LAMEA 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 Latin America, Middle East and Africa Micro Inverter Market would witness market growth of 21.0% CAGR during the forecast period (2022-2028).
Micro inverters are the route to go if a solar system is directed at multiple angles, such as some panels directing south, some east, and some west. Micro inverters are also the ideal option if users have shading concerns due to a large chimney or a tree. The solar panels would produce a varying quantity of electricity at varying periods of the day in the conditions, but micro inverters would assure that the user gathers all of the energy, whereas a regular inverter would lose some of it. Micro inverters offer a 25-year warranty, whereas normal inverters have an 8- to 12-year warranty. In addition, micro inverter dependability was questioned a few years ago, but technology has now followed up with the business, and the extended warranties on micro-inverters demonstrate the makers' trust in the products.
Along with that, micro-inverters, unlike central inverters, optimize each solar panel individually rather than the entire solar system. This allows each solar panel to operate to its full capacity. In other words, unlike central inverters, which optimize for the weakest link, a single solar panel cannot degrade the performance of an entire solar array. Micro inverters, rather than standard string inverters, can provide significant benefits to households considering going solar.
Micro inverters have been in huge demand and usage in the Middle East region as users of the region have requirements that matches the built-up of micro inverter whose wattage varies between the range of 190 W and 220 W. The main objective in Middle East region is to fulfill the task with cost-effectiveness. Micro inverters are small inverters that can manage the output of one or two solar panels. Along with that, micro inverters are often rated between 190 and 220 W since grid-tie panels are usually rated around 225 and 275 W, but rarely generate this in practice.
As a consequence, it operates at a lower power level, it avoids many of the design issues that plague larger designs: a large transformer is rarely required, large electrolytic capacitors can be substituted with much more dependable thin-film capacitors, and cooling loads are lowered to the point where fans are not required. The mean time between failures (MTBF) is measured in centuries. The manufacturers are heavily investing on overall cost reduction of micro inverter. Therefore, due to increased emphasis of regional government as well as technological leaders in micro electronic industry to bring more cost effectiveness and efficiency, the micro inverter market is expected to grow in the coming years.
The Brazil market dominated the LAMEA Micro Inverter Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $134.2 million by 2028. The Argentina market is estimated to grow at a CAGR of 21.7% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 20.7% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Micro Inverter Market is Predict to reach $7.4 Billion by 2028, at a CAGR of 17.8%
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
- Saudi Arabia
- South Africa
- Rest of LAMEA
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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