Product Code: A16429
The global power optimizer market was valued at $2.6 billion in 2021, and is projected to reach $7.3 billion by 2031, growing at a CAGR of 10.81% from 2022 to 2031.
Power optimizer are essentially DC-DC converters, taking DC power from a solar panel at different voltage and current is optimal through MPPT, then converting that to a different voltage and current that best suits the central or string inverter. Power optimizer has gained popularity in a wide scale of utility applications, which is expected to propel growth of the market. Power optimizers are increasingly used in residential, commercial & industrial, and utility sectors since past few years. Power optimizers are present for each solar panel to optimize the power.
Rise in building & construction activities in developing economies across the globe increases the need for continuous power supply that can be fulfilled with the help of solar power generation, which, in turn, is expected to fuel growth of the market during the forecast period. However, high cost associated with power optimizers in the solar system is anticipated to restrain growth of the power optimizer market during the forecast period. On the contrary, rise in R&D activities toward increasing efficiency of power optimizer with its unique advantages, and government initiative toward renewable energy across the globe are expected to create opportunities for key players operating in the power optimizer market during the forecast period.
The power optimizer market is segmented on the basis of connectivity, application, end use, and region.
On the basis of connectivity, the global power optimizer market is segmented into standalone and on-grid. On the basis of application, it is segmented into residential, commercial, and utility. On the basis of end use, the global market is bifurcated into module level MPPT, advanced power line communication, monitoring components, safety shutdown components, and others.
Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by Europe and North America.
The major companies profiled in this report include SolarEdge Technologies, Inc., Enphase Energy, Tigo Energy, Sunpower Corporation, Delta Energy Systems, Solantro, Altenergy Power System, Inc., Kaco New Energy, Inc., Alencon Systems, LLC, and I-energy Co., Ltd. Additional growth strategies such as expansion of production capacities, acquisition, collaboration, joint venture, and partnership in development of innovative products from manufacturers have helped to attain key developments in the global power optimizer market trends.
COVID-19 analysis:
- COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments and infrastructure companies. The novel coronavirus has affected several economies ad caused lockdown in many countries which has limited the growth of the market. The shutdown of industrial manufacturer led to the decline in the demand for solar related equipment in most of the countries across the world led to decline in the demand of the power optimizer market. The decrease in utilization of power in the industrial facilities across the globe during the outbreak has a negative impact on the development of the market.
- After the global vaccination the government of various countries has taken initiatives to increase the investment in the renewable energy related industries especially solar and wind power systems. The increase in the investment is mostly to improve the national energy security during the pandemic and other crisis. The presence of above mentioned activities and change in policies due to outbreak of pandemic have positive impact on the development of the market in the forecast period.
- Key Benefits For Stakeholders
- This report provides a detailed quantitative analysis of the current power optimizer market trends and estimations from 2021 to 2031, which assists to identify the prevailing opportunities.
- An in-depth analysis of power optimizer market across the globe is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate specific plans.
- A comprehensive analysis of the factors that drive and restrain the growth of the global power optimizer market is provided.
- Region-wise and country-wise market conditions are comprehensively analyzed in this report.
- The projections in this report are made by analyzing the current trends and future market potential from 2021 to 2031 in terms of value.
- An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
- Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global power optimizer market.
