2020–2025 (USD MILLION)    101
TABLE 58    MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS,
BY POWER RATING, 2016–2019 (USD MILLION)    101
TABLE 59    MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS,
BY POWER RATING, 2020–2025 (USD MILLION)    102
TABLE 60    MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS,
BY COMMUNICATION TECHNOLOGY, 2016–2019 (USD MILLION)    102
TABLE 61    MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS,
BY COMMUNICATION TECHNOLOGY, 2020–2025 (USD MILLION)    102
TABLE 62    MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS,
BY SALES CHANNEL, 2016–2019 (USD MILLION)    102
TABLE 63    MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS,
BY SALES CHANNEL, 2020–2025 (USD MILLION)    103
TABLE 64    MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS,
BY REGION, 2016–2019 (USD MILLION)    103
TABLE 65    MICRO-INVERTER MARKET FOR COMMERCIAL APPLICATIONS,
BY REGION, 2020–2025 (USD MILLION)    103
TABLE 66    MICRO-INVERTER MARKET IN NORTH AMERICA FOR COMMERCIAL APPLICATIONS, BY COUNTRY, 2016–2019 (USD MILLION)    104
TABLE 67    MICRO-INVERTER MARKET IN NORTH AMERICA FOR COMMERCIAL APPLICATIONS, BY COUNTRY, 2020–2025 (USD MILLION)    104
TABLE 68    MICRO-INVERTER MARKET IN EUROPE FOR COMMERCIAL APPLICATIONS,
BY COUNTRY, 2016–2019 (USD MILLION)    104
TABLE 69    MICRO-INVERTER MARKET IN EUROPE FOR COMMERCIAL APPLICATIONS,
BY COUNTRY, 2020–2025 (USD MILLION)    105
TABLE 70    MICRO-INVERTER MARKET IN APAC FOR COMMERCIAL APPLICATIONS,
BY COUNTRY, 2016–2019 (USD MILLION)    105
TABLE 71    MICRO-INVERTER MARKET IN APAC FOR COMMERCIAL APPLICATIONS,
BY COUNTRY, 2020–2025 (USD MILLION)    105
TABLE 72    MICRO-INVERTER MARKET IN ROW FOR COMMERCIAL APPLICATIONS,
BY REGION, 2016–2019 (USD MILLION)    106
TABLE 73    MICRO-INVERTER MARKET IN ROW FOR COMMERCIAL APPLICATIONS,
BY REGION, 2020–2025 (USD MILLION)    106
12.4    PV POWER PLANT    106
12.4.1    INCREASING NUMBER OF GLOBAL PV INSTALLATIONS TO PROPEL MARKET GROWTH    106
FIGURE 43    GRID-TIED SYSTEMS TO HOLD LARGER SIZE OF MICRO-INVERTER MARKET FOR PV POWER PLANTS DURING FORECAST PERIOD    107
TABLE 74    MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS,
BY TYPE, 2016–2019 (USD MILLION)    107
TABLE 75    MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS,
BY TYPE, 2020–2025 (USD MILLION)    107
TABLE 76    MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS,
BY CONNECTION TYPE, 2016–2019 (USD MILLION)    108
TABLE 77    MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS,
BY CONNECTION TYPE, 2020–2025 (USD MILLION)    108
TABLE 78    MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS,
BY POWER RATING, 2016–2019 (USD MILLION)    108
TABLE 79    MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS,
BY POWER RATING, 2020–2025 (USD MILLION)    109
TABLE 80    MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS,
BY COMMUNICATION TECHNOLOGY, 2016–2019 (USD MILLION)    109
TABLE 81    MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS,
BY COMMUNICATION TECHNOLOGY, 2020–2025 (USD MILLION)    109
TABLE 82    MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS,
BY SALES CHANNEL, 2016–2019 (USD MILLION)    109
TABLE 83    MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS,
BY SALES CHANNEL, 2020–2025 (USD MILLION)    110
TABLE 84    MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS,
BY REGION, 2016–2019 (USD MILLION)    110
