Short Description
India Micro Inverter Market, By Connection Type (Stand-Alone, Grid-Tied), Utility (Rapid Shutdown, Panel-Level Monitoring, System Expansion Ease, Multiple Angel Installation, Higher Durability, Others), Type (Single Phase, Three Phase), Offering (Hardware, Software, Services), Communication Technology (Wired, Wireless), Power Rating (Below 250 W, Between 251 W & 500 W, Above 500 W) Sales Channel (Direct, Indirect), Industry (Residential, Commercial, PV Power Plants) Industry Trends And Forecast To 2029
Market Definition
A solar micro inverter is plug-and-play equipment that transforms direct current generated by a single module into the alternating current in photovoltaic installations. Micro inverters, unlike conventional central inverters, operate on module level power electronics (MLPE), which involves power conversion at the module level. As a result, the negative impacts of module mismatch are reduced, and the system's overall efficiency is improved. Micro inverters also provide module level monitoring, increased design flexibility, quicker installation, and improved safety over traditional inverters. Module-level power electronics, which use maximum power point tracking and micro inverters and power optimizers, give significant efficiency above conventional systems (MPPT). As a result, each module's production is maximized, making the whole system more efficient.
Market Segmentation
The India micro inverter market is segmented on the basis of connection type, utility, type, offering, communication technology, power rating, sales channel, and industry.
On the basis of connection type, the India micro inverter market is segmented into stand-alone, grid-tied.
On the basis of utility, the India micro inverter market has been segmented into rapid shutdown, panel-level monitoring, system expansion ease, multiple angel installation, higher durability, others.
On the basis of type, the India micro inverter market has been segmented into single phase, three phase.
On the basis of offering, the India micro inverter market has been segmented into hardware, software, services.
On the basis of communication technology, the India micro inverter market has been segmented into wired, wireless.
On the basis of power rating, the India micro inverter market has been segmented into below 250 W, between 251 W & 500 W, above 500 W.
On the basis of sales channel, the India micro inverter market is segmented into direct, indirect.
On the basis of industry, the India micro inverter market has been segmented into residential, commercial, PV power plants.
Market Players
Some of the major players operating in the India micro inverter market are:
Infineon Technologies AG