- Key Market Segments
By Connectivity
By Application
- Residential
- Commercial
- Utility
By End Use
- Module Level MPPT
- Advanced Power Line Communication
- Monitoring Components
- Safety Shutdown Components
- Others
By Region
- North America
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Key Market Players
- SolarEdge Technologies, Inc
- Enphase Energy
- Tigo Energy
- SunPower Corporation
- Delta Energy Systems
- Solantro
- Altenergy Power System, Inc
- KACO New Energy, Inc
- Alencon Systems, LLC
- I-Energy Co., Ltd
TABLE OF CONTENTS
CHAPTER 1:INTRODUCTION
- 1.1.Report description
- 1.2.Key market segments
- 1.3.Key benefits to the stakeholders
- 1.4.Research Methodology
- 1.4.1.Secondary research
- 1.4.2.Primary research
- 1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
- 2.1.Key findings of the study
- 2.2.CXO Perspective
CHAPTER 3:MARKET OVERVIEW
- 3.1.Market definition and scope
- 3.2.Key findings
- 3.2.1.Top investment pockets
- 3.3.Porter's five forces analysis
- 3.4.Top player positioning
- 3.5.Market dynamics
- 3.5.1.Drivers
- 3.5.2.Restraints
- 3.5.3.Opportunities
- 3.6.COVID-19 Impact Analysis on the market
- 3.7.Pricing Analysis
- 3.8.Value Chain Analysis
- 3.9.Key Regulation Analysis
CHAPTER 4: POWER OPTIMIZER MARKET, BY CONNECTIVITY
- 4.1 Overview
- 4.1.1 Market size and forecast
- 4.2 Standalone
- 4.2.1 Key market trends, growth factors and opportunities
- 4.2.2 Market size and forecast, by region
- 4.2.3 Market analysis by country
- 4.3 On-Grid
- 4.3.1 Key market trends, growth factors and opportunities
- 4.3.2 Market size and forecast, by region
- 4.3.3 Market analysis by country
CHAPTER 5: POWER OPTIMIZER MARKET, BY APPLICATION
- 5.1 Overview
- 5.1.1 Market size and forecast
- 5.2 Residential
- 5.2.1 Key market trends, growth factors and opportunities
- 5.2.2 Market size and forecast, by region
- 5.2.3 Market analysis by country
- 5.3 Commercial
- 5.3.1 Key market trends, growth factors and opportunities
- 5.3.2 Market size and forecast, by region
- 5.3.3 Market analysis by country
- 5.4 Utility
- 5.4.1 Key market trends, growth factors and opportunities
- 5.4.2 Market size and forecast, by region
- 5.4.3 Market analysis by country
CHAPTER 6: POWER OPTIMIZER MARKET, BY END USE
- 6.1 Overview
- 6.1.1 Market size and forecast
- 6.2 Module Level MPPT
- 6.2.1 Key market trends, growth factors and opportunities
- 6.2.2 Market size and forecast, by region
- 6.2.3 Market analysis by country
- 6.3 Advanced Power Line Communication
- 6.3.1 Key market trends, growth factors and opportunities
- 6.3.2 Market size and forecast, by region
- 6.3.3 Market analysis by country
- 6.4 Monitoring Components
- 6.4.1 Key market trends, growth factors and opportunities
- 6.4.2 Market size and forecast, by region
- 6.4.3 Market analysis by country
- 6.5 Safety Shutdown Components
- 6.5.1 Key market trends, growth factors and opportunities
- 6.5.2 Market size and forecast, by region
- 6.5.3 Market analysis by country
- 6.6 Others
- 6.6.1 Key market trends, growth factors and opportunities
- 6.6.2 Market size and forecast, by region
- 6.6.3 Market analysis by country
CHAPTER 7: POWER OPTIMIZER MARKET, BY REGION
- 7.1 Overview
- 7.1.1 Market size and forecast
- 7.2 North America
- 7.2.1 Key trends and opportunities
- 7.2.2 North America Market size and forecast, by Connectivity
- 7.2.3 North America Market size and forecast, by Application
- 7.2.4 North America Market size and forecast, by End Use
- 7.2.5 North America Market size and forecast, by country
- 7.2.5.1 U.S.