TABLE 85    MICRO-INVERTER MARKET FOR PV POWER PLANT APPLICATIONS,
BY REGION, 2020–2025 (USD MILLION)    110
TABLE 86    MICRO-INVERTER MARKET IN NORTH AMERICA FOR PV POWER PLANT APPLICATIONS, BY COUNTRY, 2016–2019 (USD MILLION)    111
TABLE 87    MICRO-INVERTER MARKET IN NORTH AMERICA FOR PV POWER PLANT APPLICATIONS, BY COUNTRY, 2020–2025 (USD MILLION)    111
TABLE 88    MICRO-INVERTER MARKET IN EUROPE FOR PV POWER PLANT APPLICATIONS, BY COUNTRY, 2016–2019 (USD MILLION)    111
TABLE 89    MICRO-INVERTER MARKET IN EUROPE FOR PV POWER PLANT APPLICATIONS, BY COUNTRY, 2020–2025 (USD MILLION)    112
TABLE 90    MICRO-INVERTER MARKET IN APAC FOR PV POWER PLANT APPLICATIONS,
BY COUNTRY, 2016–2019 (USD MILLION)    112
TABLE 91    MICRO-INVERTER MARKET IN APAC FOR PV POWER PLANT APPLICATIONS,
BY COUNTRY, 2020–2025 (USD MILLION)    112
TABLE 92    MICRO-INVERTER MARKET IN ROW FOR PV POWER PLANT APPLICATIONS,
BY REGION, 2016–2019 (USD MILLION)    113
TABLE 93    MICRO-INVERTER MARKET IN ROW FOR PV POWER PLANT APPLICATIONS,
BY REGION, 2020–2025 (USD MILLION)    113
13    GEOGRAPHIC ANALYSIS    114
13.1    INTRODUCTION    115
FIGURE 44    GEOGRAPHIC SNAPSHOT: MICRO-INVERTER MARKET IN INDIA TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD    115
TABLE 94    MICRO-INVERTER MARKET, BY REGION, 2016–2019 (USD MILLION)    116
TABLE 95    MICRO-INVERTER MARKET, BY REGION, 2020–2025 (USD MILLION)    116
13.2    NORTH AMERICA    117
FIGURE 45    NORTH AMERICA: SNAPSHOT OF MICRO-INVERTER MARKET    117
FIGURE 46    MICRO-INVERTER MARKET: PRE- AND POST-COVID-19 SCENARIOS IN
NORTH AMERICA    118
TABLE 96    MICRO-INVERTER MARKET: PRE- AND POST-COVID-19 SCENARIOS IN
NORTH AMERICA, 2016–2025 (USD MILLION)    118
TABLE 97    MICRO-INVERTER MARKET IN NORTH AMERICA, BY COUNTRY,
2016–2019 (USD MILLION)    119
TABLE 98    MICRO-INVERTER MARKET IN NORTH AMERICA, BY COUNTRY,
2020–2025 (USD MILLION)    119
TABLE 99    MICRO-INVERTER MARKET IN NORTH AMERICA, BY APPLICATION,
2016–2019 (USD MILLION)    119
TABLE 100    MICRO-INVERTER MARKET IN NORTH AMERICA, BY APPLICATION,
2020–2025 (USD MILLION)    120
13.2.1    US    120
13.2.1.1    Market in US to be adversely impacted by COVID-19    120
TABLE 101    MICRO-INVERTER MARKET IN US, BY APPLICATION,
2016–2019 (USD MILLION)    120
TABLE 102    MICRO-INVERTER MARKET IN US, BY APPLICATION,
2020–2025 (USD MILLION)    121

13.2.2    CANADA    121
13.2.2.1    Micro-FiT program to support PV installations would contribute to market growth in Canada    121
TABLE 103    MICRO-INVERTER MARKET IN CANADA, BY APPLICATION,
2016–2019 (USD MILLION)    121
TABLE 104    MICRO-INVERTER MARKET IN CANADA, BY APPLICATION,
2020–2025 (USD MILLION)    122
13.2.3    MEXICO    122
13.2.3.1    Clean energy reforms to fuel market growth in Mexico    122
TABLE 105    MICRO-INVERTER MARKET IN MEXICO, BY APPLICATION,
2016–2019 (USD MILLION)    122
TABLE 106    MICRO-INVERTER MARKET IN MEXICO, BY APPLICATION,
2020–2025 (USD MILLION)    123
13.3    EUROPE    123
FIGURE 47    EUROPE: SNAPSHOT OF MICRO-INVERTER MARKET    124
TABLE 107    MICRO-INVERTER MARKET IN EUROPE, BY COUNTRY,
2016–2019 (USD MILLION)    125
TABLE 108    MICRO-INVERTER MARKET IN EUROPE, BY COUNTRY,
2020–2025 (USD MILLION)    125
TABLE 109    MICRO-INVERTER MARKET IN EUROPE, BY APPLICATION,
2016–2019 (USD MILLION)    125
TABLE 110    MICRO-INVERTER MARKET IN EUROPE, BY APPLICATION,
2020–2025 (USD MILLION)    126
