Home > Energy, Mining, Oil & Gas > Power Optimizer Market

Power Optimizer Market Size By End-use (Module Level MPPT, Advanced Power Line Communication, Monitoring Components, Safety Shutdown Components), By Connectivity (Standalone, On-grid), By Application (Residential, Commercial & Industrial, Utility), COVID-19 Impact Analysis, Regional Outlook Application Potential, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI3075
  • Published Date: Apr 2022
  • Report Format: PDF

Industry Trends

Power Optimizer Market size exceeded USD 1.3 billion in 2021 and is expected to grow at over 12.9% CAGR from 2022 to 2028. Increasing environmental concerns owing to stringent government measures to mitigate GHG emissions have surged the deployment of solar across the globe. Operational and regulatory restructuring in emerging markets coupled with product enhancements are set to bolster the demand.
 

Get more details on this report - Request Free Sample PDF
 

Most industries worldwide have been negatively impacted by the COVID-19 outbreak on account of various disruptions in the supply chain, which significantly increased the component costs. There has been a substantial decline in the consumer demand for power optimizers as residential owners focused on the elimination of non-essential expenses during the period. However, increasing solar power plant projects post-lockdown combined with rising government initiatives to reduce the overall system cost will supplement the power optimizer market statistics.
 

Increased efficiency in shading conditions along with the combination of microinverters and DC optimizers

Get more details on this report - Request Free Sample PDF
 

Growing installations of renewable energy sources for power generation across the globe are bolstering the demand for MPPT systems. Manufacturers are focusing on the integration of various functions in a single product including advanced power line communication, monitoring, and safety shutdown, which will stimulate the business scenario. Increasing investments in green buildings, which require sustainable and reliable electrical infrastructure, are fueling the power optimizer market growth. Additionally, power optimizers featuring MLPE harvest power from solar panels and store it in batteries, thus supporting electricity bill reduction & dependency on the grid and further boosting product adoption.
 

Government subsidies and the introduction of reliable & affordable products

Off-grid solar systems have played a crucial role in expanding energy access in various regions including South Asia and Sub-Saharan Africa. Private investors, end-users, and policymakers have embraced standalone products as a sustainable & affordable solution for electricity access. These systems offer low management and maintenance costs for the deployment of solar panels, which are likely to encourage power optimizer market demand. Increasing awareness among consumers regarding the use of low carbon-intensive technologies to mitigate GHG emissions will drive the market revenue. Reduction in taxes and several government incentives in countries including China, India, and ASEAN to promote the use of solar will influence the industry outlook.
 

Increased consumer preference for high-efficiency products is poised to augment the product penetration. Continuous support from investors and development partners for the deployment of microgrids in large residential & commercial buildings will propel the business landscape. Furthermore, declining costs of solar coupled with favorable government policies will further surge the demand for power optimizers.
 

Government investments and subsidy programs for the deployment of solar in North America

Get more details on this report - Request Free Sample PDF
 

The North America power optimizer market size is predicted to reach around USD 1.2 billion by 2028. Increasing investments in renewable energy technologies along with the rising adoption of solar energy storage as virtual power plants are accelerating the growth of DC optimizers in the U.S. In May 2020, the nation passed China by becoming one of the most attractive countries for investment in renewables. Large-scale funding by private and public investors will positively impacting the penetration of solar systems.
 

For instance, in June 2021, Natural Resources Canada launched a USD 964 million program for grid modernization and smart renewable energy deployment projects. Moreover, strong government subsidies and declining input costs will stimulate the market growth.
 

Rising focus on the reduction of carbon footprints

The key power optimizer market players include Tigo Energy, Inc., Ampt, LLC, Huawei Technologies Co., Ltd., SolarEdge Technologies, Inc., ferroamp, Alencon Systems, LLC, Fronius International GmbH, Altenergy Power Systems, Inc., Infineon Technologies AG, Sun Sine Solution Private Limited, and Suzhou Convert Semiconductor Co., Ltd.
 

Leading manufacturers in the U.S., Europe, and Asia Pacific are inclined toward strategic collaborations, partnerships, acquisitions, and joint ventures to gain a competitive advantage in the industry. Major companies are focused on the power optimizer’s sustainability and economies of scale to increase their competitive market share. Prominent participants across the Latin America and Middle East & Africa are focusing on reducing carbon emissions through their products.
 

This power optimizer market research report includes in-depth coverage of the industry with estimates & forecast in terms of MW & ‘USD Million’ from 2018 to 2028 for the following segments:

Market, By End-use

  • Module Level MPPT
  • Advanced Power Line Communication
  • Monitoring Components
  • Safety Shutdown Components
  • Others

Market, By Connectivity

  • Standalone
  • On-grid

Market, By Application

  • Residential
  • Commercial & Industrial
  • Utility

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Netherlands
    • Italy
    • Germany
    • Sweden
    • Russia
    • Spain
    • Austria
    • Ireland
    • Finland
    • Denmark
    • Belgium
    • Norway
  • Asia Pacific
    • China
    • Australia
    • India
    • South Korea
    • Japan
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
  • Latin America
    • Brazil
    • Chile

 

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of power optimizer surpassed USD 1.3 billion in 2021 and is anticipated to witness more than 12.9% CAGR during the forecast period of 2022-2028 with increased focus on energy efficiency.
MPPT systems will capture a major share of the overall market by 2028 due to the extensive installation of renewable energy sources for power generation.
Standalone power optimizer segment is predicted to record a steady CAGR through 2028 as the system is a cost-effective and sustainable solution for energy access and higher investment in solar deployment.
North America market is set to exceed USD 1.2 billion by 2028 due to the heavy investments made by governments in renewable energy technologies.
Tigo Energy, Inc., SolarEdge Technologies, Inc., Ampt, LLC, Alencon Systems, LLC, Fronius International GmbH, Infineon Technologies AG, and Altenergy Power Systems, Inc., among many others, are the main players in this market.

Buy Now


Premium Report Details

  • Base Year: 2021
  • Companies covered: 12
  • Tables & Figures: 552
  • Countries covered: 27
  • Pages: 300
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

Get a report that explains COVID-19 impact on this market

 Request Free Sample

Budget constraints? Get in touch with us for special pricing

Request Discount