- 7.2.5.1.1 Market size and forecast, by Connectivity
- 7.2.5.1.2 Market size and forecast, by Application
- 7.2.5.1.3 Market size and forecast, by End Use
- 7.2.5.2 Canada
- 7.2.5.2.1 Market size and forecast, by Connectivity
- 7.2.5.2.2 Market size and forecast, by Application
- 7.2.5.2.3 Market size and forecast, by End Use
- 7.2.5.3 Mexico
- 7.2.5.3.1 Market size and forecast, by Connectivity
- 7.2.5.3.2 Market size and forecast, by Application
- 7.2.5.3.3 Market size and forecast, by End Use
- 7.3 Europe
- 7.3.1 Key trends and opportunities
- 7.3.2 Europe Market size and forecast, by Connectivity
- 7.3.3 Europe Market size and forecast, by Application
- 7.3.4 Europe Market size and forecast, by End Use
- 7.3.5 Europe Market size and forecast, by country
- 7.3.5.1 Germany
- 7.3.5.1.1 Market size and forecast, by Connectivity
- 7.3.5.1.2 Market size and forecast, by Application
- 7.3.5.1.3 Market size and forecast, by End Use
- 7.3.5.2 United Kingdom
- 7.3.5.2.1 Market size and forecast, by Connectivity
- 7.3.5.2.2 Market size and forecast, by Application
- 7.3.5.2.3 Market size and forecast, by End Use
- 7.3.5.3 France
- 7.3.5.3.1 Market size and forecast, by Connectivity
- 7.3.5.3.2 Market size and forecast, by Application
- 7.3.5.3.3 Market size and forecast, by End Use
- 7.3.5.4 Italy
- 7.3.5.4.1 Market size and forecast, by Connectivity
- 7.3.5.4.2 Market size and forecast, by Application
- 7.3.5.4.3 Market size and forecast, by End Use
- 7.3.5.5 Spain
- 7.3.5.5.1 Market size and forecast, by Connectivity
- 7.3.5.5.2 Market size and forecast, by Application
- 7.3.5.5.3 Market size and forecast, by End Use
- 7.3.5.6 Rest of Europe
- 7.3.5.6.1 Market size and forecast, by Connectivity
- 7.3.5.6.2 Market size and forecast, by Application
- 7.3.5.6.3 Market size and forecast, by End Use
- 7.4 Asia-Pacific
- 7.4.1 Key trends and opportunities
- 7.4.2 Asia-Pacific Market size and forecast, by Connectivity
- 7.4.3 Asia-Pacific Market size and forecast, by Application
- 7.4.4 Asia-Pacific Market size and forecast, by End Use
- 7.4.5 Asia-Pacific Market size and forecast, by country
- 7.4.5.1 China
- 7.4.5.1.1 Market size and forecast, by Connectivity
- 7.4.5.1.2 Market size and forecast, by Application
- 7.4.5.1.3 Market size and forecast, by End Use
- 7.4.5.2 Japan
- 7.4.5.2.1 Market size and forecast, by Connectivity
- 7.4.5.2.2 Market size and forecast, by Application
- 7.4.5.2.3 Market size and forecast, by End Use
- 7.4.5.3 India
- 7.4.5.3.1 Market size and forecast, by Connectivity
- 7.4.5.3.2 Market size and forecast, by Application
- 7.4.5.3.3 Market size and forecast, by End Use
- 7.4.5.4 South Korea
- 7.4.5.4.1 Market size and forecast, by Connectivity
- 7.4.5.4.2 Market size and forecast, by Application
- 7.4.5.4.3 Market size and forecast, by End Use
- 7.4.5.5 Rest Of Asia Pacific
- 7.4.5.5.1 Market size and forecast, by Connectivity
- 7.4.5.5.2 Market size and forecast, by Application
- 7.4.5.5.3 Market size and forecast, by End Use
- 7.5 LAMEA
- 7.5.1 Key trends and opportunities
- 7.5.2 LAMEA Market size and forecast, by Connectivity
- 7.5.3 LAMEA Market size and forecast, by Application