13.3.1    GERMANY    126
13.3.1.1    Germany to emerge as largest micro-inverter market in Europe during forecast period    126
TABLE 111    MICRO-INVERTER MARKET IN GERMANY, BY APPLICATION,
2016–2019 (USD MILLION)    126
TABLE 112    MICRO-INVERTER MARKET IN GERMANY, BY APPLICATION,
2020–2025 (USD MILLION)    127
13.3.2    UK    127
13.3.2.1    Encouragement by UK government to promote use of new energy technologies to fuel market growth    127
TABLE 113    MICRO-INVERTER MARKET IN UK, BY APPLICATION,
2016–2019 (USD MILLION)    127
TABLE 114    MICRO-INVERTER MARKET IN UK, BY APPLICATION,
2020–2025 (USD MILLION)    128
13.3.3    FRANCE    128
13.3.3.1    Increased adoption of automation technologies in various industries to fuel growth of market in France    128
TABLE 115    MICRO-INVERTER MARKET IN FRANCE, BY APPLICATION,
2016–2019 (USD MILLION)    128
TABLE 116    MICRO-INVERTER MARKET IN FRANCE, BY APPLICATION,
2020–2025 (USD MILLION)    129
13.3.4    NETHERLANDS    129
13.3.4.1    Residential and commercial applications contribute significantly to market growth in Netherlands    129
TABLE 117    MICRO-INVERTER MARKET IN NETHERLANDS, BY APPLICATION,
2016–2019 (USD MILLION)    129
TABLE 118    MICRO-INVERTER MARKET IN NETHERLANDS, BY APPLICATION,
2020–2025 (USD MILLION)    130
13.3.5    REST OF EUROPE    130
TABLE 119    MICRO-INVERTER MARKET IN REST OF EUROPE, BY APPLICATION,
2016–2019 (USD MILLION)    130
TABLE 120    MICRO-INVERTER MARKET IN REST OF EUROPE, BY APPLICATION,
2020–2025 (USD MILLION)    131
13.4    APAC    131
FIGURE 48    APAC: SNAPSHOT OF MICRO-INVERTER MARKET    132
FIGURE 49    MICRO-INVERTER MARKET: PRE- AND POST-COVID-19 SCENARIOS IN APAC    132
TABLE 121    MICRO-INVERTER MARKET: PRE- AND POST-COVID-19 SCENARIOS IN APAC, 2020–2025 (USD MILLION)    133
TABLE 122    MICRO-INVERTER MARKET IN APAC, BY COUNTRY,
2016–2019 (USD MILLION)    133
TABLE 123    MICRO-INVERTER MARKET IN APAC, BY COUNTRY,
2020–2025 (USD MILLION)    133
TABLE 124    MICRO-INVERTER MARKET IN APAC, BY APPLICATION,
2016–2019 (USD MILLION)    134
TABLE 125    MICRO-INVERTER MARKET IN APAC, BY APPLICATION,
2020–2025 (USD MILLION)    134
13.4.1    CHINA    134
13.4.1.1    Market growth in china anticipated to be negatively impacted
by COVID-19 outbreak    134
TABLE 126    MICRO-INVERTER MARKET IN CHINA, BY APPLICATION,
2016–2019 (USD MILLION)    135
TABLE 127    MICRO-INVERTER MARKET IN CHINA, BY APPLICATION,
2020–2025 (USD MILLION)    135
13.4.2    JAPAN    135
13.4.2.1    Establishment of floating power plants in Japan to support micro-inverter market growth    135
TABLE 128    MICRO-INVERTER MARKET IN JAPAN, BY APPLICATION,
2016–2019 (USD MILLION)    136
TABLE 129    MICRO-INVERTER MARKET IN JAPAN, BY APPLICATION,
2020–2025 (USD MILLION)    136
13.4.3    INDIA    136
13.4.3.1    Growth of market in India expected to be hampered by rapid spread of coronavirus    136
TABLE 130    MICRO-INVERTER MARKET IN INDIA, BY APPLICATION,
2016–2019 (USD MILLION)    137
TABLE 131    MICRO-INVERTER MARKET IN INDIA, BY APPLICATION,
2020–2025 (USD MILLION)    137
13.4.4    AUSTRALIA    137
13.4.4.1    Heightened demand from residential applications to support growth of micro-inverter market in Australia    137
TABLE 132    MICRO-INVERTER MARKET IN AUSTRALIA, BY APPLICATION,
2016–2019 (USD MILLION)    138
TABLE 133    MICRO-INVERTER MARKET IN AUSTRALIA, BY APPLICATION,
2020–2025 (USD MILLION)    138