Fchoice Solar Tech India Pvt Ltd
Nordic (India) Solutions Pvt. Ltd
SunSights Solar
U R Energy
Enphase Energy
360 Power Products
gracerenew.com
Sun Sine Solution Private Limited
Texas Instruments Incorporated
SuratExim
Waaree Energies Ltd.
SMA Solar Technology AG
P2 Power Solutions Pvt. Ltd
TABLE OF CONTENTS
1 INTRODUCTION 13
1.1 OBJECTIVES OF THE STUDY 13
1.2 MARKET DEFINITION 13
1.3 OVERVIEW OF INDIA MICRO INVERTER MARKET 13
1.4 CURRENCY AND PRICING 15
1.5 LIMITATIONS 15
1.6 MARKETS COVERED 15
2 MARKET SEGMENTATION 21
2.1 MARKETS COVERED 21
2.2 GEOGRAPHICAL SCOPE 22
2.3 YEARS CONSIDERED FOR THE STUDY 22
2.4 DBMR TRIPOD DATA VALIDATION MODEL 23
2.5 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 26
2.6 DBMR MARKET POSITION GRID 27
2.7 MULTIVARIATE MODELING 29
2.8 CONNECTION TYPE TIMELINE CURVE 29
2.9 MARKET CHALLENGE MATRIX 30
2.10 SECONDARY SOURCES 31
2.11 ASSUMPTIONS 31
3 EXECUTIVE SUMMARY 32
4 PREMIUM INSIGHTS 35
4.1 VALUE CHAIN ANALYSIS 36
4.2 ECOSYSTEM 36
4.3 TECHNOLOGY ANALYSIS 37
4.4 PRICING ANALYSIS 37
4.5 REGULATIONS 38
4.6 CASE STUDY 40
4.6.1 ENPHASE INSTALLED 7X M250 MICRO INVERTERS AND 1X ENVOY-R FOR RESIDENTIAL END USERS AS ENVIRONMENTALLY FRIENDLY SOLAR INVESTMENT 40
4.6.2 ENPHASE INSTALLED M215 MICRO INVERTERS FOR FAT WEST MEATS (US) COMMERCIAL PROJECT, PROVING THEM BETTER THAN DC OPTIMIZERS 40
5 MARKET OVERVIEW 42
5.1 DRIVERS 44
5.1.1 RISE IN DEMAND FOR RENEWABLE ENERGY ACROSS THE SECTOR 44
5.1.2 INCREASE IN INSTALLATIONS OF SOLAR PRODUCTS SUCH AS SOLAR PANELS ACROSS THE COUNTRY 44
5.1.3 TECHNICAL ADVANTAGES OF MICRO INVERTERS OVER CONVENTIONAL SOLAR INVERTERS 45
5.2 RESTRAINTS 46
5.2.1 HIGHER INSTALLATION AND MAINTENANCE COSTS OF MICRO-INVERTERS 46
5.2.2 HIGHER DEPENDENCE ON CONVENTIONAL SOURCES OF ENERGY FOR ELECTRICITY GENERATION 46
5.3 OPPORTUNITIES 47
5.3.1 INCREASE IN ACQUISITION AND PARTNERSHIP AMONG VARIOUS ORGANIZATIONS 47
5.3.2 THE INTEGRATED STRUCTURE OF MICRO INVERTER IS PROVING OPPORTUNITIES FOR MANY MARKET PLAYERS 47
5.3.3 GROWING GOVERNMENT INITIATIVES FOR USING ALTERNATIVES SOURCE OF ENERGY 47
5.4 CHALLENGES 48
5.4.1 RISING ADOPTION OF DC OPTIMIZERS ACROSS THE MARKET 48
5.4.2 COMPLICATED DESIGN STRUCTURE OF MICRO INVERTER 48
6 ANALYSIS OF IMPACT OF COVID 19 ON THE MARKET 49
6.1 AFTERMATH OF COVID-19 AND GOVERNMENT INITIATIVE TO BOOST MARKET GROWTH 49
6.2 STRATEGIC DECISIONS FOR MANUFACTURERS AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHARE 50
6.3 IMPACT ON DEMAND, SUPPLY, AND PRICE 50
6.4 CONCLUSION 50
7 INDIA MICRO INVERTER MARKET, BY CONNECTION TYPE 51
7.1 OVERVIEW 52
7.2 GRID-TIED 54
7.2.1 SINGLE INPUT SINGLE OUTPUT (SISO)PLATFORM 54
7.2.2 MULTI INPUT SINGLE OUTPUT (MISO) PLATFORM 54
7.3 STAND-ALONE 55
7.3.1 PURE SINE WAVE 55