- 7.5.4 LAMEA Market size and forecast, by End Use
- 7.5.5 LAMEA Market size and forecast, by country
- 7.5.5.1 Brazil
- 7.5.5.1.1 Market size and forecast, by Connectivity
- 7.5.5.1.2 Market size and forecast, by Application
- 7.5.5.1.3 Market size and forecast, by End Use
- 7.5.5.2 Saudi Arabia
- 7.5.5.2.1 Market size and forecast, by Connectivity
- 7.5.5.2.2 Market size and forecast, by Application
- 7.5.5.2.3 Market size and forecast, by End Use
- 7.5.5.3 South Africa
- 7.5.5.3.1 Market size and forecast, by Connectivity
- 7.5.5.3.2 Market size and forecast, by Application
- 7.5.5.3.3 Market size and forecast, by End Use
- 7.5.5.4 Rest of LAMEA
- 7.5.5.4.1 Market size and forecast, by Connectivity
- 7.5.5.4.2 Market size and forecast, by Application
- 7.5.5.4.3 Market size and forecast, by End Use
CHAPTER 8: COMPANY LANDSCAPE
- 8.1. Introduction
- 8.2. Top winning strategies
- 8.3. Product Mapping of Top 10 Player
- 8.4. Competitive Dashboard
- 8.5. Competitive Heatmap
- 8.6. Key developments
CHAPTER 9: COMPANY PROFILES
- 9.1 SolarEdge Technologies, Inc
- 9.1.1 Company overview
- 9.1.2 Company snapshot
- 9.1.3 Operating business segments
- 9.1.4 Product portfolio
- 9.1.5 Business performance
- 9.1.6 Key strategic moves and developments
- 9.2 Enphase Energy
- 9.2.1 Company overview
- 9.2.2 Company snapshot
- 9.2.3 Operating business segments
- 9.2.4 Product portfolio
- 9.2.5 Business performance
- 9.2.6 Key strategic moves and developments
- 9.3 Tigo Energy
- 9.3.1 Company overview
- 9.3.2 Company snapshot
- 9.3.3 Operating business segments
- 9.3.4 Product portfolio
- 9.3.5 Business performance
- 9.3.6 Key strategic moves and developments
- 9.4 SunPower Corporation
- 9.4.1 Company overview
- 9.4.2 Company snapshot
- 9.4.3 Operating business segments
- 9.4.4 Product portfolio
- 9.4.5 Business performance
- 9.4.6 Key strategic moves and developments
- 9.5 Delta Energy Systems
- 9.5.1 Company overview
- 9.5.2 Company snapshot
- 9.5.3 Operating business segments
- 9.5.4 Product portfolio
- 9.5.5 Business performance
- 9.5.6 Key strategic moves and developments
- 9.6 Solantro
- 9.6.1 Company overview
- 9.6.2 Company snapshot
- 9.6.3 Operating business segments
- 9.6.4 Product portfolio
- 9.6.5 Business performance
- 9.6.6 Key strategic moves and developments
- 9.7 Altenergy Power System, Inc
- 9.7.1 Company overview
- 9.7.2 Company snapshot
- 9.7.3 Operating business segments
- 9.7.4 Product portfolio
- 9.7.5 Business performance
- 9.7.6 Key strategic moves and developments
- 9.8 KACO New Energy, Inc
- 9.8.1 Company overview
- 9.8.2 Company snapshot
- 9.8.3 Operating business segments
- 9.8.4 Product portfolio
- 9.8.5 Business performance
- 9.8.6 Key strategic moves and developments
- 9.9 Alencon Systems, LLC
- 9.9.1 Company overview
- 9.9.2 Company snapshot
- 9.9.3 Operating business segments
- 9.9.4 Product portfolio
- 9.9.5 Business performance
- 9.9.6 Key strategic moves and developments
- 9.10 I-Energy Co., Ltd
- 9.10.1 Company overview
- 9.10.2 Company snapshot
- 9.10.3 Operating business segments
- 9.10.4 Product portfolio
- 9.10.5 Business performance
- 9.10.6 Key strategic moves and developments