13.4.5    REST OF APAC    138
TABLE 134    MICRO-INVERTER MARKET IN REST OF APAC, BY APPLICATION,
2016–2019 (USD MILLION)    138
TABLE 135    MICRO-INVERTER MARKET IN REST OF APAC, BY APPLICATION,
2020–2025 (USD MILLION)    139
13.5    ROW    139
TABLE 136    MICRO-INVERTER MARKET IN ROW, BY REGION, 2016–2019 (USD MILLION)    139
TABLE 137    MICRO-INVERTER MARKET IN ROW, BY REGION, 2020–2025 (USD MILLION)    139
TABLE 138    MICRO-INVERTER MARKET IN ROW, BY APPLICATION,
2016–2019 (USD MILLION)    140
TABLE 139    MICRO-INVERTER MARKET IN ROW, BY APPLICATION,
2020–2025 (USD MILLION)    140
13.5.1    MIDDLE EAST & AFRICA    140
13.5.1.1    Rise in number of solar PV projects to unfold new growth opportunities in Middle Easter & African market    140
TABLE 140    MICRO-INVERTER MARKET IN MIDDLE EAST & AFRICA, BY APPLICATION, 2016–2019 (USD MILLION)    141
TABLE 141    MICRO-INVERTER MARKET IN MIDDLE EAST & AFRICA, BY APPLICATION, 2020–2025 (USD MILLION)    141
13.5.2    SOUTH AMERICA    141
13.5.2.1    Increased solar power generation in Brazil and Argentina to significantly contribute to market growth in South America    141
TABLE 142    MICRO-INVERTER MARKET IN SOUTH AMERICA, BY APPLICATION,
2016–2019 (USD MILLION)    142
TABLE 143    MICRO-INVERTER MARKET IN SOUTH AMERICA, BY APPLICATION,
2020–20125 (USD MILLION)    142
14    COMPETITIVE LANDSCAPE    143
14.1    OVERVIEW    143
14.2    MARKET SHARE ANALYSIS, 2019    143
FIGURE 50    MICRO-INVERTER MARKET: MARKET SHARE ANALYSIS (2019)    143
14.3    COMPETITIVE SITUATIONS AND TRENDS    145
14.3.1    PRODUCT DEVELOPMENTS    145
14.3.2    AGREEMENTS, COLLABORATIONS, AND PARTNERSHIPS    145
15    COMPANY EVALUATION MATRIX AND COMPANY PROFILES    146
15.1    OVERVIEW    146
15.2    COMPANY EVALUATION MATRIX, 2019    146
15.2.1    STAR    146
15.2.2    PERVASIVE    146
15.2.3    EMERGING LEADER    146
15.2.4    PARTICIPANT    146
FIGURE 51    MICRO-INVERTER MARKET (GLOBAL) COMPANY EVALUATION MATRIX, 2019    147

15.3    KEY PLAYERS    148
(Business overview, Products offered, Recent developments, SWOT analysis, MNM view)*
15.3.1    ENPHASE ENERGY    148
FIGURE 52    ENPHASE ENERGY: COMPANY SNAPSHOT    148
15.3.2    DARFON ELECTRONICS    151
FIGURE 53    DARFON ELECTRONICS: COMPANY SNAPSHOT    151
15.3.3    ALTENERGY POWER SYSTEM    153
15.3.4    RENESOLA    155
FIGURE 54    RENESOLA: COMPANY SNAPSHOT    155
15.3.5    CHILICON POWER    157
15.3.6    AECONVERSION    159
15.3.7    ENVERTECH    160
15.3.8    SENSATA TECHNOLOGIES    162
FIGURE 55    SENSATA TECHNOLOGIES: COMPANY SNAPSHOT    162
15.3.9    NORTHERN ELECTRIC & POWER    163
15.3.10    SPARQ SYSTEMS    164
*Business overview, Products offered, Recent developments, SWOT analysis, MNM view might not be captured in case of unlisted companies.
15.4    RIGHT-TO-WIN    165
15.5    OTHER PLAYERS    167
15.5.1    SARONIC (EU) POWER TECH    167
15.5.2    ENLUXSOLAR    167
15.5.3    U R ENERGY    168
15.5.4    BRAVO SOLAR    168
15.5.5    GRACE RENEWABLE ENERGY    169
15.5.6    SOLAR PANELS PLUS    169
15.5.7    ZHEJIANG SANDI ELECTRIC    169
15.5.8    STMICROELECTRONICS    170
15.5.9    TEXAS INSTRUMENTS    170
15.5.10    JINKOSOLAR    171
16    APPENDIX    172
16.1    INSIGHTS OF INDUSTRY EXPERTS    172
16.2    DISCUSSION GUIDE    173
16.3    KNOWLEDGE STORE    176
16.4    AVAILABLE CUSTOMIZATIONS    178
16.5    RELATED REPORTS    178
16.6    AUTHOR DETAILS    179