7.3.2 SQUARE WAVE 55
7.3.3 MODIFIED SINE WAVE 55
8 INDIA MICRO INVERTER MARKET, BY UTILITY 56
8.1 OVERVIEW 57
8.2 RAPID SHUTDOWN 58
8.3 PANEL-LEVEL MONITORING 58
8.4 SYSTEM EXPANSION EASE 58
8.5 MULTIPLE ANGEL INSTALLATION 59
8.6 HIGHER DURABILITY 59
8.7 OTHERS 59
9 INDIA MICRO INVERTER MARKET, BY TYPE 60
9.1 OVERVIEW 61
9.2 SINGLE PHASE 62
9.3 THREE PHASE 62
10 INDIA MICRO INVERTER MARKET, BY OFFERING 63
10.1 OVERVIEW 64
10.2 HARDWARE 65
10.3 SERVICES 65
10.4 SOFTWARE 65
11 INDIA MICRO INVERTER MARKET, BY COMMUNICATION TECHNOLOGY 66
11.1 OVERVIEW 67
11.2 WIRED 68
11.3 WIRELESS 68
12 INDIA MICRO INVERTER MARKET, BY POWER RATING 69
12.1 OVERVIEW 70
12.2 BETWEEN 251 & 500 W 71
12.3 BELOW 250 W 71
12.4 ABOVE 500 W 71
13 INDIA MICRO INVERTER MARKET, BY SALES CHANNEL 72
13.1 OVERVIEW 73
13.2 INDIRECT CHANNEL 74
13.3 DIRECT CHANNEL 74
14 INDIA MICRO INVERTER MARKET, BY INDUSTRY 75
14.1 OVERVIEW 76
14.2 RESIDENTIAL 77
14.2.1 INDIVIDUAL HOMES 78
14.2.1.1 RAPID SHUTDOWN 78
14.2.1.2 PANEL-LEVEL MONITORING 78
14.2.1.3 SYSTEM EXPANSION EASE 78
14.2.1.4 MULTIPLE ANGEL INSTALLATION 78
14.2.1.5 HIGHER DURABILITY 78
14.2.1.6 OTHERS 78
14.2.2 APARTMENTS 79
14.2.2.1 RAPID SHUTDOWN 79
14.2.2.2 PANEL-LEVEL MONITORING 79
14.2.2.3 SYSTEM EXPANSION EASE 79
14.2.2.4 MULTIPLE ANGEL INSTALLATION 79
14.2.2.5 HIGHER DURABILITY 79
14.2.2.6 OTHERS 79
14.2.3 SOCIETIES 80
14.2.3.1 RAPID SHUTDOWN 80
14.2.3.2 PANEL-LEVEL MONITORING 80
14.2.3.3 SYSTEM EXPANSION EASE 80
14.2.3.4 MULTIPLE ANGEL INSTALLATION 80
14.2.3.5 HIGHER DURABILITY 80
14.2.3.6 OTHERS 80
14.3 COMMERCIAL 81
14.3.1 RETAIL 82
14.3.1.1 RAPID SHUTDOWN 82
14.3.1.2 PANEL-LEVEL MONITORING 82
14.3.1.3 SYSTEM EXPANSION EASE 82
14.3.1.4 MULTIPLE ANGEL INSTALLATION 82
14.3.1.5 HIGHER DURABILITY 82
14.3.1.6 OTHERS 82
14.3.2 HOTELS & RESTAURANTS 83
14.3.2.1 RAPID SHUTDOWN 83
14.3.2.2 PANEL-LEVEL MONITORING 83
14.3.2.3 SYSTEM EXPANSION EASE 83
14.3.2.4 MULTIPLE ANGEL INSTALLATION 83
14.3.2.5 HIGHER DURABILITY 83
14.3.2.6 OTHERS 83
14.3.3 EDUCATIONAL INSTITUTIONS 84
14.3.3.1 RAPID SHUTDOWN 84
14.3.3.2 PANEL-LEVEL MONITORING 84
14.3.3.3 SYSTEM EXPANSION EASE 84
14.3.3.4 MULTIPLE ANGEL INSTALLATION 84
14.3.3.5 HIGHER DURABILITY 84
14.3.3.6 OTHERS 85
14.3.4 GOVERNMENT INSTITUTIONS 85
14.3.4.1 RAPID SHUTDOWN 85
14.3.4.2 PANEL-LEVEL MONITORING 85
14.3.4.3 SYSTEM EXPANSION EASE 85
14.3.4.4 MULTIPLE ANGEL INSTALLATION 85
14.3.4.5 HIGHER DURABILITY 85
14.3.4.6 OTHERS 86
14.3.5 HOSPITALS 86
14.3.5.1 RAPID SHUTDOWN 86
14.3.5.2 PANEL-LEVEL MONITORING 86
14.3.5.3 SYSTEM EXPANSION EASE 86
14.3.5.4 MULTIPLE ANGEL INSTALLATION 86
14.3.5.5 HIGHER DURABILITY 86
14.3.5.6 OTHERS 87
14.3.6 AGRICULTURE 87
14.3.6.1 RAPID SHUTDOWN 87
14.3.6.2 PANEL-LEVEL MONITORING 87
