May 04, 2020
As per the report titled ‘Power Optimizer Market Size By Connectivity, By Converter, By Application By End Use Industry Analysis Report, Regional Outlook Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, global power optimizer market is expected to witness prominent gains during 2019-2025.
Growing environmental concerns in tandem with stringent government regulations towards reducing carbon emissions are driving the growth of global power optimizer market. The device is a viable alternative for module level management and energy monitoring, owing to several MPPT benefits and superior operational efficiency of string invertors. Additional features such module mismatch resonance, module shading alleviation, and under or over performance operating modules will further strengthen the product demand.
Based on connectivity, standalone segment is presumed to gain decent traction during the forecast period. Increasing energy demand from regions with low accessibility to the grid or complete isolation is impelling product penetration. Advancement of micro-grid infrastructure for renewable energy adoption along with expansion of sustainable electric infrastructure will enhance the segment growth in the forthcoming years.
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As per the converter type, buck segment is estimated to accrue USD 900 million by 2025. This power supply technology is based on switched mode comprising one element of energy storage, a capacitor and two semiconductors, and an inductor or a combination of two. Increasing investments by major manufacturers to continuously to improve product performance is supporting the segment growth.
Speaking of the application spectrum, residential segment is estimated to exceed an annual installation of 10 million units by 2025. Net metering, FiT’s and government subsidies, along with integration of advanced optimizer solutions are encouraging the product adoption in residential spaces. In addition, government schemes and rollout plans such as energy efficiency grant will support roof-top installations of power optimizers across the residential sector.
Considering the geographical landscape, Europe power optimizer market is expected to witness strong growth during 2019-2025. The provision of incentive grants and increasing focus among regulators towards the integration of distributed energy storage technology along with favorable legislative schemes mandated by the European Commission to integrate sustainable technology will drive the power optimizer market in Europe.
Prominent players in global power optimizer market are Fronious, Ferroamp, Morsun, Texas Instruments, ABB, Xandex, Alencon, GreenBrilliance, Huawei, Maxim Integrated, Kuby, igrenEnergi, Darfon Electronics, Renewable Energy, AltEnergy, Tigo, SMA Solar, SolarEdge, and Ampt.