Asia Pacific Micro Inverter Market Size, Share & Industry Trends Analysis Report By Type (Single phase and Three phase), By Connection (Grid Connected and Stand Alone), By End User, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Asia Pacific Micro Inverter Market would witness market growth of 18.2% CAGR during the forecast period (2022-2028).
Micro inverters also allow for more design flexibility when there are shadows on the roof or when panels must be positioned at various tilts or directions due to site restrictions. Because every solar panel is operated individually, the effect of such factors on energy generation is limited to the impacted panel, as opposed to a design with string inverters, where total performance declines to the level of the weak point in the string.
With the Remote Monitoring Systems accessible with micro inverters, users can check the performance of single solar panels, making it easier to identify and troubleshoot issues. The system is modular and expandable, as the solar power system's capacity may be increased by connecting additional solar panels (of various wattage/brands) to individual micro-inverters. However, this is only beneficial when the solar energy electricity produced is utilized for captive reasons rather than exported, because when energy is exported under a gross metering/net metering agreement, it is frequently impossible to expand the solar capacity. If the user wants to gradually increase the capacity of a grid-connected solar power system, they should speak with the utility company to see if it's possible.
The Asia Pacific region is heavily dependent on micro electronic technologies because of involvement of micro inverters in security and defense domain and it is required for defense region to have a support of energy efficient technology. For instance, China has implemented a series of economic reforms aimed at enhancing its economic performance. A significant amount of essential electronic parts in Chinese defense and high-tech equipment are now created domestically, indicating the country's ability to be self-sufficient in advanced electronic components. Simultaneously, the proportion of locally produced essential electronic parts in defense and high-tech equipment increased from 30% to 85%. China is now completely capable of producing secure and dependable advanced electronic components. These sectors are important not only for large businesses like defense, the internet, and modern manufacturing, but it also have an impact on people’s daily lives through devices like computers and cellphones. Chinese computer chips and key electronic components went from being almost worthless ten years ago to being critical components of China's major defense and science endeavors, ranging from space programs to deep-sea submersibles.
The China market dominated the Asia Pacific Micro Inverter Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $829 million by 2028. The Japan market is anticipated to grow at a CAGR of 17.5% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 19% during (2022 - 2028).
Based on Type, the market is segmented into Single phase and Three phase. Based on Connection, the market is segmented into Grid Connected and Stand Alone. Based on End User, the market is segmented into Residential and Commercial. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, Delta Electronics, Inc., STMicroelectronics N.V., Texas Instruments, Inc., Sensata Technologies Holdings PLC, Darfon Electronics Corporation, Enphase Energy, Inc., Sparq Systems Inc., Fimer S.p.A., and SolarEdge Technologies, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Single phase
- Three phase
- Grid Connected
- Stand Alone
By End User
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Siemens AG
- Delta Electronics, Inc.
- STMicroelectronics N.V.
- Texas Instruments, Inc.
- Sensata Technologies Holdings PLC
- Darfon Electronics Corporation
- Enphase Energy, Inc.
- Sparq Systems Inc.
- Fimer S.p.A.
- SolarEdge Technologies, Inc.
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