14.3.6.3 SYSTEM EXPANSION EASE 87
14.3.6.4 MULTIPLE ANGEL INSTALLATION 87
14.3.6.5 HIGHER DURABILITY 87
14.3.6.6 OTHERS 88
14.4 PV POWER PLANTS 88
14.4.1 ON-GRID 89
14.4.1.1 RAPID SHUTDOWN 89
14.4.1.2 PANEL-LEVEL MONITORING 89
14.4.1.3 SYSTEM EXPANSION EASE 89
14.4.1.4 MULTIPLE ANGEL INSTALLATION 89
14.4.1.5 HIGHER DURABILITY 89
14.4.1.6 OTHERS 89
14.4.2 OFF-GRID 90
14.4.2.1 RAPID SHUTDOWN 90
14.4.2.2 PANEL-LEVEL MONITORING 90
14.4.2.3 SYSTEM EXPANSION EASE 90
14.4.2.4 MULTIPLE ANGEL INSTALLATION 90
14.4.2.5 HIGHER DURABILITY 90
14.4.2.6 OTHERS 91
14.4.3 HYBRID 91
14.4.3.1 RAPID SHUTDOWN 91
14.4.3.2 PANEL-LEVEL MONITORING 91
14.4.3.3 SYSTEM EXPANSION EASE 91
14.4.3.4 MULTIPLE ANGEL INSTALLATION 91
14.4.3.5 HIGHER DURABILITY 91
14.4.3.6 OTHERS 91
15 INDIA MICRO INVERTER MARKET, COMPANY LANDSCAPE 93
15.1 COMPANY SHARE ANALYSIS: INDIA 93
16 SWOT ANALYSIS 94
17 COMPANY PROFILE 95
17.1 ENPHASE ENERGY 95
17.1.1 COMPANY SNAPSHOT 95
17.1.2 REVENUE ANALYSIS 95
17.1.3 PRODUCT PORTFOLIO 96
17.1.4 RECENT DEVELOPMENTS 96
17.2 WAAREE ENERGIES LTD. 97
17.2.1 COMPANY SNAPSHOT 97
17.2.2 PRODUCT PORTFOLIO 97
17.2.3 RECENT DEVELOPMENTS 97
17.3 FCHOICE SOLAR TECH INDIA PVT LTD 98
17.3.1 COMPANY SNAPSHOT 98
17.3.2 PRODUCT PORTFOLIO 98
17.3.3 RECENT DEVELOPMENT 98
17.4 P2 POWER SOLUTIONS PVT. LTD. 99
17.4.1 COMPANY SNAPSHOT 99
17.4.2 SERVICE PORTFOLIO 99
17.4.3 RECENT DEVELOPMENT 99
17.5 SUN SINE SOLUTION PRIVATE LIMITED 100
17.5.1 COMPANY SNAPSHOT 100
17.5.2 PRODUCT PORTFOLIO 100
17.5.3 RECENT DEVELOPMENT 100
17.6 GRACERENEW.COM 101
17.6.1 COMPANY SNAPSHOT 101
17.6.2 PRODUCT PORTFOLIO 101
17.6.3 RECENT DEVELOPMENTS 101
17.7 INFINEON TECHNOLOGIES AG 102
17.7.1 COMPANY SNAPSHOT 102
17.7.2 REVENUE ANALYSIS 102
17.7.3 SOLUTION PORTFOLIO 103
17.7.4 RECENT DEVELOPMENT 103
17.8 NORDIC (INDIA) SOLUTIONS PVT. LTD 104
17.8.1 COMPANY SNAPSHOT 104
17.8.2 PRODUCT PORTFOLIO 104
17.8.3 RECENT DEVELOPMENT 104
17.9 360 POWER PRODUCTS 105
17.9.1 COMPANY SNAPSHOT 105
17.9.2 PRODUCT PORTFOLIO 105
17.9.3 RECENT DEVELOPMENT 105
17.10 SURATEXIM 106
17.10.1 COMPANY SNAPSHOT 106
17.10.2 PRODUCT PORTFOLIO 106
17.10.3 RECENT DEVELOPMENT 106
17.11 SMA SOLAR TECHNOLOGY AG 107
17.11.1 COMPANY SNAPSHOT 107
17.11.2 REVENUE ANALYSIS 107
17.11.3 PRODUCT PORTFOLIO 108
17.11.4 RECENT DEVELOPMENT 108
17.12 SUNSIGHTS SOLAR 109
17.12.1 COMPANY SNAPSHOT 109
17.12.2 PRODUCT PORTFOLIO 109
17.12.3 RECENT DEVELOPMENT 109
17.13 TEXAS INSTRUMENTS INCORPORATED 110
17.13.1 COMPANY SNAPSHOT 110
17.13.2 REVENUE ANALYSIS 110
17.13.3 SOLUTION PORTFOLIO 111
17.13.4 RECENT DEVELOPMENT 111
17.14 U R ENERGY 112
17.14.1 COMPANY SNAPSHOT 112
17.14.2 PRODUCT PORTFOLIO 112
17.14.3 RECENT DEVELOPMENT 112
18 QUESTIONNAIRE 113
19 RELATED REPORTS 117